NewzIntel.com

Category: Europe

  • MIL-OSI United Kingdom: The Army gives the lessons as STEM comes to Salisbury Plain

    Source: United Kingdom – Government Statements

    Hundreds of Army cadets will try their hand at solving military-base challenges with STEM during their October half term.

    • Nearly 290 cadets are competing in STEM based challenges supported by 10 different Army units throughout half-term week.
    • The exercise is inspired by real Army STEM-based scenarios including how to provide vital aid through airlift operations.

    Hundreds of Army cadets will try their hand at solving military-base challenges with STEM during their October half term.

    Organised by the Royal Signals, and supported by 10 other Army units, the cadets are set to complete a range of STEM-based challenges built on real-life experiences soldiers have faced, from helicopter design to preparing goods for airlifting.

    With a participation rate of 40%, this year’s camp is well represented by the involvement of 116 young girls, with recent statistics estimating that women make up only 29.4% of the STEM workforce

    The challenges will be spread throughout Salisbury plain, with organisers utilising a range of terrains and encampments to set up their challenges with hopes to inspire the next generation. Minister for Veterans and People, Alistair Carns was among the military VIPs in attendance at this year’s cadet STEM camp visitors’ day at Middle Wallop military base.

    As part of the day, the minister participated in an activity, which involved applying the laws of physics and maths to ensure the safety of an airlift by a helicopter over distance.

    Minister for Veterans and People, Alistair Carns OBE MC MP said:

    This week will demonstrate to cadets how STEM is at the heart of our Armed Forces and everything we do.

    Integrating STEM into the cadet curriculum will help prepare cadets for the technology-driven economy of today and ensure they will be well prepared for adult life.

    The cadets also had the opportunity to speak to local industry experts on what kind of careers STEM can offer them. Representatives from Waterman Aspin Engineering, Ulysses Trust and Horiba MIRA Propulsion Development Centre were in attendance.

    Updates to this page

    Published 29 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Holbrooks primary on their way to becoming gold superheroes

    Source: City of Coventry

    Pupils at Holbrooks Primary have taken up the vaccine superhero challenge from Coventry City Council and have achieved silver status and on their way to achieving gold.

    A group of students were presented with an award and prizes by Councillor Kamran Caan, Cabinet Member for Public Health and Cllr George Duggins, Leader of the Council, for recognising the steps they have taken to learn about immunisation and designing a bug character as part of the programme.

    The Vaccine Superhero programme, run by Coventry City Council’s Public Health and School-Aged Immunisation Service (SAIS), is currently working with twenty-six primary and SEND schools with two schools attaining Silver awards and Holbrooks working towards Gold. 

    Cllr Kamran Caan, Cabinet Member for Public Health, Sport and Communities at the Council said:  

    “I’d like to congratulate Holbrooks Primary for their hard work and commitment in achieving silver status in this important Vaccine Superhero programme.

     “I am delighted to see that here in Coventry, our schools, communities, public health and NHS teams have been working hard together to address the concerning rise in of vaccine preventable illnesses, such as measles.

    “It’s not too late for other schools to sign up for the scheme.  For more information, search vaccine superhero on the Council website.” 

    Nicki Kelsall, Deputy Headteacher at Holbrooks Primary School, added:

    “At Holbrook Primary School, we recognise the importance of childhood immunisations to ensure that children have the best possible protection against dangerous diseases.  By educating the children in a fun and exciting way we hope to increase the uptake of immunisations in our community and ensure that the children are fully protected to have a healthy start in life.”

    Attendees were provided with an overview of the programme’s progress to date, celebrated the achievements of participating schools, and welcomed new schools to the programme.   

    Since the launch of the programme, pupils have delved into the world of microbes, learning about their roles, appearance, functions, and how to prevent illness.

    Schools have been highly engaged, participating in various creative activities with Hill Farm Primary School recently earning a Silver award through an experiment by investigating mold growth on bread and its relation to the role of microbes in vaccines.  Holbrooks Primary School is on track for the first Gold award, having started their journey before the summer break.

    For more information or to register for the programme visit Coventry.gov.uk/VaccineSuperhero

    MIL OSI United Kingdom –

  • MIL-OSI: New Fiat Payment Options Now Available on XBO

    Source: GlobeNewswire (MIL-OSI)

    Warsaw, Poland, Oct. 29, 2024 (GLOBE NEWSWIRE) — At XBO.com, a leading B2C crypto service platform, our top priority is making your experience with digital and fiat currency transactions as seamless and convenient as possible. We don’t just focus on expanding our services—we aim to enhance the quality of each service we offer. This latest update introduces more flexible and efficient fiat payment options to support your crypto and fiat transaction needs.

    New Fiat Payment Options on XBO.com for Enhanced Flexibility
    In line with our commitment to convenience and efficiency, XBO.com now supports a broader range of fiat payment methods, empowering users to transact more swiftly and conveniently. These enhanced fiat payment options allow for easier management of both crypto and fiat assets, making XBO.com a one-stop platform for all your digital and fiat transactions.

    The newly added payment methods on XBO include:

    • SEPA (Single Euro Payments Area) – For seamless payments within the Eurozone.
    • SEPA Instant – Instant, real-time transfers for faster access to funds.
    • SWIFT (Society for Worldwide Interbank Financial Telecommunication) – A global network for secure international transactions.
    • FPS (Faster Payments Service) – Fast transfers in GBP within the UK.

    These methods allow you to move fiat currencies across the XBO platform with ease, streamlining the exchange process to be as effortless as crypto transactions.

    The supported fiat currencies include:

    • EUR (Euro)
    • GBP (British Pound)
    • USD (US Dollar)
    • CHF (Swiss Franc)
    • AUD (Australian Dollar)

    Prioritizing Security and Speed for a Better User Experience

    With this upgrade, XBO reinforces its commitment to secure, fast, and user-friendly transactions. These new fiat options are designed to enhance transaction speed and reliability, giving users the same confidence as with their digital assets. Leveraging trusted networks like SEPA, SWIFT, and FPS, XBO ensures every transfer is safe and secure, backed by cutting-edge security measures from top industry providers.

    Future-Forward: Continuous Improvement at XBO

    At XBO, our mission is to continually improve and adapt our platform to meet our users’ evolving needs. The integration of these new fiat payment methods marks another step forward in providing world-class service. We’re committed to offering features that enhance your experience, making XBO your preferred platform for all crypto and fiat transactions.

    Thank you for trusting XBO. We’re excited to keep growing with you as we deliver the best in crypto and fiat transaction services.

    Important Note: Potential Limitations

    Please note that the availability of these new fiat payment methods may vary based on geographic location or your financial institution’s policies. We recommend checking specific guidelines relevant to your country and banking provider.

    Disclaimer: This content is provided for informational purposes only and should not be considered financial advice.

    Meet the XBO Team at SiGMA in Malta, November 11-14!

    We’re excited to announce that the XBO team will be attending the SiGMA Europe Forum in Malta from November 11-14. You can find us at Booth 2086, where we’ll be eager to meet you in person, discuss the latest advancements in crypto services, and explore how XBO can support your digital asset needs. Whether you’re an industry veteran or new to crypto, come by our booth to learn more about our latest features, share insights, or just say hello. We look forward to seeing you there.

    The MIL Network –

  • MIL-OSI Economics: How Copilots are helping drive innovation to achieve business results that matter

    Source: Microsoft

    Headline: How Copilots are helping drive innovation to achieve business results that matter

    The pace of AI innovation today continues to be extraordinary, and at Microsoft we are focused on helping organizations embrace it. By providing our customers with the most advanced AI technology across every product we build — combined with our unparalleled partner ecosystem and co-innovation approach — we are helping them make real progress in ways that matter. I am proud to share over 100 customer stories from this quarter alone showing how we are helping customers accelerate AI Transformation — no matter where they are on their journey.

    Recently during the Microsoft AI Tour, I spoke with customers who shared ways they are adopting Copilots to empower human achievement, democratize intelligence and realize significant business value. I also discussed the concept of an AI-first business process and the differentiation you can drive when bringing together the power of Copilots and human ambition with the autonomous capabilities of an agent. I was inspired by the outcomes our customers have achieved through pragmatic innovation and the progress they are making to evolve the future of industry. I am pleased to share ten stories from the past quarter that illustrate how Copilots have yielded results for our customers, while highlighting AI Transformation experiences in their own words.

    Accenture and Avanade have a long history of helping customers implement cutting-edge solutions, with internal testing a key factor in their ability to deliver customizable Microsoft solutions with deep expertise. Putting Microsoft 365 Copilot into the hands of employees helped them realize ways to increase productivity, with 52% of employees seeing a positive impact on the quality of their work, 31% reporting less cognitive fatigue and 84% finding Copilot’s suggestions fair, respectful and non-biased. Accenture also piloted GitHub Copilot to help build better solutions faster with developers spending less time debugging, resulting in 95% of developers reporting they enjoyed coding more.

    “Using our extensive Microsoft technology expertise and practical learnings from our own experience implementing Microsoft 365 Copilot, our solutions empower clients to fully tap into Microsoft AI capabilities.”

    Veit Siegenheim, Global Future of Work Lead at Avanade

    Nigerian multinational financial services group Access Holdings Plc. serves more than 56 million customers across 18 countries. As the business grew and transitioned from a small bank to a major holding company, it adopted Microsoft 365 Copilot to address challenges in data management, meeting productivity and software development. With the integration of Copilot into daily tools, the company significantly enhanced efficiency and engagement across the business. Writing code now takes two hours instead of eight, chatbots can be launched in 10 days instead of three months and presentations can be prepared in 45 minutes instead of six hours. Copilot has also driven a 25% increase in staff engagement during meetings.

    “To inspire everyone in the organization to take advantage of AI, we knew we had to integrate AI into the tools people use every day. Microsoft 365 Copilot made the most sense and was a natural fit for us.”

    Lanre Bamisebi, Executive Director IT and Digitalization at Access Holdings, Plc.

    To improve resident services and reinvent customer engagement, the City of Burlington, Ontario, embraced AI and low-code tools to develop new online services that transform and automate internal processes. In just eight weeks, the city utilized Copilot Studio to develop and launch a custom copilot designed to help residents quickly find answers to frequently asked questions. The city also developed a portal that streamlines building permit reviews and enables customers to track the status of their own applications. As a result, the average time it takes to process a permit approval decreased from 15 weeks to 5-7 weeks, allowing more time for city employees to evaluate complex submissions.

    “Our staff and citizens do not have to worry about mundane tasks as much anymore. Now they’re able to have rich, collaborative conversations about how to creatively solve problems, making for a much more fulfilling and rewarding work and customer experience.”

    Chad MacDonald, Executive Director and Chief Information Officer at the City of Burlington

    Finastra empowers financial institutions with leading software for lending, payments, treasury, capital markets and universal banking. To transform its marketing processes, the company used Microsoft 365 Copilot to automate tasks, enhance content creation, improve analytics and personalize customer interactions. Since integrating Copilot, the team reduced time-to-market for campaigns from three months to less than one. Copilot also significantly reduced the time marketers spend generating and gathering insights from each campaign, with employees citing a 20%-50% time savings across tasks like full-funnel analysis, supply management analysis and budget management.

    “Copilot makes you more effective because you get better insights, and it makes you more efficient because you can produce results faster. It also makes work more meaningful and fun because your team can focus on what matters — strategy, creativity and everything that sets you apart from the competition.”

    Joerg Klueckmann, Head of Corporate Marketing and Communications at Finastra

    GoTo Group provides technology infrastructure and solutions across Indonesia. It is bending the curve on innovation by significantly enhancing productivity and code quality across its engineering teams by adopting GitHub Copilot. With real-time code suggestions, chat assistance and the ability to break down complex coding concepts, the company has saved over seven hours per week and achieved a 30% code acceptance rate within the first month. With 1,000 engineers already using GitHub Copilot, the tool allows them to innovate faster, reduce errors and focus more time on complex tasks to deliver greater value to their users.

    “GitHub Copilot has significantly reduced syntax errors and provided helpful autocomplete features, eliminating repetitive tasks and making coding more efficient. This has allowed me to focus on the more complex elements in building great software.”

    Nayana Hodi, Engineering Manager at GoTo Group

    South Africa’s Milpark Education faced operational challenges when shifting to online learning due to legacy systems slowing down student interactions and support. Through close collaboration with Enterprisecloud, Milpark migrated its back-office infrastructure to Azure within three months, replacing its legacy student admissions system with an extensible, integrated digital platform powered by technologies such as Microsoft Copilot and Copilot Studio. In just four months, the educational institution improved efficiency and accuracy of student support, decreasing the average resolution time by 50% and escalations by more than 30%.

    “Using Copilot, agents are now able to use generative AI to rapidly get up to speed on case details and respond to students using standardized templates that help them provide more personalized and professional responses. The results speak for themselves.”

    Shaun Dale, Managing Director at Enterprisecloud

    For over two decades, Teladoc Health has been offering a broad spectrum of services to patients using virtual care services — from primary care to chronic condition management. After the rapid growth of telehealth adoption post-pandemic, operational efficiency was instrumental in managing internal processes and external client interactions. By deploying Microsoft 365 Copilot and using Copilot in Power Automate, the company has reshaped business processes to help employees realize greater time savings while enhancing the client experience. The Copilots and agents helped employees save five hours per week and thousands of enterprise hours annually by eliminating mundane daily processes and fostering better cross-department communications, while also helping new employees get set up to run their workflows 20% faster.

    “Copilot is changing the way we work. It’s not just about saving time; it’s about enhancing the quality of our work, allowing us to focus on what truly matters: delivering exceptional care to our members.” 

    Heather Underhill, SVP Client Experience & Operations at Teladoc Health

    International energy company Uniper adopted a single-cloud strategy with Azure as its foundation to drive rapid AI innovation. To help its employees focus on using core competencies, the company implemented Microsoft 365 Copilot to reduce time spent on manual and repetitive tasks, and help workers focus on more pressing work, such as developing enhanced solutions to speed up the energy transition. Its in-house auditors have already increased productivity by 80% by using Copilot to create plans and checklists. Uniper is also using Copilot for Security to help identify risks twice as fast and take appropriate action sooner.

    “As an operator of critical infrastructure, we have to contend with a growing number of reports of phishing and attacks by hackers. AI can help us implement a sensible way of managing the sheer number of threats.”

    Damian Bunyan, CIO at Uniper

    British telecommunications company Vodafone has transformed its workplace productivity with Microsoft 365 Copilot, already seeing strong ROI from its adoption. In early trials, Copilot saved employees an average of three hours per week by using the tool to draft emails, summarize meetings and search for information. Copilot is also enriching the employee experience, with 90% of users reporting they are eager to continue using Copilot and 60% citing improved work quality. For Vodafone’s legal and compliance team, Copilot has significantly accelerated the processes of drafting new contracts, reducing the time required to complete this work by one hour. As a result of these efficiency gains, Vodafone is rolling out Copilot to 68,000 employees.

    “Our AI journey is focusing on three areas: operational efficiency inside the organization; rewiring the business to provide an enhanced customer experience; and unlocking growth opportunities through new products and services that we can create around generative AI. Copilot will help drive all three.”

    Scott Petty, Chief Technology Officer at Vodafone

    Wallenius Wilhelmsen, a global leader in roll-on/roll-off shipping and vehicle logistics, is empowering better decision-making while fostering a culture of innovation and inclusion with AI tools. After participating in an early access program, the company broadly adopted Microsoft Copilot 365 to help streamline processes, enhance data management and improve communication across its 28 countries. To help strengthen Copilot immersion and realize value faster, they introduced a seven-week Microsoft Viva campaign to teach, communicate and measure Copilot adoption. The campaign resulted in 80% of employees using Copilot, with some teams realizing time savings of at least 30 minutes per day. The company also uses Copilot Dashboard to manage usage and gather user feedback, helping demonstrate ROI and measure results outside of time savings alone.

    “Copilot changes the way we think and work while keeping us curious and open to embracing opportunities. I think that is the sort of benefit that is not so measurable, but important. So, my time management and structured approach to my everyday work life has been enhanced with Copilot and Viva.”

    Martin Hvatum, Senior Global Cash Manager at Wallenius Wilhelmsen

    I believe that no other company has a better foundation to facilitate your AI Transformation than Microsoft. As we look ahead to Microsoft Ignite, I am excited by the latest innovation we will announce as a company, and the customer and partner experiences we will share. We remain committed to driving innovation that creates value in ways that matter most to our customers, and believe we are at our best when we serve others. There has never been a better opportunity for us to accomplish our mission of empowering every person and every organization on the planet to achieve more than now, and I look forward to the ways we will partner together to help you achieve more with AI.

    AI Customer Stories from FY25 Q1

    Accelleron: Accelleron turbocharges IT support solutions and resolution times with Power Platform

    Agnostic Intelligence: Agnostic Intelligence transforms risk management with Azure OpenAI Service, achieving up to 80% time savings

    Alaska Airlines: How Alaska Airlines uses technology to ensure its passengers have a seamless journey from ticket purchase to baggage pickup

    Allgeier: Allgeier empowers organizations to own and expand data operations

    ANZ Group: ANZ launches first-of-its-kind AI Immersion Centre in partnership with Microsoft

    Asahi Europe & International: Asahi Europe & International charts new paths in employee productivity with Microsoft Copilot

    Auburn University: Auburn University empowers thousands of students, faculty and staff to explore new ways of using AI with Microsoft Copilot

    Avanade: Avanade equips 10,000 employees with Microsoft Fabric skills to help customers become AI-driven and future-ready

    Azerbaijan Airlines: Azerbaijan Airlines expands data access to increase efficiency by 70% with Microsoft Dynamics 365

    Aztec Group: Aztec Group uses Copilot for Microsoft 365 to enhance the client experience whilst powering efficiencies

    Bader Sultan: Bader Sultan uses Microsoft Copilot to boost productivity and serve clients faster

    BaptistCare: BaptistCare supports aging Australians and tackles workforce shortages through Microsoft 365 Copilot

    Barbeque Mania!: Barbecue Mania! centralizes your data with Microsoft Azure and saves $3.5 million over 5 years

    Bank of Montreal: Bank of Montreal reduces costs by 30% with Azure

    BlackRock: How BlackRock’s ‘flight crew’ helped Copilot for Microsoft 365 take off

    Capita: Capita uses GitHub Copilot to free developers and deliver faster for customers

    Cassidy: Cassidy and Azure OpenAI Service: Making AI simple for all

    Cdiscount: Cdiscount, Azure OpenAI Service and GitHub Copilot join forces for e-commerce

    Celebal: Celebal drives custom business transformations with Microsoft Fabric

    Chalhoub Group: Chalhoub Group’s People Analytics team speeds reporting with Microsoft Fabric

    ClearBank: ClearBank processes 20 million payments a month — up from 8,000 — with platform built on Azure

    Cloud Services: Faster with Fabric: Cloud Services breaks new ground with Microsoft

    Coles Supermarkets: Coles Supermarkets embraces AI, cloud applications in 500-plus stores with Azure Stack HCI​

    Commercial Bank of Dubai: Commercial Bank of Dubai: innovating a future proof banking platform with Microsoft Azure

    CPFL: CPFL expands its data repository by 1500% with Mega Lake project on Microsoft Azure

    Cummins: Cummins uses Microsoft Purview to automate information governance more efficiently in the age of AI

    Dubai Electricity and Water Authority (DEWA): DEWA pioneers the use of Azure AI Services in delivering utility services

    Digi Rogaland: Digi Rogaland prioritizes student safety with Bouvet and Microsoft Fabric

    Eastman: Eastman catalyzes cybersecurity defenses with Copilot for Security

    E.ON: A modern workspace in transition: E.ON relies on generative AI to manage data floods with Copilot for Microsoft 365

    EPAM Systems: Efficiency inside and out: EPAM streamlines communications for teams and clients with Copilot for Microsoft 365

    EY: EY redefines sustainability performance management with Microsoft

    Fast Shop: Fast Shop consolidated its data platform on Microsoft Azure and is now ready for the era of AI

    FIDO Tech: AI tool uses sound to pinpoint leaky pipes, saving precious drinking water

    Florida Crystals Corporation: Telecom expenses for Florida Crystals dropped 78% with Teams Phone and Teams Rooms

    Four Agency: Four Agency innovates with Microsoft 365 Copilot to deliver better work faster

    Fractal: Fractal builds innovative retail and consumer goods solutions with Microsoft’s AI offerings including Azure OpenAI Service

    GE Aerospace: GE Aerospace launches company-wide generative AI platform for employees

    Georgia Tech Institute for Data Engineering and Science: Georgia Tech is accelerating the future of electric vehicles using Azure OpenAI Service

    Hitachi Solutions: Hitachi Solutions transforms internal operations with Microsoft Fabric

    IBM Consulting: How IBM Consulting drives AI-powered innovation with Fabric expertise

    iLink Digital: Transforming user-driven analytics with Microsoft Fabric

    Insight Enterprises: Insight Enterprises achieves 93% Microsoft Copilot use rate, streamlining business operations to pave the way for customer success

    Intesa Sanpaolo: Intesa Sanpaolo accrues big cybersecurity dividends with Microsoft Sentinel, Copilot for Security

    ITOCHU Corporation: ITOCHU uses Microsoft Fabric and Azure AI Studio to evolve its data analytics dashboard into a service delivering instant recommendations

    IU International University of Applied Sciences (IU): IU revolutionizes learning for its students with the AI study buddy Syntea and Azure OpenAI Service

    John Cockerill: John Cockerill engages pro developers to build enterprise-wide apps with Power Platform

    Kaya Limited: Kaya Limited elevates customer experience and operational efficiency with Microsoft Dynamics 365 and Power BI

    LexisNexis: LexisNexis elevates legal work with AI using Copilot for Microsoft 365

    Lionbridge: Lionbridge disrupts localization industry using Azure OpenAI Service and reduces turnaround times by up to 30%

    Lotte Hotels & Resorts: Hotelier becomes a citizen developer, building a smart work culture based on Power Platform and hyper-automated work environment

    Lumen Technologies: Microsoft and Lumen Technologies partner to power the future of AI and enable digital transformation to benefit hundreds of millions of customers

    LS ELECTRIC: LS ELECTRIC uses data to optimize power consumption with Sight Machine and Microsoft Cloud for Manufacturing

    MAIRE: MAIRE, transforming the energy sector and an entire company culture with Microsoft 365 Copilot

    Mandelbulb Technologies: Early-adopter Mandelbulb Technologies finds success with Fabric

    McKnight Foundation: McKnight Foundation accelerates its mission and supports community partners with Microsoft 365 Copilot

    MISO: MISO undergoes a digital transformation with Microsoft Industry Solutions Delivery

    Mitsubishi Heavy Industries (MHI): Recognizing the essence of AI and building the future with clients: MHI’s DI to create proprietary architecture using Azure OpenAI Service

    Molslinjen: Molslinjen develops an AI-powered dynamic pricing strategy with Azure Databricks

    National Australia Bank: National Australia Bank invests in an efficient, cloud-managed future with Windows 11 Enterprise

    Nagel-Group: Works agreements and contracts: Nagel-Group uses Azure OpenAI Service to help employees find information

    NC Fusion: Elevating experiences with AI, from productivity to personalization

    National Football League Players Association: The National Football League Players Association and Xoriant use Azure AI Services to provide protection to players across 32 teams

    Northwestern Medicine: Northwestern Medicine deploys DAX Copilot embedded in Epic within its enterprise to improve patient and physician experiences

    Oncoclínicas: Oncoclínicas creates web portal and mobile app to store clinical and medical procedures with Azure Cognitive Services

    PA Consulting: PA Consulting saves hours a week with Copilot for Microsoft 365 and Copilot for Sales

    Parexel: Parexel speeds operational insights by 70% using Microsoft Azure, accelerating data product delivery and reducing manual work

    Petrochemical Industries Company (PIC): From weeks to days, hours to seconds: PIC automates work processes to save time with Microsoft 365 Copilot

    PKSHA Technology: PKSHA leans on Copilot for Microsoft 365 as part of their team

    Planted: Planted combines economic growth and environmental sustainability — with Microsoft Azure OpenAI

    Profisee: Profisee eliminates data siloes within Microsoft Fabric

    Programa De Atención Domiciliaria: The Home Care Program in Panama helped more than 17,000 people with the power of Microsoft Power Automate

    PwC: PwC scales GenAI for enterprise with Microsoft Azure AI

    QNET: QNET increases security response efficiency 60 percent with Microsoft Security Solutions

    RTI International: Research nonprofit RTI International improves the human condition with Microsoft 365 Copilot

    Rijksmuseum: Rijksmuseum transforms how art lovers engage with the museum, with Dynamics 365

    Sandvik Coromant: Sandvik Coromant hones sales experience with Microsoft Copilot for Sales

    Share.Market: Share.Market redefines the investment experience with Microsoft Azure

    Simpson Associates: Simpson Associates spurs justice for at-risk communities with Azure AI

    Softchoice: Softchoice harnesses Microsoft Copilot and reduces content creation time by up to 70%, accelerating customer AI journeys with its experience

    Sonata Software: Sonata Software goes from early adopter to market leader with Fabric

    Swiss International Air Lines (SWISS): SWISS targets 30% cost savings, increased passenger satisfaction with Azure

    SymphonyAI: SymphonyAI is solving real problems across industries with Azure AI

    Syndigo: Syndigo accelerates digital commerce for its customers by more than 40% with Azure

    TAL: TAL and Microsoft join forces on strategic technology deal

    Tecnológico de Monterrey: Tecnológico de Monterrey university pioneers ambitious AI-powered learning ecosystem

    Telstra: Telstra and Microsoft expand strategic partnership to power Australia’s AI future

    The University of Sydney: The University of Sydney utilizes the power of Azure OpenAI to allow professors to create their own AI assistants

    Torfaen County Borough: Torfaen County Borough Council streamlines organizational support for Social Care using Copilot for Microsoft 365

    Trace3: Trace3 expands the realm of clients’ possibilities with Windows 11 Pro and Microsoft Copilot

    Unilever: Unilever is reinventing the fundamentals of research and development with Azure Quantum Elements

    University of Wisconsin: Microsoft collaborates with Mass General Brigham and University of Wisconsin–Madison to further advance AI foundation models for medical imaging

    Via: Marketplace, online support, and remote work: Via embraces the digital world supported by Microsoft 365, Dynamics 365 and Azure

    Virgin Atlantic: How Virgin Atlantic is flying higher with Copilot

    Virgin Money: Redi, set, go: Virgin Money delivers exceptional customer experiences with Microsoft Copilot Studio

    Visier: Visier achieves performance improvements of up to five times using Azure OpenAI Service

    World2Meet (W2M): World2Meet, the travel company providing a better customer experience and operations with a new virtual assistant powered by Microsoft Azure

    Xavier College: Xavier College begins a process of modernizing its student information systems on Dynamics 365 and AI, unlocking powerful insights

    ZEISS: More time for research: ZEISS supports businesses and researchers with ZEISS arivis Cloud based on Microsoft Azure

    ZF Friedrichshafen AG (ZF Group): ZF Group builds manufacturing efficiency with over 25,000 apps on Power Platform

    Tags: Azure, Azure AI Services, Azure Cognitive Services, Azure Databricks, Azure OpenAI Service, Azure Quantum Elements, Azure Stack HCI, Copilot, Copilot for Sales, Copilot for Security, Copilot Studio, Dax Copilot, GitHub Copilot, Microsoft 365, Microsoft 365 Copilot, Microsoft AI Tour, Microsoft Cloud for Manufacturing, Microsoft Dynamics 365, Microsoft Fabric, Microsoft Ignite, Microsoft Power Platform, Microsoft Sentinel, Microsoft Teams, Microsoft Viva, Power Automate,

    MIL OSI Economics –

  • MIL-OSI: ASM announces third quarter 2024 results

    Source: GlobeNewswire (MIL-OSI)

    Almere, The Netherlands
    October 29, 2024, 6 p.m. CET

    AI-related demand drives robust growth in bookings and revenue

    ASM International N.V. (Euronext Amsterdam: ASM) today reports its Q3 2024 results (unaudited).

    Financial highlights

    € million Q3 2023 Q2 2024 Q3 2024
    New orders 627.4 755.4 815.3
    yoy change % at constant currencies 0% 56% 30%
           
    Revenue 622.3 706.1 778.6
    yoy change % at constant currencies 9% 6% 26%
           
    Gross profit margin % 48.1  % 49.8  % 49.4 %
    Adjusted gross profit margin 1 48.9  % 49.8  % 49.4 %
           
    Operating result 147.3 177.6 215.2
    Operating result margin % 23.7  % 25.1  % 27.6  %
           
    Adjusted operating result 1 157.2 182.3 219.9
    Adjusted operating result margin 1 25.3  % 25.8  % 28.2  %
           
    Net earnings 129.6 159.0 127.9
    Adjusted net earnings 1 139.1 164.7 133.6

    1 Adjusted figures are non-IFRS performance measures (previously referred to as “normalized”). Refer to Annex 3 for a reconciliation of non-IFRS performance measures.

    • New orders of €815 million in Q3 2024 increased by 30% at constant currencies (also 30% as reported) mainly driven by strong demand for gate-all-around (GAA) and high-bandwidth memory (HBM).
    • Revenue of €779 million increased by 26% at constant currencies (increased by 25% as reported) from Q3 of last year and at the upper end of the guidance (€740-780 million).
    • YoY improvement in adjusted gross profit margin is due to mix including slightly stronger-than-expected sales to China.
    • Adjusted operating result margin increased to 28.2%, compared to 25.3% in Q3 last year and increased from 25.8% last quarter mainly due to higher revenue and a one-off positive result of €7 million related to the sale of a building.
    • Revenue for Q4 2024 is expected to be in the range of €770-810 million.

    Comment

    “ASM delivered strong results against a backdrop of continued mixed market conditions,” said Hichem M’Saad, CEO of ASM. “Revenue increased 26% at constant currencies to €779 million in the third quarter of 2024, which is a new quarterly high and at the upper end of our guidance of €740-780 million. With a gross margin of 49.4%, and ongoing focus on cost control, adjusted operating result increased by 40% to €220 million compared to Q3 2023.
    Orders were up 30% to €815 million in Q3 2024 compared to last year’s Q3, driven by a further increase in orders for gate-all-around (GAA) technology and continued solid demand for high-bandwidth memory (HBM) DRAM applications. Total orders were ahead of our expectations at the start of the quarter due to some bookings that were pulled in from Q4.
    AI continues to be the dominant semiconductor end market driver, while recovery in other markets such as PCs and smartphones is still sluggish, and the automotive/industrial segments remain in a cyclical downturn. AI is increasingly driving the demand for the most advanced devices, both in logic/foundry and HBM DRAM, and this plays to the strengths of ASM.
    While recently announced capex reductions have somewhat impacted the outlook for advanced logic/foundry spending, we still project a substantial increase in our GAA-related sales in 2025. Leading customers have reiterated their plans to ramp the GAA node in high-volume manufacturing next year. With this transition we continue to expect meaningful increases in our served available market.  
    Sales and orders in China held up slightly better than expected in Q3. We still expect sales in China to be lower in the second half compared to the first half, and Q4 to be lower than Q3. While visibility for FY 2025 is still limited, we currently assume sales from Chinese customers to be moderately lower in the first half of 2025 compared to the second half of 2024.
    For SiC Epi, we still expect a double-digit percentage increase in sales in FY 2024, despite the current market slowdown in this segment, and reflecting the contribution from previously won new customers. We believe that SiC Epi remains an attractive long-term growth market. ASM is well positioned, in particular on the back of our recently launched PE2O8 SiC Epi tool, which combines our proven best-in-class film performance with a new dual-chamber high-productivity platform for 200mm applications.”

    Outlook

    On a currency-comparable level, we project revenue of €770-810 million for Q4 2024. At constant currencies and taking into account the guidance for Q4, we project revenue in the second half of 2024 to increase by slightly more than 15% compared to the first half, and for FY 2024, we expect revenue to show a year-on-year increase of approximately 10%.
    For WFE spending, a slight increase is expected in 2024, followed by continued growth in 2025. Based on this, we now expect revenue to be in the range of €3.2-3.6 billion for 2025, in particular driven by GAA related sales, and taking into account continued mixed end market conditions. This compares to our previous revenue target of €3.0-3.6 billion for 2025.
    In terms of order intake we expect the level in Q4 to be again solid, albeit lower than in the third quarter. GAA related orders are expected to further increase, offset by a drop in China orders and the effect of aforementioned order pull-ins in Q3.

    Share buyback program

    On February 27, 2024, ASM announced the authorization of a new share buyback program of up to €150 million. The program started on May 15, 2024, and was completed on July 25, 2024. In total, we repurchased 228,389 shares at an average price of €656.77, under the 2024 program.

    About ASM

    ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM International’s common stock trades on the Euronext Amsterdam Stock Exchange (symbol: ASM). For more information, visit ASM’s website at www.asm.com.

    Cautionary note regarding forward-looking statements: All matters discussed in this press release, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, changes in import/export regulations, epidemics, pandemics and other risks indicated in the company’s reports and financial statements. The company assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances.

    This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Quarterly earnings conference call details

    ASM will host the quarterly earnings conference call and webcast on Wednesday, October 30, 2024, at 3:00 p.m. CET.

    Conference-call participants should pre-register using this link to receive the dial-in numbers, passcode and a personal PIN, which are required to access the conference call.

    A simultaneous audio webcast and replay will be accessible at this link.

    The MIL Network –

  • MIL-OSI: C&F Financial Corporation Announces Net Income for Third Quarter and First Nine Months

    Source: GlobeNewswire (MIL-OSI)

    TOANO, Va., Oct. 29, 2024 (GLOBE NEWSWIRE) — C&F Financial Corporation (the Corporation) (NASDAQ: CFFI), the holding company for C&F Bank, today reported consolidated net income of $5.4 million for the third quarter of 2024, compared to $5.8 million for the third quarter of 2023. The Corporation reported consolidated net income of $13.9 million for the first nine months of 2024, compared to $18.7 million for the first nine months of 2023. The following table presents selected financial performance highlights for the periods indicated:

                                     
        For The Quarter Ended     For the Nine Months Ended  
    Consolidated Financial Highlights (unaudited)   9/30/2024     9/30/2023     9/30/2024     9/30/2023  
    Consolidated net income (000’s)   $ 5,420     $ 5,777     $ 13,889     $ 18,658  
                                     
    Earnings per share – basic and diluted   $ 1.65     $ 1.71     $ 4.15     $ 5.41  
                                     
    Annualized return on average equity     9.74 %     11.28 %     8.47 %     12.22 %
    Annualized return on average tangible common equity1     11.16 %     13.19 %     9.74 %     14.18 %
    Annualized return on average assets     0.86 %     0.96 %     0.75 %     1.04 %

    ________________________
    1 For more information about these non-GAAP financial measures, which are not calculated in accordance with generally accepted accounting principles (GAAP), please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures,” below.

    “We are pleased with our results from the third quarter,” commented Tom Cherry, President and Chief Executive Officer of C&F Financial Corporation. “Both loans and deposits demonstrated solid growth, and the community banking segment showed increased earnings when compared to the previous quarter. Despite market and industry challenges, the consumer finance and mortgage banking segments remained profitable. Our net interest margin was relatively flat when compared to the second quarter, which was expected, and asset quality, liquidity and capital all remain strong.”

    Key highlights for the third quarter and first nine months of 2024 are as follows.

    • Community banking segment loans grew $158.5 million, or 16.6 percent annualized, and $185.6 million, or 14.9 percent, compared to December 31, 2023 and September 30, 2023, respectively;
    • Consumer finance segment loans grew $8.8 million, or 2.5 percent annualized, and $6.1 million, or 1.3 percent, compared to December 31, 2023 and September 30, 2023, respectively;
    • Deposits increased $69.8 million, or 4.5 percent annualized, and $107.5 million, or 5.3 percent, compared to December 31, 2023 and September 30, 2023, respectively;
    • Consolidated annualized net interest margin was 4.13 percent for the third quarter of 2024 compared to 4.29 percent for the third quarter of 2023 and 4.12 percent in the second quarter of 2024;
    • The community banking segment recorded provision for credit losses of $700,000 and $1.7 million for the third quarter and first nine months of 2024, respectively, compared to $500,000 and $1.6 million for the same periods in 2023;
    • The consumer finance segment recorded provision for credit losses of $3.0 million and $8.1 million for the third quarter and first nine months of 2024, respectively, compared to $1.6 million and $4.3 million for the same periods in 2023;
    • The consumer finance segment experienced net charge-offs at an annualized rate of 2.36 percent of average total loans for the first nine months of 2024, compared to 1.75 percent for the first nine months of 2023;
    • Mortgage banking segment loan originations were $157.0 million for the third quarter of 2024, an increase of $27.3 million, or 21.1 percent, and an increase of $11.0 million, or 7.5 percent, compared to the third quarter of 2023 and the second quarter of 2024, respectively;
    • During the third quarter of 2024, the community banking segment opened a new retail banking branch in Colonial Heights, Virginia and announced the closure of its Hampton, Virginia branch in the fourth quarter of 2024.

    Community Banking Segment. The community banking segment reported net income of $5.3 million and $13.9 million for the third quarter and first nine months of 2024, respectively, compared to $5.7 million and $17.7 million for the same periods in 2023. The decreases in community banking segment net income were due primarily to:

    • higher interest expense due primarily to higher rates on deposits and higher balances of interest-bearing deposits, partially offset by lower balances of borrowings;
    • higher salaries and employee benefits expense for the first nine months of 2024, as compared to the same period in 2023, which have generally increased in line with market conditions. Salaries and employee benefits expense decreased to $8.9 million for the three months ended September 30, 2024, compared to $9.1 million and $9.4 million for the three months ended June 30, 2024 and March 31, 2024, respectively, due primarily to a reduction in headcount through attrition;
    • higher occupancy expense related to branch network improvements, including the relocation of a branch and the opening of a new branch; and
    • higher data processing and consulting costs related to investments in operational technology to improve resilience, efficiency and customer experience;

    partially offset by:

    • higher interest income resulting from the effects of higher interest rates on asset yields and higher average balances of loans, offset in part by lower average balances of securities; and
    • higher wealth management services income as assets under management increased 19.0 percent for the first nine months of 2024, as compared to the same period in 2023.

    Average loans increased $186.5 million, or 15.2 percent, for the third quarter of 2024 and increased $158.4 million, or 13.2 percent, for the first nine months of 2024, compared to the same periods in 2023, due primarily to growth in the construction, commercial real estate, and residential mortgage segments of the loan portfolio. Average deposits increased $135.8 million, or 6.8 percent, for the third quarter of 2024 and increased $101.2 million, or 5.1 percent, for the first nine months of 2024, compared to the same periods in 2023, due primarily to higher balance of time deposits, partially offset by decreases in savings and interest-bearing demand deposits and noninterest-bearing demand deposits.

    Average loan yields and average costs of interest-bearing deposits were higher for the third quarter and first nine months of 2024, compared to the same periods of 2023, due primarily to the effects of the higher interest rate environment.

    The community banking segment’s nonaccrual loans were $628,000 at September 30, 2024 compared to $406,000 at December 31, 2023. The community banking segment recorded provision for credit losses of $700,000 and $1.7 million for the third quarter and first nine months of 2024, respectively, compared to $500,000 and $1.6 million for the same periods of 2023. At September 30, 2024, the allowance for credit losses increased to $17.5 million, compared to $16.1 million at December 31, 2023. The allowance for credit losses as a percentage of total loans decreased to 1.22 percent at September 30, 2024 from 1.26 percent at December 31, 2023. The increases in provision and allowance for credit losses are due primarily to growth in the loan portfolio. Management believes that the level of the allowance for credit losses is adequate to reflect the net amount expected to be collected.

    Mortgage Banking Segment. The mortgage banking segment reported net income of $351,000 for the third quarter of 2024, compared to a net loss of $5,000 for the same period of 2023, due primarily to:

    • higher gains on sales of loans due to higher volume of mortgage loan originations; and
    • higher mortgage banking fee income;

    partially offset by:

    • higher variable expenses tied to mortgage loan origination volume such as commissions and bonuses, reported in salaries and employee benefits, and data processing expenses.

    The mortgage banking segment reported net income of $1.0 million for the first nine months of 2024, compared to $568,000 for the same period of 2023, due primarily to:

    • lower variable expenses tied to mortgage loan origination volume such as commissions and bonuses, reported in salaries and employee benefits, as well as mortgage banking loan processing expenses and data processing expenses;
    • lower occupancy expense due to an effort to reduce overhead costs;
    • higher mortgage banking fee income; and
    • relatively unchanged gains on sales of loans and mortgage loan production volume;

    partially offset by:

    • lower mortgage lender services income due lower mortgage loan production volume across the industry.

    The sustained elevated level of mortgage interest rates, combined with higher home prices and lower levels of inventory, has led to a level of mortgage loan originations in 2024 and 2023 for the industry that is lower than recent historical averages. Mortgage loan originations for the mortgage banking segment were $157.0 million for the third quarter of 2024, comprised of $15.0 million refinancings and $142.0 million home purchases, compared to $129.7 million, comprised of $11.9 million refinancings and $117.8 million home purchases, for the same period in 2023. Mortgage loan originations for the mortgage banking segment were $397.3 million for the first nine months of 2024, comprised of $34.3 million refinancings and $363.0 million home purchases, compared to $400.6 million, comprised of $40.2 million refinancings and $360.4 million home purchases, for the same period in 2023. Mortgage loan originations in the third quarter of 2024 increased $11.0 million compared to the second quarter of 2024 due in part to normal industry seasonal fluctuations. Mortgage loan segment originations include originations of loans sold to the community banking segment, at prices similar to those paid by third-party investors. These transactions are eliminated to reach consolidated totals.

    During the third quarter and first nine months of 2024, the mortgage banking segment recorded a reversal of provision for indemnification losses of $100,000 and $375,000, respectively, compared to a reversal of provision for indemnification losses of $200,000 and $435,000 in the same periods of 2023. The mortgage banking segment increased reserves for indemnification losses during 2020 based on widespread forbearance on mortgage loans and economic uncertainty related to the COVID-19 pandemic. The release of indemnification reserves in 2024 and 2023 was due primarily to improvement in the mortgage banking segment’s assessment of borrower payment performance, lower volume of mortgage loan originations in recent years and other factors affecting expected losses on mortgage loans sold in the secondary market, such as time since origination. Management believes that the indemnification reserve is sufficient to absorb losses related to loans that have been sold in the secondary market.

    Consumer Finance Segment.   The consumer finance segment reported net income of $311,000 and $1.1 million for the third quarter and first nine months of 2024, respectively, compared to net income of $682,000 and $2.3 million for the same periods in 2023. The decreases in consumer finance segment net income were due primarily to:

    • higher provision for credit losses due primarily to increased net charge-offs and loan growth; and
    • higher interest expense on variable rate borrowings from the community banking segment as a result of higher interest rates and higher balances of borrowings;

    partially offset by:

    • higher interest income resulting from the effects of higher interest rates on loan yields and higher average balances of loans;
    • lower salaries and employee benefits expense due to an effort to reduce overhead costs; and
    • lower loan recovery expense related to growth in loans with stronger credit quality and efficiency initiatives within the collections department.

    Average loans increased $8.3 million, or 1.8 percent, for the third quarter of 2024 and increased $3.0 million, or less than one percent, for the first nine months of 2024, compared to the same periods in 2023. The consumer finance segment experienced net charge-offs at an annualized rate of 2.36 percent of average total loans for the first nine months of 2024, compared to 1.75 percent for the first nine months of 2023, due primarily to an increase in the number of delinquent loans and repossessions and a higher average charge-off per unit as a result of larger loan amounts due to higher automobile values during 2020 and 2021 and a decline in wholesale values of used automobiles since then. At September 30, 2024, total delinquent loans as a percentage of total loans was 3.49 percent, compared to 4.09 percent at December 31, 2023, 3.30 percent at September 30, 2023, and 3.51 percent at June 30, 2024. Delinquency and loss rates have generally returned to pre-pandemic levels due to the passage of time since the expiration of stimulus and enhanced unemployment benefits that benefitted borrowers.

    The consumer finance segment, at times, offers payment deferrals as a portfolio management technique to achieve higher ultimate cash collections on select loan accounts. A significant reliance on deferrals as a means of managing collections may result in a lengthening of the loss confirmation period, which would increase expectations of credit losses inherent in the portfolio. The average amounts deferred on a monthly basis during the third quarter and first nine months of 2024 were 1.91 percent and 1.70 percent of average automobile loans outstanding compared to 2.20 percent and 1.83 percent during the same periods during 2023. The allowance for credit losses was $23.2 million at September 30, 2024 and $23.6 million at December 31, 2023. The allowance for credit losses as a percentage of total loans decreased to 4.87 percent at September 30, 2024 from 5.03 percent at December 31, 2023, primarily as a result of growth in loans with stronger credit quality while balances of loans with lower credit quality declined. Management believes that the level of the allowance for credit losses is adequate to reflect the net amount expected to be collected. If loan performance deteriorates resulting in further elevated delinquencies or net charge-offs, the provision for credit losses may increase in future periods.

    Liquidity. The objective of the Corporation’s liquidity management is to ensure the continuous availability of funds to satisfy the credit needs of our customers and the demands of our depositors, creditors and investors. Uninsured deposits represent an estimate of amounts above the Federal Deposit Insurance Corporation (FDIC) insurance coverage limit of $250,000. As of September 30, 2024, the Corporation’s uninsured deposits were approximately $607.6 million, or 28.5 percent of total deposits. Excluding intercompany cash holdings and municipal deposits, which are secured with pledged securities, amounts uninsured were approximately $455.6 million, or 21.3 percent of total deposits as of September 30, 2024. The Corporation’s liquid assets, which include cash and due from banks, interest-bearing deposits at other banks and nonpledged securities available for sale, were $287.4 million and borrowing availability was $583.8 million as of September 30, 2024, which in total exceed uninsured deposits, excluding intercompany cash holdings and secured municipal deposits, by $415.6 million as of September 30, 2024.

    In addition to deposits, the Corporation utilizes short-term and long-term borrowings as sources of funds. Short-term borrowings from the Federal Reserve Bank and the Federal Home loan Bank of Atlanta (FHLB) may be used to fund the Corporation’s day-to-day operations. Short-term borrowings also include securities sold under agreements to repurchase. Total borrowings increased to $142.3 million at September 30, 2024 from $109.5 million at December 31, 2023 due primarily to higher borrowings from the FHLB. Borrowings decreased $4.7 million from $147.0 million at September 30, 2023.

    Additional sources of liquidity available to the Corporation include cash flows from operations, loan payments and payoffs, deposit growth, maturities, calls and sales of securities and the issuance of brokered certificates of deposit.

    Capital and Dividends.   The Corporation declared a quarterly cash dividend for the third quarter of 2024 of $0.44 per share, which was paid on October 1, 2024. This dividend represents a payout ratio of 26.7 percent of earnings per share for the third quarter of 2024. The Board of Directors of the Corporation continually reviews the amount of cash dividends per share and the resulting dividend payout ratio in light of changes in economic conditions, current and future capital requirements, and expected future earnings.

    Total consolidated equity increased $10.4 million at September 30, 2024, compared to December 31, 2023, due primarily to net income and lower unrealized losses in the market value of securities available for sale, which are recognized as a component of other comprehensive income, partially offset by share repurchases and dividends paid on the Corporation’s common stock. The Corporation’s securities available for sale are fixed income debt securities and their unrealized loss position is a result of rising market interest rates since they were purchased. The Corporation expects to recover its investments in debt securities through scheduled payments of principal and interest and unrealized losses are not expected to affect the earnings or regulatory capital of the Corporation or C&F Bank. The accumulated other comprehensive loss related to the Corporation’s securities available for sale decreased to $17.2 million at September 30, 2024 compared to $25.0 million at December 31, 2023 due primarily to fluctuations in market interest rates of debt securities.

    As of September 30, 2024, the most recent notification from the FDIC categorized the C&F Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized under regulations applicable at September 30, 2024, C&F Bank was required to maintain minimum total risk-based, Tier 1 risk-based, CET1 risk-based and Tier 1 leverage ratios. In addition to the regulatory risk-based capital requirements, C&F Bank must maintain a capital conservation buffer of additional capital of 2.5 percent of risk-weighted assets as required by the Basel III capital rules. The Corporation and C&F Bank exceeded these ratios at September 30, 2024. For additional information, see “Capital Ratios” below. The above mentioned ratios are not impacted by unrealized losses on securities available for sale. In the event that all of these unrealized losses became realized into earnings, the Corporation and C&F Bank would both continue to exceed minimum capital requirements, including the capital conservation buffer, and be considered well capitalized.

    In December 2023, the Board of Directors authorized a program, effective January 1, 2024, to repurchase up to $10.0 million of the Corporation’s common stock through December 31, 2024. During the third quarter and first nine months of 2024, the Corporation repurchased 60,520 shares, or $3.2 million, and 149,594 shares, or $7.3 million, of its common stock under this share repurchase program, respectively.

    About C&F Financial Corporation.  The Corporation’s common stock is listed for trading on The Nasdaq Stock Market under the symbol CFFI. The common stock closed at a price of $61.78 per share on October 28, 2024. At September 30, 2024, the book value per share of the Corporation was $70.29 and the tangible book value per share was $62.13. For more information about the Corporation’s tangible book value per share, which is not calculated in accordance with GAAP, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures,” below.

    C&F Bank operates 32 banking offices and four commercial loan offices located throughout eastern and central Virginia and offers full wealth management services through its subsidiary C&F Wealth Management, Inc. C&F Mortgage Corporation and its subsidiary C&F Select LLC provide mortgage loan origination services through offices located in Virginia, North Carolina, and West Virginia. C&F Finance Company provides automobile, marine and recreational vehicle loans through indirect lending programs offered in Alabama, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Maryland, Minnesota, Missouri, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and West Virginia from its headquarters in Henrico, Virginia.

    Additional information regarding the Corporation’s products and services, as well as access to its filings with the Securities and Exchange Commission (SEC), are available on the Corporation’s website at http://www.cffc.com.

    Use of Certain Non-GAAP Financial Measures. The accounting and reporting policies of the Corporation conform to GAAP in the United States and prevailing practices in the banking industry. However, certain non-GAAP measures are used by management to supplement the evaluation of the Corporation’s performance. These include adjusted net income, adjusted earnings per share, adjusted return on average equity, adjusted return on average assets, return on average tangible common equity (ROTCE), adjusted ROTCE, tangible book value per share, price to tangible book value ratio, and the following fully-taxable equivalent (FTE) measures: interest income on loans-FTE, interest income on securities-FTE, total interest income-FTE and net interest income-FTE.

    Management believes that the use of these non-GAAP measures provides meaningful information about operating performance by enhancing comparability with other financial periods, other financial institutions, and between different sources of interest income. The non-GAAP measures used by management enhance comparability by excluding the effects of balances of intangible assets, including goodwill, that vary significantly between institutions, and tax benefits that are not consistent across different opportunities for investment. These non-GAAP financial measures should not be considered an alternative to GAAP-basis financial statements, and other bank holding companies may define or calculate these or similar measures differently. A reconciliation of the non-GAAP financial measures used by the Corporation to evaluate and measure the Corporation’s performance to the most directly comparable GAAP financial measures is presented below.

    Forward-Looking Statements.   This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the beliefs of the Corporation’s management, as well as assumptions made by, and information currently available to, the Corporation’s management, and reflect management’s current views with respect to certain events that could have an impact on the Corporation’s future financial performance. These statements, including without limitation statements made in Mr. Cherry’s quote and statements regarding future interest rates and conditions in the Corporation’s industries and markets, relate to expectations concerning matters that are not historical fact, may express “belief,” “intention,” “expectation,” “potential” and similar expressions, and may use the words “believe,” “expect,” “anticipate,” “estimate,” “plan,” “may,” “might,” “will,” “intend,” “target,” “should,” “could,” or similar expressions. These statements are inherently uncertain, and there can be no assurance that the underlying assumptions will prove to be accurate. Actual results could differ materially from those anticipated or implied by such statements. Forward-looking statements in this release may include, without limitation, statements regarding expected future operations and financial performance, expected trends in yields on loans, expected future recovery of investments in debt securities, future dividend payments, deposit trends, charge-offs and delinquencies, changes in cost of funds and net interest margin and items affecting net interest margin, strategic business initiatives and the anticipated effects thereof, changes in interest rates and the effects thereof on net interest income, mortgage loan originations, expectations regarding C&F Bank’s regulatory risk-based capital requirement levels, technology initiatives, our diversified business strategy, asset quality, credit quality, adequacy of allowances for credit losses and the level of future charge-offs, market interest rates and housing inventory and resulting effects in mortgage loan origination volume, sources of liquidity, adequacy of the reserve for indemnification losses related to loans sold in the secondary market, the effect of future market and industry trends, the effects of future interest rate fluctuations, cybersecurity risks, and inflation. Factors that could have a material adverse effect on the operations and future prospects of the Corporation include, but are not limited to, changes in:

    • interest rates, such as volatility in short-term interest rates or yields on U.S. Treasury bonds, increases in interest rates following actions by the Federal Reserve and increases or volatility in mortgage interest rates
    • general business conditions, as well as conditions within the financial markets
    • general economic conditions, including unemployment levels, inflation rates, supply chain disruptions and slowdowns in economic growth
    • general market conditions, including disruptions due to pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises, war and other military conflicts (including the ongoing military conflicts between Russia and Ukraine and in the Middle East) or other major events, or the prospect of these events
    • average loan yields and average costs of interest-bearing deposits
    • financial services industry conditions, including bank failures or concerns involving liquidity
    • labor market conditions, including attracting, hiring, training, motivating and retaining qualified employees
    • the legislative/regulatory climate, regulatory initiatives with respect to financial institutions, products and services, the Consumer Financial Protection Bureau (the CFPB) and the regulatory and enforcement activities of the CFPB
    • monetary and fiscal policies of the U.S. Government, including policies of the FDIC, U.S. Department of the Treasury and the Board of Governors of the Federal Reserve System, and the effect of these policies on interest rates and business in our markets
    • demand for financial services in the Corporation’s market area
    • the value of securities held in the Corporation’s investment portfolios
    • the quality or composition of the loan portfolios and the value of the collateral securing those loans
    • the inventory level, demand and fluctuations in the pricing of used automobiles, including sales prices of repossessed vehicles
    • the level of automobile loan delinquencies or defaults and our ability to repossess automobiles securing delinquent automobile finance installment contracts
    • the level of net charge-offs on loans and the adequacy of our allowance for credit losses
    • the level of indemnification losses related to mortgage loans sold
    • demand for loan products
    • deposit flows
    • the strength of the Corporation’s counterparties
    • the availability of lines of credit from the FHLB and other counterparties
    • the soundness of other financial institutions and any indirect exposure related to the closing of other financial institutions and their impact on the broader market through other customers, suppliers and partners, or that the conditions which resulted in the liquidity concerns experienced by closed financial institutions may also adversely impact, directly or indirectly, other financial institutions and market participants with which the Corporation has commercial or deposit relationships
    • competition from both banks and non-banks, including competition in the non-prime automobile finance markets and marine and recreational vehicle finance markets
    • services provided by, or the level of the Corporation’s reliance upon third parties for key services
    • the commercial and residential real estate markets, including changes in property values
    • the demand for residential mortgages and conditions in the secondary residential mortgage loan markets
    • the Corporation’s technology initiatives and other strategic initiatives
    • the Corporation’s branch expansions and consolidations plans
    • cyber threats, attacks or events
    • C&F Bank’s product offerings
    • accounting principles, policies and guidelines, and elections by the Corporation thereunder

    These risks and uncertainties should be considered in evaluating the forward-looking statements contained herein, and readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. For additional information on risk factors that could affect the forward-looking statements contained herein, see the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2023 and other reports filed with the SEC. The Corporation undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

       
    C&F Financial CorporationSelected Financial Information
    (dollars in thousands, except for per share data)
    (unaudited)    		  
       
    Financial Condition   9/30/2024    12/31/2023    9/30/2023  
    Interest-bearing deposits in other banks   $ 32,507   $ 58,777   $ 53,407  
    Investment securities – available for sale, at fair value     409,045     462,444     460,653  
    Loans held for sale, at fair value     44,677     14,176     25,469  
    Loans, net:                    
    Community Banking segment     1,414,576     1,257,557     1,230,694  
    Consumer Finance segment     454,062     444,931     446,787  
    Total assets     2,550,904     2,438,498     2,421,705  
    Deposits     2,135,891     2,066,130     2,028,429  
    Repurchase agreements     28,643     30,705     28,660  
    Other borrowings     113,683     78,834     118,388  
    Total equity     227,958     217,516     200,380  
                                     
        For The     For The  
        Quarter Ended     Nine Months Ended  
    Results of Operations   9/30/2024     9/30/2023     9/30/2024     9/30/2023  
    Interest income   $ 36,131     $ 31,686     $ 103,151     $ 91,729  
    Interest expense     11,442       7,224       31,476       17,964  
    Provision for credit losses:                                
    Community Banking segment     700       500       1,650       1,550  
    Consumer Finance segment     3,000       1,550       8,100       4,250  
    Noninterest income:                                
    Gains on sales of loans     1,825       1,220       4,814       4,930  
    Other     6,947       4,994       18,774       16,882  
    Noninterest expenses:                                
    Salaries and employee benefits     13,921       12,921       41,625       40,841  
    Other     9,170       8,605       26,989       25,969  
    Income tax expense     1,250       1,323       3,010       4,309  
    Net income     5,420       5,777       13,889       18,658  
                                     
    Fully-taxable equivalent (FTE) amounts1                                
    Interest income on loans-FTE     33,070       28,423       94,166       81,999  
    Interest income on securities-FTE     2,958       3,134       9,033       9,589  
    Total interest income-FTE     36,417       31,936       104,010       92,424  
    Net interest income-FTE     24,975       24,712       72,534       74,460  

    ________________________
    1For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”

                                       
        For the Quarter Ended  
          9/30/2024      9/30/2023     
        Average      Income/      Yield/   Average      Income/      Yield/  
    Yield Analysis   Balance     Expense     Rate   Balance     Expense     Rate  
    Assets                                  
    Securities:                                  
    Taxable   $ 318,834     $ 1,828   2.29 % $ 414,036     $ 2,207   2.13 %
    Tax-exempt     119,253       1,130   3.79     110,182       927   3.37  
    Total securities     438,087       2,958   2.70     524,218       3,134   2.39  
    Loans:                                  
    Community banking segment     1,411,337       19,797   5.58     1,224,791       15,887   5.15  
    Mortgage banking segment     40,232       597   5.90     30,210       517   6.79  
    Consumer finance segment     481,124       12,676   10.48     472,811       12,019   10.09  
    Total loans     1,932,693       33,070   6.81     1,727,812       28,423   6.53  
    Interest-bearing deposits in other banks     38,756       389   3.99     38,507       379   3.90  
    Total earning assets     2,409,536       36,417   6.02     2,290,537       31,936   5.54  
    Allowance for credit losses     (40,879 )               (41,014 )            
    Total non-earning assets     158,063                 151,070              
    Total assets   $ 2,526,720               $ 2,400,593              
                                       
    Liabilities and Equity                                  
    Interest-bearing deposits:                                  
    Interest-bearing demand deposits   $ 323,019       540   0.67   $ 341,707       505   0.59  
    Money market deposit accounts     293,789       1,104   1.49     304,309       782   1.02  
    Savings accounts     178,417       23   0.05     204,042       29   0.06  
    Certificates of deposit     801,669       8,524   4.23     571,499       4,316   3.00  
    Total interest-bearing deposits     1,596,894       10,191   2.54     1,421,557       5,632   1.57  
    Borrowings:                                  
    Repurchase agreements     27,207       117   1.72     29,440       95   1.29  
    Other borrowings     93,961       1,134   4.83     122,250       1,497   4.90  
    Total borrowings     121,168       1,251   4.13     151,690       1,592   4.20  
    Total interest-bearing liabilities     1,718,062       11,442   2.65     1,573,247       7,224   1.83  
    Noninterest-bearing demand deposits     537,796                 577,382              
    Other liabilities     48,330                 45,124              
    Total liabilities     2,304,188                 2,195,753              
    Equity     222,532                 204,840              
    Total liabilities and equity   $ 2,526,720               $ 2,400,593              
    Net interest income         $ 24,975             $ 24,712      
    Interest rate spread               3.37 %             3.71 %
    Interest expense to average earning assets               1.89 %             1.25 %
    Net interest margin               4.13 %             4.29 %
                                       
        For the Nine Months Ended  
          9/30/2024      9/30/2023     
        Average      Income/      Yield/   Average      Income/      Yield/  
    Yield Analysis   Balance     Expense     Rate   Balance     Expense     Rate  
    Assets                                  
    Securities:                                  
    Taxable   $ 340,297     $ 5,665   2.22 % $ 441,204     $ 7,017   2.12 %
    Tax-exempt     119,931       3,368   3.74     104,549       2,572   3.28  
    Total securities     460,228       9,033   2.62     545,753       9,589   2.34  
    Loans:                                  
    Community banking segment     1,357,962       55,671   5.48     1,199,560       45,375   5.06  
    Mortgage banking segment     30,759       1,411   6.13     26,713       1,312   6.57  
    Consumer finance segment     477,768       37,084   10.37     474,738       35,312   9.94  
    Total loans     1,866,489       94,166   6.74     1,701,011       81,999   6.45  
    Interest-bearing deposits in other banks     30,197       811   3.59     33,072       836   3.38  
    Total earning assets     2,356,914       104,010   5.89     2,279,836       92,424   5.42  
    Allowance for loan losses     (40,670 )               (41,192 )            
    Total non-earning assets     155,935                 150,826              
    Total assets   $ 2,472,179               $ 2,389,470              
                                       
    Liabilities and Equity                                  
    Interest-bearing deposits:                                  
    Interest-bearing demand deposits   $ 326,540       1,569   0.64   $ 359,157       1,578   0.59  
    Money market deposit accounts     295,257       3,177   1.44     323,630       2,121   0.88  
    Savings accounts     181,880       85   0.06     213,940       91   0.06  
    Certificates of deposit     753,114       23,140   4.10     509,424       9,447   2.48  
    Total interest-bearing deposits     1,556,791       27,971   2.40     1,406,151       13,237   1.26  
    Borrowings:                                  
    Repurchase agreements     26,774       325   1.62     32,048       273   1.14  
    Other borrowings     91,024       3,180   4.66     122,984       4,454   4.83  
    Total borrowings     117,798       3,505   3.97     155,032       4,727   4.07  
    Total interest-bearing liabilities     1,674,589       31,476   2.51     1,561,183       17,964   1.54  
    Noninterest-bearing demand deposits     533,113                 582,573              
    Other liabilities     45,835                 42,108              
    Total liabilities     2,253,537                 2,185,864              
    Equity     218,642                 203,606              
    Total liabilities and equity   $ 2,472,179               $ 2,389,470              
    Net interest income         $ 72,534             $ 74,460      
    Interest rate spread               3.38 %             3.88 %
    Interest expense to average earning assets               1.78 %             1.05 %
    Net interest margin               4.11 %             4.37 %
                       
        9/30/2024
    Funding Sources    Capacity      Outstanding      Available
    Unsecured federal funds agreements   $ 75,000   $ —   $ 75,000
    Borrowings from FHLB     254,445     60,000     194,445
    Borrowings from Federal Reserve Bank     314,385     —     314,385
    Total   $ 643,830   $ 60,000   $ 583,830
                   
    Asset Quality   9/30/2024   12/31/2023  
    Community Banking              
    Total loans   $ 1,432,109   $ 1,273,629  
    Nonaccrual loans   $ 628   $ 406  
                   
    Allowance for credit losses (ACL)   $ 17,533   $ 16,072  
    Nonaccrual loans to total loans     0.04 %   0.03 %
    ACL to total loans     1.22 %   1.26 %
    ACL to nonaccrual loans     2,791.88 %   3,958.62 %
    Annualized year-to-date net charge-offs to average loans     0.01 %   0.01 %
                   
    Consumer Finance              
    Total loans   $ 477,300   $ 468,510  
    Nonaccrual loans   $ 1,101   $ 892  
    Repossessed assets   $ 522   $ 646  
    ACL   $ 23,238   $ 23,579  
    Nonaccrual loans to total loans     0.23 %   0.19 %
    ACL to total loans     4.87 %   5.03 %
    ACL to nonaccrual loans     2,110.63 %   2,643.39 %
    Annualized year-to-date net charge-offs to average loans     2.36 %   1.99 %
                                     
        For The     For The  
        Quarter Ended     Nine Months Ended  
    Other Performance Data   9/30/2024     9/30/2023     9/30/2024     9/30/2023  
    Net Income (Loss):                                
    Community Banking   $ 5,337       $ 5,685       $ 13,920       $ 17,742    
    Mortgage Banking     351         (5 )       1,021         568    
    Consumer Finance     311         682         1,142         2,261    
    Other1     (579 )       (585 )       (2,194 )       (1,913 )  
    Total   $ 5,420       $ 5,777       $ 13,889       $ 18,658    
                                     
    Net income attributable to C&F Financial Corporation   $ 5,389       $ 5,789       $ 13,797       $ 18,536    
                                     
    Earnings per share – basic and diluted   $ 1.65       $ 1.71       $ 4.15       $ 5.41    
    Weighted average shares outstanding – basic and diluted     3,258,420         3,391,624         3,323,942         3,426,845    
                                     
    Annualized return on average assets     0.86   %     0.96   %     0.75   %     1.04   %
    Annualized return on average equity     9.74   %     11.28   %     8.47   %     12.22   %
    Annualized return on average tangible common equity2     11.16   %     13.19   %     9.74   %     14.18   %
    Dividends declared per share   $ 0.44       $ 0.44       $ 1.32       $ 1.32    
                                     
    Mortgage loan originations – Mortgage Banking   $ 156,968       $ 129,658       $ 397,324       $ 400,559    
    Mortgage loans sold – Mortgage Banking     146,143         140,214         367,449         389,465    

    ________________________
    1 Includes results of the holding company that are not allocated to the business segments and elimination of inter-segment activity.
    2 For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”

                   
    Market Ratios   9/30/2024     12/31/2023
    Market value per share   $ 58.35     $ 68.19
    Book value per share   $ 70.29     $ 64.28
    Price to book value ratio     0.83       1.06
    Tangible book value per share1   $ 62.13     $ 56.40
    Price to tangible book value ratio1     0.94       1.21
    Price to earnings ratio (ttm)     10.30       9.87

    ________________________
    1 For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”

                         
                         
                    Minimum Capital
    Capital Ratios   9/30/2024   12/31/2023   Requirements3
    C&F Financial Corporation1                    
    Total risk-based capital ratio     13.8 %   14.8 %   8.0 %
    Tier 1 risk-based capital ratio     11.6 %   12.6 %   6.0 %
    Common equity tier 1 capital ratio     10.5 %   11.3 %   4.5 %
    Tier 1 leverage ratio     9.8 %   10.1 %   4.0 %
                         
    C&F Bank2                    
    Total risk-based capital ratio     13.4 %   14.1 %   8.0 %
    Tier 1 risk-based capital ratio     12.1 %   12.9 %   6.0 %
    Common equity tier 1 capital ratio     12.1 %   12.9 %   4.5 %
    Tier 1 leverage ratio     10.1 %   10.3 %   4.0 %

    ________________________
    1 The Corporation, a small bank holding company under applicable regulations and guidance, is not subject to the minimum regulatory capital regulations for bank holding companies. The regulatory requirements that apply to bank holding companies that are subject to regulatory capital requirements are presented above, along with the Corporation’s capital ratios as determined under those regulations.
    2 All ratios at September 30, 2024 are estimates and subject to change pending regulatory filings. All ratios at December 31, 2023 are presented as filed.
    3 The ratios presented for minimum capital requirements are those to be considered adequately capitalized.

                                     
        For The Quarter Ended     For The Nine Months Ended  
        9/30/2024     9/30/2023     9/30/2024     9/30/2023  
    Reconciliation of Certain Non-GAAP Financial Measures                        
    Return on Average Tangible Common Equity                                
    Average total equity, as reported   $ 222,532       $ 204,840       $ 218,642       $ 203,606    
    Average goodwill     (25,191 )       (25,191 )       (25,191 )       (25,191 )  
    Average other intangible assets     (1,242 )       (1,507 )       (1,303 )       (1,572 )  
    Average noncontrolling interest     (573 )       (484 )       (670 )       (668 )  
    Average tangible common equity   $ 195,526       $ 177,658       $ 191,478       $ 176,175    
                                     
    Net income   $ 5,420       $ 5,777       $ 13,889       $ 18,658    
    Amortization of intangibles     65         69         195         205    
    Net (income) loss attributable to noncontrolling interest     (31 )       12         (92 )       (122 )  
    Net tangible income attributable to C&F Financial Corporation   $ 5,454       $ 5,858       $ 13,992       $ 18,741    
                                     
    Annualized return on average equity, as reported     9.74   %     11.28   %     8.47   %     12.22   %
    Annualized return on average tangible common equity     11.16   %     13.19   %     9.74   %     14.18   %
                                 
        For The Quarter Ended     For The Nine Months Ended
        9/30/2024     9/30/2023     9/30/2024   9/30/2023
    Fully Taxable Equivalent Net Interest Income1                            
    Interest income on loans   $ 33,021     $ 28,369     $ 94,014   $ 81,845
    FTE adjustment     49       54       152     154
    FTE interest income on loans   $ 33,070     $ 28,423     $ 94,166   $ 81,999
                                 
    Interest income on securities   $ 2,721     $ 2,938     $ 8,326   $ 9,048
    FTE adjustment     237       196       707     541
    FTE interest income on securities   $ 2,958     $ 3,134     $ 9,033   $ 9,589
                                 
    Total interest income   $ 36,131     $ 31,686     $ 103,151   $ 91,729
    FTE adjustment     286       250       859     695
    FTE interest income   $ 36,417     $ 31,936     $ 104,010   $ 92,424
                                 
    Net interest income   $ 24,689     $ 24,462     $ 71,675   $ 73,765
    FTE adjustment     286       250       859     695
    FTE net interest income   $ 24,975     $ 24,712     $ 72,534   $ 74,460

    ____________________
    1 Assuming a tax rate of 21%.

                   
        9/30/2024     12/31/2023
    Tangible Book Value Per Share          
    Equity attributable to C&F Financial Corporation   $ 227,340       $ 216,878  
    Goodwill     (25,191 )       (25,191 )
    Other intangible assets     (1,211 )       (1,407 )
    Tangible equity attributable to C&F Financial Corporation   $ 200,938       $ 190,280  
                   
    Shares outstanding     3,234,363         3,374,098  
                   
    Book value per share   $ 70.29       $ 64.28  
    Tangible book value per share   $ 62.13       $ 56.40  
       
    Contact: Jason Long, CFO and Secretary
      (804) 843-2360

    The MIL Network –

  • MIL-OSI United Kingdom: City Council Celebrates National Care Leavers Week with a Supportive Programme of Events

    Source: City of Liverpool

    During National Care Leavers Week (28 October – 3 November), the Council is proudly recognising the achievements of care-experienced young people with a week that promises a mix of enriching activities designed to uplift and empower care leavers.

    These activities include:

    • A relaxing mindfulness session, providing care leavers with the chance to unwind, de-stress and learn techniques for nurturing mental wellbeing.
    • Workshops on team building, skills identification and effective communication from organisations Thrive and Catch 22.
    • A dedicated workshop will provide insights into recognising and managing mental health challenges, offering a safe space for open discussions and resources for seeking help.

    We encourage care leavers from across the city to get involved. Find out more here.

    Liverpool’s commitment to supporting care leavers extends beyond the events of National Care Leavers week.

    Recent initiatives such as the Care Leavers’ Conference at St George’s Hall, hosted by Liverpool City Council and the Lord Mayor of Liverpool Cllr Richard Kemp, successfully brought together businesses and organisations to raise awareness and create new opportunities.

    Looking ahead, the Council is also preparing for the Celebration of Achievements, an annual event recognising the accomplishments of care leavers, from educational successes to personal milestones.

    To further mark National Care Leavers’ Week, Liverpool will light up its civic buildings in blue on Wednesday 30 October, symbolising our solidarity with care leavers across the city.

    Liz Parsons Cabinet Member for Children’s Social Care said: “Liverpool City Council firmly believes that every young person leaving care deserves a bright future.

    “This celebration is an opportunity for the public, professionals, carers, decision-makers and the media to come together, celebrate our care leavers and their achievements and raise awareness of the challenges that our young people can face.

    “Through continued support and empowerment our young people can achieve their full potential.”

    Mollieanne, who is care-experienced herself, is a passionate advocate for other young people who have been in care. She added: “Celebrating and supporting care leavers is so important because it reminds us that we are valued, and our achievements matter. National Care Leavers Week isn’t just about recognition, it’s about empowering us to believe in ourselves, showing that we’re not alone, and that there are people who care about our future.

    “It’s a chance to come together, share our stories, and find strength in knowing that our experiences make us resilient. When we feel supported, we can overcome any challenge.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Sheffield extends hand of friendship to Nablus A Declaration of Friendship has been signed between the City of Sheffield and the City of Nablus on the West Bank in Palestine, at a virtual ceremony today (Tuesday 29th October 2024). 29 October 2024

    Source: City of Sheffield

    Cllr Johnson, Cllr Hunt, the Lord Mayor and Cllr Mohammad signing the declaration

    A Declaration of Friendship has been signed between the City of Sheffield and the City of Nablus on the West Bank in Palestine, at a virtual ceremony today (Tuesday 29th October 2024).

    The declaration outlines the intention of both cities to promote friendship, understanding and exchange experience and knowledge in different fields and areas, including education and environment. 

    The agreement is a statement of intention and is not legally binding and will be reviewed every 12 months by both parties.

    Councillor Jayne Dunn, Lord Mayor of Sheffield City Council, said:

    “I am delighted that today we have entered into a Friendship Agreement with the City of Nablus.

    “In recent years, our two cities have developed strong cultural and educational links and that is why we believe extending a hand of friendship is appropriate.

    “I look forward to seeing what our two societies can learn from each other.”

    In November 2023, Sheffield City Council’s Strategy and Resources Committee agreed on a Partner City Policy. In this policy, the Council committed to producing an annual review of all their relationships with international cities.

    This review provided the Council with the opportunity to address any requests that had been made to establish relationships with Sheffield, with the only outstanding request coming from Nablus.

    In the past five years, Sheffield and Nablus have already established cultural and educational links.

    Going forward, connections will be developed in areas that both cities share similar aims and goals, including youth services and their sports offer.

    MIL OSI United Kingdom –

  • MIL-OSI Global: Norman coin hoard becomes England’s most valuable treasure – it could have been worth a lot more

    Source: The Conversation – UK – By Chloe Duckworth, Reader in Archaeological Science & Public Engagement, Newcastle University

    There is clearly giddy excitement in the shaky footage showing hands scrabbling in the soil in the Chew Valley in south-west England. A close-up shot captures someone pulling silver coin after silver coin from the churned earth as a woman laughs “there’s pennies everywhere.” The video accompanied news reports in 2019 of the monumental find by seven detectorists of a hoard of silver coins dating from the time of the Norman conquest in the 11th century.

    The hoard has just been purchased for a whopping £4.3 million by the South West Heritage Trust. While this might be the largest amount ever paid for such a discovery, as an archaeological scientist I can tell you that much of its historical value was lost the moment it was pulled from the ground.

    Such stories of amateur finds are easy to get behind. Detectorists are the underdogs – amateurs who are driven by their passion for the past to spend their free time diligently searching for hidden treasures.

    The nation’s love of such stories was seized upon in Mackenzie Crook’s gently hilarious television show, Detectorists (2014). As reflected in the series, however, metal detecting has a fraught relationship with archaeology.

    The videos showing the detectorists scrambling excitedly in the dirt.

    While both involve digging up remains of the past, the two groups have different opinions on what is most important when it comes to such finds. For archaeologists, the finds themselves are often less important than the context in which they were discovered – the opposite is true for detectorists.

    The detectorists in the Chew Valley were acting within the law. They first sought permission from the landowner, and ensured the find was reported to the authorities. However, as the video of the discovery shows, the coins were dug out haphazardly.

    Archaeologists would have gone about this in a different way, following a scientific process of excavation and recording. This is because once excavated the contextual information is destroyed forever.

    For instance, when speaking about the Chew Valley Hoard on Radio 4’s PM programme, Professor Michael Lewis, head of the Portable Antiquities Scheme (a voluntary government-run programme that records small finds of archaeological interest by members of the public), struggled to answer any specific questions about the circumstances in which the hoard had originally been interred. This is because of the way it had been dug up.

    To dig or not to dig?

    Archaeology today employs a unique system of excavation, a sort of reverse engineering of the sequence of past events. This comes complete with intensive recording, sampling of soils and other processes designed to minimise the loss of information.

    In the case of hoards – deliberately buried caches of valuables from a time before banks and safes – this method of recovery can preserve information about the date of burial and whether the items were deposited in a single episode or over time. It can also help ascertain what organic materials were originally present and even provide insights into the meaning of the objects for those who deposited them.

    We saw this sort of process able to take place in 2014 after detectorists found the Galloway Hoard – more than 100 gold, silver, glass, crystal, stone and earthen objects from the Viking age. These amateurs contacted the relevant authorities before digging it up, which meant it was possible, through expert recovery, to reconstruct the precious textiles and other containers in which the objects were originally buried.

    Many countries, including Greece, strictly outlaw the use of metal detectors for treasure hunting, although many people continue to do so in secret. In the UK, the hope is that by legalising reporting and offering purchase of treasure, the finds can at least be preserved for research and for public viewing.

    However, there isn’t anything in this approach to stop the unscientific method of recovery, which will continue to rob us of much more that we might have known. This leaves the question of whether such finds should even be dug up at all.

    Archaeology is a relatively young discipline, but the surviving remains of the distant past are a finite resource. Land development, climate change, mechanised agriculture, population growth, war, looting and desecration are threats facing archaeological sites the world over.

    In recent years professional archaeologists have responded by excavating the bare minimum. We might dig ahead of construction works and large infrastructure projects such as HS2. Sometimes we excavate because a site is threatened by coastal erosion or other environmental changes. When we dig purely for the sake of research, or as part of a community project, we focus on partial recovery, prioritising survey, geophysics and “test-pitting” (a sort of archaeological keyhole surgery).

    In all cases we must also ensure that there is enough money to cover the conservation and protection of the things we dig up, and, crucially, publish the reports of their excavation, with all its insight into the context of the finds.


    Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

    Chloe Duckworth 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. Norman coin hoard becomes England’s most valuable treasure – it could have been worth a lot more – https://theconversation.com/norman-coin-hoard-becomes-englands-most-valuable-treasure-it-could-have-been-worth-a-lot-more-242359

    MIL OSI – Global Reports –

  • MIL-OSI Global: Medieval Women: In Their Own Words at the British Library is unmissable

    Source: The Conversation – UK – By Diane Watt, Professor of English, University of Surrey

    The British Library’s breathtaking new exhibition, Medieval Women: In Their Own Words, brings to life the experiences, stories and voices of women from the distant past.

    The show covers the period from 1100 to 1500, and a range of mainly western countries and cultures. Many of the women featured are from the elite ranks of society: queens, princesses, noblewomen and nuns.

    On first entering the gallery, visitors encounter a striking late 13th-century carved stone figure of Eleanor of Castile, who was queen of England from 1274 until her death in 1290. It’s one of a series of 12 memorials commissioned by her bereft husband, Edward I, to mark the sites where her body was temporarily set down on its funeral procession from Lincolnshire to Westminster.

    Also on display near the entrance are examples of the work of Hildegard of Bingen and Christine de Pizan. Hildegard was a German abbess, mystic, composer and scholar, and de Pizan was the first professional woman writer in France.

    Both were exceptional, highly educated and privileged women, but the exhibition doesn’t limit itself only to the most famous medieval women.

    These lovely illuminated manuscripts contrast with the next item, a much more mundane – if touching – missive from a woman named Alice Crane. Crane is only known to historians because she corresponded with her friend Margaret Paston during the 15th century. Paston was a Norfolk gentry woman and prolific letter writer. This is one of the few letters we have from the time that testifies to friendship between women. Alice writes: “Thanking you for the great cheer that I had of you when I was last with you with all my heart.”

    This first part of the exhibition is titled “Private Lives” and explores topics such as cosmetics and perfume and women’s medicines and healthcare. Visitors are introduced to women medical practitioners and wet-nurses and find out about education and domestic piety.

    There are displays about pregnancy and pregnancy loss, love and marriage, adultery and divorce and property ownership and inheritance. Margery Brews’s Valentine letter (believed to be the oldest example of a Valentine’s day note) and Gwerful Mechain’s poem in praise of the “cunt” are both displayed – and recited.

    One of the most striking items on display is a birthing girdle – a parchment covered in prayers and illustrations that was believed to have talismanic properties. Birthing girdles were intended to protect both mother and baby during labour.

    The public lives of medieval women

    Powerful women visually dominate the second part, “Public Lives”. It includes an arresting portrait of Henry VIII’s grandmother, Lady Margaret Beaufort, founder of two Cambridge University colleges, and the skull of a lion thought to have been owned by the Margaret of Anjou, leader of the Lancastrians in the Wars of the Roses.



    Read more:
    How Henry VIII’s grandmother used a palace in Northamptonshire to build the mighty Tudor dynasty

    Military conflict is an important theme – there is a book chronicling the history of Shajar al-Durr, Sultana of Egypt, who defeated a crusader army. Nevertheless, several documents provide insight into lives less known.

    There’s the chancery bill of Maria Moriana, whose name suggests she was a woman of colour. A record of a debt owed to the Jewish businesswoman Licoricia of Winchester who was subsequently murdered in what was very likely a hate crime is displayed. As is a Venetian contract for the sale of an enslaved Russian called Marta. And the record of the interrogation of Eleanor Rykener – a sex worker we would likely recognise today as a trans woman.

    Books produced or sold by women scribes, notaries, printers and booksellers lead the visitor into the main display of manuscripts of works by women writers, from Marie de France, a secular poet in the court of Henry II, to Juliana Berners, the probable author of a treatise on hunting, fishing and heraldry.

    “Spiritual Lives” introduces nuns, mystics and heretics. There are records relating to Joan of Arc, the peasant French military leader of the hundred years war, who was captured and executed by the English. A letter bearing Joan’s signature is exhibited for the first time outside her mother country (in the land of her persecutors, to boot).

    Here visitors also encounter the manuscripts of The Revelations of Divine Love by Julian of Norwich and The Book of Margery Kempe. These are two of the earliest works by women to have been written in English and have been brought to life by the artist Tasha Marks in an arresting scent installation. Julian’s satanic torments are conjured up by the stink of sulphur. Kempe’s scent of angels is evoked by notes of honey, strawberry and caramel.

    The curators have done an extraordinary job in making this material accessible to a wide audience. Information panels provide context and correctives. They reveal that the gender pay gap was around 25% at the end of the 15th century, and that only around 1% of women became nuns.

    There are interactive displays that can tell you if you would have grounds for medieval divorce, or if you’d have been vulnerable to witchcraft charges (warning: don’t keep a box of stolen penises).

    The exhibition draws attention to the sheer diversity of the lives and experiences of medieval women in England and beyond, from the quotidian to the sublime. Providing abundant evidence of their learning and scholarship, skills and ingenuity and creativity and artistry, it is, quite simply, unmissable.

    Medieval Women: In Their Own Words is at the British Museum from October 25 2024 to March 5 2025.


    Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

    Diane Watt has received funding from the AHRC, British Academy and Leverhulme Trust.

    – ref. Medieval Women: In Their Own Words at the British Library is unmissable – https://theconversation.com/medieval-women-in-their-own-words-at-the-british-library-is-unmissable-242258

    MIL OSI – Global Reports –

  • MIL-OSI Global: Dahomey: timely repatriation documentary gives a literal voice to Benin’s stolen objects

    Source: The Conversation – UK – By Njabulo Chipangura, Anthropologist and Curator of Living Cultures at Manchester Museum, University of Manchester

    Dahomey, a new documentary film from the award-winning French director Mati Diop, follows the unconditional restitution process of 26 cultural heritage objects in 2021. The items were looted by French troops during an invasion and subsequent colonial occupation of the kingdom of Dahomey, now the present-day Republic of Benin, in November 1892.

    Prior to its return, the collection was kept in the basement at Quai Branly Museum in Paris. Stored under lock and key, they existed as static and lifeless anthropological objects, that only served as war “trophies” and representations of the cultures of the vanquished and colonised. They had once been exhibited under the classification of “devil, idol, fetish, kaffir, charm, evil spirit and amulet” objects.

    Dahomey is timely. It comes as debates rage on the urgent necessity of repatriating the African cultural heritage objects that were appropriated by French, British, Germans, Portuguese, Spanish and Belgian forces during 18th and 19th century colonial conquest and expansion projects.

    In her film, Diop has managed to restore the agency of the objects at the heart of the Dahomey restitution case by transforming them into living cultures. She gives a literal voice, for example, to object number 26 – a human-sized wooden statue that is an allegorical portrait of King Ghezo, depicting him as half bird, half man. The real King Ghezo ruled Dahomey from 1818 until 1958. In the documentary, the statue recounts his “loss of life” when he was dislocated from his place of birth by French troops in 1892.



    Read more:
    Why stolen objects being returned to Africa don’t belong just in museums – podcast

    The trailer for Dahomey.

    Just as King Ghezo was depicted as his symbol – half man, half-bird – two other royal statues that feature prominently in the documentary are also kings of Dahomey sculpted as their symbols: King Béhanzin who ruled from 1890 to 1894 is a shark-man and King Glele who ruled from 1858 until 1889 is a lion-man. Each of these kings reigned over Dahomey and resided at Abomey, which was the kingdom’s capital.

    I see the choice to give voice to these objects as a call for museums to rehumanise collections that were acquired as a result of colonial violence. This would mean taking a proactive approach to acknowledge how both objects and ancestors from the colonised country were dehumanised by different colonial collecting practices, from looting to grave robbing.

    King Ghezo’s journey

    Dahmoey follows the statue of King Ghezo as he journeys back home from France’s Jacques Chirac Museum of Branly Quay to the Republic of Benin. He wonders what his new life will be like in the country he was ripped from 129 years ago.

    Upon the collection’s arrival in Benin, there was pomp and jubilation in the modern capital city of Cotonou, but the critical question remained – who now owns this heritage? Is it the state, the community or direct descendants of King Ghezo?

    The staging of the return was well-choreographed, and its politicisation clearly visible. The 26 objects lay in state, heavily guarded and protected as national heroes. However, in Diop’s film, King Ghezo reflects that he felt like a foreigner, far removed and detached from the country he imagined when he was still an ethnographic museum object in Paris.

    This crisis of belonging and identity can be interpreted as a consequence of how African museums were established during the colonial period. Their history mirrored the colonial practices of ordering, categorisation and classification of objects of the western museums where King Ghezo was imprisoned for more than a century. African museums are by products of colonisation and are, in many ways, still exclusionary and elitist.

    Therefore, placing King Ghezo in a museum in Benin can end up reinforcing ideals similar to colonial classifications. Instead, King Ghezo needs to have his life restored by giving agency to community ways of doing and knowing, and to the heritage management systems established in Benin long before colonisation.

    Repatriation debates

    The film also shows students at the University of Abomey-Calavi in the south of Benin debating the repatriation. Many express dissatisfaction in view of the fact that only 26 objects were returned out of the 7,000 which were looted by the French at Abomey in 1892.

    Many students dismiss the return as a non-event, without any historical significance. They see it, instead, as a charade for political mileage by the president of the Republic of Benin, Patrice Talon. Listening to the students made me reflect on the political nature of restitution, and how most European museums still hold power and authority in setting the conditions for or against returning.

    These 26 objects were returned to Benin unconditionally, meaning France no longer has any claims to ownership. In conditional repatriation, however, European museums decide which objects should be given back to their countries of origin, and in most cases within the premises of short to long-term loans

    For example, in June 2024, the Cambridge University Museum of Archaeology and Anthropology conditionally returned 39 objects to Uganda on three-year negotiated loan deal. Ownership of these objects is still in the hands of Cambridge University. On the contrary Manchester Museum, where I work, unconditionally returned 174 objects to the Anindilyakwa people of Groote Eylandt in northern Australia in September 2023.

    As a practical decolonial strategy, unconditional repatriation means that museums must not prescribe conditions of caring for cultural heritage objects to communities of origin upon their return. This is part of the process of giving communities agency to use their own heritage objects in ways that they deem necessary.

    The 26 objects at the heart of Dahomey were not made to be imprisoned in museum storage. They still have potency and can be viewed by communities as living beings which they can use, touch, smell and taste. Although these “objects” may appear stagnant within ethnographic classifications in museums, they have individual biographies and carry with them important meanings connected to their ritual and cultural functions located in societies of origin.

    One student succinctly captures this sentiment in the film by recounting how she cried for 15 minutes on seeing the returned sculpture of King Ghezo, who she considered her ancestor. In the end, the restitution of cultural heritage objects by European museums back to Africa must not regarded as loss but rather as a means towards building practical relationships of care with their communities of origin.


    Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

    Njabulo Chipangura 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. Dahomey: timely repatriation documentary gives a literal voice to Benin’s stolen objects – https://theconversation.com/dahomey-timely-repatriation-documentary-gives-a-literal-voice-to-benins-stolen-objects-242324

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Government appoints Judicial Member for the Senior Salaries Review Body

    Source: United Kingdom – Executive Government & Departments

    Appointment of Mark Emerton as Judicial Member for the Senior Salaries Review Body.

    The Government has appointed Mark Emerton as the Judicial Member for the Senior Salaries Review Body.

    This role is responsible for supporting the delivery of the annual reporting cycle for the remit of the Judiciary and the Major Judicial Review. Mark Emerton will work with the Senior Salaries Review Body, which provides independent advice to the Prime Minister and senior ministers on the pay of many of the nation’s top public servants. 

    The SSRB’s remit covers senior civil servants, the judiciary, the senior military, certain senior managers in the NHS, Police and Crime Commissioners and chief police officers.

    Mark is a retired employment judge and former member of the Judicial College Board. He is an experienced judicial trainer, and has previously served as Chair of Havant Judicial Standing Committee and as a Diversity and Community Relations Judge.

    The appointment process for this role was in full accordance with the Commissioner for Public Appointments’ Code of Practice.

    Mark will start his role in October. He takes over from Sharon Witherspoon, a former judicial member, who in April 2024 was appointed interim judicial member to the SSRB for a period of six months.

    Updates to this page

    Published 29 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Weather doesn’t dampen the spirits of Foster Portsmouth Great South Run team

    Source: City of Portsmouth

    Three children in our care, three of our foster carers and two of their birth children completed the three races on Saturday which did dawn bright and clear.

    Wearing branded running vests, they hoped to raise awareness of Foster Portsmouth and the need for more foster carers from diverse backgrounds to provide a safe home for the vulnerable children and young people in Portsmouth.

    Foster carer Emma shared:

    “I really enjoyed the run. Unlike Sunday, Saturday had perfect conditions, sunny but not too warm and no wind. I managed the race nice and slow and steady, and ended by finishing faster than my goal. I really enjoyed the atmosphere and supporters. Two birth children and two of our foster children gave me ‘power-up’ high fives and shouted how proud of me they are. My youngest wore the medal for the rest of the morning.”

    Emma’s son and two of the children in her care also took part in the junior and mini races,

    “They did so well! Our 10 year old started strong and went off fast with some of the biggest kids. He had slowed down a bit, but then when he heard and saw us on Avenue de Caen, he began to sprint and sprinted right to the end. It was his second time running the junior Great South Run and he managed to come 25th!”

    “Our seven year old boys, one fostered and one birth child, did the mini run with my husband, Chris, assisting them. They set off together and both worked hard and ran the whole course. They were both so pleased and proud of themselves at the finish line. The boys loved the encouragement and high fives, and especially loved the goodie bags, finishers t-shirts and medals!”

    “We sat in a play park and shared fish and chips for lunch afterwards, which was the perfect end to a busy morning!”

    Unfortunately the remaining 15 foster carers and council staff in the Foster Portsmouth team were unable to take part this year in the 10-mile race on Sunday 20 October due to the weather.  However, they are determined to take on the challenge again for us in 2025.

    Cllr Suzy Horton, Deputy Leader and Cabinet Member for Children, Families and Education at Portsmouth City Council, commented:

    “Despite the weather cutting the weekend short, we’re really pleased that three of the children in our care could once again join our team for this year’s Great South Run’s other races. It made the day extra special to see them enjoy taking part and achieving something new.”

    “With the team of eight taking on the challenge of the first three races in our running vests, we were still able to once again successfully shine a light on the pressing need for new foster homes in the city and the surrounding area.”

    “I was pleased to start the 5km race on the day, seeing off these foster families and many of Portsmouth’s and other local residents about to take in the sights of our great city.”

    “Everyone at Foster Portsmouth would like to express their thanks to every member of the team, whether they were able to take part in the end or not.  We hope the Saturday team of eight have enjoyed a well-earned break since.”

    Foster carers receive a competitive financial package, local round the clock support and ongoing quality training including through our mentoring scheme and our innovative award-winning Mockingbird programme which provides a support network of other foster carers similar to that of an extended family.

    The 5km race was also completed by foster carer Tania shared that the young person in her care who also completed the junior race on behalf of Foster Portsmouth:

    “She really enjoyed it – ran the whole way! I’m so proud of her!”

    Foster carer Rob, who ran the 5km with daughter Laura, reported:

    “Luckily the 5k was still on. The weather was actually really nice with sunshine and a little breeze to keep us cool. Lauren and I proudly wore our Foster Portsmouth vests, and plenty of people commented and shouted our names as we ran by.”

    “I’m super proud of Lauren running with me after having her baby daughter Rosie just 12 weeks ago! Rosie came to support us but was asleep from start to finish!”

    “We really enjoyed our run and saw quite a few familiar faces including a couple of children who have spent respite care with me.”

    The council welcomes all enquiries about fostering. Portsmouth City Council’s foster carers all share the same commitment and motivation to make a positive difference to a child’s life. This could be a short or long-term arrangement for a child, young person or siblings until they’re ready to live independently or be reunited with family, support for children seeking asylum or children with a disability, supported lodgings to develop their independent living skills, a parent and baby placement, or respite care.

    Foster Portsmouth needs more foster carers from diverse backgrounds to reflect the children and young people we look after in our city. Anyone aged 21 or over with a spare bedroom could foster with Foster Portsmouth regardless of their age, gender, faith, ethnicity, sexuality, marital or work status, or whether they rent or own their own home. 

    For more information on fostering with Foster Portsmouth, contact the Fostering SouthEast recruitment team on 0300 131 2797, visit www.foster.portsmouth.gov.uk or email info@lafosteringse.org.uk

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Pay boost for millions of workers next year

    Source: United Kingdom – Executive Government & Departments

    Chancellor announces pay rise for over 3 million workers next year, as National Living Wage rises by 6.7%.

    • Chancellor announces pay rise for over 3 million workers next year, as National Living Wage rises by 6.7%
    • Pay boost worth £1,400 a year for an eligible full-time worker – a significant move towards delivering a genuine living wage.
    • 18-20 National Minimum Wage will rise by £1.40 per hour – the largest increase on record – and marks first step towards a single adult rate.

    Over 3 million workers will receive a pay boost after the Chancellor confirmed the National Living Wage will increase from £11.44 to £12.21 an hour from April 2025.  

    The 6.7% increase – which is worth £1,400 a year for an eligible full-time worker – is a significant step towards delivering the manifesto commitment to make sure the minimum wage is a genuine living wage.  

    The National Minimum Wage for 18 to 20-year-olds will also rise from £8.60 to £10.00 an hour – the largest increase in the rate on record. This £1.40 increase will mean full-time younger workers eligible for the rate will see their pay boosted by £2,500 next year. This marks the first step towards aligning the National Minimum Wage and National Living Wage to create a single adult wage rate, which would take place over time. 

    The move comes ahead of the Budget tomorrow which will fix the foundations to deliver change by fixing the NHS and rebuilding Britain, while ensuring working people don’t face higher taxes in their payslips. 

    It builds on the commitment to be a pro-business, pro-worker, pro-growth Government. It delivers a key plank of the Plan to Make Work Pay, which is already set to boost the pockets of the lowest paid workers by up to £600 a year through the Employment Rights Bill.  

    The plan will boost productivity, creating a workforce that is fit and ready to help us deliver our first mission to kickstart economic growth – with good jobs and growth in every part of the country making everyone, not just a few, better off.

    Chancellor of the Exchequer Rachel Reeves said:

    This Government promised a genuine living wage for working people. This pay boost for millions of workers is a significant step towards delivering on that promise.

    Business Secretary Jonathan Reynolds said:

    Good work and fair wages are in the interest of British business as much as British workers.

    This government is changing people’s lives for the better because we know that investing in the workforce leads to better productivity, better resilience and ultimately a stronger economy primed for growth.

    Deputy Prime Minister Angela Rayner said:

    A proper day’s work deserves a proper day’s pay.

    Our changes will see a pay boost that will help millions of lower earners to cover the essentials as well as providing the biggest increase for 18–20-year-olds on record.

    The minimum hourly wage for an apprentice is also boosted next year, with an 18-year-old apprentice in an industry like construction seeing their minimum hourly pay increase by 18.0%, a pay bump from £6.40 to £7.55 an hour.     

    These increases will mean 3.5 million workers will receive a pay rise this year in total. They confirm the Low Pay Commission’s recommendations, whose advisory remit was overhauled by ministers in July to consider the cost of living.

    Hilary Jones, Ethics Director at Lush Cosmetics said:

    Lush staff making and selling our  products are crucial to our success, so we commit to the Living Wage Foundation’s independently calculated real living wage rates each year to feel confident our rates of pay are fair and that our staff can afford what they need to thrive, not just survive.  In these tough times where the cost of living continues to rise, it is great to see the Government increase minimum wage closer to these calculations to support the hardest working and most vulnerable workers across the UK.

    Baroness Philippa Stroud, Chair of the Low Pay Commission, said:

    The Government have been clear about their ambitions for the National Minimum Wage and its importance in supporting workers’ living standards. At the same time, employers have had to deal with the adult rate rising over 20 per cent in two years, and the challenges that has created alongside other pressures to their cost base.

    It is our job to balance these considerations, ensuring the NLW provides a fair wage for the lowest-paid workers while taking account of economic factors. These rates secure a real-terms pay increase for the lowest-paid workers. Young workers will see substantial increases in their pay floor, making up some of the ground lost against the adult rate over time.

    Updates to this page

    Published 29 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Sobyanin: Moscow team wins national championship “Abilympics”

    Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Moscow team became the winner of the national championship “Abilympics”. This was reported in his telegram channel Sergei Sobyanin reported.

    “The professional skills competition among people with disabilities and limited health capabilities took place from October 26 to 29 at Gostiny Dvor and at seven additional sites in the city. The program included 50 competencies. The capital was represented by more than 160 professionals,” the Moscow Mayor wrote.

    Source: Sergei Sobyanin’s Telegram channel @mos_sobyanin

    The Moscow team came in first in the overall medal count, with 57 gold, 36 silver and 24 bronze medals.

    In particular, student Valeria Nikitina won in the “Electrical Installation” nomination, student Dmitry Kolesov – in the “Make-up” competency. Schoolgirl Anna Safronova took first place in the “Welding Technologies” nomination, and 61-year-old Muscovite Valery Potnyaev – in the “Industrial Robotics” competency.

    Sergei Sobyanin congratulated the participants on their excellent results.

    The Abilympics movement has been developing in Russia since 2015. During this time, about eight thousand Muscovites took part in the competitions. All of them received the opportunity for professional development and successfully found employment.

    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.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://vvv.mos.ru/major/themes/11968050/

    MIL OSI Russia News –

  • MIL-OSI Russia: Dmitry Chernyshenko awarded employers participating in the Abilympics championship

    Translation. Region: Russian Federation –

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

    Dmitry Chernyshenko awarded employers participating in the Abilympics championship

    October 29, 2024

    Dmitry Chernyshenko awarded employers participating in the Abilympics championship

    October 29, 2024

    Dmitry Chernyshenko awarded employers participating in the Abilympics championship

    October 29, 2024

    Dmitry Chernyshenko awarded employers participating in the Abilympics championship

    October 29, 2024

    Dmitry Chernyshenko awarded employers participating in the Abilympics championship

    October 29, 2024

    Previous news Next news

    Dmitry Chernyshenko awarded employers participating in the Abilympics championship

    The National Championship of Professional Skills among the Disabled and People with Limited Health Abilities “Abilympics” has ended in Moscow. 450 winners were awarded certificates for additional professional education and the purchase of technical rehabilitation equipment. Deputy Prime Minister Dmitry Chernyshenko congratulated the winners of the championship.

    “It was a truly great success. Over the past 10 years, we have come a long way and have become convinced that the order of President Vladimir Putin to realize the capabilities and talents of each person in our country does not encounter any barriers. Every year, the championship is becoming more and more popular – it has already covered 120 thousand participants from all regions of Russia. And this is, of course, the merit of our regions,” the Deputy Prime Minister emphasized.

    Dmitry Chernyshenko also noted that Abilympics faces important challenges.

    “The kids need support, it is important for them to see role models in front of them who give them hope and confirm that every person in our country is in demand and can be useful to the Motherland, themselves and their families,” said the Deputy Prime Minister.

    The Deputy Prime Minister recalled that more than 2.5 thousand enterprises joined the Abilympics championship, creating jobs and conditions for young specialists. He emphasized that 93% of participants are already employed, which is a very good indicator.

    Dmitry Chernyshenko presented letters of gratitude from the Russian Government Office to employers who employ the largest number of participants in the Abilympics championships and provide internships in the constituent entities of the Russian Federation. Thus, the Izhevsk Mechanical Plant, the United Engine Corporation, the Bank of Russia, Mobile TeleSystems and Ozon Holding were noted.

    The Deputy Prime Minister also presented awards to the regions that demonstrated the best results in employing participants in the Abilympics championships and involving people with disabilities and people with limited health capabilities in the movement’s events. Among them are Moscow, the Republic of Tatarstan, Krasnoyarsk Krai, Ulyanovsk and Rostov Regions. The Republic of North Ossetia-Alania received an award for high indicators of the Abilympics movement development based on the results of 2023 and 2024.

    On behalf of the regions, the awards were accepted by the Governor of Krasnoyarsk Krai Mikhail Kotyukov, the Minister of the Moscow Government, the Head of the Department of Labor and Social Protection of the Population of the City of Moscow Evgeny Struzhak, the Minister of Education and Science of the Republic of Tatarstan Ilsur Khadiullin and others.

    Head of the Russian Presidential Administration for Public Projects Sergei Novikov emphasized that over ten seasons, the participants of the Abilympics championship have become a big family, they are constantly in touch and support each other. He added that thanks to the movement, people with disabilities motivate each other to develop in their chosen specialty, compete successfully and show excellent results.

    Sergey Novikov presented awards to representatives of the countries that won the overall team standings of the competitions with friendly countries. The first place was taken by the national team of the Russian Federation. The award for second place was received by the national team of the Republic of Belarus. Third place went to the Republic of Abkhazia.

    First Deputy Minister of Education of Russia Alexander Bugaev expressed gratitude to everyone who created the Abilympics movement in all regions of Russia over the course of ten years.

    “I would like to thank the huge army of participants in the movement over all these years – 120 thousand people. You can come to any region of our country and find your comrade, like-minded person. I am sure that each of those who participate in the tenth season of the Abilympics championship is already a winner. We must name the winners, but the best is everyone who is present in this hall today. Thank you for this, and always remain as wonderful,” said Alexander Bugayev.

    In the overall team standings of the Abilympics championship, the Moscow team took first place. The Republic of Tatarstan team took second place. The St. Petersburg team came in third.

    The 2024 National Abilympics Championship was held from October 26 to 29, 2024, at the Gostiny Dvor Exhibition Center, as well as at six additional venues of professional educational organizations in Moscow and the Diana Gurtskaya Social Integration Center. The contestants were 869 people from 73 constituent entities of the Russian Federation, including 290 schoolchildren, 276 students, and 303 specialists. The judging was carried out by 276 experts from 52 constituent entities of the Russian Federation.

    The championship’s competition program included 50 competencies in the fields of education, IT technologies, decorative and applied arts, creative industries, industry, public catering, services, economics and management, construction, and medical professions.

    Representatives of foreign countries competed in 12 main and 1 presentation competencies. Participants from Azerbaijan, Abkhazia, Belarus, Zimbabwe and Qatar demonstrated their skills in person. Contestants from Armenia, Nicaragua and China took part in the competition remotely.

    For participants with severe and multiple developmental disabilities, including intellectual disabilities, a Festival of Opportunities was held. It included competitions in 11 competencies. The Festival of Introduction to the Profession brought together 50 preschool and primary school children with disabilities aged 6 years and older. They competed in 10 competencies.

    The project operator is the National Center “Abilympics” of the Institute for the Development of Professional Education of the Ministry of Education of the Russian Federation.

    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 Economics: Tenth Annual Richard Goode Lecture: International Lending in War and Peace

    Source: International Monetary Fund

    The International Monetary Fund will hold its tenth annual Richard Goode Lecture on November 5, 2024. The Richard Goode Lecture is an annual event hosted by the Fiscal Affairs Department for top academics to present their cutting-edge research on topical policy issues before a broad audience of policymakers, thinktanks, and staff of international organizations.

    The theme of this year’s seminar is “International Lending in War and Peace” presented by Professor Christoph Trebesch. The lecture will present some key trends in international capital flows across 200 years, focusing on turbulent episodes during war and peace. It will illustrate the crucial role of official finance in helping avert military defeat or financial collapse.

    Professor Trebesch is a professor at the Kiel Institute for the World Economy and the University of Kiel. His research focuses on international finance and macroeconomics as well as political economy and geopolitics. His research has been published in leading economic journals such as the American Economic Review, the Quarterly Journal of Economics, and the Journal of Political Economy and is regularly cited in international media, including The New York Times, the Financial Times, and the Wall Street Journal. He directs the CEPR Policy Network on “International Lending and Sovereign Debt” and co-directs the CEPR Network on “Geoeconomics,” for which he organizes an annual high-level conference on geopolitics and economics. He is also the creator of the widely referenced “Ukraine Support Tracker” on military and financial aid flows to Ukraine. In 2023, he was awarded an ERC Consolidator Grant, one of the most prestigious research recognitions in Europe.

    *Light refreshments will be served.

    Questions for the speaker can be sent before the event to FADRG@imf.org

    Agenda

    10:02 AM – 10:05 AM Welcoming remarks by Vitor Gaspar, Director, Fiscal Affairs Department
    10:05 AM – 10:50 AM Presentation by Professor Christoph Trebesch
    10:50 AM – 11:05 AM Conversation between Vitor Gaspar and Christoph Trebesch
    11:05 AM – 11:25 AM Audience Q&A

    MIL OSI Economics –

  • MIL-OSI USA: Georgia Farmers, Ranch Hands May be Eligible for FEMA Assistance

    Source: US Federal Emergency Management Agency 2

    Georgia Farmers, Ranch Hands May be Eligible for FEMA Assistance

    ATLANTA – Georgia farmers and ranch hands whose tools or equipment were damaged by Hurricane Helene or Tropical Storm Debby, damage Aug. 4–20, 2024, may be eligible for disaster assistance. FEMA assistance is available to replace disaster-damaged essential tools, supplies, equipment and items required for employment or for self-employment.Coverage for Tools and EquipmentFamily-owned farms typically have a variety of equipment needed to conduct business. These include, but are not limited to, tractors, plows, seeders or planters, harvesters, sprayers, hay balers and utility vehicles. These items are all potentially eligible for FEMA disaster assistance if the applicant can show that they were damaged by the disaster, the applicant does not have another working item that can meet this need, and the loss of the item was not covered by insurance. Crops and livestock are not “tools and equipment” because they are the products of a farming operation, whereas tools and equipment are the means of production.Ranch hands may be eligible for assistance to replace disaster-damaged tools and equipment not covered by insurance when they can show these items are required by their employer.Assistance is based on a need to replace disaster-damaged essential tools, supplies, equipment, items required by an employer as a condition of employment or required for education. This includes disaster-damaged tools and equipment, or other items required for a specific trade or profession that are not provided or supplied by the employer, including a computer.Many of these items have substantial costs, but it is important to remember that assistance for uninsured or underinsured occupational tools is limited to the maximum amount of Other Needs Assistance an applicant may receive. Additional assistance to help meet these needs may also be available from the U.S. Small Business Administration and the U.S. Department of Agriculture.The U.S. Department of Agriculture’s Farm Service Agency offers Livestock Assistance, Farm Loans and help for farmland damage and crop losses. Visit Disaster Assistance Programs (usda.gov) to learn more.How To Apply for FEMA Individual AssistanceVisit a FEMA Disaster Recovery Center. To find your nearest Disaster Recovery Center, visit fema.gov/drc.Call FEMA at 800-621-3362. Multilingual operators are available. If you use a relay service, such as video relay service (VRS), captioned telephone service or others, give FEMA your number for that service.Apply at DisasterAssistance.gov.Download and use the FEMA app.FEMA programs are accessible to people with disabilities and others with access and functional needs.To view an accessible video on how to apply, visit Three Ways to Apply for FEMA Disaster Assistance – YouTube.Homeowners, renters, businesses, and nonprofit organizations can apply for long-term, low-interest disaster loans from the U.S. Small Business Administration (SBA) to cover losses not fully compensated by insurance and other sources. Apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at sba.gov/disaster.For the latest information about Georgia’s recovery, visit fema.gov/helene/georgia and fema.gov/disaster/4821. Follow FEMA on X at x.com/femaregion4 or follow FEMA on social media at: FEMA Blog on fema.gov, @FEMA or @FEMAEspanol on X, FEMA or FEMA Espanol on Facebook, @FEMA on Instagram, and via FEMA YouTube channel. Also, follow Administrator Deanne Criswell on Twitter @FEMA_Deanne.
    larissa.hale
    Tue, 10/29/2024 – 17:38

    MIL OSI USA News –

  • MIL-OSI Europe: Press statement from a meeting in the cooperation format between the Nordic Ministers for Foreign Affairs

    Source: Government of Sweden

    Press statement from a meeting in the cooperation format between the Nordic Ministers for Foreign Affairs – Government.se

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    Press release from Ministry for Foreign Affairs

    Published

    Today, October 29, at a meeting in the cooperation format between the Nordic Ministers for Foreign Affairs (N5) there was an exchange of views with Sviatlana Tsikhanouskaya, leader of the Belarusian democratic forces in exile, on the situation in Belarus and on how best to support the Belarusian democratic movement.

    – As the human rights situation in Belarus continues to deteriorate, the Nordic countries stand behind the Belarusian people’s quest for a free, democratic, sovereign, and independent Belarus. The Nordic countries are committed to further strengthening our dialogue with the democratic forces in exile, says Sweden’s Minister for Foreign Affairs and Coordinator of the N5 cooperation format, Maria Malmer Stenergard. 

    The Nordic countries are pleased to announce that to enhance the cooperation on issues related to Belarus, going forward all Nordic countries will have a focal point for contacts with the Belarusian democratic forces in exile.

    The Nordic countries have a long history of support for a democratic Belarus. The deteriorating human rights situation in Belarus is alarming, with continuing persecution and intimidation campaigns against all segments of society.  The Nordic countries support the establishment of the International Humanitarian Fund for Victims of Repression in Belarus. As of today, the announced and intended Nordic contribution to the fund totals 2 million euro. In 2024, the Nordic Council has also increased its support to independent Belarusian media actors. 

    Press contact

    MIL OSI Europe News –

  • MIL-OSI USA: Statement from President Joe  Biden on Democratic Backsliding in the Country of  Georgia

    US Senate News:

    Source: The White House
    The United States has long stood with the Georgian people and supported the country of Georgia’s sovereignty, territorial integrity, and Euro-Atlantic aspirations. That is why I have been deeply alarmed by the country’s recent democratic backsliding, including the enactment of legislation mirroring Russian laws that restrict fundamental freedoms and limit the space for independent civil society organizations. Most recently, Georgia’s October 26 parliamentary elections were marred by numerous recorded misuses of administrative resources as well as voter intimidation and coercion. Georgian citizens have a right to peacefully express their views regarding the conduct of these elections, which independent international and domestic observers have not said were free and fair. We call on the Georgian government to transparently investigate all election irregularities, to repeal laws such as the so-called “Foreign Influence Law” that limit freedoms of assembly and expression, and to begin an immediate, inclusive dialogue with all political forces in Georgia about restoring election integrity. We call for all parties to strictly respect the rule of law and fundamental freedoms, which remain the foundation for Georgia’s Euro-Atlantic future. 

    MIL OSI USA News –

  • MIL-OSI Russia: Financial news: 10/29/2024, 10:46 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A101780 (RSEKSMB2R1) were changed.

    Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    10/29/2024

    10:46

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC) on 10/29/2024, 10:46 (Moscow time), the values of the upper limit of the price corridor (up to 97.63) and the range of market risk assessment (up to 1089.92 rubles, equivalent to a rate of 15.0%) of the security RU000A101780 (RSEKSMB2R1) were changed.

    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.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://www.moex.com/n74377

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 10/29/2024, 10-11 the values of the lower limit of the repo price corridor, the carry rate and the range of interest rate risk assessment for the UGLD security were changed.

    Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    10/29/2024

    10:11

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 10/29/2024, 10-11 (Moscow time), the values of the lower limit of the repo price corridor with settlement code Y0/Y1Dt (up to -23.96%), the transfer rate and the range of interest rate risk assessment (up to -0.00049 rubles, equivalent to a rate of 48.82%) of the UGLD security were changed.

    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.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://www.moex.com/n74371

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 10/29/2024, 10:20 AM (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the RU000A0JVD25 security (RusHydro09) were changed.

    Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    10/29/2024

    10:20

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 10/29/2024, 10:20 (Moscow time), the values of the upper limit of the price corridor (up to 95.31) and the range of market risk assessment (up to 979.65 rubles, equivalent to a rate of 7.5%) of the security RU000A0JVD25 (RusHydro09) were changed.

    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.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://www.moex.com/n74373

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 10/29/2024 Moscow Regional Guarantee Fund deposit auction to be held

    Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    Parameters;

    The date of the deposit auction is 10/29/2024. The placement currency is RUB. The maximum amount of funds placed (in the placement currency) is 1,993,000,000.00. The placement period, days is 56. The date of depositing funds is 10/29/2024. The date of return of funds is 12/24/2024. The minimum placement interest rate, % per annum is 22.50. Terms of the conclusion, urgent or special (Urgent). The minimum amount of funds placed for one application (in the placement currency) is 100,000,000.00. The maximum number of applications from one Participant, pcs. 1. Auction form, open or closed (Open). The basis of the Agreement is the General Agreement. Schedule (Moscow time). Applications in preliminary mode from 12:30 to 12:50. Applications in competition mode from 12:50 to 13:00. Setting the cut-off percentage rate or declaring the auction invalid until 13:20.

    Additional conditionsInterest payment at the end of the term

    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.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://www.moex.com/n74375

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: On October 29, 2024, a deposit auction of UK FRT LLC will take place

    Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    Parameters;

    The date of the deposit auction is 10/29/2024. The placement currency is RUB. The maximum amount of funds placed (in the placement currency) is 415,000,000.00. The placement period, days is 15. The date of depositing funds is 10/29/2024. The date of return of funds is 11/13/2024. The minimum placement interest rate, % per annum is 21.00. Terms of the conclusion, urgent or special (Urgent). The minimum amount of funds placed for one application (in the placement currency) is 415,000,000.00. The maximum number of applications from one Participant, pcs. 1. Auction form, open or closed (Open). The basis of the Agreement is the General Agreement. Schedule (Moscow time). Applications in preliminary mode from 12:30 to 12:40. Applications in competition mode from 12:40 to 12:45. Setting the cut-off percentage or declaring the auction invalid before 12:55.

    Additional terms

    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.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://www.moex.com/n74376

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 10/29/2024, 11:41 (Moscow time) the values of the lower boundary of the price corridor and the range of market risk assessment for the RU000A100YQ0 (Rosnft2P9) security were changed.

    Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    10/29/2024

    11:41

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 10/29/2024, 11:41 AM (Moscow time), the values of the lower limit of the price corridor (up to 77.75) and the range of market risk assessment (up to 742.85 rubles, equivalent to a rate of 11.25%) of the RU000A100YQ0 (Rosnft2P9) security were changed.

    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.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://www.moex.com/n74379

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 10/29/2024, 12:07 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A105666 (Sber Sb40R) were changed.

    Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    10/29/2024

    12:07

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 10/29/2024, 12:07 (Moscow time), the values of the upper limit of the price corridor (up to 106.2) and the range of market risk assessment (up to 1143.22 rubles, equivalent to a rate of 9.38%) of the security RU000A105666 (Sber Sb40R) were changed.

    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.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://www.moex.com/n74383

    MIL OSI Russia News –

  • MIL-OSI USA: Higgins Calls for Redirecting Ukraine War Funding to Disaster Relief for Americans

    Source: United States House of Representatives – Congressman Clay Higgins (R-LA)

    WASHINGTON, D.C. – Congressman Clay Higgins (R-LA) introduced legislation that would redirect unobligated dollars from the Economic Support Fund, a part of the April 2024 Ukraine supplemental funding package, to FEMA’s Disaster Relief Fund and offer critical recovery help for Americans impacted by natural disasters.

    In April 2024, the Economic Support Fund was appropriated for an additional $8 billion for budget support. According to the Government Accountability Office (GAO), most of this funding was used to reimburse the Government of Ukraine for expenses such as salaries for teachers, civil servants, and health care workers.”

    “I work for the American citizenry, not Ukraine,” said Congressman Higgins. “The federal government has appropriated more than $174 billion to Ukraine while American citizens are struggling. Our nation is crippled with debt, and yet the Biden-Harris administration continues to prioritize spending for foreign interests. My legislation ensures that we are meeting disaster recovery needs and putting America and American citizens first.”

    Read the full legislation here.

    MIL OSI USA News –

  • MIL-OSI Security: Bridgeport Man Sentenced to 42 Months in Federal Prison for Trafficking Guns from Georgia to Connecticut

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    Vanessa Roberts Avery, United States Attorney for the District of Connecticut, announced that TYREE THOMAS, 39, of Bridgeport, was sentenced today by U.S. District Judge Victor A. Bolden in New Haven to 42 months of imprisonment, followed by three years of supervised release, for trafficking firearms from Georgia to Connecticut.

    According to court documents and statements made in court, Thomas’ criminal history includes felony convictions and he is prohibited from purchasing firearms.  Between approximately August and December 2021, Thomas traveled to Georgia multiple times where, using a family member as a straw purchaser, he acquired approximately 24 firearms.   He then transported the firearms to Connecticut where he sold or transferred them to others, including felons, gang members, and juveniles.

    Nine of the firearms that Thomas acquired in Georgia have been recovered by law enforcement in Connecticut, including three that were seized during traffic stops, one of which was possessed by a juvenile; one that was found in the possession of felon who was subsequently federally prosecuted for the offense; one that was used in a Bridgeport shooting incident in August 2022, that resulted in the death of one of victim and injury to two others; one that was recovered from a Bridgeport murder suspect who used it to commit suicide during a standoff with law enforcement in Tennessee in June 2022; and one that was recovered from a homicide victim in Meriden in March 2023.  Fifteen of the guns have not been located.

    Thomas was arrested on September 6, 2023.  On June 17, 2024, he pleaded guilty to crossing state lines with the intent to engage in the unlawful dealing of firearms.

    Thomas, who is released on a $100,000 bond, is required to report to prison on January 7.

    This matter was investigated by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), and the Bridgeport Police Department.  The case was prosecuted by Assistant U.S. Attorneys Lauren Clark and Rahul Kale. through Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce gun violence and other violent crime, and to make our neighborhoods safer for everyone.  In May 2021, the Justice Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.  For more information about Project Safe Neighborhoods, please visit www.justice.gov/PSN.

    MIL Security OSI –

  • MIL-Evening Report: Gender is playing a crucial role in this US election – and it’s not just about Kamala Harris

    Source: The Conversation (Au and NZ) – By Carol Johnson, Emerita Professor, Department of Politics and International Relations, University of Adelaide

    Having a female presidential candidate has made gender obvious in this US presidential election, even to many who normally neglect its role. The specific contest between Kamala Harris and Donald Trump, along with the prominence of issues such as abortion, has resulted in a particularly large gender voting gap. Far more women have consistently indicated support for Harris and far more men for Trump.

    However, gender has always been crucial in US presidential elections, not just because of gender voting patterns but because competing performances of masculinity have always played a major role.

    Role of masculinity in 2020 election

    The last presidential election saw Joe Biden’s form of kind and caring protective masculinity being explicitly contrasted with Trump’s divisive, hyper-masculine one.

    Furthermore, strong male leaders are meant to protect the people from physical, social and economic harm. I have argued that one factor that contributed to Trump’s 2020 electoral defeat was a protective masculinity failure, especially in regard to COVID.

    For example, former President Barack Obama argued that, unlike Biden, Trump could not be counted on to protect Americans:

    Eight months into this pandemic, new cases are breaking records. Donald Trump isn’t going to suddenly protect all of us. He can’t even take the basic steps to protect himself […]. Joe understands […] that the first job of a president is to keep us safe from all threats: domestic, foreign, and microscopic.

    Trump’s re-energised protective masculinity

    However, since his 2020 electoral defeat, Trump has resurrected himself as a strong masculine protector. He claims that “our enemies” are trying to use legal charges to take away his freedom and silence him because he “will always stand” in the way of their attempt to silence the American people and take away their freedom.

    He will also be a vengeful protector, declaring:

    I am your warrior. I am your justice. And for those who have been wronged and betrayed: I am your retribution. I will totally obliterate the deep state.

    Trump has long appealed to men who feel that traditional masculinity, and its related entitlements, are under threat.

    He is currently courting white males, the youth manosphere, “techno bros”, “crypto bros”, conservative male unionists threatened by globalisation and offshoring, and conservative black and Latino men.

    He has been explicitly mobilising misogyny, including by making lewd references to Harris. JD Vance has assisted Trump’s efforts.

    Nonetheless, Trump claims that he will be a strong male protector of women, protecting them from illegal immigrants, crime, foreign threats and other anxieties:

    You will be protected and I will be your protector. Women will be happy, healthy, confident and free.

    Trump has even promised that, as a result, women “will no longer be thinking about abortion.” This is all despite his own alleged history of sexual assault.

    Harris, gender and the women’s vote

    By 2024, Biden’s apparent physical and cognitive decline meant that he was no longer a convincing masculine protector (or viable ongoing presidential candidate).

    The choice of Harris as his replacement candidate had advantages, but it was also a gamble given the combined roles of gender and race. After all, despite the long history of US racism, it still proved easier to elect a black man (Obama) to the presidency than a white woman (Hillary Clinton).

    However, the women’s vote is particularly important this election. As well as Harris’ appeal to younger and black women, Democrats have emphasised the importance of her appeal to white women, including some who previously voted Republican. Anti-Trump Republicans such as Liz Cheney are assisting Harris in appealing to the latter.

    Issues such as abortion are crucial. The overturning of Roe v Wade abortion rights, enabled by Trump stacking the Supreme Court, also puts IVF at risk by not clarifying when life begins (with implications for frozen embryos). Senate Republicans have twice blocked a vote on a Democrat-led bill designed to protect IVF. Harris has pledged to sign a law protecting abortion rights (if Congress passes it).

    Trump claims he supports IVF, won’t bring in a national ban on abortion and believes in abortion “exceptions for rape, incest, and life of the mother”.

    However, Trump Republicans are courting, and influenced by, the American religious right on abortion. There aren’t such exceptions in several Republican states, as Harris’s heartrending accounts of the impact on women and their health reveals. Furthermore, Missouri, Kansas and Idaho are also trying to drastically reduce legal access to the abortion drug mifepristone.

    Harris also emphasises other issues of particular significance for women, such as affordable childcare and better pay for care workers.

    Harris and “tonic” masculinity

    Given the role of competing masculinities in US presidential elections, Harris’ campaign has intentionally appealed to a very different form of protective masculinity from Trump’s.

    Vice presidential candidate, Tim Walz’s, “America’s dad” image (of being a warm, caring but sports loving coach, national guard serving, gun owning, hunter) is used to contrast his “tonic masculinity” with Trump’s “toxic” masculinity. Harris’s husband, Doug Emhoff, is depicted as a supportive “wife-guy” who has “reshaped the perception of masculinity” (while strongly denying allegations he once slapped a woman).

    Despite conservative claims of men being economically left behind, the Biden/Harris administration argues it has revitalised manufacturing and male jobs along with it and Harris will continue to do so. Meanwhile, Obama has urged black men to get behind Harris and the Harris campaign has highlighted its policies benefiting black men.

    Can Harris mobilise protective femininity?

    Given the major role of gender in US presidential elections, a key issue is whether Harris can successfully evoke a caring, motherly, protective femininity that promises security and economic benefits to voters and helps to counter Trump’s protective masculinity.

    Other women politicians have been able to (for example, Germany’s Angela Merkel). Women leaders particularly mobilised protective femininity during the COVID health crisis (for example, New Zealand’s Jacinda Ardern). However, it always seemed likely masculinist leadership stereotypes would re-emerge once the economy needed rebuilding after the pandemic.

    Harris has pledged she will “create an opportunity economy” and “protect our fundamental rights and freedoms, including the right of a woman to make decisions about her own body and not have her government tell her what to do”. She promises to be the kind of president “who cares about you and is not putting themselves first”. Whether such electoral pitches are successful remains to be seen.

    Why the outcome of this election is crucial for gender equality.

    A woman US president is long overdue after 46 male ones. A Trump victory would have major implications for abortion, IVF and women’s rights generally, including progress on the Biden/Harris National Strategy on Gender Equity and Equality. Immigrant and black women will be particularly vulnerable. A Trump victory would also have major implications for which models of masculinity are publicly endorsed.

    A Trump victory would embolden conservative so-called anti-gender ideology campaigns. The Trump campaign has recently spent US $21 million (A$31.9 million) on ads associating Harris with LGBTIQ+ equality, especially transgender rights.

    The Trump campaign asserts that “Kamala’s for they/them. President Trump is for you.” While Trump has also pledged that “we will get critical race theory and transgender insanity the hell out of our schools.”

    A Trump victory will influence the future US economy, including risking increasing gender inequality in an Elon Musk-style unregulated technopoly.

    Finally, academic commentators have drawn attention to the way in which socially conservative views on gender have been mobilised to support new forms of authoritarian regimes in Europe and elsewhere.

    In short, this presidential election is a crucial one for the American people generally, but for the female half of the population in particular.

    Carol Johnson 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. Gender is playing a crucial role in this US election – and it’s not just about Kamala Harris – https://theconversation.com/gender-is-playing-a-crucial-role-in-this-us-election-and-its-not-just-about-kamala-harris-242113

    MIL OSI Analysis – EveningReport.nz –