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Category: European Union

  • MIL-OSI United Kingdom: Council takes fresh vision for growth and prosperity to the heart of Government

    Source: City of Stoke-on-Trent

    At the start of our centenary year, Stoke-on-Trent is today taking a fresh vision for the city’s growth and prosperity to the heart of Government.

    The prospectus document – called Future 100 – is based around five missions and sets out a bold set of actions that, together, aim to transform the city’s economy and unlock prosperity and opportunity for decades to come.  

    A delegation – made up of the city’s MPs, the council leader, and representatives from the business and voluntary sectors – will deliver the document to 10 Downing Street today.  

    The prospectus, which has the subtitle “Shaping Our City: Growth for All”, has been drawn up by a city coalition including prominent politicians, business leaders, academics, and figures from the health and voluntary sectors. It is supported by Stoke-on-Trent’s three MPs as well as the city council.  

    It celebrates Stoke-on-Trent’s history as a hive of innovation and industry, its enviable position at the heart of the UK’s transport network, and its strengths in key growth sectors – including createch and advanced manufacturing.  

    But it also acknowledges the barriers to growth caused by historic Government underinvestment, national industrial decline in the 1980s and 1990s, and more than a decade of austerity cuts.  

    This creates a Stoke-on-Trent “paradox”: the fact the city’s economic growth has outstripped the national average over recent years, but deeply-rooted economic and social problems mean too many communities lack opportunity and are not able to reap the expected benefits of this headline growth.  

    The City Prospectus offers radical solutions – aligning itself with national Government priorities and offering the city as a test bed and pioneer for new ways of delivering local services.  

    Its five missions come with a series of bold actions that will be taken locally, as well as specific targets by which progress will be measured.  

    The prospectus is pitched as a partnership offer with Government – making clear that targeted interventions and investment will be needed to fully realise Stoke-on-Trent’s potential.  

    A foreword to the document – co-signed by Councillor Ashworth and the city’s MPs – says: “Stoke-on-Trent already has a dynamic, diverse and highly-integrated economy; a rich cultural heritage; and an indomitable sense of community spirit.   

    “The city is a strategic hub, connecting labour, goods and services across the region and the UK. With Government support and investment, we can overcome current challenges to create a city that is prosperous, inclusive and sustainable, delivering economic and social benefits locally and nationally for decades to come.   

    “We invite the Government to partner with us to unlock this city region’s full potential, transform our citizens’ lives and unleash a new era of creativity and innovation.”  

    The five missions listed in the City Prospectus are:  

    •  Securing economic growth  
    •  Delivering clean energy, sustainable transport and an improved local environment  
    • Regenerating the city  
    • Removing barriers to opportunity  
    • Improving the health and wellbeing of the population  

    The economic targets include achieving a local economy worth £9 billion a year by 2030, with 5,000 more people in employment and a 10 per cent increase in the value of locally-contracted supplies.   

    Environmental targets include tripling the amount of locally-generated renewable energy and increasing bus passenger journeys by a third in the next five years.  

    The city aims to have completed or be building 5,000 new homes, redeveloped 150 hectares of brownfield land and seen five heritage buildings removed from the “at risk” register.  

    The attainment gap will have been closed with the national average, with a 2.5 percentage point increase in the number of working-age residents with Level 3 or higher qualifications.   

    The city is also targeting a five percentage point drop in the proportion of children living in poverty, and a two-year boost to healthy life expectancy.  

    The Prospectus invites the Government to support the city’s work through specific, targeted interventions linked to the local missions and targets. That includes investment in critical growth enablers like transport infrastructure, heritage restoration and the city’s highly-successful Family Matters programme, which has driven down the number of children in care.  

    It suggests the Government could make Stoke-on-Trent a national incubator for public service reform based on higher educational attainment, and a national test best for a new model of educational inclusion aimed at enabling more children to learn in mainstream schools.  

    And it calls for innovations to unlock development, such as a revolving land fund to reclaim brownfield sites and help to kickstart council-house building.  

    Jane Ashworth, leader of Stoke-on-Trent City Council, said: “Stoke-on-Trent is already a nationally important engine of innovation and growth.  

    “But well-known obstacles have held back this growth. Austerity and chronic underinvestment in vital infrastructure have constrained our economy and mean opportunity has been unevenly spread.  

    “For too many of the people who live here, the headline growth in the city’s economy has felt like little more than a number of a spreadsheet.  

    “This is a once-in-a-generation opportunity to create something better.  

    “The City Prospectus is a radical yet achievable plan to tackle our economic, social and environmental challenges at the same time; to transform the way we deliver services; and to make Stoke-on-Trent not just an engine of growth, but one which provides high quality homes, jobs, skills and opportunities for people across North Staffordshire and beyond.”  

    Gareth Snell, MP for Stoke-on-Trent Central, said: ‘To deliver for our city and our country, we need a clear plan from Government and we need to be able to turn that into local actions.   

    “Labour’s missions focus on economic growth, city regeneration, removing barriers to opportunity and improving health and well-being. These are exactly the same priorities I want to see delivered in Stoke-on-Trent, so forging a new partnership with Government is the best way to ensure we all succeed.  

    “The Future 100 prospectus sets a series of ambitious targets and outlines what Stoke-on-Trent can contribute. But it also sets out the additional help and resources that the city will need to achieve those goals.”   

    Allison Gardner, MP for Stoke-on-Trent South, said: “Our city, shaped by its rich industrial history, has always been a place of hard work and innovation.   

    “The same spirit that built our city can lead it into a new chapter, driving the country forward once again.  

    “Stoke-on-Trent stands strong and proud, despite having been let down previously by the central Government. With the support of this Labour Government, our potential is limitless.” 

    David Williams, MP for Stoke-on-Trent North, said: “The Future 100 prospectus represents a bold and ambitious vision for Stoke-on-Trent’s next century, rooted in our city’s rich history of creativity, resilience, and innovation.  

    “For too long our city has not received the investment we deserve. We were hit hard by austerity and post-industrial decline stifled economic growth.  

    “The Future 100 prospectus represents a turning point, ensuring real investment in our transport infrastructure, beloved community assets, business growth and in improving opportunity for all.  

    “This is a moment for real transformation for our city, one where we seize the opportunity to build a thriving, sustainable, and inclusive future for all. With targeted investment and strategic action, we can unlock Stoke-on-Trent’s full potential, creating lasting economic and social benefits that will shape generations to come. 

    “I am grateful for the council’s leadership on creating this bold vision for our city, and I look forward to working with the Government, the council and other partners to turn the vision into a reality.” 

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New homeless prevention drop-ins start

    Source: City of York

    L-r: Cllr Pavlovic, Jenny Newman and Evie Bailey at Carecent

    Published Wednesday, 26 February 2025

    As the risk of homelessness continues to worry many residents and be a reality for some, the Council is increasing support to help people keep their home with a new face-to-face service.

    At the monthly Homeless Prevention drop-in sessions, the friendly and knowledgeable team will work with residents on a wide range of issues.

    These include tackling rent arrears and debt, liaising with landlords, maximising income, addressing issues with neighbours and more. The team aims to resolve problems and prevent disputes arising, and to ensure residents can keep their homes and manage their tenancy.

    Cllr Michael Pavlovic, Executive Member for Housing at City of York Council, said:

    The ongoing cost of living crisis and pressures on housing are still affecting many residents with whom we work hard to help keep their homes.

    “People facing homelessness each have their own challenges to address. To support them and avoid the devastation of losing their home, we are boosting homeless prevention work by running the drop-in sessions and helping people with mental health issues. Please use them and work with us to help you keep your home.”

    The new drop-in Homeless Prevention sessions start at Carecent, St Saviourgate YO1 8NQ on Wednesday 26 February from 1-3pm. They will take place on the last Wednesday of every month and are available for people aged 18 or over.

    For more information on homelessness and support to avoid it, please visit www.york.gov.uk/HousingOptions.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Foreign Secretary article on defence spending: February 2025

    Source: United Kingdom – Executive Government & Departments 3

    Authored article

    Foreign Secretary article on defence spending: February 2025

    Foreign Secretary David Lammy writes in the Guardian about the biggest sustained increase in defence spending since the cold war.

    There are moments in history when everything turns, but the extent of change is not perceived until later when the fog has cleared. These are hinge points that require clear leadership and bold action. In the late 1940s, my [political content redacted] predecessor and hero Ernie Bevin, alongside Clement Attlee, saw through the fog when they led Britain into Nato and the UN, and secured the development of Britain’s nuclear deterrent.

    In the 1960s, Harold Wilson saw through the paranoia of the cold war, refusing Lyndon Johnson’s request to send British troops to Vietnam. In the 1990s, Tony Blair understood that unless we stopped the president of Serbia, Slobodan Milošević, there would be no peace in the Balkans.

    Three years into Vladimir Putin’s brutal war, this is again a hinge point for Britain. Keir Starmer’s commitment to dramatically raise defence spending in both this and the next parliament shows his leadership through the fog. Putin’s Russia is a threat not only to Ukraine and its neighbours, but to all of Europe, including the UK.

    Over successive administrations, our closest ally, the US, has turned increasingly towards the Indo-Pacific, and it is understandably calling for Nato’s European members to shoulder more of the burden for our continent’s security. Around the world, the threats are multiplying: from traditional warfare to hybrid threats and cyber-attacks.

    The first duty and foundation of this government’s Plan for Change is our national security. Seven months ago, the public gave us this responsibility, and we hold it with a profound sense of duty. [political content redacted] We will deliver the biggest sustained increase in defence spending since the cold war (political content redacted).

    So we will hit our 2.5% promise in 2027 and, subject to economic conditions, go further, with defence spending rising to 3% during the next parliament. This is a pledge to safeguard our future – and act as a pillar of security on our continent –in a world plagued by more active conflicts than at any time since the second world war.

    To make this commitment, and stick within our fiscal rules, we have had to make the extremely difficult decision to lower our spending on international development. As the Prime Minister said, we do not pretend any of this is easy.

    This is a hard choice that no government (political content redacted)makes lightly. I am proud of our record on international development. It helps address global challenges from health to migration, contributes to prosperity, and supports the world’s most vulnerable people.

    It grows both our soft power and our geopolitical clout, while improving lives. For all of those reasons, this government remains committed to reverting spending on overseas aid to 0.7% of gross national income when the fiscal conditions allow.

    But we are a government of pragmatists not ideologues – and we have had to balance the compassion of our internationalism with the necessity of our national security.

    As we reduce the overseas aid budget, we will protect the most vital programmes in the world’s worst conflict zones of Ukraine, Gaza and Sudan. But there can be no hiding from the fact that many programmes doing vital work will have to be put on hold. The work of making further tough choices about programmes will proceed at pace over the weeks and months ahead, but our core priorities will remain the same.

    My vision for a reformed Foreign, Commonwealth & Development Office fit for this more contested and dangerous world, in which diplomacy is more important than ever, remains paramount. We are working closely with the Treasury to ensure our diplomatic, intelligence and development footprint will align with our priorities. In a tough fiscal environment, all our spending must be laser-focused on delivering the maximum possible impacts for our national security and growth, equipping the FCDO to deliver the government’s plan for change internationally.

    At the height of the cold war, defence spending fluctuated between about 4% and 7% of GDP. At this moment of fiscal and geopolitical flux, not meeting the moment on defence would mean leaving Britain ill-prepared for a more dangerous world, potentially requiring even tougher choices down the line.

    I have written previously about this government’s foreign policy being founded on progressive realism. Being clear about our values, but treating the world as it is, not as we would wish it to be. These are the principles that guide our choices through these dangerous times. We will always do what is necessary to keep the public safe.

    This article was first published in The Guardian on 25 February 2025.

    Updates to this page

    Published 25 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Greens press government to act on Grenfell oversight

    Source: Green Party of England and Wales

    Responding to the government’s announcement that it will accept all the recommendations from the Grenfell Tower Inquiry (1), Green MP Carla Denyer urged the government to accept her Private Members’ Bill on preventing future deaths. 

    Carla’s Bill calls for the creation of a National Oversight Mechanism which would have responsibility for ensuring that recommendations made following inquests and inquiries are followed. Currently, there is no body which has this responsibility. 

    Reacting to the government’s statement, Carla Denyer MP said: 

    “The deaths of 72 people in the Grenfell tower fire was an unimaginable tragedy, but worse, it was an avoidable tragedy. We owe it to those who lost their lives to make sure nothing like this happens again. 

    “I welcome the Government’s commitment to taking forward all of the report’s recommendations, a vital first step towards justice. 

    “The Grenfell Inquiry recognised a failure of the state to properly follow up on the recommendations made by inquests and inquiries – meaning that too often, changes needed to prevent people from harm are simply not made. Time and time again, bereaved families go through the trauma of reliving the circumstances of a loved one’s death at an inquest only for the lessons from that death to be forgotten.

    “We urgently need an organisation responsible for making sure that recommendations from inquests and inquiries are actually followed, rather than being forgotten. I have put forward a Bill to create a National Oversight Mechanism for state-related deaths, which would do just that. It would be an independent body, able to scrutinise government action so bereaved families don’t have to be the ones fighting for change.

    “The National Oversight Mechanism proposal has the support of over 70 organisations, including Grenfell United, Amnesty, the Mayor of London, and the Institute for Government. It recently featured as a recommendation in the Health Services Safety Investigations Body’s report on deaths of mental health patients. It’s clear that this is badly needed, and I hope the government will support my Bill.” 

    (1) Government responds in full to Grenfell Tower Inquiry, setting out tough new reforms to fix building safety and strengthen accountability  – GOV.UK

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Enhanced registration service to reduce requisitions and delays

    Source: United Kingdom – Executive Government & Departments

    News story

    Enhanced registration service to reduce requisitions and delays

    HM Land Registry is introducing enhanced digital checks to support our customers to submit error-free applications.

    MMD Creative/Shutterstock.com

    • Simple administrative errors, such as name or title number errors, will be highlighted on submission for all digital applications submitted through Business Gateway and the Digital Registration Service in the portal.
    • The enhanced service will be delivered in autumn 2025. We will be working with our existing third-party integrators to migrate to the new service in the following months.
    • Customers will be prompted to resolve highlighted errors before resubmitting applications.
    • By resolving these errors before accepting applications, we will save our customers thousands of hours spent on unnecessary administrative tasks and enable an improved speed of service by allowing caseworkers to focus on the more complex areas of land registration.

    From autumn 2025, customers submitting applications through the Digital Registration Service, on both the HM Land Registry portal and through third-party software providers, will be unable to submit applications containing simple errors. We’ll be working with third-party integrators to support the adoption of this new service. 

    Many of these checks are already being performed in the Digital Registration Service on the portal and will soon be available for all Business Gateway-enabled software. 

    By 2028 this could save customers an estimated 300,000 hours a year, waiting for an unnecessary, manual, administrative process, and end annoying requisitions that can be resolved much earlier. This is roughly 150 people, working full time, for a year.

    Mark Gray, Chief Transformation & Technology Officer, said

    This is another key milestone in improving our customer service and our processing times. By preventing errors up-front, automating routine tasks and removing unnecessary correspondence, we will save time for our customers and our caseworkers alike. And this is just the next step in modernising and automating more of our work, there is much more to come.

    HM Land Registry is focusing on easily avoidable, administrative errors to save customers’ time but also to enable further automation of HM Land Registry processes – removing time-consuming administrative work and improving overall service speeds.

    The organisation will continue to enhance the registration service by introducing further checks on the data contained in transfer and charge deeds in late 2026.

    Read through the full list of checks.

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Applied Systems Shines in Built In’s 2025 Best Places to Work Awards

    Source: GlobeNewswire (MIL-OSI)

    Chicago, IL., Feb. 26, 2025 (GLOBE NEWSWIRE) — Applied Systems® today announced its recognition in Built In’s 2025 Best Places to Work Awards. Each year, Built In celebrates tech companies of all sizes across the U.S. that offer exceptional total rewards packages, highlighting the innovative workspaces and employee-centric programs that set them apart. Applied secured impressive rankings on Built In’s “100 Best Large Companies” and “100 Best Places to Work” lists.

    100 Best Large Companies (1,000+ employees):

    • Dallas: #18
    • Austin: #23
    • Atlanta: #29
    • Boston: #34
    • Chicago: #36

    100 Best Places to Work:

    • Dallas: #25
    • Austin: #34
    • Atlanta: #32
    • Boston: #49
    • Chicago: #61

    “Being recognized as a Best Place to Work is a testament to these companies’ commitment to building a workplace where individuals and innovation thrive,” said Maria Christopoulos Katris, founder and chief executive officer, Built In. “At Built In, we understand that great companies are powered by great teams, and this achievement showcases their dedication to fostering a culture of growth, inclusivity, and excellence. Congratulations on this well-deserved honor.”

    Built In selects its Best Places to Work winners using an algorithm that analyzes company data on compensation, benefits, remote work, DEI initiatives, and other cultural factors, reflecting the benefits most valued by tech professionals in the workplace.  

    “We are incredibly proud to be recognized in Built In’s 2025 Best Places to Work Awards,” said Bridget Penney, chief people officer, Applied Systems. “This acknowledgment reflects our commitment to our people and delivering better outcomes for each other and our customers, fostering an environment where amazing career moments are made possible.”

    # # #

    The Applied products and logos are trademarks of Applied Systems, Inc., registered in the U.S.

    About Applied Systems
    Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.

    The MIL Network –

  • MIL-OSI: Šiaulių Bankas Group Results for the Year 2024

    Source: GlobeNewswire (MIL-OSI)

    • Financial targets. Šiaulių Bankas Group demonstrated strong performance and successfully achieved all its financial targets for 2024, delivering on its guidance
    • Profit. Šiaulių Bankas Group earned a record net profit of €78.8 million
    • Loan portfolio. The loan portfolio grew by 17% year-on-year to over €3.4 billion
    • Deposits. The deposit portfolio grew by 12% over the year to almost €3.6 billion at the end of 2024
    • Fee & commission income. Net fee and commission income grew by 44% year-on-year to over €29 million
    • Dividends. Šiaulių Bankas Group intends to propose a distribution of 50% of its 2024 net profit, or €0.061 dividend per share
    • Share buybacks. Will allocate up to 5% of the 2024 net profit for own share buybacks
    • Rebranding. A rebranding of Šiaulių Bankas will be proposed for the upcoming shareholders’ meeting

    “In 2024, we have successfully integrated INVL’s retail business into Šiaulių Bankas Group, updated our long-term vision and strategy, and initiated a business transformation that we believe will bring greater value to our customers, shareholders, and society.

    While launching strategic projects such as the replacement of the core banking platform and rebranding preparation, we maintained high profitability and service quality, effectively managing risk and costs.

    The successful implementation of our first international bond issuances and the updated dividend policy demonstrate our commitment to efficient capital utilization and delivering high returns to shareholders during the transformation period,” says Vytautas Sinius, CEO of Šiaulių Bankas.

    Šiaulių Bankas Group earned an unaudited net profit of €78.8 million in 2024 which is 5% more than in 2023. Operating profit before allowance for impairment losses and income tax amounted to €107.3 million, a 3% decrease compared to operating profit of €111.0 million in 2023.

    Net interest income grew by 2% year-on-year to €160.2 million, while net fee and commission income grew by 44% to over €29 million. The latter increased 11% in the last quarter of 2024 alone, compared to Q3 2024.

    All loan book segments grew during the year, with the total loan portfolio increasing by 17% (€503 million) to €3.43 billion. New credit agreements worth €1.5 billion were signed during the year, 14% more than in 2023 (€1.3 billion).

    The quality of the loan portfolio remains strong, with provisions of €11.3 million made in 2024, €4 million less than in 2023. The Cost of Risk (CoR) of the loan portfolio for year 2024 was 0.35% (0.54% for the 2023).

    The deposit portfolio grew by 12% since the beginning of the year (€383 million) and exceeded €3.5 billion at the end of the year. The amount of term deposits grew by 22% (€348 million) to over €1.9 billion during the year and their share in the total deposit portfolio increased by 5 percentage points to 54%.

    The bank’s capital structure was enhanced by an additional issue of Tier 1 (AT1) bonds of €50 million in the fourth quarter. All issuances made in 2024 have significantly strengthened and diversified the capital base, which allows for continued rapid growth while ensuring high returns for investors.

    The Bank’s Management Board, taking into the account the updated dividend policy, the bank’s strong performance in 2024, its robust capital position, and the favourable outlook for the operating environment, has decided to propose a dividend of 50% of the 2024 net profit (€0.061 per share) for approval at the Bank’s Annual General Meeting.

    Šiaulių Bankas has repurchased own shares worth €10.2 million and is planning to continue with buyback programmes, in line with the existing the European Central Bank’s (ECB’s) authorisation granted on 15th August 2024. The bank will also propose to allocate up to 5% of its 2024 net profit for the share buybacks for the capital reduction purpose, and to grant shares as part of the deferred variable remuneration for the employees of the Šiaulių Bankas Group.

    The group’s cost/income ratio (C/I) was 49.0%1 (41.2%1 in 2023) and the return on equity (RoE) was 14.0% (15.5% in 2023) at the end of the year. The capital and liquidity position remained strong and prudential ratios are being met by a wide margin. The capital adequacy ratio (CAR) stood at 22.8%2 and the liquidity coverage ratio (LCR) at 232%2.

    Income Statement (€’m) FY2024 FY2023 % ∆
           
    Net Interest Income 160.2 156.9 2%
    Net Fee & Commission Income 29.1 20.3 44%
    Other Income 34.4 19.3 78%
    Total Revenue 223.7 196.5 14%
           
    Salaries and Related Expenses (49.5) (36.2) 37%
    Other Operating Expenses (66.9) (49.3) 36%
    Total Operating Expenses (116.4) (85.5) 36%
           
    Operating Profit 107.3 111.0 (3%)
    Allowance for Impairment Losses (10.9) (15.2) (28%)
    Income Tax Expense (17.7) (20.4) (13%)
           
    Net Profit 78.8 75.4 5%
           
    Balance Sheet Metrics (€’m) Dec 2024 Dec 2023 % ∆
           
    Loans 3 435 2 932 17%
    Total Assets 4 923 4 808 2%
    Deposits 3 561 3 178 12%
    Equity 585 543 8%
           
    Assets under Management3 1,977 1,556 27%
    Assets under Custody 1,936 1,943 0%
           
    Key Ratios FY2024 FY2023 ∆
           
    Net Interest Margin (NIM) 3.3% 4.2% -93bps
    Cost-to-Income ratio (C/I)1 49.0% 41.2% +779bps
    Return on Equity (RoE) 14.0% 15.5% -146bps
    Cost of Risk (CoR) 0.3% 0.5% -19bps
    Capital Adequacy Ratio (CAR)2 22.8% 22.4% +36bps
             

    Overview of Business Segments

    Corporate Client Segment

    Šiaulių Bankas has significantly increased the volume of corporate financing over the year – in 12 months new corporate financing agreements worth of €960 million were signed in 2024, 29% increase compared to previous year. In the 2024 the portfolio has grown by 20% (€308 million) to over €1.8 billion. Growth has been well-diversified across several strategic sectors, including manufacturing, retail, and renewable energy. A favourable business environment has encouraged investment and created additional opportunities for expansion.

    Šiaulių Bankas continued its commitments to promote sustainability and signed amendments to the Pre-financing and Contingent loan agreements with the European Investment Bank (EIB) concluded in 2016 to increase the Bank’s investment up to €255 million from €195 million – to finance the modernization programme of multi-apartment buildings in Lithuania.

    Private Client Segment

    In 2024, Šiaulių Bankas has successfully implemented key strategic initiatives that strengthened its market position and ensured sustainable growth. The successful integration of INVL retail business was a major accomplishment, which enabled the bank to expand its service offering and provide customers with even more opportunities. The implementation of new core banking platform is on track, promising a greater efficiency and an improves customer experience.

    To strengthen its image and further meet the expectations of its customers, Šiaulių Bankas has also started preparations for the rebranding. A rebranding of Šiaulių Bankas will be proposed for the upcoming shareholders’ meeting.

    The volume of new mortgage contracts in 2024 increased by 21% year-on-year to €213 million. In 2024 the mortgage portfolio has grown by 17% (€136 million) reaching €0.9 billion. The volume of new consumer loan contracts increased by 5% year-on-year to €232 million. Since the beginning of 2024, the consumer loan portfolio has grown by 19% (€57 million) to over €0.35 billion.

    Investment Client Segment

    The bank has remained active in the local corporate bond market, originating €42 million in corporate bonds across 10 issuances for its clients in Q4 2024. Total corporate bond issuance for the year reached €227 million. According to Nasdaq Baltics, Šiaulių Bankas is leading security issuer in Lithuania and the Baltic States and maintains the largest share of securities trading on the Lithuanian stock exchange.

    Šiaulių Bankas demonstrated strong performance in asset management business in 2024. Client assets under management (AuM) reached €1.46 billion and grew by €277 million year-on-year. Growth was driven by new client investment flows and investment performance. In 2024, Šiaulių Bankas asset management company, earned €164.4 million for Tier II pension fund clients and €19.8 million for Tier III clients. In total, the profit generated for clients during the year was €184.2 million.

    SB Alternative Investment Fund III, providing new investment opportunities for Lithuanian retail investors, has enjoyed a successful launch, attracting over €6 million in 2024. Distribution of units of the investment fund is ongoing.

    The Life Insurance segment also showed steady growth, Risk Under Management (RUM) reaching EUR 1.7 billion in the fourth quarter, EUR 174 million more than a year ago.

    1after eliminating the impact of the client portfolio of SB Draudimas
    2preliminary data
    3includes Asset Management and Modernisation Funds AuM

    Šiaulių Bankas invites shareholders, investors, analysts and all interested parties to a webinar presentation of the financial results and highlights for the 2024. The webinar will start on 27 February 2025 at 8.30 am (EET). The webinar will be held in English. Please register here. Please find attached the information that will be presented at the webinar.

    If you would like to receive Šiaulių Bankas’ news for investors directly to your inbox, subscribe to our newsletter.

    Additional information:
    Tomas Varenbergas
    Head of Investment Management Division
    tomas.varenbergas@sb.lt

    Attachments

    The MIL Network –

  • MIL-OSI Economics: Joachim Nagel: Presentation of the Deutsche Bundesbank’s Annual Report 2024

    Source: Bank for International Settlements

    Check against delivery 

    1 Welcome

    Ladies and gentlemen, 

    I would like to welcome you to our press conference, at which we will present our annual accounts.

    First Deputy Governor Sabine Mauderer will explain our annual accounts to you in more detail in just a few moments. 

    To begin, however, I would like to take a look at current developments in economic activity and prices. I will then explain what conclusions I draw for our monetary policy stance. And, at the end of my statement, I will present the most important figures from our profit and loss account.

    2 Need for economic policy action in Germany

    Two days on from the snap Bundestag election, the election results are at the focus of attention among the media and the public as a whole.

    There is a clear government mandate and a likely option for a coalition. In view of this, I hope that a new government will be formed swiftly.

    I am sure that all of the parties involved are cognisant of their responsibility: Germany needs an effective government as soon as possible. A government that uses smart economic policy to enable the economy to get back on track. That puts the German economy on a path to higher growth. By ensuring greater certainty of planning and improving supply-side conditions.

    MIL OSI Economics –

  • MIL-OSI Global: How tourism and fish farming can thrive together

    Source: The Conversation – UK – By Mausam Budhathoki, Postdoctoral Researcher, Institute of Aquaculture, University of Stirling

    The tourism and aquaculture sectors have been working together in Oban, on Scotland’s west coast. Rab Woods/Shutterstock

    In many coastal regions, tourism and fish farms are vital industries that drive economic growth. Yet, they often compete for space, raising concerns about how to balance these two sectors without compromising the environment or local livelihoods.

    In Oban, on the west coast of Scotland, the twin industries of tourism and aquaculture are learning to coexist – and even thrive together. Coastal communities can face economic challenges due to the seasonal nature of tourism as well as often limited job options. Their reliance on coastal resources, which are increasingly affected by environmental changes, can heighten the difficulties.

    Aquaculture in high-income countries hasn’t always had the best reputation. Public perception can be negative due to concerns about the environmental impact and resource use. But when it’s practised sustainably, aquaculture can in fact help meet global food demands and contribute to the UN’s sustainable development goals, a blueprint for economic growth that’s equitable and environmentally aware.

    Our recent study explored how tourists perceive aquaculture during their holiday and whether exposure to fish farms influences their willingness to consume locally farmed seafood. The results suggest that integrating aquaculture and tourism can increase awareness of sustainable seafood and create economic opportunities.

    Oban’s coastline is home to salmon farms, shellfish cultivation, including mussels and oysters, and new seaweed farms. All of these sit in waters popular for marine tours. The tours attract visitors eager to learn more about local wildlife and history. But, aquaculture often faces criticism due to its impact on the landscape and marine ecosystems.

    This tension is not unique to Oban. Across Europe, aquaculture growth has stagnated despite its potential to improve food security and sustainability. Regulatory challenges and conflicts over space are significant hurdles. This is especially true in coastal communities where the acceptance and support of the community – known as a “social licence to operate” – is crucial.

    But our study offers a promising solution: aquaculture–tourism integration. By showcasing aquaculture as part of the tourism experience, Oban can educate visitors, encourage greater acceptance of sustainable farming practices and boost the local economy.

    What tourists think about aquaculture

    We surveyed 200 tourists on marine tours in Oban to understand how they view aquaculture. The responses revealed three main types of tourists. These are those with multiple motivations (visitors drawn by nature, socialising and learning); “relaxers” (tourists seeking rest and relaxation, often with little previous knowledge of aquaculture); and outgoing nature enthusiasts (active travellers who value wildlife and environmental conservation).

    Despite their different motivations, most tourists responded positively to seeing fish farms during their tours. The most notable shift was among the “relaxers”, who were more interested in eating locally farmed seafood after learning about sustainable farming practices. This shows how education and direct experience can reshape the way seafood production is perceived.

    Aquaculture sites are often viewed as eyesores, but our findings show that when framed as part of local culture, they can actually enrich the tourist experience. Tourists appreciated learning about sustainable seafood production as the boats approached floating net cages and began to view aquaculture as a positive part of the community.

    Marine tours could include stops at aquaculture sites to let visitors see the operation, hear from farmers and even sample the products. This would present an opportunity to engage tourists and encourage a connection with the industry – potentially building trust with the public.

    A successful hybrid venture in the seas around Rhodes, Greece.

    This kind of integration offers several advantages. First, it can drive economic growth by attracting tourists interested in sustainable food and environmental practices. This can create a new revenue stream for both the aquaculture and tourism sectors. For example, a small farm on the Greek island of Rhodes partners with a diving centre to offer marine biology tours and dives around its site. Visitors learn about sustainable aquaculture and swim with sea bream in net pens, exploring how these practices support environmental conservation.

    Beyond the economic benefits, it can also raise environmental awareness. As tourists learn about sustainable seafood farming, they are more likely to support more environmentally friendly food production in general.

    By understanding how aquaculture contributes to food security, public perceptions could shift, leading to broader acceptance of aquaculture as a solution for global food challenges. And positive experiences of aquaculture not only shift perceptions but also make it easier for operators to win support from the community and encourage a more responsible approach to farming practices. However, it’s important that these efforts are honest and truly focused on environmental and social responsibility.

    While many of the benefits are clear, there are challenges. Both aquaculture and tourism can damage the environment. Tourism can lead to habitat disruption and pollution, while poorly managed aquaculture can affect water quality and marine biodiversity.

    But when farms are regularly visited as part of tourism activities such as boat tours or guided farm visits, there is a greater incentive to maintain high environmental standards. Nonetheless, careful planning and regulation are essential to ensure both sectors operate sustainably without harming ecosystems.

    Another challenge is the aesthetic impact of aquaculture, a common issue with industrial food production. Fish farms inevitably alter coastal landscapes, but operators can choose design solutions that balance production needs with preserving the outlook.

    Finally, competition for resources and space can lead to conflicts between tourism and aquaculture. Coastal communities must manage these demands carefully to ensure both sectors can thrive. This requires collaboration between tourism operators and aquaculture farmers to prevent clashes over infrastructure and resources.

    Oban’s successful integration of aquaculture and tourism offers a model that can could be replicated by coastal communities globally. But barriers, such as the remoteness of some farms or regulatory requirements, may limit feasibility. However, by transforming fish farms into educational attractions, Oban demonstrates how sustainable practices can benefit both sectors.

    With a focus on cooperation, education and responsible farming, an integrated approach between tourism operators and aquaculture companies could strengthen the reputation of local seafood. Ultimately, it offers a sustainable model for coastal communities.

    Mausam Budhathoki receives funding from the EATFISH project, funded by the European Union’s Horizon 2020 Research and Innovation Programme (Grant 956697).

    Dave Little receives funding from EATFISH project, funded by the European Union’s Horizon 2020 Research and Innovation Programme (Grant 956697).

    – ref. How tourism and fish farming can thrive together – https://theconversation.com/how-tourism-and-fish-farming-can-thrive-together-249835

    MIL OSI – Global Reports –

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

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

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

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

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

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

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

    No longer an ally

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

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

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

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



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

    EU defence without the US

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

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

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



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

    Europe has to renew its purpose

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

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

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

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

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

    MIL OSI – Global Reports –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

    About Turbo Energy, S.A.

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

    Forward-Looking Statements

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

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

    Attachment

    The MIL Network –

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

    Source: United Kingdom – Executive Government & Departments

    Correspondence

    ESFA Update: 26 February 2025

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

    Applies to England

    Documents

    ESFA Update further education: 26 February 2025

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    ESFA Update academies: 26 February 2025

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    ESFA Update local authorities: 26 February 2025

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    Details

    Latest for further education

    Article Title
    Information Latest apprenticeship announcements
    Information Residency eligibility for adult learners with an eVisa

    Latest information for academies

    Article Title
    Information Residency eligibility for adult learners with an eVisa
    Events and webinars Buying ICT for your school or trust

    Latest information for local authorities

    Article Title
    Information Residency eligibility for adult learners with an eVisa
    Events and webinars Buying ICT for your school or trust

    Updates to this page

    Published 26 February 2025

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    MIL OSI United Kingdom –

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

    Source: City of Salford

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

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

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

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

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

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

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

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

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

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

    Share this

    Date published
    Wednesday 26 February 2025

    Press and media enquiries

    MIL OSI United Kingdom –

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

    Source: Government of Italy (English)

    26 Febbraio 2025

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

    [[Press statements – Original audio]]

    MIL OSI Europe News –

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

    Source: United Kingdom London Metropolitan Police

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

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

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

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

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

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

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

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

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

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

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

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

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

    MIL Security OSI –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

    Scality Partner of the Year Award Winners

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

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

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

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

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

    The MIL Network –

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

    Source: United Kingdom – Executive Government & Departments

    Press release

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

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

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

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

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

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

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

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

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

    The Deputy Prime Minister Angela Rayner said:   

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

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

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

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

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

    Reforms set out today include:

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

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

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

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

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

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

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

    Building Safety Minister Alex Norris said:   

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

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

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

    Supplier Accountability  

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

    A legacy of justice for the Grenfell community   

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

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

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

    Notes to editors:

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

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

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

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

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

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

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

    Other measures include:

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

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

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

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

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

    Source: Channel Islands – States of Alderney

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

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

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

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

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

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

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

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

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

    William Tate, President

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

    MIL OSI United Kingdom –

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

    Source: City of York

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Find out more about the Swap2Stop offer.

    MIL OSI United Kingdom –

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

    Source: City of York

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

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

    Roland Emmans said:

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

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

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

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

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

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

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

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

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

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

    MIL OSI United Kingdom –

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

    Source: City of Manchester

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

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

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

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

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

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

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

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

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

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

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

    MIL OSI United Kingdom –

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

    Source: World Health Organisation

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

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

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

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

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

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

    Acting to stop AMR

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

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

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

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

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

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

    Strengthening health security

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

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

    MIL OSI United Nations News –

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

    Source: United Kingdom London Metropolitan Police

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

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

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

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

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

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

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

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

    MIL Security OSI –

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

    Source: GlobeNewswire (MIL-OSI)

    Company delivers ~10% EPS growth in 2024

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

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

    Financial performance highlights for the full-year:

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

    Financial performance highlights for the fourth quarter of 2024:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Full-year 2025:

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

    First quarter 2025:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    The MIL Network –

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

    Source: Traditional Unionist Voice – Northern Ireland

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

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

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

    Commenting on the venture TUV leader Jim Allister said:

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

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

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

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

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

    MIL OSI United Kingdom –

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

    Source: United Kingdom – Executive Government & Departments

    News story

    Change of British High Commissioner to Australia: Dame Sarah MacIntosh

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

    Sarah MacIntosh

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

    Curriculum Vitae

    Full name: Dame Sarah MacIntosh DCMG

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

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

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

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

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

    Source: City of Oxford

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

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

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

    About the case studies 

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

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

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

    How to use the resources 

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

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

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

    Housing emissions in Oxford 

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

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

    Comment 

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

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

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

    Barbara Hammond, CEO, Low Carbon Hub

    MIL OSI United Kingdom –

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

    Source: Scottish Greens

    26 Feb 2025 Climate

    BP is damaging our climate and communities.

    More in Climate

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

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

    Ms Slater said:

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

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

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

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

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

    Ms Slater added:

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

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

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

    MIL OSI United Kingdom –

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

    Source: Scottish Greens

    26 Feb 2025 Climate

    Labour must work for people and planet.

    More in Climate

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

    Scottish Greens Co-Leader Patrick Harvie said:

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

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

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

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

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

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

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

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

    MIL OSI United Kingdom –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

    Notes to the editor:

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

    About Mavenir

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

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

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

    Mavenir PR Contacts:
    Emmanuela Spiteri
    PR@mavenir.com

    The MIL Network –