With international attention focused on two conflicts, in Gaza and Ukraine, other crises of diverse nature, from Sudan to Myanmar and DRC to Venezuela, are creating, instability, disruptions and challenges that the international system is struggling to cope with. In 2025, over 300 million people around the world will need humanitarian assistance and protection.
This session draws attention to unreported crises and the scale of the response required.
The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.
This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.
The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.
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Source: United Kingdom – Executive Government & Departments
Press release
Foreign Secretary statement on Thailand’s deportation of 40 Uyghur Muslims to China
The Foreign Secretary made a statement following Thailand’s decision to deport 40 Uyghur Muslims to China.
Foreign Secretary David Lammy said:
The UK disagrees in the strongest terms with Thailand’s decision to deport 40 Uyghur Muslims to China. This is despite Thailand’s international obligations in relation to non-refoulement and the well-documented ongoing human rights violations in Xinjiang.
The UK calls for the human rights of this group to be upheld, and we urge China to implement the wider recommendations of the Office of the High Commissioner of Human Rights in relation to Xinjiang.
Notes:
In 2022, the independent and authoritative Xinjiang Assessment conducted by the Office of the High Commissioner of Human Rights concluded that the extent of arbitrary and discriminatory detention of members of Uyghur and other predominantly Muslim groups may constitute international crimes, in particular crimes against humanity.
2025: ON TRACK TO DELIVERc.$100 MILLION NET CASH FLOW
Q4
FY1
Revenue2
$339M
$ 1,117M (-1%)
Adjusted EBITDA3
$157M
$455M (+14%)
Net Cash-Flow
$27M
$56M (+73%)
Sophie Zurquiyah,Chief Executive Officerof Viridien, said:
“In 2024, we met our revenue and exceeded our profitability and cash generation targets driven by strong commercial successes at Geoscience, a dynamic performance at Earth Data in both our key basins and prospective regions and the continued focus on operational efficiency at Sensing & Monitoring.
In 2025, Viridien will continue strengthening its technology leadership in its core markets while further developing its New Businesses. We anticipate continued improvements thanks to Geoscience’s record high backlog, Earth Data’s solid pipeline of projects and the termination of contractual fees for vessel commitments, and Sensing & Monitoring’s progress towards their restructuring plan.
In this context, we confirm with confidence our target of c.$100 million of net cash generation and balance sheet deleveraging.”
2024Highlights2
Group2
IFRS figures: Revenue, EBITDA and Net Income of respectively $1,211 million, $516 million, $51 million. $427 million, $216 million, $29 million in Q4.
Overall stable group revenue at $1,117 million.
Strong growth at Digital, Data & Environment (DDE) with $787 million revenue (+17%). Consistent momentum for Geoscience (GEO) driven by our preferred advanced technology and numerous commercial successes at Earth Data (EDA).
Sensing & Monitoring (SMO) revenue was $330 million, with no mega crews during the year.
33% revenue growth for New Businesses, exceeding our 30% target.
Group adjusted EBITDA3 of $455 million. DDE Adjusted EBITDA of $458 million, up 25% driven by the strong performance of both GEO and EDA. SMO adjusted EBITDA of $35 million (vs $56 million) already reflecting the positive impact of the restructuring effort.
Net Cash flow of $56 million, including $(75) million contractual fees from vessel commitments, exceeding our initial Net Cash flow target of “reaching a similar level as 2023” (ie. $32 million).
Key milestones of our financial roadmap delivered during the year: improved credit rating in Q2, revolving credit facility extended in Q3 and implementation and increase of the bond buyback program in Q3 and Q4.
Net debt at $921 million ($974 million in December 2023) and liquidity at $392 million (including $90 million undrawn RCF).
Digital, Data and Energy Transition (DDE)
Revenue at $787 million was up 17% with strong growth at GEO (+20%) and EDA (+14%). Q4 revenue, $238 million (+19%).
Adjusted EBITDA at $458 million was up 25%. Profitability impacted by $(54) million in penalty fees from vessel commitments vs $(44) million in 2023. Q4 EBITDA $150 million (+28%). $(12) million penalty vs $(13) million in Q4 2023.
Geoscience:
Revenue at $404 million (+20%). $107 million in Q4 (+10%).
GEO performance continues to be driven by technology differentiation. Order intakes, +89% in 2024, +155% in Q4, benefited from best-in-class imaging technology which the industry requires to solve subsurface challenges, increased activity in the Middle East and the renewal of long-term contracts for Dedicated HPC Processing Centers (DPCs).
New Businesses in GEO confirm the positive market dynamics in Carbon Sequestration with several projects in Norway, US Gulf and in Asia Pacific, as well as in Minerals & Mining with the award of programs in Australia and Oman. Alliance signed with Baker Hughes to offer high-quality and fully integrated Carbon Capture and Sequestration solutions to clients.
Earth Data:
Revenue at $383 million (+14%). $131 million in Q4 (+27%).
Prefunding revenue grew to $205 million (+6%). 81% of Capex. After-Sales grew to $178 million (+25%) in a flat market.
$252 million Capex, including the large Laconia Ocean Bottom Nodes (OBN) project in the US Gulf, the North Viking Graben streamer survey in Norway, and numerous global reprocessing projects.
New Businesses in EDA completed the mining project in Southeast Arizona and delivered several Carbon Sequestration projects in the North Sea, US Gulf and Asia.
Sensing and Monitoring (SMO)
Revenue at $330 million was down 27%, following delivery of “mega crew” systems in 2023. $100 million in Q4 (-16%).
Adjusted EBITDA at $35 million was down 37%. $18 million in Q4 (+104%).
Q4 EBITDA performance shows that the restructuring plan is on track to achieve expected cost reductions and operational flexibility.
New Businesses in SMO represented 17% of revenue and experienced strong momentum with deliveries for the geothermal market and infrastructure monitoring.
Market trends
E&P Capex environment expected to be stable year-on-year in 2025, as the longer-term energy industry upcycle extends.
Evolving Industry Trends:
Offshore exploration gaining momentum in key regions like the US Gulf, Brazil, Norway as well as frontiers areas such as the Equatorial Margin and the East Mediterranean Sea.
Middle East growth expected with investments in advanced imaging and digital solutions.
Demand expected to be strong for High-end geophysical technologies, such as OBN and Full Waveform Inversion (FWI), that mitigate risks and optimize field development.
New Businesses:
Continued market growth potential in CSS with new imaging contracts and project pipeline driven by most Oil & Gas operators investing to reduce carbon emissions and address societal pressures.
Increased interest from the Minerals & Mining sector for subsurface characterization.
Infrastructure Monitoring market consistently increasing by double digits annually across various sectors.
Digital solutions / HPC markets expanding rapidly fueled mainly by the explosion of AI applications.
New reporting KPI for EDA
Starting in Q1 2025, we will change the reporting KPIs for EDA:
To align with market practice, Revenue split between Prefunding and After-sales will no longer be reported.
Cash EBITDA (i.e. EBITDA – Capex) will be reported to provide more clarity on our financial performance. ($97 million and $75 million in 2023 and 2024 respectively, excluding penalty fees from vessel commitments).
Full year 2025 financial outlook
In 2025, based on a stable E&P Capex environment, performance is expected to be driven by:
Geoscience: growth backed by industry leading technology and strong backlog.
Earth Data: stronger Cash EBITDA KPI, with end of vessel commitment penalty fees.
Sensing & Monitoring: further savings expected from the restructuring plan.
New Businesses: growth and first year positive contribution to the group’s profitability.
Financial objective: net cash flow of c.$100m.
Viridien will continue to focus on cash flow generation and deleveraging. Thanks to 2024 financial performance and the favorable debt market, our bond refinancing could be realized in 2025, before our previous Q1 2026 indication.
Full Year 2024 Conference call
The press release and the presentation will be available on our website www.viridiengroup.com at 5:45 pm (CET).
An English language analysts conference call is scheduled today at 6.00 pm (CET).
Participants should register for the call here to receive a dial-in number and code, or participate via the live webcast from here.
A replay of the conference call will be made available the day after for a period of 12 months in audio format on the Company’s website.
The Board of Directors met on February 27, 2025 and approved the consolidated financial statements ending December 31, 2024. The Statutory Auditors are in the process of issuing a report with an unqualified opinion.
About Viridien:
Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. Viridien employs around 3,400 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN ISIN: FR001400PVN6).
Income (loss) before income taxes and share of income (loss) from companies accounted for under the equity method
50.1
19.9
Income taxes
24
(13.4)
(14.0)
Net income (loss) before share of net income (loss) from companies accounted for under the equity method
36.6
5.9
Net income (loss) from companies accounted for under the equity method
8
(0.5)
(2.0)
Net income (loss) from continuing operations
36.1
3.9
Net income (loss) from discontinued operations
5
14.7
12.3
Consolidated net income (loss)
50.8
16.2
Attributable to:
Owners of Viridien S.A
49.8
12.9
Non-controlling interests
1.0
3.3
Weighted average number of shares outstanding (a)
29
7,150,958
7,131,286
Weighted average number of shares outstanding adjusted for dilutive potential ordinary shares (a)
29
7,184,713
7,171,894
Net income (loss) per share(in US$)
(1) – Base (a)
6.97
1.81
(2) – Diluted (a)
6.93
1.80
Net income (loss) from continuing operations per share(in US$)
(3) – Base (a)
$
4.91
0.08
(4) – Diluted (a)
$
4.89
0.08
Net income (loss) from discontinued operations per share(in US$)
(5) – Base (a)
$
2.06
1.72
(6) – Diluted (a)
$
2.05
1.72
(a) As a result of the July 31, 2024 reverse share split, the calculation of basic and diluted earnings per shares for 2023 has been adjusted retrospectively. Number of ordinary shares outstanding has been adjusted to reflect the proportionate change in the number of shares.
The accompanying notes are an integral part of the consolidated financial statements.
Consolidated statement of comprehensive income (loss)
In millions of US$
December 31
(2) 2024(a)
2023(a)
Net income (loss) from consolidated statement of operations
50.8
16.2
Other comprehensive income to be reclassified in profit (loss) in subsequent period:
Net gain (loss) on cash flow hedges
0.4
2.0
Variation in translation adjustments
(23.0)
14.2
Net other comprehensive income to be reclassified in profit (loss) in subsequent period (1)
(22.7)
16.2
Other comprehensive income not to be classified in profit (loss) in subsequent period:
Net gain (loss) on actuarial changes on pension plan
3.6
(4.6)
Net other comprehensive income not to be reclassified in profit (loss) in subsequent period (2)
3.6
(4.6)
Total other comprehensive income (loss) for the period, net of taxes (1)+(2)
(19.1)
11.6
Total comprehensive income (loss) for the period
31.8
27.8
Attributable to:
Owners of Viridien S.A
31.3
25.1
Non-controlling interests
0.5
2.7
(a) Including other comprehensive income related to discontinued operations which is not material.
The accompanying notes are an integral part of the consolidated financial statements.
6.1.2 CONSOLIDATED STATEMENT OF FINANCIAL POSITION
In millions of US$
Notes
(3) Dec 31, 2024
Dec 31, 2023
ASSETS
Cash and cash equivalents
28
301.7
327.0
Trade accounts and notes receivable, net
3, 18
339.9
310.9
Inventories and work-in-progress, net
4
163.3
212.9
Income tax assets
24
22.9
30.8
Other current assets, net
4
74.0
92.1
Assets held for sale, net
5
24.5
–
Total current assets
926.2
973.7
Deferred tax assets
24
43.6
29.9
Other non-current assets, net
16
8.9
6.8
Investments and other financial assets, net
7
25.7
22.7
Investments in companies accounted for under the equity method
8
1.1
2.2
Property plant & equipment, net
9
220.6
206.1
Intangible assets, net
10
535.4
579.7
Goodwill, net
11
1,082.8
1,095.5
Total non-current assets
1,918.1
1,942.9
TOTAL ASSETS
2,844.3
2,916.6
LIABILITIES AND EQUITY
Financial debt – current portion
13
56.9
58.0
Trade accounts and notes payable
3
120.9
86.4
Accrued payroll costs
84.5
89.1
Income taxes payable
24
20.4
12.5
Advance billings to customers
19.2
24.0
Provisions – current portion
16
19.7
8.7
Other current financial liabilities
14
0.5
21.3
Other current liabilities
12
182.5
250.3
Liabilities associated with non-current assets held for sale
5
2.4
–
Total current liabilities
507.0
550.3
Deferred tax liabilities
24
18.4
24.3
Provisions – non-current portion
16
28.8
30.1
Financial debt – non-current portion
13
1,165.6
1,242.8
Other non-current financial liabilities
14
–
0.5
Other non-current liabilities
12
1.7
4.3
Total non-current liabilities
1,214.5
1,302.0
Common stock (a)
15
8.7
8.7
Additional paid-in capital
118.7
118.7
Retained earnings
1,036.5
980.4
Other Reserves
55.2
27.3
Treasury shares
(20.1)
(20.1)
Cumulative income and expense recognized directly in equity
(1.1)
(1.4)
Cumulative translation adjustments
(113.3)
(90.8)
Equity attributable to owners of Viridien S.A.
1,084.7
1,022.8
Non-controlling interests
38.1
41.5
Total Equity
1,122.8
1,064.3
TOTAL LIABILITIES AND EQUITY
2,844.3
2,916.6
(a) Common stock: 11,215,501 shares authorized and 7,165,465 shares with a nominal value of €1.00 outstanding at December 31, 2024.
The accompanying notes are an integral part of the consolidated financial statements.
6.1.3 CONSOLIDATED STATEMENT OF CASH FLOWS
In millions of US$
Notes
December 31
(4) 2024
2023
OPERATING ACTIVITIES
Consolidated net income (loss)
1, 19
50.8
16.2
Less: Net income (loss) from discontinued operations
5
(14.7)
(12.3)
Net income (loss) from continuing operations
36.1
3.9
Depreciation, amortization and impairment
1, 19, 28
124.7
91.5
Impairment and amortization of Earth Data surveys
1, 10, 28
261.4
153.1
Amortization and depreciation of Earth Data surveys, capitalized
10
(16.6)
(15.4)
Variance on provisions
14.3
(2.6)
Share-based compensation expenses
3.4
2.8
Net (gain) loss on disposal of fixed and financial assets
(3.7)
(1.7)
Share of (income) loss in companies recognized under equity method
0.5
2.0
Other non-cash items
(0.3)
5.2
Net cash flow including net cost of financial debt and income tax
419.8
238.8
Less: Cost of financial debt
97.2
95.3
Less: Income tax expense (gain)
13.4
14.0
Net cash flow excluding net cost of financial debt and income tax
530.4
348.1
Income tax paid – Net (a)
(12.4)
5.5
Net cash flow before changes in working capital
518.0
353.6
Changes in working capital
(61.2)
54.7
– Change in trade accounts and notes receivable
(128.4)
51.8
– Change in inventories and work-in-progress
28.1
49.2
– Change in other current assets
10.5
(9.9)
– Change in trade accounts and notes payable
26.8
(5.4)
– Change in other current liabilities
1.8
(31.0)
Net cash flow from operating activities
456.7
408.3
INVESTING ACTIVITIES
Total capital expenditures (tangible and intangible assets) net of variation of fixed assets suppliers and excluding Earth Data surveys)
9
(32.9)
(60.9)
Investments in Earth Data surveys
10
(252.1)
(171.1)
Proceeds from disposals of tangible and intangible assets
28
6.8
0.4
Proceeds from divestment of activities and sale of financial assets
28
–
6.2
Dividends received from investments in companies under the equity method
0.5
–
Acquisition of investments, net of cash & cash equivalents acquired
28
–
(1.9)
Variation in other non-current financial assets
28
(8.2)
(5.2)
Net cash-flow used in investing activities
(286.0)
(232.5)
FINANCING ACTIVITIES
Repayment of long-term debt
13, 28
(59.4)
(1.8)
Total issuance of long-term debt
13, 28
0.1
23.9
Lease repayments
13, 28
(55.7)
(57.0)
Financial expenses paid
13, 28
(85.6)
(90.7)
Net proceeds from capital increase:
– from shareholders:
–
0.1
– from non-controlling interests of integrated companies
–
–
Dividends paid and share capital reimbursements:
–
–
– Equity attributable to owners of Viridien S.A.
–
–
– to non-controlling interests of integrated companies
(3.8)
(0.9)
Net cash-flow from (used in) financing activities
(204.4)
(126.4)
Effect of exchange rate changes on cash
(11.0)
2.6
Net cash flows incurred by discontinued operations
5
19.3
(23.0)
Net increase (decrease) in cash and cash equivalents
(25.3)
29.0
Cash and cash equivalents at beginning of year
327.0
298.0
Cash and cash equivalents at end of period
301.7
327.0
(a) Includes a cash inflow of US$6 million in 2024 and US$32 million in 2023 for the research tax credit in France.
The accompanying notes are an integral part of the consolidated financial statements.
6.1.4 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
In millions of US$, except for share data
Number of shares issued(a)
Share capital
Additional paid-in capital
Retained earnings
Other reserves
Treasury shares
Income and expense recognized directly in equity
Cumu-lative translation adjust-ment
Viridien S.A. – Equity attributable to owners of Viridien S.A.
Non-controlling interests
Total equity
Balance at January 1, 2023
7,123,573
8.7
118.6
967.9
50.0
(20.1)
(3.4)
(102.4)
1,019.3
39.5
1,058.8
Net gain (loss) on actuarial changes on pension plan (1)
(4.6)
(4.6)
(4.6)
Net gain (loss) on cash flow hedges (2)
2.0
2.0
2.0
Net gain (loss) on translation adjustments (3)
14.8
14.8
(0.6)
14.2
Other comprehensive income (1)+(2)+(3)
–
–
(4.6)
–
–
2.0
14.8
12.2
(0.6)
11.6
Net income (loss) (4)
12.9
12.9
3.3
16.2
Comprehensive income (1)+(2)+(3)+(4)
–
–
8.3
–
–
2.0
14.8
25.1
2.7
27.8
Exercise of warrants
238
0.1
0.1
0.1
Dividends
–
(1.0)
(1.0)
Cost of share based payment
12,951
2.6
2.6
2.6
Transfer to retained earnings of the parent company
–
–
Variation in translation adjustments generated by the parent company
(22.7)
(22.7)
(22.7)
Changes in consolidation scope and other
1.6
(3.2)
(1.6)
0.3
(1.3)
Balance at December 31, 2023
7,136,763
8.7
118.7
980.4
27.3
(20.1)
(1.4)
(90.8)
1,022.8
41.5
1,064.3
(a) Pro forma following Reverse Share Split (see note 2 – Significant events, acquisitions and divestitures).
In millions of US$, except for share data
Number of shares issued(b)
Share capital
Additional paid-in capital
Retained earnings
Other reserves
Treasury shares
Income and expense recognized directly in equity
Cumu-lative translation adjust-ment
Viridien S.A. – Equity attributable to owners of Viridien S.A.
Non-controlling interests
Total equity
Balance at January 1, 2024
7,136,763
8.7
118.7
980.4
27.3
(20.1)
(1.4)
(90.8)
1,022.8
41.5
1,064.3
Net gain (loss) on actuarial changes on pension plan (1)
3.6
3.6
3.6
Net gain (loss) on cash flow hedges (2)
0.4
0.4
0.4
Net gain (loss) on translation adjustments (3)
(22.5)
(22.5)
(0.6)
(23.0)
Other comprehensive income (1)+(2)+(3)
–
–
3.6
–
–
0.4
(22.5)
(18.5)
(0.6)
(19.1)
Net income (loss) (4)
49.8
49.8
1.0
50.8
Comprehensive income (1)+(2)+(3)+(4)
–
–
53.4
–
–
0.4
(22.5)
31.3
0.5
31.8
Exercise of warrants
Dividends
–
(3.8)
(3.8)
Cost of share based payment
24,703
2.7
2.7
2.7
Transfer to retained earnings of the parent company
–
–
Variation in translation adjustments generated by the parent company
28.0
28.0
28.0
Changes in consolidation scope and other
Balance at December 31, 2024
7,161,465
8.7
118.7
1,036.5
55.2
(20.1)
(1.1)
(113.3)
1,084.7
38.1
1,122.8
(b) Reverse Share Split: Pursuant to a delegation from the Combined General Meeting of shareholders of May 15, 2024, and a sub-delegation from the Board of Directors held on the same day, a reversed share split has been implemented, on July 31, 2024, on the basis of 1 new share of €1.00 nominal value for 100 old shares of €0.01 nominal value.
The accompanying notes are an integral part of the consolidated financial statements.
1All variations refer tothe same period last year 2Unlessotherwise stated, all figures and commentsare referring to “Segment” (i.e. pre-IFRS 15), as defined in the2023 and2024UniversalRegistrationDocuments’ glossaries, under section 8.7 3Adjusted fornon-recurringitems
A dual challenge for the battery industry: ramping up production while innovating game-changing chemistries for the future
Battery innovation is fueling industry transformation, but overcoming current production ramp-up challenges will be crucial for European and US manufacturers
Lithium-ion batteries currently dominate due to their proven performance, scalability, and well-established supply chain, while next-generation batteries are gaining traction
76% of manufacturers will need to upgrade or build new production lines to support the future generation of battery cells
Paris, February 27, 2025 – TheCapgeminiResearch Institute’s report‘The battery revolution: Shaping tomorrow’s mobility and energy’,published today, shows that batteries are transforming existing industries and enabling the emergence of new business models. However, despite the surging demand for Electric Vehicles (EVs) and energy-storage solutions, the future of batteries depends on overcoming a series of complex challenges across the entire value chain, from securing sustainable raw materials and optimizing manufacturing processes to advancing recycling capabilities.
According to the new report, the battery industry is reaching an inflection point, driven on the one hand by the need for higher energy density, faster charging times, improved safety, greater sustainability, and, on the other, the need for manufacturers to reduce costs.
While batteries are playing a critical role in decarbonizing carbon-intensive mobility and driving the renewable energy transition1, the industry is facing series of challenges that have wide ranging implications for scaling production, gigafactory industrialization and ramp-up, economic viability, and supply chain constraints.
Battery technology is constantly evolving to improve performance and reduce costs While almost all (98%) battery manufacturers surveyed produce lithium-ion batteries (using liquid electrolyte), the industry is actively exploring alternative chemistries to support electric mobility and accelerate energy storage. Amongst them, solid-state batteries (using solid electrolyte), represent a major shift in battery technology, primarily for EVs. They answer the need for improved performance owing to their potentially higher energy densities, faster charging times, and improved safety compared with traditional lithium-ion batteries.
“Innovation is driving a sustainable and competitive battery industry, with advancements in technologies and alternative chemistries improving performance and longevity. At this transformative time, while European and North American manufacturers are navigating production ramp-ups and exploring next generation of batteries, a solid and scalable digital foundation will be crucial for the industry’s future,” said Pierre Bagnon, Global Head of Intelligent Industry Accelerator at Capgemini. “Data and digital technologies can enhance the entire battery value chain, optimizing lifecycle management from quality control to waste management and recycling. Equally, collaboration within an innovation ecosystem that brings together all players and regulators is vital to continue the industry’s journey towards a battery-driven sustainable future.”
Advances will enable new business models but not without challenges According to the survey, batteries are enabling new business models in the mobility industry to make EVs accessible to a broader range of consumers: a majority (around 64%) of mobility players are exploring battery swapping; nearly two-thirds of automotive organizations are considering battery-leasing and over half Battery-as-a-Service (BaaS) model that allows EV owners to lease or rent their batteries, rather than buy them. However, the success of these business models depends heavily on the implementation of standards, battery performance notably regarding longevity, adequate infrastructure, and economies of scale.
In the energy and utilities sector, two in five organizations say they are integrating batteries with renewable energy systems to optimize energy storage and usage, with most of them (69%) currently offering or planning to offer BaaS solutions. However, key challenges remain; while a battery is considered an expensive asset, the electricity it stores is relatively cheap. Furthermore, most organizations emphasize the lack of robust grid infrastructure and advanced control systems (65%); the need for multiple battery types to facilitate both short-term and long-term storage solutions (61%) and for open performance standards to ensure reliability and transparency (59%).
Beyond the automotive and energy sectors, multiple industries are rapidly integrating batteries into their operations: three in five of the organizations surveyed stated that battery innovation will impact fleet operators and heavy transportation in the next 5-10 years. Disruptions are also expected in aviation and shipping. Innovations in these industries include battery-powered eVTOLs (Electric Vertical Take-off and Landing), heavy-duty vehicles, and electric ships on short sea routes.
Overcoming production ramp-up challenges with scalable digital foundations The battery industry is facing a number of complex and pressing challenges. Over half of battery manufacturers cite time required to build and ramp up gigafactories and difficulties in securing a stable supply chain for battery components and materials (respectively 59% and 53%). Uncertainty, around economic viability and profitability, appears as a key concern to scaling production.
The scarcity of experienced talent also represents a significant challenge for the battery industry, with 60% of organizations facing skills shortages in both battery technology and manufacturing. Expertise gaps extend beyond specialized skills and encompass data scientists and manufacturing engineers who can analyze and correlate production data with battery performance, enabling process optimization and defect reduction.
While batteries are key to decarbonizing carbon-intensive mobility and driving the renewable energy transition, only one in three battery manufacturers surveyed have taken meaningful steps toward establishing a sustainable circular economy.
A majority (67%) of respondents acknowledge that data and digital technologies are crucial to the industry’s future. However, digitalization among battery manufacturers is currently low, at just 17% and data usage remains minimal in sustainability-related fields. In Europe, a Digital ‘battery passport’2, setting high environmental standards for battery production and recycling, will enable suppliers and OEMs to make informed decisions by considering the complete lifecycle of battery manufacturing.
Report Methodology The Capgemini Research Institute surveyed 750 senior executives from large battery, automotive, and energy and utilities organizations across 15 countries in North America, Europe, and APAC. The survey findings are complemented by in-depth discussions with 22 experts from battery, automotive, and energy and utilities sectors. The organizations surveyed are significant players in their respective segments, including battery manufacturers with annual revenue exceeding $50 million; energy and utilities firms with revenues over $1 billion (except those from Sweden and Norway, whose revenue exceeds $500 million); and automotive manufacturers with revenue above $1 billion (excluding two- and three- wheeler original equipment manufacturers [OEMs] with revenue over $300 million). The global survey was conducted in September-October 2024.
About Capgemini Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.
About the Capgemini Research Institute The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times – an industry first.
1 According to IEA, batteries account for 90% of the Net Zero Emissions by 2050 Scenario (NZE Scenario), with 60% of CO2 emissions reductions to be made in the energy sector by 2030 associated with batteries – Source: IEA, “Batteries and secure energy transitions,” April 2024. 2 From February 2027, EVs sold within the EU must be equipped with ‘battery passports’ that provide detailed information on battery composition, including sources of key materials, carbon footprint, and recycled content.
(hereinafter referred to as the “Products” and each a “Product”)
Name, registered office and address of the Company: 21Shares AG is a stock corporation under the laws of Switzerland. It has its registered office and address at Pelikanstrasse 37, 8001 Zurich.
With respect to each Product, during the period between 24 May 2024 and the dates specified in the table below for each Product (see column “Dates” in the table below), the following total number of outstanding Products presented in the table below have been recorded in the Official List of the FCA and admitted to trading on the London Stock Exchange. Those total numbers of Products that were incorrectly filed and listed into the Official list of the FCA by the Company are set out in column “Incorrectly Disclosed/Filed Total Numbers” in the table below.
Further to the Company’s previous announcement dated 25 February 2025, in order to correct the incorrectly disclosed/filed total number of outstanding Products listed into the Official list of the FCA, the Company has submitted a formal amendment request to the FCA to rectify them and specify the correct number of such total number of outstanding Products, as recorded in the Official List of the FCA and admitted to trading on the London Stock Exchange (see column “Actual/Corrected Total Numbers” in the table below).
The Company hereby informs the public of the revised total number of outstanding number of its Products (and the corresponding number of tranches of each such Product) listed into the Official list of the FCA and admitted to trading on the London Stock Exchange as of the dates specified below:
ISIN
Products
Dates
Incorrectly Disclosed/Filed Total Numbers
Actual/Corrected Total Numbers
Actual number of tranches of Products that are listed into the Official list of the FCA and admitted to trading on the London Stock Exchange
CH0454664001
21Shares Bitcoin ETP
28.05.2024 – 15.01.2025
1’165’472’500
26’152’500
39
CH0454664027
21Shares Ethereum Staking ETP
28.05.2024 – 14.01.2025
491’947’500
12’325’000
37
CH1199067674
21Shares Bitcoin Core ETP
28.05.2024 – 15.01.2025
361’110’000
13’155’000
40
CH1209763130
21Shares Ethereum Core Staking ETP
28.05.2024 – 09.12.2024
38’820’000
2’510’000
20
Contact Details: 21Shares AG, attn. Mr. Eric Baumgartner, Pelikanstrasse 37, 8001 Zurich, Switzerland, email: legal@21.co
Further Information: For further information, please refer to the Programme and UK Base Prospectus dated May 22, 2024, and the respective Final Terms. This Announcement neither constitutes a prospectus nor advertisement within the meaning of the Swiss Financial Services Act. Copies of the prospectus and any supplements thereto, if any, as well as copies of all transaction documents are available free of charge at 21Shares AG, Zurich (email: etp@21shares.com).
* * * This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG. This document and the information contained herein is not for publication or distribution into the United States of America and should not be distributed or otherwise transmitted into the United States or to U.S. persons (as defined in the U.S. Securities Act of 1933, as amended (the “Securities Act) or publications with a general circulation in the United States. This document does not constitute an offer or invitation to subscribe for or to purchase any securities in the United States of America. The securities referred to herein have not been and will not be registered under the Securities Act or the laws of any state and may not be offered or sold in the United States of America absent registration or an exemption from registration under Securities Act. There will be no public offering of the securities in the United States of America.
The products are exchange traded products, which do not qualify as units of a collective investment scheme according to the relevant provisions of the Swiss Federal Act on Collective Investment Schemes (CISA), as amended, and are not licensed thereunder. Therefore, the products are neither governed by the CISA nor supervised or approved by the Swiss Financial Market Supervisory Authority FINMA (FINMA). Accordingly, Investors do not have the benefit of the specific investor protection provided under the CIS
Source: United States Senator MarkWayne Mullin (R-Oklahoma)
ICYMI: Mullin Breaks Down President Trump’s First Month’s Performance on Meet the Press
“What Oklahomans want is to make sure that we get rid of the waste and fraud inside the federal government.”
Washington, D.C. – On Sunday, U.S. Senator Markwayne Mullin (R-OK) joined NBC’s Kristen Welker on Meet the Press to discuss the Trump administration’s ongoing efforts to end the Russia-Ukraine War, bolster our national defense, and reform the federal workforce to best serve the American people.
Sen. Mullin’s full interview can be found here.
On the war that never would have happened if President Trump was in office:
“President Trump is absolutely correct. If he was in office, this war would have never, ever taken place. What we’re trying to do and what President Trump is trying to do is end the killing. It’s been going on for three years. The Biden administration turned a blind eye to it, and President Trump is the president that can end the war. There, fact – fact and simple…
“What we’re trying to do here is put President Trump in a good position to negotiate the end of the war. It’s the same way that Reagan worked with Gorbachev by trying to end the Cold War. Trump is the president that’s going to be able to end the killings that should have never taken place and would have never taken place if he would have been in office instead of Joe Biden. The reason why is because President Trump leads peace through strength. What Biden led through is appeasement.”
On the president’s right to pick his team of U.S. military advisors:
“We’re a civilian force, and the president gets to choose his closest advisors. And the chairman of the Joint Chiefs of Staff is [one of] his closest advisors.”
On Elon Musk’s efforts to cut waste, fraud, and abuse:
“What Oklahomans want is to make sure that get rid of the waste and fraud inside the federal government…
“I would tell you that the majority of the American people want to make sure that their taxpayers are being used correctly. I don’t want anybody to lose their job. That’s the last thing we want. But at the same time, anytime you’re trying to secure this country, which a national security risk we have right now is our national debt, we have to make changes, and we have to make it quickly.”
Source: United Kingdom – Executive Government & Departments
Case study
weeHoloCam: DASA Funding Transforms Marine Biology with Revolutionary Underwater Imaging
The University of Aberdeen has developed a state-of-the-art underwater holographic camera with DASA support, enabling rapid real-time analysis of marine life in impressive detail
From Ship-Sized to Hand-Held
DASA funding and Dstl technical advice has helped the University of Aberdeen develop the world’s most compact and lightweight underwater holographic camera – the weeHoloCam
The holographic camera has vastly improved processing speed – what previously took months can now be done in hours
Added AI integration enables the automatic classification of millions of marine particles in real-time
The weeHoloCam’s evolution spans two DASA projects, the first focused on developing the camera and processor, the second project added AI classification capabilities
Plankton might be microscopic, but their importance to the planet is huge. These marine organisms produce half the world’s oxygen, form the foundation of ocean food chains, and play a crucial role in carbon absorption from the atmosphere. Marine biologists study plankton to better understand how the ocean’s food web is changing, and how climate change affects marine life. However, this process has always been a challenge – as traditional sampling methods are time-consuming and logistically difficult.
This was the reality for marine biologists until the University of Aberdeen, with DASA funding in 2019, revolutionised underwater imaging with their weeHoloCam.
“The holographic camera we used in the past was big in size and weighed more than 100 kilograms, making it very difficult to transport and deploy,” explains Dr. Thangavel Thevar from the School of Engineering, University of Aberdeen. “Now, with DASA funding, we have developed a very small version of the same that is 60 cm long and weighs just 3.5 kilograms – the frame for the camera is actually heavier than the camera itself!”
Technical Innovation
The weeHoloCam’s innovative design features two cylinders – one housing a pulse laser and optics while the other containing a sensor, mini-PC and electronics. “The camera can detect particles that are present between its windows, covering approximately 12 cm cube of water,” explains Dr. Thevar. “Within this volume, we can capture incredibly detailed holograms of particles as small as 50 microns.”
Breaking Speed Barriers
Using this advanced system, the team unlocked new capabilities in underwater imaging. “For example, in a single 3-hour dive, you can capture up to 200,000 holograms,” says Dr. Thevar. “Previously, processing each hologram took about two minutes, which meant 200,000 holograms will take more than 9 months to process.”
Using Field Programmable Gate Array (FPGA) technology, the team dramatically reduced the processing time. “We’ve taken the processing time down from two minutes to just two seconds per hologram. What would have taken 100 days now takes just one day.”
Adding AI Intelligence
Building on this, the University of Aberdeen embarked on a second project with DASA in 2022 to make the process even quicker by integrating an AI classification system for the particles. “As engineers, we needed to make this useful for biologists,” explains Dr. Thevar. “When you’re dealing with millions of individual images from hundreds of thousands of holograms, manual classification becomes incredibly time consuming.”
The new AI classifier automatically labels the images in real-time. As soon as a hologram is recorded through the camera, it’s processed and classified automatically.
Real-World Applications and Impact
The weeHoloCam has been deployed more than 20 times across various marine environments, including regular work with Marine Scotland. “We hope to support their weekly vessel deployments for plankton monitoring,” explains Dr. Thevar. “While traditional net sampling provides valuable data, our holographic camera adds crucial information about vertical depth distribution that nets can’t capture. This complementary approach gives us unprecedented insight into marine health.”
The system has even attracted media attention, featuring on BBC’s One Show during a deployment in Loch Ness. “While we did not find Nessie we were afforded a rare opportunity to study plankton in a freshwater situation which was a first for us,” says Dr. Thevar.
From a defence and security standpoint, the WeeHoloCam project addresses a critical challenge in marine operations: monitoring microscopic sea life in real-time. This capability is essential for predicting harmful algal blooms and tracking changes in marine biomass that can affect underwater optical systems.
The innovation delivers two key advantages:
Its compact size enables deployment on the growing fleet of Unmanned Underwater Vehicles, dramatically increasing measurement coverage
Its advanced AI algorithms automatically classify micro-organisms, significantly reducing the manual analysis time needed to produce biological tactical assessments
End of DASA project trial
In October 2024, at the end of their DASA project, the University of Aberdeen demonstrated their subsea holographic camera to technical Dstl partners. The lab-based trials proved highly successful. The team showcased the system’s real-time classification capabilities, using both previously collected sea-trial data and live samples containing tiny jellyfish. The demonstration highlighted the intuitive user interface, which allows operators to easily select and group different marine organisms for analysis, from bubbles to dinoflagellates (a planktonic single-celled organism) and copepods (a group of very small crustaceans).
Future Horizons
The team is now running at full capacity with several exciting developments:
Tackling sea lice detection in salmon farms, despite the challenging nature of identifying these sparse, elusive parasites
A new funded project to permanently deploy a system for harmful micro-jellyfish detection
Exploring mounting the technology on autonomous underwater vehicles
Supporting carbon transport research by tracking organic matter movement in oceans
The DASA Difference
The University of Aberdeen credits DASA’s support for the project’s success. “Working with DASA has been a very positive experience,” notes Dr. Thevar. “It’s always a two-way conversation where we help each other. They’ve pushed us forward, whether through commercialisation ideas or project development, and have been instrumental in providing further leads to follow.”
“From studying plankton populations to tracking carbon transport in our oceans, this technology is helping us understand our marine environments in ways we never could before,” concludes Dr. Thevar. “And with each new application we discover, the value of DASA’s early investment becomes even more apparent.”
The President of the Council of Ministers, Giorgia Meloni, met today with Meta’s Chief Global Affairs Officer, Joel Kaplan, at Palazzo Chigi, as part of a series of meetings to discuss topics linked to the technological transition and the development of artificial intelligence. During the meeting, the potential to enhance existing activities in Italy and explore new investment opportunities was also discussed.
Mogadishu (Agenzia Fides) – Ethiopian Prime Minister Abiy Ahmed arrived in Mogadishu today, February 27, where he was received at the airport by Somali President Hassan Sheikh Mohammed. This is an important step towards reconciliation between the two countries of the Horn of Africa, after the signing in December by Ethiopia and Somalia, under the auspices of Turkish President Recep Tayyip Erdoğan, of the so-called “Ankara Declaration”.With this agreement, both sides committed themselves, among other things, to mutual respect for each other’s sovereignty, unity, independence and territorial integrity. With the declaration signed in the Turkish capital, Ethiopia renounces the memorandum of January 1, 2024, with which Addis Ababa would have granted official recognition of the Somali secessionist region of Somaliland for a period of 50 years in exchange for access to the sea along a 20 km coastline for its “naval forces” (see Fides, 3/1/2024).The memorandum had been described by the Somali government in Mogadishu as an “attack on its territorial integrity” (see Fides, 9/1/2024). During 2024, the Turkish government offered its mediation between the two countries (see Fides, 2/7/2024), which led to the declaration signed in Ankara last December, in which Somalia agreed to work with Ethiopia “to provide it with reliable, safe and sustainable access to and from the sea under the sovereign authority of the Federal Republic of Somalia”.Ethiopia has also pledged to contribute 2,500 troops to the African Union Support and Stabilization Mission in Somalia (AUSSOM), which replaces the previous African Union Transition Mission in Somalia (ATMIS), which was also supported by the African Union. The Ethiopian contingent would be the second largest after the Ugandan contingent (4,500 troops). AUSSOM is intended to support the Somali army in the fight against the jihadist movements operating in the country.Turkey has long been present in Somalia with its own troops and military bases. After an initial period of tension, relations between Ethiopia and Turkey have eased, also thanks to the rapprochement between the political parties in power in the two countries, Ahmed’s Prosperity Party (PP) and Erdogan’s Justice and Development Party (AKP). These days, a delegation of the Ethiopian PP is attending the 8th AKP Congress being held in Turkey. (L.M.) (Agenzia Fides, 27/2/2025)
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Kinshasa (Agenzia Fides) – “We strongly condemn this serious attempt to violate the freedom of movement of a prelate of this rank,” said the Congolese Episcopal Conference (CENCO) in a note of protest against the arrest of its Secretary General, Donatien Nshole, at Lubumbashi International Airport.The statement from the President of the Episcopal Conference and Archbishop of Lubumbashi, Fulgence Muteba, states: “On February 26, while returning from Dar es Salaam, where the meeting of the Association of Episcopal Conferences of Central Africa (ACEAC) on efforts to promote peace in the Democratic Republic of Congo and the Great Lakes region was taking place, accompanied by the President of the Congolese National Episcopal Conference (CENCO), Donatien Nshole’s passport was confiscated for more than an hour by officials of the General Directorate for Migration (DGM) at Luano International Airport in Lubumbashi. No explanation was given for this incident.”CENCO “strongly condemns this serious attempt to violate the freedom of movement of a prelate of this rank.” The Episcopal Conference “wants to stress that this type of provocation is not conducive to the peaceful pursuit of peace and social cohesion,” the statement says.CENCO “also reaffirms its commitment and determination to continue the initiative of the Social Pact for Peace and Coexistence in the Democratic Republic of Congo and the Great Lakes Region, together with the Church of Christ in Congo (ECC).” “We hope that such incidents will not be repeated,” the statement concludes.Following the outbreak of war in the Congolese provinces of North and South Kivu, where the M23 guerrilla movement, supported by Rwandan troops, has taken over large parts of the two provinces in the east of the Democratic Republic of Congo, CENCO and ECC launched the initiative for the Social Pact for Peace and Coexistence in the Democratic Republic of Congo and the Great Lakes Region (see Fides, 4/2/2025). Delegations from the two churches met with political leaders from Congo and representatives of the rebels in Goma (see Fides, 13/2/2025) and neighboring countries. But apparently the initiative is not supported by everyone in the DRC. (L.M.) (Agenzia Fides, 27/2/2025)
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Beijing (Agenzia Fides) – The parish of the Cathedral of the Immaculate Conception of the Diocese of Beijing (known as Nan Tang, the “church of the South”) continues the communal reading of the biography of Matteo Ricci, in paper and digital version. The initiative is part of the rich program to celebrate the 420th anniversary of the founding of the Church by the great Jesuit missionary from Macerata (Italy), and is also part of the parish’s activities in the Holy Year of Hope.According to the official “Wechat” account of the parish, today, February 27, the parish read the eighth chapter “Shanhai Yudi Quantu”. The chapter deals with the first known map of the world in Chinese history, including the American continent, drawn up in Zhaoqing in 1584 by Father Ricci himself in collaboration with Chinese scientists. The parish reading group has recorded the book as an audio file and made it available online so that parishioners can listen to the chapters read at any time of the day.Carried by the light of the faith that Father Ricci professed and testified to 420 years ago, the parishioners of the Beijing Cathedral, dedicated to the Immaculate Conception, are experiencing the Jubilee of Hope and, at the same time, the year in which they commemorate the founding of their parish. The special Jubilee Year began on January 14 with a solemn Eucharistic liturgy that combined the Jubilee celebrations of the Holy Year 2025 and the 420th anniversary of the founding. This day was also celebrated as the “Day of the Saints” of the Diocese of Beijing, in particular remembering the figures of Blessed Odorico da Pordenone (1286-1331), Blessed James Zhou Wenmo (martyr in Korea in 1795) and Venerable Matteo Ricci, as the diocese reports in a Vademecum entitled “Pilgrims of Hope and Builders of Peace”.In his homily, Father Peter Zhao Jianmin spoke of the three figures who have marked the life of the diocese. Of Father Matteo Ricci, he says: “He travelled far to bring the flame of faith to this land. His wisdom, courage and devotion touched us all deeply…”, while the parish priest, Zhang Hongbo, had Pope Francis’s papal Jubilee bull “Spes non confundit” distributed again in the church during the official announcement of the opening of the 420th anniversary of the founding of the church.On Saturday, December 28, the opening of the Jubilee of Hope took place in the Diocese of Beijing. All priests and nuns as well as a large number of lay people from the Diocese of Beijing had gathered in the forecourt of the Cathedral dedicated to the Holy Savior, where Bishop Joseph Li Shan and the Coadjutor Bishop Matthew Zhen Xuebin presided over the solemn service to mark the beginning of the Jubilee Year in the capital of the People’s Republic of China. Everyone listened in silence to the public reading of large passages from “Spes non confundit” and then marched in procession through the Holy Door, singing the “Prayer of the Saints” and receiving a copy of the Bull. (NZ) (Agenzia Fides, 27/2/2025)
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Kinshasa (Agenzia Fides) – “We know that there are several dead, but we do not know how many,” confirm church sources in Bukavu to Fides. There, today, February 27, an explosion occurred during a rally organized by the “new authorities” installed by the M23, the rebel movement that took over the capital of the Congolese province of South Kivu on February 16.”Who did this? There are three versions so far. The first, reported by a local, speaks of a suicide bomber who wanted to blow himself up along with the convoy of M23 leaders, but the bomb exploded late while the convoy was passing by, killing innocent people,” the source said.The second version reports that the meeting organized by Corneille Nangaa, coordinator of the AFC (Alliance of the Congo River, the political wing of the M23), ended tragically when a violent confrontation between an M23 soldier and some civilians escalated.The incident occurred after a tense exchange of blows and fierce criticism between supporters of Corneille Nanga and a group of young resistance fighters who had denounced speeches by the AFC coordinator that they considered to be deceitful. As tensions escalated, an M23 soldier who was present at the meeting threw a grenade into the crowd, causing general panic.The explosion left several people dead and injured others, some seriously.Finally, there is the version reported by Radio France International (RFI), according to which two explosions occurred two minutes after the end of Corneille Nangaa’s rally. Perhaps the bombs were placed near the loudspeakers. And of course, the M23 accuses Kinshasa of being behind the attack. (L.M.) (Agenzia Fides, 27/2/2025)
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Stockholm, February 27, 2025 – Virtune announces that as of March 3, 2025, the ETP Calculation Agent for Virtune’s ETPs will change to ETFBook. The ETP Calculation Agent is responsible for calculating and distributing PCFs (Portfolio Composition Files) to counterparties as a third party in relation to Virtune.
Notification of Service Provider Change within Virtune’s ETP Program
Virtune announces a change of ETP Calculation Agent to ETFBook for all Virtune’s ETPs, which will be reflected in the updated final terms, available as of March 3, 2025. This change aims to optimize and streamline the process of PCF calculations and their further distribution.
Please note that this change does not affect investors or the trading of Virtune’s ETPs, and no action is required from investors.
Change:
New ETP Calculation Agent: SquaredData GmbH, owner of the ETFBook brand.
Address: Weissenrainstrasse 28, 8707 Uetikon am See, Zurich, Switzerland.
This change applies to all Virtune’s ETPs, which include the following:
Virtune Bitcoin ETP (ISIN: SE0020845709)
Virtune Staked Ethereum ETP (ISIN: SE0020541639)
Virtune Staked Solana (ISIN: SE0021309754)
Virtune Staked Polkadot ETP (ISIN: SE0021148129)
Virtune XRP ETP (ISIN: SE0021486156)
Virtune Avalanche ETP (ISIN: SE0022050092)
Virtune Chainlink ETP (ISIN: SE0021149259)
Virtune Arbitrum ETP (ISIN: SE0021310133)
Virtune Staked Polygon ETP (ISIN: SE0021630217)
Virtune Staked Cardano ETP (ISIN: SE0021630449)
Virtune Crypto Altcoin Index ETP (ISIN: SE0023260716)
Virtune Crypto Top 10 Index ETP SEK (ISIN: SE0020052207)
Virtune Crypto Top 10 Index ETP EUR (ISIN: SE0020052215)
Press contact
Christopher Kock, VD Virtune AB (Publ) Christopher@virtune.com +46 70 073 45 64
Virtune with its headquarters in Stockholm is a regulated Swedish digital asset manager and issuer of crypto exchange traded products on regulated European exchanges. With regulatory compliance, strategic collaborations with industry leaders and our proficient team, we empower investors on a global level to access innovative and sophisticated investment products that are aligned with the evolving landscape of the global crypto market.
Cryptocurrency investments are associated with high risk. Virtune does not provide investment advice. Investments are made at your own risk. Securities may increase or decrease in value, and there is no guarantee that you will recover your invested capital. Please read the prospectus, KID, terms at www.virtune.com.
LONDON, Feb. 27, 2025 (GLOBE NEWSWIRE) — Lloyds Bank plc announces that on 27 February 2025 it filed its Annual Report on Form 20-F for the year ended 31 December 2024 with the Securities and Exchange Commission.
A copy of the Form 20-F is available through the ‘Investors’ section of our website at www.lloydsbankinggroup.com and also online at www.sec.gov
Shareholders can receive hard copies of the complete audited financial statements free of charge upon request. Printed copies of the 2024 Lloyds Bank plc Annual Report on Form 20-F can be requested from Investor Relations by email to investor.relations@lloydsbanking.com
-END-
For further information:
Investor Relations
Douglas Radcliffe
+44 (0)20 7356 1571
Group Investor Relations Director
douglas.radcliffe@lloydsbanking.com
Corporate Affairs
Matt Smith
+44 (0)20 7356 3522
Head of Media Relations
matt.smith@lloydsbanking.com
FORWARD LOOKING STATEMENTS
This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and section 27A of the US Securities Act of 1933, as amended, with respect to the business, strategy, plans and/or results of Lloyds Bank plc together with its subsidiaries (the Lloyds Bank Group) and its current goals and expectations. Statements that are not historical or current facts, including statements about the Lloyds Bank Group’s or its directors’ and/or management’s beliefs and expectations, are forward looking statements. Words such as, without limitation, ‘believes’, ‘achieves’, ‘anticipates’, ‘estimates’, ‘expects’, ‘targets’, ‘should’, ‘intends’, ‘aims’, ‘projects’, ‘plans’, ‘potential’, ‘will’, ‘would’, ‘could’, ‘considered’, ‘likely’, ‘may’, ‘seek’, ‘estimate’, ‘probability’, ‘goal’, ‘objective’, ‘deliver’, ‘endeavour’, ‘prospects’, ‘optimistic’ and similar expressions or variations on these expressions are intended to identify forward-looking statements. These statements concern or may affect future matters, including but not limited to: projections or expectations of the Lloyds Bank Group’s future financial position, including profit attributable to shareholders, provisions, economic profit, dividends, capital structure, portfolios, net interest margin, capital ratios, liquidity, risk-weighted assets (RWAs), expenditures or any other financial items or ratios; litigation, regulatory and governmental investigations; the Lloyds Bank Group’s future financial performance; the level and extent of future impairments and write-downs; the Lloyds Bank Group’s ESG targets and/or commitments; statements of plans, objectives or goals of the Lloyds Bank Group or its management and other statements that are not historical fact and statements of assumptions underlying such statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend upon circumstances that will or may occur in the future. Factors that could cause actual business, strategy, targets, plans and/or results (including but not limited to the payment of dividends) to differ materially from forward-looking statements include, but are not limited to: general economic and business conditions in the UK and internationally (including in relation to tariffs); acts of hostility or terrorism and responses to those acts, or other such events; geopolitical unpredictability; the war between Russia and Ukraine; the conflicts in the Middle East; the tensions between China and Taiwan; political instability including as a result of any UK general election; market related risks, trends and developments; changes in client and consumer behaviour and demand; exposure to counterparty risk; the ability to access sufficient sources of capital, liquidity and funding when required; changes to the Lloyds Bank Group’s or Lloyds Banking Group plc’s credit ratings; fluctuations in interest rates, inflation, exchange rates, stock markets and currencies; volatility in credit markets; volatility in the price of the Lloyds Bank Group’s securities; natural pandemic and other disasters; risks concerning borrower and counterparty credit quality; risks affecting defined benefit pension schemes; changes in laws, regulations, practices and accounting standards or taxation; changes to regulatory capital or liquidity requirements and similar contingencies; the policies and actions of governmental or regulatory authorities or courts together with any resulting impact on the future structure of the Lloyds Bank Group; risks associated with the Lloyds Bank Group’s compliance with a wide range of laws and regulations; assessment related to resolution planning requirements; risks related to regulatory actions which may be taken in the event of a bank or Lloyds Bank Group or Lloyds Banking Group failure; exposure to legal, regulatory or competition proceedings, investigations or complaints; failure to comply with anti-money laundering, counter terrorist financing, anti-bribery and sanctions regulations; failure to prevent or detect any illegal or improper activities; operational risks including risks as a result of the failure of third party suppliers; conduct risk; technological changes and risks to the security of IT and operational infrastructure, systems, data and information resulting from increased threat of cyber and other attacks; technological failure; inadequate or failed internal or external processes or systems; risks relating to ESG matters, such as climate change (and achieving climate change ambitions) and decarbonisation, including the Lloyds Bank Group’s or the Lloyds Banking Group’s ability along with the government and other stakeholders to measure, manage and mitigate the impacts of climate change effectively, and human rights issues; the impact of competitive conditions; failure to attract, retain and develop high calibre talent; the ability to achieve strategic objectives; the ability to derive cost savings and other benefits including, but without limitation, as a result of any acquisitions, disposals and other strategic transactions; inability to capture accurately the expected value from acquisitions; and assumptions and estimates that form the basis of the Lloyds Bank Group’s financial statements. A number of these influences and factors are beyond the Lloyds Bank Group’s control. Please refer to the latest Annual Report on Form 20-F filed by Lloyds Bank plc with the US Securities and Exchange Commission (the SEC), which is available on the SEC’s website at www.sec.gov, for a discussion of certain factors and risks. Lloyds Bank plc may also make or disclose written and/or oral forward-looking statements in other written materials and in oral statements made by the directors, officers or employees of Lloyds Bank plc to third parties, including financial analysts. Except as required by any applicable law or regulation, the forward-looking statements contained in this document are made as of today’s date, and the Lloyds Bank Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this document whether as a result of new information, future events or otherwise. The information, statements and opinions contained in this document do not constitute a public offer under any applicable law or an offer to sell any securities or financial instruments or any advice or recommendation with respect to such securities or financial instruments.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
LONDON, Feb. 27, 2025 (GLOBE NEWSWIRE) — After success in centralized exchange (CEX) trading, Mizar, the automated trading platform backed by Nexo, KuCoin, and other notable traders, is expanding its focus to decentralized exchanges (DEX), bringing advanced trading tools on-chain.
Since launching its DEX trading products in 2024, Mizar has seen strong results, particularly on Base and BNB Chain, where traders in the Mizar Alpha Program report millions in net profits within months. With Solana integration on the horizon, the community is anticipating even more opportunities.
Mizar aims to replicate the seamless, feature-rich experience of CEX trading on DEXs. “Our goal is to enhance the on-chain trading experience—delivering the same ease and efficiency as Binance, but on decentralized platforms like Raydium” said Francesco Ciuci, CEO of Mizar.
The platform already offers an intuitive, high-performance trading terminal that simplifies meme-coin and token trading. Users can trade directly from the Mizar app or via the Mizar Telegram bot, which features a fast, user-friendly mini-app interface.
Beyond execution, Mizar is looking to revolutionize on-chain trading through AI and automation. “There’s so much untapped data on-chain that the potential for AI and automation is enormous. In a few years, I believe most on-chain crypto trading will be managed by bots and AI agents” said Ciuci. “We envision Mizar as an AI-powered platform that can either handle everything for users or recommend optimal strategies using advanced AI models.”
This vision is already evident in Mizar’s current offerings. The platform provides free AI-powered analytics, helping traders discover new tokens, identify smart wallets, and spot potential scam tokens. Its advanced trading bots take automation further, allowing users to capitalize on market volatility, copy-trade others wallets, and execute trades directly from Telegram chats.
With cutting-edge technology, AI-driven tools, and a strong community, Mizar is positioning itself as a key player in on-chain trading. As the platform continues to expand and refine its offerings, traders can expect a constantly evolving suite of smart tools designed to optimize success in the decentralized market.
About Mizar
Mizar is a next-generation trading platform that empowers users with advanced automation tools and AI, for seamless trading across both CEX and DEX markets. With a commitment to innovation and user success, Mizar is redefining the landscape of crypto trading for the modern investor.
People dreaming of a unique and affordable wedding or ceremony are invited to an exclusive “Sneak a Peak” Open Day at Cheylesmore Manor House on Saturday 8 March, from 10am to 1pm.
Nestled in the heart of Coventry, this award-winning, historical venue is a true hidden gem, offering bespoke and beautiful settings for unforgettable celebrations.
Visitors will be welcomed with a complimentary glass of fizz or soft drink as they explore the stunning 14th-Century manor, a venue that blends rich heritage with a warm and intimate atmosphere. You will be greeted by some of our expert team of ceremony coordinators and a Registrar, plus a professional toastmaster will be on hand, to offer guided tours, answer questions, and provide valuable advice on booking, legal requirements, and personalising your ceremony.
Cheylesmore Manor House is renowned for its affordability without compromising on elegance. Whether you’re planning a grand wedding or a simple, intimate ceremony, our passionate team is dedicated to making your day truly special.
Councillor Abdul Salam Khan, Cabinet Member for Events, expressed enthusiasm for the event:“Cheylesmore Manor House is one of Coventry’s most treasured historical buildings, and it’s wonderful to see it creating unforgettable moments for couples. This free to attend Open Day is a fantastic opportunity for people to explore the venue, meet our dedicated team, and see how they can celebrate their special day in a truly unique and affordable setting.”
Couples will have the opportunity to see first-hand how the lovely venue can transform their special day into a lifelong memory. From the perfect setting to expert advice, this Open Day is a must-visit for those looking to say “I do” in a truly enchanting venue.
In addition, on the day, a number of other local businesses will be promoting how they can help add the personal bespoke touches to your ceremony or wedding even more special.
Please let us know if you plan or want to attend the day, as this will assist in planning the day, just email ceremonyco-ordinator@coventry.gov.uk and we look forward to seeing you on the day. However, don’t worry if you decide at the last minute to attend, the staff will still be around to welcome you for a look around, so you can discover why Cheylesmore Manor House is one of Coventry’s best-kept secrets for weddings and ceremonies.
Cheylesmore Manor is based in Manor House Drive, in Coventry city centre and the postcode is CV1 2ND.
A police officer has been sentenced for causing the death of a moped rider due to careless driving.
PC Ian Brotherton, attached to the North Area Command Unit, was driving a marked police van responding to an emergency call when he collided with a moped being ridden by 26-year-old Cristopher de Carvalho Guedes in Enfield on 12 October 2023.
At a hearing at the Old Bailey on Friday, 3 January, PC Brotherton pleaded guilty to causing death by careless driving. He was sentenced at the same court on Thursday, 27 February to six months’ imprisonment suspended for 18 months. He was also given 150 hours’ community service and was disqualified from driving for 30 months.
The court proceedings follow an investigation by the Independent Office for Police Conduct (IOPC).
Commander Hayley Sewart, responsible for local policing in north London, said: “The family and friends of Cristopher de Carvalho Guedes have lost a loved one due to the careless driving of one of our officers. I know there is little I can say that will alleviate the pain they will be suffering, but I hope today’s result brings some form of closure.
“We train our officers to the highest driving standards, and when these are not met it is only right that they are held accountable.”
The incident happened at around 15:00hrs on 12 October 2023 as PC Brotherton was responding to an emergency call. He was driving a van using blue lights and sirens and accelerated through a red traffic light before the collision occurred at the junction of Southbury Road with Baird Road.
The van stopped at the scene and officers provided first aid before Mr Guedes was taken to hospital for treatment, where he sadly died.
A referral was made to the IOPC.
Now that criminal proceedings have concluded, PC Brotherton will face a misconduct hearing on Monday, 24 March.
Source: The White House
ADDRESSING THE WEAPONIZATION OF GOVERNMENT: Today, President Donald J. Trump signed a memorandum to suspend security clearances for Covington & Burling LLP employees involved in the weaponization of government, pending a review of their roles and responsibility in the weaponization of the judicial process. This action also initiates a comprehensive review of all Federal contracts with the firm to ensure alignment with the interests of the American people.
Security clearances held by Peter Koski and potential other members of Covington & Burling LLP who assisted former Special Counsel Jack Smith will be suspended, pending a review of their roles and responsibility in the weaponization of the judicial process.
The Federal Government will review and terminate engagement of Covington & Burling LLP by the United States to the maximum extent permitted by law.
All contracts with Covington & Burling LLP will undergo a detailed evaluation to ensure agency funding decisions align with American citizens’ interests and the priorities of this Administration, as detailed in executive directives.
PRIORITIZING CITIZENS OVER PARTISAN GAMES: President Trump remains steadfast in his commitment to restoring trust in government by ensuring that public resources and privileges are not exploited for political gain.
Individuals who hold government-issued security clearances bear a responsibility to uphold impartiality and the national interest. These privileges should not be leveraged to interfere in U.S. elections or advance partisan objectives.
Covington & Burling LLP provided former Special Counsel Jack Smith with $140,000 in free legal services prior to his resignation from the Department of Justice.
Jack Smith and his staff spent more than $50 million in taxpayer dollars to target President Trump—an egregious misuse of judicial authority for political ends and part of the prior administration’s unprecedented weaponization of prosecutorial power to upend the democratic process.
A RETURN TO ACCOUNTABILITY: President Trump is sending a clear message that the Federal Government will no longer tolerate the abuse of power by partisan actors who exploit their positions for political gain.
President Trump is refocusing government operations to its core mission – serving the citizens of the United States.
President Trump revoked security clearances held by dozens of intelligence officials who falsely claimed in a 2020 letter, during the height of the U.S. presidential election season, that Hunter Biden’s laptop was tantamount to Russian disinformation.
President Trump signed an Executive Order to end the weaponization of the Federal Government on his first day in office after promising to “end forever the weaponization of government and the abuse of law enforcement against political opponents.”
Source: United Kingdom – Executive Government & Departments
Press release
Beach recycling underway to strengthen Norfolk flood protection
An expected 14,000 tonnes of sand and shingle will be moved to protect 800 homes and 4,000 caravans.
Work is underway to bolster natural flood defences along the west coast of Norfolk as part of their yearly renewal.
Beach recycling will see an expected 14,000 tonnes of sand and shingle will be moved around the beach from where it’s been deposited by the tidal movement of the sea.
The aggregate is taken north to Heacham and South Hunstanton to restore the shingle ridge along a 5km stretch of coastline.
The shingle ridge is a natural flood defence protecting more than 800 properties and 4,000 caravans. The recycling will be completed in time for ground nesting birds and tourists to arrive.
To move thousands of tonnes of material, the Environment Agency uses three 30-tonne dumper trucks, two bulldozers and an excavator.
The recycling follows a report into the shingle ridge which was published in Summer 2024. The Environment Agency is set to begin updating the 2015 Wash East Coast Management Strategy (WECMS) for Hunstanton to Wolferton Creek later this year. The updated strategy will further assess the latest monitoring data and reflect the findings of the Initial Assessment report.
Sadia Moeed, Area Director for the Environment Agency said:
“Beach recycling is an incredibly important part of the work we do on the Norfolk coast. It’s vital the shingle ridge is kept in good condition to help reduce the risk of flooding to the communities behind it.
“It’s also important that property owners continue to refrain from digging into the ridge and approach the us if they wish to carry out works within 16m of it. This will also help preserve the integrity of the ridge and its ability to perform as a natural flood defence.
“People should know their flood risk and sign up for free flood warnings by going to https://www.gov.uk/check-flood-risk or calling Floodline on 0345 988 1188. You can also follow @EnvAgencyAnglia on Twitter for the latest flood updates.”
Both Natural England and the RSPB are consulted on the beach recycling to preserve the coastline’s environmental importance. The work is funded by the East Wash Coastal Management Community Interest Company which raises funds from the local community, caravan park owners and landowners. Anglian Water and the Borough Council of Kings Lynn & West Norfolk also contribute to the project.
Cllr Sandra Squire, Cabinet Member for Environment at the Borough Council of King’s Lynn & West Norfolk, said:
“Restoring the shingle ridges between Hunstanton and Snettisham helps to protect people and wildlife living on the coast in west Norfolk.
“This important annual beach recycling programme, which is an effective means of undertaking important flood defence work to maintain the defences along the Snettisham to Hunstanton coastline, makes a real difference to the communities in the area.”
We are teaming up with Sustrans for a third year to encourage people to leave their cars at home for some of their everyday journeys and try cleaner, greener, healthier ways of getting from A to B.
The challenge starts on Saturday (1 March) and encourages people to choose active travel options like walking, cycling, scooting or skating for a month. It’s a great way of staying fit and healthy, saving money and helping to improve our air quality – so get those comfy shoes and bikes out!
As an extra incentive, there are three special prizes – a Raleigh bike worth £475, an adult micro scooter worth £175 and a gold level bike service worth £140 from Bikespace in Devonport – as well as shopping vouchers up for grabs. See the Sustrans website for full prize details.
Everyone who signs up will get online access to plenty of useful hints, tips and support and a personalised dashboard where they can log their progress. They can even set themselves targets, such as miles travelled, calories burned, or carbon emissions cut.
It’s all part of our ‘active travel social prescribing’ programme, funded by Active Travel England, where our transport and public health teams work with partners including Sustrans, as well as health providers, link workers (within GP practices and health and wellbeing hubs) and community groups to get more people enjoying active travel as a form of exercise.
Councillor John Stephens, our walking and cycling champion, said: “We know how important it is to keep active and this is such an easy way to do that. Making just a few of those regular trips – or even part of them – on foot or bike can make a really big difference to our health and wellbeing.
“It also helps to reduce the amount of traffic on our roads, which is good for us all. More than 450 people took part in last year’s challenge, recording over 6,000 trips and avoiding 1,861kg of carbon emissions. This year we hope to do even better.”
Everyone who lives or works in Plymouth is welcome to sign up to the challenge and you can go solo or team up with friends, family or colleagues.
Register now and get ready to start logging your journeys!
The Lab building at ARU Peterborough – photograph courtesy of Philip Vile
ARU Peterborough’s new £32 million building is in the running for a prestigious national award – just a few months after its official opening.
The Lab, the third building at the city’s rapidly growing university, has been shortlisted in the Best Building category at the Pineapples Awards 2025.
The Pineapples Awards recognise projects that make a positive impact on places and people, celebrating buildings that are welcoming rather than simply aesthetically pleasing. Award winners receive a golden pineapple trophy, with the pineapple historically being a symbol of welcome in UK architecture.
The awards have a unique judging process, with the 51 judges asked to evaluate projects from both a professional and personal perspective. Judges consider the social and environmental impact, their own physical reactions, and how people from diverse backgrounds might experience the space.
Designed by Cambridge-based MCW architects and built by Morgan Sindall Construction, ARU Peterborough’s The Lab features engineering workshops, a microbiology lab, a tissue culture lab, teaching spaces, and the Living Lab, which has been specifically designed for public engagement events, talks, and exhibitions.
The timber building also meets high environmental standards, earning an Excellent rating from BREEAM, the leading global standard for building sustainability. During its construction, over 258 tonnes of CO2 emissions were saved.
As the third building to open since the university’s launch in 2022, The Lab’s specialised teaching facilities have enabled ARU Peterborough to expand its range of employment-focused courses, particularly in STEM (science, technology, engineering, and maths) subjects.
“The University is already receiving national attention for our impact in improving access to education and raising skills levels in the region, and we’re thrilled that our fabulous buildings are also being recognised.
“We’ve worked hard to make sure ARU Peterborough is a wonderful place to study, work, and visit. Our campus is open and accessible to the community, and this Pineapples Award nomination is testament to that. I encourage anyone who hasn’t already visited ARU Peterborough to come and explore for themselves.”
Professor Ross Renton, Principal of ARU Peterborough
“The most rewarding part of being an architect is seeing your buildings being used and loved by so many people. The double-height Living Lab at ARU Peterborough was designed as a golden beacon for the campus – a space where students, as well as the community, can come together for lectures, events, and exhibitions.
“The Lab’s open and transparent nature reflects the commitment to creating a welcoming building that has a positive impact on both places and people. This Pineapples Award shortlisting is thanks to the shared vision of the Cambridgeshire and Peterborough Combined Authority, Peterborough City Council, and ARU, and we’re incredibly proud to be a part of it.”
Lien Geens, Associate Director of MCW architects
“This nomination is a fantastic recognition of the ambition behind ARU Peterborough and the impact it’s already having on our region.
“The Lab is more than just a building – it’s a gateway to opportunity, innovation, and community engagement. Investing in education and skills is vital for our region’s future, and seeing ARU Peterborough’s campus being nationally celebrated shows we’re on the right track.”
Dr Nik Johnson, Mayor of Cambridgeshire and Peterborough
The golden pineapples will be announced and presented to the winning projects at a ceremony in April.
ARU Peterborough is a partnership between Anglia Ruskin University, Peterborough City Council and the Cambridgeshire and Peterborough Combined Authority.
Maintenance work is currently underway at the Mitchell Tower at Marischal College East which is owned by the University of Aberdeen. It is expected that the unforeseen repair and maintenance programme could take at least 12 months – although this has still to be confirmed pending detailed inspection. During this time there will be a requirement for construction access through Queen Street and the site of the proposed urban park to Marischal East and the Mitchell Tower. Aberdeen City Council is working closely with the University to ensure that respective programmes do not prejudice or prevent any emergency repair work to be undertaken.
In order to deliver the most efficient construction programmes for both the repairs to the Tower and the delivery of the urban park, the Council has reprogrammed the construction of the urban park to commence on site once issues with the Mitchell Tower have been addressed. Maintaining a permanent access to Marischal East and the Mitchell Tower throughout the urban park construction programme would add significant time, cost and complexity to the project, together with risk to new fixtures fittings and new surfaces. The Council has therefore agreed to pause the construction programme for the urban park to enable full access to Marischal East to undertake necessary repair works.
The University is liaising closely with Aberdeen City Council and updating them over progress and timeline of that work.
Source: United Kingdom – Executive Government & Departments 3
Speech
UN Human Rights Council 58: UK Statement at the Enhanced Interactive Dialogue on Sudan
UK Statement at the 58 Human Rights Council during the Enhanced Interactive Dialogue on Sudan. Delivered by the UK’s Permanent Representative to the UN & WTO, Simon Manley.
Mr Vice President,
High Commissioner, thank you for your report.
Nearly two years of wholly unnecessary conflict after an unnecessary coup d’etat.
Thousands of civilians killed. Millions facing starvation. Targeted attacks on civilians. And rampant sexual violence, as our Foreign Secretary heard first-hand on the Sudan-Chad border just last month.
It is appalling that those seeking refuge in IDP camps are subject to further violence. The recent RSF attacks on ZamZam IDP Camp and drone strikes in El Fasher are simply unacceptable.
We welcome the continued cooperation between your office High Commissioner, the Designated Expert and the Independent Fact-Finding Mission. These efforts to document and investigate human rights violations and abuses are critical to ending the cycle of violence.
Vice President.
All parties must uphold their Jeddah Declaration commitments and bring an end to the violence.
Aid actors need safe and unhindered humanitarian access to areas of greatest need, including Darfur.
And all perpetrators of human rights violations and abuses need to be held to account to end the entrenched impunity in Sudan.
High Commissioner, what more can we do to end impunity in Sudan?
Detectives who are investigating a fatal collision at 21:19hrs on Monday, 24 February on Bessborough Road in Harrow have named the victim.
Chithra Vanmeeganathan, who was 46 years old and from Wembley, sadly died following a collision involving a car, a bus and pedestrians.
Officers, the London Ambulance Service and London’s Air Ambulance all attended. Despite the best efforts of emergency services, Chithra sadly died at the scene.
Her next of kin has been informed and is receiving support from officers.
Detective Sergeant Paul Jackson, from the Roads and Transport Policing Command, said: “Our thoughts remain with Chithra’s family at this difficult time.
“The investigation into this tragic incident is ongoing, and we are continuing to appeal for anyone with footage of the incident, including from a doorbell camera or dashcam, or anyone who witnessed the collision to come forward.”
Two other pedestrians, a 12-year-old boy and a woman in her 30s, were taken to hospital for treatment – their conditions are not life changing.
The driver of the car stopped at scene and he was arrested on suspicion of causing death by dangerous driving. They have since been released on bail.
Officers are appealing for witnesses or anyone with footage of this incident, including drivers with dashcam footage, to contact police on 101 or ‘X’ @MetCC quoting CAD 7193/24Feb.
You can also provide information anonymously to the independent charity Crimestoppers on 0800 555 111.
Manama, Kingdom of Bahrain – 27 February 2025 – The Central Bank of Bahrain (“CBB”) received a high-level business delegation from France as part of a two-day visit organised by French Business Confederation “MEDEF International”, the first network for entrepreneurs in France.
HE Khalid Humaidan, CBB Governor, welcomed the delegation and praised the confederation’s role in supporting economic and investment relations between the Kingdom of Bahrain and the French Republic. HE Humaidan also discussed CBB’s priorities for the coming period and opportunities for cooperation in the financial services sector, being one of the priority sectors in the Kingdom.
The delegation, which was headed by Mr. Frédéric Sanchez Chairman of MEDEF International, discussed the confederation’s objectives and roles in addition to discussed topics of common interest.
SINGAPORE, Feb. 27, 2025 (GLOBE NEWSWIRE) — With Bitcoin’s price fluctuating below $100,000, many analysts predict a prolonged period of high volatility in the crypto market. Holding spot positions may struggle to generate short-term profits in such conditions. As a result, 100x leverage futures trading has become the preferred tool for seasoned investors looking to maximize potential gains in this volatile market. BexBack Exchange is ramping up its efforts to offer traders unmatched promotional packages. The platform now features a 100% deposit bonus, a $50 welcome bonus for new users, and 100x leverage on cryptocurrency trading, providing exceptional opportunities for investors.
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Disclaimer: This content is provided by BexBack.The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.
Photo accompanying this announcement are available at
LLOYDS BANK PLC ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
LONDON, Feb. 27, 2025 (GLOBE NEWSWIRE) — Lloyds Bank plc announces that the following document will be submitted today to the National Storage Mechanism and will shortly be available for inspection in unedited full text at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
Annual Report and Accounts 2024
A copy of the document is also available through the ‘Investors’ section of our website www.lloydsbankinggroup.com
This announcement is made in accordance with DTR 4.1.
For further information:
Investor Relations
Douglas Radcliffe
+44 (0)20 7356 1571
Group Investor Relations Director
douglas.radcliffe@lloydsbanking.com
Corporate Affairs
Matt Smith
+44 (0)20 7356 3522
Head of Media Relations
matt.smith@lloydsbanking.com
FORWARD LOOKING STATEMENTS
This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and section 27A of the US Securities Act of 1933, as amended, with respect to the business, strategy, plans and/or results of Lloyds Bank plc together with its subsidiaries (the Lloyds Bank Group) and its current goals and expectations. Statements that are not historical or current facts, including statements about the Lloyds Bank Group’s or its directors’ and/or management’s beliefs and expectations, are forward-looking statements. Words such as, without limitation, ‘believes’, ‘achieves’, ‘anticipates’, ‘estimates’, ‘expects’, ‘targets’, ‘should’, ‘intends’, ‘aims’, ‘projects’, ‘plans’, ‘potential’, ‘will’, ‘would’, ‘could’, ‘considered’, ‘likely’, ‘may’, ‘seek’, ‘estimate’, ‘probability’, ‘goal’, ‘objective’, ‘deliver’, ‘endeavour’, ‘prospects’, ‘optimistic’ and similar expressions or variations on these expressions are intended to identify forward-looking statements. These statements concern or may affect future matters, including but not limited to: projections or expectations of the Lloyds Bank Group’s future financial position, including profit attributable to shareholders, provisions, economic profit, dividends, capital structure, portfolios, net interest margin, capital ratios, liquidity, risk-weighted assets (RWAs), expenditures or any other financial items or ratios; litigation, regulatory and governmental investigations; the Lloyds Bank Group’s future financial performance; the level and extent of future impairments and write-downs; the Lloyds Bank Group’s ESG targets and/or commitments; statements of plans, objectives or goals of the Lloyds Bank Group or its management and other statements that are not historical fact and statements of assumptions underlying such statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend upon circumstances that will or may occur in the future. 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Source: State University of Management – Official website of the State –
Due to the high interest in participation in the V International Financial Security Olympiad, co-organized by the State University of Management, it was decided to extend the Invitational Stage until March 23, 2025. This will allow even more schoolchildren and students to get acquainted with the format and directions of the Olympiad tasks, test their knowledge and prepare for the start of the Selection Stage.
The Invitational Stage tasks will be available for completion until 23:59 on March 23, 2025 (Moscow time).
The Olympiad started on February 1 on the Sodruzhestvo platform and is held in Russian and English. Schoolchildren in grades 8–11 and students from Russia and partner countries are invited to participate.
To participate in the Invitational Stage, you must register on the Sodruzhestvo platform: https://sodrujestvo.org/ru. Participants who successfully complete the tasks of the stage will receive certificates.
The International Financial Security Olympiad has been held since 2021 under the patronage of the President of Russia and the Government of the Russian Federation.
Winners and prize winners of the Olympiad receive advantages when entering leading Russian and foreign universities – participants of the International Network Institute in the field of AML/CFT, as well as the opportunity to complete internships at Rosfinmonitoring, the Bank of Russia, PJSC Promsvyazbank and other financial organizations.
The International Financial Security Olympiad is aimed at popularizing financial security as a norm of life, as well as at forming a new type of thinking among young people: from the financial security of an individual to the financial security of the state. Winners and prize winners are granted additional rights when entering higher education programs.
Subscribe to the tg channel “Our State University” Announcement date: 02/27/2025
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Headline: Microsoft AI ignites telecom innovation and growth
The telecommunications industry is experiencing significant AI advancements, emerging as the leading adopter of generative and agentic AI to drive automation, personalization, and data-driven decisions. According to a recent IDC white paper, telecom and media companies are seeing nearly four times the return on investment (ROI) on every dollar invested in AI. Additionally, by 2027, almost 90% of telecom providers are expected to use generative AI to improve customer experiences, up from 62% today.
96% of our tier-1 telecom customers are already adopting Microsoft AI solutions. Our ecosystem of customers and partners are harnessing the power of AI to reimagine customer experiences, modernize networks, automate business operations, and drive growth.
Ahead of Mobile World Congress 2025 (MWC), we’re sharing new capabilities and customer momentum that show how telecoms are adopting the Microsoft Cloud and AI capabilities to support their AI journey and empower the next generation of telecom solutions.
We invite you to join us next week at MWC to learn more about our new announcements and see firsthand how Microsoft AI is transforming the telecom industry. Experience live demos, attend insightful sessions, and meet our experts to learn how you can drive innovation and growth with Microsoft AI technologies.
Data is the fuel that powers AI: Telco data model
Telecom networks are recognized for their complex, data-rich environments. This data is the fuel that powers AI and forms the foundation upon which next-generation telecom systems are built. To convert this massive potential into actionable intelligence, organizations need a unified platform that can seamlessly connect, manage, and analyze their data. Microsoft Fabric is the end-to-end data platform designed to power customer AI transformation and help organizations reimagine how they unlock value from their data and revolutionize the services they offer.
Today we announce the Telco industry data model in Microsoft Fabric, designed to unify all data—from network performance metrics to customer interactions, within a single analytics environment. As an integral Fabric workload, telecom providers can use the Telco industry data model to manage and streamline how all their data is ingested, modelled, and analyzed through:
Native Fabric integration—a unified pipeline within Fabric’s analytics, governance, and visualization framework means faster time to market, with better insights.
Expanded data model—pre-built telecom-specific schemas covering network data, customer insights, and operational metrics drives operational efficiency.
Developer and visualization tools—simplified, AI-ready solution building that dramatically reduces development and testing time, making networks more resilient.
More than 50% of our telecom customers are leveraging Fabric for real-time business insights to optimize business and network operations. Leading customers like Telefónica, KPN, One NZ, and partners like Accenture, Infosys, and LigaData are using Fabric to achieve business results. The broader customer adoption for Fabric is more than 19,000 customers, including 70% of the Fortune 500. The Telco industry data model in Microsoft Fabric enables telecoms to establish a strong data foundation to unlock AI-powered insights that fuel innovation, operational efficiency, and greater value across the entire organization.
“Microsoft Fabric, powered by Telco data model and AI capabilities, has revolutionized our solutions by providing real-time insights throughout the customer journey, potentially increasing operational efficiency by 40%. Our solution offers preventive insights across the entire order lifecycle and its auto-healing capability for enhanced jeopardy management, significantly improving the management of complex B2B orders and enhancing the customer experience.”
The Telco industry data model in Microsoft Fabric will be available early in April 2025.
Telecom customers around the world are taking advantage of the cloud and AI in new and innovative ways. The collaborations we recently announced with KT Corporation, Lumen, Telstra, and Vodafone demonstrate how telecoms are innovating to elevate customer experiences, streamline business operations, modernize networks, and unlock new revenue streams. Additionally, we’re introducing new collaborations with top telecom providers that exemplify how they’re building the foundation to successfully implement AI, benefiting their organization, employees, and customers.
Spark, New Zealand’s leading telecom provider, is joining forces with Microsoft in the country’s largest Microsoft public cloud partnership, highlighting how AI and the Cloud are helping to transform telecom worldwide. Spark will migrate a portion of its workloads to Microsoft Azure and roll out one of New Zealand’s largest Microsoft 365 Copilot deployments. For more, read the press release.
Microsoft and Telefónica are extending their strategic collaboration to co-develop digital solutions using Open Gateway, a GSMA-led initiative that transforms communication networks into programmable platforms via Telefónica’s AI platform, Kernel. Both companies will work together to migrate Kernel’s capacities to Azure as part of a software as a service (SaaS) offering. The collaboration also encompasses a joint go-to-market strategy, which will bring a suite of digital products and services to other telecoms, developers, and telecom entities—available on Azure Marketplace and integrated into Microsoft’s overall telecom solutions. For more, read the press release.
We are also announcing that Surface for Business with 5G devices and Microsoft 365 Copilot will be available in all Verizon Business channels starting in April 2025. This launch marks a decade of partnership between Microsoft and Verizon Business, offering cellular connected Surface for Business devices and Microsoft services. Customers are choosing Surface Copilot+ PCs today for their exceptional performance, battery life, and security. Now, with the Verizon 5G network, the combination of Surface and Microsoft 365 Copilot offers an unparalleled mobile experience for business customers. For more, read the Surface IT Pro blog.
Telecoms accelerate growth in the next wave of AI: Agentic AI
As the AI platform shift accelerates, it’s inspiring to see customers and partners harness AI, generative AI, and agentic AI to drive transformation—reshaping both their businesses and the industry at large.
Elevating customer experiences
A recent IDC white paper showed AI-powered customer engagement is a top priority for businesses, with 92% of organizations currently using AI for marketing and public relations (PR) and 77% using it for customer service. Telecom providers are delivering frictionless customer experiences with AI-infused customer care at-scale with Dynamics 365. With a comprehensive view of the customer, telecoms obtain real-time insights into accounts and next-best actions to take. They also enable their customers through AI-powered automation for self-service. Additionally, Amdocs has created the Customer Engagement Platform that is fully integrated with Dynamics 365, to reimagine customer experience and identify new revenue opportunities for telecoms.
Since last MWC, we announced Dynamics 365 Contact Center, a powerful solution that works with existing customer relationship management systems (CRMs) and unifies interactions, streamlines support, and boosts customer satisfaction. With this solution, consumers can engage and self-serve in their channel of choice while reps can handle billing and tech issues faster with a single view. Built-in Copilot capabilities and real-time analytics drive improvements and upselling, enhancing loyalty, and revenue.
Leading telecoms are also reimagining how they connect with customers by harnessing Microsoft 365 Copilot to capture real-time transcripts, gain contextual insights, and automate repetitive tasks. This reduces handling times, freeing representatives to tackle more complex customer needs.
Here are some examples of how telecoms customers are using Microsoft AI technologies to transform their business and reimagine customer experiences:
Telkomsel’s AI-powered solution Veronika, built on Azure and introduced at the end of 2023, is delivering impressive results. Telkomsel has increased self-service interactions by 62% and cut escalations to agents by 38%. The average monthly active users of Veronika also grew by 67%, rising from 1.3 million in the first half of 2023 to 2.2 million in the second half. These improvements have boosted agent productivity and service quality, making for a smoother, more efficient customer experience.
Vodafone is harnessing Microsoft 365 Copilot to empower 68,000 employees to boost productivity, innovation, and quality. They are also leveraged Azure OpenAI Service, Azure AI Studio, Kubernetes Service to develop Tobi and SuperAgent to empower their agents with real-time AI support to improve customer experience, decrease churn, and provide competitive advantage. This improved first-time resolution from 70% to 90%.
Lumen is leveraging Microsoft AI solutions to empower their employees and improve customer service.
“Lumen is building the trusted network for AI. By scaling our AI capabilities with tools like Copilot, Azure AI, and Azure ML, we’re empowering our employees to tackle complex challenges and prioritize high-impact activities that enhance customer experiences and satisfaction. As we navigate our transformation, Microsoft’s AI tools are essential in supporting our objectives and sustaining our competitive advantage.”
Ryan Asdourian, Executive Vice President and Chief Marketing Officer, Lumen Technologies
Optimizing operations and modernizing networks
To keep pace with increasing business demands, leading telecoms are optimizing business operations and modernizing their networks with AI and an integrated data backbone.
Here are examples of how customers are using Microsoft AI capabilities to drive operational efficiency, innovation and growth:
AT&T automates code conversion and human resources (HR) inquiries with Azure OpenAI Service, improving employee experience, cutting costs and boosting customer service.
KT Corporation is leveraging Microsoft AI to drive efficiency and innovation.
“The Microsoft AI-driven solutions have enabled KT Corporation to improve its work efficiency and drive significant work innovation. By introducing Microsoft 365 Copilot, KT Corporation empowered over 11,000 employees with the latest AI solutions. Additionally, by developing AI agents built on solutions such as Microsoft Sustainability Manager and Copilot, KT reduced task completion time by 50% and improved infrastructure efficiency by 20%.”Phil Oh, CTO, KT Corporation
Proximus and TCS’s GitHub Copilot journey showcases how Microsoft generative AI accelerates IT delivery in telecom, improving productivity, code quality, and developer experience.
“In terms of developer experience, that’s where we got phenomenal, satisfactory feedback from developers—about 90% plus positive feedback from all categories of developers.”
Muralidharan Murugesan, Head – AI, Telco, Media & Information Services Industry, TCS
NTT DATA is leveraging Microsoft AI to build agentic AI workloads.
“NTT DATA leverages Microsoft Copilot Studio to deliver agentic AI advisory, implementation, managed services, and connectivity. By providing industry-specific automation and utilizing our integrated managed services platform, we support clients throughout their agents’ lifecycle. This collaboration is pivotal in achieving our clients’ outcomes, enabling us to deliver tailored, efficient, and innovative solutions that drive business success and enhance decision-making processes.”
Aishwarya Sing, SVP, Global Head of Digital Collaboration, NTT
One NZ is using Microsoft Fabric for real-time analytics from unified data sources. With the integration of multiple systems and visualizing insights on a single pane, One NZ has rapidly streamlined processes and proactively addressed growth opportunities:
“Previously, you needed to be a data engineer or scientist to access and understand customer information. Now we’re making it user-friendly, so anyone can easily make data-driven decisions.”
Strathan Campbell, Channel Environment Technology Lead, One NZ
Telstra scales in-house generative AI tools, saving 90% of employees’ time and reducing follow-up contacts by 20%.
Unlocking new revenue streams in the enterprise
A recent IDC white paper reports that 63% of telco and media companies say they are currently monetizing or using AI to boost revenue. As a trusted partner, beyond supporting their own transformation, we equip telecom providers with comprehensive business-to-business (B2B) offerings to drive topline growth and better serve their enterprise customers.
For example, AT&T’s collaboration with Microsoft is reimagining enterprise connectivity. AI applications and AT&T’s connectivity are tackling the USD112 billion annual retail shrinkage issue head-on. By integrating Azure IoT with AT&T’s 5G network and leveraging Teams Phone Mobile for notifications, retailers receive alerts that minimize loss and ensure safer shopping experience. AT&T’s move into AI-powered connectivity has created new revenue streams, spanning cost savings, compliance, and collaboration.
“AT&T is a leader in enabling innovative AI solutions and continues to expand capabilities through our relationship with Microsoft. We’re excited to integrate Microsoft’s AI capabilities into our retail crime intelligence platform, which utilizes near real-time notifications via Teams Phone Mobile. This collaboration underscores the commitment of both companies to enhance retail security and contribute to a safer shopping environment for both employees and customers.”
Another partner, Norwood Systems, is extending traditional voice services with Voice AI, opening up a new revenue stream for telecoms. Its OpenSpan solution, built on Azure OpenAI Service and Azure AI Speech, enables telecoms to bridge public switched telephone network (PSTN) and mobile services, to deliver advanced features like real-time recording, transcription, and summarization. This provides seamless call management for users and deeper insights for the telecom providers:
“By integrating Norwood’s OpenSpan with our mobile and voice networks, BT is unlocking new possibilities in voice technology. This innovation bridges our award-winning networks with AI, creating opportunities to enhance customer experiences, drive new efficiencies, and shape the future of voice communications.”
Jon Martin, Senior Director, Unified Communications, BT
To continue our mission to help telecoms succeed in this era of AI platform shift, Microsoft is enabling telecoms to further capitalize on AI by offering generative AI-powered managed security services. This allows tier-1 telecoms to generate new revenue from reselling, implementation, and managed services, while also reducing security operations center (SOC) costs and accelerating threat responses.
AI-powered Microsoft platforms and capabilities for co-innovation
Microsoft offers arguably the most comprehensive AI solutions. As a platform-first company, we also provide extensive tools to empower partners, developers and customers to build innovative cloud and AI solutions that meet the needs of telecom businesses.
Our adaptive cloud approach unifies hybrid, multi-cloud, and edge infrastructure through a single Azure Arc platform. We enable customers to build distributed, low-latency, high-performance applications and establish a common data foundation for current and future AI investments. For ultra-low latency or regulatory scenarios, we’re expanding Azure withAzure Local—cloud-connected infrastructure deployable at edge locations like retail sites and central offices. We continue to support existing Azure Operator Nexus customers as the solution evolves as part of our overall approach for Azure at the edge.
Accenture is spearheading an enterprise-ready private multi-access edge compute (MEC) solution built on Azure Local to deliver low latency, localized data processing, and meet regulatory requirements. Tejas Rao, Accenture, Managing Director, Accenture says, “Private 5G and edge computing are no longer experimental technologies, they are catalysts for enterprise transformation. By leveraging Azure Local, we help organizations harness ultra-low latency and localized data processing to unlock real-time insights, automate critical operations, and meet industry-specific compliance needs.”
Another partner,
Microsoft has also performed an initial integration of Project Janus into Academic institutions, such as the To learn more about how telecoms can modernize their networks with Project Janus, read this blog.
Vice President WW Telecommunications, Media and Gaming, Microsoft
Silvia Candiani leads Microsoft’s Worldwide Telecommunications, Media and Gaming Industry, overseeing industry strategy, go-to-market plan, ecosystem growth, and solution development. Silvia was formerly CEO of Microsoft Italy, focused on accelerating digital transformation. Prior to Microsoft, Silvia led Consumer Marketing for Vodafone in Italy and was previously a consultant at McKinsey in the Media and Telecommunication industries. She has a BA from Bocconi University and an MBA from INSEAD. Silvia is also a member of the Bocconi University Alumni Advisory Board and Lavazza Group.
Source: The Conversation – France – By Vivien Parmentier, Professeur junior spécialiste des atmosphères d’exoplanètes au laboratoire LAGRANGE, Observatoire de la Côte d’Azur, CNRS, Université Côte d’Azur
The largest telescopes in the world are used to look at the atmospheres of planets orbiting other stars and located at astronomical distances.Y. Beletsky(LCO)/ESO, CC BY
The planet WASP-121b is extreme. It’s a gas giant almost twice as big as Jupiter orbiting extremely close to its star–50 times closer than the Earth does around the Sun. WASP-121b is so close to its star that tidal forces have locked its rotation in a “resonance”: the planet always shows the same face to its star, like the Moon to the Earth. Therefore, one side of WASP-121b constantly bakes in light whereas the other is in perpetual night. This difference causes huge variations in temperature across the planet. It can be more than 3,000°C on one side and drop 1,500°C on the other.
This huge temperature contrast is the source of violent winds, blowing several kilometres per second, which try to redistribute the energy from day to night. Until now, we had to guess the strength and direction of the winds with indirect measurements, such as measurements of the planet’s temperature. In recent years, with the arrival of new instruments on giant telescopes, we’ve been able to directly measure the wind speed of certain exoplanets, including WASP-121b.
In our study published in the journal Nature that was conducted by my colleague, Julia Seidel, we not only looked at wind speed on an exoplanet, but also at how these winds vary with altitude. We were able to measure for the first time that winds in the deepest layers of the atmosphere are very different from those at higher altitudes. Put it this way: on Earth, winds blowing a few dozen kilometres per hour already make it hard to ride a bike; on WASP-121b, pedalling would be impossible, because the winds are a hundred times faster.
Our measurements reveal the behaviour of a pivotal zone of the atmosphere that forms the link between the deep atmosphere–usually surveyed by telescopes such as the James Webb Space Telescope–and the outer zones where the atmosphere escapes into space, blown by the wind coming from its star.
How did we measure the atmosphere of a planet millions of billions of kilometres away?
To make our measurements, we used one of the most precise spectrographs on Earth, mounted on the largest telescope available to us: ESPRESSO at the European Southern Observatory (ESO) Very Large Telescope (VLT), located in the Atacama desert in Chile. To collect as much light as possible, we combined the light from the VLT’s four 8-metre diameter telescopes. Thanks to this combination, which is still being tested, we collected as much light as would a 16-metre diameter telescope–which would be larger than any optical telescope on Earth.
The ultra-precise ESPRESSO spectrograph then enabled us to separate the light from the planet into 1.3 million wavelengths. This allows us to observe as many colours in the visible spectrum. This precision is necessary to detect different types of atoms in the planet’s atmosphere. This time, we studied how three different types of atoms–absorb light from the star: hydrogen, sodium and iron (all in a gaseous state, given the very high temperatures).
By measuring the position of these spectral lines very precisely, we were able to directly measure the speed of these atoms. The Doppler effect tells us that an atom coming toward us will absorb more blue light, while an atom moving away from us will absorb more red light. By measuring the absorption wavelength of each of these atoms, we have as many different measurements of the wind speed on this planet.
We found that the lines of the different atoms tell different stories. Iron moves at 5 kilometres per second from the substellar point (the region of the planet closest to its host star) to the anti-stellar point (the most distant) in a very symmetrical way. Sodium, on the other hand, splits in two: some of the atoms move like iron, while the others move at the equator directly from east to west four times faster, at the staggering speed of 20 kilometres per second. Finally, hydrogen seems to move with the east-west current of sodium but, also, vertically, no doubt allowing it to escape from the planet.
To reconcile all this, we calculated that these three different atoms are, in fact, in different parts of the atmosphere. While iron atoms lie at the deeper layers, where symmetrical circulation is expected, sodium and hydrogen let us probe much higher layers, where the planet’s atmosphere is blown by the wind coming from its host star. This stellar wind, combined with the rotation of the planet, probably carries the material asymmetrically, with a preferential direction given by the rotation of the planet.
There are violent winds in the atmosphere of WASP-121b. The three types of atoms travel at different speeds, helping to reconstruct the structure of the atmosphere, even though the planet is millions of billions of kilometres away from Earth. ESO/M. Kornmesser, CC BY
Why study the atmospheres of exoplanets?
WASP-121b is one of those giant gaseous planets with temperatures of over 1,000°C that are known as “hot Jupiters”. The first observation of these planets by Michel Mayor and Didier Queloz (which later earned them a Nobel Prize in Physics) came as a surprise in 1995, particularly because planetary formation models predicted that these giant planets could not form so close to their star. Mayor and Queloz’s observation made us realise that planets do not necessarily form where they are currently located. Instead, they can migrate, i.e., move around in their youth.
How far from their star do “hot Jupiters” form? Over what distances do these objects migrate in their infancy? Why did the Jupiter in our solar system not migrate toward the Sun? (We’re lucky it didn’t, because it would have sent Earth into our star at the same time.)
Some answers to these questions may lie in the atmosphere of exoplanets, which exhibit traces of the conditions of their formation. However, variations in temperature or chemical composition within each atmosphere can radically skew the abundance measurements that we are trying to take with large telescopes such as the James Webb. In order to exploit our measurements, we first need to grasp how complex these atmospheres are.
To do this, we need to understand the fundamental mechanisms that govern the atmosphere of these planets. In the solar system, winds can be measured directly by, for example, looking at how fast clouds move. On exoplanets, we cannot see any details directly.
In particular, “hot Jupiters” orbit so close to their stars that we cannot separate them spatially and take photos of the exoplanets. Instead, from among the thousands of known exoplanets, we select those that have the good taste to periodically pass between their star and us. During this “transit”, light from the star is filtered by the planet’s atmosphere, which allows us to measure the signs of absorption by different atoms or molecules. In general, the data we obtain are not good enough to separate the light that passes on one side of the planet from the other, and we end up with an average of what the atmosphere has absorbed. As conditions along the atmospheric limb (i.e., the slice of atmosphere surrounding a planet as observed from space) can vary drastically, interpreting the final average is often a headache.
This time, by using a telescope that, in effect, is larger than any other optical telescope on Earth, and combining it with an extremely precise spectrograph, we were able to separate the signal absorbed by the eastern side of the planet’s limb from the signal absorbed by the western side. This allowed us to measure the spatial variation of the winds in the planet.
The future of atmospheric study of exoplanets
Europe is currently building the next generation of telescopes, led by the ESO’s Extremely Large Telescope, which is scheduled for 2030. The ELT will have a mirror 30 metres in diameter, twice the size of the telescope we obtained by combining the light from the four 8-metre telescopes of the VLT.
This giant telescope will gather even more precise details about the atmospheres of exoplanets. In particular, it will measure the winds in exoplanets both smaller and colder than “hot Jupiters”.
But what we are all really waiting for is the ELT’s ability to measure the presence of molecules in the atmosphere of rocky planets orbiting in the habitable zone of their star, where water may be present in a liquid state.
The EXOWINDS project is supported by the French National Research Agency (ANR), which funds project-based research in France. Its mission is to support and promote the development of fundamental and applied research in all disciplines, and to strengthen the dialogue between science and society. For more information, visit the ANR website.
Vivien Parmentier received funding from the French National Research Agency (exowinds, ANR-23-CE31-0001-01).
Julia Victoria Seidel is an ESO (European Southern Observatory) Research Fellow.
