Category: Commerce

MIL-OSI: Dassault Systèmes: Third quarter results in-line – Anticipating top line acceleration in 4Q – Confirming full year EPS objective

Source: GlobeNewswire (MIL-OSI)

Press Release

VELIZY-VILLACOUBLAY, France — October 24, 2024

Dassault Systèmes: Third quarter results in-line

Anticipating top line acceleration in 4Q

Confirming full year EPS objective

Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) today reports its IFRS unaudited estimated financial results for the third quarter 2024 and nine months ended September 30, 2024. The Group’s Board of Directors approved these estimated results on October 23, 2024. This press release also includes financial information on a non-IFRS basis and reconciliations with IFRS figures in the Appendix.

Summary Highlights¹

(unaudited, non-IFRS unless otherwise noted,
all growth rates in constant currencies)

3Q24: total revenue rose 4% to €1.46 billion driven by subscription revenue up 8%;
3Q24: sequential improvement of MEDIDATA revenue;
3Q24: operating margin of 29.6% and EPS at €0.29, in line with guidance;
YTD24: IFRS cash flow from operations up 6% as reported;
FY24: confirming diluted EPS objectives of €1.27 – €1.30, while updating total revenue growth from 6 – 8% to 5 – 7% to reflect the continued scrutiny and contraction of the automotive market. Anticipating total revenue growth acceleration at 8% mid-point in 4Q24.

Dassault Systèmes’ Chief Executive Officer Commentary

Pascal Daloz, Dassault Systèmes’ Chief Executive Officer, commented:

“As we enter the second half of the year, we have seen several end-markets gaining momentum. In Life Sciences, MEDIDATA is back to sequential growth improvement. At the same time, we had excellent performance in Consumer industries driven by CENTRIC PLM. SOLIDWORKS accelerated growth in revenue and seats. Importantly, Aerospace & Defense was resilient and delivered a solid performance this quarter.

However, since late summer, automotive customers in Europe and the US have been impacted by a contraction in volumes. This accelerates the need for transformative decisions, while elongating decision-making in the short term. Momentum in Asia, and China in particular, remains strong.

We are well-positioned to continue gaining market share in the industrial sector. We are confident that our data-centric platform will serve as a catalyst for transformation. In the age of AI, virtualizing industrial processes from design to manufacturing will be a prerequisite for OEMs and suppliers to compete successfully in this next decade.”

Dassault Systèmes’ Chief Financial Officer Commentary

(revenue, operating margin and diluted EPS growth rates in constant currencies,
data on a non-IFRS basis)

Rouven Bergmann, Dassault Systèmes’ Chief Financial Officer, commented:

“In the third quarter, our total revenue grew by 4%, while the operating margin remained resilient at 29.6% and EPS stood at €0.29, highlighting the operating efficiency of the company.

For the full year, we are reconfirming our EPS target range of €1.27 – €1.30 while remaining disciplined to offset the effects of ongoing deal delays and contraction in automotive volumes. Accordingly, we are adjusting our total revenue growth expectations from 6 – 8% to 5 – 7%.

This updated guidance reflects expected growth acceleration in the fourth quarter, driven by continued improvements at MEDIDATA and a robust 3DEXPERIENCE pipeline.”

Financial Summary

In millions of Euros, except per share data and percentages	IFRS				IFRS
In millions of Euros, except per share data and percentages	Q3 2024	Q3 2023	Change	Change in constant currencies	YTD 2024	YTD 2023	Change	Change in constant currencies
Total Revenue	1,463.9	1,424.7	3%	4%	4,459.3	4,308.0	4%	4%
Software Revenue	1,312.4	1,286.7	2%	3%	4,011.8	3,883.9	3%	4%
Operating Margin	18.9%	21.2%	(2.4)pts		19.6%	20.0%	(0.3)pt
Diluted EPS	0.18	0.18	0%		0.61	0.54	12%

In millions of Euros, except per share data and percentages	Non-IFRS				Non-IFRS
In millions of Euros, except per share data and percentages	Q3 2024	Q3 2023	Change	Change in constant currencies	YTD 2024	YTD 2023	Change	Change in constant currencies
Total Revenue	1,463.9	1,424.7	3%	4%	4,459.3	4,308.0	4%	4%
Software Revenue	1,312.4	1,286.7	2%	3%	4,011.8	3,883.9	3%	4%
Operating Margin	29.6%	31.0%	(1.5)pt		30.2%	31.0%	(0.8)pt
Diluted EPS	0.29	0.28	3%	4%	0.89	0.84	6%	8%

Third Quarter 2024 Versus 2023 Financial Comparisons

(unaudited, IFRS and non-IFRS unless otherwise noted,
all revenue growth rates in constant currencies)

Total Revenue: Total revenue in the third quarter grew by 4% to €1.46 billion, and software revenue increased by 3% to €1.31 billion, both at the low end of the Company’s objectives. Subscription & support revenue rose 5%; recurring revenue represented 83% of software revenue, up 2 percentage points compared to last year. Licenses and other software revenue declined by 7% to €229 million. Services revenue increased by 10% to €151 million, during the quarter.
Software Revenue by Geography: Revenue in the Americas increased by 6% to represent 41% of software revenue, led by Home & Lifestyle from an Industry standpoint. Europe (36% of software revenue) declined by 4%, largely impacted by a strong comparison basis after a large transformation deal signed in the third quarter of 2023. In Asia, revenue increased by 9% with continued momentum across countries led by improvement in China, up double digits. Asia represented 23% of software revenue at the end of the third quarter.
Software Revenue by Product Line:
- Industrial Innovation software revenue declined by 1% to €685 million, against a high comparison basis. The strong baseline effect combined with a weaker automotive market in Europe and the US weighed on the performance. Industrial Innovation software represented 52% of software revenue, during the period.
- Life Sciences software revenue was flat, at €280 million, accounting for 21% of software revenue. Sequential growth improvement confirms MEDIDATA progressive recovery.
- Mainstream Innovation software revenue increased by 15% to €348 million and represented 26% of software revenue. SOLIDWORKS had a good start in the second half of 2024, up mid-single digits in the quarter. CENTRIC PLM delivered another excellent quarter, due to competitive displacements and strong renewals.

Software Revenue by Industry: Home & Lifestyle, High-Tech, Aerospace & Defense and Marine & Offshore were among the best performers during the quarter.
Key Strategic Drivers: 3DEXPERIENCE software revenue was impacted by a tough comparison base due to the anniversary of a mega deal. Hence, we saw a temporary decline of 10%. However, the performance on a year-to-date basis was in line with objectives and, looking at the subscription growth, the trend was very strong at 41%. 3DEXPERIENCE software revenue represented 37% of 3DEXPERIENCE eligible software revenue. Cloud software revenue grew by 7% and represented 25% of software revenue during the period. Excluding MEDIDATA, Cloud software revenue increased by a strong 38%.
Operating Income and Margin: IFRS operating income declined by 9% at €276 million, as reported. Non-IFRS operating income declined by 1% in constant currencies at €433 million (2% as reported). The IFRS operating margin stood at 18.9% compared to 21.2% in the third quarter of 2023. The non-IFRS operating margin totaled 29.6% versus 31.0% during the same period last year.
Earnings per Share: IFRS diluted EPS was €0.18, flat as reported. Non-IFRS diluted EPS grew to €0.29, up 3% as reported, or 4% in constant currencies.

Nine months ended 2024 Versus 2023 Financial Comparisons

(unaudited, IFRS and non-IFRS unless otherwise noted,
all revenue growth rates in constant currencies)

Total Revenue: Total revenue grew by 4% to €4.46 billion. Software revenue increased by 4% to €4.01 billion. Subscription and support revenue rose 5% to €3.29 billion; recurring revenue represented 82% of total software revenue. Licenses and other software revenue declined by 1% to €720 million. Services revenue rose 6% to €448 million.
Software Revenue by Geography: The Americas grew 3% and represented 40% of software revenue. Europe rose by 2% and represented 37% of software revenue. Asia increased by 9%, representing 23% of software revenue.
Software Revenue by Product Line:
- Industrial Innovation software revenue rose by 4% to €2.12 billion and represented 53% of software revenue. ENOVIA, SIMULIA and DELMIA exhibited the strongest performance.
- Life Sciences software revenue decreased by 2% to €847 million, representing 21% of software revenue.
- Mainstream Innovation software revenue increased by 11% to €1.05 billion. Mainstream Innovation represented 26% of software revenue. SOLIDWORKS delivered mid-single digit growth while CENTRIC PLM continued to perform well with strong, double-digit growth.
Software Revenue by Industry: Home & Lifestyle, Aerospace and Defense, High-Tech and Consumer Packaged Good & Retail displayed some of the strongest performance.
Key Strategic Drivers: 3DEXPERIENCE software revenue increased by 10%, representing 37% of 3DEXPERIENCE eligible software revenue. Cloud software revenue grew by 7% and represented 25% of software revenue. Excluding MEDIDATA, Cloud software revenue increased by more than 50% versus the same period last year.
Operating Income and Margin: IFRS operating income increased by 2%, to €876 million, as reported. Non-IFRS operating income increased by 1% as reported (2% in constant currencies) to €1.35 billion. IFRS operating margin totaled 19.6% compared to 20.0% for the same period in 2023. The non-IFRS operating margin was preserved, standing at 30.2% in the first nine months of 2024 compared to 31.0% in the same period last year, thanks to cost containment measures.
Earnings per Share: IFRS diluted EPS was €0.61 increasing 12% as reported. Non-IFRS diluted EPS grew by 6% to €0.89, as reported, up 8% in constant currencies.
Cash Flow from Operations (IFRS): Cash flow from operations totaled €1.35 billion, up 6% year over year, thanks to the increase in net income adjusted for non-cash items and positive cash tax effects in 2024.
Balance Sheet (IFRS): Dassault Systèmes’ net financial position totaled €1.07 billion as of September 30, 2024, an increase of €0.49 billion, compared to €0.58 billion for the year ending December 31, 2023. Cash and cash equivalents totaled €3.66 billion as of September 30, 2024. The movements of the quarter on cash and cash equivalents include the reimbursement for €700 million of the second Tranche of the Bond issued by the company in 2019.

Financial Objectives for 2024

Dassault Systèmes’ fourth quarter and 2024 financial objectives presented below are given on a non-IFRS basis and reflect the principal 2024 currency exchange rate assumptions for the US dollar and Japanese yen as well as the potential impact from additional non-Euro currencies:


		Q4 2024	FY 2024
Total Revenue (billion)		€1.696 – €1.816	€6.155 – €6.275
Growth		3 – 10%	3 – 5%
Growth ex FX		5 – 12%	5 – 7%

Software revenue growth *		5 – 13%	5 – 7%
	Of which licenses and other software revenue growth *	0 – 20%	(1) – 6%
	Of which recurring revenue growth *	7 – 11%	6 – 7%
Services revenue growth *		0 – 5%	4 – 6%

Operating Margin		35.9% – 36.9%	31.8% – 32.2%

EPS Diluted		€0.38 – €0.41	€1.27 – €1.30
Growth		4 – 12%	5 – 8%
Growth ex FX		5 – 13%	7 – 10%

US dollar		$1.10 per Euro	$1.09 per Euro
Japanese yen (before hedging)		JPY 155.0 per Euro	JPY 162.0 per Euro
* Growth in Constant Currencies

These objectives are prepared and communicated only on a non-IFRS basis and are subject to the cautionary statement set forth below.

The 2024 non-IFRS financial objectives set forth above do not take into account the following accounting elements below and are estimated based upon the 2024 principal currency exchange rates above: no significant contract liabilities write-downs; share-based compensation expenses, including related social charges, estimated at approximately €232 million (these estimates do not include any new stock option or share grants issued after September 30, 2024); amortization of acquired intangibles and of tangibles reevaluation, estimated at approximately €360 million, largely impacted by the acquisition of MEDIDATA; and lease incentives of acquired companies at approximately €2 million.

The above objectives also do not include any impact from other operating income and expenses, a net principally comprised of acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; from one-time items included in financial revenue; from one-time tax effects; and from the income tax effects of these non-IFRS adjustments. Finally, these estimates do not include any new acquisitions or restructuring completed after September 30, 2024.

Corporate Announcements

Today’s Webcast and Conference Call Information

Today, Thursday, October 24, 2024, Dassault Systèmes will host, from London, a webcasted presentation at 9:00 AM London Time / 10:00 AM Paris time, and will then host a conference call at 8:30 AM New York time / 1:30 PM London time / 2:30 PM Paris time. The webcasted presentation and conference calls will be available online by accessing investor.3ds.com.

Additional investor information is available at investor.3ds.com or by calling Dassault Systèmes’ Investor Relations at +33.1.61.62.69.24.

Investor Relations Events

Fourth Quarter 2024 Earnings Release: February 4, 2025
First Quarter 2025 Earnings Release: April 24, 2025
Second Quarter 2025 Earnings Release: July 24, 2025

Forward-looking Information

Statements herein that are not historical facts but express expectations or objectives for the future, including but not limited to statements regarding the Group’s non-IFRS financial performance objectives are forward-looking statements. Such forward-looking statements are based on Dassault Systèmes management’s current views and assumptions and involve known and unknown risks and uncertainties. Actual results or performances may differ materially from those in such statements due to a range of factors.

The Group’s actual results or performance may be materially negatively affected by numerous risks and uncertainties, as described in the “Risk Factors” section 1.9 of the 2023 Universal Registration Document (‘Document d’enregistrement universel’) filed with the AMF (French Financial Markets Authority) on March 18, 2024, available on the Group’s website www.3ds.com.

In particular, please refer to the risk factor “Uncertain Global Economic Environment” in section 1.9.1.1 of the 2023 Universal Registration Document set out below for ease of reference:

“In light of the uncertainties regarding economic, business, social, health and geopolitical conditions at the global level, Dassault Systèmes’ revenue, net earnings and cash flows may grow more slowly, whether on an annual or quarterly basis, mainly due to the following factors:

the deployment of Dassault Systèmes’ solutions may represent a large portion of a customer’s investments in software technology. Decisions to make such an investment are impacted by the economic environment in which the customers operate. Uncertain global geopolitical, economic and health conditions and the lack of visibility or the lack of financial resources may cause some customers, e.g. within the automotive, aerospace, energy or natural resources industries, to reduce, postpone or terminate their investments, or to reduce or not renew ongoing paid maintenance for their installed base, which impact larger customers’ revenue with their respective sub-contractors;
the political, economic and monetary situation in certain geographic regions where Dassault Systèmes operates could become more volatile and impact Dassault Systèmes’ business, for example, due to stricter export compliance rules or the introduction of new customs tariffs;
continued pressure or volatility on raw materials and energy prices could also slow down Dassault Systèmes’ diversification efforts in new industries;
uncertainties regarding the extent and duration of inflation could adversely affect the financial position of Dassault Systèmes; and
the sales cycle of Dassault Systèmes’ products – already relatively long due to the strategic nature of such investments for customers – could further lengthen.

The occurrence of crises – health and political in particular – could have consequences both for the health and safety of Dassault Systèmes’ employees and for the Company. It could also adversely impact the financial situation or financing and supply capabilities of Dassault Systèmes’ existing and potential customers, commercial and technology partners, some of whom may be forced to temporarily close sites or cease operations. A deteriorating economic environment could generate increased price pressure and affect the collection of receivables, which would negatively impact Dassault Systèmes’ revenue, financial performance and market position.

Dassault Systèmes makes every effort to take into consideration this uncertain macroeconomic outlook. Dassault Systèmes’ business results, however, may not develop as anticipated. Furthermore, due to factors affecting sales of Dassault Systèmes’ products and services, there may be a substantial time lag between an improvement in global economic and business conditions and an upswing in the Company’s business results.

In preparing such forward-looking statements, the Group has in particular assumed an average US dollar to euro exchange rate of US$1.10 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY155.0 to €1.00, before hedging for the fourth quarter 2024. The Group has assumed an average US dollar to euro exchange rate of US$1.09 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY162.0 to €1.00, before hedging for the full year 2024. However, currency values fluctuate, and the Group’s results may be significantly affected by changes in exchange rates.

Non-IFRS Financial Information

Readers are cautioned that the supplemental non-IFRS financial information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered in isolation from or as a substitute for IFRS measurements. The supplemental non-IFRS financial information should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with IFRS. Furthermore, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Specific limitations for individual non-IFRS measures are set forth in the Company’s 2023 Universal Registration Document filed with the AMF on March 18, 2024.

In the tables accompanying this press release the Group sets forth its supplemental non-IFRS figures for revenue, operating income, operating margin, net income and diluted earnings per share, which exclude the effect of adjusting the carrying value of acquired companies’ deferred revenue, share-based compensation expense and related social charges, the amortization of acquired intangible assets and of tangibles reevaluation, certain other operating income and expense, net, including impairment of goodwill and acquired intangibles, the effect of adjusting lease incentives of acquired companies, certain one-time items included in financial revenue and other, net, and the income tax effect of the non-IFRS adjustments and certain one-time tax effects. The tables also set forth the most comparable IFRS financial measure and reconciliations of this information with non-IFRS information.

FOR MORE INFORMATION

Dassault Systèmes’ 3DEXPERIENCE platform, 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions: http://www.3ds.com

ABOUT DASSAULT SYSTÈMES

Dassault Systèmes is a catalyst for human progress. We provide business and people with collaborative virtual environments to imagine sustainable innovations. By creating virtual twin experiences of the real world with our 3DEXPERIENCE platform and applications, our customers can redefine the creation, production and life-cycle-management processes of their offer and thus have a meaningful impact to make the world more sustainable. The beauty of the Experience Economy is that it is a human-centered economy for the benefit of all – consumers, patients and citizens. Dassault Systèmes brings value to more than 350,000 customers of all sizes, in all industries, in more than 150 countries. For more information, visit www.3ds.com

Dassault Systèmes Investor Relations Team FTI Consulting

Beatrix Martinez: +33 1 61 62 40 73 Arnaud de Cheffontaines: +33 1 47 03 69 48

Jamie Ricketts : +44 20 3727 1600

investors@3ds.com

Dassault Systèmes Press Contacts

Corporate / France Arnaud MALHERBE

arnaud.malherbe@3ds.com

+33 (0)1 61 62 87 73

© Dassault Systèmes. All rights reserved. 3DEXPERIENCE, the 3DS logo, the Compass icon, IFWE, 3DEXCITE, 3DVIA, BIOVIA, CATIA, CENTRIC PLM, DELMIA, ENOVIA, GEOVIA, MEDIDATA, NETVIBES, OUTSCALE, SIMULIA and SOLIDWORKS are commercial trademarks or registered trademarks of Dassault Systèmes, a European company (Societas Europaea) incorporated under French law, and registered with the Versailles trade and companies registry under number 322 306 440, or its subsidiaries in the United States and/or other countries. All other trademarks are owned by their respective owners. Use of any Dassault Systèmes or its subsidiaries trademarks is subject to their express written approval.

APPENDIX TABLE OF CONTENTS

Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

Glossary of Definitions

Non-IFRS Financial Information

Acquisitions and Foreign Exchange Impact

Condensed consolidated statements of income

Condensed consolidated balance sheet

Condensed consolidated cash flow statement

IFRS – non-IFRS reconciliation

DASSAULT SYSTÈMES – Glossary of Definitions

Information in Constant Currencies

Dassault Systèmes has followed a long-standing policy of measuring its revenue performance and setting its revenue objectives exclusive of currency in order to measure in a transparent manner the underlying level of improvement in its total revenue and software revenue by activity, industry, geography and product lines. The Group believes it is helpful to evaluate its growth exclusive of currency impacts, particularly to help understand revenue trends in its business. Therefore, the Group provides percentage increases or decreases in its revenue and expenses (in both IFRS as well as non-IFRS) to eliminate the effect of changes in currency values, particularly the U.S. dollar and the Japanese yen, relative to the euro. When trend information is expressed “in constant currencies”, the results of the “prior” period have first been recalculated using the average exchange rates of the comparable period in the current year, and then compared with the results of the comparable period in the current year.

While constant currency calculations are not considered to be an IFRS measure, the Group believes these measures are critical to understanding its global revenue results and to compare with many of its competitors who report their financial results in U.S. dollars. Therefore, Dassault Systèmes includes this calculation for comparing IFRS revenue figures as well non-IFRS revenue figures for comparable periods. All information at constant exchange rates is expressed as a rounded percentage and therefore may not precisely reflect the absolute figures.

Information on Growth excluding acquisitions (“organic growth”)

In addition to financial indicators on the entire Group’s scope, Dassault Systèmes provides growth excluding acquisitions effect, also named organic growth. In order to do so, the data relating to the scope is restated excluding acquisitions, from the date of the transaction, over a period of 12 months.

Information on Industrial Sectors

The Group provides broad end-to-end software solutions and services: its platform-based virtual twin experiences combine modeling, simulation, data science and collaborative innovation to support companies in the three sectors it serves, namely Manufacturing Industries, Life Sciences & Healthcare, and Infrastructure & Cities.

These three sectors comprise twelve industries:

Manufacturing Industries: Transportation & Mobility; Aerospace & Defense; Marine & Offshore; Industrial Equipment; High-Tech; Home & Lifestyle; Consumer Packaged Goods – Retail. In Manufacturing Industries, Dassault Systèmes helps customers virtualize their operations, improve data sharing and collaboration across their organization, reduce costs and time-to-market, and become more sustainable;
Life Sciences & Healthcare: Life Sciences & Healthcare. In this sector, the Group aims to address the entire cycle of the patient journey to lead the way toward precision medicine. To reach the broader healthcare ecosystem from research to commercial, the Group’s solutions connect all elements from molecule development to prevention to care, and combine new therapeutics, med practices, and Medtech;
Infrastructure & Cities: Infrastructure, Energy & Materials; Architecture, Engineering & Construction; Business Services; Cities & Public Services. In Infrastructure & Cities, the Group supports the virtualization of the sector in making its industries more efficient and sustainable, and creating desirable living environments.

Information on Product Lines

The Group’s product lines financial reporting include the following financial information:

Industrial Innovation software revenue, which includes CATIA, ENOVIA, SIMULIA, DELMIA, GEOVIA, NETVIBES, and 3DEXCITE brands;
Life Sciences software revenue, which includes MEDIDATA and BIOVIA brands;
Mainstream Innovation software revenue which includes its CENTRIC PLM and 3DVIA brands, as well as its 3DEXPERIENCE WORKS family which includes the SOLIDWORKS brand.

Starting from 2022, 3DS OUTSCALE became a brand of Dassault Systèmes. As the first sovereign and sustainable operator on the cloud, 3DS OUTSCALE enables governments and corporations from all sectors to achieve digital autonomy through a Cloud experience and with a world-class cyber governance.

GEO’s

Eleven GEOs are responsible for driving development of the Company’s business and implementing its customer‑centric engagement model. Teams leverage strong networks of local customers, users, partners, and influencers.

These GEOs are structured into three groups:

the “Americas” group, made of two GEO’s;
the “Europe” group, comprising Europe, Middle East and Africa (EMEA) and made of four GEO’s;
the “Asia” group, comprising Asia and Oceania and made of five GEO’s.

3DEXPERIENCE Software Contribution

To measure the relative share of 3DEXPERIENCE software in its revenues, Dassault Systèmes uses the following ratio: for software revenue, the Group calculates the percentage contribution by comparing total 3DEXPERIENCE software revenue to software revenue for all product lines except SOLIDWORKS, MEDIDATA, CENTRIC PLM and other acquisitions (defined as “3DEXPERIENCE Eligible software revenue”).

Cloud revenue

Cloud revenues correspond to revenue generated through a catalog of cloud-based solutions, infrastructure as a service, cloud solution development and cloud managed services. They are delivered by Dassault Systèmes via a cloud infrastructure hosted by Dassault Systèmes, or by third party providers of cloud computing infrastructure services. These offerings are available through different deployment methods: Dedicated cloud, Sovereign cloud and International cloud. Cloud solutions are generally offered through subscriptions models or perpetual licenses with support and hosting services.

DASSAULT SYSTÈMES

NON-IFRS FINANCIAL INFORMATION

(unaudited; in millions of Euros, except per share data, percentages, headcount and exchange rates)

Non-IFRS key figures exclude the effects of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue), share-based compensation expense, including related social charges, amortization of acquired intangible assets and of tangible assets revaluation, lease incentives of acquired companies, other operating income and expense, net, including the acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets, certain one-time items included in financial loss, net, certain one-time tax effects and the income tax effects of these non-IFRS adjustments.

Comparable IFRS financial information and a reconciliation of the IFRS and non-IFRS measures are set forth in the separate tables within this Attachment.

In millions of Euros, except per share data, percentages, headcount and exchange rates	Non-IFRS reported
	Three months ended				Nine months ended
	September 30, 2024	September 30, 2023	Change	Change in constant currencies	September 30, 2024	September 30, 2023	Change	Change in constant currencies
Total Revenue	€ 1,463.9	€ 1,424.7	3%	4%	€ 4,459.3	€ 4,308.0	4%	4%

Revenue breakdown by activity
Software revenue	1,312.4	1,286.7	2%	3%	4,011.8	3,883.9	3%	4%
Of which licenses and other software revenue	229.5	246.0	(7)%	(7)%	719.8	735.8	(2)%	(1)%
Of which subscription and support revenue	1,082.9	1,040.8	4%	5%	3,292.0	3,148.1	5%	5%
Services revenue	151.5	138.0	10%	10%	447.6	424.1	6%	6%

Software revenue breakdown by product line
Industrial Innovation	684.6	698.8	(2)%	(1)%	2,117.9	2,070.7	2%	4%
Life Sciences	280.1	283.6	(1)%	(0)%	846.6	863.8	(2)%	(2)%
Mainstream Innovation	347.7	304.2	14%	15%	1,047.4	949.5	10%	11%

Software Revenue breakdown by geography
Americas	540.6	513.6	5%	6%	1,619.7	1,575.2	3%	3%
Europe	470.3	490.5	(4)%	(4)%	1,465.4	1,426.3	3%	2%
Asia	301.5	282.7	7%	9%	926.6	882.4	5%	9%

Operating income	€ 432.6	€ 442.0	(2)%		€ 1,347.0	€ 1,335.7	1%
Operating margin	29.6%	31.0%			30.2%	31.0%

Net income attributable to shareholders	€ 380.1	€ 371.3	2%		€ 1,174.4	€ 1,110.7	6%
Diluted earnings per share	€ 0.29	€ 0.28	3%	4%	€ 0.89	€ 0.84	6%	8%

Closing headcount	25,996	25,377	2%		25,996	25,377	2%

Average Rate USD per Euro	1.10	1.09	1%		1.09	1.08	0%
Average Rate JPY per Euro	163.95	157.25	4%		164.29	149.65	10%

DASSAULT SYSTÈMES

ACQUISITIONS AND FOREIGN EXCHANGE IMPACT

(unaudited; in millions of Euros)

In millions of Euros	Non-IFRS reported			o/w growth at constant rate and scope	o/w change of scope impact at current year rate	o/w FX impact on previous year figures
In millions of Euros	September 30, 2024	September 30, 2023	Change	o/w growth at constant rate and scope	o/w change of scope impact at current year rate	o/w FX impact on previous year figures
Revenue QTD	1,463.9	1,424.7	39.2	49.8	1.3	(11.8)
Revenue YTD	4,459.3	4,308.0	151.3	190.2	1.6	(40.4)

DASSAULT SYSTÈMES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(unaudited; in millions of Euros, except per share data and percentages)

In millions of Euros, except per share data and percentages	IFRS reported
	Three months ended		Nine months ended
	September 30,	September 30,	September 30,	September 30,
	2024	2023	2024	2023
Licenses and other software revenue	229.5	246.0	719.8	735.8
Subscription and Support revenue	1,082.9	1,040.8	3,292.0	3,148.1
Software revenue	1,312.4	1,286.7	4,011.8	3,883.9
Services revenue	151.5	138.0	447.6	424.1
Total Revenue	€ 1,463.9	€ 1,424.7	€ 4,459.3	€ 4,308.0
Cost of software revenue ⁽¹⁾	(127.6)	(105.2)	(364.4)	(329.0)
Cost of services revenue	(125.3)	(133.1)	(385.0)	(386.1)
Research and development expenses	(321.0)	(299.2)	(958.5)	(910.8)
Marketing and sales expenses	(403.7)	(381.0)	(1,247.7)	(1,195.2)
General and administrative expenses	(117.5)	(103.2)	(334.1)	(325.9)
Amortization of acquired intangible assets and of tangible assets revaluation	(88.5)	(93.4)	(274.1)	(284.0)
Other operating income and expense, net	(4.2)	(7.1)	(19.2)	(16.7)
Total Operating Expenses	(1,187.7)	(1,122.2)	(3,583.1)	(3,447.7)
Operating Income	€ 276.2	€ 302.5	€ 876.2	€ 860.3
Financial income (loss), net	32.1	(4.3)	95.5	31.1
Income before income taxes	€ 308.2	€ 298.2	€ 971.7	€ 891.5
Income tax expense	(68.5)	(54.9)	(184.4)	(171.5)
Net Income	€ 239.8	€ 243.3	€ 787.2	€ 719.9
Non-controlling interest	(0.0)	0.1	0.9	1.0
Net Income attributable to equity holders of the parent	€ 239.7	€ 243.5	€ 788.2	€ 720.9
Basic earnings per share	0.18	0.18	0.60	0.55
Diluted earnings per share	€ 0.18	€ 0.18	€ 0.61	€ 0.54
Basic weighted average shares outstanding (in millions)	1,313.3	1,316.1	1,313.4	1,315.2
Diluted weighted average shares outstanding (in millions)	1,323.1	1,326.1	1,327.0	1,326.8

⁽¹⁾ Excluding amortization of acquired intangible assets and of tangible assets revaluation.

IFRS reported	Three months ended September 30, 2024		Nine months ended September 30, 2024
IFRS reported	Change ⁽²⁾	Change in constant currencies	Change ⁽²⁾	Change in constant currencies
Total Revenue	3%	4%	4%	4%
Revenue by activity
Software revenue	2%	3%	3%	4%
Services revenue	10%	10%	6%	6%
Software Revenue by product line
Industrial Innovation	(2)%	(1)%	2%	4%
Life Sciences	(1)%	(0)%	(2)%	(2)%
Mainstream Innovation	14%	15%	10%	11%
Software Revenue by geography
Americas	5%	6%	3%	3%
Europe	(4)%	(4)%	3%	2%
Asia	7%	9%	5%	9%

⁽²⁾ Variation compared to the same period in the prior year.

DASSAULT SYSTÈMES

CONDENSED CONSOLIDATED BALANCE SHEET

(unaudited; in millions of Euros)

In millions of Euros	IFRS reported
	September 30,	December 31,
	2024	2023
ASSETS
Cash and cash equivalents	3,657.7	3,568.3
Trade accounts receivable, net	1,359.8	1,707.9
Contract assets	45.1	26.8
Other current assets	495.1	477.1
Total current assets	5,557.7	5,780.1
Property and equipment, net	946.2	882.8
Goodwill and Intangible assets, net	7,301.4	7,647.0
Other non-current assets	253.2	312.5
Total non-current assets	8,500.7	8,842.3
Total Assets	€ 14,058.4	€ 14,622.5
LIABILITIES
Trade accounts payable	181.2	230.5
Contract liabilities	1,376.7	1,479.3
Borrowings, current	548.8	950.1
Other current liabilities	768.6	901.0
Total current liabilities	2,875.4	3,561.0
Borrowings, non-current	2,042.8	2,040.6
Other non-current liabilities	1,137.7	1,174.8
Total non-current liabilities	3,180.5	3,215.4
Non-controlling interests	13.8	11.9
Parent shareholders’ equity	7,988.7	7,834.1
Total Liabilities	€ 14,058.4	€ 14,622.5

DASSAULT SYSTÈMES

CONDENSED CONSOLIDATED CASH FLOW STATEMENT

(unaudited; in millions of Euros)

In millions of Euros	IFRS reported
	Three months ended			Nine months ended
	September 30,	September 30,	Change	September 30,	September 30,	Change
	2024	2023	Change	2024	2023	Change
Net income attributable to equity holders of the parent	239.7	243.5	(3.7)	788.2	720.9	67.3
Non-controlling interest	0.0	(0.1)	0.1	(0.9)	(1.0)	0.0
Net income	239.8	243.3	(3.6)	787.2	719.9	67.3
Depreciation of property and equipment	49.4	47.3	2.1	142.1	138.4	3.7
Amortization of intangible assets	90.3	95.2	(5.0)	279.7	290.3	(10.6)
Adjustments for other non-cash items	39.3	65.4	(26.1)	113.6	123.5	(10.0)
Changes in working capital	(201.1)	(205.3)	4.2	25.2	(0.4)	25.6
Net Cash From Operating Activities	€ 217.6	€ 246.0	€ (28.4)	€ 1,347.8	€ 1,271.7	€ 76.0

Additions to property, equipment and intangibles assets	(36.5)	(35.1)	(1.4)	(144.3)	(102.8)	(41.5)
Payment for acquisition of businesses, net of cash acquired	(2.6)	(14.8)	12.2	(18.3)	(15.6)	(2.6)
Other	0.7	4.5	(3.8)	23.9	(0.4)	24.2
Net Cash Provided by (Used in) Investing Activities	€ (38.3)	€ (45.3)	€7.0	€ (138.7)	€ (118.8)	€ (19.9)

Proceeds from exercise of stock options	8.8	11.6	(2.7)	44.0	38.5	5.5
Cash dividends paid	–	(0.0)	0.0	(302.7)	(276.3)	(26.4)
Repurchase and sale of treasury stock	(65.8)	(218.6)	152.8	(373.5)	(386.0)	12.5
Capital increase	(0.0)	0.0	(0.0)	–	146.1	(146.1)
Acquisition of non-controlling interests	(0.7)	0.0	(0.7)	(3.3)	(0.8)	(2.5)
Proceeds from borrowings	300.0	(0.3)	300.3	300.0	20.3	279.7
Repayment of borrowings	(700.5)	(0.9)	(699.6)	(700.7)	(28.2)	(672.5)
Repayment of lease liabilities	(18.7)	(21.1)	2.4	(61.0)	(63.0)	2.1
Net Cash Provided by (Used in) Financing Activities	€ (476.9)	€ (229.4)	€ (247.5)	€ (1,097.1)	€ (549.4)	€( 547.7)

Effect of exchange rate changes on cash and cash equivalents	(76.2)	51.7	(127.9)	(22.6)	(4.4)	(18.2)

Increase (decrease) in cash and cash equivalents	€ (373.8)	€22.7	€ (396.5)	€ 89.4	€ 599.2	€ (509.8)

Cash and cash equivalents at beginning of period	€ 4,031.5	€ 3,345.4		€ 3,568.3	€ 2,769.0
Cash and cash equivalents at end of period	€ 3,657.7	€ 3,368.1		€ 3,657.7	€ 3,368.1

DASSAULT SYSTÈMES
SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
IFRS – NON-IFRS RECONCILIATION
(unaudited; in millions of Euros, except per share data and percentages)

Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group’s Document d’Enregistrement Universel for the year ended December 31, 2023 filed with the AMF on March 18, 2024. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group’s consolidated financial statements prepared in accordance with IFRS.

In millions of Euros, except per share data and percentages	Three months ended September 30,						Change
	2024	Adjustment⁽¹⁾	2024	2023	Adjustment⁽¹⁾	2023	IFRS	Non-IFRS⁽²⁾
	IFRS	Adjustment⁽¹⁾	Non-IFRS	IFRS	Adjustment⁽¹⁾	Non-IFRS	IFRS	Non-IFRS⁽²⁾
Total Revenue	€ 1,463.9	–	€ 1,463.9	€ 1,424.7	–	€ 1,424.7	3%	3%
Revenue breakdown by activity
Software revenue	1,312.4	–	1,312.4	1,286.7	–	1,286.7	2%	2%
Licenses and other software revenue	229.5	–	229.5	246.0	–	246.0	(7)%	(7)%
Subscription and Support revenue	1,082.9	–	1,082.9	1,040.8	–	1,040.8	4%	4%
Recurring portion of Software revenue	83%		83%	81%		81%
Services revenue	151.5	–	151.5	138.0	–	138.0	10%	10%
Software Revenue breakdown by product line
Industrial Innovation	684.6	–	684.6	698.8	–	698.8	(2)%	(2)%
Life Sciences	280.1	–	280.1	283.6	–	283.6	(1)%	(1)%
Mainstream Innovation	347.7	–	347.7	304.2	–	304.2	14%	14%
Software Revenue breakdown by geography
Americas	540.6	–	540.6	513.6	–	513.6	5%	5%
Europe	470.3	–	470.3	490.5	–	490.5	(4)%	(4)%
Asia	301.5	–	301.5	282.7	–	282.7	7%	7%
Total Operating Expenses	€ (1,187.7)	€ 156.5	€ (1,031.2)	€ (1,122.2)	€ 139.5	€ (982.7)	6%	5%
Share-based compensation expense and related social charges	(63.4)	63.4	–	(38.4)	38.4	–
Amortization of acquired intangible assets and of tangible assets revaluation	(88.5)	88.5	–	(93.4)	93.4	–
Lease incentives of acquired companies	(0.4)	0.4	–	(0.7)	0.7	–
Other operating income and expense, net	(4.2)	4.2	–	(7.1)	7.1	–
Operating Income	€ 276.2	€ 156.5	€ 432.6	€ 302.5	€ 139.5	€ 442.0	(9)%	(2)%
Operating Margin	18.9%		29.6%	21.2%		31.0%
Financial income (loss), net	32.1	0.6	32.6	(4.3)	26.8	22.5	N/A	45%
Income tax expense	(68.5)	(15.8)	(84.3)	(54.9)	(38.1)	(93.0)	25%	(9)%
Non-controlling interest	(0.0)	(0.9)	(0.9)	0.1	(0.4)	(0.3)	(117)%	229%
Net Income attributable to shareholders	€ 239.7	€ 140.3	€ 380.1	€ 243.5	€ 127.8	€ 371.3	(2)%	2%
Diluted Earnings Per Share ⁽³⁾	€ 0.18	€ 0.10	€ 0.29	€ 0.18	€ 0.10	€ 0.28	0%	3%

⁽¹⁾ In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.

In millions of Euros, except percentages	Three months ended September 30,								Change
In millions of Euros, except percentages	2024 IFRS	Share-based compensation expense and related social charges	Lease incentives of acquired companies	2024 Non-IFRS	2023 IFRS	Share-based compensation expense and related social charges	Lease incentives of acquired companies	2023 Non-IFRS	IFRS	Non- IFRS
Cost of revenue	(252.9)	3.3	0.1	(249.5)	(238.2)	2.1	0.2	(236.0)	6%	6%
Research and development expenses	(321.0)	20.4	0.2	(300.4)	(299.2)	14.9	0.3	(284.1)	7%	6%
Marketing and sales expenses	(403.7)	18.9	0.0	(384.8)	(381.0)	11.1	0.1	(369.8)	6%	4%
General and administrative expenses	(117.5)	20.8	0.0	(96.6)	(103.2)	10.3	0.0	(92.9)	14%	4%
Total		€ 63.4	€ 0.4			€ 38.4	€ 0.7

⁽²⁾ The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
⁽³⁾ Based on a weighted average 1,323.1 million diluted shares for Q3 2024 and 1,326.1 million diluted shares for Q3 2023, and, for IFRS only, a diluted net income attributable to the sharehorlders of € 243.2 million for Q3 2024 (€ 243.5 million for Q3 2023). The Diluted net income attributable to equity holders of the Group corresponds to the Net Income attributable to equity holders of the Group adjusted by the impact of the share-based compensation plans to be settled either in cash or in shares at the option of the Group.

DASSAULT SYSTÈMES
SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
IFRS – NON-IFRS RECONCILIATION
(unaudited; in millions of Euros, except per share data and percentages)

In millions of Euros, except per share data and percentages	Nine months ended September 30,						Change
	2024	Adjustment⁽¹⁾	2024	2023	Adjustment⁽¹⁾	2023	IFRS	Non-IFRS⁽²⁾
	IFRS	Adjustment⁽¹⁾	Non-IFRS	IFRS	Adjustment⁽¹⁾	Non-IFRS	IFRS	Non-IFRS⁽²⁾
Total Revenue	€ 4,459.3		€ 4,459.3	€ 4,308.0	–	€ 4,308.0	4%	4%
Revenue breakdown by activity
Software revenue	4,011.8		4,011.8	3,883.9	–	3,883.9	3%	3%
Licenses and other software revenue	719.8	–	719.8	735.8	–	735.8	(2)%	(2)%
Subscription and Support revenue	3,292.0		3,292.0	3,148.1	–	3,148.1	5%	5%
Recurring portion of Software revenue	82%		82%	81%		81%
Services revenue	447.6	–	447.6	424.1	–	424.1	6%	6%
Software Revenue breakdown by product line
Industrial Innovation	2,117.9	–	2,117.9	2,070.7	–	2,070.7	2%	2%
Life Sciences	846.6	–	846.6	863.8	–	863.8	(2)%	(2)%
Mainstream Innovation	1,047.4	–	1,047.4	949.5	–	949.5	10%	10%
Software Revenue breakdown by geography
Americas	1,619.7		1,619.7	1,575.2	–	1,575.2	3%	3%
Europe	1,465.4	–	1,465.4	1,426.3	–	1,426.3	3%	3%
Asia	926.6	–	926.6	882.4	–	882.4	5%	5%
Total Operating Expenses	€ (3,583.1)	€ 470.8	€ (3,112.4)	€ (3,447.7)	€ 475.4	€ (2,972.3)	4%	5%
Share-based compensation expense and related social charges	(175.9)	175.9	–	(172.6)	172.6	–
Amortization of acquired intangible assets and of tangible assets revaluation	(274.1)	274.1	–	(284.0)	284.0	–
Lease incentives of acquired companies	(1.5)	1.5	–	(2.1)	2.1	–
Other operating income and expense, net	(19.2)	19.2	–	(16.7)	16.7	–
Operating Income	€ 876.2	€ 470.8	€ 1,347.0	€ 860.3	€ 475.4	€ 1,335.7	2%	1%
Operating Margin	19.6%		30.2%	20.0%		31.0%
Financial income (loss), net	95.5	2.1	97.6	31.1	28.3	59.4	207%	64%
Income tax expense	(184.4)	(83.8)	(268.2)	(171.5)	(112.8)	(284.3)	8%	(6)%
Non-controlling interest	0.9	(2.8)	(1.9)	1.0	(1.2)	(0.2)	(3)%	N/A
Net Income attributable to shareholders	€ 788.2	€ 386.2	€ 1,174.4	€ 720.9	€ 389.7	€ 1,110.7	9%	6%
Diluted Earnings Per Share ⁽³⁾	€ 0.61	€ 0.28	€ 0.89	€ 0.54	€ 0.29	€ 0.84	12%	6%

In millions of Euros, except percentages	Nine months ended September 30,								Change
In millions of Euros, except percentages	2024 IFRS	Share-based compensation expense and related social charges	Lease incentives of acquired companies	2024 Non-IFRS	2023 IFRS	Share-based compensation expense and related social charges	Lease incentives of acquired companies	2023 Non-IFRS	IFRS	Non- IFRS
Cost of revenue	(749.4)	11.2	0.4	(737.8)	(715.1)	12.1	0.6	(702.3)	5%	5%
Research and development expenses	(958.5)	58.7	0.7	(899.1)	(910.8)	65.9	0.9	(844.0)	5%	7%
Marketing and sales expenses	(1,247.7)	55.7	0.2	(1,191.8)	(1,195.2)	52.7	0.4	(1,142.2)	4%	4%
General and administrative expenses	(334.1)	50.3	0.1	(283.7)	(325.9)	42.0	0.1	(283.8)	3%	(0)%
Total		€ 175.9	€ 1.5			€ 172.6	€ 2.1

⁽²⁾ The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
⁽³⁾ Based on a weighted average 1,327.0 million diluted shares for YTD 2024 and 1,326.8 million diluted shares for YTD 2023, and, for IFRS only, a diluted net income attributable to the shareholders of € 805.5 million for YTD 2024 (€ 720.9 million for YTD 2023). The Diluted net income attributable to equity holders of the Group corresponds to the Net Income attributable to equity holders of the Group adjusted by the impact of the share-based compensation plans to be settled either in cash or in shares at the option of the Group.

1 IFRS figures for 3Q24: total revenue at €1.46 billion, operating margin of 18.9% and diluted EPS at €0.18; IFRS figures for YTD24: total revenue at €4.46 billion, operating margin of 19.6% and diluted EPS at €0.61.

Attachment

Dassault Systemes Third quarter results in-line Anticipating top line acceleration in 4Q Confirming full year EPS objective

The MIL Network –

January 25, 2025

MIL-OSI Economics: Public Policies in Focus as APEC Pushes for Sustainable Finance Solutions Lima, Peru | 23 October 2024 APEC Finance Ministers’ Process

Source: APEC – Asia Pacific Economic Cooperation

The growing urgency to address climate change and environmental challenges has propelled sustainable finance into the spotlight as governments, businesses and investors increasingly prioritize sustainability considerations. This shift is transforming the financial landscape and driving capital toward projects that promote sustainability from renewable energy infrastructure to social impact initiatives.

Against this backdrop, APEC Finance Ministers from across the APEC region convened in Lima on Sunday to discuss strategies for promoting low-carbon, climate-resilient economies. Representatives from international organizations, business leaders, and experts also offered their views on transition to a sustainable economy and the potential for investment it may bring.

Opening the High-Level Event on Sustainable Finance: Public Policies in Action for Sustainable Development, José Arista Arbildo, Peru’s Minister of Economy and Finance, emphasized the importance of recognizing the interconnection between economic growth, environmental sustainability and social well-being.

“We are facing unprecedented global environmental challenges such as climate change, biodiversity loss and natural resource scarcity,” Minister Arista said. “These challenges not only pose a threat to the environment, but also have significant implications for economic stability and the well-being of the populations of our economies.”

Sustainable finance, a broad term that refers to investments aimed at generating both financial returns and positive environmental or social outcomes, has seen unprecedented growth. With the global economy increasingly focused on mitigating climate risks and achieving long-term sustainable development, financial institutions are responding by integrating sustainability criteria into their portfolios.

“The strengthening of economic and financial systems is necessary to ensure their efficient adaptation to new paradigms that will make it possible to promote environmental, social and economic sustainability,” he added. “In this context, public policies are a transformative tool for integrating sustainability into the financial framework of our economies.”

To successfully embed sustainability into the financial system, economies must embrace a strategic vision that shapes public policies promoting environmentally responsible practices.

“Strategic planning for this integration is not only an ethical imperative, but also an economic necessity,” Minister Arista explained. “Providing a predictable framework for sustainable finance is one such policy.”

During the panel discussion, experts called for holistic strategies that harmonize economic and financial activities to foster competitiveness and productivity. They stressed the importance of setting clear, long-term sustainability goals including the importance of governance frameworks and spaces for coordination; and fostering collaboration among stakeholders.

The conversation also tackled the practical challenges member economies face in implementing sustainable financial practices. It further underscored the critical role of public-private partnerships in overcoming obstacles such as limited funding and regulatory barriers.

APEC Business Advisory Council Chair, Julia Torreblanca, echoed the sentiment, highlighting the importance of business and public sector collaboration in driving sustainable development.

“Sustainable finance is a joint endeavor where the private sector plays a critical role,” Torreblanca said. “However, it needs a policy environment that fosters innovation, facilitates sustainable investments and nurtures public-private collaboration.”

According to experts, the transition to a sustainable economy presents significant investment opportunities despite the challenges. From renewable energy projects to sustainable agriculture, sectors aimed at reducing carbon emissions and promoting social equity are poised for growth. Experts also explored the potential for innovative economic instruments to support sustainability initiatives.

One key takeaway from the event was the importance of fostering partnerships between governments, businesses and financial institutions. Such collaborations are seen as essential for creating innovative financial instruments and policies that will enhance the implementation of sustainable finance initiatives across the APEC region.

“Being appropriately prepared to address emerging challenges and seize opportunities along the path to sustainable finance is essential,” Minister Arista concluded. “Public policies are thus a powerful tool that can guide us. If designed and implemented correctly, they can transform our economies and societies.”

For further details, please contact:

APEC Media at [email protected]

MIL OSI Economics –

January 25, 2025
MIL-OSI United Kingdom: CMA launches programme of work to support growth mission
Source: United Kingdom – Executive Government & Departments

The CMA announces a new growth-focused work programme from its Microeconomics Unit alongside publication of its third State of Competition report.
To support the UK government’s growth mission and Industrial Strategy, the Competition and Markets Authority (CMA) has today announced the next programme of work to be conducted by economists in the CMA’s specialist Microeconomics Unit (MU).

In its recently published Industrial Strategy Green Paper, the UK government noted the importance of “competitive and innovative business ecosystems, particularly in industries with low market dynamism and high barriers to entry” and the need for “competitive markets to improve efficiency and improve the performance of interconnected value chains, ultimately benefiting consumers through better prices, quality, and choice”.

The CMA’s new MU Growth Programme will focus on critical drivers and blockers of growth including: how easily or not new technology spreads across the economy; the impact of upstream market power on economic performance and supply chain resilience; and how competition impacts investment.

This new work programme follows the CMA’s third State of Competition report, also published today.

Sarah Cardell, Chief Executive of the CMA, said:

At a time of tremendous opportunity for the UK, effective competition has a key role to play in driving economic growth, investment, and innovation. That’s why the CMA is launching the new MU Growth Programme to help inform the government’s growth mission and Industrial Strategy.

This follows our latest State of Competition Report, which indicates that levels of effective competition in the UK have weakened slightly over time, although by less than in other economies, and that levels of business dynamism have fallen. The report reinforces the important role of effective competition enforcement to drive greater business dynamism and sustained innovation, productivity, and growth across the economy.

The CMA’s third State of Competition report is the most comprehensive assessment to date of how competition is working in the UK. Today’s report reinforces the importance of continued action by the CMA and wider UK government to keep markets open, competitive, and dynamic.

Key findings of the CMA’s third State of Competition report include:

Indicators suggesting levels of competition across the economy have weakened slightly over time, but at a slower rate than some other advanced economies. Markups – the difference between the selling price of a good or service and the amount it costs to make have risen by around 10% in Great Britain over the past 25 years. And the increase in markups is greater among firms that already have higher markups.

Business dynamism has fallen across all measures, cementing concerns identified in the 2022 State of Competition report – as referenced in the UK government’s Industrial Strategy Green Paper. Competition between firms jostling for market share spurs growth, but firm entry and exit rates have declined across most sectors. At the top of most industries, the largest firms are more likely to keep their position over multiple years , while new entrants are less successful than they used to be in displacing them.

Technology plays an important role in markups. Investment in upfront fixed costs (like research and development, software, and branding) have become increasingly important for firms to compete effectively. As a result, markups in firms making these investments are higher, to cover upfront costs. But where investments in technology create barriers to entry, this can also lead to lower levels of effective competition.

In an environment where dynamism is falling, and technological change may be benefitting larger firms, effective competition policy – merger control and the enforcement of competition law – is critical to keep market power in check. Competition may be weaker in some ‘upstream’ sectors, where markups tend to be higher and trade contributes positively to competition – markups are lower in sectors exposed to international trade.

The CMA’s MU Growth Programme will focus analysis across a range of issues including:

barriers to the spread of new technology and knowledge across the economy, recognised in the report as a potential barrier to dynamism and growth

the role of competition in driving and directing productive investment

the strength of competition along supply chains, and the impact of ‘upstream’ market power on downstream sectors – reflecting the importance of competitive markets for key inputs to UK economic performance and resilience

pro-growth industrial policy interventions, and lessons from past experience and other countries, to help inform the UK government’s Invest 2035

Notes to editors

The previous State of Competition Report was published in 2022.

Recognising the importance of competition, in 2020 the then Chancellor and the Business Secretary asked the CMA to regularly publish a report assessing the state of competition in the UK economy over the last 25 years, which will continue under the new government.

For media enquiries, contact the CMA press office on 020 3738 6460 or press@cma.gov.uk.

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Published 24 October 2024
MIL OSI United Kingdom –
January 25, 2025
MIL-OSI Economics: Global Principles for Effective Border Adjustments

Source: International Chamber of Commerce

Headline: Global Principles for Effective Border Adjustments

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MIL OSI Economics –

January 25, 2025
MIL-OSI United Kingdom: The Maldives WTO Trade Policy Review: UK Statement, October 2024
Source: United Kingdom – Executive Government & Departments

The UK’s Permanent Representative to the World Trade Organization (WTO) and UN in Geneva, Simon Manley, gave a statement during The Maldives Trade Policy Review.
Location:

Geneva

Delivered on:

23 October 2024 (Transcript of the speech, exactly as it was delivered)

Chair, let me offer a warm welcome to the delegation from the Maldives led by the Minister of State. Let me also express my gratitude, both to him and his team for their report and to the WTO Secretariat, for their report. I also thank you Chair, for your very good introduction and let me also pay tribute to our Discussant, my very good friend, Ambassador Murdoch, for an intervention. If I may say, for those of us that are of a cricketing bent, Ambassador, combined the elegance and power of your good friend Sir Viv Richards with the intellectual rigour of my own hero Mike Brearley.

Reports analysis

Chair, the Maldives experience exemplifies the benefits of open trade to sustainable development. You spoke of it as a shining example, I would agree with that. That openness has clearly been a factor in enabling significant infrastructure development, an increasingly diverse tourism sector (in which so many of us aspire to be customers) and a highly sustainable fishing industry – to which both the Minister and Ambassador Murdoch paid tribute.

While the COVID-19 pandemic had a severe impact on the Maldives’ economy, as it did on ours and so many around this organisation, the tourism industry clearly drove forward a strong recovery. A tourism industry which is deeply appreciated by Brits, who come in such droves that the UK consistently features in the top four nationalities visiting your country. You may detect a theme here, Minister.

The reports also demonstrate the continued strength in the Maldives’ trade in services sector, which increased by 47% from 2017 to 2022, driven by a 64% increase in travel service exports. If I may say, yet another example of how trade in services can drive sustainable development in developing countries, which I think is a wider point for this organisation.

Redistribution of that revenue from trade has allowed Maldives, as others have said, to transform from an LDC to an upper middle-income country, classed as a high human development country according to the Human Development Index. So congratulations Minister, congratulations to you, your government and your team here.

Bilateral trade

Chair, as a fellow Commonwealth member, indeed you, the Maldives, and Ambassador Murdoch, we are coming together in Samoa for the Commonwealth Heads of Government meeting (CHOGM), the UK – Maldives relationship is marked by rich, historical and contemporary ties that are woven into every facet of the enduring friendship between our Governments, our businesses and our people.

We collaborate closely on governance, security, counter terrorism, climate change, environmental protection. And if I may venture out of this building for a second, also on Human Rights, where if I may say, Maldives has played such an important role here in Geneva, punching well above its weight, particularly in its support to fellow SIDS and LDCs, through its role as the co-chair of the Contact Group on HRC membership. And, of course, trade are key areas of collaboration between our two nations. And they are areas of partnership which we will both be seeking to strengthen in Samoa this week.

Protecting the Maldives’ thriving marine biodiversity, is a key objective in our relationship – not just for the enjoyment of the British tourists but also for the future and preservation of our planet. We have a shared interest in the entry to force of Fish I and the early conclusion of Fish II.

Our ties extend to our businesses as well. Total trade in goods and services between the UK and Maldives was worth over half a billion pounds in the four quarters to the end of Q1 2024, and we are proud to be the third largest market for the Maldives’ merchandise exports, those fisheries that Ambassador Murdoch referred to.

A British Business Group was launched in May 2024, as an opportunity to promote trade, and foster business and commercial partnerships and other links between our two nations.

Business environment and women in trade

Chair, let me encourage Maldives to continue its work to promote a business-friendly environment that supports economic diversification. And if I may add, with two hats, both as UK PR and co-chair on the working group on trade and gender we value its efforts in advancing women’s economic empowerment and its engagement on trade and gender equality at the WTO.

Equally, let me highlight the SME Development Financing Corporation, established by the Maldives in 2019 to support financial inclusion for MSMEs, women and youth, again very admirable initiatives.

UK support programmes [the Maldives Development Partnership]

As I previously alluded to, a key area of partnership between our two nations is through our mutual environmental objectives. Under the Blue Planet Fund, the Ocean Country Partnership Programme focuses extensive work on Marine Pollution and Biodiversity. Meanwhile the Climate Action for a Resilient Asia programme is funding a Climate Finance Network programme on transforming the Blue Economy with Maldives MSME Empowerment and Blended Finance.

This year, in these few weeks ahead of us, when we have the three Rio Convention COPs meeting in quick succession, it is essential that we work together to deliver on our commitments across all issues of environmental sustainability, an issue of such critical importance to the Maldives, as the Minister reminded us at the start.

WTO and multilateral institutions

The continued commitment Maldives has shown to the Multilateral Trading System, as a founding member of the WTO, and, more recently, Maldives’ engagement with discussions on environmentally sustainable trade practices is welcome. Others have suggested other areas where we could increase that participation here.

We have also been pleased to see the progress that Maldives have made on the ratification of the Trade Facilitation Agreement, supported, I might add by the UK’s Accelerate Trade Facilitation programme. Just this month British colleagues were in Maldives for the validation of their National Trade Facilitation roadmap. We look forward to working with the Maldives to implement further measures.

Fisheries, as we’ve reflected, is a huge pillar of the Maldivian economy, and the practice of pole and line fishing is one of the most sustainable methods for fishing. We urge Maldives to ratify Fish I, which will help us to deliver on SDG mandate 14.6. The UK is fully behind Maldives, and others, not least our distinguished permanent representative from Iceland, in securing agreement on the second phase of negotiations on Fisheries Subsidies at the very earliest possible opportunity.

Conclusion

In conclusion, Chair, let me thank you, the Discussant, and the whole delegation from the Maldives for your work on this Review and the accompanying Reports.

Chair, Maldives is known as a beautiful holiday destination – many newlyweds travel from far and wide to see the rare white sands beaches and diverse sea life. The story these reports tell of the Maldives’ trade and its coupling with the WTO, show a match made in heaven – a true case study for the story of free, fair and open trade that the multilateral system allows us to see.

Thank you very much indeed.

Updates to this page

Published 24 October 2024
MIL OSI United Kingdom –
January 25, 2025
MIL-OSI United Kingdom: Call for Data: Safety of Cosmetic Ingredients
Source: United Kingdom – Executive Government & Departments

OPSS would like to invite any interested parties to submit any scientific information relevant to the safety assessment of cosmetic ingredients.
The Office for Product Safety and Standards (OPSS) would like to invite any interested parties, including academia, manufacturers of cosmetic products, producers of the substances concerned and consumer associations to submit any scientific information relevant to the safety assessment of the following cosmetic ingredients.

Any scientific data submitted for the safety assessment must include all relevant elements as prescribed in the Scientific Committee on Consumer Safety Notes of Guidance for the Testing of Cosmetic Ingredients and Their Safety Evaluation.

Note: The Scientific Advisory Group on Chemical Safety (SAG-CS) will use 70 kg as their default bodyweight assumption for adults in new safety assessments. This aligns with other UK groups, such as the UK Committee on Toxicity of Chemicals in Food, Consumer Products and the Environment, who carry out chemical risk assessments across a range of sectors and have agreed that a default adult bodyweight of 70 kg is representative for the UK adult population. For more information, see SAG-CS.

Please submit original study reports and literature in full for all data relied upon in the safety assessment. This is particularly important for the pivotal studies, those which support the critical No Observed Adverse Effect Level (NOAEL) and point of departure and the dermal absorption value.

How to submit data

Please submit relevant data by email to: opss.safetyassessment@businessandtrade.gov.uk.

Deadline for Submission: 30 April 2025

Note:  The data submitted may be subject to the Freedom of Information Act 2000.  Any confidential and commercially sensitive data should ONLY be submitted if it is relevant to the safety assessment. Any confidential and commercially sensitive data must be very clearly marked in a submission. Any data that is not marked as confidential and /or commercially sensitive may be liable for release under an appropriate request.  

Prostaglandins and prostaglandin analogues

Prostaglandins and prostaglandin analogues are used in cosmetic products with the function of promoting eyelash growth. These types of eyelash growth products are increasingly available on the UK market and contain prostaglandin analogues such as:

Isopropyl closprostenate (CAS 157283-66-4)

Bimatoprost (CAS 155206-00-1)

Ethyl tafluprostamide (CAS 209860-87-7)

Norbimatoprost

Methylamido dihydro noralfaprostal

Due to their potency, intended use in the proximity of the eye and concerns raised by other scientific bodies / regulators over their safety, OPSS would like to evaluate the safety of these ingredients in cosmetic products.

Note: This call for data is not limited to prostaglandin analogues mentioned in the list above. OPSS is seeking data on all relevant prostaglandin analogues used in cosmetic products.

Alpha and beta-arbutin

Alpha-arbutin (CAS 84380-01-8) and beta-arbutin (CAS 497-76-7) are used as antioxidants, skin bleaching and skin conditioning agents in cosmetic products. OPSS has concerns regarding the risks associated with the use of these ingredients in cosmetic products due to their degradation to hydroquinone under common storage conditions. Hydroquinone is a known carcinogen, mutagen and a strong skin sensitiser which is prohibited from use in cosmetic products (except for entry 14 in Annex III of the UK cosmetics Regulation). As a result OPSS would like to evaluate the safety of these ingredients in cosmetic products.

Vitamin A

Vitamin A derivatives such as retinol (CAS 68-26-8), retinyl acetate (CAS 127-47-9) and retinyl palmitate (CAS 79-81-2) are used in cosmetic products for their anti-aging and antioxidant properties. The major source of vitamin A exposure in the population is food and food supplements. As a result, any additional source of exposure, including cosmetic products, may exceed tolerable upper intake levels. Therefore, there is a potential risk to human health arising from the use of vitamin A in cosmetic products when its concentration exceeds certain levels. As a result OPSS would like to evaluate the safety of these ingredients in cosmetic products.

Data protection  

OPSS is committed to processing information in accordance with the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018 (DPA 2018).  The personal data collected on this form will be held securely and will only be used for administrative purposes. If you would like to understand what personal information OPSS collects about you, how OPSS uses this personal information, and what rights you have regarding your personal information, then please refer to our Privacy Notice.

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MIL OSI United Kingdom –
January 25, 2025

MIL-OSI: Atos reports third quarter 2024 revenue

Source: GlobeNewswire (MIL-OSI)

Press Release

Third quarter 2024 revenue in line with September 2^ndBusiness Plan

Cash position in line with September 2^ndbusiness plan & FY2024 outlook

Q3 2024 revenue of €2,305m, down -4.4% organically, consistent with September 2^ndbusiness plan communicated on September 2^nd, 2024

Eviden down -6.4% organically due to continued market softness in the Americas and Central Europe and previously-established contract scope reductions
Tech Foundations down -2.6% organically, reflecting lower scope of work and previously-established contract completions and terminations
Q4 and FY2024 outlook in line with September 2^nd business plan¹

Q3 order entry of €1.5bn, with stronger commercial activity and improved order entry expected in Q4

Eviden book-to-bill at 73%, compared with 80% in prior year. Solid commercial activity in BDS with several High-Performance Computing contracts signed. Eviden Q4 book-to-bill expected to be close to Q4 2023²
Tech Foundations book-to-bill at 60%, consistent with previous years³. Q4 book-to-bill expected to be close to historical average⁴ thanks to anticipated return of multi-year contracts with existing customers
Group Q3 book-to-bill at 66% (84% in prior year), in line with Q3 2023 book-to-bill excluding large exceptional deals⁵. Group Q4 2024 book-to-bill expected in line with prior year⁶

Cash position of €1.1bn as at September 30, 2024

Net debt position of €4.6bn, including a €1.6bn reduction of working capital optimization compared with December 2023
Q3 cash consumption of €-3m excluding change in working capital optimization for €232m
Full year free cash flow before normalization of working capital optimization expected in line with September 2nd business plan

Atos focused on its industrial turnaround and growth:

Decision from the Court on pre-arranged financial restructuring plan expected today
Financial restructuring plan expected to close in December 2024 or early January 2025
New governance in place with Philippe Salle named chairman and becoming CEO on February 1st.

Paris, France – October 24, 2024 – Atos, a global leader in digital transformation, high-performance computing and information technology infrastructure, today announces its revenue for the third quarter of 2024.

Jean Pierre Mustier, Atos Chief Executive Officer, declared:

“With our financial restructuring plan and our new governance in place, Atos can confidently focus on its industrial turnaround and growth under the leadership of Philippe Salle. He is the best person to lead our transformation journey and restore confidence in Atos.

I have seen a positive change of perception with our clients, who have taken note of our restructuring, and are looking to resume a normalized interaction with us. I expect stronger commercial activity in the coming months, with the anticipated return of multi-year strategic contracts with existing customers.

I would like to take this opportunity to sincerely thank our employees for their ongoing commitment, and our customers and partners for their continued support.”

Revenue by Businesses

In € million	Q3 2024 Revenue	Q3 2023 revenue	Q3 2023 revenue*	Organic variation*
Eviden	1,093	1,202	1,167	-6.4%
Tech Foundations	1,212	1,373	1,244	-2.6%
Total	2,305	2,575	2,412	-4.4%
*at constant scope and average exchange rates

Group revenue was €2,305 million in Q3 2024, down -4.4% organically compared with Q3 2023 as expected. Overall, Group revenue in the third quarter reflects softer market conditions and is consistent with the business plan communicated on Sept 2^nd.

Eviden revenue was €1,093 million, down -6.4% organically.

Digital activities decreased high single-digit. The business was impacted by the general market slowdown in Americas and Central Europe and previously-established contract scope reductions.
Big Data & Security (BDS) revenue was roughly stable organically. In Advanced Computing, stronger activity in Denmark and France was offset by a high comparison basis in the prior year. Revenue in Digital Security slightly decreased, despite the growth of Mission Critical Systems, notably in Central Europe.

Tech Foundations revenue was €1,212 million, down -2.6% organically.

Core revenue (excluding BPO and value-added resale (“VAR”)) decreased low single-digit. Stronger contributions related to the Paris Olympic & Paralympic games were offset by contract terminations in Americas and previously-established contract scope and volume reduction in Northern Europe & APAC.
Non-core revenue declined high single-digit during the quarter as expected, reflecting contract completion in BPO activities in the UK.

Revenue by Regional Business Unit

In € million	Q3 2024 Revenue	Q3 2023 revenue	Q3 2023 revenue*	Organic variation*
Americas	500	606	558	-10.5%
Northern Europe & APAC	707	769	757	-6.6%
Central Europe	544	627	546	-0.4%
Southern Europe	477	501	480	-0.7%
Others & Global Structures	76	73	69	+10.1%
Total	2,305	2,575	2,412	-4.4%
*at constant scope and average exchange rates

Americas revenue decreased by -10.5% on an organic basis, reflecting the current general slowdown in market conditions and previously-established contract terminations and completions.

Eviden was down double-digit, impacted by contract terminations and volume decline in Healthcare, Finance, and Transport & Logistics. BDS declined high single-digit due to volume reductions.
Tech Foundations revenue declined mid single-digit due to contract completions and terminations as well as scope reductions with select customers.

Northern Europe & Asia-Pacific revenue decreased by -6.6% on an organic basis.

Eviden revenue declined mid-single-digit. A revenue increase at BDS due to new business in Advanced Computing with an innovation center in Denmark was offset by the decline of Digital revenue, reflecting a lower demand from Public Sector customers in the UK.
Revenue in Tech Foundations was down high single-digit, with contract completions and volume decline in Public Sector BPO.

Central Europe revenue was nearly stable at -0.4% on an organic basis.

Eviden revenue declined low single-digit, impacted by volume reductions in Digital from Manufacturing and Public Sector customers.
Tech Foundations revenue grew mid-single-digit, with strong demand for hardware products.

Southern Europe revenue was down -0.7% organically.

Eviden revenue was roughly flat. Growth in Digital, which benefitting from a contract win with a major European utility company, was offset by lower revenue in BDS compared to Q3 2023, when a supercomputer project was delivered in Spain.
Tech Foundations revenue declined low single-digit due to volume reductions with select customers.

Revenue in Others and Global Structures, which encompass Middle East, Africa, Major Events as well as the Group’s global delivery centers and global structures, grew double-digit reflecting stronger contributions from the Paris Olympic & Paralympic Games and the positive performance of Africa.

Commercial activity

Order entry for the Group was €1,526 million. Eviden order entry was €794 million and Tech Foundations order entry was €733 million.

Book-to-bill ratio for the Group was 66% in Q3 2024, down from 84% in Q3 2023, reflecting softer market conditions and delays in contract awards as clients await the final resolution of the Group’s refinancing plan. This ratio is in line with the book-to-bill ratio for Q3 2023, excluding exceptionally large contract⁷.

Book-to-bill ratio at Eviden was 73%. Main contracts signatures during the third quarter included the supply of an HPC to a leading player in the Aerospace sector, another HPC contract signed with a major French utility provider, together with control room utility solutions.

Book-to-bill ratio at Tech Foundations was 60%, consistent with the seasonality observed in previous years, in particular in Q3 2021 (54%) and in Q3 2022 (58%). Main contracts signatures in the third quarter included several renewals to provide Hybrid Cloud & Infrastructure services in Financial Services, Public Sector, and Manufacturing industries.

Stronger commercial activity is expected in the coming months in both Eviden and Tech Foundation, which would lead to a significant improvement of the Group book-to-bill ratio in the fourth quarter, as confidence in the Group’s financial sustainability has been restored.

At the end of September 2024, the full backlog was €14.7 billion representing 1.4 years of revenue. The full qualified pipeline amounted to €5.7 billion at the end of September 2024.

Human resources

The total headcount was 82,211 at the end of September 2024, decreasing by -10.3% since the end of June 2024. Following contract completions in Americas and the UK, the Group transferred circa 4,900 employees to the new providers. Excluding these transfers, headcount has decreased by circa -5%.

During the third quarter, the Group hired 1,839 staff (of which 91% were Direct employees), while attrition rate increased compared with Q2. The attrition rate over the past 9 months is in line with normal historical levels.

Q3 cash position

As of September 30, 2024, cash & cash equivalents was €1.1 billion, down €1.2 billion compared with December 31, 2023 primarily reflecting €1.6 billion lower working capital actions compared with the end of fiscal 2023 and €1.1 billion of new borrowings.

As of September 30, 2024, net debt was €4.6 billion compared with €2.2 billion at the end of last year, reflecting primarily the reduction of working capital optimization down to €265 million.

Cash consumption was €-3 million in the third quarter, excluding change in working capital optimization of €232 million.

Full year 2024 outlook

The Group expects for the full year 2024:

Mid-single-digit organic revenue decrease, corresponding to revenue of circa €9.7 billion
Operating margin of circa €238 million excluding additional provisions to be booked for some underperforming contracts⁸
Change in cash before debt repayment of circa €-783 million excluding the full unwind of the working capital optimization of circa €1.8 billion as of December 31, 2023.

Financial restructuring process

Atos expected to receive today the decision from the Court on its pre-arranged financial restructuring plan.

Assuming the plan is accepted by the court, the next steps of the financial restructuring process would be as follows:

November 12 – 22:	€233 million rights issue with preferred subscription rights
Mid to end December:	Execution of concomitant reserved capital increases
End of December 2024 or early 2025	Receipt of €1.5bn to €1.7bn of new money debt Closing of the restructuring process

Asset disposal processes

The discussions with Alten regarding the sale of the Worldgrid business are progressing well and are on track.

Following the communication issued on October 7, discussions related to the potential acquisition by the French state of the Advanced Computing, Mission-Critical Systems and Cybersecurity Products businesses of BDS are continuing based on a new proposal compatible with the financial restructuring plan of the Company.

Governance

As communicated on October 15, 2024, Philippe Salle has been appointed as Chairman of the Board of Directors of the Company with immediate effect and as Chairman and Chief Executive Officer with effect from February 1, 2025.

Conference call

Atos’ Management invites you to a conference call on the Group revenue for the third quarter of 2024, on Thursday, October 24, 2024 at 08:00 am (CET – Paris).

You can join the webcast of the conference:

via the following link: https://edge.media-server.com/mmc/p/bkriazto
by telephone by dial-in, 10 minutes prior the starting time. Please note that if you want to join the webcast by telephone, you must register in advance of the conference using the following link:

https://register.vevent.com/register/BI8dc47a058ab84cb88b1ba638c295b440

Upon registration, you will be provided with Participant Dial In Numbers, a Direct Event Passcode and a unique Registrant ID. Call reminders will also be sent via email the day prior to the event.
During the 10 minutes prior to the beginning of the call, you will need to use the conference access information provided in the email received upon registration.

After the conference, a replay of the webcast will be available on atos.net, in the Investors section.

APPENDIX

9-month organic revenue evolution by RBUs and business lines

In € million	9-month 2024 Revenue	9 month 2023 revenue*	Organic variation*
Americas	1,608	1,748	-8.0%
Northern Europe & APAC	2,249	2,320	-3.0%
Central Europe	1,621	1,673	-3.1%
Southern Europe	1,561	1,564	-0.2%
Others & Global Structures	230	211	+9.1%
Total	7,268	7,516	-3.3%
*at constant scope and average exchange rates




In € million	9-month 2024 Revenue	9-month2023 revenue*	Organic variation*
Eviden	3,478	3,658	-4.9%
Tech Foundations	3,790	3,858	-1.8%
Total	7,268	7,516	-3.3%
*at constant scope and average exchange rates

Q3 2023 Revenue at constant scope and exchange rates reconciliation

For the analysis of the Group’s performance, revenue is compared with Q3 2023 revenue at constant scope and foreign exchange rates. Reconciliation between the Q3 2023 reported revenue and the Q3 2023 revenue at constant scope and foreign exchange rates is presented below.

In 2023, the Group reviewed the accounting treatment of certain third-party standard software resale transactions following the decision published by ESMA in October 2023 that illustrated the IFRS IC decision and enacted a restrictive position on the assessment of Principal vs. Agent under IFRS 15 for such transactions. The Q3 2023 revenue is therefore restated by €-15 million. The restatement impacted Eviden in the Americas RBU without impacting the operating margin.

Q3 2023 revenue In € million	Q3 2023 published	Restatement	Q3 2023 restated	Internal transfers	Scope effects	Exchange rates effects	Q3 2023*
Eviden	1,217	-15	1,202	-3	-31	-1	1,167
Tech Foundations	1,373	0	1,373	3	-122	-9	1,244
Total	2,590	-15	2,575	0	-154	-10	2,412


Q3 2023 revenue In € million	Q3 2023 published	Restatement	Q3 2023 restated	Internal transfers	Scope effects	Exchange rates effects	Q3 2023*
Americas	621	-15	606	0	-34	-13	558
Norther Europe & APAC	769	0	769	0	-18	7	757
Central Europe	627	0	627	0	-81	0	546
Southern Europe	501	0	501	0	-21	0	480
Others & Global structures	73	0	73	0	0	-3	69
Total	2,590	-15	2,575	0	-154	-10	2,412

*: At constant scope and foreign exchange rates

Scope effects on revenue amounted to €-154 million. They mainly related to the divesture of UCC across all regions, EcoAct in Americas, Southern Europe and Northern Europe & Asia-Pacific, State Street JV in Americas and Elexo in Southern Europe.

Currency effects negatively contributed to revenue for €-10 million. They mostly came from the depreciation of the American dollar, Argentinian peso, Brazilian real, and Turkish lira, not offset by the appreciation of the British pound.

***

Disclaimer

This document contains forward-looking statements that involve risks and uncertainties, including references, concerning the Group’s expected growth and profitability in the future which may significantly impact the expected performance indicated in the forward-looking statements. These risks and uncertainties are linked to factors out of the control of the Company and not precisely estimated, such as market conditions or competitors’ behaviors. Any forward-looking statements made in this document are statements about Atos’s beliefs and expectations and should be evaluated as such. Forward-looking statements include statements that may relate to Atos’s plans, objectives, strategies, goals, future events, future revenues or synergies, or performance, and other information that is not historical information. Actual events or results may differ from those described in this document due to a number of risks and uncertainties that are described within the 2023 Universal Registration Document filed with the Autorité des Marchés Financiers (AMF) on May 24, 2024 under the registration number D.24-0429 and the half-year report filed with the Autorité des Marchés Financiers (AMF) on August 6, 2024. Atos does not undertake, and specifically disclaims, any obligation or responsibility to update or amend any of the information above except as otherwise required by law.
This document does not contain or constitute an offer of Atos’s shares for sale or an invitation or inducement to invest in Atos’s shares in France, the United States of America or any other jurisdiction. This document includes information on specific transactions that shall be considered as projects only. In particular, any decision relating to the information or projects mentioned in this document and their terms and conditions will only be made after the ongoing in-depth analysis considering tax, legal, operational, finance, HR and all other relevant aspects have been completed and will be subject to general market conditions and other customary conditions, including governance bodies and shareholders’ approval as well as appropriate processes with the relevant employee representative bodies in accordance with applicable laws .

About Atos

Atos is a global leader in digital transformation with circa 82,000 employees and annual revenue of circa €10 billion. European number one in cybersecurity, cloud and high-performance computing, the Group provides tailored end-to-end solutions for all industries in 69 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos is a SE (Societas Europaea) and listed on Euronext Paris.

The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

Contacts

Investor relations:
David Pierre-Kahn | investors@atos.net | +33 6 28 51 45 96
Sofiane El Amri | investors@atos.net | +33 6 29 34 85 67

Individual shareholders: 0805 65 00 75

Press contact: globalprteam@atos.net

1 Eviden Q4 organic revenue evolution expected slightly negative and Tech Foundations Q4 revenue expected to decrease double digit on previously established contract completions and terminations
2 Q4 2023 Eviden book-to-bill of 100%
3 2021 (54%), 2022 (58%) and 2023 (84% including one large exceptional deal)
4 Q4 2021-2023 book-to-bill average of 98%
5 Q3 2023 book-to-bill of 65% excluding one large exceptional deal in Eviden and another one in Tech Foundations
6 108%
7 Book-to-bill ratio of 65% in Q3 2023, excluding an exceptionally large contract at Eviden and another at Tech Foundations.
8 Negotiations are in progress with customers, which could lead to a low double digit % reduction of the operating margin

Attachment

PR-Atos reports third quarter 2024 revenue

The MIL Network –

January 25, 2025

MIL-OSI: MKS Instruments Breaks Ground on Super Center Factory in Malaysia

Source: GlobeNewswire (MIL-OSI)

ANDOVER, Mass., United States and KUALA LUMPUR, Malaysia, Oct. 24, 2024 (GLOBE NEWSWIRE) — MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of technologies that transform the world, the Malaysian Investment Development Authority (MIDA) and InvestPenang today announced that MKS celebrated the groundbreaking ceremony of its super center factory in Penang, Malaysia to support the growing needs of semiconductor equipment for wafer fabrication in the region and globally. The state-of-the-art facility will be located on a 17-acre plot, spanning approximately 500,000 square feet. and will employ approximately 1,000 people. The new factory will be built in multiple phases, with the first phase scheduled for completion in the first half of 2026.

ADUN Bukit Tambun and Director of InvestPenang, YB Goh Choon Aik stated, “Penang, renowned as the Silicon Valley of the East, has cemented its position as a preferred global destination for electronics and electrical investments in Southeast Asia. With a legacy of five decades of industrialisation and a reputation for innovation and technological excellence, the state offers a thriving industrial ecosystem that naturally attracts investors. MKS Instruments’ expansion into Penang is a testament to the state’s appeal as a preferred investment destination, supported by its robust ecosystem.”

YB Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry (MITI), welcomed MKS Instruments to Malaysia, stating, “This groundbreaking super center factory is a resounding affirmation of our government’s commitment to expediting investors’ projects with the able assistance of agencies like MIDA. More importantly, this aligns with our New Industrial Master Plan 2030, which aims to enhance our economic complexity, fostering symbiotic relationships between global companies and local SMEs, and creating high-skilled, high-paying jobs in cutting-edge sectors like engineering and technical fields, for the benefit of Malaysians. I’m confident that these initiatives will catapult our semiconductor sector to the pinnacle of the global value chain, a true ‘tour de force’ in the world of industry.”

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid stated “This momentous occasion presents a golden opportunity for our machinery and equipment (M&E) companies to showcase their prowess in producing high-value products and integrated services that meet the exacting standards of multinational corporations (MNCs). MIDA remains steadfast in its commitment to supporting and facilitating investments that enhance operational capabilities, ultimately catalysing the meteoric rise of Malaysia’s manufacturing sector, a true ‘industrial powerhouse’ in the making.”

“Penang offers an attractive and rapidly growing semiconductor ecosystem, and building a significant presence here is part of our strategic and long-term capital planning,” said Dr. John T.C. Lee, President and Chief Executive Officer of MKS. “Adding Penang to our global footprint puts us closer to our customers, suppliers and a robust technology infrastructure, including a deep and talented labor pool, as we continue to spur innovation and enhance our capabilities as a leader across a broad array of semiconductor manufacturing applications.”

MIDA reports that for the first half of 2024 (1H2024), the Machinery and Equipment (M&E) sector saw promising growth, with a total of 64 projects approved, amounting to investments valued at RM2.8 billion. These projects are anticipated to create significant opportunities, generating over 3,500 new jobs and contributing to the sector’s continued development and expansion in Malaysia.

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

About InvestPenang

InvestPenang is the Penang State Government’s principal agency for the promotion of investments. Its objectives are to develop and sustain Penang’s economy by enhancing and continuously supporting business activities in the State through foreign and local investments, including spawning viable new growth centers. To realize its objectives, InvestPenang also runs initiatives like the SMART Penang Center (providing assistance to SMEs), Penang CAT Center (for talent attraction and retention), and Global Business Services (GBS) Focus Group (promoting and developing digital economy). For more information, please visit https://investpenang.gov.my.

About MKS Instruments

MKS Instruments enables technologies that transform our world. We deliver foundational technology solutions to leading edge semiconductor manufacturing, electronics and packaging, and specialty industrial applications. We apply our broad science and engineering capabilities to create instruments, subsystems, systems, process control solutions and specialty chemicals technology that improve process performance, optimize productivity and enable unique innovations for many of the world’s leading technology and industrial companies. Our solutions are critical to addressing the challenges of miniaturization and complexity in advanced device manufacturing by enabling increased power, speed, feature enhancement, and optimized connectivity. Our solutions are also critical to addressing ever-increasing performance requirements across a wide array of specialty industrial applications. Additional information can be found at www.mks.com.

For more information, please contact:

MIDA

InvestPenang

MKS Instruments

Ms. Zakiah Sajidan
Director, Machinery and Metal
Technology Division
Email: zakiah@mida.gov.my
Tel.: +603 22676769

Ms. Elaine Cheah
Communications & Business
Intelligence
Email: elaine@investpenang.gov.my
Tel.: +604 6468833

Mr. Bill Casey
Senior Director, Marketing
Communications 
Email: press@mksinst.com
Tel.: +1 630 995 6384 

Ms. Kerry Kelly
Partner, Kekst CNC
Email: kerry.kelly@kekstcnc.com

Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, regarding MKS’ construction of a factory in Malaysia and the projected timeline. Any statements that are not statements of historical fact should be considered to be forward-looking statements. Actual events or results may differ materially from those in the forward-looking statements set forth herein, including as a result of the factors described in MKS’ Annual Report on Form 10-K for the year ended December 31, 2023 and any subsequent Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission. MKS is under no obligation to, and expressly disclaims any obligation to, update or alter these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.

The MIL Network –

January 25, 2025

MIL-OSI Economics: Samsung Announces New Medications Tracking Feature for Samsung Health in India

Source: Samsung

India’s largest consumer electronics brand, Samsung announced that it has added the Medications tracking feature1 to the Samsung Health app2 to help users manage their health more comprehensively.

The feature will not only allow users to keep track of their prescribed or over-the-counter medication regime but will also offer important medical information and tips. The feature can help in tracking medication adherence consistency for those, who are on a medication journey for hypertension, diabetes, PCOS, PCOD and other chronic diseases that require timely doses.

“Samsung is a brand that puts its customers first and continuously works on products and services to improve their daily lives. We aim to build a holistic health platform for people to understand and manage their health better by connecting devices and services. With the addition of Medications feature for India in the Samsung Health app, we believe users will be able to manage their medications more conveniently, improve adherence, and ultimately maintain better health,” said Kyungyun Roo, Managing Director, Samsung Research Institute, Noida.

The Medications feature, the result of a collaborative effort between R&D, Design and Consumer Experience teams at Samsung, has been designed keeping in mind the needs of Indian consumers. Upon entering the name of a select medication into the Samsung Health app, the Medications feature will provide users with detailed information including general descriptions, as well as its possible side effects.

In addition, the new feature will provide information on adverse reactions from drug-to-drug interactions and other relevant safety guidance. Users can set up alerts to remind them both when to take their medications and when to refill them seamlessly through the Samsung Health App.

These alerts can be fine-tuned to the need of the individual user, so the medications can be prioritized depending on their importance to the user, with Samsung Health sending reminders ranging from “gentle” to “strong”. Galaxy Watch users will also receive reminders right on their wrist so they can stay on top of their medication schedules, even when away from their phones.

The Samsung Health app already provides a range of advanced health offerings spanning sleep management3, mindfulness programmes and irregular heart rhythm notification4 capabilities. The introduction of the Medication tracking feature in India will further reinforce Samsung’s commitment to create holistic wellness experiences for its users, enabling them to lead healthier, more fulfilling lives.

The Medications tracking feature will be available on the Samsung Health app in India via the app updates.

1Samsung Health Medications feature is intended to help users manage their medication list and schedule. Information provided is evidence-based content licensed from Tata 1mg.
2Requires smartphone with Android 10.0 or later and Samsung Health app version 6.28 or later. Availability for the features may vary by device.
3Sleep features are intended for general wellness and fitness purposes only. The measurements are for your personal reference only. Please consult a medical professional for advice.
4The IHRN feature is only available in select markets. Available on Wear OS devices version 4.0 or later. It is not intended to provide a notification on every episode of irregular rhythm suggestive of AFib and the absence of a notification is not intended to indicate no disease process is present. It is not intended for users with other known arrhythmias. The features are supported via the Samsung Health Monitor app. Availability may vary by market or device. Due to market restrictions in obtaining approval/registration as a Software as a Medical Device (SaMD), it only works on watches and smartphones purchased in the markets where service is currently available (however, service may be restricted when users travel to non-service markets). This app can only be used for measuring in ages 22 and over.

MIL OSI Economics –

January 25, 2025
MIL-OSI Economics: Phil Mnisi: Banking Supervision Application Version 5.0 Launch
Source: Bank for International Settlements
- Programme Director
- Honourable Guests
- Representatives from the Bank Supervision Office in Mozambique
- Distinguished Members of the Banking Industry
- Regulatory Authorities present here
- Mobile Money Operators
- Ladies and Gentlemen
- Good Evening!
Introduction

It is both a privilege and an honour to stand before you today, as we gather for the official launch of a significant advancement in our financial regulatory landscape. The launch of the Banking Supervision Application (BSA) Version 5.0 today marks a milestone in our collective efforts to enhance the regulatory framework of our financial sector, strengthening the very foundation of data integrity, financial stability, and consumer protection.

Our journey with the Banking Supervision Application began in 1997, in partnership with various Central Banks across Africa. Since the launch of Version 1 in 2003, the BSA has continuously evolved, with significant improvements culminating in the release of Version 4.0 in 2018. Today, we are proud to unveil Version 5.0, a remarkable milestone for a system that now serves 21-member Central Banksacross Africa, Asia, and America, each actively contributing to the system’s continued growth and enhancement.

This upgraded version is not only more advanced than previousversions but also more agile, designed to meet the emerging complexities of modern banking. It reflects the dynamic nature of the financial landscape and our proactive approach to addressing and supporting innovation as well as the challenges faced by financial institutions.

Why This Upgrade Matters

As we all know, the banking sector is the backbone of our economy, and its soundness directly impacts our nation’s prosperity. As the world evolves, so too must our regulatory tools. We are living in an erawhere technology is reshaping the way banking services are delivered, and the need for data-driven supervisory oversighthas never been more critical. Thus, it is imperative that our regulatory tools remain robust, efficient, and adaptable to the continuously shifting financial landscape.

Version 5.0 is a testament to our dedication to technological innovationand regulatory excellence, in line with our vision “to be a centre of excellence and central bank of reference”. This Financial Regulatory Technology is equipped with several key features that enhance our supervisory capabilities, which include:

a. Responsive Design: The new version is compatible with various devices, allowing seamless access whether on a computer, tablet, or smartphone. Thisflexibility is essential for regulators and financial institutions operating in today’s fast-paced environment.

b. Postback Effects Elimination: The system has been designed to avoid postback effects when selecting elements within a screen, ensuring a smoother and more efficient user experience.

c. Customizable Dashboards: Users can now define their own dashboard layouts, allowing them to access the most relevant information at a glance. This feature enhances user experience and efficiency by tailoring theinterface to individual needs.

d. Enhanced User and Role Management: The new version allows for more granular management of users and roles, ensuring that the right people have access to the right information, enhancing security and operational efficiency.

e. Automated Programming Interface (API): The BSA now integrates with other financial applications, enabling near real-time data access, streamlining compliance, and automating reporting processes.

f. Consumer Protection Module (CPS): One of the standoutfeatures of Version 5.0 is the introduction of a Consumer Protection System that includes tools for managing complaints, monitoring compliance, analysing consumer data, and providing virtual assistance for frequently asked questions. This will significantly bolster our efforts to safeguard the interests of consumers, ensuring fair treatment across the financial sector.

Benefits to the Financial Sector

This upgrade will benefit not only the Central Bank but also the broader financial sector, which plays a critical role in our financial ecosystem. By providing more streamlined compliance processes and faster data retrieval, the system will empower the financial institutions to make data-driven decisions, improving both the accuracy and efficiency of regulatory reporting.

Gratitude and Acknowledgments

This achievement would not have been possible without the dedication and hard work of many individuals. I will request that we give them a round of applause.

I would also like to extend my deepestgratitude to the CBE Team comprising of Financial Regulation and IT departmentsfor having worked tirelessly to ensure a seamless deployment process. My sincere gratitude to the entire project management team for your exceptional efforts in ensuring the successful delivery of this project.

In addition, I would like to acknowledge the cooperation and support of our external stakeholders, particularly the Bank Supervision Office in Mozambique and the member countries currently using BSA. Their feedback and collaboration have been instrumental in the successful rollout of Version 5.0.

Looking Ahead

The financial sector is dynamic, and while BSA Version 5.0 equips us with the tools to address current challenges, it is crucial that we continue to innovate and adapt our approaches, remaining vigilant and responsive to emerging trends. Our goal remains clear, to promote the safety and soundness of the financial sector while ensuring its stability, an environment where financial institutions can remain competitive and thrive.

In closing, let me reaffirm our commitment to excellence in regulation and supervision. The launch of Version 5.0 is a significant milestone in this journey. I am confident that this system will enhance our capabilities and guarantee that we continue to uphold the highest standards of financial oversight.

As we move forward, let us continue to work together to build a resilient and dynamic financial system that supports the economic growth and development of our beloved Kingdom of Eswatini.

To celebrate our achievement, I am excited to present avideo that summarizes the significant milestones we have accomplishedin the development and deployment of BSA Version 5.0. It reflects the hard work, collaborative efforts and innovation that have fueled this project’s success.

With those words, I thank you all Ladies and Gentlemen!
MIL OSI Economics –
January 25, 2025
MIL-OSI: Lender Market Launches Groundbreaking AI Financial Advisor for Businesses, Revolutionizing Bookkeeping in Seconds

Source: GlobeNewswire (MIL-OSI)

TOMS RIVER, N.J., Oct. 24, 2024 (GLOBE NEWSWIRE) — In a major leap forward for business owners and entrepreneurs, Lender Market has unveiled its cutting-edge AI ﬁnancial advisor, designed to automate bookkeeping and ﬁnancial management in record time. This advanced system is capable of processing multiple bank statements and categorizing ﬁnancial data in just ﬁve seconds, a game- changing feature for businesses of all sizes.

A Breakthrough in Financial Efﬁciency

For many businesses, bookkeeping is often a time-consuming and complex task, requiring meticulous attention to detail to categorize income, expenses, and transactions. Lender Market’s new AI advisor changes this narrative by offering an unprecedented level of speed and accuracy. With the ability to instantly analyze bank statements across multiple accounts, the AI can efﬁciently categorize debits, credits, and expenditures into clear and actionable insights.

Unlike traditional bookkeeping methods, which can take hours or even days, this innovative tool delivers results in just ﬁve seconds. For businesses managing multiple accounts and transactions, this means saving valuable time and resources that can be reallocated to more strategic aspects of operations.

How It Works: An Intelligent Financial Advisor

The AI-powered ﬁnancial advisor by Lender Market doesn’t just perform basic categorization. It intelligently reads statements and understands the context of transactions, ensuring accurate classiﬁcation. By examining debits, credits, and transaction histories, it provides businesses with a holistic ﬁnancial picture at a glance.

The tool can handle complex ﬁnancial data from various sources, making it an essential asset for businesses that deal with multiple revenue streams or expenses. The AI automatically categorizes transactions into predeﬁned categories or custom tags, enabling detailed ﬁnancial tracking and reporting that can be tailored to speciﬁc business needs.

Empowering Businesses with Real-Time Insights

Beyond just bookkeeping, Lender Market’s AI offers deeper ﬁnancial insights that help business owners make informed decisions. By analyzing patterns in ﬁnancial data, it can identify potential cost savings, highlight areas for investment, and suggest ways to optimize cash ﬂow. This empowers businesses to manage their ﬁnances with greater precision and foresight.

With these real-time insights, business owners can maintain tighter control over their ﬁnancial health, identify growth opportunities, and avoid potential pitfalls. The AI can also be integrated with Lender Market’s lending platform, allowing businesses to receive personalized loan recommendations based on their ﬁnancial performance.

A Game-Changer for SMBs

This innovative solution is particularly valuable for small and medium-sized businesses (SMBs), where time and ﬁnancial resources are often stretched thin. SMB owners can now access the same level of ﬁnancial intelligence as larger corporations, without the need for a full-ﬂedged accounting team.

The AI advisor offers a user-friendly interface, ensuring that even those without ﬁnancial expertise can beneﬁt from its features. Business owners can simply upload their bank statements, and within seconds, they receive categorized ﬁnancial reports that are easy to understand and act upon.

The Future of Financial Management

Lender Market’s AI ﬁnancial advisor represents the future of ﬁnancial management for businesses. By streamlining bookkeeping processes and offering real-time ﬁnancial insights, it empowers businesses to focus on growth and innovation. As more companies turn to AI-powered solutions, Lender Market is at the forefront of this revolution, helping businesses navigate their ﬁnancial landscapes with conﬁdence and ease.

With this latest launch, Lender Market solidiﬁes its position as a leader in ﬁnancial technology, offering businesses the tools they need to succeed in an increasingly competitive market.

About Lender Market

Lender Market is a pioneering ﬁnancial technology platform that leverages AI to provide businesses with tailored ﬁnancial solutions, from bookkeeping and advisory services to lending recommendations. The platform’s goal is to empower businesses with smarter ﬁnancial tools, enabling them to grow sustainably and efﬁciently.

Says Eli Ofel the CEO and founder of lender market. Also founder of leaa health and 02 market the price comparison platform.

For more information on how Lender Market’s AI ﬁnancial advisor can transform your business’s ﬁnancial management, visit Lender Market’s website.

PR Contact Information Media Contact:

Contact Person: Eli Ofel

Phone Number: 732.808.3305

Email: Eli@lender.market

The MIL Network –

January 25, 2025
MIL-OSI United Kingdom: British High Commission celebrates King’s birthday, 2024
Source: United Kingdom – Executive Government & Departments

The British High Commission will today (23 October) host the King’s Birthday Party, its annual celebration to mark the British Monarch’s birthday.
British High Commissioner to India, Lindy Cameron with P Kumaran, Secretary of Economic Relations and Development Partnership Administration, Ministry of External Affairs

The gala event pays tribute to His Majesty King Charles III as the UK’s Head of State.

In addition to his official and ceremonial duties in the UK and overseas, His Majesty has championed a wide range of causes relating to the environment and sustainable development, the arts, healthcare and education for decades.

A wide range of dignitaries from the Government of India, representatives from Commonwealth nations, business leaders, and eminent personalities from the fields of diplomacy, arts, education, research, business, and sports are expected to attend. The celebration will also highlight the vibrant business links that exist between our countries.

The event reflects the modern partnership between the UK and India with a specially designed food menu of British Indian cuisine from Ambassador for the GREAT Britain & Northern Ireland campaign Chef Vineet Bhatia MBE, music by DJ Lush Lata, and interactive displays from some of the UK’s leading businesses operating in India.

Lindy Cameron, British High Commissioner to India, said:

His Majesty The King has an enduring interest in promoting a modern partnership with India and its people. It is such a privilege to celebrate His Majesty’s birthday with friends in India who have been so generous to me since I arrived. I can think of no more interesting country to live in, no better time to be here.

I also extend my heartfelt thanks to everyone joining the celebration in Delhi; it is the people that make the UK-India partnership come to life, and the deep economic connections through companies like HSBC India that make it thrive.”

This year’s King’s Birthday Party celebrations in Delhi were made possible by the gracious support of HSBC India, Reliance Industries Ltd, OMA living – A Hero Motors Company, The Body Shop, bp, Airbus, BAE Systems, Shell India, British Airways, UK India Business Council, Aston Martin New Delhi, Truefitt & Hill, Diageo India, William Grant and Sons, Beam Suntory, Colliers Cheese and Fortune Gourmet Specialities, Nimkish Enterprises.

Further information

free-to-use high resolution images from the event will be uploaded to Flickr

the King’s Birthday Party is celebrated by British Embassies and High Commissions around the world

the King’s Birthday falls on 14 November, but his official Birthday in 2024 was marked on 15 June, when The King’s Birthday Parade (also known as Trooping the Colour) was held in London

His Majesty has undertaken 10 official visits to India, most recently in November 2019 when he visited New Delhi and Mumbai to celebrate British-India connections with a focus on sustainable markets, climate change and social finance

His Majesty King Charles III was born in 1948 and became heir apparent on the accession of Queen Elizabeth II in 1952

Media

For media queries, contact:

David Russell, Head of Communications
Press and Communications, British High Commission,
Chanakyapuri, New Delhi 110021. Tel: 24192100

Media queries: BHCMediaDelhi@fcdo.gov.uk

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Published 24 October 2024
MIL OSI United Kingdom –
January 25, 2025
MIL-OSI: Equifax Canada Champions Financial Inclusion for Newcomers to Canada with the Launch of Global Consumer Credit File

Source: GlobeNewswire (MIL-OSI)

TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) — Equifax Canada has launched the Global Consumer Credit File, an innovative solution designed to empower lenders to make more confident credit lending decisions for newcomers to Canada. The solution creates a calibrated credit score using newcomers’ credit histories from their countries of origin. The platform offers lenders and newcomers to Canada a seamless and secure means to access global credit data which is essential in obtaining services such as housing, credit cards, and mobile phone contracts.

Immigration to Canada continues to grow, with the country on track to welcome 500,000 new immigrants annually by 2025. Many of these newcomers will arrive with credit histories that often go unseen by Canadian financial institutions. People who are new to Canada often have a thin credit file (generally defined as having 2 or less credit lines) with little to no credit history because their credit file from their country of origin may not carry over to Canada. Without a more robust credit file, newcomers may face greater challenges in navigating the Canadian financial economy such as accessing credit cards or mortgages with favourable rates or renting an apartment. Having a credit score allows newcomers to Canada to gain access to greater financial opportunities.

Robust Credit Bureau data from around the world
The Global Consumer Credit File allows newcomers to leverage their global credit profiles when they apply for the credit necessary to build their financial lives in Canada. It offers a seamless and secure way of connecting financial data within Equifax Consumer Credit bureaus worldwide to create a calibrated score and helping to give financial visibility to individuals who are new to Canada. With this trusted information, lenders can make more informed decisions and help to expand credit access for newcomers based in part upon information gained from their international credit histories. The Global Consumer Credit File will launch with credit information from India, with plans to expand the service for newcomers from Brazil, Argentina, and Chile over the coming months, and a future roadmap that includes 18 countries total.

“At Equifax Canada, we are committed to supporting the Canadian financial ecosystem to help provide more inclusive financial opportunities that move people forward,” said Sue Hutchison, President and CEO of Equifax Canada. “Newcomers to Canada bring a wealth of talent and ambition to this country, and we are proud to play a role in helping them gain access to the credit they need to thrive. The Global Consumer Credit File allows us to empower these individuals from day one, helping them establish their financial roots and contribute to Canada’s vibrant economy.”

Canada’s immigration strategy is a cornerstone of its economic growth. Equifax Canada is set to support this growth by providing lenders with access to trusted global data, expanding credit opportunities, and fostering a more inclusive financial landscape for all Canadians.

“Financial inclusion is about more than just credit access,” added Hutchison. “It’s about creating opportunities for everyone to succeed and contribute to the economy. Equifax is proud to lead the charge in ensuring that newcomers have the tools they need to build a strong financial future here in Canada.”

By reducing barriers to financial access, the Global Consumer Credit File can help newcomers to Canada realize their full potential from the moment they arrive, along with those already in Canada, ensuring that they can thrive both financially and personally.

About Equifax
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca.

Contact:

Andrew Findlater
SELECT Public Relations
afindlater@selectpr.ca
(647) 444-1197

Angie Andich
Equifax Canada Media Relations
MediaRelationsCanada@equifax.com

The MIL Network –

January 25, 2025
MIL-OSI USA: Governor Hochul Participates in Axios Fireside Chat

Source: US State of New York

Earlier today, Governor Kathy Hochul participated in Axios’ Fireside Chat with Dan Primack. Axios is an American news website based in Arlington, VA. It was founded in 2014 and launched the following year by former Politico journalists Jim VandeHei, Mike Allen and Roy Schwartz. Axios’ BFD is a half-day event where reporters will convene industry leaders to unpack their hyper-relevant news and trends. This event offers attendees an inside track into some of the biggest topics on investors’ minds.

VIDEO of the event is available on YouTube here and available in TV quality (h.264. mp4) format here.

AUDIO of the Governor’s remarks is available here.

PHOTOS of the event are available on the Governor’s Flickr page.

A rush transcript of the Governor’s remarks is available below:

Dan Primack, Axios: As I’ve said a couple of times from this stage, we are a couple of weeks away from an election, so it felt apropos that we should have an actual politician on stage — not just somebody talking about politics. So please welcome the Governor of New York, Governor Kathy Hochul.

Governor Hochul: An actual politician?

Dan Primack, Axios: An actual politician. Sorry, is that offensive?

Governor Hochul: I prefer an elected official. It sounds a little nicer, but if you have to call me a politician, I’ve been called worse.

Dan Primack, Axios: Alright. So, governor, you’ve said — Governor’s Office says — but you’ve said you want to make New York the most business friendly state in the country. How do you gauge that? What’s your metric for that?

Governor Hochul: Well, sometimes it’s not what you do, it’s what you stop from happening. Like a major tax increase on high net worth people that I was able to, you know, stop in its tracks last year. Because I’m not in the business of driving successful people out of our state, I want to bring them back to the State. And so, it’s also, it’s economic policies, it’s also saying that, you know, “We’re going to break down some barriers for you and we’ll be there with financial incentives.” And we’ll talk about Micron, I presume, but there’s no way Micron was going to build the nation’s largest semiconductor facility — $100 billion of investment, the largest in our history, with 50,000 jobs — if there weren’t incentives from the Biden-Harris Administration. But that just meant that all 50 states could compete. I had to win that war and put $10 billion on the table for that entire industry. So you have to have incentives in place, you have to go after the businesses you want, and now I’m going after the whole supply chain to support Micron and others who are coming. So, it’s very intentional. You don’t say, “We’re in New York. Everybody’s going to come,” because we’re in a competitive race and I’m a very competitive person. So I don’t want to lose that and I’ll do whatever I have to do to make sure people know that we are the place, and I’ll be judged by how many jobs we create. I’m starting off with 50,000 right there, so I’m already ahead of the game.

We’ve also created more manufacturing jobs, stopping a 30 year decline in manufacturing. Now we’re talking about advanced manufacturing. So, we have the evidence to show that in the three years I’ve been governor, really putting the focus on this, we’re seeing results already.

Dan Primack, Axios: How do you, you know — a big part of what you’re working on, and we’ve heard a bunch today about this Empire AI Initiative. And as part of this, you got about $275 million from the State and there’s another $150 million from the private sector. It’s an enormous amount of money. However, it’s also less than 10 percent, say of what OpenAI, a California company, raised in the private sector on its own just two weeks ago. Can companies in New York compete with what’s happening in Silicon Valley when you see — in AI — when you see the enormous amounts of money going into these companies?

Governor Hochul: I’m not competing with the private sector to own AI. My view is — as I announced in my State of the State last January — that whoever owns this next chapter of AI for public good will own everything. So what we have —

Dan Primack, Axios: What does that mean for public good?

Governor Hochul: I will be very happy to tell you. I was just at the University of Buffalo two weeks ago with Marilyn Simons and Tom Secunda — the individuals who helped us innovate this, which no other state in the nation has entertained. I can tell you that Microsoft and OpenAI — they have amazing supercomputers dedicated to AI for their own profit; for the private sector. But we said, “We want to democratize AI, make it available to solve society’s problems, innovate new cancer therapies, help us predict weather better than we have been, so I know when that storm is coming and what I can do to prepare for it,” and all kinds of social problems that we can solve by being creative. So what I decided to do is put $275 million with the Legislature’s support — and that’s not always the easiest thing to do — then convince them to let go of that money and really take a leap of faith with me. But then the private sector raised $150 million — but we have university partners. This is what sets us apart. I have Cornell and NYU and RPI and Flight Iron Institute, Columbia, CUNY and SUNY schools all have bought into this, so they get a piece of the action. Their researchers, their students can use the power that I’ve created at a place called Buffalo, New York — where I’m from — and that is going to power the whole state’s research. And so nobody else touched this.

Dan Primack, Axios: Are you — and you mentioned Buffalo, New York, and we were talking backstage — are you concerned about the power needs for this supercomputer and other AI projects in the State?

Governor Hochul: Well, I picked Buffalo for a variety of reasons — and we just announced another supercomputer at the University of Albany — but because power is less expensive Upstate, It’s more plentiful; space is less expensive. So it’s all being used across the State. But as far as its home — I have Niagara Falls, which has been powering our state since since the original Tesla. So, we’ve been doing this since the turn of the last century.

So, I’m always concerned about capacity though as we’re attracting more and more, you know, large data centers and the supply chain companies that are now rushing to New York. I mean, I’ve been bringing companies from all over the world to Upstate New York now because of this whole innovation ecosystem we’re creating. But I have to focus on — not just our wind and solar and hydro and geothermal — but we’re going to have to look at other sources as well and be real aggressive about it because the states that are leaning into the energy sources are the ones that’ll win the race and we cannot lose that.

Dan Primack, Axios: From your perspective, what is the biggest mistake businesses make when dealing with New York State government?

Governor Hochul: When they’re dealing with our state government they have to have more skin in the game, and I want them to be fostering our social goals. And let me explain why Micron was so attractive to us: I’m a mom. I used to work on Capitol Hill for Senator Moynihan a long time ago. When my kids were born, I had no child care, had to leave the workforce for a while. We talk to companies like Micron and we say, “We want a number of things from you. We’ll help you. We want you to provide child care on site.” A lot of companies would say, “I’m not sure.” I said, “Do you want to diversify your workforce? Would you like to get more women? Would you like to get young women? Would you like to have it be a family friendly place?” Guess what they’re building right now? A child care center on site. We want them to draw from the neighbors, the neighboring communities that are underserved — the City of Syracuse. We want you to put in workforce development programs. We’re literally changing the curriculum in nine counties around where Micron will go, working with our teachers union, to say, “We’re going to teach young people coding and other computer science skills while they’re still in grade school and high school.”

So when Micron says, “Why would we come to Upstate New York?” You’re asking me to do all these things to further your social goal. But this is for your workforce. You’ll have a workforce that is not transitional. You’re not always going to have to be hiring someone. They’re not going to leave you after 18 months. They will stay. And that is part of the culture of Upstate New York, where I’m from, with the legacy industries, like the Bethlehem Steels — where my dad and grandpa worked — and Kodak and Bausch and Lomb. I say to them, “One of the drivers of why people should be coming to New York State is that we have a workforce that is brilliant. But also, they’ll stay with the company unlike what happens in other parts of the United States.”

Dan Primack, Axios: Let me tie two things together. You talked about skin in the game and you’ve talked about Buffalo and Upstate New York. One of the biggest deals I guess you’ve done as Governor is getting the stadium financing deal done for your Buffalo Bills. I will say your Buffalo Bills.

Governor Hochul: No, no. The only team that plays in New York.

Dan Primack, Axios: Fair enough. The only team that plays in New York.

Governor Hochul: Okay, and I love my other teams too, but just —

Dan Primack, Axios: Fair. Look, I’m from Boston, I — good, yeah, slam the Jets and the Giants, I’m good with this.

Governor Hochul: You want to go there? Okay. How are the Red Sox doing? How are the Red Sox doing?

Dan Primack, Axios: We don’t waste our money. Okay, so we — let me just ask though — when you talked about skin in the game, the package for the new Bills stadium is the most public financing ever for a football stadium in the U.S. Why don’t the taxpayers of New York get some skin in the game themselves? Why was there talk about negotiating some actual equity for the State of New York in this team?

Governor Hochul: Here’s what I’m going to explain to you: Look at the more recent data. This is not the largest subsidy for a team.

Dan Primack, Axios: But it’s huge. Let’s just stipulate very big.

Governor Hochul: Well, in proportion to the cost. And I was very smart when I negotiated this because I said, “There’s no cost escalation for the State.” So we’re in for $650 million of what’ll be well over a $2 billion stadium. The State of Tennessee kicked in a billion for their stadium. So we’re not in that league. But also, what happened was it wasn’t just waking up one day and — oh, let’s do a new stadium. They had a lease that expired. Other states were looking to recruit them. I know this for a fact. It’s a small market, the Buffalo Bills, there’s companies, states and cities that were luring them. I had to close the deal, because this is part of the identity of most of Upstate New York. Most of Upstate New York affiliates with this team, and this is important — an economic driver as well. We get a return on investment. After 17 years, I will have paid back that $650 million just in the income tax on salaries from the players.

Dan Primack, Axios: In that amount of time, the value of the team could be five times what it is now, and it’s the owner of the team who’s going to get to benefit the most.

Governor Hochul: Well, I’ve made sure that they are a Buffalo Bills team, not one of the other five cities that I was in competition with. Remember, I don’t lose anything — we don’t lose. This is an economic decision and the money will be paid back in 17 years, or perhaps sooner the way the salaries are going.

Dan Primack, Axios: Let me ask something else about balancing because you’ve talked about balancing, which is obviously the New York City congestion tax, or the congestion fee, rather, which you decided to kill shortly before it went into impact. How do you balance economic needs of the City and of the State with your climate goal?

Governor Hochul: Again, I’m going to correct a word here — kill versus pause.

Dan Primack, Axios: Okay, indefinitely pause. Is that indefinite going to come off?

Governor Hochul: I never used the word indefinitely. Those are people who are criticizing my decision to say that at this point — when we are dealing with escalating inflation, which was not even a factor — this is the first time in four years that inflation has really been a real burden for New Yorkers.

Fifteen dollars to start out of the blue. All of a sudden, turn it on — it didn’t take into consideration how New Yorkers are struggling right now. So, I said we’re going to put this on a pause for now, because I also have many other energy goals and climate goals that I’m focused on, but that does not mean it is dead. I know how to kill something. I did not kill it.

Dan Primack, Axios: You’ve said there’d be — I think you said, and correct me if I’m wrong — there’d be a replacement plan by year-end. Is that still on target?

Governor Hochul: Yes. We have until the year-end.

Dan Primack, Axios: You have until year-end. Do you expect that by year-end, there will be a replacement plan?

Governor Hochul: I will have revealed, to the world, the strategy that we’ve been working on for a long time with the Legislature, which is also involved. I want to be clear on that. The Legislature is not in session right now, but that was a decision that was based on the fact that $15 is too much for New Yorkers right now. And, even London — that people tout and look at what they did in London — they started at €8 at the time and gradually, over time, went up to that, so there’s not a shock to the system.

And, also, I’m focused on bringing the City back. People can work remotely, right? This wasn’t even an option when this congestion pricing was put in place in 2019. It wasn’t even an option. Of course you’re going to come to work. And it’s $3,800 more a year at $15.

That’s a lot for a teacher, or a health care worker, or a delivery person coming in from Queens or a plumber coming into town. So, I’m just the kind of Governor that’s going to look at the impacts of decisions — who’s being hurt by this? Can they defend themselves? Do they have lobbyists? Do they have access to the editorial boards? No, these folks don’t. I was their voice, but I’m also saying, I am so vested in making sure that we achieve our climate goals because I believe in them.

I grew up in a toxic environmental dump. The air was orange when I was growing up because of the smoke billowing out of the steel plant, which created 20,000 jobs, but nobody cared about the environmental impact. So, I’m going to make sure that New York continues to be nation leading and achieving our energy goals, our climate goals.

Dan Primack, Axios: Do you feel the remote work or the hybrid work revolution — call it post-COVID — do you feel that’s changed Manhattan permanently?

Governor Hochul: Yes. Yes, it has. But we can always reimagine Manhattan just like we did after 9/11 — and, I give Mayor Bloomberg a lot of credit for what he did during that era. When you look at this place, people did not live in lower Manhattan, they worked there but they never lived there. Now, it is a thriving 24/7 community.

We can do that in Midtown as well, and I’m convinced of this — that we can take with the laws I had to change because you couldn’t convert commercial into residential without a change in the law that I was able to secure just a few months ago. Now developers can look at a commercial building in Midtown and say, “You know what? It’s only 30 percent full. I’m not sure people are coming back. Let’s convert it into housing.”

Now I’ve got more affordability because I’ve created supply, which is everything.

Dan Primack, Axios: You mentioned Mayor Bloomberg. Let me ask about a more recent, current mayor. Business people talk all the time about wanting certainty. They often do it for their own purposes. How is it problematic for New York City’s business particularly, to have a mayor who is under indictment?

Governor Hochul: I speak to business leaders all day long, including this morning over a breakfast meeting. Some significant leaders. And I asked them that question: How are you feeling? And the answer was, “Well, three weeks ago, it was a hair on fire moment.” And I’ve stepped in to offer the stability to say, we’ll work with the Mayor to get through this because I come from a business family. I know uncertainty is paralyzing, but they are expressing to me that they now have confidence, there’s been changes in the administration.

They know that I’m keeping an eye on this situation because I want the City — and I represent 8.3 million New York City residents as well. These are my constituents. We will make sure that their services are provided. They will not see a disruption in what they’re accustomed to getting because they deserve to have the best. And I’m watching all this.

Dan Primack, Axios: You obviously originally were running mates, or you served under former Governor Cuomo. There’s lots of talk about him possibly running for mayor here. I’m not asking, obviously, who you would endorse. I’m asking, should voters consider him as a viable candidate if he chooses to run, given what happened in the past and some of the things you’ve said about what he did in the past?

Governor Hochul: I’m not here to pass judgment on people right now. But I will say this: New Yorkers deserve people with integrity and accomplishments and who do things for the right reasons. Who will do it for the benefit of the people and not their own self-serving reasons. So I will be looking for people like that.

Right now we have a mayor — we have an elected mayor of the City of New York. Everything could change or everything may not change. But we do know we have an election two weeks from now. Two weeks from now. And that is the one that we’re focused on, as well as my intensive, intensive work — not just for Kamala Harris.

I just got back from seeing her in Michigan and we were in Pennsylvania, but here in New York, we have the opportunity to give President Kamala Harris a Democratic House Representatives. And I am laser focused on making sure Hakeem Jeffries, our very own New Yorker who knows our community and its needs and knows I’m going to need money for the MTA for example. Give me more money for public transit. That’s my number one ask. I have to make sure we pick up some seats in the Hudson Valley. And in Long Island, I just came in from Long Island just a little short time ago. And, you know, the polls are showing that areas that were written off, are now in place. So the world is going to change in two weeks.

Dan Primack, Axios: Let me ask one quick final question because we are out of time. You have said you are, I think the term was “Not going anywhere.” Plan to run for reelection here. If Kamala Harris wins the White House and she calls you up, says, “Governor Hochul, we would like you to come down to D.C. and serve as secretary of X.” Are you going?

Governor Hochul: I’m going to say this and you can quote me 1,000 times: “President Harris, I’m honored that you’d consider me to join your brand new administration — historic. I’m so excited about you, but I’m going to do better for you continuing as the Governor of New York because you’re going to need allies in our state houses to make sure that we continue the great partnership that I’ve had with the Biden Administration. And I’m not going anywhere.”

Dan Primack, Axios: Governor. Thank you. Appreciate it

MIL OSI USA News –

January 25, 2025
MIL-OSI: Micron SSDs Qualified for Recommended Vendor List on NVIDIA GB200 NVL72

Source: GlobeNewswire (MIL-OSI)

BOISE, Idaho, Oct. 23, 2024 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU), today announced that its 9550 PCIe Gen5 E1.S data center SSDs have been added to the NVIDIA recommended vendor list (RVL) for the NVIDIA GB200 NVL72 system and its derivatives.

The GB200 NVL72 uses the GB200 Grace Blackwell Superchip to deliver rack-scale, energy-efficient AI infrastructure. The enablement of PCIe Gen5 storage in the system makes the Micron 9550 SSD an ideal fit for optimizing performance and power efficiency in AI workloads like large-scale training of AI models, real-time trillion-parameter language model inference and high-performance computing (HPC) tasks.

Micron 9550 delivers world-class AI workload performance and power efficiency:

Compared with other industry offerings, the 9550 SSD delivers up to 34% higher throughput for NVIDIA Magnum IO ^™ GPUDirect ^® (GDS) and up to 33% faster workload completion times in graph neural network (GNN) training with Big Accelerator Memory (BaM).¹ The Micron 9550 SSD saves energy and sets new sustainability benchmarks by consuming 81% less SSD energy per 1TB transferred than other SSD offerings with NVIDIA Magnum IO GDS and up to 43% lower SSD power in GNN training with BaM.¹

“Micron’s memory and storage products play a critical role in meeting the growing requirements of demanding AI workloads from the data center to the edge,” said Jeremy Werner, corporate vice president and general manager of Micron’s Storage Business Unit. “By integrating the Micron 9550 SSD on the GB200 NVL72, server companies can integrate a high-performance, energy-efficient Gen5 data center storage solution into their AI server systems.”

“Ultra-fast and energy-efficient NVMe storage is crucial to the NVIDIA GB200 NVL72 rack-scale design,” said Keith Morris, vice president of Product Management at NVIDIA. “The Micron 9550 SSD can be integrated by our solution partners into their systems based on the GB200 NVL72 reference architecture to enable higher performance and efficiency.”

In addition to the Micron 9550 PRO PCIe Gen5 3.84TB, 7.68TB, and 15.36TB E1.S SSDs, the Micron 7450 PRO 3.84TB E1.S and 1.92TB M.2 SSDs have also been listed on the same NVIDIA RVL. Micron is working closely with server ODMs and OEMs to qualify the Micron 9550 and 7450 SSDs into their NVIDIA GB200 NVL72 solutions.

The NVIDIA GB200 Grace Blackwell Superchip will also ship with Micron’s LPDDR5X memory to provide a unique combination of high capacity, low power and enhanced RAS (reliability, availability and serviceability) capabilities for AI server infrastructure.

For more information, visit these additional resources:

About Micron Technology, Inc.

We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron^® and Crucial^® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

© 2024 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.

Micron Media Relations Contact
Kelly Sasso
Micron Technology, Inc.
+1 (208) 340-2410
ksasso@micron.com

¹ Competitive comparisons with performance-focused 1 DWPD 7TB SSDs from Kioxia and Samsung available in the market and as tested in Micron labs.

The MIL Network –

January 25, 2025
MIL-OSI: Alation Launches Season 3 of Data Radicals Podcast to Spotlight Data and AI’s Impact on Business and Society
Source: GlobeNewswire (MIL-OSI)

REDWOOD CITY, Calif., Oct. 23, 2024 (GLOBE NEWSWIRE) — Alation Inc., the data intelligence company, today announced the launch of Season 3 of the Data Radicals podcast. The new season, hosted by Satyen Sangani, Alation’s CEO and co-founder, focuses on AI’s transformative power to unlock business value, featuring firsthand accounts and practical insights from leaders and practitioners implementing AI in their organizations. This season will explore how organizations leverage trusted data and AI to drive innovation and realize new business opportunities.

Data Radicals has become a go-to resource for business leaders seeking insights into AI, data governance, and building data-driven cultures. Available on Apple Podcasts, Spotify, and Alation.com/podcast, Season 3 delivers in-depth conversations with industry visionaries tackling the most pressing data problems in business today. This season’s guests include Dr. Geraldine Wong (CDO of GXS Bank), Stewart Bond (Research VP of IDC), Jeremy Kahn (AI Editor at Fortune), Chris Wiggins (Chief Data Scientist at the New York Times), Dr. Raza Habib (CEO and co-founder of Humanloop), and Tom Davenport (author of All-in on AI), who explore how AI use cases drive smarter decision-making, maximize business value from data initiatives, and reshape industries while creating societal change.

“AI has unlocked extraordinary potential for organizations to reimagine how they use data,” said Satyen Sangani, host of Data Radicals and CEO of Alation. “This season, we explore how AI enables businesses to innovate and disrupt industries and the critical role of trusted data in fueling AI. We’re thrilled to hear from leaders driving AI’s accessibility, trust, and transformative impact. Season 3 will cover the most cutting-edge topics in data and AI, from practical applications like AI-powered chatbots and fraud detection in banking to realizing tangible value from AI initiatives.”

“I applaud Data Radicals for helping to highlight both the opportunities and the risks AI presents,” said Jeremy Kahn, AI Editor at Fortune and author of the book Mastering AI: A Survival Guide to Our Superpowered Future. “We desperately need public education and discussions like those Data Radicals if we are to hope to avoid AI’s dangers and realize its positive potential. It was a pleasure to be on the podcast to help advance this vital conversation.”

“Being a guest on Data Radicals was truly enjoyable,” said Wendy Batchelder, Senior Vice President and Chief Data Officer at Centene. “As a leader who has navigated many of the same data and AI challenges other executives face, it was an honor to discuss the critical role of trusted data in driving organizational innovation. We explored the importance of breaking down silos, understanding organizational dynamics, and the pivotal role data governance and DE&I play in creating impactful business outcomes.”

Upcoming guests for season three of Data Radicals include:
- Dr. Geraldine Wong, Chief Data Officer at GXS Bank
- Stewart Bond, Senior Vice President, Data Integration and Intelligence Software Research at IDC
- Jeremy Kahn, AI Editor at Fortune
- Chris Wiggins, Chief Data Scientist at The New York Times
- Dr. Raza Habib, CEO and co-founder of Humanloop
- Tom Davenport, Distinguished Professor of Information Technology and Management at Babson College, author of All-in on AI, and contributor to Harvard Business Review
Tune into Data Radicals to stay at the forefront of data and AI innovation and discover how these technologies drive business value and reshape the world. Episode one of Season 3, featuring Dr. Geraldine Wong, Chief Data Officer at GXS Bank, is available today anywhere you listen to podcasts.

Sign up for the Data Radicals newsletter here.

See new episodes at alation.com/podcast.

About Alation
Alation is the data intelligence company. Nearly 600 global enterprises — including 40% of the Fortune 100 — rely on Alation to realize value from their data and AI initiatives. Customers such as Cisco, DocuSign, Nasdaq, Pfizer, and Samsung trust Alation’s platform for self-service analytics, cloud transformation, data governance, and AI-ready data, fostering data-driven innovation at scale. Headquartered in Redwood City, California, Alation has been recognized five times by Inc. Magazine as one of the Best Workplaces. To learn more, visit www.alation.com.

Media Contact
Lauren Lloyd
Director, Corporate Communications
541-490-6115
lauren.lloyd@alation.com

The MIL Network –
January 25, 2025
MIL-OSI: c/side Selected for TechCrunch Disrupt 2024 Startup Battlefield, Will Showcase AI-Driven Solution for Securing Vulnerable Third-Party Web Scripts

Source: GlobeNewswire (MIL-OSI)

SAN FRANCISCO, Oct. 23, 2024 (GLOBE NEWSWIRE) — c/side, a cybersecurity company with tools for monitoring, optimizing, and securing vulnerable browser-side third-party scripts, today announced its participation in TechCrunch’s upcoming Startup Battlefield 2024. Selected from thousands of startup applicants, c/side will demo its innovative AI-driven solution to a rapidly accelerating web security threat vector as part of TechCrunch Disrupt, held October 28-30 in San Francisco.

c/side is also co-hosting a social + learning event for the cybersecurity community at Disrupt alongside two other AI-centric security startups, FireTail and Socket, at the offices of Uncork Capital (a c/side investor). The event will be at 6:30pm on October 30th, the final day of Disrupt.

Founded earlier this year by cybersecurity expert Simon Wijckmans, c/side addresses one of the most challenging and consequential risks to business’ client-side web security. The company’s advanced proxy service and AI-driven threat detection engine offer a comprehensive toolkit to identify and neutralize malicious scripts in real-time—significantly enhancing website security and performance.

Accelerated growth following recent venture funding

c/side’s selection for TechCrunch’s Startup Battlefield follows the company’s successful $6 million seed funding round, led by Uncork Capital with participation from Mantis VC, Scribble Ventures, Roar Ventures, and PrimeSet. The round brings c/side’s total funding to $7.7 million since launching a few months ago, underscoring the criticality of c/side’s solution and the confidence investors have in its innovative approach.

“Startup Battlefield selection is a tremendous honor and a validation of our mission to secure the browser supply chain,” said Wijckmans, founder and CEO, c/side. “Recent high-profile attacks have highlighted the urgency of our work. At Disrupt, we look forward to showcasing how our AI-powered solution is making web security more accessible and effective for businesses of all sizes.”

Addressing a critical security gap

c/side’s technology tackles the growing threat of browser supply chain attacks, where malicious actors exploit vulnerabilities in third-party scripts to redirect website visitors, steal sensitive information, or manipulate website content. The company’s solution not only bolsters security but also simplifies compliance with stringent industry regulations like PCI DSS 4.0.

Experience c/side at TechCrunch Disrupt

Attendees of TechCrunch Disrupt at Moscone West in San Francisco are invited to see c/side’s technology in action. The c/side team will demonstrate how their solution revolutionizes client-side security, offering unparalleled protection against this sophisticated threat vector. c/side’s free tier is also now fully operational and available—anyone can sign up and begin securing their site in minutes. Business, Enterprise, and Partner tiers are in development; those interested can contact c/side here.

About c/side

c/side is a forward-thinking cybersecurity startup focused on browser-side detection and protection. Led by industry expert Simon Wijckmans, c/side is pioneering technologies to shield against sophisticated cyber threats, ensuring unparalleled security standards for users across the web.

Contact
Kyle Peterson
kyle@clementpeterson.com

The MIL Network –

January 25, 2025
MIL-OSI United Kingdom: MHCLG appoints Mo Baines as MHCLG Lead Non-Executive Director
Source: United Kingdom – Executive Government & Departments

Mo Baines confirmed as new Lead Non-Executive Director of the Ministry of Housing, Communities and Local Government.
The Deputy Prime Minister, Angela Rayner, has today confirmed that Mo Baines will join the Board of the Ministry of Housing, Communities and Local Government (MHCLG) as Lead Non-Executive Director (NED) for a one-year term, taking effect from 21st October.

Mo Baines is an expert in public policy and local government, with a particular interest in service delivery models, local government finance and research. She is currently Chief Executive at the Association for Public Service Excellence (APSE), and visiting professor at the University of Staffordshire’s Centre for Business, Innovation and the Regions.

The Deputy Prime Minister, Angela Rayner said:

“I’m delighted that Mo will be joining the MHCLG Board. Her knowledge and experience of how local government and public services operate will inform the work and direction of the department, and I look forward to working with her to drive forward our ambitious agenda over the next year.”

MHCLG Lead Non-Executive Director, Mo Baines said:

“I’m honoured to be joining the Department at this time to deliver such an important, challenging and exciting agenda. I look forward to working with the skilled and dedicated team of colleagues from across MHCLG, and wider partners within and across the local government, housing and communities sector.”

For more information:

About Mo Baines

Mo Baines joined the Board of the Ministry of Housing Communities and Local Government in October 2024.

Mo has extensive experience of working in public policy and local government, with a particular background in service delivery models, local government finance and research. She is the Chief Executive at the Association for Public Service Excellence (APSE) and visiting professor at the University of Staffordshire’s Centre for Business, Innovation and the Regions.

Mo has served in a number of other public sector roles over the course of her career, including as Head of Communications and Deputy Chief Executive of APSE, prior to her appointment as Chief Executive. Mo has authored and contributed to a number of public policy research papers and publications on service delivery and insourcing, housing and planning, workforce matters and local government finance. Mo has throughout her career worked closely with public sector trade unions, local councils and councillors across the UK and is passionate about the value of local government services to communities.

About the MHCLG Board

The Departmental Board is chaired by the Deputy Prime Minister, and comprises all junior ministers, senior officials, the Lead Non-Executive and non-executive board members (appointed by the Deputy Prime Minister in accordance with Cabinet Office guidelines). The board meets quarterly, with overarching responsibility for departmental performance and delivery.

The Board provides overall leadership for the department’s business, as well as advice, support and challenge on the delivery and performance of key policy areas and programmes against priority outcomes.

About the appointment process

The Deputy Prime Minister has undertaken this appointment on an interim basis without competition in accordance with the Governance Code on Public Appointments and following consultation with the Commissioner for Public Appointments. The appointment will now ensure that there is NED representation at the first Ministerial Board in November. A competitive recruitment for all other permanent NEDs will take place within the next year and a competitive recruitment for the Lead NED will run once these are in place.

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Published 23 October 2024
MIL OSI United Kingdom –
January 25, 2025
MIL-OSI Canada: Monetary Policy Report Press Conference Opening Statement

Source: Bank of Canada

Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss the October Monetary Policy Report and our policy decision.

Today, we lowered the policy interest rate by 50 basis points. This is our fourth consecutive decrease since June and brings our policy rate to 3.75%.

We took a bigger step today because inflation is now back to the 2% target and we want to keep it close to the target.

In the past few months, inflation has come down significantly from 2.7% in June to 1.6% in September. Recent indicators suggest it will be around 2% in October. Price pressures are no longer broad-based, and both our measures of core inflation are now under 2½%. Our surveys also find that business and consumer expectations of inflation have shifted down and are nearing normal. All this suggests we are back to low inflation. This is good news for Canadians.

Now our focus is to maintain low, stable inflation. We need to stick the landing.

That means the upward and downward forces on inflation need to balance out. Household spending and business investment have picked up this year, but remain soft. This softness has helped take the remaining steam out of inflation. But with inflation back to 2%, we want to see growth strengthen. Today’s interest rate decision should contribute to a pickup in demand.

The Bank forecasts inflation will remain close to the target over the projection horizon. The upward pressure from shelter and other services is expected to gradually diminish. With stronger demand, the downward pressure on inflation is also forecast to dissipate, keeping the upward and downward forces roughly balanced.

If the economy evolves broadly in line with this forecast, we anticipate cutting our policy rate further to support demand and keep inflation on target. The timing and pace of further interest rate cuts will depend on incoming information and our assessment of its implications for the inflation outlook. We will take our monetary policy decisions one at a time.

Let me expand on what we’re seeing in the economy, and how that played into our deliberations.

After stalling in the second half of last year, the economy grew by about 2% in the first half of this year, and we expect growth of 1¾% in the second half. The economy remains in excess supply and the labour market is soft. The unemployment rate was 6.5% in September. Job layoffs have remained modest but business hiring has been weak, which has particularly affected young people and newcomers to Canada. Simply put, the number of workers has increased faster than the number of jobs.

Looking ahead, GDP growth is forecast to gradually strengthen to around 2% in 2025 and 2¼% in 2026, supported by lower interest rates. This forecast largely reflects the net effect of a gradual pick up in consumer spending per person and slower population growth. We also expect growth in residential investment to rise as strong demand for housing lifts sales and spending on renovations. Business investment is expected to strengthen as demand picks up, and exports should remain strong, supported by robust demand from the United States.

The decline in inflation in recent months reflects the combined effects of lower global oil prices, slightly lower shelter price inflation in Canada, and lower prices for many consumer goods like cars and clothes. Going forward, we can expect to continue to see some monthly fluctuations in inflation. But overall, inflation is expected to remain close to target over the projection horizon as upward pressure from shelter and other services gradually diminishes and excess supply in the economy is absorbed.

There are risks around our inflation outlook. The biggest downside risk to inflation is that it could take longer than anticipated for household spending and business investment to pick up. Our recent surveys suggest businesses expect subdued sales and their hiring and investment plans are modest. On the upside, lower interest rates could fuel a stronger rebound in housing activity or wage growth could remain high relative to productivity. There is also elevated geopolitical uncertainty and the risk of new shocks.

Overall, we view the risks around our inflation forecast as reasonably balanced. With inflation back to 2%, we are now equally concerned about inflation coming in higher or lower than expected. The economy functions well when inflation is around 2%.

Let me conclude.

High inflation and interest rates have been a heavy burden for Canadians. With inflation now back to target and interest rates continuing to come down, families, businesses and communities should feel some relief.

The Bank is committed to maintaining price stability for Canadians by keeping inflation close to the 2% target.

With that summary, the Senior Deputy Governor and I would be pleased to take your questions.

MIL OSI Canada News –

January 25, 2025
MIL-OSI Canada: Bank of Canada reduces policy rate by 50 basis points to 3¾%

Source: Bank of Canada

The Bank of Canada today reduced its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is continuing its policy of balance sheet normalization.

The Bank continues to expect the global economy to expand at a rate of about 3% over the next two years. Growth in the United States is now expected to be stronger than previously forecast while the outlook for China remains subdued. Growth in the euro area has been soft but should recover modestly next year. Inflation in advanced economies has declined in recent months, and is now around central bank targets. Global financial conditions have eased since July, in part because of market expectations of lower policy interest rates. Global oil prices are about $10 lower than assumed in the July Monetary Policy Report (MPR).

In Canada, the economy grew at around 2% in the first half of the year and we expect growth of 1¾% in the second half. Consumption has continued to grow but is declining on a per person basis. Exports have been boosted by the opening of the Trans Mountain Expansion pipeline. The labour market remains soft—the unemployment rate was at 6.5% in September. Population growth has continued to expand the labour force while hiring has been modest. This has particularly affected young people and newcomers to Canada. Wage growth remains elevated relative to productivity growth. Overall, the economy continues to be in excess supply.

GDP growth is forecast to strengthen gradually over the projection horizon, supported by lower interest rates. This forecast largely reflects the net effect of a gradual pick up in consumer spending per person and slower population growth. Residential investment growth is also projected to rise as strong demand for housing lifts sales and spending on renovations. Business investment is expected to strengthen as demand picks up, and exports should remain strong, supported by robust demand from the United States.

Overall, the Bank forecasts GDP growth of 1.2% in 2024, 2.1% in 2025, and 2.3% in 2026. As the economy strengthens, excess supply is gradually absorbed.

CPI inflation has declined significantly from 2.7% in June to 1.6% in September. Inflation in shelter costs remains elevated but has begun to ease. Excess supply elsewhere in the economy has reduced inflation in the prices of many goods and services. The drop in global oil prices has led to lower gasoline prices. These factors have all combined to bring inflation down. The Bank’s preferred measures of core inflation are now below 2½%. With inflationary pressures no longer broad-based, business and consumer inflation expectations have largely normalized.

The Bank expects inflation to remain close to the target over the projection horizon, with the upward and downward pressures on inflation roughly balancing out. The upward pressure from shelter and other services gradually diminishes, and the downward pressure on inflation recedes as excess supply in the economy is absorbed.

With inflation now back around the 2% target, Governing Council decided to reduce the policy rate by 50 basis points to support economic growth and keep inflation close to the middle of the 1% to 3% range. If the economy evolves broadly in line with our latest forecast, we expect to reduce the policy rate further. However, the timing and pace of further reductions in the policy rate will be guided by incoming information and our assessment of its implications for the inflation outlook. We will take decisions one meeting at a time. The Bank is committed to maintaining price stability for Canadians by keeping inflation close to the 2% target.

Information note

The next scheduled date for announcing the overnight rate target is December 11, 2024. The Bank will publish its next full outlook for the economy and inflation, including risks to the projection, in the MPR on January 29, 2025.

MIL OSI Canada News –

January 25, 2025
MIL-OSI Global: California’s governor blocked landmark AI safety laws. Here’s why it’s such a key ruling for the future of AI worldwide

Source: The Conversation – UK – By Irfan Mehmood, Associate Professor in Business Analytics and AI, University of Bradford

Anggalih Prasetya / Shutterstock

In a world where artificial intelligence is rapidly shaping the future, California has found itself at a critical juncture. The US state’s governor, Gavin Newsom, recently blocked a key AI safety bill aimed at tightening regulations on generative AI development.

The Safe and Secure Innovation for Frontier Artificial Intelligence Models Act (SB 1047) was seen by many as a necessary safeguard on the technology’s development. Generative AI covers systems that produce new content in text, video, images and music – often in response to questions, or “prompts”, by a user.

But Newsom said the bill risked “curtailing the very innovation
that fuels advancement in favour of the public good”. While agreeing the public needs to be protected from threats posed by the technology, he argued that SB 1047 was not “the best approach”.

What happens in California is so important because it is the home of Silicon Valley. Of the world’s top 50 AI companies, 32 are currently headquartered within the state. California’s legislature therefore has a unique role in efforts to ensure the safety of AI-based technology.

But Newsom’s decision also reflects a deeper question: can innovation and safety truly coexist, or do we have to sacrifice one to advance the other?

California’s tech industry contributes billions of dollars to the state’s economy and generates thousands of jobs. Newsom, along with prominent tech investors such as Marc Andreessen, believes too many regulations could slow down AI’s growth. Andreessen praised the veto, saying it supports “economic growth and freedom” over excessive caution.

However, rapidly advancing AI technologies could bring serious risks, from spreading disinformation to enabling sophisticated cyberattacks that could harm society.
One of the significant challenges is understanding just how powerful today’s AI systems have become.

Generative AI models, like OpenAI’s GPT-4, are capable of complex reasoning and can produce human-like text. AI can also create incredibly realistic fake images and videos, known as deepfakes, which have the potential to undermine trust in the media and disrupt elections. For example, deepfake videos of public figures could be used to spread disinformation, leading to confusion and mistrust.

AI-generated misinformation could also be used to manipulate financial markets or incite social unrest. The unsettling part is that no one knows exactly what’s coming next. These technologies open doors for innovation – but without proper regulation, AI tools could be misused in ways that are difficult to predict or control.

Gavin Newsom said the bill could stifle innovation.
Sheila Fitzgerald / Shutterstock

Traditional methods of testing and regulating software fall short when it comes to generative AI tools that can create artificial images or video. These systems evolve in ways that even their creators can’t fully anticipate, especially after being trained on vast amounts of data from interactions with millions of people, such as ChatGPT.

SB 1047 sought to address this concern by requiring companies to implement “kill switches” in their AI software that can deactivate the technology in the even of a problem. The law would also have required them to create detailed safety plans for any AI project with a budget over US$100 million (£77.2m).

Critics said the bill was too broad, meaning it could affect even lower-risk projects. But its main goal was to set up basic protections in an industry that’s arguably moving faster than lawmakers can keep up with.

California as a global leader

What California decides could affect the world. As a global tech leader, the state’s approach to regulating AI could set a standard for other countries, as it has done in the past. For example, California’s leadership in setting stringent vehicle emissions standards through the California Consumer Privacy Act (CCPA), and its early regulation of self-driving cars, have influenced other states and countries to adopt similar measures.

But by vetoing SB 1047, California may have sent a message that it’s not ready to lead the way in AI regulation. This could leave room for other countries to step in – countries that may not care as much as the US about ethics and public safety.

Tesla’s CEO, Elon Musk, had cautiously supported the bill, acknowledging that while it was a “tough call”, it was probably a good idea. His stance shows that even tech insiders recognise the risks AI poses. This might be a sign the industry is ready to work with policymakers on how best to regulate this new breed of technology.

The notion that regulation automatically stifles innovation is misleading. Effective laws can create a framework that not only protects people, but allows AI to grow sustainably. For example, regulations can help ensure that AI systems are developed responsibly, with considerations for privacy, fairness and transparency. This can build public trust, which is essential for the widespread adoption of AI technologies.

The future of AI doesn’t have to be a choice between innovation and safety. By implementing reasonable safeguards, we can unlock the full potential of AI while keeping society safe. Public engagement is crucial in this process. People need to be informed about AI’s capabilities and risks to participate in shaping policies that reflect society’s values.

The stakes are high and AI is advancing rapidly. It’s time for proactive action to ensure we reap the benefits of AI without compromising our safety. But California’s killing of the AI bill also raises a wider question on the increasing power and influence of tech companies, given they raised objections that subsequently led to its veto.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. California’s governor blocked landmark AI safety laws. Here’s why it’s such a key ruling for the future of AI worldwide – https://theconversation.com/californias-governor-blocked-landmark-ai-safety-laws-heres-why-its-such-a-key-ruling-for-the-future-of-ai-worldwide-240182

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI USA: Vermonters Have One Month to Apply for Federal Assistance Following July Storms

Source: US Federal Emergency Management Agency

Headline: Vermonters Have One Month to Apply for Federal Assistance Following July Storms

Vermonters Have One Month to Apply for Federal Assistance Following July Storms

Vermonters impacted by July’s severe storms, flooding, landslides, and mudslides have one more month to apply for federal disaster assistance, which may include housing repair grants from FEMA or low-interest disaster loans from the U.S. Small Business Administration. The application deadline is November 25, 2024.For the July 9-11 disaster, individuals and households in the designated areas of Addison, Caledonia, Chittenden, Essex, Lamoille, Orleans, and Washington counties should apply by the deadline.For the July 29-31 disaster, individuals and households in the designated areas of Caledonia, Essex, and Orleans counties, are also encouraged to apply as soon as possible. Vermonters affected by both July storms should submit separate applications for each event. Survivors who had loss or damage should apply with FEMA even if they don’t have repair estimates or insurance settlements yet. To be considered, people in the impacted areas need to register with FEMA to begin the process. FEMA will work with survivors to identify what information is needed to determine eligibility.“FEMA remains committed to working with our federal, state, and local partners to support Vermont’s immediate and long-term recovery needs and ensure that everyone who is eligible for assistance receives it,” said Federal Coordinating Officer Will Roy.So far, more than $10.2 million total federal assistance has been approved for survivors of the July storms. This includes: $2 million in U.S. Small Business Administration disaster loans approved. Both individuals and businesses are eligible to apply for low-interest disaster loans from SBA. These loans are designed to help long-term recovery, getting survivors back to pre-disaster condition. For those who would like to speak to a FEMA specialist about applying or have questions about their application and would like to speak to someone face-to-face, three Disaster Recovery Centers are open in Vermont. For information on DRC locations in your area, visit www.fema.gov/drc.There are also three other ways to apply for FEMA: Go online to DisasterAssistance.gov.Call the FEMA Helpline at 1-800-621-3362. Phone lines operate from 7 a.m. to 10 p.m. (in your time zone), seven days a week. Help is available in most languages. If you use video relay service (VRS), captioned telephone service or others, give FEMA your number for that service. For an accessible video on how to apply for assistance go to, youtube.com/watch?v= WZGpWI2RCNw..Download FEMA’s Mobile AppTo Apply to SBA:Apply online and receive additional disaster assistance information at sba.gov/disasterCall the SBA’s Customer Service Center at (800) 659-2955 from 8:00 a.m. – 8:00 p.m. ET Monday through Friday or send an email to disastercustomerservice@sba.gov for more information. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.On October 15, 2024, it was announced that funds for the SBA Disaster Loan Program have been fully expended. While no new SBA Disaster loans can be issued until Congress appropriates additional funding, SBA remains committed to supporting disaster survivors. Applications will continue to be accepted and processed to ensure individuals and businesses are prepared to receive assistance once funding becomes available.
adrien.urbani
Wed, 10/23/2024 – 13:45

MIL OSI USA News –

January 25, 2025
MIL-OSI Security: Member of Multi-State Gas Pump Skimming Device and Fuel Theft Ring Pleads Guilty to Aggravated Identity Theft and Fraud Charges

Source: Federal Bureau of Investigation (FBI) State Crime News

Jacksonville, Florida – United States Attorney Roger B. Handberg announces that Deonelky Tabares Cid (36, Tampa) has pleaded guilty to conspiracy, four counts of wire fraud, six counts of access device fraud, and one count of aggravated identity theft. Cid faces a minimum penalty of 2 years in federal prison on the count of aggravated identity theft, up to 20 years in federal prison on each count of wire fraud, up to 10 years in federal prison on each count of access device fraud, up to 5 years in federal prison on the conspiracy count, and payment of restitution to the victims he and his co-defendants defrauded. No sentencing date has been set.

According to court documents, Cid and his co-conspirators worked together to install skimmers on gas pumps to include gas stations in Alabama, Louisiana, and Northern Florida, including the Florida Panhandle. The conspirators used the skimmers to illegally obtain credit and debit card account numbers involved with the purchase of fuel by customers at the gas pump. Using the account numbers stolen by the skimmers, they subsequently made counterfeit credit and debit cards and then, used them to purchase large amount of diesel fuel.

During the conspiracy, Cid and others drove vehicles that contained a fuel bladder system. This system allowed the conspirators to fake pumping gas into the vehicle’s gas tank when in fact the diesel fuel was being pumped into the fuel bladder system. Analysis by law enforcement of fuel purchases, vehicle tracker data, gas station video surveillance, and real time surveillance of the conspirators determined that Cid and other conspirators drove to multiple case stations throughout Northern Florida. After obtaining the gas, the conspirators offloaded the stolen fuel into 9,500-gallon tanker trucks at a fuel yard. The stolen fuel was then sold to a gas station associated with one of the co-conspirators.

The co-defendants, Luis Edel Trujillo Pena (29, Miami), Deyvis Hernandez (37, Miami), Luis Ernesto Vigil Ochoa (32, Miami), and Isvaldo Guerra Perdomo (38, Jacksonville) are set for trial in January 2025.

This case was investigated by the Federal Bureau of Investigation, the Florida Department of Agriculture and Consumer Services, the Florida Highway Patrol, the Jacksonville Sheriff’s Office, the U.S. General Services Administration – Office of Inspector General, and the U.S. Secret Service – Jacksonville Field Office. It is being prosecuted by Assistant United States Attorney Kevin C. Frein.

MIL Security OSI –

January 25, 2025
MIL-OSI USA: Disaster Recovery Center to Close in St. James Parish

Source: US Federal Emergency Management Agency

Headline: Disaster Recovery Center to Close in St. James Parish

Disaster Recovery Center to Close in St. James Parish

BATON ROUGE, La. –The Disaster Recovery Center (DRC) serving Louisiana survivors of Hurricane Francine in Convent will close 5 p.m., Thursday, Oct. 24.The center (St. James Parish) is located at Convent Community Center, 5775 Hwy 44, Convent, LA 70723.Additional locations in Ascension, Assumption, Lafourche, Jefferson, St. John the Baptist, St. Mary and Terrebonne parishes are open. To find the DRC nearest to you, visit DRC Locator (fema.gov).The centers operate from 8 a.m. to 5 p.m., Monday through Saturday. Residents in all nine parishes can visit any DRC to meet with representatives of FEMA, the U.S. Small Business Administration, along with other community partners. No appointment is needed to visit the center. The centers are accessible to people with disabilities or access and functional needs and are equipped with assistive technology. If you need a reasonable accommodation or sign language interpreter, please call 833-285-7448 (press 2 for Spanish).You do not have to visit a center to apply for FEMA disaster assistance. The quickest way to apply is by going online at disasterassistance.gov/.Additional options when applying include:Download the FEMA App for mobile devices. Call the FEMA helpline at 800-621-3362 between 6 a.m. and 11 p.m. Help is available in most languages. If you use a relay service, such as video relay (VRS), captioned telephone or other service, give FEMA your number for that service.To view an accessible video about how to apply visit: Three Ways to Register for FEMA Disaster Assistance – YouTube.For the latest information visit fema.gov/disaster/4817. Follow FEMA Region 6 social media at X.com/FEMARegion6 or on Facebook at facebook.com/femaregion6.
alexa.brown
Wed, 10/23/2024 – 14:40

MIL OSI USA News –

January 25, 2025
MIL-OSI USA: Commerce Awards Nearly $3 Million to Tackle Workforce and Childcare Challenges

Source: US State of North Dakota

The North Dakota Department of Commerce announced today that 10organizations were recently approved for $2,942,890 through the Regional Workforce Impact Program (RWIP) in round 3. The RWIP provides grants to regional workforce entities in North Dakota to design and implement innovative plans to address their region’s most demanding workforce challenges.

“We’re proud to support these innovative projects that are addressing core issues impacting our workforce today,” said Katie Ralston Howe, Director of Workforce at Commerce. “By focusing on solutions that enhance childcare availability and promote workforce recruitment, we’re empowering communities to overcome these challenges and build a more resilient and thriving future for North Dakota.”

The RWIP recipients include:

• Learning Adventures Childcare was funded $147,000.00 to purchase the Stony Creek location and expand childcare capacity by 50 slots.

• Watford City EDC was funded $50,745.00 to expand the FIND YOUR FUTURE marketing plan, focusing on careers and value propositions in the Watford City region.

• Heart of America Medical Center was funded $250,000.00 to expand and renovate the Kids Next Door Daycare Center, adding 30 additional childcare slots.

• Ragamuffins Ranch was funded $500,000.00 to build a new childcare center, creating the potential for 90 additional childcare slots.

• Devils Lake Area Chamber was funded $250,000.00 for a retention project to address workforce issues by retaining students through various programs, including job fairs and business videos.

• Buffalo Daycare Inc was funded $221,274.00 to build a new daycare facility and add 38 additional childcare slots, supporting rural community recruitment.

• Charge on Together was funded $180,330.00 to renovate a building and increase childcare availability by 84 children.

• S&A Erickson LLC was funded $464,727.50 to build a new childcare center, expanding capacity by 15 slots.

• University of Mary was funded $464,727.50 to renovate the University of Mary Butler Center, creating 72 additional childcare slots.

• Richardton Development Company was funded $414,086.00 to create a turnkey building for affordable, high-quality childcare, adding 38 additional childcare slots.

Round 3 of the RWIP is currently open until 5:00 PM CST on October 29, 2024 and eligible applicants can visit ndgov/RWIP to apply.

MIL OSI USA News –

January 25, 2025
MIL-OSI United Kingdom: Westminster launches latest round of Community Priorities Programme funding | Westminster City Council

Source: City of Westminster

Provider Name

Amount awarded

Project Name

Project Description

Individual Provider

£10,000

Westminster Throws

Judo project offering structured activities to promote physical fitness, mental well-being, and community development among children in Westminster.

Happy Lizzy

£32,000

Happy Hub Holiday Clubs & Wild Kittens Wild Cats

Holiday clubs every school holiday. During the Summer the club is for children aged 7 and over. Play, explore, plant gardens, build LEGO, learn chess and hold community events.

WECH

£28,960 (Health and Well-being project)

£28,960 (Foodbank)

£13,816 (Welfare Benefits Service)

The Maida Hill Foodbank, Maida Hill Health & Well- Being Project, Harrow Road Welfare Benefits Service

Sustain the weekly Foodbank from Nov 24 for a year, to continue providing food to 50 families per week for 46 weeks, benefiting at least 300 families over the year. approx. Also engaging 15 residents as volunteers and support staff.

sustain delivery of the health and well-being activities.

Next Generation CIC

£31,040

Next Gen Intense Mentoring/ Business mentoring

We aim to work with 50 young people (ages 11-25) and their support networks, focusing on those at risk or involved in SYV. Our goal is to encourage them to pursue their dreams and career aspirations while steering them away from antisocial behaviour. We take a holistic mentoring approach, emphasizing diverse career pathways, particularly entrepreneurship.

The Flourish Group

£30,000

Creativity Calling

Creativity Calling’ is the first project of its kind in London. At its core are the Flourish-Banks, that act like food banks only donating and distributing art and craft materials to those that need them. Circular and sustainable, Flourish-Bank ‘bins’ positioned throughout Westminster allow the community to donate unwanted creative resources to be redistributed.

The Pepper Pot Centre

£30,000

Harrow Road Elderly African and Caribbean Health & Wellbeing Project

Stimulate Creativity: encourage participants to express themselves through art and creative materials.

Westbourne Park Family Centre

£16412.80

£10,000

Parent Power & Westbourne Park Pantry

A 36-week programme to help young people to tackle issues on bullying, boundaries, stop & search, drugs and alcohol, peer pressure and gangs (Parent Power).

The pantry stocks a range of fresh, cupboard essentials and toiletries (fruit, vegetables, dairy, pasta, rice, cereals, toilet paper, soap etc.) The pantry provides a service for those impacted by the cost-of-living crises and may not qualify for a food bank, or who prefer to choose their food selection.

Paddington Arts

£24,000

Every Child Matters

Dance activities for age groups 6-10; 11-15; 16-22, Emotional support programme for age 8 – 18, Wellbeing programme for girls’ group, Health advice and signposting for children and families.

The Grove Think Tank

£38,000

Westbourne Holistic & Development Project

Boxing and basketball sessions for young people targeting 24-30 participants.

In Deep

£24923.86

In – Deep music therapy for children with send & Music Therapy &   Art therapy for People with SEND

free weekly group music therapy sessions in Edward Wilson Primary School, senior street, w2 for children with special needs.

Abundance Arts

£21,000

Community Unity – SEND Wellbeing, Music and Art project

Interactive drumming and percussion games and stories incorporating basic sign language, enhancing sensory engagement and communication skills, including multicultural music, sign language, performances and community events.

Fun4over 50’s

£41819.32

Zumba Gold Over 50’s & Fun Social Events

Zumba Gold: specialised version of Zumba fitness program designed for older adults or those with physical limitations including community events.

Urban wise

£27397.60

Discover and Share!

Project consists of some short arts, culture and heritage courses, discovery walks and visits to places of cultural interest to build connections between people.

Blind Aid

£25,365

Reducing isolation and improving wellbeing of blind and visually impaired adults in Westminster

Blind Aid’s flagship Sight Support Project provides free ongoing home-based support to isolated, blind and visually impaired residents of Westminster.

Adebo Stitch

£29999.40

Adebo Stitch

Weekly sewing, knitting and crochet sessions for 15-20 participants per week.

Dutch Pot

£20,736

Dutch Pot Lunch & Social Club phase 2

professional wellbeing activities – chair & gentle exercises, special events for birthdays & other special days, signposting & visits from other services in Westminster and a minibus pick up door to door for the most vulnerable operates one day a week. Hand crafts, music, bingo with prizes is the highlight of the day, seaside visits and other places of interest. Cultural dancers & musical entertainers are invited to perform.

London Disability Network

£35,844

LDN London Community Hub

We run group activities and workshops for people with learning disabilities.

Kulan Somali Organisation

£29,985

SAAXIB

Weekly cultural activities/workshops such as cultural dancing, poetry, singing, cookery activities, telephone befriending service, physical activities and Nutrional meals.

Avenues

£27,750

Friday Night Seniors – The Avenues Youth Project

Youth club providing a range of activities designed to enhance health and wellbeing including sports activities – dance, basketball, MMA, table tennis and teq ball. We provide balanced nutritious meals and a space to decompress. Socially the connections are strong, and we frequently run workshops on mental health, sexual health and managing emotions.

Treasure Sports

£30,000

Making Westminster Healthier

The main activity of the project is to help uplift the most disadvantaged and vulnerable in Westminster through sports and exercise.

All Stars Youth Club

£35,552

Community Active

Kids boxing, female only boxing, Muay Thai and kickboxing.

Adventure Play Hub

£16,453.20

Saturday Play Days at Adventure Play Hub

Main activities of the project are to help uplift the most disadvantaged and vulnerable in Westminster through exercise classes as well as financial literacy and community engagement classes for children, young people and female only.

Unfold

£29,992.66

Peer Support Groups and Mentoring Programme for Women

Weekly peer support group for women in the local community in the North of the borough.

Women’s Trust

£24,000

Specialist Domestic Abuse Counselling Project

We offer an initial assessment session (IS) and then up to 18 weekly counselling sessions per client, which is longer than statutory provision (IAPT is usually 6 sessions).

The Floating Classroom

£12,618.60

Community Trips on the Floating Classroom (FC)

We are applying for funding to offer 20 trips on our electric canal barge for community groups and people accessing services provided by organizations.

St Andrew’s Club

£55,188

Active at the Andrew’s – Sports and Physical Activity Programme

St Andrew’s will support up to 150 children and adults to stay physically active, including football, basketball, yoga and other various physical activities.

Make it Happen

£7,500

Carers Mental Health

Bi-weekly group counselling sessions to provide emotional support and coping strategies. Those session are tailored for Parent Carers and offered by a credited counsellor who is a parent carer herself. The sessions will cover topics such as acceptance, managing feeling, anxiety and low mood. Other topics voted for by parents will be added.

Echo of Hope

£10,718

Strive Together

EOH will bring together leading experts, organization leaders, and housing specialists to offer invaluable advice and workshops.

Individual

£20,000

Carlys Angels Stay and Play

Activities for the stay and play sessions will include outdoor play and exploration, creative arts and crafts, music and movement, storytelling and literacy, physical activities, educational and social play, healthy eating, mindfulness and relaxation and parent engagement. These activities aim to provide a balanced mix of physical, creative, educational and social experiences, supporting children’s overall development and preparing them for future educational settings. I plan to deliver the sessions weekly, dependant on how much funding is awarded, but at least once a week session. Number of participants will be 15-30 to begin with to offer a more personal approach and avoid overwhelming families.

St Vincent’s Family Project

£20,000

SVFP Drop-In and Lunch

Our charity targets young vulnerable families on low incomes. The drop in will provide two main responses to help families affected by this, including the cost of living crises with lots of free activities for children

Individual

£8,611.26

Stay Safe Stay Creative

Intro of the project for 30 minutes, partnership delivery with STREETDOCTORS for 1 hour to empower individuals affected by violence to keep themselves and others safe and in charge of delivering FREE Knife Wound 1st Aid Training. This also include a 1-hour art therapy through artwork craft and outdo of project.

Basch Helps

£16,598

Angel Box

Emergency relief package which acts to alleviate conditions of distress, deprivation and disadvantage to parents, factors that contribute to social exclusion, self-harm & neglect

Individual

£14,890

Happy Feet Haven

We will offer people a programme of 6 reflexology sessions of 30-mins each. We will register 6 people for each 4-week block and deliver a total of 9 x 4 weeks sessions each year. This means we will be able to provide free reflexology sessions to 54 people each year. After the 30min reflexology session, people will have a 20-min foot spa session which will detoxify the feet and is a very relaxing experience.

Sport 4 Health

£17,200

Filipino Women Health and Support Project

Regular weekly indoor physical and social activities for improving physical health, and for mental wellbeing through creating strong friendship and support networks for Filipino Women. We will provide 2-hour activity sessions twice a week for 30 weeks per year (for 2 years) in both Pimlico South (at St. Gabriel’s Parish House) and Pimlico North (at Queen Mother Sports Centre). Activities (their choice) will include table-tennis, badminton, Pilates/stretching classes, etc and we aim to reach approx. 40 participants – mostly women.

Motivez

£15,000

Sustainable London

‘Engage & Inspire’, ‘Empower’ and ‘Unleash’ using a hackathon approach to build community, strengthen confidence and increase feelings of inclusivity. Through 15+ fun activities, intimate fireside chats, team-building activities, site visits, and mentoring led by relatable and inspirational young professionals (volunteers), the students will increase their awareness of how they can solve these issues through STEM.

Well Played

£17,340

Well Played Community Hubs

Invited by forthcoming ‘community hubs’ at Charing Cross/Victoria Libraries. Fulfilling established need (having completed community engagement). Increasing social barriers e.g. homelessness, isolation/mental health, increasing confidence/communication skills. Creative Writing with professional poets/writers, queer arts group and family story time.

Individual Provider

£4,000

Community Arts & Crafts Through Conversations

Through arts and craft, we allow our participants to express themselves through nonverbal and verbal cues. The activity is also key to bringing the community together. We use mainly preloved materials and encourage sustainability creating sustainable art. This process is scientifically proven to enhance mental health. Single mothers, young adults, ethnic minorities who are less unaware of sustainable living and the public.

WBWT

£25,000

Stitch, Shuttle, and Soar

The main activities of the “Stitch, Shuttle, and Soar” project include sewing classes, badminton sessions, 2 summer trips per year, along with two additional day outings for volunteers per year. The sewing classes will cater to 10-15 participants per session, with a total of 40 sessions held throughout the year. These classes provide a creative and cost-saving skill, enhancing mental well-being and community ties. Badminton sessions will host 10-12 participants per session, totalling 60 sessions over 2 years.

Chinese Community Council

£7,632

Outreach to the vulnerable

Social “hub” for older Chinese people who either live or work in Chinatown as it is a service-providing charity organisation.   This fact affords us with daily face-to-face interactions with the community and hours spent building organic relationships with the people we serve, consequently developing deep insight into the complex and diverse views of disadvantaged people.

Bear Fitness

£29,659.20

Bear Fitness Street Homelessness Programme

Bear Fitness provides twice weekly fitness classes (~1 hour in length) in The Passage for people experiencing homelessness.

Pro Touch SA CIC

£37,000

Inspiring Youths in Health & Wellbeing

Physical activities programme, mental health workshops, nutritional education sessions, community engagement events.

Hotel School

£30,000

Hotel School 10-week programme

Hotel School teaches hospitality skills to people experiencing homelessness and those who are vulnerable.

Volta Theatre

£15,014

Bright Lights

Provide a 1hr after-school class three times per week, including yoga, pilates bodywork, fitness, stretching, breathing exercises, voice technique, yoga, bodyweight exercises, object-work, visualisation relaxation technique, stress management and performance science theory.

Shop and Donate

£25,000

Shop And Donate – Strengthening and Building Resilient Communities

providing residents and families with essential food and goods which will help them with their health, diet and nutrition.

Individual provider

£10,000

Lunchtime Meals for Homeless

The main activities are: preparing/sourcing the lunchtime meals

Age UK, Westminster

£15,000

Maintenance Cognitive Stimulation Therapy (MCST) & Outreach Project

Over 24-months deliver 2 MCST sessions weekly for Westminster residents aged 60+ and family/carers. Each 2-hour session provides structured, and cognitively stimulating activities.

The Feathers Association

£40,000

Community Inclusion Project

Youth club, cultural events, residentials, vocational traing, including first aid, food sfety, & sports development.

Mala CHERGA Theatre

£59,732

Yoga and Dance for Adults and Children

Mixed yoga class for men & women in the evenings, yoga class for women only in the mornings.

         49

Photojournalism Hub CIC

£19,218

Seeing the Green

A nine-month project for 20 beneficiaries, each session will include learning documentary photography, followed by practical photography and group activities.

         50

Creative Futures Ltd (London)

£20,000

Community Families

Community Families consists of 8 completely free music sessions every week during term-time for families with children aged 0-4 years old in north Westminster. (Nurture groups)

      51

London Tigers

£47,398

Tigers Connect: Supporting and empowering young people

Sports to break down barriers of fear and distrust between communities including football, basketball, sports events, mentoring and volunteering activites.

52

North Paddington Youth Club

£40,000

NPYC Intergenerational Project

Youth club which provides health and fitness sessions and some therapeutic gardening sessions in our brand new 4 story building in Maida Vale.

53

Daily Veda

£22,260

Little Lotus Meditation and Breathwork Sessions

deliver weekly yoga sessions for 30 children which would consist of 3 x weekly sessions of 10 children per group.

54

Earth Living

£15,000

Wellbeing Food Drive

Our project supports over 70 residents who rely on our services, providing full-course meals, massage services for chronic pain relief, providing food parcels as we work with the local food banks to deliver the food parcels to the resident of Westminster.

55

Community for all

£30,000

C4A’s Community Domino Effect (DE)

DE is a bespoke culturally appropriate service that celebrates Caribbean culture whilst empowering individuals to make positive choices around health and lifestyle. DE provides a weekly social space that includes dominoes, music and food. It provides vital connections in the community for vulnerable isolated individuals as well as routine in a friendly environment.

56

Right at home

£6,000

Memory Café for above 65 & carers

The project aims to assist remote, localised communities by organising educational sessions on various subjects such as falls prevention, nutrition, home infection control, art, and chair exercises conducted by our team of senior physiotherapists.

57

West London Doulas

£26,843.5

Free Birth Preparation Classes

run 8 free, 8 week antenatal courses, for expectant parents. Each weekly session is themed and led by a specialist speaker on that topic. Participants have the opportunity to ask questions and discussion is encouraged. Each session includes yoga and relaxation to promote physical and mental health and wellbeing.

58

Zodiac Arts / Sports4all

£29487.30

Bee fit

Main activities of our project is to enhance health and well-being, community safety, and community development through chair based yoga, hydro swim sessions and windrush workshops.

          59

7 Spheres

£28,976

Church Street Community Cohesion Project

Yoga & Mindfulness and chess club

       60

Individual

£19,010

Dodge the Laziness

Dodgeball sessions for children and young people

        61

Individual

£15,450

Exploring Themes and Cultures through mosaics

Aims to reconnect children through 20 mosaic sessions, offering a fun environment to learn new skills/techniques. The final goal is for children to create a collaborative artwork for donation to hospitals/hospices/care homes.

       62

Financial Harmony

£14,402

Thrive & Tribe: Building Strong Futures Together

Fun workshops for young people to learn about financial concepts like budgeting and credit management.

      63

Harrow Road Soup Kitchen

£18,730

HRSK Mentoring

Training and mentoring for young people confidence-building, career exploration, and gaining real-world experience.

      64

Plant Environment

£20,250

What’s Growing On

Gardening and environmental awareness for the community

      65

   Cartoon Studios

£23,400

JKCS: Arty and Wellbeing Wednesdays

Health and wellbeing workshops and events through art for mum’s, young & vulnerable people.

     66

   Vital Connections

£12,600

“I Am – A Woman’s Voice”

67

ESP Foundation

£30,000

Girls Allowed

Sports and wellbeing activities for young girls.

68

Family Friends UK

£9,898

Family Friends Befriending

Befriending and mentoring service for families from disadvantaged communities.

69

Jojays

£14,000

Jojays Community Lunch Club

Help the local community improve their physical health and tackle social isolation through healthy meals.

70

MEWSO

£21,480

Women’s Circle II

Sewing classes and walk & talk sessions for women – predominantly from the middle eastern background.

71

PACE

£18,984

PACE Boccia at Beethoven

Bespoke physical activity programmes, including coaching in Boccia for all.

72

Progressay

£4,384

Girl Power – Football for Girls

Football sessions for girls, including information and advice, parent support group and tuition classes

73

Queen’s Park Bangladeshi Association

£20,222

Let’s Get Moving!

Sports & physical activities programmes to increase participation amongst the BME communities.

74

Queen’s Park Community Council

£20,000

Queen’s Park Youth Holiday Camps

Youth activities for youths during the school holidays.

75

GarmHub

£15,158

GarmHubs – Clothes Bank

Clothes Bank

MIL OSI United Kingdom –

January 25, 2025
MIL-OSI USA: Dingell Commends Department of Commerce Action on Foreign Connected Vehicle Technology, Requests Congressional Briefing and Prompt Final Rule

Source: United States House of Representatives – Congresswoman Debbie Dingell (12th District of Michigan)

Congresswoman Debbie Dingell (MI-06) today sent a letter to Department of Commerce Secretary Gina Raimondo thanking the Department for its efforts to address the risks posed by connected vehicle technology from China and Russia, and urging the Department to finalize its rule prohibiting the sale and import of these vehicles without delay and provide a briefing to the relevant Congressional caucuses on the rulemaking status and implementation strategy.

“I am writing to express my strong support for the Department of Commerce Bureau of Industry and Security’s (BIS) Notice of Proposed Rulemaking (NPRM) aimed at prohibiting the sale and import of connected vehicles incorporating specific hardware and software components with a sufficient nexus to the People’s Republic of China (PRC) or Russia,” Dingell writes. “As our vehicles become smarter and more connected, it is crucial that we address the national security risks posed by these components. This initiative directly addresses significant national security concerns stemming from the increasing prevalence of Chinese Original Equipment Manufacturers (OEMs) in the global automotive market.”

“Nearly 70% of vehicles on American roads are now connected — they rely on internet-enabled services and advanced software to manage functions such as navigation, vehicle diagnostics, and even autonomous driving features,” Dingell continues. “The data these connected vehicles and their technologies generate also include highly sensitive information. When this technology is manufactured or controlled by companies with close ties to the CCP, our data becomes vulnerable to foreign access and exploitation.”

“Given the gravity of these implications, I ask if the Department would provide a briefing to the relevant Congressional caucuses, such as the Auto Caucus and the Autonomous Vehicle (AV) Caucus on the NPRM, its implementation strategy, and the ongoing assessment of risks posed by Chinese and Russian-controlled components in connected vehicles. This briefing would allow Members of Congress to better understand the nuances of the rule and offer any potential assistance,” Dingell concludes. “I also strongly encourage the Department to finalize this rulemaking process without delay, given the urgency of the threat posed by these technologies. The potential threats require a swift response, and I am ready to assist in any way possible to streamline the process and ensure its effective enforcement. Should any legislative support be required to strengthen or clarify the rule’s provisions, I am committed to working collaboratively with both parties in both chambers of Congress to ensure its success.”

View the full text of the letter here.

Dingell wrote to the Department of Commerce in August urging the Administration to take action to address the privacy and security risks and trade implications posed by connected vehicle technology manufactured and controlled by foreign adversaries, including China.

MIL OSI USA News –

January 25, 2025
MIL-OSI: 45.5 million in financing to accelerate Laserax’s international growth

Source: GlobeNewswire (MIL-OSI)

QUEBEC CITY, Oct. 23, 2024 (GLOBE NEWSWIRE) — Laserax announces the raising of $45.5 million in its Series C financing led by the Business Development Bank of Canada, BDC, through its Industrial Innovation Venture Fund, with significant participation from existing investors Investissement Québec (IQ), Desjardins Capital. The package also includes a new credit facility from Desjardins Technologie & Innovation and support from the National Research Council of Canada (NRC-IRAP). This achievement testifies to the investors’ confidence in the Québec-based company’s ability to materialize its ambitious growth plan aimed at making it a world leader in the industrial laser technology sector.

“In an ecosystem where successful start-ups are too often bought by foreign multinationals, this round of financing sends a strong message to our industry that Laserax is fully committed to its ambition to conquer and dominate the market. Beyond this investment, which will substantially accelerate our organic growth, we intend to rapidly add other financial tools to make strategic acquisitions in order to strengthen our geographic positioning and diversify our technological portfolio”, says Xavier Godmaire, President of Laserax.

A PLAYER IN THE ENERGY TRANSITION

Through its many innovations, Laserax is actively participating in the transition to a greener, more efficient economy by developing laser technologies that have a major impact on the productivity and carbon footprint reduction of its manufacturing customers.

The company is particularly active in the transportation electrification and renewable energy production markets. Laserax has a strong intellectual property position, guaranteeing protection and differentiation of its technologies. The new investments will be used in particular to accelerate Laserax’s innovation velocity through the hiring of new talent and the acquisition of specialized equipment.

“Over the past 14 years, Laserax has built strong relationships with leaders in the transition to electric vehicles (EVs) and battery manufacturers. We have a team of brilliant professionals, and I’m very proud to be pushing the boundaries of laser with them to propel Laserax to new heights,” insists Alex Fraser, CTO and co-founder of Laserax.

QUOTES

“Laserax continues to assert its leadership in industrial laser solutions. With an experienced management team and exceptional technological know-how, the company is well-positioned to seize significant market share in a rapidly transforming sector. BDC is proud to lead this round of financing and contribute to the energy transition by supporting the development of more sustainable industrial innovations.”
Geneviève Bouthillier, Executive Vice President, BDC Capital

“With its innovative technologies, Laserax plays an important role in the manufacture of electric vehicles and batteries that are at the heart of Quebec’s energy transition. We’re proud to support this dynamic company in its initiatives to enhance its performance and make its ingenuity more widely known in industries committed to decarbonizing our economy.”
Christine Fréchette, Minister of the Economy, Innovation and Energy, Minister responsible for Regional Economic Development and Minister responsible for the Greater Montreal Area

“Laserax continues to grow in the Capitale-Nationale region with this major investment project. Already recognized for its expertise in technological innovation, the company is taking another step forward to strengthen its competitiveness and accelerate the production of its laser solutions, which are assets for the electrification of transportation and energy storage in all our regions.”
Jonathan Julien, Minister responsible for Infrastructure and Minister responsible for the National Capital Region

“As a financial partner of Laserax since 2013, Desjardins Capital is proud to once again support Laserax in its growth. From its modest beginnings as a startup with a few employees in the basement of Laval University, Laserax has become a young multinational. It is now a major player in the automotive industry. Laserax embodies our ability to support Quebec entrepreneurs at every stage of their growth.
Nathalie Bernard, Chief Operating Officer, Desjardins Capital

ABOUT LASERAX

Founded in 2010, Laserax is an innovative company specializing in industrial laser solutions. With over 115 employees, the company has recorded an average annual growth rate of 60% in recent years, and is forecasting revenues of $100 million in 2026-2027. Headquartered in Quebec City, the company also operates facilities in Michigan, Germany and Japan.

SOURCE

info@laserax.com

Laserax | LinkedIn | Facebook | YouTube

MEDIA CONTACT :

Anne-Marie-A. Savoie | annemarie@fernandezcom.ca | C 418 934-7448

The MIL Network –

January 25, 2025
MIL-OSI USA: Kaptur Announces New NASA Funding Opportunities for Northern Ohio Businesses And Local Companies to Support NASA Hypersonic Research and Innovation

Source: United States House of Representatives – Congresswoman Marcy Kaptur (OH-09)

Toledo, OH – Today, Congresswoman Marcy Kaptur (OH-09), a senior member of the House Appropriations Committee announced the availability of new major NASA funding opportunities that will enable local businesses in Northern Ohio to partner with the National Aeronautics and Space Administration (NASA). This funding opportunity is part of NASA’s latest hypersonic technology initiative, centered around Armstrong Flight Research Center (AFRC) in Sandusky and the Glenn Research Center (GRC) in Cleveland, which Congresswoman Kaptur has long championed. The new Request for Information (RFI) for Hypersonic Test Planning Services aims to foster collaboration between NASA and commercial providers to advance the future of reusable hypersonic flight.

“Ohio’s aerospace legacy is built on a tradition of innovation in flight — from the Wright Brothers, to astronauts John Glenn and Neil Armstrong. During my service, I have tirelessly advocated for their legacies and for NASA’s Glenn Facility in Cleveland and NASA’s Armstrong facility in Sandusky to advance their place in the nation’s pursuit to understand the cosmos around us. This new NASA funding opportunity presents a window for local businesses in our region of Northern Ohio to lead in advancing the future of flight,” said Congresswoman Marcy Kaptur (OH-09). “Northern Ohio is where the next breakthroughs in hypersonic technology will happen. It’s a privilege to support partnerships between these facilities and local industry as we help shape America’s future in aerospace, ensuring that innovation and progress start right here in our communities. The path to the cosmos truly runs right through America’s heartland, and I am proud to support these ongoing efforts to reach beyond the stars and to challenge what is possible.”

“Airbreathing hypersonic flight has the potential to transform the aerospace industry and aid the US to maintain its economic advantage in aerospace while significantly advancing its military capability. NASA intends to advance fundamental airbreathing hypersonic technologies to enable a revolutionary advancement in routine, reusable high-speed flight,” noted NASA.

This initiative builds upon Congresswoman Kaptur’s ongoing efforts to secure vital federal funding for local participation in NASA’s mission, including the recent award in February, 2024 of up to $282 Million to Fremont-based aerospace leader Sierra Lobo. This funding will support NASA’s spaceflight hardware development and testing at the Glenn Research Center. Sierra Lobo’s success demonstrates the role Northern Ohio companies play in advancing NASA’s work and in the region’s aerospace capabilities.

Businesses interested in learning more about NASA’s hypersonic testing services opportunity are encouraged to respond to the Request for Information by November 18, 2024. This program offers a platform for local companies to collaborate with NASA, contribute to the advancement of US aerospace technologies, and drive the future of commercial and defense applications.

For additional details on NASA’s hypersonic flight test services visit the NASA Armstrong Flight Research Center website. For more information about this funding opportunity you can click here. For any questions about the federal grant application process you can contact Congresswoman Kaptur’s local office.

# # #

MIL OSI USA News –

January 25, 2025
MIL-OSI: Strata’s Annual User Summit Highlights Challenges and Solutions Associated with Rising Costs and Ongoing Labor Pressures Across Healthcare
Source: GlobeNewswire (MIL-OSI)

CHICAGO, Oct. 23, 2024 (GLOBE NEWSWIRE) — Strata Decision Technology (Strata), a leader in the development of cloud-based enterprise performance management tools, unveiled the company’s new and expanded capabilities at LIFT24: The Strata Users Virtual Summit (LIFT24) on Oct. 22-23, 2024. As part of the two-day virtual event, over 2,800 healthcare leaders came together to share best practices, advancements, and advice for tackling the industry’s biggest challenges. Uniting healthcare providers from across the country, LIFT24 enabled collective knowledge sharing amongst over 600 healthcare organizations.

Led by Strata leaders and customer organizations, LIFT24 sessions explored healthcare industry trends and best practices in financial planning, analytics, and performance management. During the event, the company also showcased the latest product innovations and optimizations, such as incorporating AI and machine learning into their solutions and expanding their data and intelligence capabilities. Additionally, sessions highlighted the enhanced Real-Time Labor Performance solution and Payor Rate Transparency data set.

“Amid margin pressure, changing patient volumes, and increases in labor and non-labor expenses, today’s hospitals and healthcare systems face increasingly complex challenges,” said Strata Chief Executive Officer John Martino. “At Strata, we are committed to helping our customers accelerate decision-making and elevate their performance to overcome these challenges and drive their missions. We are excited for the opportunity to bring our network of healthcare finance leaders together for LIFT24 to exchange valuable insights and strategies to navigate an ever-changing healthcare environment.”

Expanded Data & Intelligence Capabilities
Strata continues to build upon its extensive data sets – spanning financial, operational, clinical, and claims data – to help customers benchmark their organizations’ performance relative to data from broader markets, competitors, and peer organizations. This year, Strata integrated data sets from its Comparative Analytics and StrataSphere® data sets to enable one of the industry’s most robust data and analytics platforms. Adding hundreds of hospitals to thousands of metrics for comparison, the company now provides customers with a data set that draws timely market and financial performance data from more than 1,600 hospitals nationwide. Available in both Axiom and StrataJazz enterprise performance management tools, this data spans hospital operating margins, revenues, expenses, and patient volumes, as well as physician practice performance, and other metrics.

In addition, Strata invested in its Reimbursement Intelligence offerings to improve the ways organizations can benchmark and optimize their reimbursements. With an expanded offering for all payor claims remittance data, and a new offering of Payor Rate Transparency data, Strata now gives customers the ability to see actual and negotiated reimbursement rates across their market at the payor, provider, and procedure levels.

Strata Innovation: Payor Rate Transparency and StrataJazz Real-Time Labor Performance
At LIFT24, the company highlighted two recent enhancements to support customers tackling key industry challenges: payor negotiations and rising labor expenses.
- Payor Rate Transparency: Armed with timely, accurate insights on current market rates, healthcare organizations can negotiate more competitive rates with payors, assess opportunities to enter new markets, and define competitive pricing strategies. Strata’s Payor Rate Transparency data set leverages advanced data science techniques to deliver a solution that empowers hospital leaders with normalized, consistent, and easy-to-analyze data.
- StrataJazz Real-Time Labor Performance: Today’s labor expenses in healthcare cannot be attributed to a single cause. Addressing the issue requires collaboration across functions and levels of management, as well as labor performance data integrated with other systems to enable accountability and the ability to act. StrataJazz Real-Time Labor Performance helps organizations reduce labor expenses with utilization improvements through insights, interventions, and outcomes, improving visibility and trust in data.
Agenda Highlights: Peer-led and CPE-Accredited Thought Leadership Sessions at LIFT24
This year, LIFT24 showcased healthcare providers and their use of Strata’s StrataJazz and Axiom for Healthcare enterprise performance management tools. The LIFT24 agenda included more than 10 CPE-accredited sessions on Strata’s latest product innovations, industry trends, and financial planning and analysis strategies such as minimizing patient leakage across provider networks, engaging operations in variance reporting, optimizing capital planning and management, service line planning, and more. Key sessions included:

Customer Achievement: 2024 LEAP Award Winners
As part of the two-day event, Strata also recognized two leading healthcare organizations for their outstanding performance in the areas of financial analytics, business intelligence, and decision support. Awarded each year, the LEAP (Lead, Excel, Achieve, and Progress) Award honors exceptional healthcare providers in the Strata network that are solving real-world problems using the company’s enterprise performance management tools and services, driving real, lasting change that benefits their organizations and the patients and communities they serve.

The winners of the 2024 Strata LEAP Award are:

Intermountain Health
As part of its nearly 20-year partnership with Strata, Intermountain Health has continued to find new ways to support and invest in the communities it serves. Using the full StrataJazz platform, Intermountain has leveraged continuous improvement, decision support, and financial planning tools. Adopting StrataJazz Capital Planning in 2006, Intermountain developed increased rigor around the capital planning process by involving leaders at each step. Later in 2019, the organization tackled the challenges of using an annual budget by adopting StrataJazz Financial Planning and the Dynamic Planning methodology. Over the last year, Intermountain has leveraged StrataJazz Continuous Improvement to identify opportunities for cost savings and bridge the gap between the organization’s cost stewardship team and clinical program leaders. To learn more about Intermountain Health’s journey to the LEAP Award, visit: https://www.stratadecision.com/leap-award/.

Based in Salt Lake City, Utah, Intermountain Health serves patients and communities as the largest nonprofit health system in the Intermountain West, including Utah, Nevada, Colorado, Montana, and Wyoming. Intermountain provides care at 34 hospitals and 400 clinics, while also providing telehealth services for over 3 million patients.

Monument Health
Like many organizations today, Monument Health continued to feel the impacts of labor shortages coupled with rising labor costs and other related challenges. With workforce optimizations top of mind, the organization leveraged Axiom Performance Reporting and Productivity and Comparative Analytics to develop a new, electronic position control process. Using the Axiom tool, Monument was able to build a cross-discipline dashboard to integrate employee and recruiting data with budget data, enabling more clarity and transparency. Incorporating external benchmarks from Strata’s Comparative Analytics tool, Monument was able to use data to underpin its position requisition process. To learn more about Monument Health’s journey to the LEAP Award, visit: https://www.stratadecision.com/leap-award/.

Headquartered in Rapid City, South Dakota, Monument Health is a community-based healthcare system with a mission to make a difference every day. This system offers care in 31 medical specialties and serves 12 communities across western South Dakota. With over 5,000 physicians and caregivers, Monument Health is composed of five hospitals and more than 40 medical clinics and specialty centers, and is a member of the Mayo Clinic Care Network.

About Strata Decision Technology 
Strata Decision Technology, LLC provides an innovative, cloud-based platform for software, and data and service solutions to help healthcare organizations acquire insights, accelerate decisions, and enhance performance in support of their missions. More than 2,300 organizations rely on Strata’s StrataJazz and Axiom solutions for market-leading service and enterprise performance management software, data, and intelligence solutions. To learn more about Strata and why the company has been named the market leader for Business Decision Support for more than 15 consecutive years, please go to www.stratadecision.com.

Strata Social Networks 
LinkedIn: Strata Decision Technology

Media contact: 
Sally Brown, Inkhouse
strata@inkhouse.com

The MIL Network –
January 25, 2025

Category: Commerce

Notes to editors

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Reports analysis

Bilateral trade

Business environment and women in trade

UK support programmes [the Maldives Development Partnership]

WTO and multilateral institutions

Conclusion

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How to submit data

Prostaglandins and prostaglandin analogues

Alpha and beta-arbutin

Vitamin A

Data protection

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Introduction

Why This Upgrade Matters

Benefits to the Financial Sector

Gratitude and Acknowledgments

Looking Ahead

Further information

Media

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The Deputy Prime Minister, Angela Rayner said:

MHCLG Lead Non-Executive Director, Mo Baines said:

For more information:

About Mo Baines

About the MHCLG Board

About the appointment process

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California as a global leader

Data protection  