Category: Economy

MIL-OSI Video: Biodiversity: No country is immune to devastation inflicted by climate change – UN Chief at COP16

Source: United Nations (Video News)

Remarks by António Guterres, Secretary-General of the United Nations, at the opening of the High-Level Segment of the sixteenth meeting of the Conference of the Parties to the Convention on Biological Diversity (COP 16) in Cali, Colombia.

“President Petro,

Thank you for hosting this important session, here in Cali – a microcosm of our planet’s rich biodiversity.

Excellencies, dear friends,

Nature is life.

And yet we are waging a war against it.

A war where there can be no winner.

Every year, we see temperatures climbing higher.

Every day, we lose more species.

Every minute, we dump a garbage truck of plastic waste into our oceans, rivers and lakes.

Make no mistake.

This is what an existential crisis looks like.

No country, rich or poor, is immune to the devastation inflicted by climate change, biodiversity loss, land degradation and pollution.

These environmental crises are intertwined. They know no borders.

And they are devastating ecosystems and livelihoods, threatening human health and undermining sustainable development.

The drivers of this destruction are embedded in outdated economic models, fueling unsustainable production and consumption patterns.

They are multiplied by inequalities – in wealth and power.

And with each passing day, we are edging closer to tipping points that could fuel further hunger, displacement, and armed conflicts.

We have already altered 75% of the Earth’s land surface and 66% of its ocean environments.

Dear friends,

Biodiversity is humanity’s ally.

We must move from plundering it to preserving it.

As I have said time and again, making peace with nature is the defining task of the 21st century.

That is the spirit of today’s Declaration of the World Coalition for Peace with Nature:

A call for action to enhance national and international efforts towards a balanced and harmonious relationship with nature – protecting nature and conserving, restoring and sustainably using and sharing our global biodiversity.

A call to recognize the vital knowledge, innovations and practices of Indigenous people, people of African descent, farmers and local communities.

A call for life.

Excellencies,

Last month, UN Member States adopted the Pact for the Future.

The Pact recognizes the need to accelerate efforts to restore, protect, conserve and sustainably use the environment.

It emphasizes the importance of halting and reversing deforestation and forest degradation by 2030, and other terrestrial and marine ecosystems that act as sinks and reservoirs of greenhouse gases.

This means conserving biodiversity, while ensuring social and environmental safeguards – in line with the Paris Climate Agreement and the Kunming-Montreal Global Biodiversity Framework.

When the Framework was adopted two years ago in Montreal, the world made bold commitments to living in harmony with nature by mid-century.

Its goals and targets require robust monitoring, reporting, and review arrangements to track progress, as well as a resource mobilisation package to increase finance for biodiversity from all sources – mobilizing at least USD 200 billion per year by 2030.

But we must now turn these promises into action in four vital ways.

First – at the national level, all countries must finally present clear, ambitious and detailed plans to align with the Framework’s targets.

These national plans should be developed in coordination with Nationally Determined Contributions and National Adaptation Plans – with positive outcomes in the Sustainable Development Goals.

We must shift to nature-positive business models and production: renewable energies and sustainable supply chains… zero-waste policies and circular economies… regenerative agriculture and sustainable farming practices…

These must become the default for governments and businesses alike.

Second – we must agree on a strengthened monitoring and transparency framework.

This is not only vital for accountability but also about enabling course corrections and driving ambition.

Third – finance promises must be kept and support to developing countries accelerated.

We cannot afford to leave Cali without new pledges to adequately capitalize the Global Biodiversity Framework Fund, and without commitments to mobilize other sources of public and private finance to deliver the Framework – in full.

And we must bring the private sector on board.

Those profiting from nature cannot treat it like a free, infinite resource.

They must step up and contribute to its protection and restoration.

By operationalizing the mechanism on the sharing of benefits from the use of Digital Sequence Information on Genetic Resources, we will give them one clear avenue to do so, bringing more equity and inclusivity…”

Full remarks: https://www.un.org/sg/en/content/sg/statement/2024-10-29/secretary-generals-remarks-the-high-level-segment-of-cop16-biodiversity-trilingual-delivered-scroll-down-for-all-english

https://www.youtube.com/watch?v=wiM2kUkGPOU

MIL OSI Video –

January 25, 2025
MIL-OSI Asia-Pac: Minister of State Sh. Kirti Vardhan Singh Highlights India’s Commitment to Global Biodiversity Conservation at COP16 in Colombia

Source: Government of India

Minister of State Sh. Kirti Vardhan Singh Highlights India’s Commitment to Global Biodiversity Conservation at COP16 in Colombia

India Advocates for Global Conservation with ‘Plant4Mother’ Campaign at COP16 in Colombia

Posted On: 30 OCT 2024 4:30PM by PIB Delhi

Union Minister of State for Environment, Forests and Climate Change, Shri Kirti Vardhan Singh delivered the national statement regarding the conservation of biological resources in the High Level Segment of the ongoing 16^th meeting of the Conference of Parties (CoP) to the Convention on Biological Diversity, in Cali, Colombia on 29^th October 2024.

Had the privilege of delivering India’s national statement during the plenary session of UNCBD COP16 at Cali, Colombia. India has been at the forefront of taking initiatives, executing programs and fostering collaborations to conserve our rich biodiversity. Mission LiFE,… pic.twitter.com/YNV2Me69nw

— Kirti Vardhan Singh (@KVSinghMPGonda) October 30, 2024

MoS Shri Singh congratulated Ms. Susana Muhamad, Minister of Environment of Colombia on taking over the COP Presidency from the longest serving COP President Mr. Huang Runqiu of China.

Speaking on the occasion, Shri Singh said that India has a rich culture and tradition of worshipping Mother Earth and of living in harmony with Nature. India is one of the world’s 17 Mega-diverse rich Nations housing four out of the 36 globally recognised biodiversity Hotspots. He said, “To honour Mother Earth as we honour our own Mothers, our Prime Minister this year launched a nation-wide tree plantation campaign ‘Ek Ped Maa Ke Naam’ or ‘Plant4Mother’ on the occasion of World Environment Day in our collective efforts to restore and protect our biodiversity.”

The Minister highlighted that ‘Peace with Nature’ has been part of India’s rich cultural heritage since ancient the Vedic age. The theme resonates with India’s mission of ‘Lifestyle for the Environment (LiFE)” an India led Global mass movement for adopting environment friendly lifestyles.

India has taken significant step in global wildlife conservation by establishing the International Big Cat Alliance (IBCA) aimed at protecting the world’s seven major big cat species, as their presence is indicative of a healthy ecosystems and rich biodiversity, Shri Singh informed.

The Minister said that India’s efforts in rejuvenating our sacred river Ganga through ‘Namami Gange’ Mission was duly recognized by United Nations as one of the top 10 World Restoration Flagships to revive the riverine ecosystem. He informed that India’s Ramsar sites has risen from 26 to 85 since 2014 and this number is shortly going to reach 100.

Shri Singh reiterated that India adopted a ‘Whole of Government’ and ‘Whole of Society’ approach while updating the National Biodiversity Strategy and Action Plan (NBSAP) with its targets aligned with the Kunming-Montreal Global Biodiversity Framework (KMGBF). He said that the Ministry would be releasing updated NBSAP on 30.10.2024 at Cali.

The Minister said that it is necessary to provide means of implementation including financial resources, as laid down in target 19 of the KMGBF as well as from DSI, for implementation of the NBSAP. Lot of ground needs to be covered in providing easily accessible means of implementation i.e. financial resources, technology and capacity building needs with the requisite Speed, Scope and Scale.

Shri Singh concluded by re-iterating India’s commitment towards protecting its own as well as global biodiversity for the present and future generations, in the true spirit of ‘Vasudhaiv Kutubakam – One Earth, One Family, One Future’.

*****

VM/GS

(Release ID: 2069563) Visitor Counter : 33

MIL OSI Asia Pacific News –

January 25, 2025
MIL-OSI Asia-Pac: National Internet Exchange of India unveils new office at World Trade Centre, New Delhi along with its new initiatives

Source: Government of India (2)

National Internet Exchange of India unveils new office at World Trade Centre, New Delhi along with its new initiatives

MeitY Secretary unveils NIXI’s latest digital initiatives for a Secure and Inclusive Internet; Festive Offer for .in Accredited Registrars, to drive adoption of .in domain

NIXI and TCIL sign Strategic Agreement to bolster user trust with SSL Certificates

Posted On: 30 OCT 2024 1:51PM by PIB Delhi

The National Internet Exchange of India (NIXI) today celebrated the grand inauguration of its new office at the World Trade Centre, Nauroji Nagar, New Delhi. The event was presided over by Sh. S Krishnan, Secretary, Ministry of Electronics and Information Technology (MeitY) and Chairman, NIXI along with Shri Bhuvnesh Kumar, Additional Secretary, MeitY, Shri Sushil Pal, Joint Secretary, MeitY, and Shri Rajesh Singh, Joint Secretary and Financial Adviser, MeitY. This event marked a significant step in NIXI’s ongoing efforts to strengthen India’s internet infrastructure and foster digital growth.

As part of the event, Secretary MeitY also unveiled a few of the initiatives undertaken by NIXI, such as a Festive Offer for .in Accredited Registrars, aimed at accelerating the adoption of the .in domain across the users. He mentioned that NIXI has a very important role to play in the field of Internet, not just at national level but also globally. NIXI is ready to make a difference in this field as its role is being redefined right now, he added.

NIXI’s CSR Impact Report for FY 23-24

The ceremony also featured the launch of NIXI’s CSR Impact Report for FY 23-24, highlighting the organization’s achievements in the realm of corporate social responsibility. The report showcased NIXI’s work in promoting digital literacy, expanding internet accessibility, and contributing to community development. It also outlined future goals, reaffirming NIXI’s commitment to supporting India’s digital economy and social empowerment initiatives.

Strategic Agreement with TCIL

The event was also marked by the signing of a strategic agreement with M/s Telecommunications Consultants India Ltd (TCIL) for the implementation of NIXI SSL Certificate Authority (SSL CA). This partnership will enhance internet security across India by providing trusted SSL certification services, ensuring safe online transactions and bolstering user trust.

On this occasion, Dr. Devesh Tyagi, CEO NIXI said that as of now we have booked 41 lakh domains and our next target is to reach 50 lakh which will be a very significant target. We have 77 exchange points across the country which have proven helpful in keeping our data within the country. We are also planning to bring a new scheme to increase these exchange points.

About NIXI

Set up on 19th June 2003, the National Internet Exchange of India (NIXI) is a not-for-profit (Section 8) company under the aegis of the Ministry of Electronics and Information Technology, Government of India. It is tasked with increasing internet penetration and adoption in India by facilitating various infrastructure aspects to enable the internet ecosystem to be managed and used by the masses.

The four services under NIXI include: Internet Exchange Points (IXPs) for building Internet Exchange Points, .IN Registry for building the .in domain digital identity, IRINN for IPv4 and IPv6 addresses adoption, and Data Centre services under NIXI-CSC for data storage services.

*****

Dharmendra Tewari/Kshitij Singha

(Release ID: 2069493) Visitor Counter : 65

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI: YieldMax™ ETFs Announces Distributions on YBIT (65.28%), TSLY (60.58%), TSMY (54.47%), YMAX (66.23%), YMAG (41.16%) and Others

Source: GlobeNewswire (MIL-OSI)

CHICAGO and MILWAUKEE and NEW YORK, Oct. 30, 2024 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ ETFs listed in the table below.

ETF Ticker¹	ETF Name	Reference Asset	Distribution per Share	Distribution Frequency	Distribution Rate^2,4,5	30-Day SEC Yield³	Ex-Date & Record Date	Payment Date
YMAX	YieldMax™ Universe Fund of Option Income ETFs	Multiple	$0.2247	*Weekly*	66.23%	50.85%	10/31/24	11/1/2024
YMAG	YieldMax™ Magnificent 7 Fund of Option Income ETFs	Multiple	$0.1528	*Weekly*	41.16%	62.93%	10/31/24	11/1/2024
TSLY	YieldMax™ TSLA Option Income Strategy ETF	TSLA	$0.5986	Every 4 Weeks	60.58%	3.09%	10/31/24	11/1/2024
CRSH	YieldMax™ Short TSLA Option Income Strategy ETF	TSLA	$0.4489	Every 4 Weeks	51.38%	3.61%	10/31/24	11/1/2024
GOOY	YieldMax™ GOOGL Option Income Strategy ETF	GOOGL	$0.3771	Every 4 Weeks	31.69%	3.28%	10/31/24	11/1/2024
YBIT	YieldMax™ Bitcoin Option Income Strategy ETF	Bitcoin ETP	$0.6717	Every 4 Weeks	65.28%	4.07%	10/31/24	11/1/2024
OARK	YieldMax™ Innovation Option Income Strategy ETF	ARKK	$0.2818	Every 4 Weeks	35.18%	3.37%	10/31/24	11/1/2024
XOMO	YieldMax™ XOM Option Income Strategy ETF	XOM	$0.3373	Every 4 Weeks	26.26%	3.32%	10/31/24	11/1/2024
SNOY	YieldMax™ SNOW Option Income Strategy ETF	SNOW	$0.5589	Every 4 Weeks	43.15%	3.44%	10/31/24	11/1/2024
TSMY	YieldMax™ TSM Option Income Strategy ETF	TSM	$0.8897	Every 4 Weeks	54.47%	3.48%	10/31/24	11/1/2024
Scheduled for next week: YMAX YMAG NVDY DIPS FBY GDXY BABO JPMO MRNY PLTY

The performance data quoted above represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling (833) 378-0717.

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

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

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

¹ All YieldMax™ ETFs shown in the table above (except YMAX and YMAG) have a gross expense ratio of 0.99%. YMAX and YMAG have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs.

² The Distribution Rate shown is as of close on October 29, 2024. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.

³ The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended September 30, 2024, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.

⁴ Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.

⁵ YieldMax™ ETF distributions may contain return of capital, but an estimate cannot be provided at this time. Please refer to the 19a-1 notices here for additional details regarding the distributions’ composition, once available.

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

Standardized Performance

For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For PLTY, click here.

Prospectuses

Click here.

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information are in the prospectus. Please read the prospectuses carefully before you invest.

There is no guarantee that any Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment in any such Fund.

Tidal Financial Group is the adviser for all YieldMax™ ETFs and ZEGA Financial is their sub-adviser.

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

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

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

Investing involves risk. Principal loss is possible.

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

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

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

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

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

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

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

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

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

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

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

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

Risk Disclosures (applicable only to BABO and TSMY)

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

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

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

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

Risk Disclosures (applicable only to GDXY)

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

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

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

Risk Disclosures (applicable only to YBIT)

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

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

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

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

Risk Disclosures (applicable only to the Short ETFs)

Investing involves risk. Principal loss is possible.

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

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

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

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

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

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

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

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

Risk Disclosures (applicable only to YQQQ)

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

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

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

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

The MIL Network –

January 25, 2025

MIL-OSI: ACM Research Announces Preliminary Unaudited Revenue and Shipments for the Third Quarter 2024

Source: GlobeNewswire (MIL-OSI)

FREMONT, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) — ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging applications, today announces expectations for preliminary unaudited revenue and total shipments for the third quarter of 2024. Today’s release coincides with the as-scheduled release of unaudited financial results by ACM Research (Shanghai), Inc., ACM’s principal operating subsidiary (“ACM Shanghai”), to the Shanghai Stock Exchange website [link to China Disclosure].

ACM will discuss its full financial results for the third quarter 2024 and its revenue outlook for the remainder of the year on its earnings call on Thursday, November 7, 2024, at 8 a.m. Eastern Time (9 p.m. China Time).

ACM announces the following:

preliminary unaudited revenue for the third quarter of 2024 is expected to be in the range of $200 million to $203 million, which would represent year-to-year growth of 19% to 20%.
preliminary total shipments are expected to be in the range of $245 million to $255 million, which would represent year-to-year growth of 15% to 19%.

Actual unaudited third quarter 2024 results are subject to the completion of ACM’s quarter end closing procedures and review by ACM’s independent registered public accounting firm.

ACM currently owns an 82.0% equity interest in ACM Shanghai, and a substantial majority of ACM’s consolidated revenue and net income is contributed by ACM Shanghai. The stand-alone financial results of ACM Shanghai are reported in RMB as prepared in accordance with Chinese generally accepted accounting principles, and those results will differ, potentially materially, from ACM’s consolidated revenue and net profit for the period, which will reflect additional financial and operational items and will be prepared in U.S. dollars in accordance with U.S. generally accepted accounting principles.

About ACM Research, Inc.

ACM develops, manufactures and sells semiconductor process equipment for single-wafer or batch wet cleaning, electroplating, stress-free polishing, vertical furnace processes, Track and PECVD, which are critical to advanced semiconductor device manufacturing and wafer-level packaging. ACM is committed to delivering customized, high performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield. For more information, visit www.acmrcsh.com.

Forward-Looking Statements

Certain statements contained in this press release are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “plans,” “expects,” “believes,” “anticipates,” “designed,” and similar words are intended to identify forward-looking statements. Forward-looking statements are based on ACM management’s current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A description of certain of these risks, uncertainties and other matters can be found in filings ACM makes with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by ACM. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ACM undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events.

© ACM Research, Inc. The ACM Research logo is a trademark of ACM Research, Inc. For convenience, this trademark appears in this press release without a ™ symbol, but that practice does not mean that ACM will not assert, to the fullest extent under applicable law, its rights to such trademark.

For investor and media inquiries, please contact:

In the United States:	The Blueshirt Group
	Steven C. Pelayo, CFA
	+1 (360) 808-5154
	steven@blueshirtgroup.co

In China:	The Blueshirt Group Asia
	Gary Dvorchak, CFA
	+86 (138) 1079-1480
	gary@blueshirtgroup.co

The MIL Network –

January 25, 2025

MIL-OSI: Dayforce Reports Third Quarter 2024 Results¹

Source: GlobeNewswire (MIL-OSI)

Dayforce® recurring revenue of $333.2 million, up 19%

Total revenue of $440.0 million, up 17%

Year-to-date net cash provided by operating activities of $200.1 million, up 54%

MINNEAPOLIS and TORONTO, Oct. 30, 2024 (GLOBE NEWSWIRE) — Dayforce, Inc. (“Dayforce” or the “Company”) (NYSE:DAY) (TSX:DAY), a global leader in human capital management (“HCM”) technology, today announced its financial results for the third quarter ended September 30, 2024.

“Our dedicated team achieved excellent results in the third quarter, positioning us to finish 2024 with strength,” said David Ossip, Chair and CEO of Dayforce. “Dayforce recurring revenue grew 19% year-over-year, and year-to-date cash flows from operating activities were up 54%, underscoring our ability to both grow and generate profits at scale. We continue to see organizations across the globe realize greater value as they simplify their people operations with the all-in-one Dayforce platform.”

“In the third quarter, we repurchased approximately $30 million worth of shares under our $500 million share repurchase program that we launched last quarter highlighting our progress in enhancing our overall profit profile and the flexibility of our cash-generative business model,” said Jeremy Johnson, CFO of Dayforce. “Looking forward, we are excited to meet many of our investors in-person at our inaugural Investor Day alongside our Dayforce Discover conference in Las Vegas where we will outline our strategy for future growth.”

Financial Highlights for the Third Quarter 2024¹

Total revenue was $440.0 million, an increase of 16.6%, or 16.7% on a constant currency basis.
Dayforce recurring revenue was $333.2 million, an increase of 19.2%, or 19.3% on a constant currency basis. Excluding float revenue, Dayforce recurring revenue was $292.0 million, an increase of 18.9%, or 19.0% on a constant currency basis.
Cloud recurring gross margin was 79.0%, compared to 77.0%. Adjusted cloud recurring gross margin was 79.9%, compared to 78.3%.
Operating profit was $20.8 million compared to $26.5 million. Adjusted operating profit was $103.2 million compared to $89.4 million.
Net income was $2.0 million, compared to net loss of $3.8 million. Adjusted net income was $74.5 million, compared to $58.3 million.
Adjusted EBITDA was $126.1 million, compared to $107.2 million.
Diluted net income per share was $0.01, compared to diluted net loss per share of $0.02. Adjusted diluted net income per share was $0.47, compared to $0.37.
Net cash provided by operating activities for the nine months ended September 30, 2024 was $200.1 million, compared to $129.6 million for the nine months ended September 30, 2023. Free cash flow for the nine months ended September 30, 2024 was $117.3 million, compared to $41.3 million for the nine months ended September 30, 2023.

Supplemental Detail

6,730 customers were live on the Dayforce platform as of September 30, 2024, an increase of 73 customers since June 30, 2024 and an increase of 384 customers since September 30, 2023, or 6.1% year-over-year.²
Dayforce recurring revenue per customer was $159,496 for the trailing twelve months ended September 30, 2024, an increase of 14.9%.³
The average float balance for Dayforce’s customer funds during the quarter was $4.48 billion and the average yield on Dayforce’s float balance was 4.0%, an increase of 20 basis points year-over-year. Float revenue from invested customer funds was $45.6 million for the three months ended September 30, 2024.
The average U.S. dollar to Canadian dollar foreign exchange rate was $1.36 for the three months ended September 30, 2024, compared to $1.34 for the three months ended September 30, 2023. Dayforce presents percentage change in revenue on a constant currency basis in order to exclude the effect of foreign currency rate fluctuations, which it believes is useful to management and investors. Percentage change in revenue was calculated on a constant currency basis by applying the average foreign exchange rate in effect during the comparable prior period.

¹ The financial highlights are on a year-over-year basis, unless otherwise stated. All financial results are reported in United States (“U.S.”) dollars and in accordance with accounting principles generally accepted in the U.S. (“GAAP”), unless otherwise stated.
² Excluding Ascender, ADAM HCM, and eloomi.
³ Excluding float revenue, Ascender, ADAM HCM, and eloomi revenue, and on a constant currency basis. Please refer to the “Non-GAAP Financial Measures” section for discussion of percentage change in revenue on a constant currency basis.

Business Highlights

Dayforce was named a Leader in the 2024 Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises for the fifth consecutive year in October 2024. The Company also scored highest in both North American Compliance Suite 1,000-2,500 and North American Compliance Suite 2,500+ in the 2024 Critical Capabilities report for Cloud HCM Suites for Enterprises with 1000+ Employees.
The Company earned a 2024 Top HR Products of the Year Award from Human Resources Executive Magazine for Dayforce Career Explorer and placed on the Constellation ShortList™ within four categories: Workforce Management Suites, HCM Suites with a North American Focus, Global HCM Suites, and Payroll for North American SMBs.
Dayforce attained a five-star rating for the second year in a row on Newsweek’s list of America’s Greenest Companies 2025, recognized by TIME Magazine as one of the World’s Most Sustainable Companies 2024, named a Top 10 company for workers by JUST Capital, placed on the Most Loved Workplaces list for young professionals, and awarded a TrustRadius Tech Cares award for the company’s efforts in social responsibility and volunteerism.

Sales Highlights

A North American hospitality company that specializes in managing and developing luxury hotels and resorts selected the full Dayforce suite to support 22,000 employees across U.S., Mexico, and Canada.
A major multi-brand Australian retailer has selected Dayforce as its unified HCM solution to support their 12,000 employees across Australia and New Zealand.
A global manufacturing and distribution leader, operating in over 12 countries, selected the full Dayforce suite to enhance the experience of 8,500 employees across the United States and Canada.
A wholesale distributor of food service and janitorial supplies, with 7,200 employees in the U.S. and Canada chose Dayforce as its comprehensive human capital management solution, opting for the full Dayforce suite of products with Managed Benefits.
A world-leading manufacturer and retailer of footwear chose the full Dayforce suite to support its 5,300 employees globally.
A U.S.-based online gaming and sports entertainment company chose Dayforce Managed Payroll Services to support its 4,100 employees across the U.S., Canada, and the United Kingdom (“U.K.”).
A U.K.-based clothing retailer chose the full Dayforce Talent suite and Global Payroll to effectively manage its workforce of 3,800 employees across 12 countries.
A U.S. construction company selected the full Dayforce suite for consolidating and modernizing its systems across 48 states and 32 unique FEINs for its 3,500 employees.
A regional commuter railroad corporation in the U.S. has chosen Dayforce as its unified HCM solution, including the full Talent Suite, to effectively manage its workforce of 3,300 employees.
A global manufacturer and distributor of medical devices operating in 33 countries, chose Dayforce for Global Pay, Time, and Managed Benefits in the U.S. to support 2,300 employees.

New Customer Highlights

A British multinational hotel and restaurant company with 38,000 employees went live across the U.K. with Dayforce Managed Payroll, HR, Workforce Management, and Talent.
A prominent U.S. manufacturer recently went live with Dayforce HR, Payroll, Time, Wallet, Document Management for its 10,000 employees.
A U.K. fashion retailer with 400 stores and 10,000 employees has recently implemented Dayforce HR, Workforce Management, Payroll, and Dayforce Wallet.
A leading senior living organization recently deployed the full Dayforce suite, supporting 6,300 active employees across the U.S.
A well-established U.S. logistics company has gone live with the full Dayforce suite to support its 5,200 employees.
A well-established U.S.-based insurance company has gone live with the full Dayforce suite supporting its 4,800 employees across North America.
A North American technology company migrated to Dayforce Managed Payroll to support nearly 4,700 U.S. employees.
A global office furniture manufacturer has implemented Dayforce HR, Payroll, Time, Analytics, and Dayforce Wallet for almost 4,000 U.S. employees.
A U.S.-based energy services company with 1,200 employees has implemented Dayforce Payroll, Benefits, Time, Core HR, Onboarding, and Recruiting.
A nonprofit organization dedicated to the governance and promotion of golf in America recently undertook a full-suite implementation of Dayforce to support its 400 employees.

Product Roadmap Highlights

In the third quarter, Dayforce launched new product capabilities to help Dayforce customers realize quantifiable value through enriched workforce engagement, enhanced analytics, and improved employee financial wellness, and to update their compliance capabilities.

The new Dayforce Learning was announced, with enhancements that will better equip organizations with the advanced learning and development capabilities needed to grow, engage, and enrich their workforces.
Dayforce People Analytics enhancements include:
- Measures, a new KPI and performance management tool, that surfaces performance across 28+ metrics, allowing organizations to configure intelligent nudges that can surface changes requiring their attention
- Data Cards display Measures in the Advanced Experience Hub, embedding awareness of performance metrics across the organization
- Machine learning enhanced prediction gives organizations a view into future performance
Dayforce Wallet updates include a new Savings feature, which allows users to route some of their earnings into a saving plan, a new Cashless Tips feature, which allows employers to pay out pre-tax or net tips by automating their distribution at the end of a shift, and a new Dayforce Wallet widget that integrates on-demand pay into Dayforce Hub, allowing employees to view and request available pay directly. As of September 30, 2024, over 1,290 customers were live on Dayforce Wallet.
Dayforce Payroll enhancements include a reimagined payroll experience that offers real-time insight into pay variances, helping users detect anomalies by highlighting areas needing attention.
240+ compliance updates up to the end of the third quarter, will bolster the Company’s industry-leading position in compliance by addressing changes in regional taxes, workers’ compensation, garnishments, and multiple state and city rate changes.

Business Outlook

Based on information available as of October 30, 2024, Dayforce is issuing the following guidance for the fourth quarter and full year of 2024 as indicated below. Comparisons are on a year-over-year basis, unless stated otherwise.

Guided Metrics	Full Year 2024	Fourth Quarter 2024
Total revenue	$1,747 million to $1,752 million, an increase of 15% to 16% on a GAAP basis or 16% on a constant currency basis.	$452 million to $457 million, an increase of 13% to 14% on a GAAP basis or 13% to 15% on a constant currency basis.
Dayforce recurring revenue, excluding float	$1,163 million to $1,168 million, an increase of 21% on a GAAP and on a constant currency basis.	$311 million to $316 million, an increase of 21% to 23% on a GAAP and on a constant currency basis.
Float revenue	$192 million	$37 million
Adjusted EBITDA	$492 million to $507 million	$120 million to $135 million

Dayforce is also providing an initial outlook for full year 2025 as follows:

Total revenue growth, excluding float, between 14% and 15%, on a constant currency basis
Adjusted EBITDA margin above 31%
Free cash flow as a percentage of total revenue above 12%

Dayforce has not reconciled the Adjusted EBITDA ranges, Adjusted EBITDA margin, or free cash flow for the fourth quarter or full years of 2024 or 2025 to the directly comparable GAAP financial measures because applicable information for the future period, on which these reconciliations would be based, is not available without unreasonable efforts due to uncertainty regarding, and the potential variability of, depreciation and amortization, share-based compensation expense and related employer taxes, changes in foreign currency exchange rates, and other items.

Foreign Exchange

For the fourth quarter of 2024, Dayforce’s guidance assumes an average U.S. dollar to Canadian dollar foreign exchange rate of $1.38, which results in an average rate of $1.37 for the full year of 2024, compared to an average rate of $1.36 and $1.35 for the fourth quarter and full year of 2023, respectively.

Conference Call Details

Dayforce will host a live webcast and conference call to discuss the third quarter 2024 earnings at 8:00 a.m. Eastern Time on October 30, 2024. Those wishing to participate via the webcast should access the call through the Investor Relations section of the Dayforce website. Those wishing to participate via the telephone may dial in at 877-497-9071 (USA) or 201-689-8727 (International). The webcast replay will be available through the Investor Relations section of the Dayforce website.

About Dayforce

Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on improving work for thousands of customers and millions of employees around the world. Our single, global people platform for HR, Pay, Time, Talent, and Analytics equips Dayforce customers to unlock their full workforce potential and operate with confidence. To learn how Dayforce helps create quantifiable value for organizations of all sizes and industries, visit dayforce.com.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact or relating to present facts or current conditions included in this press release are forward-looking statements. Forward-looking statements give Dayforce’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance, and business. Users can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements in this press release include statements relating to the fourth quarter and full fiscal years of 2024 and 2025, as well as those relating to future growth initiatives. These statements may include words such as “anticipate,” “estimate,” “expect,” “assume”, “project,” “seek,” “plan,” “intend,” “believe,” “will,” “may,” “could,” “continue,” “likely,” “should,” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events, but not all forward-looking statements contain these identifying words. The forward-looking statements contained in this press release are based on assumptions that Dayforce has made in light of its industry experience and its perceptions of historical trends, current conditions, expected future developments and other factors that it believes are appropriate under the circumstances. As users consider this press release, it should be understood that these statements are not guarantees of performance or results. These assumptions and Dayforce’s future performance or results involve risks and uncertainties (many of which are beyond its control). In particular:

its inability to maintain its high Cloud solutions growth rate, manage its domestic and international growth effectively, or execute on its growth strategy;
the impact of disruptions to the movement of funds to initiate payroll-related transactions on behalf of customers;
its failure to manage its aging technical operations infrastructure;
system breaches, interruptions or failures, including cyber-security breaches, identity theft, or other disruptions that could compromise customer information or sensitive company information, including its ongoing consent order with the Federal Trade Commission regarding data protection;
its failure to comply with applicable privacy, data protection, information security, and financial services laws, regulations and standards;
its inability to successfully compete in the markets in which Dayforce operates and expand its current offerings into new markets or further penetrate existing markets due to competition;
its failure to properly update its solutions to enable its customers to comply with applicable laws;
its failure to provide new or enhanced functionality and features, including those that may involve artificial intelligence or machine learning;
its inability to maintain necessary third-party relationships, and third-party software licenses, and identify errors in the software it licenses;
its inability to offer and deliver high-quality technical support, implementation, and professional services;
its inability to attract and retain senior management employees and highly skilled employees;
the impact of its outstanding debt obligations on its financial condition, results of operations, and value of its common stock;
its ability to maintain effective internal control over financial reporting, and the effect of the existing material weakness in its internal control over financial reporting on its business, financial condition, and results of operations; or
the impact of adverse economic and market conditions on its business, operating results, or financial condition.

Although Dayforce has attempted to identify important risk factors, additional factors or events that could cause Dayforce’s actual performance to differ from these forward-looking statements may emerge from time to time, and it is not possible for Dayforce to predict all of them. Should one or more of these risks or uncertainties materialize, or should any of Dayforce’s assumptions prove incorrect, its actual financial condition, results of operations, future performance, and business may vary in material respects from the performance projected in these forward-looking statements. In addition to any factors and assumptions set forth above in this press release, the material factors and assumptions used to develop the forward-looking information include, but are not limited to: the general economy remains stable; the competitive environment in the HCM market remains stable; the demand environment for HCM solutions remains stable; Dayforce’s implementation capabilities and cycle times remain stable; foreign exchange rates, both current and those used in developing forward-looking statements, specifically U.S. dollar to Canadian dollar, remain stable at, or near, current rates; Dayforce will be able to maintain its relationships with its employees, customers, and partners; Dayforce will continue to attract qualified personnel to support its development requirements and the support of its new and existing customers; and that the risk factors noted above, individually or collectively, do not have a material impact on Dayforce. Any forward-looking statement made by Dayforce in this press release speaks only as of the date on which it is made. Dayforce undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.


Dayforce, Inc. Condensed Consolidated Balance Sheets (Unaudited)

	September 30,			December 31,
	2024			2023
(In millions, except per share data)
Assets
Current assets:
Cash and equivalents	$	494.1		$	570.3
Restricted cash		—			0.8
Trade and other receivables, net		255.8			228.8
Prepaid expenses and other current assets		153.3			126.7
Total current assets before customer funds		903.2			926.6
Customer funds		4,000.7			5,028.6
Total current assets		4,903.9			5,955.2
Right of use lease assets, net		14.7			19.1
Property, plant, and equipment, net		228.3			210.1
Goodwill		2,394.5			2,293.9
Other intangible assets, net		228.3			230.2
Deferred sales commissions		215.6			192.1
Other assets		131.7			110.3
Total assets	$	8,117.0		$	9,010.9

Liabilities and stockholders’ equity
Current liabilities:
Current portion of long-term debt	$	7.3		$	7.6
Current portion of long-term lease liabilities		6.0			7.0
Accounts payable		73.1			66.7
Deferred revenue		42.7			40.2
Employee compensation and benefits		77.9			92.9
Other accrued expenses		66.3			30.4
Total current liabilities before customer funds obligations		273.3			244.8
Customer funds obligations		4,004.6			5,090.1
Total current liabilities		4,277.9			5,334.9
Long-term debt, less current portion		1,209.9			1,210.1
Employee benefit plans		25.0			27.7
Long-term lease liabilities, less current portion		14.0			18.9
Other liabilities		34.2			21.1
Total liabilities		5,561.0			6,612.7
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.01 par, 500.0 shares authorized, 157.8 and 156.3 shares issued and outstanding, respectively		1.6			1.6
Additional paid in capital		3,291.5			3,151.1
Accumulated deficit		(340.5	)		(317.8	)
Accumulated other comprehensive loss		(396.6	)		(436.7	)
Total stockholders’ equity		2,556.0			2,398.2
Total liabilities and stockholders’ equity	$	8,117.0		$	9,010.9


Dayforce, Inc. Condensed Consolidated Statements of Operations (Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024		2023
(In millions, except per share data)
Revenue:
Recurring	$	375.9		$	325.4		$	1,123.6	$	958.2
Professional services and other		64.1			52.1			171.2		155.8
Total revenue		440.0			377.5			1,294.8		1,114.0
Cost of revenue:
Recurring		87.4			80.5			265.1		239.4
Professional services and other		75.1			66.1			210.8		197.0
Product development and management		55.4			53.3			166.8		153.5
Depreciation and amortization		20.8			17.1			58.6		47.4
Total cost of revenue		238.7			217.0			701.3		637.3
Gross profit		201.3			160.5			593.5		476.7
Selling and marketing		86.4			61.8			248.5		177.5
General and administrative		94.1			72.2			269.4		204.9
Operating profit		20.8			26.5			75.6		94.3
Interest expense, net		8.8			8.9			33.2		27.2
Other (income) expense, net		(6.3	)		5.1			5.7		6.6
Income before income taxes		18.3			12.5			36.7		60.5
Income tax expense		16.3			16.3			29.4		51.3
Net income (loss)	$	2.0		$	(3.8	)	$	7.3	$	9.2
Net income (loss) per share:
Basic	$	0.01		$	(0.02	)	$	0.05	$	0.06
Diluted	$	0.01		$	(0.02	)	$	0.05	$	0.06
Weighted average shares outstanding:
Basic		158.1			155.7			157.6		155.0
Diluted		159.7			155.7			159.9		158.2


Dayforce, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited)

	Nine Months Ended September 30,
	2024			2023
(In millions)
Cash flows from operating activities
Net income	$	7.3		$	9.2
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income tax (benefit) expense		(27.5	)		13.9
Depreciation and amortization		151.5			84.1
Amortization of debt issuance costs and debt discount		3.2			3.3
Loss on debt extinguishment		4.3			—
Provision for doubtful accounts		4.7			4.2
Net periodic pension and postretirement cost		7.6			0.9
Share-based compensation expense		118.4			118.0
Change in fair value of contingent consideration		9.0			11.8
Other		(1.2	)		0.3
Changes in operating assets and liabilities, excluding effects of acquisitions:
Trade and other receivables		(26.2	)		(62.0	)
Prepaid expenses and other current assets		(4.5	)		(20.1	)
Deferred sales commissions		(22.9	)		(25.9	)
Accounts payable and other accrued expenses		5.9			8.5
Deferred revenue		(6.5	)		7.5
Employee compensation and benefits		(16.1	)		(23.2	)
Accrued taxes		22.5			11.0
Payment of contingent consideration		(20.9	)		—
Other assets and liabilities		(8.5	)		(11.9	)
Net cash provided by operating activities		200.1			129.6

Cash flows from investing activities
Purchases of customer funds marketable securities		(483.2	)		(252.0	)
Proceeds from sale and maturity of customer funds marketable securities		283.4			326.4
Purchases of marketable securities		(10.0	)		—
Proceeds from sale and maturity of marketable securities		7.6			—
Expenditures for property, plant, and equipment		(8.7	)		(15.4	)
Expenditures for software and technology		(74.1	)		(72.9	)
Acquisition costs, net of cash acquired		(173.1	)		—
Other		—			(1.0	)
Net cash used in investing activities		(458.1	)		(14.9	)

Cash flows from financing activities
(Decrease) increase in customer funds obligations, net		(1,049.9	)		311.0
Proceeds from issuance of common stock under share-based compensation plans		22.0			40.3
Repurchases of common stock		(28.8	)		—
Proceeds from debt issuance		650.0			—
Repayment of long-term debt obligations		(646.5	)		(6.0	)
Payment of debt refinancing costs		(11.4	)		—
Payment of contingent consideration		(3.0	)		—
Net cash (used in) provided by financing activities		(1,067.6	)		345.3

Effect of exchange rate changes on cash, restricted cash, and equivalents		(18.2	)		5.1
Net (decrease) increase in cash, restricted cash, and equivalents		(1,343.8	)		465.1
Cash, restricted cash, and equivalents at beginning of period		3,421.4			3,151.2
Cash, restricted cash, and equivalents at end of period	$	2,077.6		$	3,616.3

Reconciliation of cash, restricted cash, and equivalents to the condensed consolidated balance sheets
Cash and equivalents	$	494.1		$	510.3
Restricted cash		—			0.8
Restricted cash and equivalents included in customer funds		1,583.5			3,105.2
Total cash, restricted cash, and equivalents	$	2,077.6		$	3,616.3


Dayforce, Inc. Revenue Financial Measures (Unaudited)

	Three Months Ended September 30,				Percentage change in revenue			Impact of changes in foreign currency (a)			Percentage change in revenue on a constant currency basis (a)
	2024		2023		2024 vs. 2023						2024 vs. 2023
	(In millions)
Revenue:
Recurring revenue:
Dayforce recurring, excluding float	$	292.0	$	245.6		18.9	%		(0.1	)%		19.0	%
Dayforce float		41.2		34.0		21.2	%		(0.3	)%		21.5	%
Total Dayforce recurring		333.2		279.6		19.2	%		(0.1	)%		19.3	%
Powerpay recurring, excluding float		20.2		19.6		3.1	%		(2.0	)%		5.1	%
Powerpay float		4.2		4.4		(4.5	)%		(2.2	)%		(2.3	)%
Total Powerpay recurring		24.4		24.0		1.7	%		(2.0	)%		3.7	%
Total Cloud recurring		357.6		303.6		17.8	%		(0.3	)%		18.1	%
Other recurring (b)		18.3		21.8		(16.1	)%		0.9	%		(17.0	)%
Total recurring revenue		375.9		325.4		15.5	%		(0.2	)%		15.7	%
Professional services and other (c)		64.1		52.1		23.0	%		(—	)%		23.0	%
Total revenue	$	440.0	$	377.5		16.6	%		(0.1	)%		16.7	%

a)	Dayforce has calculated percentage change in revenue on a constant currency basis by applying the average foreign exchange rate in effect during the comparable prior period. Please refer to the “Non-GAAP Financial Measures” section for discussion of percentage change in revenue on a constant currency basis.
b)	Float attributable to Other recurring was $0.2 million and $0.4 million for the three months ended September 30, 2024, and 2023, respectively.
c)	For the three months ended September 30, 2024, Professional services and other consisted of $61.8 million and $2.3 million associated with Dayforce and Other, respectively. For the three months ended September 30, 2023, Professional services and other consisted of $48.2 million, $3.8 million, and $0.1 million associated with Dayforce, Other, and Powerpay, respectively.

	Nine Months Ended September 30,				Percentage change in revenue			Impact of changes in foreign currency (a)			Percentage change in revenue on a constant currency basis (a)
	2024		2023		2024 vs. 2023						2024 vs. 2023
	(In millions)
Revenue:
Recurring revenue:
Dayforce recurring, excluding float	$	852.1	$	706.5		20.6	%		(0.2	)%		20.8	%
Dayforce float		139.9		112.5		24.4	%		(0.2	)%		24.6	%
Total Dayforce recurring		992.0		819.0		21.1	%		(0.2	)%		21.3	%
Powerpay recurring, excluding float		60.6		58.8		3.1	%		(1.2	)%		4.3	%
Powerpay float		14.4		13.4		7.5	%		(0.7	)%		8.2	%
Total Powerpay recurring		75.0		72.2		3.9	%		(1.1	)%		5.0	%
Total Cloud recurring		1,067.0		891.2		19.7	%		(0.3	)%		20.0	%
Other recurring (b)		56.6		67.0		(15.5	)%		(1.0	)%		(14.5	)%
Total recurring revenue		1,123.6		958.2		17.3	%		(0.3	)%		17.6	%
Professional services and other (c)		171.2		155.8		9.9	%		(0.2	)%		10.1	%
Total revenue	$	1,294.8	$	1,114.0		16.2	%		(0.3	)%		16.5	%

a)	Dayforce has calculated percentage change in revenue on a constant currency basis by applying the average foreign exchange rate in effect during the comparable prior period. Please refer to the “Non-GAAP Financial Measures” section for discussion of percentage change in revenue on a constant currency basis.
b)	Float attributable to Other recurring was $0.9 million and $1.6 million for the nine months ended September 30, 2024, and 2023, respectively.
c)	For the nine months ended September 30, 2024, Professional services and other consisted of $164.4 million, $6.6 million, and $0.2 million associated with Dayforce, Other, and Powerpay, respectively. For the three months ended September 30, 2023, Professional services and other consisted of $144.6 million, $11.1 million, and $0.1 million associated with Dayforce, Other, and Powerpay, respectively.


Dayforce, Inc. Share-Based Compensation Expense and Related Employer Taxes (Unaudited)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(in millions)
Cost of revenue – Cloud	$	3.0	$	3.9	$	9.6	$	11.9
Cost of revenue – Other		0.6		0.5		1.7		1.2
Professional services and other		4.0		4.4		11.7		13.5
Product development and management		8.1		7.8		25.0		25.7
Sales and marketing		9.4		6.4		27.2		19.0
General and administrative		14.5		13.4		43.2		47.0
Total	$	39.6	$	36.4	$	118.4	$	118.3


Dayforce, Inc. Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited)

The following tables reconcile Dayforce’s reported results to its non-GAAP financial measures:

	Three Months Ended September 30, 2024
	As reported		As reported margins (a)			Share-based compensation		Amortization		Other (b)			As adjusted (b)		As adjusted margins (a)
	(Dollars in millions, except per share data)
Cost of Cloud recurring revenue	$	75.1		79.0	%	$	3.0	$	—	$	0.1		$	72.0		79.9	%

Operating profit	$	20.8		4.7	%	$	39.6	$	29.6	$	13.2		$	103.2		23.5	%

Net income	$	2.0		0.5	%	$	39.6	$	29.6	$	3.3		$	74.5		16.9	%
Interest expense, net		8.8					—		—		—			8.8
Income tax expense (c)		16.3					—		—		(4.0	)		20.3
Depreciation and amortization		52.1					—		29.6		—			22.5
EBITDA	$	79.2				$	39.6	$	—	$	7.3		$	126.1		28.7	%

Net income per share – diluted (d)	$	0.01				$	0.25	$	0.19	$	0.02		$	0.47

a)	Cloud recurring gross margin is defined as total Cloud recurring revenue less cost of Cloud recurring revenue as a percentage of total Cloud recurring revenue. Operating profit margin and net profit margin are determined by calculating the percentage operating profit and net (loss) income are of total revenue. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted margins.
b)	The as adjusted column is a non-GAAP financial measure, adjusted to exclude share-based compensation expense and related employer taxes, amortization of acquisition-related intangible assets, and certain other items including $9.0 million related to the fair value adjustment for the DataFuzion contingent consideration, $3.2 million of restructuring expenses, $3.2 million of costs associated with the planned termination of its frozen U.S. pension plan, $1.0 million of fees associated with initiating the receivables securitization program, and $9.1 million of foreign exchange gain, along with a $4.0 million net adjustment for the effect of income taxes related to these items. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted metrics.
c)	Income tax effects have been calculated based on the statutory tax rates in effect in the U.S. and foreign jurisdictions during the period.
d)	GAAP and Adjusted diluted net income per share are calculated based upon 159.7 million weighted average shares of common stock.

	Three Months Ended September 30, 2023
	As reported			As reported margins (a)			Share-based compensation		Amortization		Other (b)			As adjusted (b)		As adjusted margins (a)
	(Dollars in millions, except per share data)
Cost of Cloud recurring revenue	$	69.9			77.0	%	$	3.9	$	—	$	—		$	66.0		78.3	%

Operating profit	$	26.5			7.0	%	$	36.4	$	20.5	$	6.0		$	89.4		23.7	%

Net (loss) income	$	(3.8	)		(1.0	)%	$	36.4	$	20.5	$	5.2		$	58.3		15.4	%
Interest expense, net		8.9						—		—		—			8.9
Income tax expense (c)		16.3						—		—		(5.5	)		21.8
Depreciation and amortization		38.7						—		20.5		—			18.2
EBITDA	$	60.1					$	36.4	$	—	$	10.7		$	107.2		28.4	%

Net (loss) income per share – diluted (d)	$	(0.02	)				$	0.23	$	0.13	$	0.03		$	0.37

a)	Cloud recurring gross margin is defined as total Cloud recurring revenue less cost of Cloud recurring revenue as a percentage of total Cloud recurring revenue. Operating profit margin and net profit margin are determined by calculating the percentage operating profit and net income are of total revenue. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted margins.
b)	The as adjusted column is a non-GAAP financial measure, adjusted to exclude share-based compensation expense and related employer taxes, amortization of acquisition-related intangible assets, and certain other items including $4.7 million of foreign exchange loss, $4.6 million related to the impact of the fair value adjustment for the DataFuzion contingent consideration, $1.2 million of restructuring expenses, and $0.2 million related to the abandonment of certain leased facilities, along with a $5.5 million net adjustment for the effect of income taxes related to these items. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted metrics.
c)	Income tax effects have been calculated based on the statutory tax rates in effect in the U.S. and foreign jurisdictions during the period.
d)	GAAP diluted net loss per share is calculated based upon 155.7 weighted average shares of common stock, and Adjusted diluted net income per share is calculated based upon 158.8 million weighted average shares of common stock.

	Nine Months Ended September 30, 2024
	As reported		As reported margins (a)			Share-based compensation		Amortization		Other (b)			As adjusted (b)		As adjusted margins (a)
	(Dollars in millions, except per share data)
Cost of Cloud recurring revenue	$	228.5		78.6	%	$	9.6	$	—	$	0.9		$	218.0		79.6	%

Operating profit	$	75.6		5.8	%	$	118.4	$	87.5	$	25.7		$	307.2		23.7	%

Net income	$	7.3		0.6	%	$	118.4	$	87.5	$	5.5		$	218.7		16.9	%
Interest expense, net		33.2					—		—		—			33.2
Income tax expense (c)		29.4					—		—		(27.0	)		56.4
Depreciation and amortization		151.5					—		87.5		—			64.0
EBITDA	$	221.4				$	118.4	$	—	$	32.5		$	372.3		28.8	%

Net income per share – diluted (d)	$	0.05				$	0.74	$	0.55	$	0.03		$	1.37

a)	Cloud recurring gross margin is defined as total Cloud recurring revenue less cost of Cloud recurring revenue as a percentage of total Cloud recurring revenue. Operating profit margin and net profit margin are determined by calculating the percentage operating profit and net income are of total revenue. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted margins.
b)	The as adjusted column is a non-GAAP financial measure, adjusted to exclude share-based compensation expense and related employer taxes, amortization of acquisition-related intangible assets, and certain other items including $15.7 million of restructuring expenses, $9.7 million of costs associated with the planned termination of its frozen U.S. pension plan, $9.0 million related to the fair value adjustment for the DataFuzion contingent consideration, $1.0 million of fees associated with initiating the receivables securitization program, and $2.9 million of foreign exchange gain, along with a $27.0 million net adjustment for the effect of income taxes related to these items. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted metrics.
c)	Income tax effects have been calculated based on the statutory tax rates in effect in the U.S. and foreign jurisdictions during the period.
d)	GAAP and Adjusted diluted net income per share are calculated based upon 159.9 million weighted average shares of common stock.

	Nine Months Ended September 30, 2023
	As reported		As reported margins (a)			Share-based compensation		Amortization		Other (b)			As adjusted (b)		As adjusted margins (a)
	(Dollars in millions, except per share data)
Cost of Cloud recurring revenue	$	204.8		77.0	%	$	11.9	$	—	$	—		$	192.9		78.4	%

Operating profit	$	94.3		8.5	%	$	118.3	$	32.7	$	15.6		$	260.9		23.4	%

Net income	$	9.2		0.8	%	$	118.3	$	32.7	$	(1.8	)	$	158.4		14.2	%
Interest expense, net		27.2					—		—		—			27.2
Income tax expense (c)		51.3					—		—		(22.7	)		74.0
Depreciation and amortization		84.1					—		32.7		—			51.4
EBITDA	$	171.8				$	118.3	$	—	$	20.9		$	311.0		27.9	%

Net income per share – diluted (d)	$	0.06				$	0.75	$	0.21	$	(0.01	)	$	1.00

a)	Cloud recurring gross margin is defined as total Cloud recurring revenue less cost of Cloud recurring revenue as a percentage of total Cloud recurring revenue. Operating profit margin and net profit margin are determined by calculating the percentage operating profit and net income are of total revenue. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted margins.
b)	The as adjusted column is a non-GAAP financial measure, adjusted to exclude share-based compensation expense and related employer taxes, amortization of acquisition-related intangible assets, and certain other items including $11.8 million related to the impact of the fair value adjustment for the DataFuzion contingent consideration, $5.3 million of foreign exchange loss, $3.4 million of restructuring expenses, and $0.4 million related to the abandonment of certain leased facilities, along with a $22.7 million net adjustment for the effect of income taxes related to these items. Please refer to the “Non-GAAP Financial Measures” section for additional information on the as adjusted metrics.
c)	Income tax effects have been calculated based on the statutory tax rates in effect in the U.S. and foreign jurisdictions during the period.
d)	GAAP and Adjusted diluted net income per share are calculated based upon 158.2 million weighted average shares of common stock.


Dayforce, Inc. Reconciliation of Free Cash Flow (Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
	(In millions)
Net cash provided by operating activities	$	91.8		$	36.6		$	200.1		$	129.6
Expenditures for property, plant, and equipment		(2.0	)		(5.3	)		(8.7	)		(15.4	)
Expenditures for software and technology		(26.4	)		(26.5	)		(74.1	)		(72.9	)
Free cash flow	$	63.4		$	4.8		$	117.3		$	41.3

Non-GAAP Financial Measures

Dayforce uses certain non-GAAP financial measures in this release including:

Non-GAAP Financial Measure		GAAP Financial Measure
EBITDA		Net (loss) income
Adjusted EBITDA		Net (loss) income
Adjusted EBITDA margin		Net profit margin
Adjusted Cloud recurring gross margin		Cloud recurring gross margin
Adjusted operating profit		Operating profit
Adjusted operating profit margin		Operating profit margin
Adjusted net income		Net (loss) income
Adjusted net profit margin		Net profit margin
Adjusted diluted net income per share		Diluted net (loss) income per share
Free cash flow		Net cash provided by operating activities
Percentage change in revenue, including total revenue and revenue by solution, on a constant currency basis		Percentage change in revenue, including total revenue and revenue by solution
Dayforce recurring revenue per customer		No directly comparable GAAP measure

Dayforce believes that these non-GAAP financial measures are useful to management and investors as supplemental measures to evaluate its overall operating performance including comparison across periods and with competitors. Dayforce’s management team uses these non-GAAP financial measures to assess operating performance because these financial measures exclude the results of decisions that are outside the normal course of its business operations, and are used for internal budgeting and forecasting purposes both for short- and long-term operating plans. Additionally, Adjusted EBITDA is a component of its management incentive plan and Adjusted Cloud recurring gross margin and Adjusted operating profit are components of certain performance based equity awards for its named executive officers. Additionally, Dayforce believes that the non-GAAP financial measure free cash flow is meaningful to investors because it is a measure of liquidity that provides useful information in understanding and evaluating the strength of Dayforce’s liquidity and future ability to generate cash that can be used for strategic opportunities or investing in its business. The exclusion of capital expenditures facilitates comparisons of Dayforce’s liquidity on a period-to-period basis and excludes items that management does not consider to be indicative of Dayforce’s liquidity.

These non-GAAP financial measures are not required by, defined under, or presented in accordance with, GAAP, and should not be considered as alternatives to Dayforce’s results as reported under GAAP, have important limitations as analytical tools, and its use of these terms may not be comparable to similarly titled measures of other companies in its industry. Dayforce’s presentation of non-GAAP financial measures should not be construed to imply that its future results will be unaffected by similar items to those eliminated in this presentation. Please refer to Dayforce’s full financial results, including further discussion of non-GAAP financial measures, on the Investor Relations portion of its website at investors.dayforce.com.

Dayforce defines its non-GAAP financial measures as follows:

EBITDA is defined as net (loss) income before interest, taxes, depreciation, and amortization, and Adjusted EBITDA is EBITDA, as adjusted to exclude share-based compensation expense and related employer taxes, and certain other items.
Adjusted EBITDA margin is determined by calculating the percentage Adjusted EBITDA is of total revenue.
Adjusted Cloud recurring gross margin is defined as Cloud recurring gross margin, as adjusted to exclude share-based compensation and related employer taxes, and certain other items, as a percentage of total Cloud recurring revenue.
Adjusted operating profit is defined as operating profit, as adjusted to exclude share-based compensation expense and related employer taxes, amortization of acquisition-related intangible assets, and certain other items.
Adjusted net income is defined as net (loss) income, as adjusted to exclude share-based compensation expense and related employer taxes, amortization of acquisition-related intangible assets, and certain other items, all of which are adjusted for the effect of income taxes.
Adjusted net profit margin is determined by calculating the percentage Adjusted net income is of total revenue.
Adjusted diluted net income per share is calculated by dividing adjusted net income by diluted weighted average common shares outstanding. When adjusted diluted net income per share is positive, diluted weighted average common shares outstanding incorporate the effect of dilutive equity instruments.
Free cash flow is defined as net cash provided by operating activities, as adjusted to exclude capital expenditures.
Percentage change in revenue, including total revenue and revenue by solution, on a constant currency basis is calculated by applying the average foreign exchange rate in effect during the comparable prior period.
Dayforce recurring revenue per customer is an indicator of the average size of Dayforce recurring revenue customers. To calculate Dayforce recurring revenue per customer, the Company starts with Dayforce recurring revenue on a constant currency basis by applying the same exchange rate to all comparable periods for the trailing twelve months and excludes float revenue and Ascender, ADAM HCM, and eloomi revenue. This amount is divided by the number of live Dayforce customers at the end of the trailing twelve month period, excluding Ascender, ADAM HCM, and eloomi. The Company has not reconciled the Dayforce recurring revenue per customer because there is no directly comparable GAAP financial measure.

Source: Dayforce, Inc.

For further information, please contact:

Investor Relations
1-844-829-9499
investors@dayforce.com

Public Relations
1-647-417-2117
teri.murphy@dayforce.com

The MIL Network –

January 25, 2025

MIL-OSI: Amplify ETFs Declares October Income Distributions for its Income ETFs

Source: GlobeNewswire (MIL-OSI)

CHICAGO, Oct. 30, 2024 (GLOBE NEWSWIRE) — Amplify ETFs announces October income distributions for its income ETFs.

ETF Name	Ticker	Amount per Share		Ex-Date	Record Date	Payable Date
Amplify Samsung SOFR ETF	SOFR	$	0.40475	10/30/24	10/30/24	10/31/24
Amplify Cash Flow High Income ETF	HCOW	$	0.17240	10/30/24	10/30/24	10/31/24
Amplify CWP Enhanced Dividend Income ETF	DIVO	$	0.16419	10/30/24	10/30/24	10/31/24
Amplify CWP International Enhanced Dividend Income ETF	IDVO	$	0.15609	10/30/24	10/30/24	10/31/24
Amplify CWP Growth & Income ETF	QDVO	$	0.15131	10/30/24	10/30/24	10/31/24
Amplify Natural Resources Dividend Income ETF	NDIV	$	0.12455	10/30/24	10/30/24	10/31/24
Amplify High Income ETF	YYY	$	0.12000	10/30/24	10/30/24	10/31/24

About Amplify ETFs
Amplify ETFs, sponsored by Amplify Investments, has over $10 billion in assets across its suite of ETFs (as of 10/21/2024). Amplify ETFs deliver expanded investment opportunities for investors seeking growth, income, and risk-managed strategies across a range of actively managed and index-based ETFs. Learn more visit AmplifyETFs.com.

Sales Contact:
Amplify ETFs
855-267-3837
info@amplifyetfs.com

Media Contacts:
Gregory FCA for Amplify ETFs
Kerry Davis
610-228-2098
amplifyetfs@gregoryfca.com

This information is not intended to provide and should not be relied upon for accounting, legal or tax advice, or investment recommendations. To receive a distribution, you must be a registered shareholder of the fund on the record date. Distributions are paid to shareholders on the payment date. There is no guarantee that distributions will be made in the future. Your own trading will also generate tax consequences and transaction expenses. Past distributions are not indicative of future distributions. Please consult your tax professional or financial adviser for more information regarding your tax situation.

Carefully consider the Funds’ investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in Amplify Funds’ statutory and summary prospectuses, which may be obtained at AmplifyETFs.com. Read the prospectuses carefully before investing.

Investing involves risk, including the possible loss of principal.

Amplify ETFs are distributed by Foreside Services, LLC.

The MIL Network –

January 25, 2025

MIL-OSI: Navient posts third quarter 2024 financial results

Source: GlobeNewswire (MIL-OSI)

HERNDON, Va., Oct. 30, 2024 (GLOBE NEWSWIRE) — Navient (Nasdaq: NAVI) today posted its 2024 third quarter financial results. Complete financial results are available on the company’s website at Navient.com/investors. The materials will also be available on a Form 8-K on the SEC’s website at www.sec.gov.

Navient will hold a live audio webcast today, Oct. 30, 2024, at 8 a.m. ET, hosted by David Yowan, president and CEO, and Joe Fisher, CFO.

Analysts and investors who wish to ask questions are requested to pre-register at Navient.com/investors at least 15 minutes ahead of start time to receive their personal dial-in access details. Others who wish to join in listen-only mode do not need to pre-register and may simply visit Navient.com/investors to access the webcast.

Supplemental financial information and presentation slides used during the call will be available no later than the start time. A replay of the webcast will be available approximately two hours after the event’s conclusion.

About Navient
Navient (Nasdaq: NAVI) provides technology-enabled education finance and business processing solutions that simplify complex programs and help millions of people achieve success. Our customer-focused, data-driven services deliver exceptional results for clients in education and government. Learn more at navient.com.

Contact:
Media: Paul Hartwick, 302-283-4026, paul.hartwick@navient.com
Investors: Jen Earyes, 703-984-6801, jen.earyes@navient.com

The MIL Network –

January 25, 2025
MIL-OSI: Banco Santander-Chile Announces Third Quarter 2024 Earnings

Source: GlobeNewswire (MIL-OSI)

SANTIAGO, Chile, Oct. 30, 2024 (GLOBE NEWSWIRE) — Banco Santander Chile (NYSE: BSAC; SSE: Bsantander) announced today its results¹ for the nine-month period ended September 30, 2024, and third quarter 2024 (3Q24).

ROAE²of 23.1% in 3Q24³and 18.2% in 9M24⁴.

In the third quarter of 2024 (3Q24), the Bank’s net income attributable to shareholders totaled $243,133 million ($1.29 per share and US$ 0.58 per ADR), reflecting an increase of 11.7% compared to the previous quarter (2Q24), with an ROAE of 23.1%.

As of September 30, 2024, the Bank’s net income attributable to shareholders totaled $581.109 billion ($3.08 per share and US$1.37 per ADR), reflecting an increase of 81.9% compared to the same period of the previous year and with an ROAE of 18.2%.

The increase in results in the quarter is explained by an increase in the Bank’s main income lines, with operating income increasing by 6.3% in the quarter, driven by a better interest margin and readjustments.

Strong recovery of NIM⁵to 3.9% in 3Q24 and 3.4% in 9M24.

Net interest and readjustment income (NII) accumulated as of September 30, 2024 increased by 74.8% compared to the same period in 2023. This increase in NII was due to higher interest income due to improvements in the cost of funds resulting from a lower monetary policy rate, partially offset by lower readjustment income due to lower inflation in the period.

In 3Q24, total net interest and readjustment income increased by 4.2% compared to 2Q24. This is explained by higher net interest income due to lower funding costs and better investment portfolio performance, offset by lower net readjustment income due to lower UF variation in the quarter.

Net fees increase 8.3% in the quarter, reaching recurrence⁶levels of 63.4%.

Net fees increased 8.3% QoQ due to increased customer numbers and greater use of products such as mutual funds, cards and current accounts. With this, the recurrence ratio (total net fees divided by total core expenses) is 63.4% in 3Q24, demonstrating that more than half of the Bank’s expenses are financed by fees generated by our customers.

In the nine months to September 30, 2024, fees increased by 5.4% compared to the same period in 2023, mainly due to higher fees from current accounts, mutual fund brokerage and Getnet. This was partially offset by the impact of interchange fee regulation.

Getnet’s customer base continues to grow and its expansion continues

As a result of our strategy to strengthen digital products, the Bank’s market share in current accounts remains strong. According to the latest publicly available information, which is as of July 2024, our market share reaches 23.8% in current accounts, which includes products such as Santander Life and PYME Life, while our US$ current account solution is already attracting 41.2% of customers in this market. In total, our digital customers total around 2.2 million and represent 86% of our active customers, with the products with the greatest traction being deposits, credit cards, investment funds and general insurance brokerage.

Getnet’s entry into the Chilean acquiring market continues to surprise with good results, with net commissions of $54 billion in 9M24 (not including operating expenses). Customer reception has been high, with more than 182 thousand affiliated merchants and more than 243 thousand operational POSs, with a strong demand from SME clients and an expansion towards larger clients that require a Host to Host solution, offering an integrated payment system for more sophisticated clients. Thanks to Getnet and other initiatives such as the Cuenta Pyme Life, we are seeing significant growth in current accounts for SMEs and companies, growing 26.7% YoY by July 2024, and with a market share of 39.3% according to the CMF.

For the fifth consecutive year we are Top 1 in NPS among our Chilean peers

As a result of all our efforts, our customers are the most satisfied with us. As of September 2024, our NPS is 59 points, top 1 among our peers. We also rank first in net satisfaction in the evaluation of our account executives and contact center with 66 and 72 points respectively. Regarding digital channels, they also continue to be a strength, with the website standing out with a net satisfaction of 72 and the App with 74 points.

Efficiency ratio of 36.3% in the quarter as income improves and costs remain under control

The Bank’s efficiency ratio reached 40.0% as of September 30, 2024, better than the 48.0% of the same period last year, with a quarterly efficiency ratio of 36.3%, explained by the recovery of revenues in the quarter and solid cost control.

Core support expenses (salaries, administration and amortization) grew 4.4% in 9M24 compared to 9M23 and 0.4% compared to 2Q24, in line with the growth of inflation, as we mentioned in our previous guidance. Total operating expenses (which includes other expenses) increased 13.1% in 9M24 compared to the same period in 2023 driven by higher other operating expenses, related to a provision for the restructuring of our branch network and the transformation to Work/Café and also the progress in Digital Banking.

Cost of credit of 1.28% in 9M24, in line with the evolution of asset quality given the economic scenario.

During the Covid-19 pandemic, asset quality benefited from state aid and pension fund withdrawals, which led to a positive performance in assets during that period, before normalizing in line with the performance of the economy and the drainage of excess liquidity from households. Currently, our clients’ performance is reflecting the state of the economy and the labor market, where delinquency is higher than the levels we saw before the pandemic with the non-performing loans (NPL) ratio increasing to 3.1% and the impaired portfolio to 6.7% at September 2024. Overall the cost of credit remained stable at 1.28% in the quarter.

Solid capital levels with a BIS⁷ratio of 17.2% and a CET1⁸of 10.7%.

Our total BIS ratio reached 17.2% as of September 30, 2024 and the CET1 ratio remains solid at 10.7%, even considering that we increased the dividend provision for the 2024 income from 30% to 60% in June 2024 and then to 70% in September 2024. Risk-weighted assets (RWA) increased 0.8% since December 31, 2023 and 0.3% QoQ, explained by a growth in market risk-weighted assets offset by a decrease in credit risk-weighted assets. Additionally, in January 2024, the CMF announced the Pillar II charges for six banks in the Chilean system, and we highlight that, on this occasion, they did not assign a charge to the Bank.

Upgrading guidance for 2024 and soft guidance for 2025

Given the strong recovery in our results and our current economic estimates for the fourth quarter, we are improving our ROAE guidance for 2024 to 18%-19%. We have upgraded our medium term guidance for ROAEs to 18%-20% and our soft guidance for 2025 indicates a ROAE within this range.

Banco Santander Chile is one of the companies with the highest risk classifications in Latin America with an A2 rating from Moody’s, A- from Standard and Poor’s, A+ from Japan Credit Rating Agency, AA- from HR Ratings and A from KBRA. All our ratings as of the date of this report have a Stable Outlook.

As of September 30, 2024, the Bank has total assets of $65,890,254 million (US$73,419 million), total gross loans (including loans to banks) at amortized cost of $40,362,740 million (US$44,975 million), total deposits of $29,617,085 million (US$33,001 million) and shareholders’ equity of $4,218,883 million (US$4,701 million). The BIS capital ratio was 17.2%, with a core capital ratio of 10.7%. As of September 30, 2024, Santander Chile employed 8,861 people and has 234 branches throughout Chile.

CONTACT INFORMATION
Cristian Vicuña
Chief Strategy Officer and Head of Investor Relations
Banco Santander Chile
Bandera 140, Floor 20
Santiago, Chile
Email: irelations@santander.cl Website: www.santander.cl

^¹ The information contained in this report is presented in accordance with Chilean Bank GAAP as defined by the Financial Markets Commission (FMC).
^² Annualized net income attributable to shareholders of the Bank divided by the average equity attributable to equity holders
^³ The third quarter of 2024
^⁴ The nine months accumulated as of September 30, 2024
^⁵ NIM: Net interest margin. Annualized net interest income and annualized readjustments divided by interest-earning assets
^⁶Recurrence: Net commissions divided by structural operating expenses (excludes other operating expenses).
^⁷ Regulatory capital divided by risk-weighted assets, according to CMF BIS III definitions
^⁸ Core capital divided by risk-weighted assets, according to CMF BIS III definitions.

The MIL Network –

January 25, 2025
MIL-OSI: Dragonfly Energy to Report Third Quarter 2024 Financial and Operational Results on November 14, 2024

Source: GlobeNewswire (MIL-OSI)

RENO, Nev., Oct. 30, 2024 (GLOBE NEWSWIRE) — Dragonfly Energy Holdings Corp. (“Dragonfly Energy” or the “Company”) (Nasdaq: DFLI), maker of Battle Born Batteries^® and an industry leader in energy storage, today announced that the Company will release its financial and operational results for the third quarter ended September 30, 2024 after market close on Thursday, November 14, 2024. The earnings press release will be followed by a conference call on November 14, 2024 at 5:00 PM Eastern Time.

Interested investors and other parties may access the live webcast via the link found here or through the Events and Presentations page within the Investor Relations section of Dragonfly Energy’s website at https://investors.dragonflyenergy.com/events-and-presentations/default.aspx. The call can also be accessed live via telephone by dialing (800) 549-8228, toll-free in North America, or for international callers +1 (289) 819-1520, and referencing conference ID: 64729. Please log in to the webcast or dial in for the call at least 10 minutes prior to the start of the event.

An archive of the webcast will be available for a period of time shortly after the call on the Events and Presentations page on the Investor Relations section of Dragonfly Energy’s website, along with the earnings press release.

About Dragonfly Energy
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) is a comprehensive lithium battery technology company, specializing in cell manufacturing, battery pack assembly, and full system integration. Through its renowned Battle Born Batteries® brand, Dragonfly Energy has established itself as a frontrunner in the lithium battery industry, with hundreds of thousands of reliable battery packs deployed in the field through top-tier OEMs and a diverse retail customer base. At the forefront of domestic lithium battery cell production, Dragonfly Energy’s patented dry electrode manufacturing process can deliver chemistry-agnostic power solutions for a broad spectrum of applications, including energy storage systems, electric vehicles, and consumer electronics. The Company’s overarching mission is the future deployment of its proprietary, nonflammable, all-solid-state battery cells.

To learn more about Dragonfly Energy and its commitment to clean energy advancements, visit www.dragonflyenergy.com/investors.

Investor Relations
Caldwell Bailey
DragonflyIR@icrinc.com

Source: Dragonfly Energy Holdings Corp.

The MIL Network –

January 25, 2025
MIL-OSI: Redoxblox Closes $40.7 Million Series A to Support Industrial Decarbonization and Grid Storage with Next-Gen Thermochemical Energy Storage System

Source: GlobeNewswire (MIL-OSI)

SAN DIEGO, Oct. 30, 2024 (GLOBE NEWSWIRE) — Redoxblox raised an additional $30M in Series A funding, led by Prelude Ventures and joined by Imperative Ventures and New System Ventures, alongside existing investors Breakthrough Energy Ventures and Khosla Ventures. This brings the total Series A round to $40.7M. Redoxblox is pioneering a new class of low-cost thermochemical energy storage systems (TCES) designed to accelerate industrial decarbonization and address long duration energy storage needs for the grid. The company’s TCES units store energy both chemically and as heat at high temperatures, allowing for continuous or on-demand discharge for industrial processes or electricity generation. The system can fast charge when electricity prices are low or during periods of surplus renewables generation.

Today, 95% of industrial heat is provided by fossil fuels, which accounts for 30% of global carbon emissions. Decarbonizing this sector has been historically challenging due to a lack of affordable emissions-free alternatives. With a conversion efficiency comparable to lithium-ion batteries, higher energy density, and direct high temperature air discharge, Redoxblox provides the first reliable, cost-competitive solution to effectively use electricity as an alternative to fossil fuels. The system also offers space efficient, grid-scale long duration energy storage, enabling intermittent renewables to meet baseload needs.

The company also announces the appointment of a new CEO, Pasquale Romano, formerly President and CEO of ChargePoint and currently Member of The President of the United States’ National Infrastructure Advisory Council (NIAC). Romano will lead the company through its next phase of growth, expanding into key industrial heat and long duration grid scale storage markets.

“Decarbonization depends on widespread adoption of cost-competitive alternatives to fossil fuels for industrial heat applications that address the time-varying nature of electricity demand and fluctuating renewable generation. Our goal is to address the density, cycle life, reliability, efficiency, and cost requirements to enable the world to decarbonize without economic compromise,” said Romano. “Decarbonization has to be a natural side effect of utilizing cost-competitive technologies to meet the world’s energy needs.”

The company’s Series A funding follows grants from the California Energy Commission (CEC) and the U.S. Department of Energy (DOE). Redoxblox was selected by the CEC for a project to demonstrate the ability to provide 24 hours of electricity storage capacity in collaboration with UC San Diego and the Electric Power Research Institute (EPRI). Similarly, the DOE’s Industrial Efficiency and Decarbonization Office chose Redoxblox for an industrial-scale thermochemical energy storage project, partnering with Dow Chemical and EPRI to decarbonize steam production at Dow’s West Virginia plant. Both initiatives represent significant strides toward decarbonizing industrial heat and grid storage at scale.

Redoxblox’s technology offers several advantages over traditional energy storage. The storage modules are built with stable, long-lasting, non-toxic, non-flammable, and recyclable materials that can operate at temperatures up to 1500°C. After extensive cycle testing, the material proved capable of supporting mission critical industrial applications and as a reliable energy store for the grid. A single unit can store up to 20 MWh of energy at 95% round trip efficiency. Multiple units can be combined to meet the energy requirements at large facilities and can charge in as little as two hours. The system is designed to integrate seamlessly into existing industrial processes, allowing businesses to adopt without significant alterations to how their business works.

“Redoxblox is tackling one of the toughest sectors to decarbonize, industrial heat,” said Gabriel Kra, Managing Partner at Prelude Ventures. “They’ve accomplished what once seemed impossible: creating an electrical alternative to natural gas that is affordable, easy to adopt, and charges more quickly than other solutions. We’re excited to support them as they continue to scale and bring this solution to market.”

About Redoxblox
Located in San Diego, Redoxblox is pioneering a new class of low-cost thermochemical energy storage systems (TCES) designed to accelerate industrial decarbonization and address long duration energy storage needs for the grid. The company’s TCES units store energy both chemically and as heat at very high temperatures that can be discharged continuously or as needed directly into industrial processes or as an energy source for electricity generation. The system can be fast charged when electricity prices are low or during surplus renewables generation and discharged as needed. Redoxblox is backed by Prelude Ventures, Khosla Ventures, Breakthrough Energy Ventures, Imperative Ventures, and New System Ventures. To learn more, visit the website or follow Redoxblox on LinkedIn.

About Prelude Ventures
Prelude Ventures is a climate-focused venture capital firm that invests in and supports early-stage startups with the greatest potential to mitigate climate change. For over a decade, Prelude Ventures has sought out purpose-driven founders and provided the capital and expertise needed to build the next generation of category-defining businesses that will reshape our global economy for the greater good of people and the planet. Located in San Francisco, Prelude Ventures has approximately $2 billion under management.

LaunchSquad for Prelude Ventures
prelude@launchsquad.com

The MIL Network –

January 25, 2025
MIL-OSI: Foresight Ventures Announces Strategic Partnership with Deep Blue and Arta TechFin to Enhance Stablecoin and RWA Business Initiatives

Source: GlobeNewswire (MIL-OSI)

SINGAPORE, Oct. 30, 2024 (GLOBE NEWSWIRE) — Foresight Ventures, the leading investment firm specializing in Web3 projects, today announced a strategic partnership with Deep Blue, a newly launched Jersey-based stablecoin issuer and Arta TechFin Corporation Limited (Arta TechFin, HKSE: 0279), a Hong Kong listed company via its subsidiaries operating regulated financial institutions and leading blockchain developments. The alliance aims to drive innovation and growth of the Stablecoin and Real-World Asset (RWA) ecosystem.

Deep Blue is an issuance platform for Stablecoins bringing best-in-class practices and best partners in both digital assets and traditional finance, enabling users to operate across multiple use cases.

Arta TechFin will bring in its capabilities as a regulated blockchain financial services provider, collaborating with Foresight Ventures and Deep Blue on Stablecoin and RWA businesses including but not limited to origination, tokenization, market making, and providing liquidity.

Julien Bahurel, co-founder of Deep Blue, commented on the partnership: “We are excited to join forces with Foresight Ventures to accelerate our efforts in the Stablecoin and RWA sectors. This partnership represents a significant step forward in our mission to bridge the gap between traditional finance and the emerging blockchain economy; leveraging on key crypto partners, large Asia-based conglomerates and financial institutions.”

Foresight Ventures, known for its commitment to fostering Web3 projects that promote decentralization and mainstream adoption of cryptocurrency, will provide Deep Blue with strategic collaborations that include media and network resources. This partnership is expected to elevate Deep Blue’s initiatives, bringing them to a wider audience and enhancing their impact on the global financial landscape. Both parties look to leverage off each other’s access to the blockchain and traditional finance ecosystems.

Forest Bai, Representative at Foresight Ventures, expressed his enthusiasm for the partnership: “We are thrilled to collaborate with Deep Blue and ArtaTechFin, companies that share our vision of a decentralized future where blockchain and traditional finance coexist seamlessly. Our strategic resources and industry expertise will help Deep Blue scale its ecosystem and make a lasting impact in the stablecoin and RWA domains.”

This strategic partnership marks a new chapter for all companies as they work together to pioneer cutting-edge financial solutions that will shape the future of the global economy.

For more information, please visit Deep Blue Limited or ArtaTechFin

About Foresight Ventures

Foresight Ventures is the leading global crypto venture capital firm, managing over $400 million in assets across 100+ investments. With a research-driven approach, Foresight Ventures bridges Eastern and Western markets, focusing on early-stage opportunities in Web3. Its diverse portfolio spans blockchain infrastructure, AI and consumer applications with investments in top companies like Bitget, Aptos Labs, and TON. Through its premier owned media network, including The Block, Coinness and BlockTempo, the firm provides exposure to transformative technologies that shape the future of financial ecosystems.

Foresight Ventures backs the boldest upcoming innovations, encouraging concepts that challenge conventional platforms with real-life use cases built on emerging technologies. Dedicated to accelerating crypto adoption for billions of people worldwide, Foresight Ventures breaks down barriers empowering global financial freedom and inclusion to all.

For general enquiries, please email: fv@foresightventures.com

Contact

Media Team

Foresight Ventures

fv@foresightventures.com

The MIL Network –

January 25, 2025
MIL-OSI Africa: South Africa’s fight against extreme poverty needs a new strategy – model shows how social grants could work

Source: The Conversation – Africa – By Ramos Emmanuel Mabugu, Professor, Sol Plaatje University

South Africa has been struggling for decades to reduce poverty, inequality and unemployment and raise the rate of economic growth.

Economic growth has been slow since a recession in 2008. The annual growth rate averaged 1.1% between 2009 and 2021, slowing to 0.6% in 2023.

Unemployment remains stubbornly above 30%. It was 32.9% in the first quarter of 2024.

The country’s Gini coefficient, a measure of how income is distributed across the population, is estimated to be 0.63, one of the worst in the world. Poverty levels remain high too. A large number of people live in extreme poverty. According to Statistics South Africa, an estimated 40.0% of the population (or 25 million people) have a monthly consumption expenditure of below R9,096 (which is used as the lower-bound poverty line). And 55.5% of the population falls within the upper-bound poverty line, with monthly consumption expenditure of below R13,656.

This is despite government’s extensive spending on social assistance and other support mechanisms. In the 2023/24 fiscal year, there were 18.8 million social grant beneficiaries (about 35% of the population) with an annual cost to the fiscus of R217.1 billion (US$12.2 billion). This is expected to increase to R259.3 billion (US$14.6 billion) in 2026/27.

Social support also includes spending on health, education, social protection, community development and employment programmes which protect the most vulnerable groups. In addition, the government has extended the Social Relief of Distress Grant which was introduced during the COVID pandemic.

Based on my research as an economist for the last 20 years, I believe the government won’t make much progress in reducing unemployment, inequality and poverty unless it adopts a different strategy – one that targets extreme poverty reduction explicitly.

In a recent paper, colleagues and I identify key conditions for reducing extreme poverty through social transfers. We designed an economic simulation model to track the effect of increasing social grants to very poor South Africans to move them out of extreme poverty. This would be done by transferring an average of R4,020 (US$225) to every extremely poor South African. Based on our assumptions, about 25 million individuals would be eligible for this social transfer.

Moving about 25 million South Africans out of extreme poverty would cost on average US$6.5 billion per year. We argue that this cost is worth carrying. Our model also showed that, under certain conditions, poverty-alleviation social transfers can be good for the broader economy.

Additional benefits

We know that social grants are important instruments to fight poverty and inequality in South Africa. They can produce sizeable multiplier effects in the economy.

But we wanted to know more about how society benefits when a large share of the public budget is transferred to poor households.

What makes the model we built to explore this different is that we simulated the economic implications of a hypothetical South Africa with lower poverty and inequality outcomes. More precisely, we set the poverty headcount rate at the lower-bound poverty line at 5.0% under both unconstrained and constrained scenarios. This is the conventionally accepted definition of extreme poverty eradication.

The tool combined a macroeconomic model to project the economic impacts and a micro-simulation model to work out the poverty and inequality effects.

We tested a combination of policy options, including social grants, and their multiplier effects and funding implications. We considered two financing scenarios: one that involved a budget deficit and one which was budget-neutral.

Under a budget-neutral scenario, funding for interventions would be taken from budgets allocated for other purposes and put towards poverty alleviation instead.

Key findings

The model showed that the South African economy, measured by the level of gross domestic product (GDP), would grow faster (by 0.5 percentage points) when the transfer was designed to support poor people’s progressive engagement in economic participation rather than simply providing them with a basic cash grant. This can be done, for instance, by expanding and upgrading the current social assistance schemes such as the public work programmes. These have been shown to have positive outcomes for economic participation.

When people who receive income transfers are able to work, they contribute to a higher supply of goods and services as well as to higher demand.

The inflationary effects, in particular food price increases, are limited under this scenario.

On the other hand, GDP deteriorates by 1 percentage point when there is no requirement or condition for participation (when grant recipients still don’t have a job). Under this scenario food demand increases and related price increases contribute to reducing consumers’ purchasing power.

What needs to be done

Our model shows how poverty-alleviation social transfers can have positive economic outcomes under two conditions.

First, the expansion of the grant lifting approximately 25 million South Africans above the lower-bound poverty line of R9,606 has to be done under a budget-neutral funding arrangement.

Second, the transfer has to be made with a requirement that there is an increase in the economic participation of extremely poor beneficiaries. In other words, the grant only has a positive effect if the very poor beneficiaries can find work or are required to participate in a certain kind of public work activity.

The fiscal cost of the poverty alleviating grant transfer would be around 1.6% of GDP or 4.9% of public expenditure. This would mean increasing social spending by 4.9%. Alternatively, spending on other areas would have to be cut by the same proportion.

In either scenario, the findings show that this constraint might even be relaxed if the fiscal transfer enabled poor people to get work or if the cash transfer was conditional on recipients doing certain work.

In our view the benefits of this are massive in terms of extreme poverty eradication.

– South Africa’s fight against extreme poverty needs a new strategy – model shows how social grants could work
– https://theconversation.com/south-africas-fight-against-extreme-poverty-needs-a-new-strategy-model-shows-how-social-grants-could-work-241694

MIL OSI Africa –

January 25, 2025
MIL-OSI Economics: Thirty years of WTO technical assistance enhancing participation in world trade

Source: World Trade Organization

Since its establishment in 1995, the WTO has supported the participation of developing economies and least-developed countries (LDCs) in the multilateral trading system through the provision of technical assistance, helping beneficiaries develop their capacity to take full advantage of global trade. Over the past 30 years, more than 320,000 government officials have benefited from this assistance.

WTO technical assistance is a pivotal function of the organization and has evolved constantly to meet the emerging needs of the beneficiaries and a changing global environment, with an increasing focus on achieving measurable results.

Regional breakdown of activities

The WTO has conducted over 10,000 technical assistance activities for its eligible members and observers since 1995. In the initial three years following the organization’s establishment, these activities were carried out globally, without focusing on particular regions. However, starting in 1998, the focus shifted toward addressing the specific needs of individual members, either regionally or at the domestic level.

Africa has consistently received the largest share of technical assistance, averaging around 30 per cent of annual activities and rising as high as 40 per cent between 2005 and 2011 (see Chart 1). The Asia-Pacific region has benefited from roughly 20 per cent of activities. The Middle East, the Caribbean, and Central and Eastern Europe and Central Asia have received respectively between 5 per cent and 10 per cent annually. Latin America has also featured prominently in technical assistance programmes, receiving on average approximately 10 per cent of activities.

Developing online technical assistance

The launch in 2004 of the WTO technical assistance e-Learning platform, which was upgraded in 2022, was a game-changer in terms of delivering more accessible technical assistance and providing more cost-effective training. The platform gained additional importance during the COVID-19 pandemic, when travel restrictions prevented face-to-face activities.

Since 1995, over 110,000 government officials have been trained via the e-Learning platform, representing more than a third of the total number of beneficiaries (see Chart 2). The number of e‑Learning participants per year has surpassed the number of beneficiaries of face-to-face activities since 2014. More recently, a new approach, combining e‑Learning, face-to-face and virtual activities is gradually being introduced.

WTO technical assistance is primarily aimed at government officials, but its outreach extends to other key groups, including the academic community through the WTO Chairs Programme, as well as members of parliament, journalists, the private sector and non-governmental organizations.

Evolving pedagogical approaches

In 2010, a progressive learning strategy was introduced to improve the efficient use of resources in technical assistance delivery by focusing on advancing participants’ skills progressively. This progressive learning strategy structures technical assistance activities around three levels of learning — introductory, intermediate and advanced — and two training paths — for generalists and for specialists — with the aim of building beneficiaries’ capacity in a sustainable and cumulative manner.

The training methods used in the delivery of technical assistance programmes have also evolved over time. While the approach in 1995 was predominantly lecture-based, the proportion of lectures in the total training time has been somewhat reduced since 2013 in favour of face-to-face activities incorporating more hands-on sessions and interactive pedagogical techniques (see Chart 3). Recent years have seen the introduction of mentoring and coaching.

In addition to training programmes, the first internship programme was launched in 1998. Since then, four other similar programmes have been set up. These internship opportunities have collectively benefited more than 800 participants from over 100 WTO members and observers.

Priorities for technical assistance

WTO technical assistance is governed by biennial plans setting out priorities and strategies to ensure that the needs of beneficiaries are effectively met. In 2013, a results-based management approach was implemented to improve monitoring of all WTO technical assistance activities, from planning to evaluation. The approach aims to produce specific and measurable results to improve beneficiaries’ capacity to participate in the multilateral trading system.

Since its introduction, the proportion of technical assistance targets fully or partially met, such as successful completion of the courses, reached 91 per cent in 2018. This number declined between 2020 and 2022 due to the impact of the COVID-19 pandemic on technical assistance delivery but rose again in 2023 (see Chart 4).

WTO negotiations and implementation of WTO agreements: Some measurable results

Technical assistance has contributed to improving the capacity of developing WTO members and observers, and particularly LDCs, to engage effectively in WTO negotiations and participate in the work of WTO bodies. It has also been essential to economies wishing to join the WTO as they proceed through their WTO accession processes.

For several recent agreements negotiated at the WTO (e.g., the agreements on trade facilitation, fisheries subsidies and investment facilitation for development), provisions related to technical assistance for developing and LDC members have been crucial to concluding the negotiations. Over the past 10 years alone, thousands of government officials have benefited from technical assistance training programmes designed to strengthen their capacity to comply with obligations under WTO agreements and to benefit fully from these WTO agreements (see Chart 5).

The topics covered by technical assistance training programmes have continued to evolve over the years in line with the priorities defined by beneficiaries. This flexibility allows WTO technical assistance to take account of evolving issues on the WTO agenda, such as digital trade, the green economy and inclusive trade.

The impact of these efforts can be measured in different ways. For example, WTO technical assistance has striven through capacity-building to stimulate a sustained increase in the number of proposals or other documents covering a variety of topics under negotiation or discussion submitted to WTO bodies by technical assistance beneficiaries. These contributions have been invaluable in making trade deliberations and decision-making more inclusive.

Strengthening the capacity of technical assistance beneficiaries to fulfil their transparency obligations under various WTO agreements, including by notifying new trade measures, is among the performance targets for WTO technical assistance. As the overall volume of notification obligations has increased each year, technical assistance efforts have enabled beneficiaries not only to keep pace with their new notification obligations, but even to reduce their backlog progressively.

Financial commitments to WTO technical assistance

WTO technical assistance is financed both by the regular budget of the WTO Secretariat and by means of voluntary contributions made by WTO members to trust funds. A total of over CHF 500 million has been committed since 1995. Contributions from the regular budget reached their highest levels between 2002 and 2013 and have remained at CHF 4.5 million since then. Meanwhile, members’ voluntary contributions have steadily declined, dropping from CHF 23 million on average between 2007 and 2009 to CHF 6.3 million in 2023 (see Chart 6).

Sustained funding continues to be essential to responding efficiently to the evolving needs of members and securing the technical assistance necessary for an inclusive multilateral trading system.

MIL OSI Economics –

January 25, 2025
MIL-OSI Global: Do we need a European DARPA to cope with technological challenges in Europe?
Source: The Conversation – France – By David W. Versailles, Professor, strategic management and innovation management, co-director of PSB’s newPIC chair, PSB Paris School of Business

The headquarters of the Defense Advanced Research Projects Agency (DARPA) in Arlington, Virginia. ajay_suresh/Flickr, CC BY

The US Defense Advanced Research Projects Agency (DARPA) is often held as a model for driving technology advances. For decades, it has contributed to military and economic dominance by bridging the gap between military and civilian applications. European policymakers frequently reference DARPA in discussions, as outlined in the 2024 Draghi Report, but an EU equivalent has yet to materialise. To create such an agency, the governance and management of European innovation programmes would need drastic changes.

DARPA supports disruptive innovation

Founded in 1958, DARPA operates under the US Department of Defense (DoD) with a straightforward mission: to fund high-risk technological programmes that could lead to radical innovation. DARPA provides support throughout the innovation process, focusing on environments where new uses for technology must be invented or adapted. Although part of the DoD, DARPA funds projects that promise technological and economic superiority whether they align with current military priorities or not. DARPA has backed projects like ARPANET, the precursor to the internet, and the GPS. Today, DARPA shows interest in autonomous vehicles for urban areas and new missile technologies.

As part of its core mission, DARPA accepts high financial risks on exploration projects and makes long-term commitments to these projects. Many emblematic successes explain why DARPA is a reference agency. However, the list of failed projects is even longer. Both failures and successes feed the exploration process in emerging industrial sectors. They represent opportunities to learn together and build collective strategies in innovation ecosystems.

Five key principles of DARPA

DARPA’s success stems not just from its stability but from adhering to five organisational principles that allow it to explore deep tech in an open innovation context:
- Independence: DARPA operates independently from other military services, research & development centres and federal agencies, allowing it to explore options outside dominant research paradigms. While cooperation is possible, its decisions and directions are not influenced by other parts of the federal administration.
- Agility: The agency’s flat organisational structure minimises bureaucracy. Its independent decision-making processes and streamlined contracting allow it to pivot quickly, test new concepts and collaborate with academic or private sector partners. Agility also enables DARPA to test new exploration or experimentation methods that are often based on user-centric approaches. Potential military or civilian end-users are involved very early in innovation projects to discuss potential uses and applications. This approach has recently led DARPA to absorb the Strategic Capabilities Office (SCO), where officers from the different military services (Army, Air Force, Navy and Marines) and all military ranks test new technological solutions (from different maturity levels), fostering co-creation processes with military innovators and expanding the agency’s impact.
- Sponsorship: High-ranking executives within the DoD and other federal administrations (NASA, Department of Energy) endorse, but do not commission, DARPA’s projects. This sponsorship model increases a project’s potential impact and allows for swift adaptation if a project fails.
- Community building: DARPA creates innovation communities with a mix of diverse expertise. By bringing different perspectives together, it fosters collective strategies essential for disruptive innovation.
- Diverse leadership: Project managers come from a range of backgrounds, including civilian experts, military officers and private-sector professionals. All have demonstrated scientific and technological expertise and a solid capability to bridge dreams and foresight with reality. All have a perfect command of risk and complexity management. Managers serve three- to four-year terms focused on driving technological disruption and building new innovation ecosystems. Their diverse expertise sets DARPA apart from other federal agencies.
The challenge of a European DARPA

The Draghi Report on European competitiveness suggests that a European DARPA could help bridge technological gaps, reduce dependencies and accelerate the green transition. However, implementing this model would require a seismic shift in how European agencies operate. Creating a new agency would be ineffective without ensuring that all principles underlying the success of DARPA are implemented in Europe.

Even if Europe actively promotes deep tech and devotes significant budgets to it, European public policies and ways of working prevailing in national and European agencies are hardly consistent with the DARPA model. European agencies do not have much autonomy in their decisions about the exploration of new ventures or human resource management. They clearly demonstrate an outcome-focused orientation inconsistent with DARPA’s approach to risk.

Two main challenges

European agencies often lack the stable missions, scope and ambition seen at DARPA. The European Space Agency (ESA), the European Defence Agency (EDA) and Eurocontrol highlight the difficulties in developing cohesive, cross-border innovation ecosystems. A European DARPA would require a unified ambition among EU member states, a challenging feat given the institutional and geopolitical divides within Europe. The debates around the European Defence Fund illustrate how complex it is to reach consensus on shared objectives and funding.

Adopting DARPA’s five organisational principles would represent a cultural revolution for European agencies in relation to EU bureaucratic norms and the budgetary controls of individual member states. Implementing these changes would also disrupt the existing power balance between countries. The DARPA model is inconsistent with the European “fair returns” model that refers to proportionality rules between funding, research operations and then industrial repartition during the production phase between member states in each project. The DARPA model would only focus on existing competencies, excellence, risk-taking approaches and entrepreneurial mindsets.

Establishing a European DARPA would require a fundamental rethinking of public policy management in Europe. Its success would depend on whether European stakeholders are willing to adopt DARPA’s core principles, including its independence, agility and willingness to accept failure. Creating an agency is one thing; ensuring it adheres to the structures that make DARPA effective is another. The question remains: Is Europe ready for this transformation?

David W. Versailles has received funding from the French Ministry of Defence to develop this research.

Valérie Mérindol has received funding from the French Ministry of the Armed Forces to develop this research.

– ref. Do we need a European DARPA to cope with technological challenges in Europe? – https://theconversation.com/do-we-need-a-european-darpa-to-cope-with-technological-challenges-in-europe-240696
MIL OSI – Global Reports –
January 25, 2025
MIL-OSI Global: South Africa’s fight against extreme poverty needs a new strategy – model shows how social grants could work

Source: The Conversation – Africa – By Ramos Emmanuel Mabugu, Professor, Sol Plaatje University

South Africa has been struggling for decades to reduce poverty, inequality and unemployment and raise the rate of economic growth.

Economic growth has been slow since a recession in 2008. The annual growth rate averaged 1.1% between 2009 and 2021, slowing to 0.6% in 2023.

Unemployment remains stubbornly above 30%. It was 32.9% in the first quarter of 2024.

The country’s Gini coefficient, a measure of how income is distributed across the population, is estimated to be 0.63, one of the worst in the world. Poverty levels remain high too. A large number of people live in extreme poverty. According to Statistics South Africa, an estimated 40.0% of the population (or 25 million people) have a monthly consumption expenditure of below R9,096 (which is used as the lower-bound poverty line). And 55.5% of the population falls within the upper-bound poverty line, with monthly consumption expenditure of below R13,656.

This is despite government’s extensive spending on social assistance and other support mechanisms. In the 2023/24 fiscal year, there were 18.8 million social grant beneficiaries (about 35% of the population) with an annual cost to the fiscus of R217.1 billion (US$12.2 billion). This is expected to increase to R259.3 billion (US$14.6 billion) in 2026/27.

Social support also includes spending on health, education, social protection, community development and employment programmes which protect the most vulnerable groups. In addition, the government has extended the Social Relief of Distress Grant which was introduced during the COVID pandemic.

Based on my research as an economist for the last 20 years, I believe the government won’t make much progress in reducing unemployment, inequality and poverty unless it adopts a different strategy – one that targets extreme poverty reduction explicitly.

In a recent paper, colleagues and I identify key conditions for reducing extreme poverty through social transfers. We designed an economic simulation model to track the effect of increasing social grants to very poor South Africans to move them out of extreme poverty. This would be done by transferring an average of R4,020 (US$225) to every extremely poor South African. Based on our assumptions, about 25 million individuals would be eligible for this social transfer.

Moving about 25 million South Africans out of extreme poverty would cost on average US$6.5 billion per year. We argue that this cost is worth carrying. Our model also showed that, under certain conditions, poverty-alleviation social transfers can be good for the broader economy.

Additional benefits

We know that social grants are important instruments to fight poverty and inequality in South Africa. They can produce sizeable multiplier effects in the economy.

But we wanted to know more about how society benefits when a large share of the public budget is transferred to poor households.

What makes the model we built to explore this different is that we simulated the economic implications of a hypothetical South Africa with lower poverty and inequality outcomes. More precisely, we set the poverty headcount rate at the lower-bound poverty line at 5.0% under both unconstrained and constrained scenarios. This is the conventionally accepted definition of extreme poverty eradication.

The tool combined a macroeconomic model to project the economic impacts and a micro-simulation model to work out the poverty and inequality effects.

We tested a combination of policy options, including social grants, and their multiplier effects and funding implications. We considered two financing scenarios: one that involved a budget deficit and one which was budget-neutral.

Under a budget-neutral scenario, funding for interventions would be taken from budgets allocated for other purposes and put towards poverty alleviation instead.

Key findings

The model showed that the South African economy, measured by the level of gross domestic product (GDP), would grow faster (by 0.5 percentage points) when the transfer was designed to support poor people’s progressive engagement in economic participation rather than simply providing them with a basic cash grant. This can be done, for instance, by expanding and upgrading the current social assistance schemes such as the public work programmes. These have been shown to have positive outcomes for economic participation.

When people who receive income transfers are able to work, they contribute to a higher supply of goods and services as well as to higher demand.

The inflationary effects, in particular food price increases, are limited under this scenario.

On the other hand, GDP deteriorates by 1 percentage point when there is no requirement or condition for participation (when grant recipients still don’t have a job). Under this scenario food demand increases and related price increases contribute to reducing consumers’ purchasing power.

What needs to be done

Our model shows how poverty-alleviation social transfers can have positive economic outcomes under two conditions.

First, the expansion of the grant lifting approximately 25 million South Africans above the lower-bound poverty line of R9,606 has to be done under a budget-neutral funding arrangement.

Second, the transfer has to be made with a requirement that there is an increase in the economic participation of extremely poor beneficiaries. In other words, the grant only has a positive effect if the very poor beneficiaries can find work or are required to participate in a certain kind of public work activity.

The fiscal cost of the poverty alleviating grant transfer would be around 1.6% of GDP or 4.9% of public expenditure. This would mean increasing social spending by 4.9%. Alternatively, spending on other areas would have to be cut by the same proportion.

In either scenario, the findings show that this constraint might even be relaxed if the fiscal transfer enabled poor people to get work or if the cash transfer was conditional on recipients doing certain work.

In our view the benefits of this are massive in terms of extreme poverty eradication.

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

– ref. South Africa’s fight against extreme poverty needs a new strategy – model shows how social grants could work – https://theconversation.com/south-africas-fight-against-extreme-poverty-needs-a-new-strategy-model-shows-how-social-grants-could-work-241694

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Europe: Written question – Urgent measures to protect Apulia’s monumental olive trees threatened by Xylella fastidiosa – E-002195/2024
Source: European Parliament
21.10.2024

Question for written answer E-002195/2024
to the Commission
Rule 144
Valentina Palmisano (The Left), Mario Furore (The Left)

The bacteria Xylella fastidiosa is devastating Apulia’s traditional olive groves; already more than 21 million olive trees have been lost. Among the most endangered specimens are around 350 000 monumental olive trees, some of which are thousands of years old, which represent an incomparable source of wealth not only for Italy but also for Europe as a whole. Their loss would cause irreparable damage to the environment, the economy and Europe’s cultural heritage. Although early grafting has proven to be an effective solution for preserving these trees, significant financial support will be needed we wish to carry it out.

Given the existing EU legislation, such as Regulation (EU) No 1143/2014 on Invasive Alien Species and Directive (EU) 2019/782 on harmonised risk indicators, coordinated action is needed to address this emergency.

In view of the above:

1.What action does the Commission intend to take, under Regulation (EU) No 1143/2014 and Directive (EU) 2019/782, to combat the spread of Xylella and protect Puglia’s monumental olive trees?

2.Is there any special or emergency EU funding to support local, regional and national initiatives to conserve these olive trees, with particular emphasis on early grafting?

3.Does the Commission intend to launch a Europe-wide research and innovation plan to find lasting solutions to deal with Xylella fastidiosa?

Submitted: 21.10.2024
Last updated: 30 October 2024
MIL OSI Europe News –
January 25, 2025
MIL-OSI Europe: Czech trains to be upgraded with €300 million EIB loan to national railway operator

Source: European Investment Bank

The European Investment Bank (EIB) is lending CZK 7.61 billion Czech korunas (€300 million) to the Czech Republic’s national railway operator, České dráhy, to buy new train carriages and locomotives as well as upgrade existing ones. České dráhy will use the loan to purchase 180 passenger coaches and 20 electric locomotives. The company will also retrofit 219 existing coaches and locomotives with modern technology known as the European Rail Traffic Management System (ERTMS). The improvements, due to be completed by the end of 2028, will benefit Czech cohesion regions and cross-border connections.

“This financing exemplifies our unwavering commitment to sustainable transport,” said EIB Vice-President Kyriacos Kakouris. “By modernising the rolling stock of České dráhy, we are not only enhancing the safety and efficiency of rail services but also advancing the EU’s climate-action goals.”

The loan builds on years of EIB- České dráhy cooperation to upgrade infrastructure and rolling stock. Last year alone, the EIB committed €880 million to Czech rail projects.

“The funds from the European Investment Bank help us to invest into the modernisation of our rolling stock. We are using the funds obtained in this way primarily for improvement of the quality of long-distance trains, including the acquisition of the most modern ComfortJet trainsets, which will run on the lines interconnecting Prague with Germany, Austria, Slovakia or Hungary, as well as for equipment of other vehicles with the on-board part of the European Train Control System (ETCS). Thanks to these investments, we will offer our passengers more comfortable, more convenient, and safer trains and we will further strengthen the competitive edge of the modern and environment-friendly railway transport,” said Lukáš Svoboda, Member of the Board of Directors and Deputy Director General of ČD for Economics and Purchasing.

The new and retrofitted rolling stock will improve service reliability, shorten journey times, and lower maintenance costs.

The use of ERTMS will enhance safety and interoperability across the European rail network. The fleet to be retrofitted with ERTMS is expected to be operated for regional and long-distance connections under public-service contracts mainly in the Czech Republic and to a limited extent in neighbouring countries.

The environmental benefits include reductions in emissions and energy consumption, contributing to the EU’s climate action goals. The project will also support economic and social cohesion by improving mobility for people primarily in the country’s less-developed regions and by strengthening connections to other EU countries.

Furthermore, the initiative is projected to create around 160 permanent jobs, primarily for train drivers, accompanying staff and maintenance personnel.

The EIB loan complements grants under the Connecting Europe Facility (CEF). The CEF is a key EU funding instrument designed to promote growth, jobs, and competitiveness through targeted infrastructure investments.

Background information

About the EIB

The European Investment Bank (EIB) is the long-term lending institution of the European Union. It finances sound investments that contribute to EU policy goals and works closely with other EU institutions to advance shared policy priorities, such as equitable growth and a just transition to climate neutrality. In 2023 alone, the EIB Group provided €1.88 billion for Czech projects. We are significantly investing in the rail sector, with close to €1 billion dedicated to rail projects last year. Since its inception, the EIB has provided substantial financing to the Czech Republic, contributing to the development of its infrastructure and economy.

About České dráhy, a.s

The joint stock company “České dráhy” plays the role of the national carrier in the Czech Republic and on the basis of orders from the state and regions it ensures basic transport services for the state. During recent years it was possible to register a significant rejuvenation of the rolling stock, in both regional and long-distance transport sectors. In its effort of making railway transport more attractive and increasing its competitiveness on the open market the firm has invested dozens of billions of Czech crowns in purchases and modernisation of vehicles.

MIL OSI Europe News –

January 25, 2025
MIL-OSI Europe: Written question – Removing barriers to the digitalisation of public services – E-002201/2024
Source: European Parliament
21.10.2024

Question for written answer E-002201/2024
to the Commission
Rule 144
Piotr Müller (ECR)

In connection with investment in digital infrastructure and the provision of universal access to very fast internet, which is crucial for the digitalisation of public services in the European Union, please could the Commission answer the following questions:

1.What action is the Commission taking to remove investment barriers hampering the development of broadband infrastructure, especially in rural areas and white spots, which are delaying the digitalisation of public services?

2.Is the Commission considering new legislative initiatives or financial support programmes which could help Member States accelerate the deployment of digital public services and remove barriers concerning digital infrastructure, such as difficulties in accessing real estate or infrastructure?

3.What specific action is the Commission planning to ensure that the digitalisation of public services will be carried out evenly across all Member States, irrespective of existing legal or technical barriers?

Investment in digitalisation and broadband is crucial for the development of modern public services and it is therefore important to remove existing obstacles and speed up the process.

Submitted: 21.10.2024
Last updated: 30 October 2024
MIL OSI Europe News –
January 25, 2025
MIL-OSI United Kingdom: Consultation: East-West Cycle Link Scheme on Queen Street and Avenham Lane
Source: City of Preston

Preston City Council has launched a consultation on the proposed improvement scheme on Queen Street and Avenham Lane, which forms part of the ‘Active Preston’ project.

The proposals for the East-West cycle link scheme comprise:
- The installation of 700m of new two-way (bi-directional) segregated cycle way on Avenham Lane and Queen Street. These improvements include the reduction of the green verge to create a new separate cycle way
- Environmental improvements such as tree planting on the existing grass verge.
- Crossing points for pedestrians and cyclists on Avenham Lane and Queen Street.
The improvement works are planned to start onsite in Spring 2025.

Councillor Valerie Wise, Cabinet Member for Community Wealth Building on Preston City Council, said:

“We are dedicated to delivering our vision of ‘a healthier, more liveable, and sustainably connected city’ through the ‘Active Preston’ programme. The East-West cycle scheme is a vital part of this effort, and we invite feedback from the public and local businesses through the consultation process.

This project will make Preston more accessible for cyclists by providing a safe, dedicated path into the city centre.”

Aims and benefits of the scheme include:
- The ‘Active Preston’ project aims to create a safer and healthier environment for pedestrians and cyclists, supporting greener and sustainable travel options.
- It will create new and improved ways of travelling across the city by a network of safer walking and cycling connections, improved quality of public spaces and safer, more user-friendly linkages across the city.
- These improvements on Avenham Lane/Queen Street will bridge a key gap in the east-west cycling route to help people to walk or cycle for local trips, such as going to work, college, leisure or shop.
- Connecting west via Preston Railway Station and east to the colleges, the new route will add to existing cycling work and the ‘Quietway’ cycle link to Waverley Park and links to the Guild Wheel, Avenham Park and the routes across the River Ribble via the proposed new Tram Bridge (Ribble Bridge crossing).
The scheme supports the Council’s Community Wealth Building commitment to create a resilient and inclusive economy, improving the local environment, better air quality and encouraging active travel.

The scheme is being delivered under the Active Preston Programme, with funding provided by the UK Government.

Drop-in Event

An informal drop in event has been arranged for residents and local businesses to meet the Project Team, view the plans and ask any questions about the scheme.

Date: Wednesday, 6 November 2024

Time: 4pm-7pm

Venue: Room B, Town Hall, Lancaster Road, Preston, PR1 2RL

Your Views

The proposals are shown on the East-West Cycle Link Scheme – Avenham Lane / Queen Street page.

If you have any comments regarding the proposed works on Avenham Lane and Queen Street, please submit them before the deadline of Friday 15 November 2024.

You can submit your views through our online form, or alternatively, email invest@preston.gov.uk or complete our comments form and return to Preston Town Hall, Lancaster Road, Preston, PR1 2RL.

Submit your views on the scheme

A letter detailing the plans for the proposed new scheme have been sent direct to residents and businesses within the area of the proposed new scheme.

The proposals can also be viewed online and in an exhibition in the Preston Town Hall reception.
MIL OSI United Kingdom –
January 25, 2025
MIL-OSI United Kingdom: Life and the law explored in new podcast series The University of Aberdeen’s School of Law has launched a new podcast series looking at a range of topical issues viewed through a legal lens.

Source: University of Aberdeen

The first four episodes are available nowThe University of Aberdeen’s School of Law has launched a new podcast series looking at a range of topical issues viewed through a legal lens.
In each episode hosts Neil Weightman and Lauren Mitchell will chat to law lecturers to get their take on a variety of topics from energy law and cryptocurrency to freedom of speech and the impact of copyright on the music industry.
Across the 10-part series, they will use real-world cases to bring each episode’s theme to life, while keeping the topics interesting and fun for a broad audience ranging from undergraduates, postgraduates and members of the public.
“There isn’t a topic in existence that the law doesn’t bump up against, which gives us endless scope to offer insights and perspective on some of the key challenges facing society today,” said Professor Greg Gordon, Head of the School of Law.
“These podcasts will shine a light on the breadth of expertise that exists within the School and the scope of the research, policy affairs and public-facing issues that we play an active part in tackling.
“Tailored towards a wide audience, we hope they will be both interesting and fun to listen to.”
The first four episodes are available now across platforms including Spotify, Apple Podcasts and Amazon Music, as well as the University website, with further episodes to come in the new year.
The series includes:

There isn’t a topic in existence that the law doesn’t bump up against, which gives us endless scope to offer insights and perspective on some of the key challenges facing society today.” Professor Greg Gordon, Head of the School of Law

Episode 1: Anti-SLAPP Laws: Protecting the Public
Dr Francesca Farrington and Professor Justin Borg-Barthet discuss anti-SLAPP (Strategic Lawsuits Against Public Participation) laws and their crucial role in safeguarding freedom of speech. SLAPPs are lawsuits aimed at silencing critics, such as journalists, activists, and human rights defenders, by burdening them with costly legal battles.
Episode 2: Crypto Assets, Blockchain, and the Law
Delve into the legal dimensions of crypto assets and blockchain technology with Dr Alisdair MacPherson and Professor Burcu Yüksel Ripley. They discuss how crypto assets challenge traditional legal concepts of property, regulation, and financial transactions. The conversation covers the regulatory gaps, the treatment of crypto assets under English and Scots law, and the broader legal implications of decentralised systems like blockchain.
Episode 3: Copyright Law: Taylor Swift and the Music Industry
Professor Abbe Brown, Dr Titilayo Adebola and Professor Greg Gordon discuss the complex legal landscape of copyright law, with the Taylor Swift case as a central example. The episode explores how copyright operates as a property right, its territorial nature, and the significant role of contracts in determining artists’ control over their creations.
Episode 4: Energy Law and the Transition to a Low-Carbon Future
Professor Greg Gordon and Dr Daria Shapovalova discuss the legal challenges surrounding the energy transition from fossil fuels to low-carbon sources. The episode explores the critical role that law and policy play in decarbonising energy systems, securing supply and addressing energy poverty.

MIL OSI United Kingdom –

January 25, 2025
MIL-OSI United Kingdom: Offshore trade unionist and community archaeologist to be recognised with honorary degrees A trade unionist and offshore health and safety campaigner and a community archaeologist and will be recognised with honorary degrees from the University of Aberdeen.

Source: University of Aberdeen

Jake Molloy (left) and Colin Shepherd (right)A trade unionist and offshore health and safety campaigner and a community archaeologist and will be recognised with honorary degrees from the University of Aberdeen.
Jake Molloy and Colin Shepherd will receive Master of the University (MUniv) awards during the 2024 Winter graduations.
Jake Molloy is a trade unionist and offshore health and safety campaigner. Jake spent almost two decades working offshore in the North Sea’s oil and gas industry, an experience which led him to actively campaign for improvements to health and safety in the offshore industry.
In 1997, he assumed the role of General Secretary of the Offshore Industry Liaison Committee (OILC), an independent trade union for offshore workers. OILC was founded in 1989 in response to a series of high-profile incidents, including the Piper Alpha disaster.
After merging with the RMT Union in 2008, he became the RMT Regional Organiser with responsibility for all offshore energy activity and has served on a number of industry forums including the Oil Spill Prevention Recovery Advisory Group (OSPRAG) which reviewed the impact of the Deepwater Horizon disaster, the Helicopter Safety Steering Group (HSSG) looking into helicopter safety in the sector after a number of fatal accidents, the Step Change Leadership Group which engages workers in offshore health, safety and environmental matters, and the Energy Jobs Task Force, and the Strategic Leadership Group, for Scottish Government as well as the UK Government’s North Sea Transition group.
Since 2022, he has served as a Commissioner on the Scottish Government’s Just Transition Commission, an independent advisory body which provides advice and scrutiny on how to deliver Scotland’s just transition to a low carbon economy. In 2023, Jake retired from the RMT Union after a twenty-five-year career as a senior trade union official but continues to participate in the climate change debate, with a particular interest in how to deliver a just transition for workers and society.
Colin, who is also an honorary research fellow at the University, has been a leading figure in the Bennachie Landscapes Project, jointly developed by the Bailies of Bennachie, a community group dedicated to the conservation and interpretation of the hill of Bennachie, and the University of Aberdeen, across a twelve-year period.
He holds a PhD from the University of Exeter which examined the role of iconography in the development of early medieval kingship in North-west Europe, and his research interests focus on landscape and the changing patterns of ideological thought and its effects upon socio-economic change in the later middle ages.
Colin has authored, co-authored and edited numerous publications on the history and archaeology of North-east Scotland and his work has helped to extend our understanding of the history and archaeology of North-east Scotland.
His work has also nurtured a team of community researchers working on the historic and current management of the landscape of North-east Scotland.
Professor George Boyne, Principal and Vice-Chancellor of the University of Aberdeen said: “Master of the University degrees are awarded to those who have made important contributions to the success of the University, to the local community, and to the region.
“Both Jake Molloy and Colin Shepherd exemplify this, and their achievements will inspire our graduands as they begin their own career journeys.
“We look forward to presenting them with their honorary degrees at our Winter Graduation ceremonies.”
Jake Molloy will receive his award on Monday November 25 at 10.30am while Colin Shepherd’s will be presented during the morning ceremony on Tuesday November 26.

MIL OSI United Kingdom –

January 25, 2025
MIL-OSI United Kingdom: June Labour Market Report published30 October 2024 Statistics Jersey have today published the June 2024 Labour Market report. This report is published every six months and covers key aspects of the job market for both the private and public sector.… Read more
Source: Channel Islands – Jersey

30 October 2024

Statistics Jersey have today published the June 2024 Labour Market report. This report is published every six months and covers key aspects of the job market for both the private and public sector.

Summary for the Labour Market Report in June 2024
The total number of jobs was 65,290. This was made up of 55,590 jobs in the private sector and 9,710 jobs in the public sector. The number of jobs, in both private and public sectors, were at their highest recorded to date.

There was an annual increase of 510 jobs (0.8%) since June 2023.

In the private sector there was an annual increase of 70 jobs (0.1%). There was a decrease of 70 jobs filled by entitled or entitled for work individuals since June 2023, which was more than offset by increases in jobs filled by other residential statuses.

In the public sector there was an annual increase of 440 jobs (4.7%). This increase was driven by an increase of 450 in the number of Government of Jersey (GOJ) core jobs (permanent and fixed term employees). The departments with the largest annual increase in core staff were Children, Young People, Education and Skills (up 190) and Health and Community Services (up 150).

In the private sector at the sectoral level

Three sectors saw notable annual increases in jobs:

130 jobs in private education, health and other services (up 1.5%)

120 jobs in financial and legal activities (up 0.9%)

100 jobs in miscellaneous business activities (up 1.6%)

Three sectors recorded notable annual decreases in jobs:

160 jobs in construction and quarrying (down 2.5%)

100 jobs in hotels, restaurants and bars (down 1.5%)

80 jobs in wholesale and retail (down 1.1%)

Over the last five years (from June 2019 to June 2024)

There was an increase of 2,820 all sector jobs (up 4.5%) from June 2019.

The total number of private sector jobs increased over five years by 930 (up 1.7%).

Public sector jobs increased by 1,890 from June 2019 to June 2024 (up 24.2%), which has brought the proportion of workforce jobs in Government of Jersey core jobs (13.2%) above the average for the last two decades (12.1%).
Labour Market June 2024
MIL OSI United Kingdom –
January 25, 2025
MIL-OSI United Kingdom: Building partnerships to protect the UK from cyber crime

Source: United Kingdom – Government Statements

Security Minister, Dan Jarvis, delivered a speech at the PREDICT 2024 Conference on 22 October.

Delivered on:

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

Thank you and good morning.

It’s a great privilege to be with you at PREDICT 2024 today taking place right in the very heart of London’s thriving knowledge quarter.

I’d like at the outset to take this opportunity to thank Recorded Future for your hard work in bringing us together over these 2 days.

Not least because I think that forums like these provide us with a crucial platform to connect, share ideas and to learn from one another.

When our world feels increasingly less certain and increasingly more volatile, it is reassuring to know that last night, as with every night, many of you here today, made it safer.

Across the UK, millions of phones charging next to our beds were patched whilst we were sleeping – better protecting our messages, our photos and our personal information, frankly, our entire lives these days from constantly mutating cyber threats.

For ministers like me, there will be 2, maybe even 3, phones next to our beds, but add them to millions more devices and their networks that our world now relies on to function.

The role that the global community of defenders plays in disrupting and defeating cyber-crime is more than just vital – it’s existential.

So, I want to say this morning that this country, our country, is enormously in the debt of many of you in this room who strive, day in, day out to protect us all.

Your work, your dedication and your accomplishments have never been more important.

Yet, it may be the case, that they have never been more taken for granted, because most will only notice, could only ever notice, when things go wrong.

Who knew what Synnovis were and the vital service they provide to the NHS until ransomware criminals struck?

Outside of tech circles, who knew the name Crowdstrike before a wayward patch ground international aviation to a halt?

How many of the millions of Australian or US citizens, who relied on their services, could have identified the logos of Colonial Pipeline or Medibank before they were attacked? So today, I want to focus on this unnoticed and often unappreciated reality.

I want to talk about the need for constant vigilance in defending our digital world and how we can do so better and together.

Now, as I’ve already touched upon, our international rules-based system is being severely tested and technological advances continue to evolve at pace.

Advances in technology bring both risks and opportunities for us all.

We have all moved our lives online. In this respect, the UK stands out from other countries in its digital development.

Indeed, it was national news when the card machine stopped working across Greggs’ stores one morning in March this year. Alongside paying for sausage rolls with our smart watches, there are opportunities to harness technology’s vast potential in areas such as healthcare, education and, of course, security.

But we must also address the evolving risks and maintain a posture of constant vigilance, including by keeping up with developments in artificial intelligence, which show unstoppable momentum.

Emerging technologies are changing the nature of diplomacy, trade and competition, driving it online and thus onto our devices and into our pockets.

The much bigger global IT outage in July demonstrated our near universal dependence on technology.

For businesses, physical premises are interchangeable with digital platforms when it comes to delivering services and making money.

Beyond AI, quantum technologies, future, telecoms, connected devices, robotics and drones are rapidly reshaping the landscape.

Put simply, cyber security is national security.

Therefore, cyber incidents such as ransomware attacks, network intrusions for cyber espionage or IP theft have significant and complex consequences.

When organisations are targeted, there can be knock on effects on the UK’s economic resilience.

Data is becoming an ever more valuable commodity. Last year, the UK saw over a million reported Computer Misuse Act offences, most of which sort out personal data.

These crimes are estimated to cost the UK economy billions of pounds every year.

When public services or critical national infrastructure are targeted, there are implications for our national security.

Criminals exploit this and are early adopters of the latest technology.

The UK, and the international response must keep pace, and where possible, develop a competitive edge to mitigate these risks.

If misused, artificial intelligence and machine learning can intensify the impact and scale of cyber-crime.

Criminals are offering exploitation kits and hacking as a service, making it systems and data compromise increasingly accessible network attack surfaces and opportunities to target third party suppliers are expanding exponentially.

Unauthorised computer access can lead to a wide range of frauds, theft, extortion, and can also facilitate stalking, domestic abuse and harassment.

These crimes cause significant harm to the UK, destroying businesses and ruining lives.

That’s why the government is reviewing the threats that we face and addressing priority cyber threats like ransomware, which is the most acute cyber threat facing most UK organisations.

It’s also why we are making progress on counter ransomware, and the UK continues to lead international efforts, including through the counter ransomware initiative and by sanctioning 36 cyber-criminal actors since 2021, including ransomware actors like Evil Corps, the clue is in the name, LockBit and Trickbot.

This year, the UK’s National Crime Agency also led a global effort to disrupt LockBit, the world’s most prolific ransomware group.

Now we are increasingly seeing the impactful effects of combining law enforcement efforts, disruptive operations and interventions like sanctions that de-anonymise, disrupt and deter cyber criminals through a whole government response.

But there is much more that we need to do.

We are considering all options available to us, including reviewing the Computer Misuse Act to strengthen our response to the threat.

But it’s not only criminals who use cyber to target the UK.

Our intelligence agencies and international partners work around the clock to expose and counter malicious activities that threaten our interests.

As Mi5 Director General Ken McCallum set out earlier this month, autocratic states persist in their efforts to undermine UK security.

States, including Russia and China, are investing in advanced cyber operations, and it is a national security priority to detect, disrupt and deter this activity.

Russia is home to one of the most expansive and destructive cyber-criminal communities in the world, which targets global businesses with ransomware and other forms of cyber-attack for profit.

The Kremlin deliberately turns a blind eye to the activities of many cyber criminals within its jurisdiction, choosing not to prosecute, as long as their crimes serve the regime’s interests.

But the Russian state also has extensive cyber capabilities of its own.

The National Cyber Security Centre (NCSC), has confirmed Russian attempts to target key sectors of the British economy, including the UK media, telecommunications, political and democratic institutions and energy infrastructure.

We will not tolerate Russian cyber interference and will continue to work with our international allies to expose Russian cyber aggression and hold the Kremlin to account for its malign activity.

Compared to Russia, China presents a more complex and significant long term cyber challenge, and there have been a number of high-profile China linked cyber-attacks over the past few years, varying in intensity and sophistication.

We will continue to engage with China, and we want to see a constructive debate aimed at making cyberspace a safer place to do business for companies and consumers.

That is why we regularly raise issues with China, and we will keep calling out all state and non-state actors for malicious activity when it is necessary to do so.

For instance, the UK supported by global allies, publicly attributed and sanctioned Chinese state-affiliated actors responsible for malicious cyber campaigns targeting the UK democratic institutions.

Working alongside our Five Eyes partners and others, the UK continues to strengthen our defences, safeguard our institutions and protect sensitive data from these ever-growing threats.

NCSC, combining its cyber expertise with unique intelligence insights, remains decisive in ensuring that the UK stays ahead of these state sponsored threats.

As this year is a year of elections around the world with around 4 billion people going to vote, and we know that malign actors target the freedoms and democratic processes which are integral to our way of life.

Foreign states and domestic actors use disinformation and harmful material online in a bid to undermine our democratic institutions.

The recent general election here in the UK was a prime opportunity for our adversaries to mount a major information attack on the UK in an attempt to affect the outcome.

Government planned for such an incident, but fortunately, this did not happen.

Although attempts at interference do not stop with electoral events, and we are alive to this ever present-threat to our democracy, especially the use of disinformation.

Vigilance and effective cross government working is especially needed as AI technology threatens to exacerbate existing information threats, enabling harmful messages to spread at speed and scale, and making disinformation more difficult to spot.

We are particularly concerned that a steady stream of disinformation and harmful material online can lead to a slow poisoning of our public discourse that attempts to divide our communities.

We saw some of this play out during the summer with false information and inflammatory content spread rapidly online, contributing to violent disorder in some parts of our country.

These are complex issues which many democracies face, and that’s why we are working with international allies to share learning and expertise and with social media companies to hold them accountable for keeping online users safe.

The defending democracy Task Force is at the heart of much of this work. It is an enduring function that coordinates government’s response to these ever-present threats to our democracy.

The first duty of any government is to protect the nation and in an ever-evolving world with new and complex threats, collaborative working across government, law enforcement, industry and civil society is absolutely fundamental to driving innovative approaches to the UK’s most pressing challenges.

This can only be achieved if our work to keep our country safe and secure goes hand in hand with our plan to improve UK prosperity.

Without national security, we cannot kick start economic growth, become a clean energy superpower, take back our streets, break down barriers to opportunity, or build an NHS fit for the future.

Our work in National Security provides the foundation to enable these missions.

Breaking down barriers to opportunity enhances the protective factors for those vulnerable to radicalisation, mis and disinformation, or serious and organised crime. We continuously seek to support and strengthen our national security machinery.

The government is reviewing several policy areas, especially in light of the spending review. The perspectives of the private sector, will be pivotal in these decisions and discussions.

Indeed, collaboration between the government, the private, and third sectors are key to addressing national security risks.

By building an enduring and balanced partnership, we can work together to strengthen the UK’s response and resilience.

The NCSC leads the industry 100 i 100 initiative which enables diverse minds to challenge thinking and tackle systemic vulnerabilities in cyber security.

The cyber insurance industry is another key partner and is crucial in the cyber threat mitigation ecosystem, providing protection from cyber based risks such as ransomware and hacking.

In May of this year, 3 major UK insurance bodies, the Association of British Insurers, the British Insurers Brokers Association and the International Underwriting Association, united with the NCSC to publish joint guidance. This guidance, aimed at 14 cyber-criminals’ profits by reducing the number of ransoms paid by UK ransomware victims, was a powerful show of collaborative government and industry working.

Since then, and with continued partnership from the three insurance bodies, this guidance has since been internationalised through the Counter Ransomware Initiative, with 40 countries and 8 global insurance bodies signing up.

The government will continue to work closely with industry researchers, academics and the wider public sector to collectively address risks to our national security.

The work done across these sectors by organisations like Recorded Future, and those here in the room today, are vital to securing the UK’s National Security.

To conclude, the threats that we face are evolving rapidly, but so too are the opportunities for innovation and collaboration.

The challenge for all of us, whatever our sector or discipline, is to stay ahead of the threats whilst maximising the opportunities.

That is why events like PREDICT 2024 are so important, and it is why we must tackle this critical mission together in a spirit of true partnership and collaboration.

Thank you.

Updates to this page

Published 30 October 2024

MIL OSI United Kingdom –

January 25, 2025
MIL-OSI United Kingdom: Liverpool unwraps a brand new markets offer this Christmas
Source: City of Liverpool

Shoppers will be spoilt for choice this festive season as Liverpool welcomes some brand new markets, as well as the return of some old favourites, in the run up to Christmas.

Liverpool City Council’s Markets team have been busy elves working behind the scenes to schedule a brand new offer to meet the Christmas demand.

New for 2024:
- Sunday 3 November – nearly 100 traders will take over St George’s Hall this Sunday for the first Winter Artisan Market with stalls filled with beautiful artwork, jewellery, candles, and lots of festive goodies perfect for Christmas gifts. Visitors can enjoy free entry from 10am to 4.30pm with live music performances taking place throughout the day, and outside the Hall In addition. There will be a food zone, the perfect place to take a break from browsing, with a variety of hot food vendors.
- Sunday 17 and 24 November, and Sunday 15 December – following the huge success of the summer’s weekly Stanley Park Market which began in July, there will be a festive special starting next month. Operating between 10am and 4pm, there will be a whole host of returning traders, along with some special Christmas programmes for all the family to enjoy.
- Saturday 30 November – Basnett Street in the city centre (next to T.K. Maxx) will host to an artisan and creator’s market with traders specialising in handmade products perfect for gifting. If it’s a success, the team will look to hold the market on a more regular basis.
- Fridays in December – Liverpool City Council has teamed up with Exchange Flags to create a twilight offer on 6, 13 and 20 December from 4-8pm. Expect street performers, live music, food and drink, as well as an array of artisan traders.
It’s not just about the city centre – the much-loved farmers and craft markets at Lark Lane, Woolton Village and Allerton Road will be taking place hosting all the usual favourite traders promoting their Christmas offer.

And not forgetting weekly market every Saturday at Greatie (Great Homer Street Market), this year there will also be 2 Sunday openings the 1^st and 8^th December for the popular market, alongside the Friday market at Garston, and the twice weekly Tuebrook market – all the perfect places to shop local this Christmas season.

Find out more at the City Council’s dedicated markets pages.

Liverpool Christmas Market, courtesy of Clarke Events, will also return to St George’s Hall plateau from November 14 to December 24, opening every day from 11am to 10pm. Building in popularity year-on-year, visitors can enjoy a wide variety of stalls selling food, drinks, gifts and crafts, as well as live entertainment, rides and a Ferris wheel. Head to Clarke’s website for all the latest information.

Liverpool City Council’s Cabinet Member for Culture, Health and Wellbeing, Councillor Harry Doyle, said:

“We must all be on the good list this year as our Markets team are spoiling us with so many incredible festive options!

“This feels like a real celebration of local makers, and we’ll have so much choice when it comes to discovering that perfect gift or savouring some seasonal delights.

“We’ve listened to what people have told us they want and have responded – for example, the success of the summer Stanley Park Market exceeded all our expectations, and the feedback from the local community is that they want it to continue in one form or another, and this is a great starting point.

“Liverpool is going to be the perfect destination to embrace Christmas and we look forward to welcoming the thousands of visitors and helping them get into the festive spirit.”

Local market trader Shirley Brett, said:

“This programme really feels like it’s putting Liverpool’s markets back on the map.

“Everybody loves a bargain and in this current financial environment money’s tight for everybody, and here at Liverpool Markets we have bargains galore!

“And not only can you do your weekly shop, you can bag some Christmas goodies, spend time with family and friends and soak of the Christmassy atmosphere.
“As a trader I would like to take this opportunity to thank everybody who’s come down this year and supported all the small local businesses – it’s been great getting to know you all and we look forward to seeing you all soon.”
MIL OSI United Kingdom –
January 25, 2025

MIL-OSI Economics: W&T Offshore Announces Timing of Third Quarter 2024 Earnings Release and Conference Call

Source: W & T Offshore Inc

Headline: W&T Offshore Announces Timing of Third Quarter 2024 Earnings Release and Conference Call

HOUSTON, Oct. 30, 2024 (GLOBE NEWSWIRE) — W&T Offshore, Inc. (NYSE: WTI) (the “Company”) today announced the timing of its third quarter 2024 earnings release and conference call.

The Company said it will issue its third quarter 2024 earnings release on Thursday, November 7, 2024, after the close of trading on the NYSE and host a conference call to discuss financial and operational results on Friday morning, November 8, 2024, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time.)

Interested parties may participate by dialing (844) 739-3797. International parties may dial (412) 317-5713. Participants should request to be joined to the “W&T Offshore, Inc. Conference Call.” This call will also be webcast and available on W&T Offshore’s website at www.wtoffshore.com under “Investors.” An audio replay will be available on the Company’s website following the call.

About W&T Offshore

W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and has grown through acquisitions, exploration and development. As of June 30, 2024, the Company had working interests in 63 fields in federal and state waters (which include 55 fields in federal waters and eight in state waters). The Company has under lease approximately 678,100 gross acres (520,400 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 519,000 gross acres on the conventional shelf, approximately 153,500 gross acres in the deepwater and 5,600 gross acres in Alabama state waters. A majority of the Company’s daily production is derived from wells it operates. For more information on W&T, please visit the Company’s website at www.wtoffshore.com.


CONTACTS:	Al Petrie	Sameer Parasnis
	Investor Relations Coordinator	Executive VP and CFO
	investorrelations@wtoffshore.com	sparasnis@wtoffshore.com
	713-297-8024	713-513-8654

This press release was published by a CLEAR® Verified individual.

Source: W&T Offshore, Inc.

Released October 30, 2024

MIL OSI Economics –

January 25, 2025

MIL-OSI USA: Does Daylight Saving Time Actually Save? Research Shows Costs Outweigh Benefits

Source: US State of Connecticut

As we prepare to fall back once again this year on Sunday, Nov. 3, debates over the costs and benefits of Daylight Saving Time are sure to reemerge.

A bill to permanently end the practice passed in the Senate in 2022 and awaits further movement through the House of Representatives, indicating the argument to overturn the century-old policy is heating up.

Shinsuke Tanaka, assistant professor and director of graduate studies in the Department of Agricultural and Resource Economics, has published work that helps inform this policy debate with evidence about the costs of Daylight Saving Time (DST).

When Tanaka, who is originally from Japan, first came to the U.S., Daylight Saving Time felt like a shock, as Japan does not engage in the practice.

An expert in environmental and health economics, Tanaka decided to look into the costs and benefits of DST. He found that many other researchers had been questioning the economic, environmental, and health impacts as well.

DST was first implemented during World War I as an energy saving policy. However, recent studies have found that people actually consume more energy during DST, because with more daylight, people run air conditioners for longer, even if their lights aren’t on for as long.

“The cooling consumes more energy, and the studies have shown that the energy consumption overall increases during Daylight Saving Time,” Tanaka says.

People also go out more often during the extended daylight, usually in cars, which increases carbon emissions.

For his research, Tanaka focuses on Indiana, because until 2006, only some counties in Indiana participated in Daylight Saving Time. This means Tanaka can look at data from before 2006 and after and get a clear picture of any changes that may be related to the start of participating in the policy.

Shinsuke Tanaka, assistant professor of agricultural and resource economics. (Contributed photo)

“This creates the change in policy,” Tanaka says. “So, I can see what happened without DST in the previous year, and then I can see what happened to some outcome after they adopted DST.”

Tanaka focuses on heart attacks, one of the most serious health impacts related to DST. Previous studies demonstrated that the number of heart attacks increases after the time change in spring, when clocks move forward one hour.

This may be because people lose an hour of sleep in the spring transition, which has many negative health impacts. Our internal clocks also become misaligned with the external environment.

“There is no clear mechanism in the medical literature,” Tanaka says. “But the evidence shows that sleep is important for cardiovascular diseases, and people do lose one hour of sleep during the spring forward, so then we can infer that this is one of the mechanisms.”

Tanaka found a 27% increase in the number of heart attacks in Indiana for two weeks after springing ahead when the entire state started practicing DST compared to the year before, while no significant impact was observed at the fall transition. This increase at the spring transition was substantially higher than other studies which had found more modest changes, closer to 5%, in other countries.

Tanaka explains this difference may be due to differences in physical environments and lifestyle habits between countries. Tanaka was also better able to control for seasonality because he compared data from before and after the transition to practicing DST.

“Indeed, we found that heart attacks would have declined without DST, and that’s not quite controlled for in the medical literature,” Tanaka says. “In my own study, we can see what happened without practicing DST at this time of year so we can better control for that and then we find much bigger impacts.”

Some have argued that this short-term negative health impact is offset by the opportunity to engage in more outdoor physical activity in the extended daylight. Tanaka, however, has shown that this is not the case. His research presents the first comprehensive evidence examining the overall impacts during Daylight Saving Time, countering the notion that the benefits of increased daylight could compensate for these harms.

“That’s an important piece of evidence when it comes to the policy debate because people don’t just worry about the short-term impacts, but what is the overall impact,” Tanaka says. “So that’s what we need to understand.”

Tanaka found that the increase in the number of heart attacks remained relatively consistent from year-to-year, indicating that it was just a shock from starting the practice for the first time in 2006.

“It’s hard to justify this policy at this point,” Tanaka says. “There’s no such big benefit that can justify the significant costs that we see in many aspects.”

This work relates to CAHNR’s Strategic Vision area focused on Enhancing Health and Well-Being Locally, Nationally, and Globally.

Follow UConn CAHNR on social media

MIL OSI USA News –

January 25, 2025
MIL-OSI: DeFi Technologies’ Subsidiary Valour Expands Offerings with First-Ever Valour Bittensor (TAO) SEK ETP in the Nordics on Spotlight Stock Market
Source: GlobeNewswire (MIL-OSI)
- Introduction of Valour Bittensor (TAO) SEK ETP: DeFi Technologies’ subsidiary Valour Inc. has launched the Valour Bittensor (TAO) ETP on Sweden’s Spotlight Stock Market, marking the first Bittensor ETP in the Nordics and expanding its suite of digital asset products with this cutting-edge decentralized machine learning asset. With a market cap of $3.9 billion, TAO ranks #25 among digital assets globally.
- Investment Opportunities in Decentralized Machine Learning: The Valour Bittensor (TAO) SEK ETP provides Nordic investors with unique exposure to TAO, the native token of the Bittensor network, now accessible for the first time in the region. Bittensor revolutionizes machine learning by creating a decentralized, peer-to-peer marketplace where machine intelligence can be exchanged, fostered, and traded. This network functions as a hive mind, pooling AI model intelligence into an ever-growing digital knowledge base and incentivizing global collaboration among developers.
- Strategic Product Expansion: The launch of the first Valour Bittensor ETP in the Nordics underscores Valour’s commitment to bringing innovative digital assets to the market. Listed on the Spotlight Stock Market, this ETP offers Nordic investors the opportunity to invest in groundbreaking advancements within decentralized AI and machine learning, representing a significant step forward in providing regional access to transformative digital assets.
TORONTO, Oct. 30, 2024 (GLOBE NEWSWIRE) — DeFi Technologies Inc. (the “Company” or “DeFi Technologies”) (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF), a crypto-native technology company at the forefront of merging traditional capital markets with decentralized finance (“DeFi“), proudly announces that its subsidiary Valour Inc. (“Valour“), a leading issuer of exchange-traded products (“ETPs“) providing simplified access to digital assets, has listed the first-ever Valour Bittensor (TAO) ETP in the Nordics on the Spotlight Stock Market. This launch provides investors with seamless access to TAO, the token that fuels Bittensor’s decentralized machine learning protocol. With a market cap of $ 3.9 billion, TAO ranks #25 among digital assets globally.

The Valour Bittensor (TAO) SEK ETP (ISIN: CH1213604619) is the latest addition to Valour’s range of innovative digital asset products, now available to Nordic investors. The ETP brings unparalleled exposure to the Bittensor network, which turns machine intelligence into a tradable asset within a decentralized marketplace. TAO’s unique utility extends beyond traditional token use by representing individual contributions to this shared intelligence pool, embodying the collective insights within the Bittensor ecosystem. Featuring a 1.9% management fee, this ETP provides streamlined access to the rapidly growing world of decentralized AI.

“With the TAO ETP, we’re setting a new standard for AI-backed investments, linking investors to the future of decentralized intelligence,” commented Elaine Buehler, Head of Product at Valour. “This launch brings traditional investors into a dynamic AI ecosystem, pushing the boundaries of digital asset investment in the Nordics for the first time.”

Unlike traditional centralized machine learning models, Bittensor allows AI models to exchange capabilities and predictions directly in a peer-to-peer network. This decentralized structure encourages diversity and innovation, making Bittensor a key driver in the evolution of machine learning.

“By launching the Valour Bittensor ETP in Sweden, we’re expanding investor access to the transformative potential of decentralized machine learning,” said Johanna Belitz, Head of Nordics at Valour. “Our focus remains on providing high-quality products that reflect current market demands and foster innovation. This is an important milestone as the first Bittensor ETP in the Nordics.”

About DeFi Technologies
DeFi Technologies Inc. (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF) is a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance (DeFi). With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance. Backed by an esteemed team of experts with extensive experience in financial markets and digital assets, we are committed to revolutionising the way individuals and institutions interact with the evolving financial ecosystem. Follow DeFi Technologies on Linkedin and Twitter, and for more details, visit https://defi.tech/

About Valour
Valour Inc. and Valour Digital Securities Limited (together, “Valour”) issues exchange traded products (“ETPs”) that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies Inc. (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF).

In addition to their novel physical backed digital asset platform, which includes 1Valour Bitcoin Physical Carbon Neutral ETP, 1Valour Ethereum Physical Staking, and 1Valour Internet Computer Physical Staking, Valour offers fully hedged digital asset ETPs with low to zero management fees, with product listings across European exchanges, banks and broker platforms. Valour’s existing product range includes Valour Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), Binance (BNB), Ripple (XRP), Toncoin (TON), Internet Computer (ICP), Chainlink (LINK), Hedera (HBAR), Core (CORE), Enjin (ENJ), Valour Bitcoin Staking (BTC), Bitcoin Carbon Neutral (BTCN), Sui (SUI), Valour Digital Asset Basket 10 (VDAB10) and 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETPs with low management fees. Valour’s flagship products are Bitcoin Zero and Ethereum Zero, the first fully hedged, passive investment products with Bitcoin (BTC) and Ethereum (ETH) as underlyings which are completely fee free. For more information about Valour, to subscribe, or to receive updates, visit valour.com.

Cautionary note regarding forward-looking information:
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the the listing of Valour Bittensor (TAO) ETP; the development of the TAO token; investor confidence in Valour’s ETPs; investor interest and confidence in digital assets; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by the Company and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the acceptance of Valour exchange traded products by exchanges; growth and development of decentralised finance and cryptocurrency sector; rules and regulations with respect to decentralised finance and cryptocurrency; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

THE CBOE CANADA EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

For further information, please contact:

Olivier Roussy Newton
Chief Executive Officer
ir@defi.tech
(323) 537-7681

The MIL Network –
January 25, 2025
MIL-OSI: InspireSemi Announces Annual General and Special Meeting and Appointment of Director

Source: GlobeNewswire (MIL-OSI)

VANCOUVER, British Columbia and AUSTIN, Texas, Oct. 30, 2024 (GLOBE NEWSWIRE) — Inspire Semiconductor Holdings Inc. (TSXV: INSP) (“Inspire” or the “Company”), a chip design company that provides revolutionary high-performance, energy-efficient accelerated computing solutions for High Performance Computing (HPC), AI, graph analytics, and other compute-intensive workloads, is pleased to announce that the Annual General and Special meeting (the “AGSM“) for the year ended December 31, 2023 will be held in person at the Company’s offices at 11305 Four Points Drive, Suite 2-250, Austin, TX 78726 at 9:30 a.m. (Austin time) on November 20, 2024.

The Notice of AGSM, Management Information Circular (the “Circular”), Financial Statements Request Form, Form of Proxy and Voting Instruction Form (the “Materials”) will be mailed to shareholders and posted on the Company’s profile on SEDAR+ at www.sedarplus.ca not later than the date of this release. The Materials can also be found on the Company’s website at www.inspiresemi.com, investors tab.

Shareholders of record as of October 11, 2024 are entitled to vote their shares of the Company at the AGSM. The Company encourages its shareholders to vote in advance of the AGM using the instructions on the Voting Instruction Form or the Form of Proxy that were mailed to them with the Materials. Shareholders are reminded that proxies must be received by 9.30 a.m. (Austin Time) on November 18, 2024.

In addition to the usual matters presented to shareholders at an annual general meeting, the Company will be seeking the approval of its shareholders to delist its subordinate voting shares from the TSX Venture Exchange. For reasons further explained in the Circular, the Company deems the delisting to be an extremely important matter for the Company. The Company encourages all shareholders to review the information in the Circular and to vote in favour of the delisting at the AGSM.

If any shareholder has not received their voting instructions by mail by mid November and wishes to vote at the AGSM, the Company encourages those shareholders to contact the Corporate Secretary by email to secretary@inspiresemi.com who will be happy to assist with retrieving your individual voting instructions.

Advance Notice

This press release is deemed notice, in accordance with the Company’s Advance Notice By-Law (the “By-Law”), which amongst other things, includes a provision that requires advance notice to the Company in circumstances where nominations of persons for election to the Board of Directors are made by shareholders of the Company other than pursuant to: (i) a requisition of a meeting made pursuant to the provisions of the Business Corporations Act (British Columbia) (the “Act”); or (ii) a shareholder proposal made pursuant to the provisions of the Act.

In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that, in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement. Therefore, in this case of the AGSM notice of any nomination must be received by the Company by November 9, 2024.

Shareholders must provide notice of any nomination for director to the Corporate Secretary by email to secretary@inspiresemi.com and in proper written form and including all the details required in accordance with the By Law, a copy of which can be found on the Company’s website at www.inspiresemi.com, investors tab.

Appointment of Director

The Company is also pleased to announce that it has appointed Mr. Jeff Brown to its board of directors effective October 29, 2024.

Mr. Brown has had a long and successful career in the media industry, with extensive experience in distribution, digital marketing and brand management. He currently owns and runs JB & Associates, a strategic and business building consulting firm and is a Faculty Lecturer in Entertainment Media Management, Cinema and Television Arts at California State University.

Previously he was with Warner Bros for over 26 years as a prominent executive in the Home Entertainment division, ending as Executive Vice President in January 2023. He helped lead Warner Bros. with its move into streaming, digital (VOD/EST) and physical media (DVD/Blu-ray). He managed P&L for distribution of television content, including WBTV, HBO, Turner productions and third-party partner brands such as the BBC and Peanuts, leading to Warner Bros. holding the top placed market share for nearly 20 years. He
oversaw the implementation of new customer acquisition strategies and adherence to best-in-class data driven analytics. He also previously worked in brand management and finance for other large brands including Nestle, General Mills and the Gap.

Mr. Brown holds an MBA from Stanford Graduate School of Business, a BSE in Finance from Wharton, University of Pennsylvania and a BA in Political Science from University of Pennsylvania.

The Company welcomes Mr. Brown to the board and looks forward to his future contributions to the success of Inspire.

Mr. Brown was nominated as a director by Humanitario Capital LLC pursuant to nomination rights granted to it under the Convertible Loan Agreement between it and the Company dated September 23, 2024. Further information regarding the Convertible Loan Agreement can be found in the Company’s press released dated September 23, 2024.

About InspireSemi

InspireSemi (TSXV: INSP) provides revolutionary high-performance, energy-efficient accelerated computing solutions for High-Performance Computing (HPC), AI, graph analytics, and other compute-intensive workloads. The Thunderbird I ‘supercomputer-cluster-on-a-chip’ is a disruptive, next-generation datacenter accelerator designed to address multiple underserved and diversified industries, including financial services, computer-aided engineering, energy, climate modeling, cybersecurity, and life sciences & drug discovery. Based on the open standard RISC-V instruction set architecture, InspireSemi’s solutions set new standards of performance, energy efficiency, and ease of programming. InspireSemi is headquartered in Austin, TX.

For more information visit https://inspiresemi.com
Follow InspireSemi on LinkedIn

Company Contact
Ron Van Dell, CEO
(737) 471-3230
rvandell@inspiresemi.com

Cautionary Statement on Forward-Looking Information
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Statements concerning InspireSemi’s objectives, goals, strategies, priorities, intentions, plans, beliefs, expectations and estimates, and the business, operations, financial performance and condition of InspireSemi are forward-looking statements. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the forgoing) be taken, occur, be achieved, or come to pass.

Forward-looking information includes, but is not limited to, information regarding: (i) the business plans and expectations of the Company including expectations with respect to production and development; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this presentation, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of InspireSemi, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company including information obtained from third-party industry analysts and other third-party sources and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects management’s current beliefs and is based on information currently available to them and on assumptions they believe to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: (i) statements relating to the business and future activities of, and developments related to, the Company after the date of this press release; (ii) expectations for other economic, business, regulatory and/or competitive factors related to the Company or the technology industry generally; (iv) the risk factors referenced in this news release and as described from time to time in documents filed by the Company with Canadian securities regulatory authorities on SEDAR+ at www.sedarplus.ca; and (v) other events or conditions that may occur in the future. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

The MIL Network –

January 25, 2025
MIL-OSI: Safe Harbor Financial to Report Third Quarter 2024 Financial Results on Tuesday, November 12, 2024

Source: GlobeNewswire (MIL-OSI)

GOLDEN, Colo., Oct. 30, 2024 (GLOBE NEWSWIRE) — SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor”) (NASDAQ: SHFS), a leader in facilitating financial services and credit facilities to the regulated cannabis industry, today announced that it will report financial results for the third quarter of 2024 ended September 30, 2024 on Tuesday, November 12, 2024, after the close of the market.

Safe Harbor will host a conference call and webcast at 4:30p.m. ET / 1:30p.m. PT on November 12, 2024, to discuss Safe Harbor’s financial results.

For those interested in listening in to the conference call, please dial in and ask to join the Safe Harbor Financial call.

About Safe Harbor
Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions, providing traditional banking services to cannabis, hemp, CBD, and ancillary operators, making communities safer, driving growth in local economies, and fostering long-term partnerships. Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past eight years, Safe Harbor has facilitated more than $23 billion in deposit transactions for businesses with operations spanning over 41 states and US territories with regulated cannabis markets. For more information, visit www.shfinancial.org.

Cautionary Statement Regarding Forward-Looking Statements
Certain information contained in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included herein may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S and state laws, rules, regulations and guidance relating to Safe Harbor’s services; Safe Harbor’s growth prospects and Safe Harbor’s market size; Safe Harbor’s projected financial and operational performance, including relative to its competitors and historical performance; new product and service offerings Safe Harbor may introduce in the future; the impact volatility in the capital markets, which may adversely affect the price of Safe Harbor’s securities; the outcome of any legal proceedings that may be instituted against Safe Harbor; and other statements regarding Safe Harbor’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “outlook,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject, are subject to risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Safe Harbor’s filings with the U.S. Securities and Exchange Commission. Safe Harbor undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Safe Harbor Media
Nick Callaio, Marketing Manager
720.951.0619
Nick@SHFinancial.org

Safe Harbor Investor Relations
ir@SHFinancial.org

KCSA Strategic Communications
Phil Carlson
safeharbor@kcsa.com

The MIL Network –

January 25, 2025

Category: Economy

Minister of State Sh. Kirti Vardhan Singh Highlights India’s Commitment to Global Biodiversity Conservation at COP16 in ColombiaIndia Advocates for Global Conservation with ‘Plant4Mother’ Campaign at COP16 in Colombia

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Preston City Council has launched a consultation on the proposed improvement scheme on Queen Street and Avenham Lane, which forms part of the ‘Active Preston’ project.

Councillor Valerie Wise, Cabinet Member for Community Wealth Building on Preston City Council, said:

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