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Category: Europe

  • MIL-OSI Global: How poetry can help us understand mass extinction events

    Source: The Conversation – UK – By Kate Simpson, PhD Candidate, Extinction Studies, University of Leeds

    Photo by Bea Vallejo on Unsplash.

    Extinction is inevitable. Expected. Almost all (99%) species that have ever existed have died out. Those disappearances have largely occurred at consistent background rates. But in the context of mass extinctions, ecosystems are placed under immense pressure, at above-average speeds. Here, the language changes from the commonplace to the exceptional.

    The most recent of these events occurred at the end of the Cretaceous period, 66 million years ago, following an asteroid collision off the shore of Mexico. And 252 million years ago, at the Permian-Triassic boundary, Earth experienced its most severe loss of animal species to date when mass volcanisms pumped carbon into the air, suffocating life and acidifying oceans, killing off up to 96% of all marine species.

    It is widely accepted that we are currently witnessing the start of a sixth mass extinction. Humans are dramatic ecosystem engineers – irrevocably altering environments and habitats. Past extinction events offer clues about how the Earth has previously responded to being placed under such severe pressure.

    But how can we better understand this extinction? How does this knowledge reach us, as humans, readers, engineers?

    In my anthology Out of Time: Poetry from the Climate Emergency (2021), I argued that poetry has a unique power to explore the stakes and potential of a sixth mass extinction event. In poetry, each mechanism is part of a larger conceptual machine designed to evoke and provoke in boundless, generous ways. As I wrote, poetry “distils ideas … into their most refined and impacting state”. It’s “synaesthetic, with the freedom to join the senses and activate our understanding of a given subject in innate, unsettling, and inexplicable ways”. And it’s “economical … a compressed world ready to be opened up and expanded by the reader”.

    However, poetry is also a space of necessary complication and conflict, being both expansive and limited, affective and affected by human bias. As the poet Ben Lerner notes in The Hatred of Poetry (2016) “you’re moved to write … but as soon as you move from that impulse to the actual poem, the song of the infinite is compromised by the finitude of its terms … you’re back in the human world with its inflexible laws and logic”. This inflexible logic is invaluable, given that it shapes, defines and influences our actions on the planet.

    The geologist Marcia Bjornerud has attributed rapid anthropogenic destruction, and its role in triggering a sixth mass extinction event, to narrow perspectives and shallow, linear thinking. The solution, she suggests, is in attending to the layers of an ancient Earth, contextualising differing rates of change (or tempos) with a “polytemporal” worldview.

    In 2022, I joined the UK’s first Extinction Studies doctoral training programme. I sought to explore how, and to what extent, I could cultivate a “polytemporal” perspective through palaeontological study and poetic practice.

    I set out to understand how words can help us to develop a deeper frame of reference that not only acknowledges but attempts to conceive of immense timescales. This work has taken me from Iceland’s melting glaciers to the ancient geological formations of the Scottish small isles, exploring chronostratigraphic boundaries – sites where eras are thought to start and end.

    Engineering intersections

    Poetry and palaeontology both work with strata. Strata is both literal and literary, sedimentary and metaphoric: it is to be read, to be interpreted, to be imagined around. In poetry, lines function as units of meaning: they can be categorised and contained, but they are part of a larger whole. And in poems (unlike most prose) words offer as much meaning as the silence that surrounds them; the page is not blank, but a negative space through which words resonate, into which meaning is made, or borne from.

    As the poet Don Paterson writes: “Silence is the poet’s ground. Silence delineates the formal borders of the poem, and the formal arrangement of silences puts language under pressure … underwrites the status of the poem as significant mark”. Likewise, fossils offer as much meaning as the negative space that surrounds them, the sediment from which they are excavated. Absence is evidential. It may denote where species moved from extant to extinct. It may denote the environmental pressures that caused this.

    The poet Jorie Graham states that silence “is the sound of the earth … [it] does not need you to interrupt it”. It’s true. Earth, and its ecosystems, do not require us to write, do not require us to make meaning of the past: to name and categorise epochs, eras and events as they layer and compress into strata. However, if we are to alter ecosystems so exceptionally, it is required that we understand the deep time context of our actions, as well as how context provides meaning; how meaning provides emotional value; how emotions drive action.

    Poems are ecosystems that we engineer. They are not spaces where images are created, but where images are transformed from pre-existing vocabularies, cast into meaning against the blank space. Poems may not be so sufficiently affective or effective that they can bring an end to anthropogenic destruction. But, they do demonstrate, on a small scale, how nothing can be made, read, or understood in isolation. That human thinking is bound by certain margins: spatial, temporal, conceptual.

    To comprehend extinction requires us to know how imagination works; where it reaches its limits. Poetry, as an anthropogenic art and process, shows us how to read. Poetry shows us how to recognise connections that occur on both visible and invisible levels.

    Don’t have time to read about climate change as much as you’d like?

    Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.

    Kate Simpson receives funding from the Leverhulme Trust.

    – ref. How poetry can help us understand mass extinction events – https://theconversation.com/how-poetry-can-help-us-understand-mass-extinction-events-238813

    MIL OSI – Global Reports –

  • MIL-OSI Global: Starmer announces aid cuts to fund defence – but Britain’s days as an aid superpower are already long over

    Source: The Conversation – UK – By Balazs Szent-Ivanyi, Reader in Politics and International Relations and Deputy Director Aston Centre for Europe, Aston University

    Keir Starmer’s announcement that the UK will cut foreign aid in order to fund more defence spending seems like smart politics. With the US’s commitment to European security in question, it is clear that European countries, including the UK, need to spend more on defence.

    The US president, Donald Trump, with whom the prime minister is meeting on Thursday, has long called out Europeans for free-riding on America’s security guarantee. Credible promises of more British defence spending (including on American kit) may also deter Trump from introducing tariffs on UK imports.

    Building up the UK’s and Europe’s defence capabilities comes with a hefty price tag, and finding the money is tricky. The UK economy has weak growth prospects, and Labour has made a pledge not to increase taxes “on working people”. This leaves budget cuts in other areas as the only approach. The government seems to have decided that cutting foreign aid may be the least painful option for voters.

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    Foreign aid has generally been seen as an area of government spending which has relatively weak groups of domestic supporters. Charities and companies that directly benefit from aid spending through government contracts are a smallish group, and many receive funding from several sources.

    Hostility to aid among the general public is relatively high. According to a 2024 survey by the British Foreign Policy Group, 46% of Britons surveyed thought that UK aid should not return to its previous high of 0.7% of gross national income (GNI), or should be cut even further below the 0.5% at the time of that survey.

    A frequent argument made by successive British governments is that aid, by targeting poverty and conflict, can address the root causes of migration. The public, however, is sceptical about aid’s ability to reduce irregular migration or make the UK safer.



    Read more:
    Why many policies to lower migration actually increase it

    Although Labour voters are more positive about aid’s benefits, it is unlikely that the government would see any major electoral harm from reductions to the aid budget.

    Where aid is really used

    While cutting aid may be a smart move politically, it will have longer-term consequences for the UK’s global influence and its ability to achieve positive change in the world. Many charities were quick to point this out, arguing that it will hurt the lives of the poorest across the world.

    Aid is now set to shrink from 0.5% of GNI to 0.3%, which implies the UK will still have a substantial aid programme. On average, rich countries spent 0.37% of their GNI on aid in 2023 – not much more than what the UK will spend now.

    In practice, however, 23% of the British aid budget in 2023 was made up by Home Office spending on housing refugees in the UK. This is unlikely to decline quickly, even though the government has said it aims to reduce it. A further 34% consisted of contributions to multilateral organisations like the United Nations and World Bank. While there is scope to cut some of this, large savings are difficult without the UK leaving some organisations.

    Given these two fixed items, very little will remain for “genuine” development programmes in partner countries – the kind of funding that is actually visible as UK aid.



    Read more:
    The UK spent a third of its international aid budget on refugees in the UK – what it’s paying for, and why it’s a problem

    Such a small genuine aid programme will undoubtedly mean lower development impact and lower British influence. But the UK’s standing and soft power, particularly in poorer countries, was already in tatters well before Starmer’s announcement.

    The merger between the Foreign Office and Department for International Development in 2020, followed by budget cuts and the re-allocation of aid to the Home Office, has destroyed the UK’s reputation as an “aid superpower” and champion of the global poor.

    Across-the-board cuts have even devastated programmes which the UK has declared as priority areas, such as support for women and girls. Some would argue that after these cuts, the UK did not have much of a reputation left to lose.

    But this story of UK aid is not unique. Indeed, the world has entered a new era of aid fatigue. The populist right portrays aid as wasteful and ineffective, as shown by the Trump administration’s dismantling of the US Agency for International Development.



    Read more:
    USAID’s freeze has thrust the entire global aid system into uncertainty

    Many Africans see aid as a neocolonial enterprise aimed at spreading western ideologies, a sentiment often echoed by the progressive left. Western countries themselves are increasingly open about their selfish reasons for providing aid, such as boosting business, while many non-western donors have emerged as alternatives.

    It is not a surprise that the west’s influence in the world has waned, as evidenced by its failure to build a global anti-Russia coalition following the invasion of Ukraine.

    The UK will need to adapt to these realities. Designing a smarter and highly targeted aid programme, perhaps from the ground up, is now more important than ever to rebuild Britain’s reputation.

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

    – ref. Starmer announces aid cuts to fund defence – but Britain’s days as an aid superpower are already long over – https://theconversation.com/starmer-announces-aid-cuts-to-fund-defence-but-britains-days-as-an-aid-superpower-are-already-long-over-250873

    MIL OSI – Global Reports –

  • MIL-OSI Global: Ukraine war: why negotiations depend on trust

    Source: The Conversation – UK – By David J. Wilcox, Part-Time Teaching Fellow, Department of Political Science and International Relations, University of Birmingham

    Donald Trump may have begun discussions with the Russian president, Vladimir Putin, over a possible end to the war in Ukraine, but there currently appears to be something of a stalemate.

    Russia’s stated objectives of holding on to five regions of Ukraine (including Crimea) as well as ensuring Ukraine’s permanent neutrality is unlikely to be acceptable to Ukraine’s president Volodymyr Zelensky. Meanwhile, Zelensky and Trump had a very public falling out, with the US president calling Zelensky a “dictator”.

    This seems to have been resolved somewhat now that the pair appear to have agreed a deal for the US to jointly develop Ukraine’s mineral resources. But serious further negotiation to actually end the war will depend on whether the key players can trust each other as well as whether Zelensky perceives anything Putin and Trump have to say as believable.

    Broadly speaking, trust and its development between leaders offers a potential route to overcoming international conflict and bringing about diplomatic agreement. Indeed, a minimum level of trust is needed to enable states to work together.

    An example of this was how the relationship between Soviet leader Mikhail Gorbachev and US president Ronald Reagan developed. Arguably it was regular face-to-face interactions between Gorbachev and Reagan (four summits in just over three years) which allowed them to develop a level of understanding and increase trust, allowing them to reduce nuclear weapon stockpiles.

    Nevertheless, it still took time to develop their trust and this remained fragile.

    How is trust won?

    Trust is an important element in effective negotiations and can shape their outcome and influence whether peace talks are successful. The importance of trust in a negotiation can be found throughout history.

    US talks with Russia in Saudi Arabia, February 2025.

    Even if trust has potentially developed between leaders, if other individual decision-makers, such as military leaders, do not share that trust, it can seriously damage negotiations. One example of this is how the Lahore peace process between India and Pakistan in 1999 was undermined by Pakistani military action.

    General Pervez Musharraf, head of the armed forces, conducted a military incursion into the Jammu and Kashmir area, violating the treaty between the two states and leading to a breakdown in trust, undermining the peace deal signed earlier that year between the Pakistani prime minister, Nawaz Sharif, and his Indian counterpart, Atal Bihari Vajpayee

    Who do you trust?

    In international relations terms the key factors that create trust are considered by scholars to be capacity, peaceful intention, integrity and predictability . Trump seems to believe that Putin is a trustworthy negotiating partner because he perceives him as sincere in his desire for peace. This view is not shared by Zelensky, who questions Putin’s sincerity, intentions and integrity .

    Zelensky suggests that Putin’s past actions (including leading a full-scale invasion of Ukraine) point towards his future untrustworthiness. This may be underlined by Russia’s dismissal of the Minsk agreements of 2014 and 2015, which were an attempt to negotiate a peace deal between Russia and Ukraine but were never properly implemented. Instead of pursuing implementation, Russia chose further military action against Ukraine in 2022.

    To move forward with negotiations, Zelensky will need to be convinced that Putin is serious in his intentions and willing to act with integrity. The Ukrainian leader will also need to be convinced that Trump is trustworthy and that he can trust that the US will ensure that Putin honours any agreement reached.

    If Trump is to achieve his aim of bringing the war to an end, then he will clearly need to address this lack of trust. One temptation may emerge to simply exclude Zelensky from face-to-face meetings (to sidestep the issue altogether) but there are risks in leaders not meeting opponents.

    When it came to trying to reach an agreement with the Palestinians in the 1990s, the then Israeli prime minister, Yitzhak Rabin, regretted not having met the PLO chairman, Yasser Arafat, before reaching agreement on the framework for the Oslo accords because he would have better understood how Arafat saw the negotiations. The implication was that Rabin would have proceeded differently if he had known Arafat better.

    Alternatively, Trump could leverage his own relationship with Putin to “encourage” the Russian leader to take steps that demonstrate to Zelensky that he is a trustworthy negotiating partner. Crucially, it will be for Putin to demonstrate his seriousness and sincerity towards meaningful negotiations and a peaceful resolution. Gestures of conciliation could hold the key.

    One famous examples of this is when Egyptian president Anwar Sadat visited Jerusalem in 1978, becoming the first Arab leader to speak to the Israeli parliament. This was seen as vital to peace talks between the two countries and resulted in the 1979 Camp David accords.

    Face-to-face interactions between Putin and Zelensky could provide a way of reassuring the Ukrainian leader. However, much more is required to demonstrate that an individual or even a state is trustworthy than not.

    As Deborah Larson, professor of political science at the University of California, once said,: “People believe that a good person will never do anything bad, whereas a bad person can do occasional good as well as bad deeds. As a result, just one misdeed indicates that an actor is immoral, whereas one good act does not demonstrate much.”

    Another approach would be to start Russian-Ukrainian negotiations at a much lower level and develop them upwards (or in parallel to higher-level negotiations). Individuals representing the key decision makers could develop their own interpersonal relations, while working out how to bridge gaps between the different leaders.

    Any negotiations to end the war will rest ultimately on those two states and their leaders. Ignoring the interpersonal relationships and lack of trust between the two people who will sign off any agreement makes any agreement almost impossible.

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

    – ref. Ukraine war: why negotiations depend on trust – https://theconversation.com/ukraine-war-why-negotiations-depend-on-trust-250102

    MIL OSI – Global Reports –

  • MIL-OSI Global: Trump and Europe: US ‘transactionalism on steroids’ is the challenge facing leaders now

    Source: The Conversation – UK – By Andrew Glencross, Directeur d’ESPOL, Professeur de Science Politique, Institut catholique de Lille (ICL)

    Donald Trump has always been an avowed transactionalist rather than a transatlanticist. The author of The Art of the Deal made it clear during his first term as US president that he thought Nato was a bad deal for the US. He publicly berated European allies, notably Germany, for not spending enough on defence and leaving the US to pick up the tab.

    But with his Ukraine policy, Trump 2.0 is forcing Europeans to confront the previously unthinkable: an international order where the US is no longer an automatic ally of European security.

    Lord Ismay, the first secretary-general of Nato, quipped that the purpose of the transatlantic alliance was to “keep the Soviet Union out, the Americans in, and the Germans down”. For the following decades, Nato worked pretty much as intended. It provided the political and organisational basis for a significant US military presence, including an active US nuclear deterrent.

    The transatlantic alliance nevertheless witnessed some significant disagreements. In 1966, French president Charles de Gaulle forced US and other allied troops to leave French soil and withdrew from Nato’s integrated military command. The 2003 US-led invasion of Iraq generated enormous tension among Nato allies as France and Germany opposed American attempts to get UN backing for military action. Yet within months, these two countries made a major commitment to the Nato force that was deployed to Afghanistan for 20 years.

    Like any international organisation, Nato’s history thus reflects a mix of success, failure, and muddling through. Ukraine-Nato relations encapsulate this reality. In 2008, the US was pushing European allies to welcome Ukraine as a Nato member. Back then, it was the leaders of France and Germany who refused to back the proposal.

    No longer an ally

    In the aftermath of the 2014 Russian annexation of Crimea, Ukraine pursued a twin track of seeking EU and Nato membership. This strategy is based on the longstanding complementary nature of European integration and transatlantic collective security. Central and eastern European countries embraced this arrangement after the collapse of the Soviet Union, much to the displeasure of Vladimir Putin.

    But Trump’s actions since January have fundamentally called into question the reliability of the US as a European ally. His insistence on doing a minerals deal to guarantee that Ukraine pays back US support for the war effort is transactionalism on steroids. It is also a unilateral move that contradicts the multilateral approach for supporting Ukraine that the US coordinated via the Ukraine Defense Contact Group, an alliance of 57 nations founded in 2022.

    More worrying still is Trump’s break with the underlying common values underpinning Nato. An alliance committed to defending its territorial integrity, including through the use of its nuclear arsenal, requires a commitment to a higher political goal. Since the end of the cold war, that overriding objective has been defined as freedom and democracy.

    The second Trump administration does not even seem to want to pay lip service to these transatlantic values. Trump has labelled Ukraine’s president Volodymyr Zelensky a “dictator”. And at the latest UN summit, the US delegation voted with Russia, Belarus and North Korea against a resolution condemning Russia’s aggression against Ukraine.



    Read more:
    US says European security no longer its primary focus – the shift has been years in the making

    EU defence without the US

    Shell-shocked European leaders are adapting to this harsh new reality. An initial reaction, as illustrated by UK prime minister Keir Starmer and French president Emmanuel Macron, has been to promise more money for defence spending. This move constitutes a hedge: it ought to please Trump, while providing a platform for a future reconfiguration of European security.

    How to defend Europe is now an existential question rather than a purely material one. De Gaulle always insisted that Europe’s defence and foreign policy needed to serve its own interests rather than America’s. He lost that battle, but the newly elected German chancellor, Friedrich Merz, is sounding rather Gaullist in his recent calls for a more independent European security policy.

    Another move taken from de Gaulle’s playbook is the EU’s focus on defence industrial strategy. A strong technological and industrial base is a pre-requisite of an independent security policy, and with this in mind, the EU’s defence industry programme was announced in spring 2024. The details of this new policy are currently being hashed out, but are likely to include some type of “made in Europe” requirement.



    Read more:
    Ukraine: prospects for peace are slim unless Europe grips the reality of Trump’s world

    Europe has to renew its purpose

    What is clear is that an independent security policy for Europe is both costly and a political minefield – one reliable estimate puts the cost at 250 billion euros per year. Getting public backing for this big spending increase is not impossible, yet it means tough choices, as shown by Starmer’s cuts to the UK’s foreign aid budget.

    Trickier still is finding the leadership to coordinate defence spending and strategy. European decision-makers and the parties they represent are far from aligned over the need to find an alternative to the US security guarantee. Indeed, Polish president Andrzej Duda responded to Merz’s calls for greater EU independence from the US by offering to host the US troops currently based in Germany.

    Trump has shattered a number of European illusions. Creating a new European security architecture will depend on finding more than just cash – it needs a new shared objective, not just a repudiation of grubby transactionalism.

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

    – ref. Trump and Europe: US ‘transactionalism on steroids’ is the challenge facing leaders now – https://theconversation.com/trump-and-europe-us-transactionalism-on-steroids-is-the-challenge-facing-leaders-now-250836

    MIL OSI – Global Reports –

  • MIL-OSI: Turbo Energy Unveils SUNBOX Home Lite, the Next Generation in AI-Optimized, All-In-One Solar Energy Storage Solution for Residential Installations Throughout Spain

    Source: GlobeNewswire (MIL-OSI)

    VALENCIA, Spain, Feb. 26, 2025 (GLOBE NEWSWIRE) — Turbo Energy, S.A. (NASDAQ:TURB) (“Turbo Energy” or the “Company”), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, today proudly announced official market launch of the Company’s latest innovation in smart photovoltaic energy storage tailored for smaller residential installations – the SUNBOX Home Lite.

    Turbo Energy and Solar360 Introduce SUNBOX Home Lite, the Latest Innovation in All-In-One Solar Energy Storage Solutions

    SUNBOX Home Lite combines the sleek design and robust functionality of the original SUNBOX Home with a focus on homes requiring less than 15kh of solar energy storage. This cutting edge innovation is supported by Turbo Energy’s state-of-the-art cloud-based SaaS solution, which leverages Artificial Intelligence to provide intelligent data collection, optimized stored energy management and predictive analytics which provide real-time insight into weather and electricity price forecasts, solar panel performance, energy consumption and material cost savings opportunities.

    Turbo Energy has shipped 100 units to Solar360, which are available for immediate installation. A longstanding valued partner of Turbo Energy, Solar360, a joint venture of Repsol and Telefónica España, is engaged in the photovoltaic self-consumption business offering comprehensive solutions for individual customers; communities of neighbors; and companies, both SMEs and large corporations, through solar panel installations. In addition to the reach of its channels and its strength in operations and distribution, Telefónica contributes its technological expertise and IoT capabilities to provide differential optimization in the market. Repsol brings its experience in self-consumption and multi-energy in Spain, allowing them to offer customers a specific electricity rate that complements photovoltaic installations.

    Commenting on the launch of SUNBOX Home Lite, Alberto Jimenez, Director General del Segmento Masivo of Solar360, stated, “We chose Turbo Energy because it is a Spain-based company offering the industry’s most cutting-edge solar energy storage solutions – optimized with Artificial Intelligence. With the addition of SUNBOX Home Lite to Solar360’s growing line of Turbo Energy innovations, we are now empowered to address customer demand from smaller homeowners for solar energy storage solutions that have been specifically configured to satisfy their reduced energy storage requirements without having to sacrifice product quality, ease of installation and use and unmatched functionality.”

    Mariano Soria, Turbo Energy Chief Executive Officer, added, “We are excited to launch SUNBOX Home Lite in collaboration with Solar360. Since entering the self-consumption solar energy market, Solar360 has grown rapidly, demonstrating that it understands how to read the needs of its customers and earning the reputation of being a true expert in the area of photovoltaic installations.”

    Continuing, Soria said, “The market introduction of SUNBOX Home Lite not only enhances our Company’s growing line of proprietary all-in-one product offerings, but also reinforces our commitment to making affordable, sustainable energy accessible to every household. This is yet another testament to our mission of providing solutions that not only meet, but consistently exceed, the expectations of our customers and business partners. As a result, SUNBOX Home Lite is expected to measurably contribute to Turbo’s future growth and further extend and enhance our Company’s industry reputation as a customer-centric innovator of smart photovoltaic storage solutions.”

    About Turbo Energy, S.A.

    Founded in 2013, Turbo Energy is a globally recognized pioneer of proprietary solar energy storage technologies and solutions managed through Artificial Intelligence. Turbo Energy’s elegant all-in-one and scalable, modular energy storage systems empower residential, commercial and industrial users expanding across Europe, North America and South America to materially reduce dependence on traditional energy sources, helping to lower electricity costs, provide peak shaving and uninterruptible power supply and realize a more sustainable, energy-efficient future. A testament to the Company’s commitment to innovation and industry disruption, Turbo Energy’s introduction of its flagship SUNBOX represents one of the world’s first high performance, competitively priced, all-in-one home solar energy storage systems, which also incorporates patented EV charging capability and powerful AI processes to optimize solar energy management. Turbo Energy is a proud subsidiary of publicly traded Umbrella Global Energy, S.A., a vertically integrated, global collective of solar energy-focused companies. For more information, please visit www.turbo-e.com.

    Forward-Looking Statements

    Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of the business of the Company, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control, including the risks described in our registration statements and annual report under the heading “Risk Factors” as filed with the Securities and Exchange Commission. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and Turbo Energy, S.A. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

    For more information, please contact:
    At Turbo Energy, S.A.
    Dodi Handy, Director of Communications
    Phone: 407-960-4636
    Email: dodihandy@turbo-e.com

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  • MIL-OSI United Kingdom: ESFA Update: 26 February 2025

    Source: United Kingdom – Executive Government & Departments

    Correspondence

    ESFA Update: 26 February 2025

    Latest information and actions from the Education and Skills Funding Agency for academies, schools, colleges, local authorities and further education providers.

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  • MIL-OSI United Kingdom: New Council Tax Reduction Scheme more equitable to support those in need

    Source: City of Salford

    Salford City Council’s Council proposals to make significant changes to its Council Tax Reduction (CTR) scheme are now approved and come into effect on 1 April 2025.

    Council Tax Reduction (CTR) is the way that councils help households on low incomes to pay their council tax bill. Residents were consulted on the proposals for the new scheme which will play a vital role in alleviating financial pressures for vulnerable households.

    The new, fairer and more flexible income-banded scheme in place for 2025/26 only assesses on income available to pay general bills. It uses Universal Credit notifications from the Department for Work and Pensions as the main way to determine household eligibility for CTR. 

    This change reduces the burden on the claimant, minimising the risk of them missing out on support and aligns with the move of most benefits to Universal Credit.

    Lead Member for Finance, Support Services and Regeneration, Jack Youd, said: “We’re proud to have created a more equitable scheme which targets support to those in need, in line with our priority to tackle poverty and inequality. 

    “Our new scheme uses the Universal Credit breakdown to identify those with the lowest income available for general expenses and bills so the assessment of eligibility is fair across all claims and household types. 

    “Providing different income bands for different household make-ups recognises differences in expense levels as well as capacities and limitations for earning and accessing more income. This creates more stability in the amount of support a household will receive.

    “By simplifying the eligibility and assessment criteria and enabling the claim to be driven by the Universal Credit claim, we can provide more certainty to recipients. 

    It also helps us get on the front foot with early intervention and prevention of debt in line with the council’s anti-poverty strategy.”

    Visit www.salford.gov.uk/counciltaxreduction for more information about the new scheme.

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    Date published
    Wednesday 26 February 2025

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    MIL OSI United Kingdom –

  • MIL-OSI Russia: Marat Khusnullin: 39 bypasses built and reconstructed thanks to the national project “Safe High-Quality Roads”

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Lobnya Bypass, Moscow Region

    February 26, 2025

    Bypass of Verkh-Tula village, Novosibirsk region

    February 26, 2025

    Bypass of Ruzaevka, Republic of Mordovia

    February 26, 2025

    Bypass of the village of Chikola, Republic of North Ossetia – Alania

    February 26, 2025

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    Lobnya Bypass, Moscow Region

    Construction and reconstruction of bypasses of populated areas allow to create alternative routes for transit transport. Over the six years of the national project “Safe High-Quality Roads”, 39 bypasses have been built and reconstructed. This was reported by Deputy Prime Minister Marat Khusnullin.

    “In road activities, we pay great attention to the construction of bypasses around populated areas. Such roads help to significantly relieve cities and towns from transit transport, and also improve the environmental situation there. This undoubtedly has a positive effect on the quality of life of people and increases the efficiency of transport communications in the regions. From 2019 to 2024 inclusive, 39 bypasses were built and reconstructed under the national project “Safe High-Quality Roads”. This work will continue, including under the new national project “Infrastructure for Life”. By 2030, on the instructions of the President of Russia, it is planned to build more than 50 bypasses around populated areas,” said Marat Khusnullin.

    Bypass roads solve a number of important social and economic problems.

    “In 2024, eight bypass sections were put into operation on the federal road network of Rosavtodor, their total length was 367.7 km. In particular, a bypass was built around five settlements (Isametovo, Verkhneyarkeevo, Layashty, Ishkarovo and Asyanovo) on the M-7 Volga highway in the Republic of Bashkortostan. Thanks to such facilities, a number of important tasks are solved: they allow transit transport to leave the boundaries of the settlement, and drivers can get to their destination faster. Bypass roads help reduce the risk of accidents and, importantly, improve the environmental situation in the settlement itself. In addition, the construction of such facilities can stimulate the development of adjacent territories, creating new opportunities for business,” said Transport Minister Roman Starovoit.

    A great deal of work on the construction and reconstruction of bypasses around populated areas is also being carried out on the regional road network.

    “In 2024, four sections of bypass roads around populated areas were put into operation, which is almost 135 km. In addition, construction and installation work has been completed on several more bypass roads: traffic on them has already opened, the facilities will be put into operation this year. The implementation of such large-scale projects became possible thanks to the effective work of the road workers’ team, as well as the constructive interaction of federal and regional authorities. It is this approach that allows us to successfully solve problems of improving the quality of life of people,” said Igor Kostyuchenko, Deputy Head of the Federal Road Agency.

    In 2024, the construction of the third stage of the northern bypass of Lobnya – a roundabout on Rogachevskoye Highway – was completed in the Moscow Region. The length of the facility is 1.5 km, the total length of the northern bypass of Lobnya is 16.5 km. There are six traffic lanes, the capacity of the highway is over 120 thousand cars per day.

    In 2024, the Republic of Mordovia opened traffic on the second stage of the Ruzayevka bypass (4.1 km). It became one of the connecting links to ensure non-stop high-speed communication in the advanced development area. The road allows connecting two important transport arteries of the republic – the federal highway R-158 and the regional Saransk – Ruzayevka. The bypass significantly reduces the travel time of residents, and also takes the transit freight flow outside the city.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Marat Khusnullin: More than 94 thousand people have moved from dilapidated housing in the Central Federal District since 2019

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Work to reduce the emergency housing stock is being carried out in all federal districts of Russia. In the regions of the Central Federal District, since 2019, when the implementation of the national project “Housing and Urban Environment” began, houses unfit for habitation with an area of 1.6 million square meters have been resettled. This was reported by Deputy Prime Minister Marat Khusnullin.

    “Resettlement of people from dilapidated housing, improving their quality of life is the task that the President of the country set for the construction complex of Russia. Deterioration of houses is a constant and, unfortunately, irreversible process. Therefore, work continues to solve this problem through joint efforts of the federal center and regions. For example, in the Central Federal District since 2019, more than 94 thousand citizens have been resettled from dilapidated houses. The unsuitable housing stock has decreased by 1.6 million square meters. Since 2025, these tasks are being addressed within the framework of the new national project “Infrastructure for Life”, – said the Deputy Prime Minister.

    According to Marat Khusnullin, in the Central Federal District the largest number of citizens who moved from dilapidated houses are in the Moscow region (26 thousand people), Vladimir region (9.14 thousand people), Tula region (7.6 thousand people) and Lipetsk region (7.3 thousand people).

    The General Director of the Territorial Development Fund, Ilshat Shagiakhmetov, recalled that the regions also launched their own mechanisms, which accelerated the implementation of the resettlement program.

    “Among the first subjects to complete the task of resettling citizens from emergency housing recognized as such before January 2017 are Voronezh, Ivanovo, Smolensk and Tula regions. Last year, they already began resettling houses recognized as unsuitable after 2017. Together, they resettled 36.2 thousand square meters of such housing. In January of this year, Kursk Region also completed the program of resettling citizens from emergency housing identified before 2017,” said Ilshat Shagiakhmetov.

    The program for resettling citizens from emergency housing stock is supervised by the Russian Ministry of Construction. Its operator is the Territorial Development Fund.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Discover the future in transport with the new bachelor’s degree program at GUU!

    Translartion. Region: Russians Fedetion –

    Source: State University of Management – Official website of the State –

    The State University of Management announces the launch of a new bachelor’s degree program “Transport Systems Management” to train a new generation of management engineers.

    This engineering and management program is implemented within the framework of the direction 23.03.01 “Technology of transport processes”. The main goal is to train qualified engineers-managers who will understand the functioning of enterprises in the transport sector, improve their efficiency and implement innovative solutions.

    It should be noted that the training of specialists in the field of transport education has been carried out at our university since 1940 on the basis of our own unique system.

    The new program was carefully developed by specialists from the Department of Transport Complex Management and was announced back in the spring of last year.

    “Transport Systems Management” is a unique educational product that combines engineering knowledge, industry expertise in the field of transport, management training, end-to-end digital competencies and project-based learning.

    Engineering training is implemented on the basis of the modern and developing infrastructure of the State University of Management, including the Center for Engineering Project Management and the Center for Intellectual Property and Technology Transfer.

    Why choose the Transport Systems Management program at the State University of Management?

    1. Integrated approach: the program combines engineering knowledge with the management skills necessary for a successful career in the modern transport industry. 2. Relevant expertise: the curricula are developed taking into account market requirements and are built on the basis of a process approach to the activities of transport organizations. 3. Practical focus: training is closely related to the real tasks facing transport companies. 4. Partnership with industry leaders: the program is implemented with the active participation of leading employers: Avtostruktura LLC, Tekhnotrade LLC, and Mostransagentstvo JSC. 5. Employment opportunities: successful students can receive job offers from leading companies in the automotive business, such as GUP MO Mostransavto, GUP Mosgortrans, OAO Mostransagentstvo, GC Rolf, OOO Avtostruktura, OOO Klyuchavto, OOO GLT, OOO Tekhnotrade, OOO PEK, Automobile Group Avilon, Transport Association of the Moscow Agglomeration (Association TAMA), OOO Torg-Koms, OOO Hussmann, OOO Ecolife, GUP Moscow Metropolitan, AO IERT, AO Central Suburban Passenger Company, MAZ Moskvich and others.

    What will students learn by pursuing the Transportation Systems Management program?

    The program will cover a wide range of disciplines covering key aspects of transport systems management: 1. Transportation organization: freight, international transportation, leasing of transport equipment, transportation insurance. 2. MAAS (Mobility Management): passenger transportation, navigation services. 3. Analytics and transport consulting: digital transport technologies, transport telematics, intelligent transport systems. 4. Public sector: transport supervision, vehicle evacuation, transportation of hazardous goods, regional transport departments. 5. Green transport: collection, transportation, sorting and disposal of solid municipal waste. 6. Transport engineering: supply chain management of manufacturing companies, engineering graphics, design of transport equipment.

    Take the first step towards a successful career in the dynamic and promising field of transport, enroll in the Transport Systems Management program at the State University of Management!

    Details of the educational program can be found on the official website.

    Subscribe to the TG channel “Our GUU” Date of publication: 02/26/2025

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Europe: President Meloni meets with the Swedish Prime Minister

    Source: Government of Italy (English)

    26 Febbraio 2025

    The President of the Council of Ministers, Giorgia Meloni, met today with the Prime Minister of Sweden, Ulf Kristersson, at Palazzo Chigi. Following their meeting, the two leaders issued statements to the press.

    [[Press statements – Original audio]]

    MIL OSI Europe News –

  • MIL-OSI Security: Man jailed for importing drugs into prison

    Source: United Kingdom London Metropolitan Police

    A man has been jailed for flying drones containing drugs, tobacco and phones into prisons in London and across the south-east.

    Mahamood Diallo Blin, 26 (19.11.98) of Charlton Church Lane, Greenwich was sentenced to six years and 11 months’ imprisonment on Monday, 24 February at Snaresbrook Crown Court.

    Blin previously pleaded guilty at the same court to conspiracy to convey Class A drugs, conspiracy to convey mobile phones as well as conspiracy to convey tobacco.

    A Met Police investigation was launched in August 2023 after prison staff discovered a drone that had crashed inside HMP Pentonville containing drugs and mobile phones. Detectives linked the drone to a previous incident where it had crashed into HMP Coldingley in Surrey a year prior.

    A joint investigation began involving the Met Police and the South East Regional Organised Crime Unit which identified 37 incidents of drugs, tobacco and mobile phones being flown into prison in the local area.

    Blin was later charged in connection with these crimes and other offences on Tuesday, 5 March 2024.

    Senior investigating officer Detective Inspector Zara Baker, from the Met’s Specialist Crime Command, said: “The Met is focused on tackling drug dealing as we know it fuels other crime and anti-social behaviour across London.

    “Smuggling illegal drugs into prison increases the risk of violence towards those working within prisons and to other inmates. It adds to the struggles faced by those affected by addiction and attempting to rehabilitate while serving their sentences.

    “Blin’s sentence reflects the seriousness of the offences he committed and I hope his sentence sends a clear message that offenders will be brought to justice. We will continue to work closely with His Majesty’s Prison Service, South East Regional Organised Crime Unit and the Crown Prosecution Service to tackle serious organised crime and target those who profit from the crime at the expense of others.”

    A spokesperson from the South East Prison Intelligence Unit in SEROCU, said: “Tackling the issue of conveyance of drugs and other illicit items into prisons using drones is one of our priorities.

    “By working closely with both the Metropolitan Police Service and HM Prison & Probation Service we have been able to ensure that someone who was prolifically using drones to fly prohibited items into the prison estate with complete disregard for the harm this caused, has been stopped in his tracks.

    “We will continue to work together to disrupt this activity which fuels organised crime.”

    If you have any information about criminality involving drugs, please call your local police force on 101 or contact the independent charity Crimestoppers on 0800 555 111.

    MIL Security OSI –

  • MIL-OSI: Scality sees record channel partner and revenue growth as demand for cyber-resilient storage soars

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Feb. 26, 2025 (GLOBE NEWSWIRE) — Scality, a global leader in cyber-resilient storage software for the AI era, today announced significant growth of its global partner ecosystem, which has doubled in size year-over-year. A channel-first strategy fueled Scality’s exceptional growth rate, with Q4 2024 alone seeing a record breaking 60% of sales driven by the VAR community. Scality’s VAR channel is now the top driver of sales for the ARTESCA product line, augmenting the continued strong business growth seen through its strategic alliance with HPE. Coinciding with this impressive channel growth, Scality also announced winners of its second annual 2024 Partner Awards Program (listed below) that recognizes partners in global regions that have demonstrated outstanding promise and customer engagement.

    The Scality global partner ecosystem includes a range of VARs, Cloud and Service Providers, hardware alliance, application solution providers and strategic distributors committed to delivering industry-leading, cyber-resilient storage backup solutions to customers worldwide. The unprecedented growth of the company is 100% directly driven by its partner go-to-market strategy, which includes strategic partners such as HPE and Veeam Software, and now sees the VAR ecosystem playing a more prominent role in the company’s growth.

    “Our partners are essential to our success, and we’re committed to helping them grow by unlocking new revenue streams,” said Eric LeBlanc, Channel Chief & GM of Scality’s ARTESCA Business. “With 400+ channel partners and over 1,000 Scality certified partner personnel worldwide, we empower them through innovation, simplicity, and partner-focused solutions. Partners can sell both RING and ARTESCA, with ARTESCA specifically driving a high-velocity sales model for simple ransomware protection through industry leaders like Veeam, making it easier to drive incremental revenue and pipeline growth.”

    Scality partner milestones that contributed to doubling the company’s qualified pipeline which resulted in record sales in 2024 include:

    • The number of certified partners doubled in EMEA and APAC, significantly expanding the company’s global reach.
    • Signed 3 of the top worldwide distribution partners, including Ingram Micro, TD SYNNEX, and Arrow Electronics to bolster market presence.
    • The launch of the ARTESCA hardware appliance and the introduction of a Pay-As-You-Go pricing model through distribution created new revenue stream opportunities for partners. The Scality Cloud and Service Provider (SCSP) program allows partners to submit monthly consumption reports to Scality, enabling automated invoicing and streamlined agreements. Distribution partners operate this model seamlessly, ensuring efficiency.

    Scality expands ‘channel partner of the year’ honors in 2024
    To showcase the exceptional results achieved by partners, Scality also announced winners of its second annual global partner awards program. Building on last year’s initiative that honored 10 global partners, this year’s winners showcase 22 out of more than 400 worldwide partners as either a Top Performer or Rising Star Award winner this year. The expanded list of partner winners this year reflects the explosive growth of the company’s partner network. Ten partners were named as 2024 Top Performers, demonstrating their strategic alignment to Scality’s go-to-market objectives and resulted in direct contribution to revenue growth through successful sales engagements. These partners also helped customers go beyond immutability to achieve end-to-end cyber resilience with their backup storage solution. Twelve partners received the 2024 Rising Star nod, showcasing an exceptional commitment to growth and innovation. These partners also implemented effective marketing campaigns that drove growth in sales engagement. Please see the full list of Scality’s 2024 Partner Award winners below and here on LinkedIn.

    Scality is the only 100% software-defined storage company leading the Gartner Magic Quadrant for distributed file systems and object storage for nine consecutive years. Scality RING was recently ranked as #1 on the 2024 GigaOm Radar for Enterprise Object Storage — achieving the highest scores across Key Features, Emerging Features and Business Criteria categories, well ahead of 17 competing vendors. This market validation, coupled with Scality’s disruptive product innovation and partner-first growth strategy, has accelerated Scality solutions’ deployment, anchored by a growing list of global distribution partners and across a variety of industries, including banking, healthcare and government entities to name a few.

    Scality Partner of the Year Award Winners

    Top Performers
            ACP Gruppe
            ATK (Kazakhstan)
            Bechtle Schweiz AG
            C-DATA
            CONVERGE S.r.l.
            DTP Group
            MONT Azerbaijan
            M2 Technology Inc.
            Perfekt Pty Ltd
            Trustteam Belgium

    Rising Stars
            Autodata
            Infinitum S.A.
            Infradax
            IT Global
            NetPlans GmbH
            Novulutions, Inc.
            ODB Trade
            Roseware Corp.
            Savaco
            TeraSky
            Thein Digital s.r.o
            Virtualflex Solutions Limited

    https://www.scality.com/find-a-channel-partner/

    About Scality
    Scality solves organizations’ biggest data storage challenges for the new AI-era — security, performance, and cost. Designed to provide the strongest form of immutability plus end-to-end cyber resilience, Scality solutions safeguard data at five core levels for unbreakable ransomware protection. Delivering utmost resilience, Scality makes storage infrastructures limitlessly scalable in all critical dimensions. The world’s most discerning companies trust Scality so they can grow faster and execute AI data-driven ideas quicker — while increasing efficiency and avoiding lock-in. Scality S3 object storage software is reliable, secure and sustainable. Follow us on LinkedIn. Visit www.scality.com and our blog.

    Media Contact:
    Lisa Williams
    A3 Communications
    +1 339-788-0067
    lisa.williams@a3communicationspr.com

    The MIL Network –

  • MIL-OSI United Kingdom: Government responds in full to Grenfell Tower Inquiry, setting out tough new reforms to fix building safety and strengthen accountability 

    Source: United Kingdom – Executive Government & Departments

    Press release

    Government responds in full to Grenfell Tower Inquiry, setting out tough new reforms to fix building safety and strengthen accountability 

    In the full response to the Grenfell Tower Inquiry’s final report today (26 February), the government has accepted the findings and sets out its plans to act on all 58 recommendations.

    • Sweeping construction, building and fire safety reforms set out as government accepts findings and takes action on all 58 recommendations in the Grenfell Tower Inquiry’s final report   

    • Tough new rules on construction product safety, backed by a strengthened regulator to stamp out bad practice and drive higher standards 

    • Debarment investigations to be launched for seven organisations named in the report using tough new procurement powers 

    • Stronger, more enhanced protections for social tenants, including by empowering them to challenge landlords and demand safe, high-quality housing 

    Tough new reforms to ensure all homes are safe, secure and built to the highest standards will benefit millions of people across the country as the government takes decisive action to tackle the failures that led to the devastating Grenfell Tower tragedy – which resulted in the loss of lives of 72 innocent people. 

    In the full response to the Grenfell Tower Inquiry’s final report today (26 February), the government has accepted the findings and sets out its plans to act on all 58 recommendations, driving a sweeping transformation to enhance building and fire safety standards.   

    Under the proposals, industry will be held to account for failure, with new regulatory measures to prevent a tragedy like the events at Grenfell Tower from ever happening again.   

    The Deputy Prime Minister Angela Rayner said:   

    The Grenfell Tower tragedy claimed 72 innocent lives in a disaster that should never have happened. The final report exposed in stark and devastating detail the shocking industry behaviour and wider failures that led to the fire, and the deep injustices endured by the bereaved, survivors, and residents. 

    We are acting on all of the Inquiry’s findings, and today set out our full response, detailing the tough action we are taking to drive change and reform the system to ensure no community will ever have to face a tragedy like Grenfell ever again.   

    That means greater accountability, stronger regulation, and putting residents at the heart of decision-making. We must deliver the fundamental change required. We owe that to the Grenfell community, to the country, and to the memory of those who lost their lives.

    The Grenfell Inquiry’s final report exposed a system that ignored safety risks and failed to listen to residents. The report laid bare ‘systemic dishonesty’ in the industry, failures in the construction sector and by successive governments, and poor regulation in the run up to the disaster. 

    The government has apologised on behalf of the British state for its part in these failings and introduced significant changes to fix the worst issues exposed by the tragedy.   

    Reforms set out today include:

    • A new single construction regulator to ensure those responsible for building safety are held to account.   

    • Tougher oversight of those responsible for testing and certifying, manufacturing and using construction products with serious consequences for those who break the rules. 

    • A legal duty of candour through a new Hillsborough Law, compelling public authorities to disclose the truth, ensuring transparency in major incidents, and holding those responsible for failures to account.  

    • Stronger, clearer, and enforceable legal rights for residents, making landlords responsible for acting on safety concerns. 

    • Empowering social housing residents to challenge landlords and demand safe, high-quality housing, by expanding the Four Million Homes training programme. Make it easier for tenants to report safety concerns and secure landlord action by taking forward the Make Things Right campaign. 

    • Ensuring lasting transparency and accountability by creating a publicly accessible record of all public inquiry recommendations. 

    As well as changes in regulation, in December 2024, the government launched its Remediation Acceleration Plan which sets out tough new measures to get buildings fixed quicker and ensure rogue freeholders are held to account.   

    Building Safety Minister Alex Norris said:   

    The Grenfell Tower fire was a preventable tragedy, and the failings it exposed demanded fundamental change. 

    Our response today to the Inquiry’s findings sets out a comprehensive plan to reform the construction sector, strengthen oversight and make sure that residents are the priority when deciding on building safety issues. 

    We will continue working closely with industry, local authorities and the Grenfell community to make sure these reforms deliver real, lasting change and rebuild trust.

    Supplier Accountability  

    Today the government set out the next steps of its review to identify where the Inquiry’s report found failings by specific named organisations in relation to the Grenfell fire. 
     
    New powers under the Procurement Act will be used to investigate seven of the organisations criticised in the report. If certain grounds are met, their names will be added to a published debarment list which must be taken into account by contracting authorities when awarding new contracts.  

    A legacy of justice for the Grenfell community   

    The government remains fully committed to supporting the bereaved families, survivors and residents long-term, as well as to working with the independent Grenfell Tower Memorial Commission to ensure a fitting and lasting memorial, determined by the community. This will serve as a permanent tribute to honour those lives lost and those whose lives were changed forever.   

    The transformation set out today is not only about fixing the failures of the past but about ensuring a safer future for generations to come. The highest safety standards will be embedded into the 1.5 million homes the government is committed to delivering this Parliament, ensuring that every new home meets robust safety requirements.  

    The government response makes clear there is still much more to do and is committed to taking decisive action in response to every recommendation.    

    Notes to editors:

    • The government’s progress towards implementing Inquiry recommendations will be published every quarter from mid-2025. We will also provide an annual update to Parliament to ensure wider scrutiny of the pace and direction of work.  

    • We will deliver reform using a phased approach over the course of this Parliament, bringing together the recommendations directed at government and wider reform as coherent packages. The first phase (2025 to 2026) will focus on making sure that we effectively deliver our current programme of regulatory reform and change. The second phase (2026 to 2028) will focus on having fully developed proposals to deliver recommendations and wider reform, including via legislation. From 2028 onwards, the Government will focus on implementing these reforms.   

    • We will keep the new system under review to evaluate its effectiveness and ensure it is delivering the intended improvements to residents’ lives. We will make sure that we are taking on residents’ feedback as part of this.  

    • This response marks the start of a new relationship between government and industry that is based on transparency, clarity, collective responsibility and external scrutiny. We will hold actors in the system to account, effectively enforce standards, steward the highest standards of culture and behaviour and facilitate transparent conversations. However, we also expect industry to take responsibility to instil this change.  

    • Safe housing is not a privilege but a fundamental right, and these reforms will ensure that right is upheld in every community. A green paper is also being launched today which includes detailed proposals for system wide reform of the construction products regime.  

    • Debarment investigations into the organisations are set out in today’s Written Ministerial Statement.  

    • The government will continue to support for the Metropolitan Police’s independent investigation, ensuring that those responsible for the failures leading to the tragedy are held to account. 

    Other measures include:

    • Raising standards by consulting on a new College of Fire and Rescue later in 2025 to improve training and professionalism of firefighters. 

    • Stopping unqualified individuals from making critical fire safety decisions, by legally requiring fire risk assessors to have their competence certified. 

    • Continuing implementation of new Residential PEEPs policy to improve the fire safety and evacuation of disabled and vulnerable residents in high-rise and higher-risk residential buildings, engaging with relevant stakeholders on the implementation.

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Media Release – Hustings Thurs 6 March 2025 Wednesday 26 February 2025

    Source: Channel Islands – States of Alderney

    Hustings on Thursday 6 March 2025 for election of two States Members

    I will be hosting a Hustings on the 6th of March in the Island Hall.

    The candidates will be available in the Anne French Room at the Island Hall from 5.30pm to 6.45pm, to answer questions on a one-to-one basis.

    At 7.00pm I will chair a “Question Time” format for a maximum of 90 minutes.

    Members of the community are invited to submit questions in advance to me.

    The topics that receive the most number of questions will, time permitting, be put by one member of the community on behalf of all those who have submitted a question on the same topic.  All four candidates will be asked to respond to each question.  Members of the community are invited to submit their questions to my office on president.alderney@gov.gg by 5pm on Tuesday 4th of March.

    It is not intended to share the questions in advance.  This will enable those who attend to assess the strengths and potential weaknesses of each candidate in order to assist in deciding where to place their votes.

    It is hoped that the combination of both formats will provide the best opportunity for the candidates to persuade the members of the community who attend to vote for them.

    Whether selected to ask a question or not, all members of the community are invited to attend.

    William Tate, President

    Note to editors:For further information please contact The President’s Office by telephoning 01481 820001 or by email topresident.alderney@gov.gg.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Health trainers launch weekly drop-ins across city

    Source: City of York

    City of York Council’s Health Trainer team have launched new weekly drop-ins at 3 Explore libraries across the city.

    They’re offering help and advice for anyone wanting to stop smoking, lose weight, lower their drinking or get more active.

    The team already provide residents with programmes of one-to-one confidential support, as well as working with groups in the community, providing training and attending events. Residents can self-refer for the CYC Health Trainers service online, or by calling telephone: 01904 553377.

    Now they hope the weekly face-to-face drop-ins at Explore libraries will enable people to find out more about the service at easy-to-reach locations:

    Visitors to the drop-ins can find out York’s Swap2Stop offer, and smokers can try a simple breath test to find out how much carbon monoxide is in their blood.

    The Swap2Stop offer provides York residents aged over 18 with either:

    • a free, 4-week vape starter kit that will be posted out to them
    • or a 10-week programme of one-to-one support with free vapes or nicotine replacement products

    Recent figures showed the team were providing the most effective stop smoking service in the country, with 82% of people who set a quit date with the service having successfully stopped smoking 4 weeks after that date.

    Since the Swap2Stop offer was launched, aimed at encouraging smokers to make the switch from smoking to vaping to improve their health, referrals to the service have more than doubled.

    Glyn Newberry, Health Trainer Service Manager, at City of York Council, said:

    Anyone interested in finding out more about our service or who needs general advice about improving their health can now drop in and speak to one of our friendly and experienced health trainers in an informal setting.

    “Hundreds of clients across the city have already benefited from the service we provide and we want to reach even more people to help them live healthier lives. Come and find out about our Swap2Stop offer and all the other ways in which we can support you – for free!”

    Jenny Layfield, Chief Executive of York Libraries and Archives, said:

    We’re delighted to be working in partnership with the Health Trainer team. We hope that by offering these drop-ins in our busy and welcoming spaces, even more York residents will take advantage of this supportive and valuable free service.

    Residents can find out more about the CYC Health Trainers service online, or by calling telephone: 01904 553377.

    Find out more about the Swap2Stop offer.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: HSBC Leader Encourages York Businesses to embrace ‘Fourth Industrial Revolution’

    Source: City of York

    HSBC UK’s Head of Technology Sector has encouraged York businesses to adapt to thrive in the climate of ‘functional disruptive change’ represented by the rapid development of AI.

    In his keynote address to over 60 businesses at the first York Tech Forum on 13 February, Roland Emmans from HSBC UK explored the fast-moving tech landscape and underlined the importance for businesses of all shapes and sizes of keeping pace with rapid technological change.

    Roland Emmans said:

    AI has vast potential to help businesses solve challenges and serve their customers better. The pace of change is increasing day by day, we need to embrace this change, its impact on technology, our teams and consumer demands.

    “A combination of great technology and great people is key – leveraging complementary strengths like AI’s processing power alongside expert human judgement.”

    The event, held at City of York Council’s West Offices headquarters on Thursday 13 February, began with a welcome from Cllr Pete Kilbane, the council’s portfolio holder for Economy and Culture, who reflected on how York’s tech sector has thrived in recent years.

    Cllr Kilbane highlighted major local developments, from the Institute for Safe Autonomy, a £45 million purpose-built facility which launched at the University of York in 2023, to the 6G Lab of the North, which works with the next generation of innovative telecommunications systems.

    Attendees also heard from Doug Winters, Founder and CTO of Isotoma Ltd, a York-based software development agency. Doug shared challenges and lessons from his business’ 20 year-journey, advising businesses that AI technologies, while useful for businesses, need to be used according to the situation, and are not a ‘silver bullet’ Doug also shared tips on the value of continuous planning throughout a project. 

    Cllr Pete Kilbane, Executive Member for Economy and Culture at City of York Council, said:

    We have big ambitions for York as a vibrant tech hub. Tech sector investment will bring well-paid jobs and marked economic benefits.

    “To truly embrace the benefits of rapid technological change, we need to help businesses in all sectors, from retail to rail, adapt to using technology to become more efficient, innovative, resilient and sustainable. This event is part of a series which includes our upcoming AI skills training for retail and hospitality businesses, delivered by our partners at the Coders Guild, and the Reignite events which have bolstered York’s status as a UNESCO City of Media Arts.

    “I’d like to thank all of our speakers and everyone who joined us for this inspiring and thought-provoking session. To find out more about how we can support businesses to grow and adapt to technological change, start a conversation with our Business Growth Managers at economicgrowth@york.gov.uk.”

    This event was funded by the UK government through the UK Shared Prosperity Fund.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Enforcement cameras brought in to combat illegal cycle lane parking in South Manchester

    Source: City of Manchester

    Portable enforcement cameras are being brought in to combat inconsiderate motorists who park illegally in cycle lanes.

    The Chorlton to Manchester Cycleway is one of the Council’s flagship cycling schemes. Providing a segregated cycling experience from a district centre to the heart of Manchester has been a key example of the Council’s commitment to providing people additional ways of travelling.

    Unfortunately since the scheme’s completion it has been noted that a small minority of motorists have chosen to park across the cycle lane, blocking its intended purpose.

    Not only is this illegal, but it is dangerous as it forces cyclists into the road to get around. For anyone in a wheelchair, with mobility issues or a pram this is especially hazardous, and something we want to avoid wherever possible.

    In response to concerns raised by residents this is why from March 3, enforcement cameras will be in operation around the cycle route to monitor and penalise anyone caught breaking the law. This will be on top of the usual enforcement officers which patrol on foot.

    Motorists who are caught parking in a cycle lane may be liable to pay a £70 penalty charge notice (PCN).

    A driver issued with a PCN who believes it was incorrectly issued has the right to appeal the charge via the Council’s website.

    Councillor Tracey Rawlins, Executive Member for Clean Air, Environment and Transport said: “After the completion of any major scheme we listen to feedback around how it’s working, and sadly people have reported frequent problems with vehicles being parked in the cycle lanes.

    “These lanes are intended to be a quick and safe way for people wanting to cycle to and from the city centre. However, if people are confronted with cars and vans parked on the lanes, they are rendered totally useless.

    “It’s not only inconsiderate to those trying to use them, but incredibly dangerous forcing people into the main road to go around an obstacle. Hopefully this period of additional enforcement will encourage people to think twice before parking illegally and plan their journeys ahead.

    “In Manchester we are working to improve opportunities to walk and cycle and over time we hope to encourage a ‘people first’ mindset, rather than vehicles. Ultimately and most importantly we want Manchester to be clean, safe and attractive for everyone.”

    MIL OSI United Kingdom –

  • MIL-OSI New Zealand: New Zealand and China Foreign Ministers meet in Beijing

    Source: New Zealand Government

    Deputy Prime Minister Winston Peters met with Chinese Foreign Minister Wang Yi in Beijing today (26 February), concluding a substantive visit to China over the past two days.

     

    “We were pleased to re-connect with Foreign Minister Wang. We have known each other for many years, and today we continued our wide-ranging and constructive dialogue,” Mr Peters says. 

     

    Today’s discussion took place a year on from Foreign Minister Wang’s most recent visit to New Zealand, and during Mr Peters’ sixth official visit to Beijing. Mr Peters first visited Beijing in 1997, and he has previously visited a number of other cities across China.

     

    “The New Zealand-China relationship is very significant,” Mr Peters says.

     

    “China is New Zealand’s largest trading partner, and our long-standing relationship has been shaped over many years by strong connections between our people.

     

    “Befitting this comprehensive relationship, we discussed ongoing bilateral cooperation, a broad range of regional and global issues, as well as areas where we have differences.”

     

    The Ministers discussed key issues confronting both countries, as well as recent developments, including the Chinese naval deployment to the Tasman Sea. 

     

    “We also discussed our strong relationships with Pacific countries, including New Zealand’s special constitutional relationships with its Realm partners, in particular the Cook Islands,” Mr Peters says.

     

    “We also made clear New Zealand’s support for Pacific priorities and institutions, and Pacific-led responses to address the issues we face in our region, including on defence and security issues.

     

    “Our region and the world are facing a myriad of challenges, including increased tensions in the South China Sea and Taiwan Strait.

     

    “We raised the importance New Zealand places on international rules, norms, and institutions, including those that have long underpinned the stability and success of the Indo-Pacific. We also highlighted the constructive role China can play in responding to regional and international security challenges, including on Russia’s war on Ukraine, and in the Middle East.

     

    “New Zealand acknowledged the importance of further high-level visits to China to continue to build mutual understanding, and discussed the significance of dialogue between New Zealand and China this year across the relationship, including on trade, agriculture, Antarctic issues, climate change, consular issues, human rights, foreign affairs, and the Pacific.”

     

    While in Beijing, Minister Peters also held constructive dialogues with other Chinese leaders: Vice President Han Zheng and Head of the International Department of the Chinese Communist Party Minister Liu Jianchao. He also held engagements with Ambassadors to Pacific Island countries based in Beijing, and with Chinese alumni of New Zealand universities.

    MIL OSI New Zealand News –

  • MIL-OSI United Nations: 26 February 2025 UHC-Partnership: Namibia tackles antimicrobial resistance

    Source: World Health Organisation

    In June 2024, a 66-year-old woman was admitted to the Medical Intensive Care Unit at Intermediate Hospital Katutura in Windhoek, Namibia. She was diagnosed with pneumonia, and tests showed that the organism responsible for her severe illness was resistant to all antibiotics except tigecycline. At the hospital, the pharmacy department had to obtain a compassionate clearance permit to procure and import tigecycline for the patient.

    “The patient completed the course, stabilized, and was discharged from the intensive care unit to a general ward. Unfortunately, due to various complicated comorbidities, the patient eventually passed away”, said Ms Taimi Ipinge, a Chief Pharmacist at Intermediate Hospital Katutura.

    Tragically, this type of resistance to antibiotics is all too common in Namibia, as with elsewhere in the world.

    Antimicrobial resistance (AMR) occurs when bacteria, viruses, fungi, and parasites change over time and no longer respond to medicines, making infections harder to treat and increasing the risk of disease spread, severe illness, and death. As a result, the medicines become ineffective and infections persist in the body, increasing the risk of spread to others.

    AMR is one of the top global public health and development threats. It is estimated that bacterial AMR was directly responsible for 1.27 million global deaths in 2019 and contributed to 4.95 million deaths.

    In 2019, Namibia recorded 451 deaths attributable to AMR and 1,900 deaths were associated with AMR.

    Acting to stop AMR

    The Government of Namibia recognizes that AMR is a threat to health security across the country and region and that a range of health system interventions are necessary to protect the population’s health and ensure good progress towards universal health coverage (UHC).

    The Ministry of Health and Social Services (MoHSS), with support from WHO through the UHC Partnership and others, is implementing various activities in line with the AMR National Action Plan in compliance with the Global Action Plan to address AMR.

    The Government responded to the overuse of antibiotics by setting up a national multi-sectoral AMR governance to guide, oversee, coordinate, and monitor AMR-related activities in all sectors to ensure a systematic and comprehensive implementation of Namibia’s National Action Plan on AMR.

    In November 2021, Namibia commemorated its first World Antimicrobial Awareness Week (WAAW). In 2023, MoHSS in collaboration with AMR quadripartite organizations, commemorated the week under the theme of ‘Preventing antimicrobial resistance together’ with the slogan ‘Antimicrobials: handle with care’. The event brought together the Ministry of Health and Social Services, the Ministry of Agriculture, Water and Land Reform, and the Ministry of Environment, Forestry and Tourism.

    Namibia launched its infection prevention and control action plan and national guidelines. WHO provided support to a range of activities for this including distribution of information, education and communication materials around infection prevention and control, regional orientation on quality standards, in-service training focal points, and training on water, sanitation, and hygiene for hospital quality improvement plans. Thanks to capacity-building support from WHO, Namibia also reached a significant milestone for the first submission of data on AMR to GLASS in December 2023.

    “AMR is extremely serious. If left unchecked it means we are heading to a world where medical treatment of routine ailments or operations is life threatening and a greater number of people might stop responding to drugs. It challenges all our efforts to strengthen health systems and achieve universal health coverage. WHO commends the Namibian Government for the strategic and multiple approaches taken through collaboration between sectors and work across the region to raise awareness amongst the public,” said Dr Richard Banda, WHO Representative to Namibia.

    Strengthening health security

    Namibia’s response to antimicrobial resistance (AMR) is part of the broader effort to strengthen health security across the country. By integrating a One Health approach and engaging key sectors, Namibia is actively working to strengthen its health systems, improve surveillance, and ensure that it is prepared to respond to emerging health threats. The launch of the National Tripartite One Health Strategy 2024-2028 further underlines the government’s commitment to safeguarding public health, both within the country and in collaboration with regional and international partners.

    The UHC Partnership operates in over 125 countries, representing over 3 billion people. It is supported and funded by Belgium, Canada, the European Union, France, Germany, Ireland, Luxembourg, Japan, the United Kingdom of Great Britain and Northern Ireland, and WHO.

    MIL OSI United Nations News –

  • MIL-OSI Security: Man pleads guilty to sexual assaults

    Source: United Kingdom London Metropolitan Police

    A man has admitted numerous offences after officers linked him to a series of sexual assaults on teenage girls near Clapham Common.

    John Nyhan, 22 (09.02.03), of Ingrave Street, Wandsworth, pleaded guilty at Kingston Crown Court to three sexual assaults.

    Nyhan previously pleaded guilty on Thursday, 13 February at Wimbledon Magistrates’ Court to one count of harassment.

    Detective Inspector Aaron Moon, whose team led the investigation, said: “Nyhan remains in custody until his sentencing following his guilty plea.

    “We know that his offending has caused a lot of concern locally and I hope that his conviction will allay some of those fears. It’s possible that Nyhan may have committed further offences that have not yet been reported to police and I would encourage anyone who is yet to speak with us to please come forward.”

    Detectives linked three sexual assaults committed between Wednesday, 8 January and Tuesday, 4 February in the Clapham Common area.

    As a result of enquiries, Nyhan was identified and arrested on Tuesday, 11 February. He was charged two days later.

    Nyhan was remanded in custody for sentencing, which will take place at Kingston Crown Court on Thursday, 10 April.

    MIL Security OSI –

  • MIL-OSI: Freename partners with Chiliz: .CHZ Domains Are Here

    Source: GlobeNewswire (MIL-OSI)

    Zurich, Switzerland, Feb. 26, 2025 (GLOBE NEWSWIRE) — Freename is pleased to announce a strategic partnership with Chiliz, a leading blockchain platform for sports and fan engagement. Through this collaboration, Freename has launched .CHZ domains, offering exclusive benefits to CHZ stakers and Scoville NFT holders.

    This partnership represents a significant step in expanding the Web3 ecosystem, providing blockchain and sports enthusiasts with the opportunity to establish their digital identities. Additionally, it creates new avenues for a broader audience—including cryptocurrency users, digital creators, resellers, and investors—to engage with a highly secure Ethereum-powered environment, interact with on-chain decentralized applications (dApps), and seamlessly exchange ERC-20 tokens.

    The First Sport-Focused Top-Level Domain  

    Arguably, .CHZ is an eagerly awaited domain where sports fans can create unique digital identities and build a highly secure sports community. “Sports enthusiasts, fans, and Web3 users need digital identities that reflect their passion and establish their presence in the digital world,” said Gherardo Varani, Head of Business Development at Freename.

    This Freename–Chiliz partnership aims to set the tone for sports enthusiasts who want to stay updated on their favorite sports. With the integration of Chiliz—the leading blockchain for sports and fan engagement—this vision is becoming a reality. In addition to incorporating the Chiliz blockchain into its portfolio, Freename has launched the first-ever sport-focused TLD, .CHZ, which is expected to attract thousands of fans to the Chiliz network.

    Beyond sports, .CHZ will also appeal to individuals exploring the decentralized space, offering them new opportunities to engage. “.CHZ is the first sport-focused top-level domain, built for those who live and breathe sports—whether as fans, collectors, or digital creators,” Gherardo added.

    Exclusive Benefits of Minting .CHZ Domains

    The basic purpose of the .CHZ domains is to provide custom Web3 identities for the Chiliz community, crypto users, and domain investors. Ensuring maximum value for your purchases, Freename provides exceptional discounts and benefits on the acquisition of .CHZ TLDs and domains. 

    These benefits are specifically meant for Chiliz network users, including CHZ stakers and Scoville NFT holders.

    For CHZ Stakers

    If you’re already minting on the Chiliz blockchain, the .CHZ domains will diversify your portfolio. Oftentimes, these domains can be resold at much higher prices in the future.  

    CHZ stakers can save more on buying .CHZ domains from Freename. To qualify for this offer, you must have a staking balance of 1,000 CHZ or more. 

    Qualified users can get a discount between $30 – $100 and a free-of-cost renewal for up to five years (based on your staking balance).  

    • If you’re staking between 1,000 and 10,000 CHZ, you will receive a 2-year domain renewal along with a $30 coupon.  
    • Those staking in the 10,001 – 50,000 CHZ bracket will receive a $75 coupon and a 3-year domain renewal. 
    • And if you’re staking above 50,000 CHZ, you will receive a $100 coupon with a 5-year domain renewal upon checkout.

    Simply verify your status at checkout and claim your reward.

    Scoville NFT Holders

    Scoville NFT Holders can integrate .CHZ domains into their digital wallet or link their NFT collection, leveraging them in more ways than one. They can also transfer domains minted on other blockchains to the Chiliz blockchain. 

    For Scoville NFT holders, Freename offers $10 off on buying the .CHZ domains. Adding more to savings, these domains come with 2-year domain renewal.

    The Chiliz Chain

    Chiliz Chain is a stand-alone, layer-1, EVM compatible blockchain that leverages a Proof of Staked Authority (PoSA) mechanism. This mechanism grants authority through staking tokens.

    Over the years, the blockchain has been used to mint Fan Tokens for popular teams like Paris Saint-Germain FC, Juventus. You can also find Fan Tokens related to Motorsports, Tennis, European Football, and more!

    At present, the blockchain boasts more than 70 officially licensed Fan Tokens, serving more than 2 million Fan Token wallets across the globe. 

    What You Can Do with Your .CHZ Domain

    The .CHZ domain is your gateway to the decentralized webspace. You can get access to millions of users via Chiliz Fan Tokens and scale your business. You can also feature your dApps on chain and expand your growth quickly. 

    Some of the major benefits of the .CHZ domain are listed below:

    Name Your Wallet with Your Favorite .CHZ Domain

    You can choose a relevant .CHZ domain name and integrate it into your wallet to give it a unique, concise and memorable identity. Instead of the long string address, a wallet with a unique name is far easier to remember, helping other users to locate you easily.  

    Use It as Your Main Digital Identity

    You can integrate a single .CHZ domain to multiple digital identities, including NFTs, Smart Contracts, Tokens and Metaverse real estate. Not only will it help you manage your portfolio, but also maximize your assets’ security.

    Send and Receive Crypto Payments

    Your .CHZ domain can also serve you in sending and receiving crypto payments without intermediaries. In addition to the robust security powered by PoSA mechanism, you get a high level of privacy provided by your .CHZ domain.

    Set Custom Records for Multi-chain Compatibility

    Your .CHZ domains are capable of storing any form of digital assets, be it coins, tokens, or NFTs. Moreover, these domains offer multi-chain compatibility, enabling you to set custom records across different blockchains.  

    Build and Browse Web3 Websites

    Last but not the least, your .CHZ domain, like other decentralized domains, will serve the basic purpose of building web3 sites. That’s right, you can create a website, online store, or portal similar to the web2 space, allowing visitors to surf through your content and buy your products or services. 

    Buy Your .CHZ Domain Now!

    By integrating the leading sport-focused blockchain into its portfolio, Freename offers you a lucrative opportunity to connect with millions of sports fans. Whether you’re a developer, data analyst, designer or a die-hard sports fan, you can get access to the blockchain ecosystem using your .CHZ domain. Join the web3 bandwagon today and Buy Your Web3 Domain!

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

    The MIL Network –

  • MIL-OSI: Intermex Reports Fourth-Quarter and Full-Year Results

    Source: GlobeNewswire (MIL-OSI)

    Company delivers ~10% EPS growth in 2024

    Company to Host Conference Call Today at 9 a.m. ET

    MIAMI, Feb. 26, 2025 (GLOBE NEWSWIRE) — International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”), one of the nation’s leading omnichannel money transfer services to Latin America and the Caribbean, today reported operating results for the fourth quarter and full-year 2024.

    Financial performance highlights for the full-year:

    • Revenues of $658.6 million
    • Net income of $58.8 million
    • Diluted EPS of $1.79 per share
    • Adjusted Diluted EPS of $2.14 per share
    • Adjusted EBITDA of $121.3 million

    Financial performance highlights for the fourth quarter of 2024:

    • Revenues of $164.8 million
    • Net income of $15.4 million
    • Diluted EPS of $0.49 per share
    • Adjusted Diluted EPS of $0.57 per share
    • Adjusted EBITDA of $30.9 million

    Bob Lisy, Chairman, President, and CEO of Intermex, stated “We have delivered another year of strong EPS growth and continued providing solid operating results for our shareholders. As a highly efficient provider of the premium product at retail, we are now turning our attention to invest and expand our high margin digital business. We continue to be a highly profitable operator, and a strong generator of cash. At this afternoon’s Investor Day, we look forward to sharing our 2025 plan which will scale our digital business while continuing to leverage the strength of the underlying retail model we have built.”

    The Company also reported that, consistent with the recommendation of its independent Strategic Alternatives Committee (“SAC”), the Board of Directors (“Board”) has unanimously determined to suspend the Company’s previously announced assessment of strategic alternatives.

    The Board conducted the review of strategic alternatives through the SAC, composed solely of independent members of the Board. The SAC, along with its independent financial advisor, Lazard Freres, the Company’s financial advisor, FT Partners, and the assistance of its independent legal counsel, evaluated a comprehensive range of strategic alternatives to maximize stockholder value and held discussions with a wide array of strategic and financial investors since the process was announced in November of 2024 regarding potential alternatives, including a sale or merger of the Company and other transactions. The robust strategic review did not, however, result in a definitive offer at a price that offered a superior alternative to the long-term stockholder value potentially created by Intermex’s current business model and its strategic plan, which includes a significant investment to increase the revenue from the Company’s digital services.

    Accordingly, after considering views of Company stockholders, significant internal discussion and consultation with external financial and legal advisors, and the recommendation of the SAC, the Board concluded that the best interests of all stockholders are served by continuing to focus on the execution of the Company’s strategic plan, including opportunities to drive growth and enhance value as an independent public company.   As such, the Board has suspended the review process. The Intermex’s Board and management team are committed to maximizing stockholder value and remain open to all opportunities to achieve this objective.

    Mr. Lisy commented, “Since becoming a public company, we have built Intermex into one of the nation’s leading omnichannel money transfer services to Latin America and expanded our reach to additional markets while consistently generating strong and recurring bottom line results and free cash generated.   We are committed to building upon that foundation of success, which has been driven by our retail service offerings, by applying our cash resources and liquidity to invest in the expansion of our digital services and products that offer the potential for increased revenue and wider margins.   In addition, we have ample financial resources and flexibility to provide liquidity to our stockholders through share repurchases under our previously authorized share repurchase program.

    Our 2025 guidance reflects a large and aggressive investment on digital customer capture, along with additional staff and marketing to bolster our profitable, cash-generating retail engine. We will discuss how these – and the political and macro backdrop – impact our outlook at our Investor Day later this afternoon.”

    Financial Results for full-year 2024 (all comparisons are to the full-year 2023)
    Revenues remained relatively flat at $658.6 million, primarily due to slowing of the overall remittance market growth to Latin America, partially offset by our continued growth of our agent base and of our digital offering. Total principal sent from remittance activity decreased slightly by approximately 0.8% to $24.4 billion. Foreign exchange gains increased by 1.1% primarily due to improved foreign currency spreads.

    The Company reported net income of $58.8 million, a decrease of 1.2%. Diluted earnings per share were $1.79, an increase of 9.8%. The decrease in net income was driven primarily by the items noted above for revenues, partly offset by lower services charges from agents and banks. Lower salaries and benefits and income tax provision also positively impacted net income. The Company also incurred $1.8 million in transaction costs for the full year, primarily legal and professional fees incurred in relation to the evaluation of strategic alternatives. Diluted earnings per share was positively impacted by the reduction in share count from the Company’s stock repurchases.

    Adjusted net income totaled $70.4 million, a decrease of 0.8%. Adjusted diluted earnings per share totaled $2.14, an increase of 9.7%. Adjusted net income and adjusted diluted earnings per share were impacted by the items noted above, adjusted for certain items detailed in the reconciliation tables below. Adjusted diluted earnings per share was positively impacted by the reduction in share count from the Company’s stock repurchases.

    Adjusted EBITDA increased 1.1% to $121.3 million, attributable to the higher net effect of the adjusting items detailed in the reconciliation tables below following the consolidated financial statements.

    Fourth Quarter 2024 Financial Results (all comparisons are to the Fourth Quarter 2023)
    Total revenues for the Company were $164.8 million, down 4.1% versus last year due to slowing of the overall remittance market growth to Latin America – especially in retail. Revenue was positively impacted by 48.3% growth in revenues for digitally-sent money transfers. The Company’s user base generated 14.8 million money transfer transactions, down 3.2% from last year. The total principal amount transferred for the period was $6.1 billion, down 1.6%.

    Net income was $15.4 million, a decrease of 12.1%. Diluted earnings per share was $0.49, the same as in the prior year. The decrease in net income was driven primarily by the items noted above for revenues, partly offset by the same items noted above for the full year. The Company also incurred $1.7 million in transaction costs in the fourth quarter alone, primarily legal and professional fees incurred in relation to the evaluation of strategic alternatives. Diluted earnings per share was positively impacted by the reduction in share count from the Company’s stock repurchases.

    Adjusted net income decreased 10.6% to $17.8 million, and adjusted diluted earnings per share was $0.57, an increase of 1.8%. Adjusted net income and adjusted diluted earnings per share were impacted by the items noted above, adjusted for certain items detailed in the reconciliation tables below. Adjusted diluted earnings per share was positively impacted by the reduction in share count from the Company’s stock repurchases.

    Adjusted EBITDA decreased 7.2% to $30.9 million, driven primarily by business operating results discussed above.

    Adjusted and other non-GAAP measures discussed above and elsewhere in this press release are defined below under the heading, Non-GAAP Measures.

    Other Items
    The Company ended the fourth quarter of 2024 with $130.5 million in cash and cash equivalents. Net free cash generated for the fourth quarter of 2024 was $4.5 million, down from the fourth quarter of 2023, mainly due to the acquisition of the Amigo Paisano brands (“Amigo Paisano”) for $12.0 million and the $1.7 million in transaction costs incurred in the fourth quarter. The decrease in year-over-year net free cash generated reflects the fourth quarter factors mentioned above, the impact of assets placed into service as a result of the Company’s move to its new U.S. headquarters facility, and the impact of costs incurred in relation to business restructuring of the Company’s acquisitions.

    The Company repurchased 1,025,821 shares of its common stock for $20.2 million during the fourth quarter of 2024 through its share repurchase program and $63.2 million remains currently available for future share repurchases under the share repurchase program. During the full-year 2024, the Company purchased 3,765,320 shares for $75.1 million, which repurchases are expected to resume in the current quarter.

    In the year ended December 31, 2024, the Company incurred restructuring costs of approximately $3.1 million. The charges were primarily related to the Company’s foreign operations and constituted reorganizing the workforce, streamlining operational processes, and integrating technology.

    Guidance
    The Company provides the following full-year and first quarter guidance:

    Full-year 2025:

    • Revenue of $657.5 million to $677.5 million
    • Diluted EPS of $1.76 to $1.91
    • Adjusted Diluted EPS of $2.09 to $2.26
    • Adjusted EBITDA of $113.8 million to $117.3 million

    First quarter 2025:

    • Revenue of $145.5 million to $149.9 million
    • Diluted EPS of $0.32 to $0.34
    • Adjusted Diluted EPS of $0.40 to $0.43
    • Adjusted EBITDA of $23.3 million to $24.0 million

    The above guidance does not reflect an estimate of transaction costs related to the now suspended process to review strategic alternatives.

    Non-GAAP Measures
    Adjusted Net Income, Adjusted Earnings per Share, Adjusted EBITDA, Adjusted EBITDA Margin and Net Free Cash Generated, each a Non-GAAP financial measure, are the primary metrics used by management to evaluate the financial performance of our business. We present these Non-GAAP financial measures because we believe they are frequently used by analysts, investors, and other interested parties to evaluate companies in our industry. Furthermore, we believe they are helpful in highlighting trends in our operating results, because certain of such measures exclude, among other things, the effects of certain transactions that are outside the control of management, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the jurisdictions in which we operate and capital investments.

    Adjusted Net Income is defined as Net Income adjusted to add back certain charges and expenses, such as non-cash amortization of intangible assets resulting from business acquisition transactions, non-cash compensation costs, and other items outlined in the reconciliation table below, as these charges and expenses are not considered a part of our core business operations and are not an indicator of ongoing future Company performance.

    Adjusted Earnings per Share – Basic and Diluted is calculated by dividing Adjusted Net Income by GAAP weighted-average common shares outstanding (basic and diluted).

    Adjusted EBITDA is defined as Net Income before depreciation and amortization, interest expense, income taxes, and adjusted to add back certain charges and expenses, such as non-cash compensation costs and other items outlined in the reconciliation table below, as these charges and expenses are not considered a part of our core business operations and are not an indicator of ongoing future Company performance.

    Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by Revenues.

    Net Free Cash Generated is defined as Net Income before provision for credit losses and depreciation and amortization adjusted to add back certain non-cash charges and expenses, such as non-cash compensation costs, and reduced by cash used in investing activities and servicing of our debt obligations.

    Adjusted Net Income, Adjusted Earnings per Share, Adjusted EBITDA, Adjusted EBITDA Margin, and Net Free Cash Generated are non-GAAP financial measures and should not be considered as an alternative to operating income, net income, net income margin or earnings per share, as a measure of operating performance or cash flows, or as a measure of liquidity. Non-GAAP financial measures are not necessarily calculated the same way by different companies and should not be considered a substitute for or superior to U.S. GAAP.

    Reconciliations of Net Income, the Company’s closest GAAP measure, to Adjusted Net Income, Adjusted EBITDA, and Net Free Cash Generated, as well as a reconciliation of Earnings per Share (Basic and Diluted) to Adjusted Earnings per Share (Basic and Diluted) and Net Income Margin to Adjusted EBITDA Margin, are outlined in the tables below following the consolidated financial statements. A quantitative reconciliation of projected Adjusted EBITDA and Adjusted Diluted EPS to the most comparable GAAP measure is not available without unreasonable efforts because of the inherent difficulty in forecasting and quantifying the amounts necessary under GAAP guidance for operating or other adjusted items including, without limitation, costs and expenses related to acquisitions and other transactions, share-based compensation, tax effects of certain adjustments and losses related to legal contingencies or disposal of assets. For the same reasons, we are unable to address the probable significance of the unavailable information.

    Investor and Analyst Conference Call / Presentation
    Intermex will host a conference call and webcast presentation at 9:00 a.m. Eastern Time today. Interested parties are invited to join the discussion and gain firsthand knowledge about Intermex’s financial performance and operational achievements through the following channels:

    • A live broadcast of the conference call may be accessed via the Investor Relations section of Intermex’s website at https://investors.intermexonline.com/.
    • To participate in the live conference call via telephone, please register HERE. Upon registering, a dial-in number and unique PIN will be provided to join the conference call.
    • Following the conference call, an archived webcast of the call will be available for one year on Intermex’s website at https://investors.intermexonline.com/.

    Safe Harbor Compliance Statement for Forward-Looking Statements
    This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, which reflect our current views concerning certain events that are not historical facts but could have an effect on our future performance, including but without limitation, statements regarding our plans, objectives, financial performance, business strategies, projected results of operations, restructuring initiatives and expectations for the Company. Such forward-looking statements include all statements regarding the Board’s evaluation of strategic alternatives, including exploring options for a potential sale in a private transaction. These statements may include and be identified by words or phrases such as, without limitation, “would,” “will,” “should,” “expects,” “believes,” “anticipates,” “continues,” “could,” “may,” “might,” “plans,” “possible,” “potential,” “predicts,” “projects,” “forecasts,” “intends,” “assumes,” “estimates,” “approximately,” “shall,” “our planning assumptions,” “future outlook,” “currently,” “target,” “guidance,” and similar expressions (including the negative and plural forms of such words and phrases). These forward-looking statements are based largely on information currently available to our management and our current expectations, assumptions, plans, estimates, judgments, projections about our business and our industry, and macroeconomic conditions, and are subject to various risks, uncertainties, estimates, contingencies, and other factors, many of which are outside our control, that could cause actual results to differ materially from those expressed or implied by such forward-looking statements and could materially adversely affect our business, financial condition, results of operations, cash flows, and liquidity. Such factors include, among others: potential adverse effects on the Company’s stock price from the suspension of the Company’s strategic alternatives evaluation process; our success in expanding customer acceptance of our digital services and infrastructure, as well as developing, introducing and marketing new digital and other products and services; new technology or competitors that disrupt the current money transfer and payment ecosystem, including the introduction of new digital platforms; loss of, or reduction in business with, key sending agents; our ability to effectively compete in the markets in which we operate; economic factors such as inflation, the level of economic activity, recession risks and labor market conditions, as well as volatility in market interest rates; international political factors, including ongoing hostilities in Ukraine and the Middle East, political instability, tariffs, including the effects of tariffs on domestic markets and industrial activity and employment, border taxes or restrictions on remittances or transfers from the outbound countries in which we operate or plan to operate; volatility in foreign exchange rates that could affect the volume of consumer remittance activity and/or affect our foreign exchange related gains and losses; changes in applicable laws and regulations; changes in immigration laws and their enforcement, including its effects on the level of immigrant employment and earning potential; consumer confidence in our brands and in consumer money transfers generally; expansion into new geographic markets or product markets; our ability to successfully execute, manage, integrate and obtain the anticipated financial benefits of key acquisitions and mergers; the ability of our risk management and compliance policies, procedures and systems to mitigate risk related to transaction monitoring; consumer fraud and other risks relating to the authenticity of customers’ orders or the improper or illegal use of our services by consumers, sending agents or digital partners; cybersecurity-attacks or disruptions to our information technology, computer network systems, data centers and mobile devices applications; our ability to maintain favorable banking and paying agent relationships necessary to conduct our business; bank failures, sustained financial illiquidity, or illiquidity at the clearing, cash management or custodial financial institutions with which we do business; changes to banking industry regulation and practice; credit risks from our agents, digital partners and the financial institutions with which we do business; our ability to recruit and retain key personnel; our ability to maintain compliance with applicable laws and regulatory requirements, including those intended to prevent use of our money remittance services for criminal activity, those related to data and cybersecurity protection, and those related to new business initiatives; enforcement actions and private litigation under regulations applicable to money remittance services; changes in tax laws in the countries in which we operate; our ability to protect intellectual property rights; our ability to satisfy our debt obligations and remain in compliance with our credit facility requirements; public health conditions, responses thereto and the economic and market effects thereof; the use of third-party vendors and service providers; weakness in U.S. or international economic conditions; and other economic, business, and/or competitive factors, risks and uncertainties, including those described in the “Risk Factors” and other sections of periodic reports and other filings that we file with the Securities and Exchange Commission. Accordingly, we caution investors and all others not to place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date such statement is made and we undertake no obligation to update any of the forward-looking statements.

    About International Money Express, Inc.
    Founded in 1994, Intermex applies proprietary technology enabling consumers to send money from the United States, Canada, Spain, Italy, the United Kingdom and Germany to more than 60 countries. The Company provides the digital movement of money through a network of agent retailers in the United States, Canada, Spain, Italy, the United Kingdom and Germany; Company-operated stores; our mobile apps; and the Company’s websites. Transactions are fulfilled and paid through thousands of retail and bank locations around the world. Intermex is headquartered in Miami, Florida, with international offices in Puebla, Mexico, Guatemala City, Guatemala, London, England, and Madrid, Spain. For more information about Intermex, please visit www.intermexonline.com.

    Alex Sadowski
    Investor Relations Coordinator
    ir@intermexusa.com
    tel. 305-671-8000

    Consolidated Balance Sheets
     
        December 31,   December 31,
    (in thousands of dollars)   2024   2023
    ASSETS   (Unaudited)    
    Current assets:        
    Cash and cash equivalents   $ 130,503   $ 239,203
    Accounts receivable, net of allowance of $3,546 and $2,610, respectively     107,077     155,237
    Prepaid wires, net     49,205     28,366
    Prepaid expenses and other current assets     10,998     10,068
    Total current assets     297,783     432,874
             
    Property and equipment, net     50,354     31,656
    Goodwill     55,195     53,986
    Intangible assets, net     26,847     18,143
    Other assets     32,198     40,153
    Total assets   $ 462,377   $ 576,812
             
    LIABILITIES AND STOCKHOLDERS’ EQUITY        
    Current liabilities:        
    Current portion of long-term debt, net   $ —   $ 7,163
    Accounts payable     19,520     36,507
    Wire transfers and money orders payable, net     85,044     125,042
    Accrued and other liabilities     47,434     54,661
    Total current liabilities     151,998     223,373
             
    Long-term liabilities:        
    Debt, net     156,623     181,073
    Lease liabilities, net     18,582     22,670
    Deferred tax liability, net     250     659
    Total long-term liabilities     175,455     204,402
             
    Stockholders’ equity:        
    Total stockholders’ equity     134,924     149,037
    Total liabilities and stockholders’ equity   $ 462,377   $ 576,812
             
    Consolidated Statements of Income
     
      Three Months Ended December 31,   Year Ended December 31,
    (in thousands of dollars, except for per share data) 2024   2023   2024   2023   2022
      (Unaudited)   (Unaudited)        
    Revenues:                  
    Wire transfer and money order fees, net $ 137,443   $ 145,185   $ 554,801   $ 561,540   $ 469,162
    Foreign exchange gain, net   21,843     23,669     88,944     87,908     72,920
    Other income   5,472     2,929     14,904     9,287     4,723
    Total revenues   164,758     171,783     658,649     658,735     546,805
                       
    Operating expenses:                  
    Service charges from agents and banks   106,317     110,882     428,968     430,865     364,804
    Salaries and benefits   16,010     18,606     68,247     70,203     52,224
    Other selling, general and administrative expenses   12,010     11,181     47,894     47,652     34,394
    Restructuring costs   322     69     3,060     1,214     —
    Transaction costs   1,733     33     1,819     445     3,005
    Depreciation and amortization   3,664     3,355     13,645     12,866     9,470
    Total operating expenses   140,056     144,126     563,633     563,245     463,897
                       
    Operating income   24,702     27,657     95,016     95,490     82,908
                       
    Interest expense   2,748     2,783     11,745     10,426     5,629
                       
    Income before income taxes   21,954     24,874     83,271     85,064     77,279
                       
    Income tax provision   6,569     7,375     24,450     25,549     19,948
                       
    Net income $ 15,385   $ 17,499   $ 58,821   $ 59,515   $ 57,331
                       
    Earnings per common share:                  
    Basic $ 0.50   $ 0.51   $ 1.81   $ 1.67   $ 1.52
    Diluted $ 0.49   $ 0.49   $ 1.79   $ 1.63   $ 1.48
                       
    Weighted-average common shares outstanding:                  
    Basic   30,998,252     34,638,245     32,430,755     35,604,582     37,733,047
    Diluted   31,406,360     35,426,435     32,850,497     36,429,714     38,625,390
                                 
    Reconciliation from Net Income to Adjusted Net Income
     
      Three Months Ended December 31,   Year Ended December 31,
    (in thousands of dollars, except for per share data) 2024   2023   2024   2023   2022
      (Unaudited)   (Unaudited)
                       
    Net income $ 15,385     $ 17,499     $ 58,821     $ 59,515     $ 57,331  
                       
    Adjusted for:                  
    Share-based compensation (a)   186       1,894       7,043       8,111       7,118  
    Restructuring costs (b)   322       69       3,060       1,214       —  
    Transaction costs (c)   1,733       34       1,819       445       3,005  
    Legal contingency settlement (d)   —       —       (570 )     —       —  
    Loss on bank closure (e)   —       —       —       —       1,583  
    Other charges and expenses (f)   308       294       1,239       1,850       1,141  
    Amortization of intangibles (g)   926       1,178       3,820       4,740       4,102  
    Income tax benefit related to adjustments (h)   (1,047 )     (1,042 )     (4,820 )     (4,914 )     (4,376 )
    Adjusted net income $ 17,813     $ 19,926     $ 70,412     $ 70,961     $ 69,904  
                       
    Adjusted earnings per common share:                  
    Basic $ 0.57     $ 0.58     $ 2.17     $ 1.99     $ 1.85  
    Diluted $ 0.57     $ 0.56     $ 2.14     $ 1.95     $ 1.81  
                                           
    (a) Represents share-based compensation relating to equity awards granted primarily to employees and independent directors of the Company.
     
    (b) Represents primarily severance, write-off of assets and, legal and professional fees related to the execution of restructuring plans.
     
    (c) Represents primarily financial advisory, professional and legal fees related to business acquisition transactions and strategic alternatives.
     
    (d) Represents a gain contingency related to a legal settlement.
     
    (e) Represents losses related to the closure of a financial institution in Mexico during 2021.
     
    (f) Represents primarily loss on disposal of fixed assets.
     
    (g) Represents the amortization of intangible assets that resulted from business acquisition transactions.
     
    (h) Represents the current and deferred tax impact of the taxable adjustments to Net Income using the Company’s blended federal and state tax rate for each period. Relevant tax-deductible adjustments include all adjustments to Net Income.
     
    Reconciliation from GAAP Basic Earnings per Share to Adjusted Basic Earnings per Share
     
      Three Months Ended December 31,   Year Ended December 31,
      2024   2023   2024   2023
      (Unaudited)   (Unaudited)
    GAAP Basic Earnings per Share $ 0.50     $ 0.51     $ 1.81     $ 1.67  
    Adjusted for:              
    Share-based compensation   0.01       0.05       0.22       0.23  
    Restructuring costs   0.01       —       0.09       0.03  
    Transaction costs   0.06       —       0.06       0.01  
    Legal contingency settlement   —       —       (0.02 )     —  
    Other charges and expenses   0.01       0.01       0.04       0.05  
    Amortization of intangibles   0.03       0.03       0.12       0.13  
    Income tax benefit related to adjustments   (0.03 )     (0.03 )     (0.15 )     (0.14 )
    Non-GAAP Adjusted Basic Earnings per Share $ 0.57     $ 0.58     $ 2.17     $ 1.99  
     
    The table above may contain slight summation differences due to rounding
     
    Reconciliation from GAAP Diluted Earnings per Share to Adjusted Diluted Earnings per Share
     
      Three Months Ended December 31,   Year Ended December 31,
      2024   2023   2024   2023
      (Unaudited)   (Unaudited)
    GAAP Diluted Earnings per Share $ 0.49     $ 0.49     $ 1.79     $ 1.63  
    Adjusted for:              
    Share-based compensation   0.01       0.05       0.21       0.22  
    Restructuring costs   0.01       —       0.09       0.03  
    Transaction costs   0.06       —       0.06       0.01  
    Legal contingency settlement   —       —       (0.02 )     —  
    Other charges and expenses   0.01       0.01       0.04       0.05  
    Amortization of intangibles   0.03       0.03       0.12       0.13  
    Income tax benefit related to adjustments   (0.03 )     (0.03 )     (0.15 )     (0.13 )
    Non-GAAP Adjusted Diluted Earnings per Share $ 0.57     $ 0.56     $ 2.14     $ 1.95  
     
    The table above may contain slight summation differences due to rounding
     
    Reconciliation from Net Income to Adjusted EBITDA
     
      Three Months Ended December 31,   Year Ended December 31,
    (in thousands of dollars) 2024   2023   2024   2023   2022
      (Unaudited)   (Unaudited)
    Net income $ 15,385   $ 17,499   $ 58,821     $ 59,515   $ 57,331
                       
    Adjusted for:                  
    Interest expense   2,748     2,783     11,745       10,426     5,629
    Income tax provision   6,568     7,375     24,450       25,549     19,948
    Depreciation and amortization   3,664     3,355     13,645       12,866     9,470
    EBITDA   28,365     31,012     108,661       108,356     92,378
    Share-based compensation (a)   186     1,894     7,043       8,111     7,118
    Restructuring costs (b)   322     69     3,060       1,214     —
    Transaction costs (c)   1,733     34     1,819       445     3,005
    Legal contingency settlement (d)   —     —     (570 )     —     —
    Loss on bank closure (e)   —     —     —       —     1,583
    Other charges and expenses (f)   308     294     1,239       1,850     1,141
    Adjusted EBITDA $ 30,914   $ 33,303   $ 121,252     $ 119,976   $ 105,225
     
    (a) Represents share-based compensation relating to equity awards granted primarily to employees and independent directors of the Company.
     
    (b) Represents primarily severance, write-off of assets, and legal and professional fees related to the execution of restructuring plans.
     
    (c) Represents primarily financial advisory, professional and legal fees related to business acquisition transactions and strategic alternatives.
     
    (d) Represents a gain contingency related to a legal settlement.
     
    (e) Represents losses related to the closure of a financial institution in Mexico during 2021.
     
    (f) Represents primarily loss on disposal of fixed assets.
     
    Reconciliation from Net Income Margin to Adjusted EBITDA Margin
     
      Three Months Ended December 31,   Year Ended December 31,
      2024   2023   2024   2023
      (Unaudited)   (Unaudited)
    Net Income Margin 9.3 %   10.2 %   8.9 %   9.0 %
    Adjusted for:              
    Interest expense 1.7 %   1.6 %   1.8 %   1.6 %
    Income tax provision 4.0 %   4.3 %   3.7 %   3.9 %
    Depreciation and amortization 2.2 %   2.0 %   2.1 %   2.0 %
    EBITDA Margin 17.2 %   18.1 %   16.5 %   16.4 %
    Share-based compensation 0.1 %   1.1 %   1.1 %   1.2 %
    Restructuring costs 0.2 %   — %   0.5 %   0.2 %
    Transaction costs 1.1 %   — %   0.3 %   0.1 %
    Legal contingency settlement — %   — %   (0.1 )%   — %
    Other charges and expenses 0.2 %   0.2 %   0.2 %   0.3 %
    Adjusted EBITDA Margin 18.8 %   19.4 %   18.4 %   18.2 %
     
    The table above may contain slight summation differences due to rounding
     
    Reconciliation of Net Income to Net Free Cash Generated
     
      Three Months Ended December 31,   Year Ended December 31,
    (in thousands of dollars) 2024   2023   2024   2023   2022
      (Unaudited)   (Unaudited)
                       
    Net income for the period $ 15,385     $ 17,499     $ 58,821     $ 59,515     $ 57,331  
                       
    Depreciation and amortization   3,664       3,355       13,645       12,866       9,470  
    Share-based compensation   186       1,894       7,043       8,111       7,118  
    Provision for credit losses   1,375       1,227       6,411       4,997       2,572  
    Cash used in investing activities   (16,087 )     (5,092 )     (43,946 )     (18,280 )     (12,529 )
    Term loan pay-downs   —       (1,641 )     (3,281 )     (5,469 )     (4,375 )
                       
    Net free cash generated during the period $ 4,523     $ 17,242     $ 38,693     $ 61,740     $ 59,587  

    The MIL Network –

  • MIL-OSI United Kingdom: TUV welcome joint venture between the IFA Galgorm Resort

    Source: Traditional Unionist Voice – Northern Ireland

    TUV MP Jim Allister and MLA Timothy Gaston have today tabled parallel motions in the House of Commons and the Assembly welcoming the joint venture between the IFA and Galgorm Resort.

    The Assembly version of the motion tabled by Mr Gaston reads:

    “That this Assembly welcomes the joint venture between the Irish Football Association and Galgorm Resort, whereby a state of the art training facility will be provided for the Northern Ireland Football Teams, at Galgorm Co Antrim; notes that this project will fill a long existing void in national football provision and preparation, as well as affording community use and involvement; commends the commitment, foresight and dedication of all involved in promoting this project; and encourages the Executive to play its part in bringing the proposal to fruition.”

    Commenting on the venture TUV leader Jim Allister said:

    “The news of a national training centre for the Northern Ireland Football Teams, men and women, is both exciting and very welcome. The fact it is coming to Galgorm, here in North Antrim, is the icing on the cake.

    “This project will fill a long existing void in national football provision and preparation, as well as affording community use and involvement. The commitment, foresight and dedication of all involved in promoting this project is commended and Government is encouraged to play its part in bringing the proposal to fruition.

    “The fact that our national team had no where suitable to train within Northern Ireland has long been a substantial drawback. Now, allied to the premier hotel at Galgorm Resort, this state of the art provision will be a facility of which all can be proud.

    “When I was briefed on this project a few weeks ago, I was naturally delighted it was coming to North Antrim. I am disappointed I cannot be at the official launch today, but it clashes with NI Questions at Westminster.

    “I have already spoken to the Secretary of State about the need for the government to get behind this wonderful opportunity.”

    MIL OSI United Kingdom –

  • MIL-OSI Video: New Report Reveals the Cost of War in Ukraine | United Nations

    Source: United Nations (Video News)

    Ukraine’s recovery will require $524 billion over the next decade, with war-related damage reaching $176 billion. A $9.96 billion funding gap for 2025 and rising poverty highlight the urgent need for investment and support.

    https://www.youtube.com/watch?v=2pQzeNu2vEU

    MIL OSI Video –

  • MIL-OSI United Kingdom: Change of British High Commissioner to Australia: Dame Sarah MacIntosh

    Source: United Kingdom – Executive Government & Departments

    News story

    Change of British High Commissioner to Australia: Dame Sarah MacIntosh

    Dame Sarah MacIntosh DCMG has been appointed British High Commissioner to Australia in succession to Mrs Victoria Treadell CMG, MVO.

    Sarah MacIntosh

    Dame Sarah MacIntosh DCMG has been appointed British High Commissioner to Australia in succession to Mrs Victoria Treadell CMG, MVO who will be transferring to another Diplomatic Service appointment. Dame Sarah will take up her appointment during April 2025.

    Curriculum Vitae

    Full name: Dame Sarah MacIntosh DCMG

    Year Role
    2022 to 2024 Prime Minister’s Adviser on International Affairs and Deputy National Security Adviser
    2017 to 2022 NATO, Brussels, Ambassador and Permanent Representative
    2014 to 2016 FCO, Director General, Defence & Intelligence
    2011 TO 2014 FCO, Director, Defence & International Security
    2009 to 2010 FCO, Director, Strategic Finance
    2008 to 2009 Harvard University, Fellow
    2006 to 2008 Freetown, British High Commissioner, and Her Majesty’s non-resident Ambassador to Liberia
    2004 to 2005 UN Mission in Kosovo, Strategy Coordinator
    2003 to 2004 FCO, Deputy Head, Conflict Group
    2002 to 2003 FCO, United Nations Dept, Deputy Head
    2000 to 2002 New York, UK Mission to the UN, Development, Macroeconomics and Health
    1997 to 2000 FCO, Strategic Planning
    1996 to 1997 Madrid, EU and Economic Affairs
    1994 to 1995 Vienna, UK Mission to the UN, Nuclear and Drugs
    1991 to 1993 FCO, UN Peacekeeping

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: A House Like Mine: Council launches new resource for homeowners and landlords to improve energy efficiency of homes

    Source: City of Oxford

    A new resource has launched this week for homeowners and landlords who want to learn how to improve the energy efficiency of their home.  

    The ‘A House Like Mine’ project, is a new partnership between Oxford City Council, Low Carbon Hub, and Cosy Homes Oxfordshire that aims to showcase how home-owners and landlords can improve the energy efficiency of their home – helping to make it warmer, healthier, cheaper to run and more environmentally friendly – whatever their budget.  

    The project features 12 real-life homes from across Oxford which received a Whole House Plan detailing the steps they could take to improve the energy performance of their homes. The case studies includes how homeowners could prioritise work on their homes and the potential impact on their energy performance rating. 

    About the case studies 

    The 12 case studies feature eight homeowners and four landlords across a range of property types – from Victorian terraces to modern flats – which aim to show the different ways that people could improve the energy efficiency of their homes: 

    The guide covers a range of different property types, including:  

    1. Pre-1900s mid-terrace, Kingston Road, Oxford
    2. 1950s semi-detached, Marston, Oxford
    3. 1900s detached, Botley, Oxford
    4. 1950s steel-framed ‘Howard House’, Rose Hill, Oxford
    5. 1920s semi-detached, Rose Hill, Oxford
    6. 1930s semi-detached, Rose Hill, Oxford
    7. 1940s semi-detached, St. Clements, Oxford
    8. Pre-1900s mid-terrace, Osney Island, Oxford
    9. Pre-1900s end-terrace, Jericho, Oxford  
    10. 1950s end-terrace, Blackbird Leys, Oxford
    11. 1900s mid-terrace, Littlemore, Oxford 
    12. 1990s top-floor flat, Temple Cowley, Oxford  

    How to use the resources 

    The case studies take a ‘fabric first’ approach, prioritising improvements to the house to reduce heat loss. This means starting with upgrades like insulation – whether that’s cavity wall insulation, loft insulation, or internal wall insulation – to create a solid foundation for further improvements. 

    The project emphasises that homeowners are not required to install all the measures at once. Instead, they are encouraged to take a step-by-step approach – starting with smaller measures or room by room. 

    A House Like Mine was funded by the MCS Foundation, Oxford City Council, Oxfordshire County Council, and Lucy Group, and delivered with support from the Zero Carbon Oxford Partnership (ZCOP).  

    Housing emissions in Oxford 

    The Zero Carbon Oxford Roadmap found around 60% of Oxford’s carbon emissions come from buildings, with residential buildings accounting for 29% of total emissions. 

    Oxford has the goal of becoming a net zero carbon city by 2040 and decarbonising buildings is key to this.  

    Comment 

    “A House Like Mine aims to help everyone in Oxford get access to the information and support they need to live in a healthy and energy efficient home. This project highlights how many ways there are to make your home more energy efficient, whatever your house type, personal circumstance, or budget.” 

    Councillor Anna Railton, Deputy Leader and Cabinet Member for Zero Carbon Oxford, Oxford City Council

    “A House Like Mine is centred around encouraging people to improve the energy efficiency of their homes. By creating case studies with real people and real houses, we are showing what energy improvements could be possible in a range of house types across Oxford. We want people to see these stories, recognise ‘a house like mine’ and be inspired to act.” 

    Barbara Hammond, CEO, Low Carbon Hub

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: BP renewables cuts will have devastating impact on people and planet

    Source: Scottish Greens

    26 Feb 2025 Climate

    BP is damaging our climate and communities.

    More in Climate

    Fossil fuel giant BP’s reported decision to slash renewables investment and double down on fossil fuels shows that the industry cannot be trusted to self-regulate and that governments need to act now for our planet, say the Scottish Greens.

    The party’s Co-Leader Lorna Slater has slammed the oil giant, calling for a stronger windfall tax without the perverse incentives that encourage domestic drilling.

    Ms Slater said:

    “After years of greenwashing and spin, it seems that BP has stopped even pretending to care about our climate.

    “This is a conscious act of climate vandalism and environmental negligence that can only have a devastating impact on people and planet.

    “Companies like BP have spent years raking in obscene profits at the expense of the world around us while making false promises that they would use it to diversify away from fossil fuels. Some of us will remember their cynical Beyond Petroleum campaign.

    “The reality is that the climate emergency is only getting worse, and some of the worst polluters are doing even less to stop it.

    “Time and again the oil and gas industry has shown that it simply cannot be trusted to make the transition to green energy without robust regulations in place to force them to do so.”

    Ms Slater added:

    “Our best defence against global oil and gas prices is to make the investment that is needed in clean, green renewable energy so that we can have proper energy security while lowering bills.

    “It is time for Labour to live up to its rhetoric on renewable energy and make the kind of bold investment programme that is needed to realise our renewables potential.

    “It must finally close the loopholes in the windfall tax and ensure that these climate wreckers are paying their fair share so that we can fund the transition to a greener future.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: CCC report must sound alarm bells for Labour Government

    Source: Scottish Greens

    26 Feb 2025 Climate

    Labour must work for people and planet.

    More in Climate

    The UK’s independent climate change advisor, known as the Climate Change Committee (CCC), has published their Seventh Carbon Budget. The report lays out how the UK Government must take urgent action to meet their legal carbon reduction targets.

    Scottish Greens Co-Leader Patrick Harvie said:

    “Tackling the climate crisis is the greatest national priority that all governments must be working towards. But for too long, we’ve seen successive Prime Ministers fail to turn their warm words on climate into real action.

    “Inaction has cost us already. 2024 was the warmest year on record, and we’ve seen natural disasters around the world and in the UK at an increasing rate. For the UK government to consider approving new oil and gas drilling or expanding airports would be simply climate vandalism.

    “The advice sets out the huge benefits which will come from climate action, greatly cutting the cost of living for households, and that these benefits can be won at lower cost than previous estimates – a fraction of what Keir Starmer committed to military spending yesterday.

    “The CCC is clear that these benefits will only come if action is taken now to reduce carbon emissions in all sectors, including heat, agriculture and especially in transport, which remains one of the biggest polluters in the UK. 

    “Rail travel in the UK is amongst the most expensive in Europe, and our infrastructure is still damaged from the brutal Beeching cuts in the 60s. It doesn’t have to be like this.

    “With real investment in public transport, we can make it cheaper and accessible to all whilst protecting out planet. With new rail routes, reliable buses and integrated ticketing, we could end the reliance on private cars. This investment in public transport infrastructure would benefit us for decades to come.

    “The SNP must also take heed. Specific advice for the Scottish Government will come next, but it’s already clear that their energy strategy, their Heat in Buildings Bill, and their plan for cutting road traffic are all missing in action.

    “It’s time for both Labour and the SNP to stand up and take real action to tackle the climate crisis, stop new oil and gas, reject absurd proposals for airport expansions and invest in our future.”

    MIL OSI United Kingdom –

  • MIL-OSI: Mavenir and O2 Telefónica Germany Strengthen Partnership with Multi-Year IMS Contract Extension for Cloud-Native IMS Services

    Source: GlobeNewswire (MIL-OSI)

    MUNICH and BONN, Germany, Feb. 26, 2025 (GLOBE NEWSWIRE) — Mavenir, the cloud-native network infrastructure provider building the future of networks, today announces that it has strengthened its long-term partnership with Telefónica and its global operating companies, with the signing of a new five-year contract which will see O2 Telefónica Germany transition from Mavenir’s virtualized IMS (vIMS) to Cloud-Native IMS solution. The multi-year contract extension covers both fixed and mobile IMS networks serving O2 Telefónica Germany’s entire subscriber base.

    Mavenir’s cloud-native, web-scale IMS platform offers a foundational technology for next-generation mobile networks, supporting voice over LTE (VoLTE) and voice over New Radio (VoNR) on a common IMS core and facilitating voice continuity between 4G and 5G. Mavenir IMS services operate on any cloud – public or private – and are deployed as stateless microservices in containers, giving operators the ability to accelerate innovation and rapidly launch new services.

    In its recent independent Mobile Network Test 2025, industry trade journal connect rated O2 Telefónica Germany ‘very good’, which also reflects the high performance and service quality achieved with Mavenir’s vIMS solution.

    Matthias Sauder, Director Networks at O2 Telefónica in Germany, commented: “It was a natural decision to extend our successful technology partnership with Mavenir, which has helped us to deliver our best ever quality of service to our customers and optimize our investment in agile network innovation. Mavenir’s clear leadership in network functions virtualization led to its initial selection and has since delivered transformative new capabilities across our operations. As the world embraces the opportunities being created by artificial intelligence and automation to open interfaces for digital transformation, Mavenir’s Cloud-Native IMS will be a core enabling platform for our ongoing network evolution and unlocking new routes to value for our business and our customers.”

    Antonio Correa, Senior RVP Southern Europe, Caribbean & Latin America at Mavenir, added: “Across multiple live deployments, our enduring partnership with Telefónica continues to set the pace for software-speed network evolution and the roll-out of advanced virtualized technologies. As the recognized leader in cloud-native IMS, we see this multi-year extension of our delivery into O2 Telefónica Germany as an exciting opportunity to push forward the next-generation performance and service enhancements that we are uniquely capable of achieving, in collaboration with an operator strongly committed to connectivity innovation, excellence and inclusion.”

    Notes to the editor:

    • connect mobile and 5G network test, issue 01/2025: “very good” (909 points) for O2; a total of 2x “very good” (924 and 909 points) and 1x “outstanding” (970 points) were awarded. For more information, see www.o2.de/netz

    About Mavenir

    Mavenir is building the future of networks today with cloud-native, AI-enabled solutions which are green by design, empowering operators to realize the benefits of 5G and achieve intelligent, automated, programmable networks. As the pioneer of Open RAN and a proven industry disruptor, Mavenir’s award-winning solutions are delivering automation and monetization across mobile networks globally, accelerating software network transformation for 300+ Communications Service Providers in over 120 countries, which serve more than 50% of the world’s subscribers. For more information, please visit www.mavenir.com

    Meet Mavenir at Mobile World Congress 2024, Barcelona, Mar 3-6, 2025.

    To explore Mavenir’s latest innovations and learn more about how Mavenir is delivering the Future of Networks – Today, visit us in Hall 2 (Stand 2H60).

    Mavenir PR Contacts:
    Emmanuela Spiteri
    PR@mavenir.com

    The MIL Network –