SAN DIEGO, Jan. 29, 2025 (GLOBE NEWSWIRE) — Quick Custom Intelligence (QCI), a leading provider of cutting-edge business intelligence solutions for the casino industry, and Modulus, an innovator in advanced gaming system technology, are pleased to announce a successful showcase at the International Casino Expo (ICE). Throughout the event, both companies met with dozens of current customers and new prospects, demonstrating the latest in AI technology and data-driven business intelligence tools.
By joining forces in the Modulus booth, QCI and Modulus underscored the synergy of their combined technologies, generating excitement among attendees. The live demos highlighted how these next-generation solutions can empower casinos to make data-driven decisions, enhance customer engagement, and streamline operations.
“The energy at this year’s ICE was truly inspiring,” said Marc Attal, COO of Modulus. “Our newest technology received an exceptional response, and our digitalization strategy for slots and tables resonated deeply with clients who clearly saw the benefits of optimization it brings. Showcasing QCI’s solutions in our booth amplified our message and created an immersive experience that highlighted the potential of the cutting-edge AGI55 platform. The excitement and enthusiasm from both existing and prospective clients made this one of our most successful shows yet, reaffirming our commitment to innovation and excellence.”
“It was fantastic to be part of the show,” remarked Andrew Cardno, CTO of QCI. “Meeting so many new customers and prospects has sparked a sense of excitement and optimism for what lies ahead for QCI in the global casino market. We are grateful to Modulus for the opportunity to partner in showcasing how our integrated solutions can help casinos operate more efficiently and profitably.”
Both companies look forward to expanding their footprint in international gaming markets, fueled by the success and enthusiasm generated at ICE. QCI and Modulus remain committed to developing innovative technologies that drive real-world results for casino operators everywhere.
ABOUT Quick Custom Intelligence Quick Custom Intelligence (QCI) has pioneered the revolutionary QCI AGI Platform, an artificial intelligence platform that seamlessly integrates player development, marketing, and gaming operations with powerful, real-time tools designed specifically for the gaming and hospitality industries. Our advanced, highly configurable software is deployed in over 250 casino resorts across North America, Australia, New Zealand, Canada, Latin America, and The Bahamas. The QCI AGI Platform, which manages more than $35 billion in annual gross gaming revenue, stands as a best-in-class solution, whether on-premises, hybrid, or cloud-based, enabling fully coordinated activities across all aspects of gaming or hospitality operations. QCI’s data-driven, AI-powered software propels swift, informed decision-making vital in the ever-changing casino industry, assisting casinos in optimizing resources and profits, crafting effective marketing campaigns, and enhancing customer loyalty. QCI was co-founded by Dr. Ralph Thomas and Mr. Andrew Cardno and is based in San Diego, with additional offices in Las Vegas, St. Louis, Denver, Dallas, and Tulsa. Main phone number: (858) 299.5715. Visit us at www.quickcustomintelligence.com.
ABOUT Andrew Cardno
Andrew Cardno is a distinguished figure in the realm of artificial intelligence and data plumbing. With over two decades spearheading private Ph.D. and master’s level research teams, his expertise has made significant waves in data tooling. Andrew’s innate ability to innovate has led him to devise numerous pioneering visualization methods. Of these, the most notable is the deep zoom image format, a groundbreaking innovation that has since become a cornerstone in the majority of today’s mapping tools. His leadership acumen has earned him two coveted Smithsonian Laureates, and teams under his mentorship have clinched 40 industry awards, including three pivotal gaming industry transformation awards. Together with Dr. Ralph Thomas, the duo co-founded Quick Custom Intelligence, amplifying their collaborative innovative capacities. A testament to his inventive prowess, Andrew boasts over 150 patent applications. Across various industries—be it telecommunications with Telstra Australia, retail with giants like Walmart and Best Buy, or the medical sector with esteemed institutions like City Of Hope and UCSD—Andrew’s impact is deeply felt. He has enriched the literature with insights, co-authoring eight influential books with Dr. Thomas and contributing to over 100 industry publications. An advocate for community and diversity, Andrew’s work has touched over 100 Native American Tribal Resorts, underscoring his expansive and inclusive professional endeavours.
ABOUT Modulus
As one of the world’s largest independent gaming management system providers, Modulus operates across 40 countries spanning Europe, Africa, South America, Canada, and Asia. Our multilingual suite of management software empowers gaming operators to optimize revenues and efficiently manage costs. With headquarters in Monaco and offices in France and Austria, along with partner offices in South Africa, Latin America, and Asia, our dedicated team of R&D and support professionals ensures the highest levels of customer engagement and product development. Explore the innovative technology of SYSTM Connect, enhancing player experiences and delivering fast, reliable network communication. Visit our website at www.modulusgroup.eu.
In an age when home offices, hybrid work arrangements and blurred boundaries between work and personal life are the norm, a recently established narrative is intensifying: the integration of spirituality into business.
This idea involves deliberately incorporating personal values and meaningful purpose into all aspects of organisational life – from individual expression to workplace practices and corporate identity. It’s an approach that seeks to cultivate environments where employees can find deeper meaning in their work while contributing to both economic and social progress, as my past research in the Journal of Business Ethics shows.
Spirituality in business transcends traditional management methods by acknowledging the inner lives of workers, promoting their personal growth and fostering genuine community connections. According to a 2016 interview with Eileen Fisher, the founder and then CEO of a $450-million fashion brand, company meetings opened with the ring of a meditation bell followed by a minute of silence. Fisher said the practice allows employees “to get in touch with what they’re there for and what matters to them and show up a little differently” and has contributed to the company’s recognised leadership in sustainability and women’s advocacy.
But are all corporate efforts like these genuine attempts to foster well-being, or can they instead be strategies to rebrand productivity demands?
Spiritual well-being in business
The incorporation of spirituality into the workplace represents a shift in how businesses approach leadership, employee wellbeing and corporate culture.
Take ice-cream maker Ben & Jerry’s partnership with Greyston Bakery, a leader in social enterprise. Under their “linked prosperity” model, Ben & Jerry’s sources all brownies for its Chocolate Fudge Brownie flavour from Greyston, which operates with an “open hiring” policy that does not require a background check for applicants and provides “help with child care, housing and ESL (English as a second language) classes”. The partnership shows how valuing human dignity and community empowerment can reshape conventional business practices into drivers of social change.
Spiritual integration manifests in plenty of other ways, too. Morning gatherings can become spaces for shared reflection rather than mere status updates. Dedicated quiet rooms can offer sanctuary for contemplation or prayer. Through mentorship relationships and community service initiatives, workplaces can evolve into environments where individuals can explore deeper questions about purpose. US outdoor clothing company Patagonia describes how it offers paid environmental internships and flexible policies that enable employees to align their work lives with how they see their authentic selves. These offerings reflect the idea that while people come to work to earn a living, they stay and thrive when work nourishes their spirit.
The trend of integrating spirituality into the workplace taps into the practical wisdom of spiritual traditions, honed over millennia, to foster attributes like mindfulness, compassion and interconnectedness. But despite its benefits, integration – or lip service to it – risks becoming a convenient excuse for businesses to shift the responsibility for stress and burn-out onto employees instead of addressing systemic issues.
The rise and fall of WeWork illustrates this phenomenon. As documented in both Hulu’s “WeWork: or the Making and Breaking of a $47 Billion Unicorn” and Apple TV+’s dramatic series “WeCrashed”, the workspace company masterfully leveraged spiritual rhetoric to attract young professionals. While the company promoted meditation spaces and wellness initiatives, these benefits masked issues including unsustainable work expectations, questionable management practices and a sexual assault claim. The disconnect between WeWork’s offerings and operational reality demonstrates how companies can appropriate spiritual practices only as a veneer.
When suits start talking spirit
When McKinsey & Company, a US management consulting firm that epitomizes corporate pragmatism, releases a podcast titled “Beyond 9 to 5: The power of spiritual health in the workplace”, it is clear that spirituality in business has moved beyond the fringe.
McKinsey’s global survey of 41,000 respondents, detailed in their May 2024 report “In search of self and something bigger: A spiritual health exploration”, found that spiritual health matters deeply to employees. But does this data reflect a genuine commitment to spirituality, or is it just a reflection of its currency in the corporate world?
After almost half a century of research on spirituality in business, it has become a mature field. The Academy of Management, “an association for management and organizational scholars”, recognised Management, Spirituality, and Religion as a Division, [“reflecting”] a broad range of member interests”. Still, the corporate world’s interest is raising eyebrows: the suspicion remains that spirituality is merely being repackaged as a tool for enhancing productivity. In his 2019 book “McMindfulness: How Mindfulness Became the New Capitalist Spirituality”, Ronald Purser illustrates this concern through Google’s “Search Inside Yourself” programme. While marketed as a path to employee wellness, the initiative exemplifies how meditation and mindfulness can be transformed into performance-enhancement tools, asking workers to develop “resilience” rather than addressing the root causes of workplace stress.
The whole self at work
The concept of bringing one’s “whole self” to work – a cornerstone of the Industry 5.0 concept promoted by the European Commission – emphasises employee authenticity. The idea of spirituality in the workplace intertwines with the idea of authentic self-expression, encompassing the recognition of one’s beliefs, values and quest for deeper meaning. These are dimensions historically excluded from professional settings. The idea is to create an environment where people can align their deepest motivations with their work.
While this ideal is noble in concept, it also raises complex questions about which aspects of our “whole selves” are appropriate to bring into the workplace. In 2015, the US Supreme Court ruled in favour of a job applicant whom the clothing company Abercrombie & Fitch refused to hire because her hijab conflicted with its dress code. Delta Airlines’ uniform policy revision last July illuminates the ongoing complexity of the issue. Following a controversy that began when a passenger made a social media post describing two flight attendants’ Palestinian flag pins – which were permitted under existing policy – as “Hamas badges”, the airline banned all national flag pins except US ones.
Juggling multiple selves
The promise of integrating our identities more seamlessly instead of compartmentalizing them features in the Apple TV series Severance. The show presents a dystopian take on work-life balance in which employees surgically separate their work and personal memories, inviting us to reflect on the identities we balance in our professional and personal lives. The character of Mark Scout, whose “innie” (work self) develops genuine connections with colleagues like Helly, demonstrates how even artificially separated selves seek authentic relationships and meaning. However, when these connections begin to flourish, employer Lumon Industries’ harsh punishments and control mechanisms kick in – suggesting that true workplace innovation and collaboration can only emerge when we’re allowed to bring our whole, unsevered selves to work.
By acknowledging and nurturing the various aspects of our personalities, we might attain new levels of connection in the workplace. But could the integration of spirituality and work lead to an environment where employees are perpetually “on”? A risk lies in creating a culture where work infiltrates every aspect of life, leaving no true respite. The very practices meant to nurture the spirit could paradoxically become tools that further blur the boundaries between professional obligations and personal renewal. A constant connection to work erodes personal boundaries, which can lead to stress and dissatisfaction that spills over into personal life. Addressing this “shadow side” is essential if we are to answer the question “Do you believe in life after work?” with a resounding yes.
A balanced approach
The integration of spirituality into business requires genuine commitment. While spiritual practices can bring multiple benefits, they must emerge from authentic values rather than serving as a quick fix for systemic issues.
Since the 1980s, when major corporations first explored Eastern spirituality, workplace spirituality has evolved into a $7.9 billion meditation market. But as companies invest in meditation apps and mindfulness programmes, they often fail to address the root causes of workplace stress and burn-out. Today, well-intentioned apps like CHILL Anywhere risk functioning as band-aids that place the burden of stress management on employees, instead of examining issues like unrealistic workloads, inadequate compensation, toxic leadership or prejudice.
Instrumentalizing spiritual practices into productivity tools fundamentally misses the point: true spirituality in business requires organizations to critically examine and transform the structural conditions that create employee suffering in the first place. Until companies commit to addressing these foundational issues, meditation rooms and mindfulness apps will remain superficial solutions that enable rather than challenge harmful workplace dynamics.
The future workplace should aim to harmonise profit and purpose, recognising that employee well-being is integral to long-term success. Spirituality in business manifests when organisations commit to both business excellence and human flourishing – addressing foundational concerns while nurturing deeper meaning and purpose. Only then can the promise of bringing our whole selves to work become a reality worth believing in.
Raysa Geaquinto Rocha ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’a déclaré aucune autre affiliation que son organisme de recherche.
Source: The Conversation (Au and NZ) – By Darcy Watchorn, Threatened Species Biologist, Wildlife Conservation & Science Department, Zoos Victoria, and Visiting Scholar, School of Life & Environmental Science, Deakin University
Darcy Watchorn
It’s a cold, drizzly night in a forest west of Melbourne. I’m sitting on a damp log, clutching a thermos of lukewarm tea and watching a koala snooze on a branch above me. Suddenly, it lifts its head. I sit up straight, pen poised to record what happens. But the koala simply yawns and resumes the blob position. I sigh and take another sip of tea.
Why am I doing this? To research the social behaviour of koalas and hopefully learn more about what they do at night, when they are most active.
After many nights, and many sips of tea, I witness something truly unexpected: male koalas engaging in affectionate behaviours with each other, such as play and grooming. I was shocked. Adult koalas are normally solitary, so observations such as this are exceedingly rare.
My new research paper presents these findings. It provides the most detailed account of these behaviours to date, and offers a unique glimpse into how social dynamics between koalas may change when they are forced to live in close quarters.
An adult female koala (right) and her very large joey (left) on a tree in Cape Otway, Victoria Darcy Watchorn
Why are these behaviours so surprising?
Most animals exhibit some type of social behaviour. These can include mating, vocalising to communicate, or defending their territory. But some highly social, group-living animals – such as wolves, primates and dolphins – will also display friendly and peaceful acts between individuals, such as grooming each other and playing.
These are known as “affiliative” behaviours, and they are key to social relationships between animals, and to maintaining complex social hierarchies.
Adult koalas, though, are generally solitary (except, obviously, when mating). They are usually widely spread over an area and rarely come face-to-face, instead interacting over long distances by vocalising and leaving their scent.
And when male koalas do physically interact, it is usually a violent affair. More than once, I’ve seen male koalas scratched and bloodied — missing chunks of fur and even a claw — after fighting with a rival male.
That’s why my observations of affection between young male koalas were so surprising.
What I saw after dark
Over three painstaking weeks, I studied a koala population in the woodlands of Cape Otway, southern Victoria. Each night, I went out between 9pm and 2am to track and observe the males. I used a red-light spotlight to avoid disturbing them. If I saw something interesting, I filmed it. You can watch the video below.
After two weeks, I observed three males engaging in unexpected “affiliative” behaviours. They were grooming each other, sniffing each other’s genitals and vocalising to each other in soft, high-pitched calls, similar to the sounds baby koalas make.
They also appeared to be playing. They would gently — but perhaps provocatively — bite one another on the arm and ear, a bit like cheeky puppies do.
These interactions weren’t brief, either. I watched the koalas for two hours before finally giving in to sleep. When I went back at lunchtime the next day, they were still at it.
What’s behind these affectionate behaviours?
This type of social interaction between wild koalas had only been observed once before, more than 30 years ago, in a high-density koala population on French Island off Victoria.
Like that earlier observation, the koalas I recorded were young adult males, roughly aged between three and five years. Hormonal activity can surge at this life stage, leading to an increase in social behaviours such as play and boldness.
But if the affectionate behaviours were solely the result of teenage hormones, you’d expect it to be observed more often in many koalas in this age group. But that’s not the case.
Instead, these behaviours are most likely a result of the large koala populations.
Typically, fewer than two koalas are found per hectare. At Cape Otway, there were 15 koalas per hectare. This number can reach up to 20 in parts of South Australia and Victoria.
This high density means the home ranges of koalas are more likely to overlap and their interactions will be more frequent. It also means competition for food, space and mates can be especially high.
So young males might use affectionate behaviours — such as grooming and playing — to reduce conflict and manage stress. It may help individuals become familiar with their neighbours, establish hierarchies and avoid aggressive encounters.
Genetics may also play a role. Like many high-density koala populations, this population had low genetic diversity, meaning there was a high degree of relatedness among individuals.
The causes of low genetic diversity in high-density koala populations are complex. The species was almost hunted to extinction. This meant a vastly reduced number of koalas could pass on their genes to the next generation. To make matters worse, habitat destruction can prevent koalas from dispersing over a wide area.
Koalas are listed as endangered in New South Wales, Queensland and the ACT. But high-density koala populations, such as the one I observed in Cape Otway, also present major conservation challenges.
Too many koalas feeding in an area puts pressure on preferred tree species. This can result in mass tree death, and habitat loss for koalas and other species. In some cases, koalas can starve.
Unfortunately, there are no quick and easy solutions to this issue. Moving koalas from crowded areas to places where they are endangered often isn’t possible, due to differences in climate and the unique gut bacteria koalas need for their local food trees.
Other interventions, such as fertility control, can be effective. But this takes many years of intensive effort and significant funding, making it vulnerable to budget cuts and shifting priorities.
Some experts say culling could be used to control koala numbers and conserve the surrounding habitat, as it is for kangaroos. However, this is likely to draw widespread public opposition.
These complex challenges offer an unexpected silver lining, however. As my experience shows, high-density koala populations provide unique opportunities to observe rare social behaviours in this iconic species. All you need is curiosity, a big cup of tea, and patience.
Darcy Watchorn works for Zoos Victoria, a not-for-profit zoo-based conservation organisation. He is a member of the Ecological Society of Australia, the Australian Mammal Society, and the Society for Conservation Biology.
Corrie Hermann. – Dear President of the European Parliament, dear Roberta Metsola, dear Presidents, dear Members, Commissioners, excellencies, distinguished guests, this story about one Holocaust victim is dedicated to every one of the 6 million victims whom we deplore today.
My father, Hermann Pál, was born on 27 March 1902 in Budapest, in a well-to-do family. At the time, Budapest was still the second capital of the Habsburg Empire – the era which Stefan Zweig depicts in Die Welt von Gestern. The Jewish citizenry had become gradually an integral part of the community, and joined intensively in the professional, cultural and financial life.
Hermann Pál was intelligent and musical, and was admitted, at the age of 15, as a cello student at the famous Franz Liszt Academy, established in 1875 – the cradle of many generations of top musicians from Hungary. His best friend became the violinist Székely Zoltán, who would become a worldwide-known soloist and the first violinist of the New Hungarian String Quartet. Pál developed not only as a cellist but also as a composer. His teachers were Kodály and Bartók.
Even before the formal completion of his training, he reaped his first success in a private concert at the house of Arnold Schönberg with the ‘Sonata for Cello Solo’, which Kodály had composed a few years earlier. A performance of this sonata at a concert in Switzerland, which was organised by the International Society of Contemporary Music, was the first step in his international career.
But in the meantime, the First World War had raged in Europe. The Habsburg Empire was no more. Hungary’s wings had been clipped by the Trianon Treaty, and the new leader, Admiral Horthy, was the first one to introduce antisemitic laws. The young cellist went to Berlin and changed his name from the Hungarian Hermann Pál to Paul Hermann.
In Berlin, musical life was blooming. Paul took lessons at the Staatliche Academische Hochschule für Musik. To earn a living, he became a teacher at the progressive Volksmusikschule Berlin-Neukölln and he played in all kinds of ensembles: Baroque music, the great classics – Haydn, Mozart, Beethoven – and contemporary compositions by Hindemith, Ernst Toch and, of course, Kodály and Bartók.
The tie with Zoltán Székely was to endure all his life. Zoltán had settled in the Netherlands. Together they gave concerts which were favourably reviewed in the Netherlands, Germany and England. In London they stayed often at the house of a Dutch couple, Jacob de Graaff and Louise Bachiene. De Graaff was a wealthy businessman. He and his wife were lovers of art and music, and liked to entertain young artists. They admired the two musicians so much that in 1927 they bought a Stradivarius violin for Zoltán and, in 1928, a Gagliano cello for Paul. That cello has a leading part in this story.
Louise de Graaff corresponded frequently with relations in the Netherlands, and when Paul Hermann was scheduled to play in Amsterdam, she urged her young niece, Ada Weevers, to go to the concert and meet the artist. This meeting was such a success that they became engaged and married in 1931. They settled in an apartment in a new Berlin quarter, Charlottenburg. I was born in 1932 and there are pictures of my father holding me on the balcony.
But in 1933 came bad luck. On 30 January, Hitler became Reichskanzler in Germany and a threatening atmosphere for Jewish people becomes immediately acute. Jews are fired from public functions. Paul Hermann loses his job. The little family seeks refuge with Ada’s parents in the Netherlands. In the summer holiday, they stay near the seaside and, when swimming, Ada gets caught in a vortex in the waves and nearly drowns. She inhales water, it leads to pneumonia and she dies a few months later.
Paul Hermann joins Hungarian colleagues in Brussels. Together they perform as the Gertler Quartet. They tour Belgium, France, Switzerland, Italy, Hungary. He has left me with my maternal grandparents; a younger sister of my mother takes loving care of me. Every time my father visits is delightful. The whole family adores him.
After a few years in Brussels, Paul Hermann moves to Paris and continues his international career. On 4 August 1939, I turned seven. I remember him coming, always with his cello. Only recently, I found a letter my father wrote to a friend telling me about all the difficulties he had to get permission from the French authorities to cross the border to Holland. Foreign Jews are already under suspicion.
But I only know it’s my birthday, a party. As a present, my father gives me the new French book, ‘Histoire de Babar, le petit éléphant‘, and he teaches me my first French words: ‘Babar entre dans l’ascenseur, il monte dix fois en haut et descend dix fois en bas mais le garçon lui dit “ce n’est pas un joujou, monsieur l’éléphant”‘.
But again, the atmosphere is threatening. War breaks out at the end of August. Borders are closing. All foreign visitors return hastily. That winter, Western Europe is mobilised, but the fighting is in the east. We can still correspond. But in the spring, Hitler looks toward France. The French army is preparing the defence. Paul Hermann joins a régiment de marche de volontaires étrangers to assist the French army. In June, the Germans are in Paris. Northern France, Belgium and the Netherlands are occupied and under German rule. As a schoolchild, I remember the little boards everywhere: ‘Verboden voor Joden‘.
In France, the southern region is at first not occupied. People feel relatively safe there. Hermann and his cello stay first with the de Graaff couple, who have moved from London to the region south of Bordeaux, but then he moves to a room in Toulouse. He has some pupils and can give a few recitals. Censorship makes corresponding very difficult. We get only very few letters.
Sometimes he can visit Ada’s brother, Jan Weevers, who has an agricultural business in a village about 150 km from Toulouse. This brother-in-law supports him as much as he can. But in 1942, all France is occupied. The terror of the Gestapo reigns also in Toulouse. In Budapest, Berlin, Paris, Paul Hermann has been able to flee from antisemitism. Now this is not possible anymore. He takes false papers, names himself de Cotigny and hopes for the best.
But on 21 April 1944, he is arrested in a street raid, taken to the Toulouse prison and transported to Drancy, the assembling camp near Paris, from where the transports for the concentration camps departed.
In May 1944, he is put in a wagon with 60 other men as a part of transport number 73 from Drancy. While the train is waiting at the station, he manages to write a note to his brother-in-law and throws it out of the train. A kind passenger, who probably realises this could be a last message, posts it. Miraculously, it reaches Jan Weevers. It reads:
«On nous a dit que nous allions travailler à l’Organisation Todt. Nous sommes pleins d’espoir malgré tout. Quant à mes instruments, je te prie de sauver ce que tu peux.»
There is hardly any transportation, but Jan Weevers manages to go to Toulouse, where Paul’s rooms have been sealed by the Gestapo. Spoils of war. He forces a window and exchanges the precious Gagliano cello for a cheap student’s instrument. He takes it home. Paul’s cello is saved.
Transport 73 is not put to work for the organisation Todt. It is sent all through Europe to Kaunas in Lithuania. We don’t know what happened, but only a handful of the 900 prisoners who arrived in Kaunas will return after the war.
In the Netherlands, 1944-1945 is the hardest year of the war. There is no food, no heating. The infrastructure is heavily destructed. In May 1945, the Canadians entered the city where we lived. The Nazi regime capitulates, and it is immense joy.
Only weeks later, we hear what has happened in France. Investigations by Jan Weevers have been in vain. Will Paul Hermann return? In Tony Judt’s standard book Postwar, we read about the chaos in Middle Europe: many millions of displaced persons roam in deplorable conditions through what is left of Germany. Some returned home after months or years. Many don’t. Gradually we realise Paul will never come back.
Surrounded by a beloved extended family, I grow up, go to the university to study medicine, marry, have a family. As a doctor, I work mainly in public health. And at the end of my career, I am elected in the Netherlands Parliament for the Green Party. After retirement, I am reminded of a pile of handwritten music scores which have been laying around for more than 60 years. They are old compositions of my father. He played music with his colleagues in all kinds of combinations.
The Dutch foundation Forbidden Music Regained, which focuses on the work of composers who were persecuted by the Nazis, is interested. They are greatly impressed by the quality of the music, and organise concerts and recordings. My son Paul, named after his grandfather, develops into the coordinator of this legacy and makes it accessible to musicians all over the world.
When he’s visiting cousins in Los Angeles, they introduce him to the Recovered Voices project of the Los Angeles Colburn School of Music, which is also aimed at persecuted composers. Top cellist Clive Greensmith is enthusiastic about Hermann’s music, especially about a draft for a piece for cello and orchestra. Paul has a friend, an Italian composer, Fabio Conti, who makes the draft into a complete piece for cello and orchestra using themes from other Hermann compositions. Greensmith plays the premiere in 2018, in Lviv, Ukraine.
But another staff member in Los Angeles, Carla Shapreau, says: ‘Yes, this is the music. But where is that Gagliano cello?’ In 1953, Jan Weevers took the cello to the Netherlands. It has been sold to finance my studies, but we don’t know who bought it.
Carla enlists the help of Oxford-based biography writer Kate Kennedy, who is working on a book about the duality of cellists and their cellos. Kate also gets under the spell of the Hermann story, and she looks for the cello literally all over the world – asking cellists, luthiers, instrument dealers, music schools, browsing through auction catalogues. Who knows the whereabouts of a Gagliano cello made in 1730 with the text ‘Ego sum anima musicae’ – I am the soul of music – on the side? But Kate does not find it. The publication date of her book nears; she feels defeated.
The book Cello is published. Cellists everywhere read it. And then Kate gets a mail from a Chinese cello professor, Jian Wang, acting as jury member for the Concours Reine Elisabeth here in Brussels in 2022. He has noticed a cello. It is in the possession of the Robert Schumann Musik Hochschule in Düsseldorf, and only their best students are permitted to play it. At a presentation of Kate’s book Cello in the Wigmore Hall in London, where my father performed 100 years ago, Australian Sam Lucas plays, on Paul Hermann’s cello, one of his compositions.
Between 1920 and 1940, Paul Hermann played the same cello in all Western and Central Europe. Searching for this icon of European culture has connected people from all over the world: from Europe to Los Angeles to China to Australia. And its amazing story has captured interest everywhere.
For me, this is a reunion in spirit with the father whom I have missed for 85 years.
Hitler has burned books, destroyed paintings and buildings, murdered millions of people. But music is invincible.
Ego sum anima musicae. Freude, schöner Götterfunken. Alle Menschen werden Brüder.
Justice, Equalities, Social Justice and Human Rights spokesperson
More in Peace
A memorial is an act of remembrance, and today we remember in two senses.
We remember who it was who bore this unutterable pain, each individual and precious human being, those now lost to the world and those who remain with us.
We remember them with love, with sorrow and with anger, reiterating the humanity that their oppressors tried so hard to deny.
And we remember how it happened, and for us as politicians and parliamentarians, that is perhaps a harder memory. For the Holocaust was not an act of insurgency, a violation of domestic law and order. It came about not in spite of political processes: elections, legislation, policy implementation, but through and because of them.
There were some bystanders who knew exactly what was going on. There were others who knew nothing. But in between, across Europe and beyond, was a wide spectrum of simultaneous knowledge and ignorance, of eyes that were closed, faces turned away. Reassurance that rhetoric was only that, that genocidal intent was the expression of legitimate concern, that there was no need to open doors or hearts, that reality was still represented by the diplomacy of gentlemen.
And the bodies of children lay uncovered.
We have learned the story of this deep, deep horror, but have we learned to recognise its narrative when it comes again, with different clothes, different names, different labels?
When the richest man in the world salutes the most powerful man in the world with a gesture that specifically recalls that older story, do we shrug and move on?
When that most powerful man uses the language of cleaning about the dispossession of already dispossessed people, already bereft of their children, do we pretend not to have heard?
Hannah Arendt wrote, in the context of the Holocaust, about the banality of evil. For evil can be banal, can be ridiculous, can come with buffoonery and bluster, without subtlety or nuance. But when it announces itself, we would do well to listen.
And we can listen, as well, to the voices of those with experience, those for whom that experience illuminates the realities of today. Suzanne Berliner Weiss writes:
I am a survivor of the Jewish Holocaust, and understand the system of hate first hand. Hitler’s war against the Jews aimed to eradicate our history and the Jewish people. Nazism Is hatred of the other – it is racism…
Judaism, the religion and its traditions, does not stand for racism.
Conflating Zionism and Judaism is an unforgivable crime against the Jewish people, a crime against the Palestinians, and a crime to humanity.
I was saved from Hitler by world solidarity. I was among the thousands of Jewish children in France who were saved by the solidarity of the Jewish resistance, communities of Christians in Southern France, and the peoples of the world united against Nazism….
To be against Israel’s policies is not anti-Jewish. It is not anti-Semitic. We claim the Palestinians as our sisters and brothers. We are all humanity.
We say: “Not in our name!”
For the victims of the Holocaust, the world closed its eyes, its hearts and its doors until it was too late. Today we remember and honour them, with respect, with love and with bitter regret. Let us not close our eyes, our hearts, our doors in the face of genocide and oppression happening today in Palestine.
Source: United Nations General Assembly and Security Council
United Nations Secretary-General António Guterres announced today the appointment of Lieutenant General Ulisses de Mesquita Gomes of Brazil as Force Commander of the United Nations Organization Stabilization Mission in the Democratic Republic of the Congo (MONUSCO).
Lieutenant General Gomes succeeds Acting Force Commander Major General Khar Diouf of Senegal, to whom the Secretary-General is grateful for his dedication and service.
Lieutenant General Gomes brings to the position 35 years of experience in crisis response, conflict management and peacekeeping. He has both operational and strategic expertise as well as diplomatic experience. His last position was with his national military, where he served as Deputy Chief of Army Logistics Command. Prior to that, he was the Brazilian Military Attaché to the United States of America.
He previously served as the 7th Infantry Brigade Commander in Brazil, the Defence Adviser of the Minister of Strategic Affairs of the Brazilian Government and the Chief of Planning and Operations of the 11th Infantry Brigade. His international experience includes his deployment with the United Nations Stabilization Mission in Haiti (MINUSTAH) (2008-2009) and his appointment as the Chief of the Current Military Operations Service and Policy & Doctrine Team in the Office of Military Affairs of the UN Department of Peace Operations (2017-2019).
Lieutenant General Gomes holds a bachelor’s degree in law from the Federal University, Brazil, and a master’s degree in military science and law from the Brazilian Army Staff College. He is fluent in English, French, Portuguese and Spanish.
€994.6 million in total revenue for 2024, down -5.9%, reflecting the Group’s strategic orientations
Prioritizing margins over revenue growth
Managed decrease in the most mature markets
Focus on the Group’s profitable growth drivers, primarily in Germany and in Energy activities
Q4: €251.8 million in revenue, down -12.4%
Q4 2023 comparison basis particularly high
Impact of selectivity measures implemented in Q2 in the telecom sector in France and Spain
Fiber activity in Belgium remains low as negotiations continue between telco service providers seeking to pool their investments.
Strong growth in Germany, the group’s future third pillar: +51%
Strong growth in Energy activities: +30%
2024 full-year margin outlook confirmed
Improvement of the Group’s adjusted EBITDA margin
Increase in adjusted EBITDA despite the revenue decline, demonstrating the relevance of the Group’s reinforced selectivity strategy
12 months
Q4
In millions of euros (unaudited)
2024
2023
% change
2024
2023
% change
Group
994.6
1,057.0
-5.9%
251.8
287.3
-12.4%
Benelux
371.6
381.6
-2.6%
92.7
112.0
-17.2%
France
360.6
403.3
-10.6%
90.5
105.6
-14.3%
Other Countries
262.4
272.1
-3.6%
68.6
69.7
-1.6%
Gianbeppi Fortis, Chief Executive Officer of Solutions30, stated: “As previously announced, Solutions30’s 2024 revenue trends reflect the Group’s strategic priorities, with a stronger focus on margins over revenue growth in a mixed market environment. In the fourth quarter, we continued to selectively scale back our revenue in our most mature segments, particularly in telecoms in France and Spain, in order to enhance operating margins.Meanwhile, fiber activity in Belgium remained temporarily subdued due to ongoing negotiations between service providers. At the same time, our key growth drivers – primarily Germany and energy transition-related services – continued to expand. Notably, energy services now represent nearly 20% of our fourth-quarter revenue. We confirm our objective of increasing the Group’s adjusted EBITDA for the full year 2024, despite the revenue decrease. This demonstrates our ability to significantly improve operating margins and highlights the effectiveness of our selectivity strategy in the market environment we faced in 2024.”
Consolidated revenue
In 2024, Solutions30’s consolidated revenue stood at €994.6 million, down -5.9% compared to 2023. This includes an organic contraction of -6.5%, a +0.2% impact from acquisitions, and a +0.4% favorable exchange rate effect.
It also reflects the Group’s strategic objectives, as outlined during the Capital Markets Day on September 26, 2024, in a context where Solutions30 operates across markets and business segments at different stages of maturity. The Group has chosen to increasingly prioritize margins over revenue growth, leading to a scaling down in the French and Spanish telecom sectors, where certain contracts no longer met profitability requirements. At the same time, Solutions30 is accelerating the expansion of its profitable growth drivers in Germany and in the energy sector.
Q4 consolidated revenue stood at €251.8 million, down -12.4% (-12.9% organically) compared to Q4 2023, which represented a particularly high basis for comparison (€287.3 million). Trends in Q4 remained in line with those observed in Q3, with: (i) the impact of selectivity measures implemented in Q2 in the French and Spanish telecom sectors, (ii) continued low levels of activity in Benelux, largely due to ongoing negotiations between Belgian service providers seeking to pool their fiber roll-out investments, and (iii) continued strong momentum in the Group’s key growth drivers: Germany, where fiber deployments are accelerating rapidly, and Energy services, a business the Group is successfully expanding.
Benelux
2024 Q4 revenue in Benelux stood at €92.7 million, down -17.2% (-17.6% organically) from a particularly high comparison basis (+61% in Q4 of 2023). Connectivity activities posted revenue of €67.3 million in Q4, down -26%. In Belgium, fiber optic deployment remained hindered by ongoing negotiations between telecom service providers seeking to streamline nationwide deployment. These negotiations continued to cause delays in activity for Solutions30, with the impact further amplified in Q4 by the merger of two of its local clients, Proximus and Fiberklaar, which led to discussions on adapting operational processes.
Revenue from Energy activities reached €16.4 million in Q4, posting a modest 1.8% increase. While the roll-out of smart meters in Flanders has reached a plateau, further roll-outs in Wallonia and growth in network services are expected to drive momentum in the coming quarters. Meanwhile, Energy services in the Netherlands have slowed down due to electrical grid congestion, which is expected to prompt additional infrastructure investments.
Technology Solutions remained strong, generating €9.0 million in revenue, up +67%, driven by the launch of a new IT support contract.
2024 annual revenue in Benelux reached €371.6 million, down slightly by -2.6% (-2.8% organically), after extremely strong growth (+72%) in 2023.
France
In France, 2024 Q4 revenue was €90.5 million, down -14.3% on an organic basis. This decrease is primarily attributable to Connectivity activities, which contracted by -38.2% to €45.2 million, following the selectivity measures implemented since the second quarter. As part of its strategic focus on profitability, the Group has significantly reduced its exposure to certain contracts that no longer met its profitability standards, with the impact further amplified by the slowdown in the fiber deployment market observed since the beginning of the year.
The Group continues to successfully expand its Energy business, which posted strong growth of +54% in the fourth quarter, reaching €26.0 million in revenue, or 29% of the total. Supported by highly favorable structural trends, this segment is gradually establishing itself as a major growth driver for Solutions30, particularly in the photovoltaic sector, where the Group is achieving significant commercial and operational successes, recording a +72% increase in the fourth quarter. Momentum also remains strong in energy network services, which grew by +61% over the period.
Technology activities sustain a strong momentum, generating €19.3 million in revenue in Q4, up +24%. Following an exceptional surge in business during the 2024 Paris Olympics in Q2, IT support services continued to grow strongly, driven by the expansion of Internet of Things solutions, particularly the installation of smart thermostats.
Annual revenue for France in 2024 stood at €360.6 million, down -10.6%, including a -11% organic contraction and a +0.4% contribution from recent acquisitions.
Other Countries
In Other countries, the group generated €68.6 million in revenue in Q4 2024, down slightly by -1.6%. This includes an organic decline of -3.4% and a positive currency impact of +1.8%, reflecting the appreciation of the zloty and pound sterling against the euro during this period.
In Germany, Solutions30 is capitalizing on exceptional market momentum, with 2024 Q4 revenue increasing by +51.3% to €24.6 million. Coaxial network services remain strong while fiber growth is picking up speed. Firmly established with the leading national telecom operators, the Group has the organization, expertise, and resources required to play a key role in accelerating roll-outs in the coming quarters.
Solutions30 has continued to grow in Poland, with +6.4% revenue growth in Q4, reaching €15.1 million. While it has, until now, focused on Connectivity activities in this country, the Group recently won two electric vehicle charging infrastructure contracts with two major players, Ekoenergetyka and Inbalance Grid (see press release dated January 8, 2025).
In Italy, Q4 revenue totaled €14.5 million. Business has returned to growth, posting a +6.2% increase over the period. However, this growth is offset by the positive impact of 2023 negotiations with the Group’s main Italian client, which was fully accounted for in Q4 2023, despite covering the entire fiscal year. This distorts the comparison, resulting in an apparent -10.6% decline in Q4 2024.
In Spain, revenue amounted to €7.3 million, down -44.1% due to steps taken in Q2 to reduce the Group’s exposure to the mature telecoms market. The restructuring of the Connectivity business and the refocus on the Energy and Technology activities are ongoing.
Finally, In the United Kingdom, revenue came in at €7.2 million, down -28.4% compared to Q4 2023. The Group continues to shift its focus toward the fiber and energy services markets, driven by a newly appointed local management team.
In 2024, annual revenue for Other Countries was €262.4 million, down -3.6%, including a -5.0% organic contraction and a positive exchange rate effect of +1.4%.
2024 full-year margin outlook confirmed
For the whole of 2024, Solutions30 confirms its outlook for an improvement in its adjusted EBITDA margin, as well as an increase in adjusted EBITDA in absolute terms, despite the decline in revenue. This demonstrates the effectiveness of the selectivity strategy implemented by the Group in 2024.
Governance
Today the Supervisory Board appointed Mrs. Paola Bruno as Vice Chair of the Supervisory Board. A valued member of the Supervisory Board since 2023, Paola Bruno will continue to bring her extensive experience in corporate finance and strategy to this leadership role and to Solutions30 organization as a whole.
Webcast for Investors and Analysts Date: Wednesday, January 29, 2025 6:30 PM (CET) – 5:30 PM (GMT)
Speakers Gianbeppi Fortis, Chief Executive Officer Amaury Boilot, Group General Secretary
Connection Details Webcast in French: https://channel.royalcast.com/landingpage/solutions30-fr/20250129_1/
Upcoming Events
2024 Earnings Report March 31, 2025
About Solutions30 SE
Solutions30 provides consumers and businesses with access to the key technological advancements that are shaping our everyday lives, especially those driving the digital transformation and energy transition. With its network of more than 16,000 technicians, Solutions30 has completed over 65 million call-outs since its inception and led over 500 renewable energy projects with a combined maximum output surpassing 1600 MWp. Every day, Solutions30 is doing its part to build a more connected and sustainable world. Solutions30 has become an industry leader in Europe with operations in 10 countries: France, Italy, Germany, the Netherlands, Belgium, Luxembourg, Spain, Portugal, the United Kingdom, and Poland. The capital of Solutions30 SE consists of 107,127,984 shares, equal to the number of theoretical votes that can be exercised. Solutions30 SE is listed on the Euronext Paris exchange (ISIN FR0013379484- code S30). Indices : CAC Mid & Small | CAC Small | CAC Technology | Euro Stoxx Total Market Technology | Euronext Tech Croissance. Visit our website for more information: www.solutions30.com.
Source: United Kingdom – Executive Government & Departments
First Independent International AI Safety Report to become the global handbook on AI safety, ahead of the France AI Action Summit.
First Independent International AI Safety Report to become the global handbook on AI safety, ahead of the France AI Action Summit
Inspired by the UN’s IPCC Report, the publication sets a new standard for scientific rigor in assessing AI safety
Brings together input from 100 world-leading AI experts put forward by 30 countries including France, China, the USA and UK, as well as the UN, EU, and OECD
Spearheaded by Yoshua Bengio – a Turing Award-winning AI academic and the most cited computer scientist in the world – the report brings together insights from 100 independent international experts. Launched at the AI Safety Summit in November 2023, the report is mandated by more than 30 countries including France, China and the United States, with operational support provided by the Department for Science, Innovation, and Technology.
As policymakers worldwide grapple with rapid and unpredictable advancements in AI, today’s report contributes to bridging the gap by offering a scientific understanding of emerging risks to guide decision making.
The report also highlights how quickly the technology has evolved in recent years and months, including how AI systems are increasingly capable of acting as AI agents – autonomously planning and carrying out complex tasks.
Its publication looks to plug the gaps by building up a scientific basis of evidence to support policymakers in advancing AI safety, while the full implications of advanced AI systems are still being discovered.
Report’s Chair, Yoshua Bengio, Full Professor at Université de Montréal and Scientific Director of Mila – Quebec AI Institute, said:
The capabilities of general-purpose AI have increased rapidly in recent years and months. While this holds great potential for society, AI also presents significant risks that must be carefully managed by governments worldwide.
This report by independent experts aims to facilitate constructive and evidence-based discussion around these risks and serves as a common basis for policymakers around the world to understand general-purpose AI capabilities, risks and possible mitigations.
Key areas identified for further research include how rapidly capabilities will advance, how general-purpose AI models work internally, and how they can be designed to behave reliably.
While there are still many challenges in mitigating the risks of general-purpose AI, the report highlights promising areas for future research and concludes that progress can be made. The report emphasises widespread agreement that improving our understanding of how AI works should be a top priority, as international governments and AI companies prepare to gather for the AI Action Summit.
Ultimately, the report emphasises that while AI capabilities could advance at varying speeds, their development and potential risks are not a foregone conclusion. The Report concludes by saying that the outcomes depend on the choices made by policymakers both today and in the future.
Secretary of State for Science, Innovation, and Technology, Peter Kyle said:
The transformative potential of AI is clear, which is why we have placed it at the heart of our government’s Plan for Change. It will help us kickstart economic growth, transform public services, and boost the living standards of working people across the country, but I remain clear eyed that safety must be baked in from the outset.
The UK is already at the forefront of building the global consensus needed on responsible AI, and this report will go a step further as we prepare for the AI Action Summit. It will support decision-makers with the scientific evidence they need to seize the opportunities of AI, which is a charge we are already leading by putting the technology to work to deliver more jobs, more money in people’s pockets, and transformed public services.
French Minister Delegate for Artificial Intelligence and Digital Technologies, Clara Chappaz said:
Artificial intelligence is a central topic of our time, and its safety is a crucial foundation for building trust and fostering adoption. Scientific research must remain the fundamental pillar guiding these efforts. I salute the work of Yoshua Bengio and the international team who produced this report, work which must be perpetuated in the long term in the general interest.
This first comprehensive scientific assessment provides the evidence base needed for societies and governments to shape AI’s future direction responsibly. These insights will inform crucial discussions at the upcoming AI Action Summit in Paris.
Notes to editors
The UK government will continue to provide the Secretariat for the report until a suitable long-term international home is agreed, and Professor Yoshua Bengio will continue acting as chair for 2025. This will be informed by ongoing global dialogues on AI governance, including those within the UN Global Digital Compact, the Network of AI Safety Institutes, and other forums, along with ongoing stakeholder consultations.
Source: The Conversation – USA – By Gabrielle Clark, Assistant Professor of Political Science and Public Law, California State University, Los Angeles
Jimmy Carter shakes riders’ hands in a Mexican American parade while campaigning in Southern California in 1976.AP Photo
President Donald Trump promised during his three presidential campaigns to deport as many immigrants living in the U.S. without legal authorization as possible.
His second administration got underway less than one month after former President Jimmy Carter died in December 2024. This sequence of events brings to mind, for me – a public law scholar who studies the historical role of foreign workers in the U.S. – the legacy of Carter’s immigration policy and its stark contrast with Trump’s agenda.
Carter left several lasting markers on immigration policy. Among them was that he reformed the H-2 visa, a permit that allows foreigners to legally and temporarily work in the United States for one employer for one year. He did so by striking a new balance between satisfying the needs of employers and protecting American workers from foreign labor competition.
Trump, by contrast, intends to undertake mass deportations. He has stated that his administration will remove millions of immigrants living in the U.S. without legal authorization.
I’m writing a book about the long-standing conflict between employers and workers over allowing foreigners to legally work in the U.S. Despite Trump’s anti-immigration agenda, I won’t be surprised if Republicans follow in Carter’s footsteps by making it easier for more low-wage migrants to get short-term authorization to hold U.S. jobs.
Replacing the Bracero Program
When Carter became president in January 1977, 13 years had passed since the end of the Bracero Program, which let Mexican men legally get short-term jobs on U.S. farms. Demand for that labor persisted after the Bracero program ended, so large farms hired Mexican immigrants living in the U.S. illegally instead.
The AFL-CIO, an umbrella group that most U.S. unions belong to, and the United Farm Workers, a labor union, pressured the Carter administration for immigration enforcement. They were engaged in heated organization campaigns in the fields and wanted to reduce competition from foreign workers.
Carter, a former peanut farmer and a pragmatist, had the Immigration Naturalization Service authorize 5,000 new H-2 foreign labor visas in June 1977. Over 800 of the visas went to onion, melon, pepper and cotton farms in south Texas.
Congress had created the H-2 guest worker visa in 1952 on behalf of owners of large farms and other employers who wanted a path around immigration restrictions and access to a seasonal labor force. In 1965, however, President Lyndon B. Johnson’s secretary of labor, W. Willard Wirtz, had limited H-2 certifications to Florida sugar farms and East Coast fruit orchards.
Carter saw things differently than Johnson and Wirtz.
“I believe it is possible to structure this program so that it responds to the legitimate needs of both employees, by protecting domestic employment opportunities, and of employers, by providing a needed workforce,” he told Congress on Aug. 4, 1977.
Mexican migrant workers, employed under the Bracero Program to harvest crops on California farms, are shown working in a field in 1964. AP Photo
For employers, they were a boon: For the first time, agricultural employers were entitled to hire foreign workers under the law.
The secretary of labor could no longer eliminate whole crop areas from the program, as Wirtz had done. The reasoning behind the change was simple: The Carter administration wanted to help farms switch from workers living in the U.S. without legal authorization to migrants holding H-2 visas.
Yet, the Carter administration also expanded protections for migrant farmworkers. Their employers now needed to offer them higher wages and better working conditions. The regulations also mandated that employers seeking authority to use the H-2 program try harder to recruit Americans.
United Farm Workers President Cesar Chavez, seen here at a rally in 1985, played a key role in immigration reform efforts over several decades. Bettmann/Getty Images
Carter and the immigration Reform and Control Act
In 1986, Congress passed the Immigration Reform and Control Act. While that immigration reform law is best known for providing immigrants living in the U.S. without legal authorization a path to citizenship, it also split the H-2 visa program into two parts. From then on, foreign workers could obtain an H-2A visa for agriculture work or an H-2B visa for other kinds of jobs.
The new law kept Carter’s employer obligations in place for H-2As. The AFL-CIO and several civil rights organizations had objected to guest workers having to depend on their employer for their immigration status, which could make them more vulnerable to exploitation.
President Ronald Reagan prepares to sign a landmark immigration reform bill in 1986. Behind him were members of Congress and Vice President George H.W. Bush. Bettmann/Getty Images
Reforming immigration policies vs. mass deportations
The population of foreign laborers working on U.S. farms with H-2A visas soared from around 26,000 in 1989 to more than 340,000 in 2023. Because the number of H-2A visas the government can issue is unlimited, this arrangement has become an alternative to employing workers living in the U.S. without legal authorization.
The number of foreign workers with H-2B visas is much smaller.
This is because Congress limited the number of people who could get them to 66,000 per year in 1990 as a way to limit competition for American workers seeking or holding down low-wage jobs. In 2017, Congress gave the president the authority to double the maximum number of H-2B visas.
As Trump’s deportations get underway in 2025, I believe that the maximum number of H-2B visas available is likely to become a point of contention among Republicans as Trump and many GOP members of Congress face Carter’s dilemma.
Many Americans, perhaps a majority, want immigration laws enforced. But employers will continue to demand low-wage labor for jobs that U.S. citizens may be reluctant or unwilling to do.
Maintaining a compromise
This time, the mismatch between the government’s efforts to deport foreigners living in the U.S. without authorization and employers’ desires for low-cost labor will be greatest outside of agriculture: 69% of those workers without papers today are employed in construction, food services and other parts of the hospitality industry.
In my view, guest worker visas, like the H-2A and H-2B, are never ideal. They can displace American workers and make migrants vulnerable to exploitation by their employers.
However, the U.S. is likely to continue to expand employer access to the visas because they provide an alternative to foreign workers seeking to get jobs in the U.S. without authorization. In this way, Trump’s presidency may end up having something in common with Carter’s time in the White House.
Gabrielle Clark receives funding from the National Endowment of Humanities for her immigration research.
Source: The Conversation – USA – By Timothy Gabrielli, Gudorf Chair in Catholic Intellectual Traditions, University of Dayton
A cardinal opens the Holy Door of the Santa Maria Maggiore Basilica in Rome on Jan. 1, 2025, one of the events starting the Jubilee year.AP Photo/Andrew Medichini
Pope Francis has proclaimed a Jubilee year in the Catholic Church, which began on Dec. 24, 2024, and will continue through Jan. 6, 2026. But what is a Jubilee, and what is this year’s about?
Biblical roots
The Hebrew Bible, which Christians call the Old Testament, offers instructions about celebrating a Jubilee every 50 years. The Jubilee has roots in the Jewish practice of Sabbath rest every seven days, connected to the creation story in which God created the world in six days and rested on the next.
This rest is not merely about “taking a break,” but orienting life to what is most important. The prohibition of work on the Sabbath prompts people to look beyond productive work, helping them to see all activity in light of the eternal.
The biblical books of Leviticus and Deuteronomy outline what’s called a “sabbatical year,” extending that practice of periodic rest to every seventh year. During that sabbatical, the texts call for forgiving debts and freeing enslaved people. Even the land is supposed to get rest, since farmers are told to let their fields lie fallow – a check against unfettered, and destructive, desires for productivity.
The Jubilee extends this logic. Held every 50 years, the Holy Year follows a Sabbath of Sabbaths, “seven times seven years.” During the Jubilee, the Book of Leviticus instructs, “you shall proclaim liberty throughout the land to all its inhabitants.” Again, even the land must be freed. Each plot bought and sold over the previous 49 years must be returned to the tribe with which it was originally associated.
Like all the other forms of Sabbath rest, the overriding emphasis is that everyone and everything belongs to God: that the Earth is not simply for humans to do with as they please, especially if it creates injustice. People inhabit the Earth like wayfarers. Indeed, the Bible regularly reminds the Israelites that they were once enslaved in Egypt and, once freed, were wanderers.
Medieval traditions
Scholars are not quite sure if and how Jubilees were actually put into practice in the ancient world, though they are referred to in the New Testament. In the Gospel of Luke, Jesus sums up his mission with verses about the Jubilee from the Book of Isaiah: “He has sent me to proclaim freedom for the prisoners and recovery of sight for the blind, to set the oppressed free, to proclaim the year of the Lord’s favor.”
Some of the practices of the church’s modern Jubilees, however, come from the late Middle Ages, a time when Christian grassroots efforts promoted pilgrimages to Rome. As much political as religious and recreational, these pilgrimages demonstrated to power-hungry monarchs that the eternal city was beyond royal control and, by implication, that pilgrims’ identity was more than subjects of a crown.
In 1300, Pope Boniface VIII endorsed these initiatives by instituting a 13th centennial celebration of Christ’s birth. Central to the celebration were pilgrimages to Roman basilicas. Boniface promised that pilgrims could receive an “indulgence”: reparation for their sins.
A fresco in the Archbasilica of St. John Lateran, depicting Pope Boniface VIII proclaiming the Jubilee in 1300. Sailko/Wikimedia Commons, CC BY
Often misunderstood, an indulgence is distinct from forgiveness. The Catholic tradition teaches that people who sincerely repent of their sins are forgiven and reconciled to God. Ordinarily, this happens through rites such as the Sacrament of Reconciliation, which involves confession to a priest.
Once a sin is forgiven, however, reparation remains. Suppose you’ve thrown a ball through a neighbor’s window. Even if they forgive you, you’re still responsible for the window’s repair. In other words, there’s still a consequence for your action.
Catholics believe that indulgences remit the repair, removing the temporal punishment. In the analogy, you might not have fixed the window, but instead you completed another holy and satisfactory act in its place. Indulgences can be granted to Catholics for actions like completing specific prayers, making a pilgrimage or performing acts of charity.
Boniface’s decree included no reference to the biblical Jubilee. Over time, however, the link between the biblical Jubilee and these Roman celebrations was articulated and strengthened. The intervening time between Jubilees was reduced to 50 years to resonate with the ancient text. Eventually, Jubilees came to be inaugurated every 25 years to increase the opportunity for participation.
As they developed, Jubilee celebrations kept their link to pilgrimages and reparation. Both are meant to be reminders that human beings are made for the eternal, not merely the productive.
The Catholic Church’s last ordinary Jubilee celebration, which took place in 2000, was deemed a “Great Jubilee” by then-Pope John Paul II, commemorating two millennia since the birth of Christ. Famously, during a Mass that year, he sought forgiveness of the church for atrocities committed across its history, including injustice toward Jews, Indigenous peoples and women, among others.
The 2000 Jubilee continued the practice of indulgences for making a pilgrimage, emphasizing that “a pilgrimage evokes the believer’s personal journey” of faith, following in Christ’s footsteps.
Catholics in Mexico City take part in a ceremony marking the beginning of the Jubilee year at the Metropolitan Cathedral on Dec. 29, 2024. AP Photo/Ginnette Riquelme
In addition to the typical emphases on pilgrimage and indulgences, Francis has identified hope as a particular focus for this Jubilee year. In Christian theology, hope is not optimism. It is an insistence to seek the good, anchored in God: to see difficulties clearly, yet to pursue action rather than despair.
Thus, Francis has called for several specific acts of hope throughout the Jubilee year. The papal bull proclaiming the Jubilee urges peacemaking, a spirit of welcome toward migrants, and openness toward having children. Francis also issues a call for affluent nations to forgive debts, and a general call for both repentance and mercy.
Jubilees ask people to reorient life toward the eternal – a theme that might seem to minimize attention to the specific social ills of our moment. In tune with the long tradition of Jubilees, however, Francis emphasizes that the more people see the world as God sees it, the more people will act against injustice.
Timothy Gabrielli does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Assistant professor Frank Cackowski, left, and researcher Steven Zielske at Wayne State University in Detroit became suspicious of a paper on cancer research that was eventually retracted.Amy Sacka, CC BY-ND
Over the past decade, furtive commercial entities around the world have industrialized the production, sale and dissemination of bogus scholarly research, undermining the literature that everyone from doctors to engineers rely on to make decisions about human lives.
It is exceedingly difficult to get a handle on exactly how big the problem is. Around 55,000 scholarly papers have been retracted to date, for a variety of reasons, but scientists and companies who screen the scientific literature for telltale signs of fraud estimate that there are many more fake papers circulating – possibly as many as several hundred thousand. This fake research can confound legitimate researchers who must wade through dense equations, evidence, images and methodologies only to find that they were made up.
Even when the bogus papers are spotted – usually by amateur sleuths on their own time – academic journals are often slow to retract the papers, allowing the articles to taint what many consider sacrosanct: the vast global library of scholarly work that introduces new ideas, reviews other research and discusses findings.
These fake papers are slowing down research that has helped millions of people with lifesaving medicine and therapies from cancer to COVID-19. Analysts’ data shows that fields related to cancer and medicine are particularly hard hit, while areas like philosophy and art are less affected. Some scientists have abandoned their life’s work because they cannot keep pace given the number of fake papers they must bat down.
The problem reflects a worldwide commodification of science. Universities, and their research funders, have long used regular publication in academic journals as requirements for promotions and job security, spawning the mantra “publish or perish.”
But now, fraudsters have infiltrated the academic publishing industry to prioritize profits over scholarship. Equipped with technological prowess, agility and vast networks of corrupt researchers, they are churning out papers on everything from obscure genes to artificial intelligence in medicine.
These papers are absorbed into the worldwide library of research faster than they can be weeded out. About 119,000 scholarly journal articles and conference papers are published globally every week, or more than 6 million a year. Publishers estimate that, at most journals, about 2% of the papers submitted – but not necessarily published – are likely fake, although this number can be much higher at some publications.
While no country is immune to this practice, it is particularly pronounced in emerging economies where resources to do bona fide science are limited – and where governments, eager to compete on a global scale, push particularly strong “publish or perish” incentives.
As a result, there is a bustling online underground economy for all things scholarly publishing. Authorship, citations, even academic journal editors, are up for sale. This fraud is so prevalent that it has its own name: paper mills, a phrase that harks back to “term-paper mills”, where students cheat by getting someone else to write a class paper for them.
The impact on publishers is profound. In high-profile cases, fake articles can hurt a journal’s bottom line. Important scientific indexes – databases of academic publications that many researchers rely on to do their work – may delist journals that publish too many compromised papers. There is growing criticism that legitimate publishers could do more to track and blacklist journals and authors who regularly publish fake papers that are sometimes little more than artificial intelligence-generated phrases strung together.
To better understand the scope, ramifications and potential solutions of this metastasizing assault on science, we – a contributing editor at Retraction Watch, a website that reports on retractions of scientific papers and related topics, and two computer scientists at France’s Université Toulouse III–Paul Sabatier and Université Grenoble Alpes who specialize in detecting bogus publications – spent six months investigating paper mills.
This included, by some of us at different times, trawling websites and social media posts, interviewing publishers, editors, research-integrity experts, scientists, doctors, sociologists and scientific sleuths engaged in the Sisyphean task of cleaning up the literature. It also involved, by some of us, screening scientific articles looking for signs of fakery.
What emerged is a deep-rooted crisis that has many researchers and policymakers calling for a new way for universities and many governments to evaluate and reward academics and health professionals across the globe.
Just as highly biased websites dressed up to look like objective reporting are gnawing away at evidence-based journalism and threatening elections, fake science is grinding down the knowledge base on which modern society rests.
As part of our work detecting these bogus publications, co-author Guillaume Cabanac developed the Problematic Paper Screener, which filters 130 million new and old scholarly papers every week looking for nine types of clues that a paper might be fake or contain errors. A key clue is a tortured phrase – an awkward wording generated by software that replaces common scientific terms with synonyms to avoid direct plagiarism from a legitimate paper.
Frank Cackowski at Detroit’s Wayne State University was confused.
The oncologist was studying a sequence of chemical reactions in cells to see if they could be a target for drugs against prostate cancer. A paper from 2018 from 2018 in the American Journal of Cancer Research piqued his interest when he read that a little-known molecule called SNHG1 might interact with the chemical reactions he was exploring. He and fellow Wayne State researcher Steven Zielske began a series of experiments to learn more about the link. Surprisingly, they found there wasn’t a link.
Meanwhile, Zielske had grown suspicious of the paper. Two graphs showing results for different cell lines were identical, he noticed, which “would be like pouring water into two glasses with your eyes closed and the levels coming out exactly the same.” Another graph and a table in the article also inexplicably contained identical data.
Zielske described his misgivings in an anonymous post in 2020 at PubPeer, an online forum where many scientists report potential research misconduct, and also contacted the journal’s editor. Shortly thereafter, the journal pulled the paper, citing “falsified materials and/or data.”
“Science is hard enough as it is if people are actually being genuine and trying to do real work,” says Cackowski, who also works at the Karmanos Cancer Institute in Michigan. “And it’s just really frustrating to waste your time based on somebody’s fraudulent publications.”
Wayne State scientists Frank Cackowski and Steven Zielske carried out experiments based on a paper they later found to contain false data. Amy Sacka, CC BY-ND
He worries that the bogus publications are slowing down “legitimate research that down the road is going to impact patient care and drug development.”
The two researchers eventually found that SNHG1 did appear to play a part in prostate cancer, though not in the way the suspect paper suggested. But it was a tough topic to study. Zielske combed through all the studies on SNHG1 and cancer – some 150 papers, nearly all from Chinese hospitals – and concluded that “a majority” of them looked fake. Some reported using experimental reagents known as primers that were “just gibberish,” for instance, or targeted a different gene than what the study said, according to Zielske. He contacted several of the journals, he said, but received little response. “I just stopped following up.”
The many questionable articles also made it harder to get funding, Zielske said. The first time he submitted a grant application to study SNHG1, it was rejected, with one reviewer saying “the field was crowded,” Zielske recalled. The following year, he explained in his application how most of the literature likely came from paper mills. He got the grant.
Today, Zielske said, he approaches new research differently than he used to: “You can’t just read an abstract and have any faith in it. I kind of assume everything’s wrong.”
Legitimate academic journals evaluate papers before they are published by having other researchers in the field carefully read them over. This peer review process is designed to stop flawed research from being disseminated, but is far from perfect.
Reviewers volunteer their time, typically assume research is real and so don’t look for signs of fraud. And some publishers may try to pick reviewers they deem more likely to accept papers, because rejecting a manuscript can mean losing out on thousands of dollars in publication fees.
“Even good, honest reviewers have become apathetic” because of “the volume of poor research coming through the system,” said Adam Day, who directs Clear Skies, a company in London that develops data-based methods to help spot falsified papers and academic journals. “Any editor can recount seeing reports where it’s obvious the reviewer hasn’t read the paper.”
With AI, they don’t have to: New research shows that many reviews are now written by ChatGPT and similar tools.
María de los Ángeles Oviedo-García, a professor of marketing at the University of Seville in Spain, spends her spare time hunting for suspect peer reviews from all areas of science, hundreds of which she has flagged on PubPeer. Some of these reviews are the length of a tweet, others ask authors to cite the reviewer’s work even if it has nothing to do with the science at hand, and many closely resemble other peer reviews for very different studies – evidence, in her eyes, of what she calls “review mills.”
PubPeer comment from María de los Ángeles Oviedo-García pointing out that a peer review report is very similar to two other reports. She also points out that authors and citations for all three are either anonymous or the same person – both hallmarks of fake papers. Screen capture by The Conversation, CC BY-ND
“One of the demanding fights for me is to keep faith in science,” says Oviedo-García, who tells her students to look up papers on PubPeer before relying on them too heavily. Her research has been slowed down, she adds, because she now feels compelled to look for peer review reports for studies she uses in her work. Often there aren’t any, because “very few journals publish those review reports,” Oviedo-García says.
An ‘absolutely huge’ problem
It is unclear when paper mills began to operate at scale. The earliest article retracted due to suspected involvement of such agencies was published in 2004, according to the Retraction Watch Database, which contains details about tens of thousands of retractions. (The database is operated by The Center for Scientific Integrity, the parent nonprofit of Retraction Watch.) Nor is it clear exactly how many low-quality, plagiarized or made-up articles paper mills have spawned.
But the number is likely to be significant and growing, experts say. One Russia-linked paper mill in Latvia, for instance, claims on its website to have published “more than 12,650 articles” since 2012.
An analysis of 53,000 papers submitted to six publishers – but not necessarily published – found the proportion of suspect papers ranged from 2% to 46% across journals. And the American publisher Wiley, which has retracted more than 11,300 compromised articles and closed 19 heavily affected journals in its erstwhile Hindawi division, recently said its new paper-mill detection tool flags up to 1 in 7 submissions.
Day, of Clear Skies, estimates that as many as 2% of the several million scientific works published in 2022 were milled. Some fields are more problematic than others. The number is closer to 3% in biology and medicine, and in some subfields, like cancer, it may be much larger, according to Day. Despite increased awareness today, “I do not see any significant change in the trend,” he said. With improved methods of detection, “any estimate I put out now will be higher.”
The paper-mill problem is “absolutely huge,” said Sabina Alam, director of Publishing Ethics and Integrity at Taylor & Francis, a major academic publisher. In 2019, none of the 175 ethics cases that editors escalated to her team was about paper mills, Alam said. Ethics cases include submissions and already published papers. In 2023, “we had almost 4,000 cases,” she said. “And half of those were paper mills.”
Jennifer Byrne, an Australian scientist who now heads up a research group to improve the reliability of medical research, submitted testimony for a hearing of the U.S. House of Representatives’ Committee on Science, Space, and Technology in July 2022. She noted that 700, or nearly 6%, of 12,000 cancer research papers screened had errors that could signal paper mill involvement. Byrne shuttered her cancer research lab in 2017 because the genes she had spent two decades researching and writing about became the target of an enormous number of fake papers. A rogue scientist fudging data is one thing, she said, but a paper mill could churn out dozens of fake studies in the time it took her team to publish a single legitimate one.
“The threat of paper mills to scientific publishing and integrity has no parallel over my 30-year scientific career …. In the field of human gene science alone, the number of potentially fraudulent articles could exceed 100,000 original papers,” she wrote to lawmakers, adding, “This estimate may seem shocking but is likely to be conservative.”
In one area of genetics research – the study of noncoding RNA in different types of cancer – “We’re talking about more than 50% of papers published are from mills,” Byrne said. “It’s like swimming in garbage.”
When retractions do happen, it is often thanks to the efforts of a small international community of amateur sleuths like Oviedo-García and those who post on PubPeer.
Jillian Goldfarb, an associate professor of chemical and biomolecular engineering at Cornell University and a former editor of the Elsevier journal Fuel, laments the publisher’s handling of the threat from paper mills.
“I was assessing upwards of 50 papers every day,” she said in an email interview. While she had technology to detect plagiarism, duplicate submissions and suspicious author changes, it was not enough. “It’s unreasonable to think that an editor – for whom this is not usually their full-time job – can catch these things reading 50 papers at a time. The time crunch, plus pressure from publishers to increase submission rates and citations and decrease review time, puts editors in an impossible situation.”
In October 2023, Goldfarb resigned from her position as editor of Fuel. In a LinkedIn post about her decision, she cited the company’s failure to move on dozens of potential paper-mill articles she had flagged; its hiring of a principal editor who reportedly “engaged in paper and citation milling”; and its proposal of candidates for editorial positions “with longer PubPeer profiles and more retractions than most people have articles on their CVs, and whose names appear as authors on papers-for-sale websites.”
“This tells me, our community, and the public, that they value article quantity and profit over science,” Goldfarb wrote.
In response to questions about Goldfarb’s resignation, an Elsevier spokesperson told The Conversation that it “takes all claims about research misconduct in our journals very seriously” and is investigating Goldfarb’s claims. The spokesperson added that Fuel’s editorial team has “been working to make other changes to the journal to benefit authors and readers.”
That’s not how it works, buddy
Business proposals had been piling up for years in the inbox of João de Deus Barreto Segundo, managing editor of six journals published by the Bahia School of Medicine and Public Health in Salvador, Brazil. Several came from suspect publishers on the prowl for new journals to add to their portfolios. Others came from academics suggesting fishy deals or offering bribes to publish their paper.
In one email from February 2024, an assistant professor of economics in Poland explained that he ran a company that worked with European universities. “Would you be interested in collaboration on the publication of scientific articles by scientists who collaborate with me?” Artur Borcuch inquired. “We will then discuss possible details and financial conditions.”
A university administrator in Iraq was more candid: “As an incentive, I am prepared to offer a grant of $500 for each accepted paper submitted to your esteemed journal,” wrote Ahmed Alkhayyat, head of the Islamic University Centre for Scientific Research, in Najaf, and manager of the school’s “world ranking.”
“That’s not how it works, buddy,” Barreto Segundo shot back.
In email to The Conversation, Borcuch denied any improper intent. “My role is to mediate in the technical and procedural aspects of publishing an article,” Borcuch said, adding that, when working with multiple scientists, he would “request a discount from the editorial office on their behalf.” Informed that the Brazilian publisher had no publication fees, Borcuch said a “mistake” had occurred because an “employee” sent the email for him “to different journals.”
Academic journals have different payment models. Many are subscription-based and don’t charge authors for publishing, but have hefty fees for reading articles. Libraries and universities also pay large sums for access.
A fast-growing open-access model – where anyone can read the paper – includes expensive publication fees levied on authors to make up for the loss of revenue in selling the articles. These payments are not meant to influence whether or not a manuscript is accepted.
The Bahia School of Medicine and Public Health, among others, doesn’t charge authors or readers, but Barreto Segundo’s employer is a small player in the scholarly publishing business, which brings in close to $30 billion a year on profit margins as high as 40%. Academic publishers make money largely from subscription fees from institutions like libraries and universities, individual payments to access paywalled articles, and open-access fees paid by authors to ensure their articles are free for anyone to read.
The industry is lucrative enough that it has attracted unscrupulous actors eager to find a way to siphon off some of that revenue.
Ahmed Torad, a lecturer at Kafr El Sheikh University in Egypt and editor-in-chief of the Egyptian Journal of Physiotherapy, asked for a 30% kickback for every article he passed along to the Brazilian publisher. “This commission will be calculated based on the publication fees generated by the manuscripts I submit,” Torad wrote, noting that he specialized “in connecting researchers and authors with suitable journals for publication.”
Apparently, he failed to notice that Bahia School of Medicine and Public Health doesn’t charge author fees.
Like Borcuch, Alkhayyat denied any improper intent. He said there had been a “misunderstanding” on the editor’s part, explaining that the payment he offered was meant to cover presumed article-processing charges. “Some journals ask for money. So this is normal,” Alkhayyat said.
Torad explained that he had sent his offer to source papers in exchange for a commission to some 280 journals, but had not forced anyone to accept the manuscripts. Some had balked at his proposition, he said, despite regularly charging authors thousands of dollars to publish. He suggested that the scientific community wasn’t comfortable admitting that scholarly publishing has become a business like any other, even if it’s “obvious to many scientists.”
The unwelcome advances all targeted one of the journals Barreto Segundo managed, The Journal of Physiotherapy Research, soon after it was indexed in Scopus, a database of abstracts and citations owned by the publisher Elsevier.
Along with Clarivate’s Web of Science, Scopus has become an important quality stamp for scholarly publications globally. Articles in indexed journals are money in the bank for their authors: They help secure jobs, promotions, funding and, in some countries, even trigger cash rewards. For academics or physicians in poorer countries, they can be a ticket to the global north.
Consider Egypt, a country plaguedbydubiousclinical trials. Universities there commonly pay employees large sums for international publications, with the amount depending on the journal’s impact factor. A similar incentive structure is hardwired into national regulations: To earn the rank of full professor, for example, candidates must have at least five publications in two years, according to Egypt’s Supreme Council of Universities. Studies in journals indexed in Scopus or Web of Science not only receive extra points, but they also are exempt from further scrutiny when applicants are evaluated. The higher a publication’s impact factor, the more points the studies get.
With such a focus on metrics, it has become common for Egyptian researchers to cut corners, according to a physician in Cairo who requested anonymity for fear of retaliation. Authorship is frequently gifted to colleagues who then return the favor later, or studies may be created out of whole cloth. Sometimes an existing legitimate paper is chosen from the literature, and key details such as the type of disease or surgery are then changed and the numbers slightly modified, the source explained.
It affects clinical guidelines and medical care, “so it’s a shame,” the physician said.
Ivermectin, a drug used to treat parasites in animals and humans, is a case in point. When some studies showed that it was effective against COVID-19, ivermectin was hailed as a “miracle drug” early in the pandemic. Prescriptions surged, and along with them calls to U.S. poison centers; one man spent nine days in the hospital after downing an injectable formulation of the drug that was meant for cattle, according to the Centers for Disease Control and Prevention. As it turned out, nearly all of the research that showed a positive effect on COVID-19 had indications of fakery, the BBC and others reported – including a now-withdrawn Egyptian study. With no apparent benefit, patients were left with just side effects.
“There’s a huge academic incentive and profit motive,” says Lisa Bero, a professor of medicine and public health at the University of Colorado Anschutz Medical Campus and the senior research-integrity editor at the Cochrane Collaboration, an international nonprofit organization that produces evidence reviews about medical treatments. “I see it at every institution I’ve worked at.”
But in the global south, the publish-or-perish edict runs up against underdeveloped research infrastructures and education systems, leaving scientists in a bind. For a Ph.D., the Cairo physician who requested anonymity conducted an entire clinical trial single-handedly – from purchasing study medication to randomizing patients, collecting and analyzing data and paying article-processing fees. In wealthier nations, entire teams work on such studies, with the tab easily running into the hundreds of thousands of dollars.
“Research is quite challenging here,” the physician said. That’s why scientists “try to manipulate and find easier ways so they get the job done.”
Institutions, too, have gamed the system with an eye to international rankings. In 2011, the journal Science described how prolific researchers in the United States and Europe were offered hefty payments for listing Saudi universities as secondary affiliations on papers. And in 2023, the magazine, in collaboration with Retraction Watch, uncovered a massive self-citation ploy by a top-ranked dental school in India that forced undergraduate students to publish papers referencing faculty work.
The root – and solutions
Such unsavory schemes can be traced back to the introduction of performance-based metrics in academia, a development driven by the New Public Management movement that swept across the Western world in the 1980s, according to Canadian sociologist of science Yves Gingras of the Université du Québec à Montréal. When universities and public institutions adopted corporate management, scientific papers became “accounting units” used to evaluate and reward scientific productivity rather than “knowledge units” advancing our insight into the world around us, Gingras wrote.
This transformation led many researchers to compete on numbers instead of content, which made publication metrics poor measures of academic prowess. As Gingras has shown, the controversial French microbiologist Didier Raoult, who now has more than a dozen retractions to his name, has an h-index – a measure combining publication and citation numbers – that is twice as high as that of Albert Einstein – “proof that the index is absurd,” Gingras said.
Worse, a sort of scientific inflation, or “scientometric bubble,” has ensued, with each new publication representing an increasingly small increment in knowledge. “We publish more and more superficial papers, we publish papers that have to be corrected, and we push people to do fraud,” said Gingras.
In 2024, Landon Halloran, a geoscientist at the University of Neuchâtel, in Switzerland, received an unusual job application for an opening in his lab. A researcher with a Ph.D. from China had sent him his CV. At 31, the applicant had amassed 160 publications in Scopus-indexed journals, 62 of them in 2022 alone, the same year he obtained his doctorate. Although the applicant was not the only one “with a suspiciously high output,” according to Halloran, he stuck out. “My colleagues and I have never come across anything quite like it in the geosciences,” he said.
According to industry insiders and publishers, there is more awareness now of threats from paper mills and other bad actors. Some journals routinely check for image fraud. A bad AI-generated image showing up in a paper can either be a sign of a scientist taking an ill-advised shortcut, or a paper mill.
The Cochrane Collaboration has a policy excluding suspect studies from its analyses of medical evidence. The organization also has been developing a tool to help its reviewers spot problematic medical trials, just as publishers have begun to screen submissions and share data and technologies among themselves to combat fraud.
This image, generated by AI, is a visual gobbledygook of concepts around transporting and delivering drugs in the body. For instance, the upper left figure is a nonsensical mix of a syringe, an inhaler and pills. And the pH-sensitive carrier molecule on the lower left is huge, rivaling the size of the lungs. After scientist sleuths pointed out that the published image made no sense, the journal issued a correction. Screen capture by The Conversation, CC BY-ND This graphic is the corrected image that replaced the AI image above. In this case, according to the correction, the journal determined that the paper was legitimate but the scientists had used AI to generate the image describing it. Screen capture by The Conversation, CC BY-ND
“People are realizing like, wow, this is happening in my field, it’s happening in your field,” said the Cochrane Collaboration’s Bero”. “So we really need to get coordinated and, you know, develop a method and a plan overall for stamping these things out.”
What jolted Taylor & Francis into paying attention, according to Alam, the director of Publishing Ethics and Integrity, was a 2020 investigation of a Chinese paper mill by sleuth Elisabeth Bik and three of her peers who go by the pseudonyms Smut Clyde, Morty and Tiger BB8. With 76 compromised papers, the U.K.-based company’s Artificial Cells, Nanomedicine, and Biotechnology was the most affected journal identified in the probe.
“It opened up a minefield,” says Alam, who also co-chairs United2Act, a project launched in 2023 that brings together publishers, researchers and sleuths in the fight against paper mills. “It was the first time we realized that stock images essentially were being used to represent experiments.”
Taylor & Francis decided to audit the hundreds of articles in its portfolio that contained similar types of images. It doubled Alam’s team, which now has 14.5 positions dedicated to doing investigations, and also began monitoring submission rates. Paper mills, it seemed, weren’t picky customers.
“What they’re trying to do is find a gate, and if they get in, then they just start kind of slamming in the submissions,” Alam said. Seventy-six fake papers suddenly seemed like a drop in the ocean. At one Taylor & Francis journal, for instance, Alam’s team identified nearly 1,000 manuscripts that bore all the marks of coming from a mill, she said.
And in 2023, it rejected about 300 dodgy proposals for special issues. “We’ve blocked a hell of a lot from coming through,” Alam said.
Fraud checkers
A small industry of technology startups has sprung up to help publishers, researchers and institutions spot potential fraud. The website Argos, launched in September 2024 by Scitility, an alert service based in Sparks, Nevada, allows authors to check if new collaborators are trailed by retractions or misconduct concerns. It has flagged tens of thousands of “high-risk” papers, according to the journal Nature.
Fraud-checker tools sift through papers to point to those that should be manually checked and possibly rejected. solidcolours/iStock via Getty Images
The fraudsters have not been idle, either. In 2022, when Clear Skies released the Papermill Alarm, the first academic to inquire about the new tool was a paper miller, according to Day. The person wanted access so he could check his papers before firing them off to publishers, Day said. “Paper mills have proven to be adaptive and also quite quick off the mark.”
Given the ongoing arms race, Alam acknowledges that the fight against paper mills won’t be won as long as the booming demand for their products remains.
According to a Nature analysis, the retraction rate tripled from 2012 to 2022 to close to .02%, or around 1 in 5,000 papers. It then nearly doubled in 2023, in large part because of Wiley’s Hindawi debacle. Today’s commercial publishing is part of the problem, Byrne said. For one, cleaning up the literature is a vast and expensive undertaking with no direct financial upside. “Journals and publishers will never, at the moment, be able to correct the literature at the scale and in the timeliness that’s required to solve the paper-mill problem,” Byrne said. “Either we have to monetize corrections such that publishers are paid for their work, or forget the publishers and do it ourselves.”
But that still wouldn’t fix the fundamental bias built into for-profit publishing: Journals don’t get paid for rejecting papers. “We pay them for accepting papers,” said Bodo Stern, a former editor of the journal Cell and chief of Strategic Initiatives at Howard Hughes Medical Institute, a nonprofit research organization and major funder in Chevy Chase, Maryland. “I mean, what do you think journals are going to do? They’re going to accept papers.”
With more than 50,000 journals on the market, even if some are trying hard to get it right, bad papers that are shopped around long enough eventually find a home, Stern added. “That system cannot function as a quality-control mechanism,” he said. “We have so many journals that everything can get published.”
In Stern’s view, the way to go is to stop paying journals for accepting papers and begin looking at them as public utilities that serve a greater good. “We should pay for transparent and rigorous quality-control mechanisms,” he said.
Peer review, meanwhile, “should be recognized as a true scholarly product, just like the original article, because the authors of the article and the peer reviewers are using the same skills,” Stern said. By the same token, journals should make all peer-review reports publicly available, even for manuscripts they turn down. “When they do quality control, they can’t just reject the paper and then let it be published somewhere else,” Stern said. “That’s not a good service.”
Better measures
Stern isn’t the first scientist to bemoan the excessive focus on bibliometrics. “We need less research, better research, and research done for the right reasons,” wrote the late statistician Douglas G. Altman in a much-cited editorial from 1994. “Abandoning using the number of publications as a measure of ability would be a start.”
Despite the declaration, metrics remain in wide use today, and scientists say there is a new sense of urgency.
“We’re getting to the point where people really do feel they have to do something” because of the vast number of fake papers, said Richard Sever, assistant director of Cold Spring Harbor Laboratory Press, in New York, and co-founder of the preprint servers bioRxiv and medRxiv.
Stern and his colleagues have tried to make improvements at their institution. Researchers who wish to renew their seven-year contract have long been required to write a short paragraph describing the importance of their major results. Since the end of 2023, they also have been asked to remove journal names from their applications.
That way, “you can never do what all reviewers do – I’ve done it – look at the bibliography and in just one second decide, ‘Oh, this person has been productive because they have published many papers and they’re published in the right journals,’” says Stern. “What matters is, did it really make a difference?”
Shifting the focus away from convenient performance metrics seems possible not just for wealthy private institutions like Howard Hughes Medical Institute, but also for large government funders. In Australia, for example, the National Health and Medical Research Council in 2022 launched the “top 10 in 10” policy, aiming, in part, to “value research quality rather than quantity of publications.”
Rather than providing their entire bibliography, the agency, which assesses thousands of grant applications every year, asked researchers to list no more than 10 publications from the past decade and explain the contribution each had made to science. According to an evaluation report from April, 2024 close to three-quarters of grant reviewers said the new policy allowed them to concentrate more on research quality than quantity. And more than half said it reduced the time they spent on each application.
Gingras, the Canadian sociologist, advocates giving scientists the time they need to produce work that matters, rather than a gushing stream of publications. He is a signatory to the Slow Science Manifesto: “Once you get slow science, I can predict that the number of corrigenda, the number of retractions, will go down,” he says.
At one point, Gingras was involved in evaluating a research organization whose mission was to improve workplace security. An employee presented his work. “He had a sentence I will never forget,” Gingras recalls. The employee began by saying, “‘You know, I’m proud of one thing: My h-index is zero.’ And it was brilliant.” The scientist had developed a technology that prevented fatal falls among construction workers. “He said, ‘That’s useful, and that’s my job.’ I said, ‘Bravo!’”
Labbé receives funding from the European Research Council.
He has also received funding from the French National Research Agency (ANR), and the U.S. Office of Research Integrity.
Labbé has been in touch with most of the major publishers and their integrity officers, offering pro-bono consulting regarding detection tools to various actors in the field including STM-Hub and Morressier.
Cabanac receives funding from the European Research Council (ERC) and the Institut Universitaire de France (IUF). He is the administrator of the Problematic Paper Screener, a public platform that uses metadata from Digital Science and PubPeer via no-cost agreements. Cabanac has been in touch with most of the major publishers and their integrity officers, offering pro bono consulting regarding detection tools to various actors in the field including ClearSkies, Morressier, River Valley, Signals, and STM.
Frederik Joelving does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
On Wednesday, Corrie Hermann, daughter of cellist and Holocaust victim Pál Hermann, addressed MEPs in a plenary session marking International Holocaust Remembrance Day
President Roberta Metsola opened the ceremony, which also marked the 80th anniversary of the liberation of the Auschwitz-Birkenau concentration camp on 27 January.
“We can never forget, and we must act. Ours is the last generation to have the privilege of knowing Holocaust survivors, and hearing their stories first-hand. Their voices, their courage, their memories are a bridge to a past that must never be forgotten. Because even after the horrors of the Holocaust, antisemitism did not disappear. It persisted. It evolved.
Memory is a duty. A responsibility to ensure that “never again” is not an empty promise.
This European Parliament will always remember. And we will always speak up – just as our first woman President Simone Veil, herself a survivor, taught us to do. Her legacy reminds us that neutrality helps only the oppressor, never the victim. This Parliament will always stand for dignity. For hope. For humanity”, she said. President Metsola’s speech was followed by a musical performance featuring Hermann’s original Gagliano cello.
In her address Corrie Hermann shared the story of how her father, Hungarian composer and cellist Pál Hermann, considered as one of the finest cellists of his time, was murdered by the Nazis in 1944. “This story about one Holocaust victim is dedicated to every one of the six million victims whom we deplore today”, she said.
Ms Hermann recounted her father’s life as a musician, from his education at the Franz Liszt Academy in Budapest to performing on Europe’s most prestigious stages. After fleeing to Belgium and France, he was arrested in Toulouse in a street raid in April 1944, and transported to Drancy the camp near Paris from where the transports for the concentration camps departed. From there he was deported to the Kaunas concentration camp in Lithuania. While the train was waiting at the station, he managed to throw a note from the train, asking for his Gagliano cello to be saved. The note was found and sent to his brother-in-law, who replaced the Gagliano with a lesser instrument and escaped with the cello strapped to his back. “We don’t know what happened next, but only a handful of the 900 prisoners returned after the war,” she recalled.
Despite his tragic fate, Hermann’s music continues to inspire people across the world. Over 80 years after his death, his Gagliano cello was rediscovered and his compositions have been performed by renowned international artists. “Hitler burned books, destroyed paintings, and murdered millions; but music is invincible,” Corrie Hermann said.
Following the speech, MEPs observed a minute’s silence. The ceremony ended with a musical performance of “Kaddish” by Maurice Ravel.
Pál Hermann, born on 27 March 1902 in Budapest, was a renowned Hungarian cellist and composer. During the 1920s, he moved to Berlin and performed across Europe on his Gagliano cello. In 1933, Hermann fled to Belgium and later to France. Arrested by the Nazis in Toulouse in 1944, Hermann was then murdered by the Nazis in Lithuania months later.
Corrie (Cornelia) Hermann, born in Amersfoort (The Netherlands) on 4 August 1932, is a retired doctor and former politician. In 1996, she founded the Paul Hermann Fund to support young professional cellists.
Question for written answer E-000200/2025 to the Commission Rule 144 Georgiana Teodorescu (ECR), Adrian-George Axinia (ECR), Gheorghe Piperea (ECR), Claudiu-Richard Târziu (ECR), Şerban Dimitrie Sturdza (ECR)
In an interview with the RMC channel on 10 January 2025, former European Commissioner Thierry Breton stated: ‘Let’s enforce our laws in Europe when they are at risk being circumvented and when they could, if not enforced, lead to interference. We did it in Romania, and we will obviously do it if necessary in Germany’, when asked about possible external interference, especially by Elon Musk.
The French politician’s statements cast doubt on the European Union’s position on democratic principles and its respect for the sovereignty of the Member States, especially in the context of the recent elections in Romania and the implications for future electoral processes throughout the Union.
Given that a former European Commissioner made this statement, we ask the following questions:
1.What specifically does the European Commission’s involvement in national elections in a Member State consist of?
2.What are the reasons why ‘the law was enforced’ and the presidential elections in Romania were annulled?
Priority question for written answer P-000353/2025 to the Commission Rule 144 Ondřej Knotek (PfE)
On 15 January 2025, Politico quoted an unnamed EU diplomat as allegedly claiming that ‘the EU should consider starting Article 7 proceedings – penalties that can culminate in a country’s exclusion from EU decision-making – against both Hungary and Austria to send a signal to France, where far-right leader Marine Le Pen is eyeing a fourth run for the presidency in 2027’[1].
1.Is this above-mentioned opinion the position of the Commission?
2.Is the Commission able to guarantee that it will not start Article 7 proceedings or take other measures against sovereign EU Member States after they have held national elections?
DUNMORE, Pa., Jan. 29, 2025 (GLOBE NEWSWIRE) — Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) and its banking subsidiary, The Fidelity Deposit and Discount Bank (“the Company”), announced its unaudited, consolidated financial results for the three and twelve month periods ended December 31, 2024.
Unaudited Financial Information
Net income recorded for the year ended December 31, 2024 was $20.8 million, or $3.60 diluted earnings per share, compared to $18.2 million, or $3.19 diluted earnings per share, for the year ended December 31, 2023. The $2.6 million, or 14% increase in net income resulted primarily from the $7.6 million increase in non-interest income for 2024 compared to 2023. During 2023, the Company sold available-for-sale securities resulting in a $6.5 million loss, $5.1 million net of tax, which was the primary reason for the change in non-interest income. This was partially offset by the $3.7 million increase in non-interest expense.
Net income for the quarter ended December 31, 2024 was $5.8 million, or $1.01 diluted earnings per share, compared to $0.5 million, or $0.08 diluted earnings per share, for the quarter ended December 31, 2023. The $5.3 million increase in net income stemmed from a $6.5 million loss, $5.1 million net of tax, on the sale of securities which lowered non-interest income for the fourth quarter of 2023. This is coupled with a $1.5 million increase in net interest income to $16.4 million in the fourth quarter of 2024, compared to $14.9 million in the same quarter of 2023. These increases are offset by a $1.6 million increase in non-interest expense.
“We are pleased to post solid performance in Q4, attributable to the execution of our strategic initiatives and improvement in our net interest margin,” said Dan Santaniello, President and CEO. “Strong deposit and lending growth, along with positive balance sheet trends and credit metrics contributed to the achievement of year end asset balances of $2.6 billion and $20.8 million in net income. I would like to thank our bankers for their efforts and dedication in continuing to serve our clients, our shareholders and our communities well, positioning us for a strong 2025.”
Net interest income was $61.9 million for the year ended December 31, 2024 compared to $62.1 million for the year ended December 31, 2023. The $0.2 million, or less than 1%, decline was the result of interest expense growing faster than interest income. On the asset side, the loan portfolio caused interest income growth by producing $12.6 million more in interest income primarily from an increase of 45 basis points in the fully-taxable equivalent (“FTE”) loan yields on $106.1 million in higher average balances. On the funding side, total interest expense increased by $13.4 million due to an increase in interest expense paid on deposits of $14.2 million from a 72 basis point higher rate paid on a $111.0 million larger average balance of interest-bearing deposits, partially offset by a decrease in interest expense on borrowings of $0.8 million for the twelve months ended December 31, 2024 compared to the same period in 2023.
The overall cost of interest-bearing liabilities was 2.60% for the twelve months ended December 31, 2024 compared to 1.93% for the twelve months ended December 31, 2023. The cost of funds increased 55 basis points to 1.99% for the twelve months ended December 31, 2024 from 1.44% for the same period of 2023. The FTE yield on interest-earning assets was 4.62% for the year ended December 31, 2024, an increase of 44 basis points from the 4.18% for the same period of 2023. The Company’s FTE (non-GAAP measurement) net interest spread was 2.02% for the twelve months ended December 31, 2024, a decrease of 23 basis points from the 2.25% recorded for the same period of 2023. FTE net interest margin decreased by 9 basis points to 2.72% for the twelve months ended December 31, 2024 from 2.81% for the same 2023 period due to the increase of 67 basis points in rates paid on interest-bearing liabilities growing at a faster pace than the increase of 44 basis points in yields on interest-earning assets.
For the year ended December 31, 2024, the provision for credit losses on loans was $1.3 million and the provision for credit losses on unfunded commitments was $0.1 million, compared to a $1.5 million provision for credit losses on loans and a $0.2 million net benefit for the provision for unfunded commitments for the year ended December 31, 2023. For the year ended December 31, 2024, the decrease in the provision for credit losses on loans compared to the prior year period was due to lower net charge-offs coupled with improved economic forecast assumptions. For the year ended December 31, 2024, the increase in the provision for credit losses on unfunded commitments compared to the prior period was due to growth in unfunded commitments, specifically in commercial construction commitments.
Total non-interest income for the year ended December 31, 2024 was $19.0 million, an increase of $7.6 million, or 67%, from $11.4 million for the year ended December 31, 2023. The primary driver of the large increase was a $6.5 million loss recognized on the sale of securities during 2023. The remaining $1.1 million increase resulted from increases of $0.6 million in additional trust fiduciary fees, $0.3 million in additional service charges on loans, $0.2 million more in debit card interchange fees and $0.1 million higher fees from financial services. Partially offsetting these increases, the Company received $0.3 million in recoveries from acquired charged-off loans during 2023. Additionally, the Company experienced a decrease of $0.2 million in fees from commercial loans with interest rate hedges compared to 2023.
Non-interest expenses increased to $55.5 million for the year ended December 31, 2024, an increase of $3.6 million, or 7%, from $51.9 million for the year ended December 31, 2023. Salaries and benefits expense increased $3.2 million due to an increase in employees and incentive-based compensation throughout the year ended December 31, 2024. There were additional increases throughout the period in professional fees of $0.6 million, and PA shares tax of $0.3 million. The increases were partially offset by $0.5 million less in fraud losses and $0.3 million less advertising and marketing expenses.
The provision for income taxes increased $1.0 million during 2024 compared to 2023 due to $3.6 million higher income before taxes.
Net interest income was $16.4 million for the fourth quarter of 2024, a 10% increase over the $14.9 million earned for the fourth quarter of 2023. The $1.5 million increase in net interest income resulted from the increase of $3.2 million in interest income primarily due to a $131.7 million increase in the average balance of interest-earning assets and a 32 basis point increase in the FTE yield. The loan portfolio had the biggest impact, producing a $3.2 million increase in interest income from $132.1 million in higher quarterly average balances and an increase of 37 basis points in the FTE loan yield. Slightly offsetting the higher interest income is a $1.7 million increase in interest expense due to a 24 basis point increase in the rates paid on interest-bearing liabilities coupled with a $152.4 million quarter-over-quarter increase in average interest-bearing deposit balances. The largest contributor to the increase in interest expense was due to growth in average balances and a 31 basis point increase in the rates paid on interest-bearing deposits.
The overall cost of interest-bearing liabilities was 2.60% for the fourth quarter of 2024, an increase of 24 basis points from the 2.36% paid for the fourth quarter of 2023. The cost of funds increased 21 basis points to 2.00% for the fourth quarter of 2024 from 1.79% for the fourth quarter of 2023. The Company’s FTE (non-GAAP measurement) net interest spread was 2.08% for the fourth quarter of 2024, up 8 basis points from the 2.00% recorded for the fourth quarter of 2023. FTE net interest margin increased by 12 basis points to 2.78% for the three months ended December 31, 2024 from 2.66% for the same 2023 period due to the increase of 32 basis points in the yields on interest-earning assets growing slightly faster than increase of 24 basis points in rates paid on interest-bearing liabilities.
For the three months ended December 31, 2024, the provision for credit losses on loans was $0.2 million partially offset by a $0.1 million net benefit in the provision for unfunded commitments, compared to a $0.1 million provision for credit losses on loans and a $0.1 million net benefit in the provision for credit losses on unfunded loan commitments for the three months ended December 31, 2023. For the three months ended December 31, 2024, the increase in the provision for credit losses on loans compared to the prior year period was due to higher net charge-offs compared to the same period of 2023. For the three months ended December 31, 2024, the $0.1 million net benefit for credit losses on unfunded commitments, which was unchanged from the prior year period, was due to a reduction in unfunded commitments as funds were advanced during the quarter.
Total non-interest income increased $6.8 million to $4.8 million in the fourth quarter of 2024 compared to the same period of 2023 primarily due to the $6.5 million loss recognized on the sale of securities during the fourth quarter of 2023. Additionally, the Company experienced an increase of $0.2 million in trust fiduciary activities revenue.
Non-interest expenses increased $1.6 million, or 12%, for the fourth quarter of 2024 to $14.4 million from $12.8 million for the same quarter of 2023. The increase in non-interest expenses was primarily due to $1.2 million increase in salaries and benefits expense from higher salaries related to new hires and banker incentives. There were also increases in professional services of $0.3 million, data center services of $0.1 million, and PA shares tax of $0.1 million.
The provision for income taxes increased $1.2 million during the fourth quarter of 2024 primarily due to the higher level of operating income compared to the fourth quarter of 2023.
The Company’s total assets grew to $2.6 billion as of December 31, 2024, an increase of $81.5 million from December 31, 2023. The increase resulted from $114.3 million in growth in the loans and leases portfolio during the twelve months ended December 31, 2024. Asset growth was offset by a decline in cash and cash equivalents by $28.6 million and a decrease in the investment portfolio by $11.1 million. The decline in the investment portfolio was primarily due to $22.0 million in paydowns partially offset by a $15.4 million in purchases within the available-for-sale securities portfolio. As of December 31, 2024, the market value of held-to-maturity securities decreased by $2.6 million compared to December 31, 2023, bringing the portfolio down to a $31.2 million unrealized loss position.
During the same time period, total liabilities increased $67.0 million, or 3%. Deposit growth of $182.4 million was utilized to fund loan growth and pay-off of short-term borrowings as of December 31, 2024. The Company experienced an increase of $110.4 million in money market deposits and an increase of $125.9 million in time deposits due to promotional rates offered as a result of market competition. The growth in these products was partially offset by a decrease of $53.9 million in checking and savings account balances as of December 31, 2024. This decrease resulted primarily from declines experienced in average balances per checking and saving account, even though the number of accounts in each product grew throughout 2024. Also as of December 31, 2024, checking deposit balances remained at more than half of total deposits. As of December 31, 2024, the ratio of insured and collateralized deposits to total deposits was approximately 76%.
Shareholders’ equity increased $14.5 million, or 8%, to $204.0 million at December 31, 2024 from $189.5 million at December 31, 2023. The increase was caused by $11.9 million higher retained earnings from net income of $20.8 million plus a $0.9 million, after tax, improvement in accumulated other comprehensive income from lower net unrealized losses recorded on available-for-sale securities, partially offset by $8.9 million in cash dividends paid to shareholders. An additional $1.7 million was recorded from the issuance of common stock under the Company’s stock plans and stock-based compensation expense. At December 31, 2024, there were no credit losses on available-for-sale and held-to-maturity debt securities. Accumulated other comprehensive income (loss) is excluded from regulatory capital ratios. The Company remains well capitalized with Tier 1 capital at 9.22% of total average assets as of December 31, 2024. Total risk-based capital was 14.78% of risk-weighted assets and Tier 1 risk-based capital was 13.60% of risk-weighted assets as of December 31, 2024. Tangible book value per share was $31.98 at December 31, 2024 compared to $29.57 at December 31, 2023. Tangible common equity was 7.16% of total assets at December 31, 2024 compared to 6.79% at December 31, 2023.
Asset Quality
Total non-performing assets were $7.8 million, or 0.30% of total assets at December 31, 2024, compared to $3.3 million, or 0.13% of total assets at December 31, 2023. Past due and non-accrual loans to total loans were 0.71% at December 31, 2024 compared to 0.46% at December 31, 2023. Net charge-offs to average total loans were 0.03% at December 31, 2024 compared to 0.04% at December 31, 2023.
About Fidelity D & D Bancorp, Inc. and The Fidelity Deposit and Discount Bank
Fidelity D & D Bancorp, Inc. has built a strong history as trusted financial advisor to the clients served by The Fidelity Deposit and Discount Bank (“Fidelity Bank”). Fidelity Bank continues its mission of exceeding client expectations through a unique banking experience. It operates 21 full-service offices throughout Lackawanna, Luzerne, Lehigh and Northampton Counties and a Fidelity Bank Wealth Management Office in Schuylkill County. Fidelity Bank provides a digital banking experience online at www.bankatfidelity.com, through the Fidelity Mobile Banking app, and in the Client Care Center at 1-800-388-4380. Additionally, the Bank offers full-service Wealth Management & Brokerage Services, a Mortgage Center, and a full suite of personal and commercial banking products and services. Part of the Company’s vision is to serve as the best bank for the community, which was accomplished by having provided over 5,960 hours of volunteer time and over $1.3 million in donations to non-profit organizations directly within the markets served throughout 2024. Fidelity Bank’s deposits are insured by the Federal Deposit Insurance Corporation up to the full extent permitted by law.
Non-GAAP Financial Measures
The Company uses non-GAAP financial measures to provide information useful to the reader in understanding its operating performance and trends, and to facilitate comparisons with the performance of other financial institutions. Management uses these measures internally to assess and better understand our underlying business performance and trends related to core business activities. The Company’s non-GAAP financial measures and key performance indicators may differ from the non-GAAP financial measures and key performance indicators other financial institutions use to measure their performance and trends. Non-GAAP financial measures should be supplemental to GAAP used to prepare the Company’s operating results and should not be read in isolation or relied upon as a substitute for GAAP measures. Reconciliations of non-GAAP financial measures to GAAP are presented in the tables below.
Interest income was adjusted to recognize the income from tax exempt interest-earning assets as if the interest was taxable, fully-taxable equivalent (“FTE”), in order to calculate certain ratios within this document. This treatment allows a uniform comparison among yields on interest-earning assets. Interest income was FTE adjusted, using the corporate federal tax rate of 21% for 2024 and 2023.
Forward-looking statements
Certain of the matters discussed in this press release constitute forward-looking statements for purposes of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and as such may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. The words “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” and similar expressions are intended to identify such forward-looking statements.
The Company’s actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation:
■
local, regional and national economic conditions and changes thereto;
■
the short-term and long-term effects of inflation, and rising costs to the Company, its customers and on the economy;
■
the risks of changes and volatility of interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities and interest rate protection agreements, as well as interest rate risks;
■
securities markets and monetary fluctuations and volatility;
■
disruption of credit and equity markets;
■
impacts of the capital and liquidity requirements of the Basel III standards and other regulatory pronouncements, regulations and rules;
■
governmental monetary and fiscal policies, as well as legislative and regulatory changes;
■
effects of short- and long-term federal budget and tax negotiations and their effect on economic and business conditions;
■
the costs and effects of litigation and of unexpected or adverse outcomes in such litigation;
■
the impact of new or changes in existing laws and regulations, including laws and regulations concerning taxes, banking, securities and insurance and their application with which the Company and its subsidiaries must comply;
■
the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters;
■
the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in our market area and elsewhere, including institutions operating locally, regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the internet;
■
the effects of economic conditions of any pandemic, epidemic or other health-related crisis such as COVID-19 and responses thereto on current customers and the operations of the Company, specifically the effect of the economy on loan customers’ ability to repay loans;
■
the effects of bank failures, banking system instability, deposit fluctuations, loan and securities value changes;
■
technological changes;
■
the interruption or breach in security of our information systems, continually evolving cybersecurity and other technological risks and attacks resulting in failures or disruptions in customer account management, general ledger processing and loan or deposit updates and potential impacts resulting therefrom including additional costs, reputational damage, regulatory penalties, and financial losses;
■
acquisitions and integration of acquired businesses;
■
the failure of assumptions underlying the establishment of reserves for loan losses and estimations of values of collateral and various financial assets and liabilities;
■
acts of war or terrorism; and
■
the risk that our analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.
The Company cautions readers not to place undue reliance on forward-looking statements, which reflect analyses only as of the date of this release. The Company has no obligation to update any forward-looking statements to reflect events or circumstances after the date of this release.
For more information please visit our investor relations web site located through www.bankatfidelity.com.
FIDELITY D & D BANCORP, INC. Unaudited Condensed Consolidated Balance Sheets (dollars in thousands)
At Period End:
December 31, 2024
December 31, 2023
Assets
Cash and cash equivalents
$
83,353
$
111,949
Investment securities
557,221
568,273
Restricted investments in bank stock
3,961
3,905
Loans and leases
1,800,856
1,686,555
Allowance for credit losses on loans
(19,666
)
(18,806
)
Premises and equipment, net
35,914
34,232
Life insurance cash surrender value
58,069
54,572
Goodwill and core deposit intangible
20,504
20,812
Other assets
44,404
41,667
Total assets
$
2,584,616
$
2,503,159
Liabilities
Non-interest-bearing deposits
$
533,935
$
536,143
Interest-bearing deposits
1,806,885
1,622,282
Total deposits
2,340,820
2,158,425
Short-term borrowings
–
117,000
Secured borrowings
6,266
7,372
Other liabilities
33,561
30,883
Total liabilities
2,380,647
2,313,680
Shareholders’ equity
203,969
189,479
Total liabilities and shareholders’ equity
$
2,584,616
$
2,503,159
Average Year-To-Date Balances:
December 31, 2024
December 31, 2023
Assets
Cash and cash equivalents
$
55,773
$
35,462
Investment securities
557,537
597,359
Restricted investments in bank stock
3,960
4,212
Loans and leases
1,741,349
1,635,286
Allowance for credit losses on loans
(19,391
)
(18,680
)
Premises and equipment, net
35,580
32,215
Life insurance cash surrender value
56,455
54,085
Goodwill and core deposit intangible
20,641
20,977
Other assets
41,755
44,180
Total assets
$
2,493,659
$
2,405,096
Liabilities
Non-interest-bearing deposits
$
527,825
$
558,962
Interest-bearing deposits
1,697,529
1,586,527
Total deposits
2,225,354
2,145,489
Short-term borrowings
32,446
49,860
Secured borrowings
6,830
7,489
Other liabilities
32,471
29,881
Total liabilities
2,297,101
2,232,719
Shareholders’ equity
196,558
172,377
Total liabilities and shareholders’ equity
$
2,493,659
$
2,405,096
FIDELITY D & D BANCORP, INC. Unaudited Condensed Consolidated Statements of Income (dollars in thousands)
Three Months Ended
Twelve Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Interest income
Loans and leases
$
24,584
$
21,406
$
93,269
$
80,629
Securities and other
3,475
3,434
13,753
13,206
Total interest income
28,059
24,840
107,022
93,835
Interest expense
Deposits
(11,468
)
(9,232
)
(43,165
)
(28,945
)
Borrowings and debt
(217
)
(707
)
(1,992
)
(2,843
)
Total interest expense
(11,685
)
(9,939
)
(45,157
)
(31,788
)
Net interest income
16,374
14,901
61,865
62,047
Provision for credit losses on loans
(250
)
(111
)
(1,325
)
(1,491
)
Net benefit (provision) for credit losses on unfunded loan commitments
85
65
(140
)
165
Non-interest income (loss)
4,847
(1,944
)
19,013
11,405
Non-interest expense
(14,395
)
(12,804
)
(55,541
)
(51,870
)
Income before income taxes
6,661
107
23,872
20,256
(Provision) benefit for income taxes
(826
)
361
(3,078
)
(2,046
)
Net income
$
5,835
$
468
$
20,794
$
18,210
Three Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Interest income
Loans and leases
$
24,584
$
24,036
$
22,516
$
22,133
$
21,406
Securities and other
3,475
3,263
3,523
3,492
3,434
Total interest income
28,059
27,299
26,039
25,625
24,840
Interest expense
Deposits
(11,468
)
(11,297
)
(10,459
)
(9,941
)
(9,232
)
Borrowings and debt
(217
)
(571
)
(463
)
(741
)
(707
)
Total interest expense
(11,685
)
(11,868
)
(10,922
)
(10,682
)
(9,939
)
Net interest income
16,374
15,431
15,117
14,943
14,901
Provision for credit losses on loans
(250
)
(675
)
(275
)
(125
)
(111
)
Net benefit (provision) for credit losses on unfunded loan commitments
85
(135
)
(140
)
50
65
Non-interest income (loss)
4,847
4,979
4,615
4,572
(1,944
)
Non-interest expense
(14,395
)
(13,840
)
(13,616
)
(13,689
)
(12,804
)
Income before income taxes
6,661
5,760
5,701
5,751
107
(Provision) benefit for income taxes
(826
)
(793
)
(766
)
(694
)
361
Net income
$
5,835
$
4,967
$
4,935
$
5,057
$
468
FIDELITY D & D BANCORP, INC. Unaudited Condensed Consolidated Balance Sheets (dollars in thousands)
At Period End:
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Assets
Cash and cash equivalents
$
83,353
$
120,169
$
78,085
$
72,733
$
111,949
Investment securities
557,221
559,819
552,495
559,016
568,273
Restricted investments in bank stock
3,961
3,944
3,968
3,959
3,905
Loans and leases
1,800,856
1,795,548
1,728,509
1,697,299
1,686,555
Allowance for credit losses on loans
(19,666
)
(19,630
)
(18,975
)
(18,886
)
(18,806
)
Premises and equipment, net
35,914
36,057
35,808
34,899
34,232
Life insurance cash surrender value
58,069
57,672
57,278
54,921
54,572
Goodwill and core deposit intangible
20,504
20,576
20,649
20,728
20,812
Other assets
44,404
41,778
42,828
44,227
41,667
Total assets
$
2,584,616
$
2,615,933
$
2,500,645
$
2,468,896
$
2,503,159
Liabilities
Non-interest-bearing deposits
$
533,935
$
549,710
$
527,572
$
537,824
$
536,143
Interest-bearing deposits
1,806,885
1,792,796
1,641,558
1,678,172
1,622,282
Total deposits
2,340,820
2,342,506
2,169,130
2,215,996
2,158,425
Short-term borrowings
–
25,000
98,120
25,000
117,000
Secured borrowings
6,266
6,323
7,237
7,299
7,372
Other liabilities
33,561
34,843
30,466
28,966
30,883
Total liabilities
2,380,647
2,408,672
2,304,953
2,277,261
2,313,680
Shareholders’ equity
203,969
207,261
195,692
191,635
189,479
Total liabilities and shareholders’ equity
$
2,584,616
$
2,615,933
$
2,500,645
$
2,468,896
$
2,503,159
Average Quarterly Balances:
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Assets
Cash and cash equivalents
$
67,882
$
41,991
$
58,351
$
54,887
$
42,176
Investment securities
560,453
554,578
551,445
563,674
558,423
Restricted investments in bank stock
3,957
3,965
3,983
3,934
3,854
Loans and leases
1,797,023
1,763,254
1,707,598
1,696,669
1,664,905
Allowance for credit losses on loans
(20,050
)
(19,323
)
(19,171
)
(19,013
)
(19,222
)
Premises and equipment, net
36,065
36,219
35,433
34,591
33,629
Life insurance cash surrender value
57,919
57,525
55,552
54,796
54,449
Goodwill and core deposit intangible
20,529
20,602
20,677
20,759
20,844
Other assets
41,454
41,734
42,960
40,871
46,028
Total assets
$
2,565,232
$
2,500,545
$
2,456,828
$
2,451,168
$
2,405,086
Liabilities
Non-interest-bearing deposits
$
538,506
$
522,827
$
530,048
$
519,856
$
533,663
Interest-bearing deposits
1,769,265
1,702,187
1,670,211
1,647,615
1,616,826
Total deposits
2,307,771
2,225,014
2,200,259
2,167,471
2,150,489
Short-term borrowings
10,326
37,220
28,477
53,952
48,490
Secured borrowings
6,297
6,429
7,269
7,335
7,412
Other liabilities
34,695
31,999
30,734
32,434
30,745
Total liabilities
2,359,089
2,300,662
2,266,739
2,261,192
2,237,136
Shareholders’ equity
206,143
199,883
190,089
189,976
167,950
Total liabilities and shareholders’ equity
$
2,565,232
$
2,500,545
$
2,456,828
$
2,451,168
$
2,405,086
FIDELITY D & D BANCORP, INC. Selected Financial Ratios and Other Financial Data
Three Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Selected returns and financial ratios
Basic earnings per share
$
1.02
$
0.87
$
0.86
$
0.88
$
0.08
Diluted earnings per share
$
1.01
$
0.86
$
0.86
$
0.88
$
0.08
Dividends per share
$
0.40
$
0.38
$
0.38
$
0.38
$
0.38
Yield on interest-earning assets (FTE)*
4.68
%
4.68
%
4.58
%
4.52
%
4.36
%
Cost of interest-bearing liabilities
2.60
%
2.70
%
2.58
%
2.51
%
2.36
%
Cost of funds
2.00
%
2.08
%
1.96
%
1.93
%
1.79
%
Net interest spread (FTE)*
2.08
%
1.98
%
2.00
%
2.01
%
2.00
%
Net interest margin (FTE)*
2.78
%
2.70
%
2.71
%
2.69
%
2.66
%
Return on average assets
0.90
%
0.79
%
0.81
%
0.83
%
0.08
%
Pre-provision net revenue to average assets*
1.06
%
1.05
%
1.00
%
0.96
%
0.03
%
Return on average equity
11.26
%
9.89
%
10.44
%
10.71
%
1.10
%
Return on average tangible equity*
12.50
%
11.02
%
11.72
%
12.02
%
1.26
%
Efficiency ratio (FTE)*
65.48
%
65.33
%
66.47
%
67.56
%
63.74
%
Expense ratio
1.48
%
1.41
%
1.47
%
1.50
%
2.43
%
Years ended
Dec. 31, 2024
Dec. 31, 2023
Basic earnings per share
$
3.63
$
3.21
Diluted earnings per share
$
3.60
$
3.19
Dividends per share
$
1.54
$
1.46
Yield on interest-earning assets (FTE)*
4.62
%
4.18
%
Cost of interest-bearing liabilities
2.60
%
1.93
%
Cost of funds
1.99
%
1.44
%
Net interest spread (FTE)*
2.02
%
2.25
%
Net interest margin (FTE)*
2.72
%
2.81
%
Return on average assets
0.83
%
0.76
%
Pre-provision net revenue to average assets*
1.02
%
0.90
%
Return on average equity
10.58
%
10.56
%
Return on average tangible equity*
11.82
%
12.03
%
Efficiency ratio (FTE)*
66.19
%
62.67
%
Expense ratio
1.47
%
1.69
%
FIDELITY D & D BANCORP, INC. Selected Financial Ratios and Other Financial Data
Non-GAAP Measures
Three Months Ended
Twelve Months Ended
(dollars in thousands except per share data)
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Net income
$
5,835
$
468
$
20,794
$
18,210
Loss (gain) on the sale of available-for-sale debt securities, net of income taxes
–
5,109
–
5,110
Adjusted net income*
$
5,835
$
5,577
$
20,794
$
23,320
Adjusted basic earnings per share*
$
1.02
$
0.98
$
3.63
$
4.11
Adjusted diluted earnings per share*
$
1.01
$
0.97
$
3.60
$
4.08
Adjusted return on average assets*
0.90
%
0.92
%
0.83
%
0.97
%
Adjusted return on average tangible equity*
12.51
%
15.04
%
11.82
%
15.40
%
Other financial data
At period end:
(dollars in thousands except per share data)
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Assets under management
$
921,994
$
942,190
$
906,861
$
900,964
$
876,287
Book value per share
$
35.56
$
36.13
$
34.12
$
33.41
$
33.22
Tangible book value per share*
$
31.98
$
32.55
$
30.52
$
29.80
$
29.57
Equity to assets
7.89
%
7.92
%
7.83
%
7.76
%
7.57
%
Tangible common equity ratio*
7.16
%
7.19
%
7.06
%
6.98
%
6.79
%
Allowance for credit losses on loans to:
Total loans
1.09
%
1.09
%
1.10
%
1.11
%
1.12
%
Non-accrual loans
2.68x
2.77x
2.75x
5.31x
5.68x
Non-accrual loans to total loans
0.41
%
0.39
%
0.40
%
0.21
%
0.20
%
Non-performing assets to total assets
0.30
%
0.29
%
0.28
%
0.15
%
0.13
%
Net charge-offs to average total loans
0.03
%
0.02
%
0.03
%
0.01
%
0.04
%
Capital Adequacy Ratios
Total risk-based capital ratio
14.78
%
14.56
%
14.69
%
14.68
%
14.67
%
Common equity tier 1 risk-based capital ratio
13.60
%
13.38
%
13.52
%
13.47
%
13.42
%
Tier 1 risk-based capital ratio
13.60
%
13.38
%
13.52
%
13.47
%
13.42
%
Leverage ratio
9.22
%
9.30
%
9.30
%
9.15
%
9.15
%
* Non-GAAP Financial Measures – see reconciliations below
FIDELITY D & D BANCORP, INC. Reconciliations of Non-GAAP Financial Measures to GAAP
Reconciliations of Non-GAAP Measures to GAAP
Three Months Ended
(dollars in thousands)
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
FTE net interest income (non-GAAP)
Interest income (GAAP)
$
28,059
$
27,299
$
26,039
$
25,625
$
24,840
Adjustment to FTE
764
775
751
747
664
Interest income adjusted to FTE (non-GAAP)
28,823
28,074
26,790
26,372
25,504
Interest expense (GAAP)
11,685
11,868
10,922
10,682
9,939
Net interest income adjusted to FTE (non-GAAP)
$
17,138
16,206
$
15,868
15,690
15,565
Efficiency Ratio (non-GAAP)
Non-interest expenses (GAAP)
$
14,395
$
13,840
$
13,616
$
13,689
$
12,804
Net interest income (GAAP)
16,374
15,431
15,117
14,943
14,901
Plus: taxable equivalent adjustment
764
775
751
747
664
Non-interest income (GAAP)
4,847
4,979
4,615
4,572
(1,944
)
Less: (Loss) gain on sales of securities
–
–
–
–
(6,467
)
Net interest income (FTE) plus adjusted non-interest income (non-GAAP)
$
21,985
$
21,185
$
20,483
$
20,262
$
20,088
Efficiency ratio (non-GAAP) (1)
65.47
%
65.33
%
66.48
%
67.56
%
63.74
%
(1) The reported efficiency ratio is a non-GAAP measure calculated by dividing non-interest expense by the sum of net interest income, on an FTE basis, and adjusted non-interest (loss) income.
Tangible Book Value per Share/Tangible Common Equity Ratio (non-GAAP)
Total assets (GAAP)
$
2,584,616
$
2,615,933
$
2,500,645
$
2,468,896
$
2,503,159
Less: Intangible assets, primarily goodwill
(20,504
)
(20,576
)
(20,649
)
(20,728
)
(20,812
)
Tangible assets
2,564,112
2,595,357
2,479,996
2,448,168
2,482,347
Total shareholders’ equity (GAAP)
203,969
207,261
195,692
191,635
189,479
Less: Intangible assets, primarily goodwill
(20,504
)
(20,576
)
(20,649
)
(20,728
)
(20,812
)
Tangible common equity
183,465
186,685
175,043
170,907
168,667
Common shares outstanding, end of period
5,736,252
5,736,025
5,735,728
5,735,732
5,703,636
Tangible Common Book Value per Share
$
31.98
$
32.55
$
30.52
$
29.80
$
29.57
Tangible Common Equity Ratio
7.16
%
7.19
%
7.06
%
6.98
%
6.79
%
Pre-Provision Net Revenue to Average Assets
Income before taxes (GAAP)
$
6,661
$
5,760
$
5,701
$
5,751
$
107
Plus: Provision for credit losses
165
810
415
75
47
Total pre-provision net revenue (non-GAAP)
6,826
6,570
6,116
5,826
154
Total (annualized) (non-GAAP)
$
27,157
$
26,423
$
24,600
$
23,432
$
609
Average assets
$
2,565,232
$
2,500,545
$
2,456,828
$
2,451,168
$
2,405,086
Pre-Provision Net Revenue to Average Assets (non-GAAP)
1.06
%
1.05
%
1.00
%
0.96
%
0.03
%
FIDELITY D & D BANCORP, INC. Reconciliations of Non-GAAP Financial Measures to GAAP
Reconciliations of Non-GAAP Measures to GAAP
Years ended
(dollars in thousands)
Dec. 31, 2024
Dec. 31, 2023
FTE net interest income (non-GAAP)
Interest income (GAAP)
$
107,022
$
93,835
Adjustment to FTE
3,036
2,850
Interest income adjusted to FTE (non-GAAP)
110,058
96,685
Interest expense (GAAP)
45,157
31,788
Net interest income adjusted to FTE (non-GAAP)
$
64,901
64,897
Efficiency Ratio (non-GAAP)
Non-interest expenses (GAAP)
$
55,541
$
51,870
Net interest income (GAAP)
61,865
62,047
Plus: taxable equivalent adjustment
3,036
2,850
Non-interest income (GAAP)
19,013
11,405
Less: (Loss) gain on sales of securities
–
(6,468
)
Net interest income (FTE) plus non-interest income (non-GAAP)
$
83,914
$
82,770
Efficiency ratio (non-GAAP) (1)
66.19
%
62.67
%
(1) The reported efficiency ratio is a non-GAAP measure calculated by dividing non-interest expense by the sum of net interest income, on an FTE basis, and adjusted non-interest (loss) income.
Pre-Provision Net Revenue to Average Assets
Income before taxes (GAAP)
$
23,873
$
20,256
Plus: Provision for credit losses
1,465
1,327
Total pre-provision net revenue (non-GAAP)
$
25,338
$
21,583
Average assets
$
2,493,659
$
2,405,096
Pre-Provision Net Revenue to Average Assets (non-GAAP)
Today at noon, Parliament will mark International Holocaust Remembrance Day with a special address by Corrie Hermann at a plenary session in Brussels.
European Parliament President Roberta Metsola will open the solemn sitting to mark the International Holocaust Remembrance Day (27 January) at 12.00. It will be followed by a musical performance of Pál Hermann’s concerto.
Corrie Hermann will then address MEPs and speak about the story of her father, Hungarian-born cellist and composer Pál Hermann whom the Nazis murdered in 1944. The music performance will feature his original Gagliano cello.
After MEPs have observed a minute’s silence, the ceremony will end with a musical performance of “Kaddish” by Maurice Ravel.
27 January marks the 80th anniversary of the liberation of Auschwitz.
Born on 27 March 1902 in Budapest, Pál Hermann was a student of Béla Bartók and considered one of the best cellists of his era. He moved to Berlin in the 1920s and gave concerts all over Europe on his Gagliano cello. In 1933, Hermann fled to Belgium and France. Upon his arrest by the Nazis in Toulouse in 1944, he managed to throw a note from the train, asking for the Gagliano to be saved from the Nazis. The note was found and a friend of Hermann’s cycled 100 kilometres to rescue the instrument. He broke into Hermann’s house, replaced the Gagliano with a lesser instrument and escaped with the Gagliano strapped onto his back.
Hermann was murdered by the Nazis in a camp in the Baltics in 1944. His cello was rediscovered 80 years later being played by a competitor in the Queen Elisabeth Competition. Pál Hermann’s daughter, Corrie (Cornelia) Hermann, now aged 92, will tell her father’s story, his tragic fate and his work during the commemorative plenary session.
United States electric vehicle, or EV, maker Tesla is challenging the European Union’s decision to slap hefty import tariffs on China-made electric autos.
The legal action by the company, which is owned by technology guru Elon Musk, is similar to court challenges launched last week by German automaker BMW and Chinese carmakers, including BYD Auto, SAIC Motor, and Geely. Chinese industry body the China Chamber of Commerce for Import and Export of Machinery and Electronic Products has also launched a legal challenge in the EU’s courts. And China’s government has filed a complaint about the bloc’s tariffs with the World Trade Organization.
The European Court of Justice confirmed Tesla’s legal challenge on Monday.
Olof Gill, the EU’s trade spokesperson, told Agence France-Presse: “We take note of these cases and we look forward to defending ourselves in court as necessary.”
Tesla’s legal challenge is in response to the EU introducing tariffs at the end of October of 7.8 percent on Tesla’s China-made vehicles. The bloc has also set tariffs of up to 35.3 percent on other China-made EVs. The new tariffs come on top of a 10 percent standard import tariff that was already in place for electric vehicle imports into the EU.
The bloc said it introduced the China-specific tariffs in response to what it says are unfair subsidies that include low-interest loans, cheap land, and supplier discounts, claims China has strongly denied.
Tesla’s legal challenge will be heard in the EU’s General Court. Any verdict handed down there could then be challenged in the European Court of Justice.
The court case comes against the backdrop of deteriorating relations between the EU and Musk, who is the world’s richest individual.
Musk, who owns the social media platform X, has spoken out strongly against the bloc’s efforts to regulate internet activity. He has also angered the EU by throwing his support behind far-right political parties, including Germany’s Alternative for Germany.
Critics have said Musk’s political activism may have contributed to Tesla’s recent decline in Europe, with the brand seeing its sales fall by 13 percent, year-on-year, in 2024, to 242,945 units, according to the European Automobile Manufacturers Association. Around 28 percent of Chinese-made electric automobiles imported into the EU in 2023 were Teslas.
Around one-fifth of all electric cars sold in the EU – some 300,000 units – are made in China.
The court case is likely to take around 18 months to complete.
Tesla has also called on the Canadian government to scrap its 100 percent tariff on electric cars imported from China.
Revenues up +5% to €41.2m Order book at end-2024: €21.7m
Bezons (France), January 29, 2025 – 8:00 am (CET) – RIBER, a global market leader for MBE equipment serving the semiconductor industry, is reporting its full-year revenues for 2024.
Change in revenues
€m
2024
2023
Change
First quarter
4.5
3.7
+20%
Second quarter
9.3
8.5
+10%
Third quarter
4.7
4.0
+19%
Fourth quarter
22.7
23.1
-2%
Full year
41.2
39.2
+5%
€m
2024
2023
Change
Systems
31.0
29.0
+7%
Services and accessories
10.2
10.3
-1%
Full year
41.2
39.2
+5%
2024 full-year revenues amounted to €41.2m, up 5% from 2023. This performance is fully aligned with the announced ambitions. In the fourth quarter of 2024, business remained strong, with revenues remaining steady despite a high basis of comparison with the fourth quarter of 2023.
This commercial dynamism demonstrates the strengthening of RIBER’s positions in the MBE market for both research and industrial production.
MBE systems revenues reached €31.0m, up 7%. A total of 12 systems were delivered over the year, compared with 13 in 2023.
Revenues for services and accessories came to €10.2m, virtually unchanged from 2023.
The geographical breakdown of revenues for 2024 full-year was as follows: Asia 57.3%, Europe 35.7%, and North America 7.1%.
Order book developments
At December 31 (€m)
2024
2023
Change
Systems
16,7
20.2
-17%1
Services and accessories
5,0
6.1
-18%
Full year
21,7
26.3
-17%
At December 31, 2024, the consolidated order book remained at a solid level of €21.7m, reflecting the sustained deliveries at the end of the year.
The order book for MBE systems came to €16.7m with a total of 7 systems, including 5 production machines. It increases after factoring in the two orders announced in January 2025 for a production system in Europe and a research system in the USA, both scheduled for delivery in 2025.
Orders for services and accessories amounted to €5.0m.
Outlook
Given its solid revenue growth, RIBER reaffirms its objective of achieving further earnings growth in 2024.
In an environment marked by accelerating technological innovation and growing demand for advanced semiconductor materials, RIBER is pursuing its ambitious growth strategy based on enhancing its technological leadership and expanding its markets through the integration of the silicon photonics sector and the development of high value-added solutions for quantum materials.
For 2025, given the composition of the order book at December 31, 2024, and the outlook for orders to be delivered this year, RIBER is forecasting further growth in revenues compared with 2024.
Next date: RIBER will announce its 2024 full-year earnings on April 9, 2025 (before start of trading).
About RIBER
Founded in 1964, RIBER is the global market leader for MBE – molecular beam epitaxy – equipment. It designs and produces equipment for the semiconductor industry, and provides scientific and technical support for its clients (hardware and software), maintaining their equipment and optimizing their performance and output levels. Accelerating the performance of electronics, RIBER’s equipment performs an essential role in the development of advanced semiconductor systems that are used in numerous applications, from information technologies to photonics (lasers, sensors, etc.), 5G telecommunications networks and research, including quantum computing.
RIBER is a BPI France-approved innovative company and is listed on the Euronext Growth Paris market (ISIN: FR0000075954). www.riber.com
A national Palestine advocacy group has hit back at critics of its “genocide hotline” campaign against soldiers involved in Israel’s war against Gaza, saying New Zealand should be actively following international law.
“Why is concern for the sensitivities of soldiers from a genocidal Israeli campaign more important than condemning the genocide itself?,” asked PSNA national chair John Minto in a statement.
The Minister of Foreign Affairs Winston Peters, the Chief Human Rights Commissioner Stephen Rainbow and the New Zealand Jewish Council have made statements “protecting” Israeli soldiers who come to New Zealand on “rest and recreation” from the industrial-scale killing of 47,000 Palestinians in Gaza until a truce went into force on January 19.
“We are not surprised to see such a predictable lineup of apologists for Israel and its genocide in Gaza from lining up to attack a PSNA campaign with false smears of anti-semitism,” Minto said.
He said that over 16 months Peters had done “absolutely nothing” to put any pressure on Israel to end its genocidal behaviour.
“But he is full of bluff and bluster and outright lies to denounce those who demand Israel be held to account.”
Deny illegal settler visas Minto said that if Peters was doing his job as Foreign Minister, he would not only stop Israeli soldiers coming to Aotearoa New Zealand — as with Russian soldiers in the Ukraine war — he would also deny visas to any Israeli with an address in an illegal Israeli settlement in the Occupied Palestinian Territories.
“Our campaign has nothing to do with Israelis or Jews — it is a campaign to stop Israeli soldiers coming here for rest and recreation after a campaign of wholesale killing of Palestinians in Gaza,” Minto said.
“To imply the campaign is targeting Jews is disgusting and despicable.
“Some of the soldiers will be Druse, some Palestinian Arabs and others will be Jews.”
The five-year-old Palestinian girl Hind Rajab, shot 355 times by Israeli soldiers on 29 January 2024. Image: @Onlyloren/Instagram
Israeli soldiers are facing a growing risk of being arrested abroad for alleged war crimes committed in Gaza, with around 50 criminal complaints filed so far in courts in several countries around the world.
Earlier this month, a former Israeli soldier abruptly ended his holiday in Brazil and was “smuggled” out of the country after a Federal Court ordered police to open a war crimes investigation against him. The man fled to Argentina.
A complaint lodged by the Belgium-based Hind Rajab Foundation (HRF) included more than 500 pages of court records linking the suspect to the demolition of civilian homes in Gaza.
‘Historic’ court ruling against soldier The foundation called the Brazilian court’s decision “historic”, saying it marked a significant precedent for a member country of the International Criminal Court (ICC) to enforce Rome Statute provisions domestically in the 15-month Israeli war on Gaza.
The foundation is named in honour of five-year-old Palestinian girl Hind Rajab who was killed on 29 January 2024 by Israel soldiers while pleading for help in a car after her six family members were dead.
According to The New Arab, the foundation has so far tracked and sent the names of 1000 Israeli soldiers to the ICC and Interpol, and has been pursuing legal cases in a number of countries, including Belgium, Brazil, Cyprus, France, Thailand, Sri Lanka, Thailand, the Netherlands, and the United Kingdom.
In November, the ICC issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defence Minister Yoav Gallant, together with a former Hamas commander, citing allegations of war crimes and crimes against humanity.
Minto accused the New Zealand Jewish Council of being “deeply racist” and said it regularly “makes a meal of false smears of anti-semitism”.
“It’s deeply problematic that this Jewish Council strategy takes attention away from the real anti-semitism which exists in New Zealand and around the world.
“The priority of the Jewish Council is to protect Israel from criticism and protect it from accountability for its apartheid policies, ethnic cleansing and genocide.
nited Nations Secretary-General António Guterres announced today the appointment of Lieutenant General Ulisses De Mesquita Gomes of Brazil as Force Commander of the United Nations Organization Stabilization Mission in the Democratic Republic of the Congo (MONUSCO).
Lieutenant General Gomes succeeds Acting Force Commander Major General Khar Diouf of Senegal, to whom the Secretary-General is grateful for his dedication and service.
Lieutenant General Gomes brings to the position 35 years of experience in crisis response, conflict management and peacekeeping. He has both operational and strategic expertise as well as diplomatic experience. His last position was with his national military, where he served as Deputy Chief of Army Logistics Command. Prior to that, he was the Brazilian Military Attaché to the United States of America.
He previously served as the 7th Infantry Brigade Commander in Brazil, the Defence Adviser of the Minister of Strategic Affairs of the Brazilian Government and the Chief of Planning and Operations of the 11th Infantry Brigade. His international experience includes his deployment with the United Nations Stabilization Mission in Haiti (MINUSTAH) (2008-2009) and his appointment as the Chief of the Current Military Operations Service and Policy & Doctrine Team in the Office of Military Affairs of the UN Department of Peace Operations (2017-2019).
Lieutenant General Gomes holds a bachelor’s degree in law from the Federal University, Brazil, and a master’s degree in military science and law from the Brazilian Army Staff College. He is fluent in English, French, Portuguese and Spanish.
US President Donald Trump isn’t happy about the way some countries are taxing American citizens and companies. He has made clear he’s willing to retaliate, threatening to double taxes for their own citizens and companies.
Can Trump really do that, unilaterally, as president? It turns out he can, under a 90-year-old provision of the US tax code – Section 891.
In an executive memo signed on January 20 outlining his “America First Trade Policy”, Trump instructed US Treasury to:
investigate whether any foreign country subjects United States citizens or corporations to discriminatory or extraterritorial taxes pursuant to Section 891 of Title 26, United States Code.
A sweeping power
Section 891 of the US Internal Revenue Code is short, but it is in sweeping terms.
If the president finds that US citizens or corporations are being subjected to “discriminatory or extraterritorial taxes” under the laws of any foreign country, he “shall so proclaim” this. US income tax rates on the citizens or corporations of that country are then automatically doubled.
The extra tax that could be collected is capped at 80% of the US taxable income of the taxpayer. The president can revoke a proclamation, if the foreign country reverses its “discriminatory or extraterritorial” taxation.
Section 891 is an extraordinary provision – but it has never been applied. As far as I know, no other country has legislated such a rule. Importantly, it would only apply to a person or business subject to income taxation by the US.
Take, for example, a foreign national earning a wage in the US. If this individual’s home country became subject to a proclamation under Section 891, their individual tax rate in the US would be doubled – to as much as 74%.
A foreign company earning taxable profits in the US would face a doubling of the company tax rate from 21% to 42%.
A bit of history
A version of Section 891 has been in the US tax code since 1934, an earlier troubled time of tax disputes and economic depression.
It was signed into law by Democratic President Franklin D. Roosevelt on May 10 1934, amid a tax dispute between the US and France.
US President Franklin D. Roosevelt signed Section 891 into law in 1934, putting pressure on France to end a tax dispute. Vincenzo Laviosa/Wikimedia Commons
According to US tax historian Joseph Thorndike, the move followed attempts by France to levy additional taxes on US companies operating there, beginning in the mid-1920s.
France had tried to use an 1873 law to tax US companies operating in France on profits earned in the parent company back in the US, and in other subsidiaries around the world, not just the French company profits.
The aim was to counter international profit-shifting, which could be used to reduce the tax payable by US subsidiaries operating in France by claiming deductions or shifting income to other group companies outside France.
The dispute was long-standing and France tried to assess taxes going back decades for some US companies. The potentially massive tax bill (it seems the tax was never actually collected) became a geopolitical issue, and the companies asked the US government to intervene on their behalf.
Thorndike explains that a bilateral tax treaty was negotiated between the US and France to remedy this “double tax” situation. But the French legislature refused to ratify it.
In retaliation, US Congress passed Section 891, and six months later, France ratified its bilateral tax treaty with the US.
Parallels with today
In 1934, there were no digital multinational enterprises like Meta or Google. But that tax dispute nevertheless has parallels with modern concerns about taxing companies internationally.
The French government was trying, with a rather heavy hand, to counter international profit-shifting by large US multinationals.
Section 891 was re-enacted in later US tax codes, up to today, with minor amendments and no attempt to invoke it. It has remained in the background as a potential exercise of US fiscal and market power, supported by both sides of US politics.
Tax professor Itai Grinberg, who worked in the Biden administration on the OECD tax deal, suggested it could be applied to the European Union decision that taxes Apple in Ireland.
The US tech giants are only the latest in a long line of powerful American multinational corporations. Tada Images/Shutterstock
What might Trump do?
President Trump has specifically targeted the OECD global tax negotiations with this threat, just a month after Australia has legislated the global minimum tax under “Pillar Two” of the OECD Global Tax Deal.
The OECD deal aims to ensure large multinational enterprises pay a minimum 15% effective tax rate in all the jurisdictions in which they operate, by applying a top-up tax and under-taxed profit tax.
Trump asserted in a memorandum that the OECD Global Tax Deal is “extraterritorial”, instructing the US Secretary of the Treasury and the US Trade Representative to investigate it.
Could Australia be singled out?
Trump’s memorandum also ordered an investigation into “other discriminatory foreign tax practices” that may harm US companies.
This includes whether any foreign countries are not complying with their US tax treaties or have, or are likely to put in place, any tax rules that “disproportionately affect American companies”.
Under this proposal, digital platforms (many of which are US-owned) would have to pay a new levy, which could be offset if they negotiate or renew deals with Australian news media publishers to pay for hosting news content.
Section 891 could apply to such taxes if they were found by Trump to be “discriminatory” against US companies. What “discriminatory” means is not clear.
Its been suggested that foreign citizens or companies could be protected from Section 891 by their country’s tax treaty with the US, under the standard approach that a later treaty prevails over an older code section. But Australia’s tax treaty with the US took effect in 1983, before the most recent re-enactment of Section 891 in the US tax code.
Miranda Stewart receives funding from the Australian Research Council. Miranda is on the Permanent Scientific Committee of the International Fiscal Association.
Source: The Conversation (Au and NZ) – By Vincent Hurley, Lecturer in Criminology. Police and policing. Dept of Security Studies & Criminology, Macquarie University
When you watch the news, one phrase usually comes up as soon as crime is mentioned: “police have established a crime scene”.
If you’re a fan of the forensics crime drama CSI: Crime Scene Investigation, it will conjure up images of police waving a blue, fluorescent UV light in a darkened room looking for blood, saliva, fingerprints, footprints or tooth impressions.
CSI has influenced an entire generation – this year, the franchise will celebrate its 25th anniversary. But the reality of crime scene investigation is far more complex.
As a criminology lecturer and ex-police officer, I know a thing or two about crime scenes, having managed hundreds of them. I have even been a crime scene myself. Here’s what they really entail.
There’s usually more than one crime scene
In the early 20th century, French forensic science pioneer Edmond Locard noted it’s impossible for criminals to act “without leaving traces of this presence”. No matter where a criminal steps or what they touch, they leave behind, even unconsciously, evidence that serves as a silent witness against them.
The idea that criminals will leave something behind at the crime scene while taking something with them is known today as Locard’s principle.
Crime scenes are incredibly diverse. They don’t just involve the physical location. A person’s body and any objects found in relation to the crime are also part of a crime scene.
The primary crime scene is where the event took place – for example, where a murder, arson attack or drive-by shooting occurred.
There will be several additional crime scenes, too. In the course of the investigation, a second crime scene might be established where the criminal planned the crime. If they dumped a getaway vehicle, that’s a third crime scene. If they stashed a weapon, clothes or other objects in a safe house after the crime, that’s a fourth crime scene.
A fifth crime scene will be established when the criminal is arrested – they themselves are also a crime scene. Their hair, clothing and fingernails will be tested for various residues, such as the skin or blood of a victim, or even illicit substances if the crime involves drug trafficking.
Lastly, the victim is a crime scene, too. They may have body fluids, skin, hair and other material from the criminal on them.
In my detective career, I myself have been a crime scene when I found a badly injured abduction victim who collapsed in my arms. At that point, traces of the offender’s blood and hair transferred onto my clothing. I had to take the clothes off and they were kept as evidence.
Shows like CSI often portray crime scenes as neat and clear cut, with evidence easily obtained.
In reality, crime scenes are chaotic. They are full of clutter and the police don’t know what’s relevant and what’s not.
During a crime scene search, police have to speculate about what happened, as often there are no eyewitnesses. A bullet casing or a bloody knife would be obvious. But what of the more common household items in the house or room? Who owns the shirt or jumper? Why is the bedroom in disarray, is that normal? What did the criminal touch or not touch? Was there just one criminal or two? What belongs to the victim?
Unlike on TV, police don’t always know what they are looking for because often they don’t know how the crime occurred. The cause of a death can be obvious, but how it unfolded is not.
Crime scenes are fragile
With a murder on a TV show, the CSI team usually arrives at a home or an outdoor crime scene, surrounded by crime scene tape. The first thing they do is lift the tape and walk straight to the body.
This is the worst possible crime scene practice.
The detectives would be walking directly on and over the same entry or exit path the offenders used. This would destroy fragile microscopic residues of blood, dirt or plant vegetation.
In reality, walking in and out of a crime scene this way does not happen. Prior to entering any crime scene, police look around and try to figure out which way the offender may have come and gone.
Once weighing up the advantages and disadvantages of each option, they’ll pick a specific entry and exit point, and stick to that until the scene has been completely examined.
Lifting the police tape and walking straight to the body is bad practice – the tape is there for a reason. Gordenkoff/Shutterstock
A systematic search – and not just for DNA
Crime scenes are also searched in different ways.
One way to ensure no evidence is missed is with a “grid and height” search. This means searching one square metre at a time. As the police get closer to the walls of the room, they start looking from the floor up to the height of their knees.
Once this is done, they go from their knee to their waist, then from their waist to their shoulder, then their shoulder to the top of their head, and then from the top of their head to a metre above it – until they reach the ceiling. Then they examine the ceiling.
Police don’t look solely for the holy grail of DNA. Rather, they are trying to piece together a jigsaw puzzle of what happened, why it happened, and what the criminal unintentionally left behind.
Decades of forensic TV dramas have resulted in the “CSI effect” – the idea that finding, collecting and analysing evidence at a crime scene is straightforward, and that the evidence is infallible. This is not so. But shows like CSI have also spawned a generation of people interested in becoming real crime scene investigators and forensic scientists.
Vincent Hurley 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.
From: Housing, Infrastructure and Communities Canada: https://www.canada.ca/en/housing-infrastructure-communities/news/2025/01/federal-government-invests-in-improved-flood-protection-in-the-village-of-tahsis.html (can01.safelinks.protection.outlook.com)
French version: https://www.canada.ca/fr/logement-infrastructures-collectivites/nouvelles/2025/01/le-gouvernement-federal-investit-dans-lamelioration-de-la-protection-contre-les-inondations-dans-le-village-de-tahsis.html (can01.safelinks.protection.outlook.com)
Improvements to flood protection infrastructure will help the Village of Tahsis become more resilient to riverbank and coastal floods after a combined investment of more than $2.8 million from the federal, provincial and local governments.
This project involves constructing two flood walls and an earth berm along North Maquinna Drive from north of Rogers Street to Head Bay Road to safeguard the village from extreme-weather events. These new protective measures will include internal drainage improvements such as catch basins, leads and flap gates along the roads. There will also be rock or other material installed to protect shoreline structures against water, wave or ice erosion and to stabilize the riverbank.
These upgrades will protect existing local public and private assets and essential infrastructure such as the public works yard, the fire hall, water supply and well pumping station, as well as schools, which are currently at risk of flooding from storms and rising sea levels.
Quotes:
“Our government is taking action to increase communities’ resilience and support people’s safety in the face of extreme weather events. Effective flood prevention measures help protect people, property and livelihoods. The Government of Canada will continue to work with our partners to mitigate the effects of natural disasters so that Canadians can continue to adapt in a changing climate.”
The Honourable Harjit Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada, on behalf of the Honourable Nathaniel Erskine-Smith, Minister of Housing, Infrastructure and Communities
“In Tahsis and communities throughout the province, we’re working to build a stronger and climate-ready future for everyone. These improvements in the Village of Tahsis will help protect people – including young students – and critical infrastructure from the growing threat of flooding for years to come.”
The Honourable Kelly Greene, B.C. Minister of Emergency Management and Climate Readiness
“On behalf of Tahsis council and the entire community, I thank the federal and provincial governments for recognizing the importance of protecting small, remote communities, like Tahsis, from climate-change impacts. The funding for this project means our residents, businesses, school and day care, first responders and critical infrastructure will be protected from future flood events.”
Martin Davis, Mayor of the Village of Tahsis
Quick Facts:
The federal government is investing $1,156,861 through the Green Infrastructure Stream of the Investing in Canada Infrastructure Program.
The Government of British Columbia is investing $963,954, and the Village of Tahsis is contributing $771,337, with support from the provincial government.
The Government of Canada previously announced funding toward the first two phases of this project in June 2021.
The Green Infrastructure Stream helps build greener communities by contributing to climate change preparedness, reducing greenhouse gas emissions, and supporting renewable technologies.
Including today’s announcement, over 157 infrastructure projects under the Green Infrastructure Stream have been announced in British Columbia, with a total federal contribution of more than $600 million and a total provincial contribution of more than $428 million.
Under the Investing in Canada Plan, the federal government is investing more than $180 billion over 12 years in public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and Canada’s rural and northern communities.
Learn More:
Investing in Canada: Canada’s Long-Term Infrastructure Plan: https://housing-infrastructure.canada.ca/plan/icp-publication-pic-eng.html
Green Infrastructure Stream: https://housing-infrastructure.canada.ca/plan/gi-iv-eng.html
Housing and Infrastructure Project Map: https://housing-infrastructure.canada.ca/gmap-gcarte/index-eng.html
Source: United Kingdom – Executive Government & Departments
A report by by the World Weather Attribution (WWA) looks at climate change and the likelihood of wildfire disaster in LA.
Prof Gabi Hegerl FRS, Professor of Climate System Science, University of Edinburgh, said:
“Given the short timeline that WWA aims for this is a very thorough analysis of the role of climate change and also El Nino conditions contributing to the fires in Los Angeles. The authors determine several factors that have contributed to this disaster, from severely dry conditions to high fire weather indices, late arrival of winter rains etc. Several of these factors point to high fire risk, both due to El Nino conditions and global warming. Overall the paper finds that climate change has made the Los Angeles fires more likely despite some statistical uncertainty. This is a carefully researched result that should be taken seriously. El Ninos come and go, but as long as the climate warms we will continue to see increasing risk of this hazard. Adapting to it will help, and the authors make some suggestions, but this example is one of many of how climate change increases the risk of deadly and costly disasters.”
Dr Karsten Haustein, Climate Scientist, Leipzig University, said:
“I remember a stark and dire warning of an US-based weather forecaster just before the fires. Sadly, he was absolutely spot on. The extremely hazardous mix of dry and windy conditions led to unprecedented destruction, displacing tens of thousands of people and costing billions of dollars. Naturally, folks want to know what role climate change played in this catastrophic disaster.
“Following two very rapid attribution studies by teams from UCLA (California) and IPSL-CNRS (France), now WWA has released their comprehensive rapid attribution study. The former two have already highlighted that climate change did play a role and made the fires more likely. Especially the so-called ‘hydroclimate whiplash’, where wetter than average years are followed by drier than average years, contributed to the devastating outcome. While these year-to-year variations are normal given the strong ENSO teleconnection in the region (El Niño leads to wetter conditions and vice versa for La Niña), now wet gets wetter and dry gets drier for longer.
“Hence one of the key messages of the WWA study is that the dry season in the region lasts longer than it used to be (23 days), increasing the risk for very dry conditions to overlap with strong (St Ana) winds, which occur mainly in winter. While WWA does not find increasing wind speeds during St Ana events, they do find that the risk for such a dry season has already increased by 35%, with a 6% increase in fire intensity.
“WWA highlights that a more in-depth analysis is required to make conclusive statements about changes in atmospheric circulation that favour such cut-off lows. But the thermodynamic climate change fingerprint (drier and warmer) is clearly present. So is the problem of exposure in the region. Houses are not build to withstand fire. Instead, they are fuelling the fires. A tinderbox when combined with built up vegetation from the preceding two wet seasons. All these aspects are meticulously discussed in WWA’s new attribution study.
“Their press release accurately summarises the scientific findings. The team involved was larger than ever, including the UCLA colleagues mentioned above. All methods used to conduct the analysis are peer-reviewed. The results do confirm prior research such as, for example, the hypothesised ‘hydroclimate whiplash’. The team also mentions the deficits of global climate models to simulate such wind events, which is why no attribution statement regarding the frequency of occurrence or magnitude of the St Ana winds is made.”
‘Climate change increased the likelihood of wildfire disaster in highly exposed Los Angeles area’ by Clair Barnes et al. was published by World Weather Attribution at 22:00 UK time on Tuesday 28 January 2025.
Declared interests
Prof Gabi Hegerl: “No competing interests, occasional collaboration with some of the study’s authors.”
KOF has collaborated with the Neue Zürcher Zeitung (NZZ) newspaper to survey economists on fundamental and current economic questions. The results show that they reject state intervention such as rent controls and trade tariffs. On the other hand, opinions are divided along political lines when it comes to questions about easing Switzerland’s debt brake or subsidising environmentally friendly technologies.
The December 2024 survey consisted of 19 statements from various economic subject areas. Academic research economists based in Switzerland were questioned.
A total of 177 responses were received, which represents a response rate of 21 per cent.
The respondents* were also asked about three characteristics: their age, gender and political affiliation. As far as political affiliation is concerned, the proportion of respondents defining themselves as being (more) to the left (36 per cent) is higher than the proportion defining themselves as (more) to the right (20 per cent).
A large proportion (44 per cent) place themselves politically in the centre. However, it should be noted that 18 per cent of respondents did not answer the question about their political affiliation. A comparison of these characteristics shows that women and young people (tend to) position themselves on the left politically.
This is consistent with surveys (in German, French or Italian) conducted by the Federal Statistical Office (FSO) among the Swiss population as a whole. The KOF-NZZ survey shows that political affiliation has a significant influence on the responses to 13 out of the 19 questions in the survey.
Competition and regulation: mostly sceptical about intervention
Four questions about market intervention show that the economists surveyed tend to favour only little regulation. A majority (71 per cent) are of the opinion that rent controls (tend to) reduce the quantity and quality of housing supply. Respondents who tend to define themselves politically as right-wing overwhelmingly agree with this statement (93 per cent).
Among left-leaning economists, around half (51 per cent) agree (25 per cent of them are undecided, i.e. neither agree nor disagree). There is unanimity on the question of whether tariffs and import quotas reduce a country’s material prosperity. A total of 81 per cent of economists (tend to) agree with this statement. This figure rises to 93 per cent among those with a right-wing political affiliation and is 70 per cent among those on the left.
The view that wage controls and/or price controls should (preferably) not be used as a means of combatting inflation is very widely held among the survey respondents, with 83 per cent agreeing with this opinion (93 per cent of right-wing respondents, 81 per cent of left-wing respondents and 86 per cent of those in the centre).
By contrast, the responses to the question of whether a binding minimum wage increases unemployment among young people and unskilled workers are less clear-cut: overall, 44 per cent (tend to) agree with this statement while 38 per cent (tend to) disagree.
A high proportion (18 per cent) neither agree nor disagree with the statement. The political affiliations are divided in their assessment of this question. While the majority of (more) right-wing respondents (72 per cent) agree with the statement that unemployment will (tend to) increase, the corresponding figure is 50 per cent for respondents from the centre. In contrast, the majority of (more) left-wing respondents (tend to) reject this statement (60 per cent).
Regulation of large Swiss banks: too-big-to-fail amendment controversial
Since Credit Suisse was acquired by UBS, the regulation of big banks has once again become the focus of public debate. Economists do not agree on whether it would be possible in principle to amend too-big-to-fail regulation, so that a major Swiss bank could be wound up without any risk to taxpayers in the event of a crisis. 47 per cent (tend to) agree with this statement, 14 per cent neither agree nor disagree, and 39 per cent (tend to) disagree. The influence of political affiliation on response behaviour is not very pronounced here.
Public debt: considered too high in many advanced economies
The COVID-19 pandemic has led to a sharp increase in government debt in many countries. This has triggered a broad debate about the extent to which public debt is too high in several countries. Overall, around two-thirds of survey respondents (tend to) consider it to be too high in many advanced economies. The majority of economists who define themselves as politically (more) to the right or in the centre agree with this statement (86 per cent and 75 per cent respectively). The situation is different in the case of respondents who define themselves politically as (more) to the left: 44 per cent of them agree with this statement, 30 per cent neither agree nor disagree, and 26 per cent disagree.
In Switzerland, the government spending ratio – i.e. public spending as a share of gross domestic product – is not considered to be too high. More than two-thirds of survey respondents reject the statement that the government spending ratio is too high. This view is fairly widespread across the political spectrum, although not equally pronounced in all cases. 48 per cent of respondents who define themselves as (more) right-wing reject this statement, 11 per cent are undecided and 41 per cent agree. The majority of other political affiliations reject this statement (59 per cent of respondents who define themselves as centrists and 90 per cent of those on the left).
The economists agree less about Switzerland’s debt brake. Overall, 37 per cent agree with the statement that the debt brake should be relaxed, 17 per cent are undecided and 46 per cent disagree. Of the (more) right-wing economists, 71 per cent disagree with the statement. Of those respondents who define themselves politically as centrists, 45 per cent disagree and 33 per cent agree. And, of the economists who see themselves as (more) left-wing, 47 per cent agree and 34 per cent disagree.
Inequality: wealth distribution too unequal according to around half of respondents
The economists were also asked about their views on inequality in Switzerland. A distinction was made here between disposable income and wealth. 41 per cent of respondents stated that disposable incomes should (probably) be distributed more equally. On the other hand, 36 per cent (tend to) reject this statement. However, the answers differed considerably depending on the respondents’ political preferences. 71 per cent of those with (more) left-wing leanings agree with the statement that incomes should be distributed more equally, while the same proportion of those with (more) right-wing leanings reject this statement. There is a mixed picture among economists who see themselves politically as centrists, with 30 per cent agreeing and 41 per cent disagreeing with the statement.
56 per cent consider the distribution of wealth to be (probably) too unequal. 29 per cent (tend to) reject this statement. This means that wealth inequality in Switzerland is viewed more critically than income inequality. However, the influence of political affiliation can be felt here in a similar way to the issue of income inequality. 75 per cent of right-wing respondents disagree with the statement that wealth should be distributed more equally, whereas 88 per cent of left-wing respondents agree with it. 53 per cent of those in the centre agree with the statement.
Causes of inflation: monetary explanation widespread
As far as the causes of inflation are concerned, a distinction can be made between monetarist and non-monetarist (e.g. Keynesian, supply-side or structural) explanations. Monetarists believe that inflation is a monetary phenomenon. This means that inflation – particularly beyond the short term – is a consequence of an expansion of the money supply that is greater than the increase in the real production of goods and services. Keynesian inflation theory, on the other hand, focuses on the Phillips curve, which shows that unemployment and the inflation rate are negatively correlated in the short term.
Both theories tend to meet with approval in the survey. However, approval of the monetarist approach is slightly higher: 58 per cent agree with the statement that inflation is (more likely to be) a monetary phenomenon. In contrast, just under half of respondents (51 per cent) are convinced that unemployment can be reduced in the short term by a higher inflation rate. Views on monetarism differ according to the respondents’ political affiliations: 76 per cent of the (more) right-wing respondents (tend to) agree with monetarism theory, while 68 per cent of economists in the centre of the political spectrum (tend to) agree. Of those respondents on the (more) left wing of the spectrum, 34 per cent (tend to) agree and 47 per cent (tend to) disagree. In contrast, the approval rates for the short-term Phillips curve do not differ greatly across the political spectrum (left: 50 per cent, centre: 61 per cent, right: 45 per cent).
Environmental policy: disagreement over industrial subsidies
The economists surveyed also commented on key environmental policy issues. There is disagreement on the question of whether the transition to green technologies in Switzerland should be subsidised by industry. While a total of 45 per cent of the economists surveyed were (mainly) in favour of this, 41 per cent were (mainly) against this approach. A further 14 per cent were undecided. The respondents’ political affiliations play a significant role in this question.
Industrial subsidies are rejected by 71 per cent of respondents who define themselves as (more) politically right-wing, as do 46 per cent of those in the political centre. In contrast, 65 per cent of respondents on the (more) left wing of the spectrum are in favour of such subsidies.
On the other hand, the general attitude towards combatting pollution through emissions taxes rather than through the statutory imposition of limits is clearer. A clear majority of 78 per cent overall (tend to) prefer the introduction of emissions taxes over the imposition of limits. This preference applies across the political spectrum.
There is also a consensus when it comes to assessing the potential of new technologies. A total of 72 per cent of respondents (tend to) believe that carbon-neutral economic growth will be possible as a result of technological innovation. Only 12 per cent are (mainly) sceptical, while 16 per cent are undecided.
The role of central banks in climate policy is another topic that is repeatedly the subject of intense debate. In April 2024, for example, the National Council discussed climate rules for the Swiss National Bank (SNB). 62 per cent of the economists responding to the KOF-NZZ survey generally (tend to) reject the inclusion of climate targets in central banks’ mandates. By contrast, 28 per cent would (tend to) be in favour of such an extension of these mandates. However, the responses given differ significantly depending on political affiliation. 86 per cent of (more) right-wing respondents and 70 per cent of those located in the political centre (tend to) reject the inclusion of climate targets by central banks. Respondents on the (more) left wing of the spectrum are less clear in their preferences: a narrow majority of 53 per cent are in favour, 15 per cent are neither in favour nor against, and 32 per cent are opposed. It is also clear that female economists are more in favour of including climate targets than male economists.
Political views most influential in assessing distribution issues
The respondents’ political views play a role in their responses to the majority of questions. This influence is particularly strong in the case of questions on the distribution of both wealth and income. However, the responses to some of the questions on climate policy also differ according to political affiliation – for example, the role of central banks in climate policy or the use of industrial subsidies. The respondents’ political affiliations are also of great importance when assessing the impact of minimum wages and the public spending ratio in Switzerland.
On the other hand, views across the political spectrum are similar when it comes to the potential of new technologies for carbon-neutral growth, assessing the introduction of emissions taxes, capital rules for banks, and too-big-to-fail regulation. Assessments of the Phillips curve also hardly differ across the political spectrum.
———————— *Demographics of survey respondents: Of those surveyed, 14 per cent are younger than 35, 38 per cent are between 36 and 45, 22 per cent are between 46 and 55, and 26 per cent are older than 56. 84 per cent of respondents are male and 16 per cent are female. Broken down by age category, the proportion of women is highest (20 per cent) in the 36 to 45 age group. The lowest proportion of women (11 per cent) is in the over 56 age group.
The KOF-NZZ survey of economists covers topics relevant to economic policy in Switzerland and provides a means of publicising the views of economists conducting academic research. The Neue Zürcher Zeitung (NZZ) newspaper is KOF’s media partner in the preparation and interpretation of this survey. KOF and the NZZ jointly conducted a survey of major fundamental and topical economic issues in December 2024. Some of the questions are updated formulations of an international survey conducted by Bruno S. Frey, Werner W. Pommerehne, Friedrich Schneider and Guy Gilbert in 1980 (link to the paper). The survey was conducted between 2 December and 20 December 2024. 854 economists were contacted. Responses were received from 177 economists at 19 institutions. (ref. https://news.ethz.ch/d?p00ce04y00o6iq00d0000l3i0000000003muuielzwweyd2e3r5ll4si000bik000000o2qwjku )
NEW ORLEANS, LOUISIANA – United States Attorney Duane A. Evans announced that on January 16, 2025, JONAS RICHARD (“RICHARD”), age 43, pled guilty to three counts of a superseding indictment charging him with distribution of fentanyl, in violation of Title 21, United States Code, Sections 841(a)(1) and 841(b)(1)(C).
As to each count, RICHARD faces a maximum term of imprisonment of 20 years, up to a $1,000,000 fine, at least three years of supervised release, and a mandatory special assessment fee of $100.00. RICHARD is set for sentencing on April 24, 2025.
According to court documents, on August 24, 2023, as part of operation Big Easy, undercover agents with the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) while walking through the French Quarter in New Orleans, were approached by RICHARD about purchasing narcotics. After agreeing to a price for heroin, RICHARD contacted his supplier/ co-defendant. Later, RICHARD’s supplier arrived and gave the narcotics to RICHARD, who then gave the narcotics to the undercover agents. After testing, the narcotics were identified as fentanyl and weighed 3.36 grams.
Following the August 24, 2023 sale, RICHARD maintained telephone contact with the undercover agent and on August 28, 2023, met the agents in a New Orleans parking lot. On this occasion, RICHARD sold them 16.26 grams of fentanyl.
On September 15, 2023, RICHARD sold the agents a half ounce of fentanyl laced heroin in two packages. Each package weighed 12.10 and 4.02 grams, respectively.
This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.
The case was investigated by the Drug Enforcement Administration and the Bureau of Alcohol, Tobacco, Firearms, and Explosives. This case was prosecuted by Assistant U.S. Attorney Sarah Dawkins of the Violent Crime Unit.
Lima, Jan. 28, 2025 (GLOBE NEWSWIRE) — Lima, PERU, January, Tuesday 28th, 2025 – Credicorp Ltd. announces to its shareholders and the market that its 4Q24 Earnings Release Report will be released on Monday, February 10th, 2025, after market close.
Credicorp’s Webcast / Conference Call to discuss such results; will be held on Tuesday, February 11th, 2025, at 9:30 a.m. ET (9:30 a.m. Lima, Peru time).
The call will be hosted by: Gianfranco Ferrari – Chief Executive Officer, – Alejandro Perez Reyes – Chief Financial Officer, Francesca Raffo – Chief Innovation Officer, Cesar Rios – Chief Risk Officer, Diego Cavero – Head of Universal Banking, Cesar Rivera – Head of Insurance and Pensions, Carlos Sotelo – Mibanco CFO and Investor Relations Team.
Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the call start time.
Those unable to pre-register may dial in by calling: Participant dial-in (toll-free): 1 844 435 0321 Participant international dial-in: 1 412 317 5615 Participant Web Phone: Click Here Conference ID: Credicorp Conference Call
Credicorp reminds you that we filed our Annual Report on Form 20-F for the fiscal year ended December 31st, 2023 (2023 Form 20-F) with the Securities and Exchange Commission on April 24th, 2024. The 2023 Form 20-F includes audited consolidated financial statements of Credicorp and its subsidiaries as of December 31st, 2021,2022 and 2023 under IFRS. Our 2023 Form 20-F can be downloaded from Credicorp’s website:https://credicorp.gcs-web.com/annual-materials. Holders of Credicorp’s securities and any other interested parties may request a hard copy of our 2023 Form 20-F, free of charge, by filling out the form located on the link “mail request” on Credicorp’s website.
About Credicorp
Credicorp Ltd. (NYSE: BAP) is the leading financial services holding company in Peru, with a diversified business portfolio organized into four primary lines of business: Universal Banking, through Banco de Crédito del Perú (BCP) and Banco de Crédito de Bolivia; Microfinance, through Mibanco in Peru and Colombia; Insurance and Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Management and Advisory, through Credicorp Capital and ASB Bank Corp. Credicorp has a presence in Peru, Chile, Colombia, Bolivia, and Panama.
For further information, please contact the IR team:
Headline: Thales Alenia Space to develop the payload for the third satellite of the Copernicus CO2M mission
The Copernicus CO2M mission will meet the European Union’s high-priority requirements to measure atmospheric carbon dioxide produced by human activity
Brussels, January 28, 2025 – Thales Alenia Space, a joint venture between Thales (67%) and Leonardo (33%), has signed an amendment to its CO2M contract, worth 88 million euros, with the space segment prime contractor OHB System. This amendment provides for the development of the payload for the third satellite in the CO2M Copernicus mission, in addition to the first two satellites payloads that are currently under integration. Copernicus is the Earth observation component of the European Union’s Space Programme. It provides accurate, timely and easily accessible information to improve the management of the environment, understand and mitigate the effects of climate change and ensure civil security for the benefit of all European citizens. The CO2M mission as part of the Copernicus Programme is developed by the European Space Agency with a co-funding made by the European Union and the European Space Agency.
The signature of this amendment marks a significant milestone in the pursuit of the CO2M mission to develop a European anthropogenic greenhouse gas monitoring capability. Following the awarding of the CO2M contract in 2020 for the development of the first two satellites of this mission, ESA has renewed its confidence in OHB System and Thales Alenia Space to provide a third satellite and payload. With this additional satellite, the CO2M constellation will further consolidate its operations, while enhancing the accuracy of CO2 measurements thanks to greater repeatability of acquisitions (more than 3 times a week at European latitudes).
The goal of the CO2M mission is to measure human-induced atmospheric carbon dioxide (and methane). These measurements will reduce current uncertainties in estimates of emissions of carbon dioxide from the combustion of fossil fuels at sub-continental scales. This will provide the European Union with a unique and independent source of information to assess the effectiveness of public policies, and to track their impact on decarbonizing Europe and meeting national emissions reduction targets.
“We are proud to pursue the development of the Copernicus CO2M mission alongside the European Commission, ESA and OHB System,” said Hervé Derrey, CEO of Thales Alenia Space. “The CO2M mission is unique and marks an important milestone in European leadership with regards to climate change and greenhouse gases reduction. Thales Alenia Space will continue to bring its flight-proven Earth Observation expertise to this mission, which is essential to meeting the ambitious goal of measuring atmospheric carbon dioxide produced by human activities.”
Each CO2M satellite’s payload includes three instruments:
A combined CO2/NO2 (carbon dioxide/nitrogen dioxide) instrument based on a near-infrared and shortwave-infrared spectrometer provided by Thales Alenia Space in France;
A Multi-Angle Polarimeter (MAP) based on four identical cameras, contained in a dedicated optical unit, provided by Thales Alenia Space in France;
A Cloud Imager (CLIM), derived from the flight-proven Proba-V instrument, provided by OIP Sensor Systems in Belgium.
CO2M will measure images of atmospheric columns of CO2 with the resolution, accuracy, time sampling and spatial coverage required to provide the key space component inputs of the Operational Anthropogenic CO2 Emissions Monitoring & Verification Support (MVS) Capacity.
The atmospheric measurements made by the combination of satellites and in-situ networks, especially CO2M, will provide Europe with a unique operational capability that will contribute to the global monitoring of fossil CO2 emissions[1], meaning CO2 emissions arising from anthropogenic activities, add carbon in the climate system with a huge impact on climate change.
More about industrial contributions
As prime contractor, OHB System is leading an industrial consortium including Thales Alenia Space and OIP Sensors to build the CO2M instruments. Thales Alenia Space in France is responsible for developing the CO2/NO2 Instruments and Multi-angular Polarimeters for the CO2M satellites. Thales Alenia Space in Spain will provide the S-band transponder (SBT) and the Instrument Control Unit (ICU), Thales SESO will provide key optical elements of the CO2/NO2 spectrometers (collimator mirrors and imagers optics), and Thales Alenia Space in Switzerland the telescope of the CO2/NO2 instrument.
[1] Sum of CO2 emissions from fossil fuel combustion, process CO2 emissions from cement production, process CO2 emissions from metal (ferrous and non-ferrous) production, CO2 emissions from urea production, urea application and agricultural lime, emissions from the combustion of biofuel (carbon-neutral over one year) and from land use, land-use change and forestry (including large-scale biomass burning of forest or peat fires).
ABOUT THALES ALENIA SPACE
Drawing on over 40 years of experience and a unique combination of skills, expertise and cultures, Thales Alenia Space delivers cost-effective solutions for telecommunications, navigation, Earth observation, environmental management, exploration, science and orbital infrastructures. Governments and private industry alike count on Thales Alenia Space to design satellite-based systems that provide anytime, anywhere connections and positioning, monitor our planet, enhance management of its resources, and explore our Solar System and beyond. Thales Alenia Space sees space as a new horizon, helping to build a better, more sustainable life on Earth. A joint venture between Thales (67%) and Leonardo (33%), Thales Alenia Space also teams up with Telespazio to form the parent companies’ Space Alliance, which offers a complete range of services. Thales Alenia Space posted consolidated revenues of approximately €2.2 billion in 2023 and has around 8,600 employees in 8 countries, with 16 sites in Europe.
Headline: Discovering the deepest secrets of Venus planet with EnVision mission
Thales Alenia Space has signed a contract with the European Space Agency to build the EnVision spacecraft that will unveil Venus’ deepest mysteries
• As prime contractor, Thales Alenia Space will be responsible for the entire satellite, which will host five scientific instruments as well as a radio science experiment.
• The EnVision mission will provide a holistic view of the planet, from its inner core to the upper atmosphere, in order to determine how and why Venus and Earth evolved so differently.
• The EnVision mission will benefit not only from the long-standing cooperation between ESA, its member states and NASA, but also from the combined technical and scientific expertise of Europe and the USA in Venusian exploration.
Brussels, January 28th, 2025 – Thales Alenia Space, a joint venture between Thales (67%) and Leonardo (33%), has signed a contract with the European Space Agency (ESA) worth a total of 367 million Euros, for the supply of a satellite for ESA’s EnVision mission to Venus. EnVision will embark five scientific instruments and a radio science experiment, to be carried out by the respective space agencies taking part in this exciting mission: the Italian Space Agency(ASI), the American space agency (NASA), the French space agency (CNES), the German aerospace research and technology centre (DLR) and the Belgian Science Policy Centre (BELSPO).
Venus and Earth: two “twin planets” that are so different
Some 20 years after the first European mission to Venus (Venus Express), EnVision’s goal is to explore this planet accurately and systematically from its inner core to the upper layers of the atmosphere, analysing its interaction with the surface. The intention is to provide an integrated view of Venus, studying its history, activity and climate in an attempt to better understand why Earth’s ‘twin’ planet, so similar in size and distance from the sun, is so different and uninhabitable today. EnVision is scheduled for launch in November 2031.
As the prime contractor, Thales Alenia Space will be responsible for the entire satellite, hosting five scientific instruments and an ultra-stable oscillator to perform radio science experiments.
“I wanted to sincerely thank the European Space Agency for putting its trust in our company,” Thales Alenia Space CEO Hervé Derrey said. “Thales Alenia Space took part to iconic space exploration and science interplanetary missions across the solar system, including Mars with ExoMars, Mercury with BepiColombo, the Sun with Solar Orbiter, asteroids and comets with Rosetta-Philae, Saturn with Cassini-Huygens, and tomorrow the Moon with Artemis, not to mention Euclid that will explore dark energy and dark matter to better understand the origin of the Universe’s accelerating expansion. This stunning mission will be a new step toward better understanding the deepest secrets of Venus, emphasizing in particular the many similarities and differences that exist between the Earth and the planet Venus, which is 41 million kilometers away from ours.”
“We are extremely proud to announce our contribution to ESA’s EnVision mission in partnership with NASA, 20 years after the historic Venus Express mission. This new initiative, which follows on from the extraordinary BepiColombo and ExoMars 2016 missions, represents a significant milestone for the industry as well as for space research,” said Giampiero Di Paolo, Deputy CEO and Senior Vice President, Observation, Exploration and Navigation at Thales Alenia Space. “The EnVision mission, involving major international partners, is an ambitious program that will help us unravel the mysteries of the evolution of Venus, a planet so similar to Earth in many respects, but at the same time so different. With our experience and commitment, we are determined to support this crucial planetary mission, which promises to further our knowledge of our solar system.”
“We are thrilled to partner with Thales Alenia Space on this ground-breaking new mission to Venus – said ESA Science Director, Prof. Carole Mundell – No other mission has ever attempted such a comprehensive investigation of our remarkably inhospitable neighbour. EnVision will answer fundamental questions about how a planet becomes habitable – or the opposite.”
About the aerobraking phase:
The entry into orbit around Venus will include an aerobraking phase lasting several months, during which the orbit will be progressively circularised thanks to the friction of the satellite’s surfaces with the planet’s atmosphere. This will be a particularly delicate phase for the stability and temperature of the satellite. This will be followed by the actual scientific observation phase, which is expected to last about 6 Venusian years, corresponding to 4 Earth years.
Thanks to its consolidated experience as prime contractor on complex scientific missions, the last of which was Euclid, Thales Alenia Space will draw in particular on the aerobraking experience gained with ExoMars’ Trace Gas Orbiter in 2016.
ESA has authorised the next phases up to the spacecraft in-orbit commissioning around Venus. An important upcoming milestone will be the spacecraft system requirements review in 2025. In parallel, the selection of the industrial team will be completed and full authorisation to proceed with Phase C/D is expected in June 2026.
Thales Alenia Space leading the industrial consortium:
As prime contractor, Thales Alenia Space will be responsible for the entire satellite, featuring 5 scientific instruments and an ultra-stable oscillator to perform radio science experiments, provided by ESA Member States and NASA, in further detail:
• VenSAR (Venus Synthetic Aperture Radar)
• VenSpec suite (spectrometer suite) consisting of:
– VenSpec-M (Near-Infrared Mapping Spectrometer) and Central Control Unit (CCU)
• Subsurface Radar Sounder (SRS)
• Radio Science Experiment (RSE)
For the spacecraft Thales Alenia Space in Italy selected an Industrial Core Team composed of OHB, responsible for the mechanical, thermal, and propulsion subsystem, and Thales Alenia Space in France in charge of the Attitude and Orbit Control Subsystem (AOCS) and aerobraking analysis.
About the EnVision mission
The EnVision mission is dedicated to the study of Venus and was adopted in 2024 by ESA’s Science Programme Committee as the 5th medium-class mission within the Agency’s Cosmic Vision plan.
EnVision is an ESA-led mission in partnership with NASA that provides Synthetic Aperture Radar (VenSAR) and Deep Space Network support for mission-critical phases.
EnVision will reach Venus after a 15-month cruise. After its arrival, the orbiter will spend about a year aerobraking through Venus’ atmosphere to gradually reach its scientific orbit, a near low-polar orbit of Venus, at an altitude of 220 to 540 km and with an orbital period of approximately 94 minutes.
ABOUT THALES ALENIA SPACE
Drawing on over 40 years of experience and a unique combination of skills, expertise and cultures, Thales Alenia Space delivers cost-effective solutions for telecommunications, navigation, Earth observation, environmental management, exploration, science and orbital infrastructures. Governments and private industry alike count on Thales Alenia Space to design satellite-based systems that provide anytime, anywhere connections and positioning, monitor our planet, enhance management of its resources, and explore our Solar System and beyond. Thales Alenia Space sees space as a new horizon, helping to build a better, more sustainable life on Earth. A joint venture between Thales (67%) and Leonardo (33%), Thales Alenia Space also teams up with Telespazio to form the parent companies’ Space Alliance, which offers a complete range of services. Thales Alenia Space posted consolidated revenues of approximately €2.2 billion in 2023 and has around 8,600 employees in 8, countries with 16 sites in Europe.
What began in late 2016 as a peaceful protest by lawyers and teachers in Cameroon’s North West and South West regions quickly turned violent and developed into what’s become known as Cameroon’s anglophone crisis.
The protest was instigated by perceived marginalisation of Cameroon’s anglophone region, which makes up 20% of the nation’s 29 million people.
The conflict has resulted in immense destruction and casualties. Cameroon’s military responded to the protest with arrests and torture. Voices that called for complete secession of the anglophone regions from the Republic of Cameroon gained momentum.
They created a virtual Ambazonia Republic and an interim government in exile, and vowed to fight back. They formed a military wing, Ambazonia Self-Defence Force, which attacked and disrupted economic and social services in the region.
As of October 2024, over 1.8 million people have needed humanitarian assistance. Over 584,000 have been internally displaced. Over 73,000 have become refugees in next-door Nigeria. Over 6,500 have been killed.
One possible avenue that could be pursued to end the impasse is mediation, with help from other countries. But the Cameroonian government has repeatedly rebuffed intervention from organisations such as the African Union, arguing that the conflict is an internal affair.
It also ended a government-sponsored mediation by the Swiss in 2022.
It is clear to me, as a historian who has studied Cameroon foreign policy for the past three decades, that Cameroon’s leadership will not look to external actors to help solve their crisis.
Founding leader Ahmadou Ahidjo, and later his successor Paul Biya, did not respond to external pressure to address issues. Cameroon’s diplomatic relations are based on respect of national sovereignty and nonintervention in each other’s internal affairs.
My research shows that the Cameroonian leadership rejects outside intervention on issues it regards as within its sovereignty and internal affairs.
In the 1960s, Ahidjo used brutal force against a nationalist organisation called the Maquisard. His presidency was characterised by murders, imprisonments and torture.
Political rivals were imprisoned or forced to go into exile. Biya, who served in Ahidjo’s government, learned that repressive measures work. As president, he used similar tactics against rivals and the opposition.
But the use of force as a response to the anglophone protest was a miscalculation. The Biya regime failed to see the crisis in its context of changing times, misunderstood the sources of the conflict, and misread the role of social media in protest activities in the 21st century.
The crisis originated from a series of grievances: poverty, unemployment, political and economic neglect of the anglophone region, failure to treat French and English as equal languages in the country, and disrespect and disregard of English-speaking Cameroonians.
At the beginning protesters were generally peaceful, but things changed in 2017. Biya stated that Cameroon was being hijacked by “terrorists masking as secessionists” and vowed to eliminate them.
To anglophone leaders it was a formal declaration of war, and the message spread quickly on social media. The Biya team did little to slow or stop its spread, and anglophones inside and outside the country accepted the message as fact. It mobilised the region. And few took the time to read the full text of his remarks.
The brutality of the war on both sides intensified. Everything had all happened so quickly, and most did not anticipate the intensity of the violence.
In its diplomatic relations, Cameroon has a long history of protecting what it sees as its own business.
One example was in 1992, after the US administration criticised Biya for electoral fraud. The Cameroon government fired back. Biya withdrew Cameroon’s ambassador from Washington DC, and informed the US ambassador that America should stay clear of Cameroon’s internal affairs.
In 2008, tension erupted again when Biya changed Cameroon’s constitution to eliminate presidential term limits. The US ambassador criticised the move in the Cameroonian press. Again, Cameroonian officials pushed back, asking the ambassador not to interfere in the nation’s internal politics.
America’s disposition towards the anglophone crisis has been one of non-interference. Other major powers have responded similarly, asking both sides to end the violence.
The Cameroon government has rebuffed initiatives from Switzerland and Canada, both friendly to the country, publicly stating it asked no nation to mediate.
The rejection of the Swiss initiative was surprising, given that Biya spends much time in that country. Unlike the Swiss plan, in which conversations began, the Canadian initiative did not even take off.
Measurable indicators show that the Biya regime is failing to end the anglophone crisis. The killings – including those of law enforcement officers – kidnaps, brutality and ransom demands are now normalised in the anglophone region, especially in rural areas.
People are exasperated by public service announcements about what the government has achieved. Their condition remains much worse than it was in the pre-crisis period.
Ordinary people are focused on bread-and-butter issues and the desire for dignity and respect. But they don’t see it.
Young Cameroonians need to see both anglophone and francophone residents at every level of government, on every rung of the business ladder, in every management position, at every school — even on every billboard advertisement.
Only such a widespread and visible approach can convincingly challenge Cameroon’s pattern of discrimination and exclusion.
The Biya regime must commit to doing that and not be distracted by supporters urging him to be a candidate in the upcoming presidential election.
It is important to track and bring to justice the apparent sponsors of the killings in the country. This must be done while government keeps its promises to make things right for those living in the anglophone regions.
Finally, given China’s investment in Cameroon, it can do more to engage the Biya regime on the anglophone crisis. Like Cameroon, China’s policy also stipulates a policy of nonintervention, but it has repeatedly changed course when its strategic interests are threatened.
Major power status demands major responsibilities, and showing the will to stop chronic human rights violations remains an important obligation.
– Cameroon could do with some foreign help to solve anglophone crisis – but the state doesn’t want it – https://theconversation.com/cameroon-could-do-with-some-foreign-help-to-solve-anglophone-crisis-but-the-state-doesnt-want-it-244770