NewzIntel.com

Category: Justice

  • MIL-OSI Security: Cherokee County Felon And Five Straw Purchasers Sentenced For Federal Firearms Crimes

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

    MUSKOGEE, OKLAHOMA – The United States Attorney’s Office for the Eastern District of Oklahoma announced that Eduardo Garcia, age 55, Eric Lopez, age 46, Eric Jesus Lopez, age 28, Savanna Jade Lopez, age 28, Francisco Hernandez, age 25, and Christian Lopez, age 27, each of Tahlequah, Oklahoma, were sentenced on federal firearms charges.

    The charges arose from an investigation by the Bureau of Alcohol, Tobacco, Firearms and Explosives.

    Eduardo Garcia, aka Eduardo Garcia Olvera, aka Eduardo Olvera Garcia, aka “Lalo”, was sentenced to 18 months in prison for one count of Felon in Possession of a Firearm.  On May 18, 2023, Garcia pleaded guilty to the charge.

    Eric Lopez, Eric Jesus Lopez, Savanna Jade Lopez, and Christian Lopez each pleaded guilty to one count of False Statements During the Purchase of a Firearm and were sentenced to five years’ probation.

    Francisco Hernandez pleaded guilty to one count of False Statements During the Purchase of a Firearm and was sentenced to four years’ probation.

    According to investigators, on November 4, 2022, ATF agents discovered Eduardo “Lalo” Garcia in possession of one 20 GA Browning Light Twenty shotgun, one 20 GA Mossberg model 185K shotgun, one 9mm Ruger PC Carbine, and one completely built AR-15 style upper receiver in 5.56 NATO caliber, together with 19 empty gun boxes for manufactured firearms and over 2,900 rounds of ammunition, all shipped or transported in interstate or foreign commerce.  At the time Garcia possessed the firearms, he had been convicted of a crime punishable by imprisonment for a term exceeding one year and was prohibited from possessing firearms.

    An investigation by ATF agents revealed that five of those gun boxes bore serial numbers that matched firearms purchased for Garcia.

    The investigation also revealed that between October of 2021 and October 2022, Eric Lopez, Eric Jesus Lopez, Savanna Jade Lopez, Christian Lopez, and Francisco Hernandez purchased a total of 107 firearms from four licensed firearms retailers in the Tahlequah and Muskogee areas.  For each purchase, the defendants falsely stated on a Department of Justice ATF Form 4473 that they were the actual buyers of the firearms.  In reality, the defendants were purchasing the firearms for Garcia, who was unable to complete purchases due to his felony conviction.  Law enforcement in Mexico recovered one of those firearms, a Glock 9mm pistol, five months after a family member purchased it for Garcia.

    “Enforcing federal firearm regulations is a crucial part of protecting the Second Amendment rights of law-abiding citizens and ensuring public safety,” said United States Attorney Christopher J. Wilson.  “Felons like Mr. Garcia and others who would otherwise not be able to legitimately purchase or possess firearms often look for buyers with no previous criminal history to act as straw purchasers on their behalf.  Garcia and his co-defendants attempted to thwart the safeguards and are being held accountable for their acts.”

    “When family and friends choose to commit crime together, they become felons together.  Federal firearms laws are designed to keep weapons from those that shouldn’t have them, and today’s sentencing is a notice to all that ATF and its partners will relentlessly pursue those who choose to ignore them. Whether you are a felon in possession or supplying prohibited persons with firearms, we will find you and prosecute,” said ATF Special Agent in Charge Jeffrey C. Boshek II.

    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 Honorable Raúl M. Arias-Marxuach, U.S. District Judge in the United States District Court for the District of Puerto Rico, sitting by assignment, presided over the hearing in Muskogee, Oklahoma.  Garcia will remain out of custody pending assignment to a designated United States Bureau of Prisons facility to serve a non-paroleable sentence of incarceration.

    Assistant United States Attorney Erin Cornell represented the United States.

    MIL Security OSI –

  • MIL-OSI United Kingdom: UK courts ‘getting it wrong’ on eyewitness evidence A ‘pivotal shift’ in how UK Courts view eyewitness evidence is needed according to new research from the University of Aberdeen.

    Source: University of Aberdeen

    A ‘pivotal shift’ in how UK Courts view eyewitness evidence is needed according to new research from the University of Aberdeen.

    A team of researchers led by Dr Travis Seale-Carlisle from the University of Aberdeen collated expert opinion gathered from scientists from all over the world on a variety of eyewitness memory phenomena. They found an almost unanimous shift in beliefs about the relationship between eyewitness confidence and accuracy. 

    The research showed that in 2001, around 90 percent of experts thought that the degree of confidence expressed by the eyewitness had little relationship to how accurate they ultimately were. This opinion has now flipped to around 90 percent of experts agreeing that the higher the confidence of the eyewitness, the more likely they are to be accurate in their identification.  

    This is true if certain conditions are applied when collecting confidence and if the identity parade is administered properly. Another condition that the experts agree is crucial, is the time at which this confidence statement is collected. It is most informative of accuracy at the initial identification attempt – not later at trial, for example, which can occur months or even years after the crime occurred. 

    Psychologists who investigate eyewitness memory have periodically gathered their thoughts on a variety of eyewitness memory phenomena since the 1980’s. However, the most recent survey of expert opinion of eyewitness memory phenomena was conducted more than 20 years ago in 2001. The team in Aberdeen sought to update this. 

    This new understanding of the relationship between confidence and accuracy is crucial for those in the legal system to know and understand according to Dr Seale-Carlisle: 

    “Psychologists who investigate eyewitness memory used to think that how sure a witness was – or their confidence in their eyewitness identification, was very weakly related to how accurate they were. These opinions may have influenced policy surrounding eyewitness identification procedures in the UK.  

    “Guidelines in Scotland, for example, encourage eyewitnesses to justify the reason they identified someone from the identity parade, but say nothing about asking eyewitnesses for their level of confidence in their identification.  

    “In England and Wales, the policies surrounding identity parades also remain silent about eyewitness confidence. 

    “However, we now know from this research that most psychologists in the field believe eyewitness confidence, when collected properly, to be a valuable piece of information.  

    “Most psychologists in the field also agree that it is most valuable when gathered as early as possible rather than further down the line such as in court. This survey shows that most experts have changed their thinking on this issue. These policies in England, Scotland, and Wales therefore need to change.  

    The solution, Dr Seale-Carlisle asserts is simple: 

    “In my opinion this is the most important piece of information the legal system can collect from eyewitnesses aside from who eyewitnesses identify – and the legal system in the UK does not currently collect it.  

    “The policy to refrain from collecting confidence is based on an outdated notion that experts today do not agree with.  

    “All it takes is a simple question: “How confident are you that this is the person who committed the crime?”  

    “The U.S. Department of Justice recently updated their department-wide policy to encourage the collection of initial confidence, and we encourage the UK to do the same.” 

    Eyewitness evidence in the UK is based on an outdated notion that experts today do not agree with.” Dr Travis Seale-Carlisle

    To find out how you can help support research at the University of Aberdeen please contact giving@abdn.ac.uk. If you would prefer to make a gift of your time, please contact alumni@abdn.ac.uk to find out more about our alumni volunteering opportunities.

    Related Content

    MIL OSI United Kingdom –

  • MIL-Evening Report: Wrongly convicted of a crime? Your ability to clear your name can come down to your postcode

    Source: The Conversation (Au and NZ) – By Kylie Lingard, Senior lecturer, University of Wollongong

    Shutterstock

    If you’re found guilty of a crime, it’s a basic principle of Australian law that you have a right to appeal.

    But having a right and being able to exercise it are two different things, especially when it comes to fresh evidence casting doubt on your conviction.

    In Australia, your ability to challenge a conviction with fresh evidence depends on where you live, because each state and territory has different rules. Too often, it also depends on the resources someone can access, including money and knowledge of the legal system.

    Everyone should have the same opportunities to clear their name, so how can we make accessing appeals more equitable?

    State by state

    Direct pathways to appeal differ between the states and territories.

    In all postcodes, it’s difficult to get appeal courts to consider fresh evidence in the first instance.

    South Australia, Tasmania, Victoria, Western Australia, Queensland and the ACT allow multiple appeal applications if “fresh and compelling” evidence emerges after your first appeal. Since 2013, six convictions have been quashed this way, including Henry Keogh’s in SA after the state coroner recanted trial evidence.

    Tasmania and WA allow subsequent appeals only for serious offences, while SA has no such restriction.

    New South Wales and the Northern Territory don’t allow subsequent appeals, so people there have less direct access to the courts if wrongly convicted.

    There are, however, indirect ways people can seek an appeal with fresh evidence.

    In all states, you can ask the government to refer your case back to an appeal court. For example, the Victorian Attorney-General referred Faruk Orman’s case after evidence emerged about his lawyer’s misconduct. Referral decisions are made in secret and not reviewable.

    In the ACT, you can ask the Supreme Court for a judicial inquiry into your conviction. If you get an inquiry, the inquiry officer can refer your case back to the appeal court if they find reasonable doubt. This led to David Eastman’s conviction being quashed.

    These inquiries are only available if the issue can’t be properly addressed in an appeal, for example because the time for filing an appeal has lapsed. But, the ACT introduced subsequent appeals in 2024 which have no time limit, so it is unclear whether this pathway is still usable.

    In NSW, you can ask the government for an inquiry, but decisions are made in secret and open to political and media influence. This pathway led to Kathleen Folbigg’s acquittal.

    You can also ask the NSW Supreme Court for an inquiry or direct referral of your case back to the appeal court. This path is available for all offences and sentences and decisions are public. Since 2014, 59 conviction review applications to the NSW Supreme Court have resulted in one inquiry order and six referrals, with three successful appeals.

    The inquiry (currently underway) involves the Croatian Six, convicted in 1981 for conspiracy to bomb sites in Sydney. After many failed attempts, they finally secured an inquiry with fresh evidence casting doubt on police and witnesses’ trial evidence.

    These different pathways across the country create an uneven playing field, where some wrongfully convicted people may have more opportunities to clear their name than others.

    The right resources

    Access to appeals doesn’t just depend on location. It’s also about resources.

    To succeed in getting an appeal via any of the above pathways, you need the power to obtain documents and the resources to gather other evidence. You also need the ability to prepare a strong case. That’s before you even get to court.

    Judicial inquiries have investigatory powers and resources, but are expensive. For example, the Eastman inquiry cost the ACT government $12 million.

    The United Kingdom and New Zealand have independent bodies called Criminal Cases Review Commissions. Scotland has its own version.



    Read more:
    Kathleen Folbigg pardon shows Australia needs a dedicated body to investigate wrongful convictions

    These commissions have the power to compel evidence and resources to investigate claims of wrongful conviction at no cost to applicants. They also have the power to refer cases back to the courts. While these commissions don’t refer many cases overall, about 70% of of cases referred in the UK are successful on appeal.

    But, even for commissions, a strong initial application is important. In the UK, the Cardiff University Innocence Project engages law students to investigate claims of innocence and prepare applications for claims with merit.

    Canada and the United States don’t have criminal case review commissions. Innocence Projects there review claims of innocence and help prepare applications for government or court review.

    This is similar to the work of the few innocence clinics in Australia, such as those at RMIT and Griffith universities.

    Innocence initiatives around the world work with limited investigatory resources and powers compared with those of a review commission. In the absence of a such a commission in Australia, second appeals are useful, but they are expensive to run, hard to access and don’t address the resource issue.

    The free NSW Supreme Court pathway doesn’t address the resource issue either. But it can lead to an inquiry or referral, is open and accountable, and comes with guiding criteria and discretion to make short shrift of baseless applications.

    My research suggests free pathways to appeal are important justice mechanisms for the wrongly convicted, but they work best when applicants have legal help to prepare a clear and concise application. Involving law students to help edit applications could make it easier for decision-makers to review cases and help applicants without lawyers get a fairer chance to be heard.

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

    – ref. Wrongly convicted of a crime? Your ability to clear your name can come down to your postcode – https://theconversation.com/wrongly-convicted-of-a-crime-your-ability-to-clear-your-name-can-come-down-to-your-postcode-240310

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Crapo Joins Colleagues in Introducing Stand with Israel Act to Combat Israel’s Persecution at UN

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo

    WASHINGTON, D.C.–U.S. Senators Mike Crapo (R-Idaho) and Jim Risch (R-Idaho), ranking member of the Senate Foreign Relations Committee, and 26 Senate colleagues announced their intent to introduce the Stand with Israel Act when the Senate and House reconvene in November.  This legislation would cut off U.S. funding to United Nations (UN) agencies that expel, downgrade, suspend or otherwise restrict the participation of the State of Israel. 

    “Israel’s enemies are trying to manipulate the United Nations to accomplish their misguided goals,” said Crapo.  “Any moves by the United Nations to restrict Israel’s participation would conflict with American values and global interests.  American taxpayers should have no part in funding international bodies that threaten the diplomatic security of our ally.” 

    “Any attempt to alter Israel’s status at the UN is clearly anti-Semitic,” said Risch.  “That said, if the UN member states allow the Palestinian Authority and the Palestine Liberation Organization to downgrade Israel’s status at the UN, the U.S. must stop supporting the UN system, as it would clearly be beyond repair.  I am disgusted that this outrageous idea has even been discussed, and will do all we can to ensure any changes to Israel’s status will come with consequences.”

    Joining Crapo and Risch in sponsoring the legislation are Senators Tom Cotton (R-Arkansas), Chuck Grassley (R-Iowa), Bill Cassidy (R-Louisiana), Dan Sullivan (R-Alaska), Steve Daines (R-Montana), Mike Lee (R-Utah), Kevin Cramer (R-North Dakota), John Barrasso (R-Wyoming), Pete Ricketts (R-Nebraska), Eric Schmitt (R-Missouri), Rick Scott (R-Forida), John Kennedy (R-Louisiana), Roger Wicker (R-Mississippi), Shelley Moore Capito (R-West Virginia), Marco Rubio (R-Florida), Joni Ernst (R-Iowa), Ron Johnson (R-Wisconsin), Markwayne Mullin (R-Oklahoma), Thom Tillis (R-North Carolina), Ted Budd (R-North Carolina), Susan Collins (R-Maine), Tim Scott (R-South Carolina), Josh Hawley (R-Missouri), James Lankford (R-Oklahoma), John Thune (R-South Dakota), and Deb Fischer (R-Nebraska),

    This is companion legislation to bipartisan legislation introduced in the U.S. House of Represenatives, HR 9394, led by U.S. Representative Mike Lawler (R-New York).

    BACKGROUND:

    • Reports indicate that the Palestinian Authority (PA) will attempt to downgrade Israel’s status at the UN.
    • The PA is able to do this after the UN General Assembly passed a biased resolution which enhanced the PA’s status at the United Nations on May 10, 2024.
    • Following that vote, Ranking Member Risch led 24 Senate colleagues in introducing the No Official Palestine Entry (NOPE) Act, legislation to update existing funding prohibitions in law that would cause the United States to cut off assistance to entities that give additional rights and privileges to the Palestinian Authority.
    • The Stand with Israel Act would cut off U.S. funding to UN agencies that expel, downgrade, suspend, or otherwise restrict the participation of the State of Israel. The bill is modeled after the current prohibition of funding to any UN entities that elevate the status of the Palestinian Authority to a member state.

    Text of the Stand with Israel Act can be found here.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Name release, Lake Horowhenua homicide

    Source: New Zealand Police (National News)

    Attribute to Detective Senior Sergeant Dave Thompson

    Police are continuing enquiries into the death of a man at Muaūpoko Park, Lake Horowhenua.

    A homicide investigation was launched after the man was located deceased in a building on Thursday 17 October.

    The victim can now be named as 56-year-old Horowhenua man Robert Nattie Albert.

    A funeral service for Robert was held on Tuesday 22 October at the Ngāti Huia marae.

    We have heard from a number of members of the public who were in the Lake Horowhenua area on Wednesday 16 and Thursday 17 October. Footage from the surrounding areas has also been obtained and analysed to identify the movements of vehicles and people in the area.

    We would still like to hear from anyone who was in the Lake Horowhenua area that hasn’t yet spoken to us.

    If you have any information that could help our enquiries, please update us online now or call 105.

    Please use the reference number 241017/7823.

    Information can also be provided anonymously via Crime Stoppers on 0800 555 111. 

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Victim identified in Gulf Harbour homicide case

    Source: New Zealand Police (National News)

    Seven months after the discovery of a body in a bag found in Gulf Harbour, Police can now reveal the identity of the victim.

    She was Shulai Wang, 70, of China.

    Police have been investigating the death since she was found in the water in Gulf Harbour on 12 March.

    Acting Detective Inspector Tim Williams, Waitematā CIB, says extensive enquiries have been carried out to identify the victim.

    “Detectives from the Operation Parade investigation team recently travelled to China to assist with this process.

    “The investigation team has been working tirelessly in the months since the homicide investigation was launched to piece together who this victim was, and the events leading up to her death.

    Acting Detective Inspector Williams says Mrs Wang came to New Zealand in August 2023 from China.

    “She had no family in New Zealand and had not been reported missing.

    “Mrs Wang’s family back in China have been advised of her death and we are working with them and international authorities to repatriate Mrs Wang and return her to her family.

    “We appreciate there are still many questions the community has in relation to this investigation and we can assure you our team is working around the clock to find those answers.”

    Two people, a man and woman both aged 37, remain before the Court charged with interfering with human remains.

    The investigation into Mrs Wang’s death is ongoing and Police will continue to provide further updates as our investigation allows.

    ENDS.

    Holly McKay/NZ Police

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Liberals back profiteering private insurers over public hospitals

    Source: New South Wales Ministerial News

    Published: 25 October 2024

    Released by: Treasurer, Minister for Health

    The NSW Government has passed legislation addressing the refusal of private insurers to pay their bills in public hospitals.

    The refusal of the country’s biggest private health funds to pay the correct single room rate has been robbing public hospitals of $140 million each year.

    The bill passed the Legislative Council 21 to 17 with the support of the Greens, the Shooters, Fishers and Farmers, the Animal Justice Party and the Legalise Cannabis Party.

    In the Legislative Assembly it passed 50 to 31 with the backing of six of the eight independents who voted, and the Greens.

    The result means the Leader of the Opposition led a vote against the very same legislation he backed a decade ago.

    In 2013, Liberal Leader Mark Speakman supported then-Treasurer Mike Baird’s bill to amend the Health Insurance Levy.

    This achieved an agreement from the private insurers to pay their fair share.

    However in 2019 the major funds began walking away from that agreement, and since then have doubled their profits.

    Mr Baird’s 2013 legislation was supported by NSW Labor in a united effort to ensure the big private health insurers paid their bills.

    But the Liberal Party’s opposition signals that under Mr Speakman’s leadership, private insurers can walk away from their bills with no recourse.

    The Opposition Leader, the Shadow Treasurer and the Member for Vaucluse must explain why they believe wealthy private insurers don’t have to play by the same rules as hard-working families across NSW and pay their bills.

    The NSW Government remains open to dialogue with major insurers to resolve the issue.

    The Government applauds the majority of non-profit private health funds, including Teachers Health, Nurses and Midwives Health and Emergency Service Health, who continue to pay the correct rate.   

    Treasurer Daniel Mookhey said:

    “Mike Baird was right in 2013 when he demanded insurers pay their fair share and a decade later, we are right to reinforce that agreement.

    “Premiums didn’t go down when the big insurers stopped paying their bills.  They shouldn’t threaten families with an increase now. The big insurers can still resolve this impasse by simply paying their bills.

    “The Government thanks those on the cross benches in both houses who supported this bill.”

    Minister for Health Ryan Park said:

    “All we’re asking is that private health insurers pay their fair share of their use of public hospital beds.

    “Every day they don’t, it’s costing the state over $338,000 – every single day.

    “It is so emblematic of the current Liberal Opposition that they refuse to support the very same bill they proposed when they were confronted with this very same set of circumstances.

    “It is so symptomatic of this Liberal Opposition which no longer knows what it stands for, completely devoid of conviction.”

    MIL OSI News –

  • MIL-OSI Australia: New early intervention service to support Aboriginal victim-survivors of family violence and their children

    Source: New South Wales Ministerial News

    Preventing and eliminating domestic and family violence is a priority for the NSW Government.

    Evidence shows that early intervention can improve the lives of children and young people, including those who have experienced family violence, building resilience as they recover.

    Funded with $13 million under the National Partnership Agreement with the Commonwealth Government, Safe and Strong uses a dual model of early intervention support for both victim-survivors and their children who are experiencing, or at risk of experiencing, family violence.

    Service providers will deliver specialist early supports such as counselling, family capacity building, and supported playgroups.

    Case workers will help families to identify early indicators of violence in their homes, and deliver therapeutic, trauma-informed and culturally safe support focusing on the needs and experiences of victim-survivors and their children.

    There are 11 Aboriginal Community Controlled Organisations (ACCOs) that will deliver Safe and Strong in 10 priority locations across NSW, and service delivery will commence in the remaining 22 priority locations in early 2025.

    ACCOs are best placed to understand community need and deliver services to achieve better results for Aboriginal and Torres Strait Islander families and their children, and have been prioritised to deliver this service.

    Aboriginal-led, trauma-informed and culturally safe strategies recognise the importance of culture, connection to Country and the role of men’s and women’s business in responding to and healing from family violence.

    Locations for delivery of Safe and Strong were selected using domestic violence crime and child protection data, to identify areas of the highest need.

    Safe and Strong demonstrates the NSW government’s ongoing commitment to addressing family violence within our communities and aligns with the objectives of the NSW Domestic and Family Violence Plan 2022-2027.

    The early intervention service complements the range of domestic and family violence supports already in place in NSW, including the Specialist Workers for Children and Young People program, Staying Home Leaving Violence and Women’s Domestic Violence Court Advocacy Services.

    This project is funded for 12 months and will be independently evaluated to measure its impact and effectiveness.

    The NSW Government has committed $245.6 million in the 2024-25 Budget to improve support for domestic and family violence victim-survivors and expand programs that reduce the rate of violence, including in early intervention and primary prevention.

    Federal Minister for Social Services Amanda Rishworth said:

    “To achieve our goal of ending gender-based violence in one generation, we need to provide genuine support for our young men and boys now.

    “That’s why the Albanese Labor Government has worked to elevate the voices of children in the National Plan to End Violence against Women and Children.

    “We have invested $3.4 billion to deliver the National Plan over the past 3 budgets and a further $4.4 billion to harness opportunities to prevent violence and support legal services as announced at the 6 September National Cabinet meeting on gender-based violence. This includes work that will have a specific focus on supporting First Nations children and young people.

    “Our Government is proud to invest in supports that will lead to long-term change and provide meaningful support to young men and boys to help them break the cycle of violence, as well as support victim-survivors.”

    NSW Minister for Families and Communities Kate Washington said:

    “Domestic and family violence can tear families apart; and the impact on children and young people can be lifelong.

    “Many children who enter the child protection system have come from houses of violence and carry that trauma with them.

    “The Safe and Strong program is designed to stop the cycle of abuse by identifying families at risk and offering timely support so more Aboriginal children can stay safely with their families.”

    NSW Minister for Aboriginal Affairs and Treaty David Harris said:

    “It is critical that we respond to the impacts of domestic and family violence on Aboriginal people.

    “Early intervention is an important strategy and the services to help Aboriginal people and communities, including children, will be developed and delivered by and with Aboriginal people.

    “We know the best way to close the gap is by Aboriginal people shaping and driving outcomes for Aboriginal people, in partnership with the NSW Government.”

    NSW Minister for the Prevention of Domestic Violence and Sexual Assault Jodie Harrison said:

    “The NSW Government is committed to keeping families safe from the harm and horror of domestic and family violence.

    “To make sure our action in this space is meaningful and sustainable, we must address domestic and family violence from every angle – this includes genuine preventative and early intervention action.

    “It’s important to treat children and young people as victim-survivors in their own right and ensure that child-focused early support is provided.

    “Through Safe and Strong, we are making sure that victim survivors of domestic and family violence and their children have the support they need to recover, heal and rebuild their lives.

    Dhungutti woman Ashlee Donohue CEO of Mudgin-Gal Aboriginal Women’s Centres said:

    “Mudgin-Gal means ‘Women’s Place’, which reflects our mission to provide a safe space for Aboriginal women and families.

    “We are committed to preventing domestic and family violence in our communities through the Safe and Strong program.

    “Using a family approach through early intervention, we will continue to deliver culturally safe and trauma-informed support services to families.

    “By identifying early indicators of violence, we can support families who are at risk of family violence and stop the violence before it starts.”

    Support Services

    If you or someone you know are in immediate danger, call the Police on Triple Zero / 000.

    For confidential advice, support, and referrals, contact 1800 RESPECT or 13 YARN on 13 92 76.

    MIL OSI News –

  • MIL-OSI New Zealand: Police monitoring gang event in Tāmaki Makaurau this weekend

    Source: New Zealand Police (National News)

    Police are aware of the Tribesman Outlaw Motorcycle Club’s plans to host an event in Tāmaki Makaurau this weekend.

    Counties Manukau East Area Prevention Manager, Inspector Rakana Cook says Police have a number of teams working hard to target and disrupt unlawful gang-related activity.

    “We will be monitoring the event in Auckland this weekend and there will be an increased Police presence in the Counties Manukau area.

    “Police will be actively ensuring this event is carried out in a safe manner for all involved, including the wider community.”

    Inspector Cook says enforcement action will be taken where appropriate for any unsafe or dangerous behaviour.

    “We continue to encourage the community to report any suspicious or illegal activity that may be taking place, we take these reports seriously and in confidence.”

    If you are concerned about your safety in regards to the group, or witness illegal behaviour happening now, please call 111 immediately.

    To report, or send in any footage of the group causing concern, we encourage you to file a report online at 105.police.govt.nz, call Police on 105, or report anonymously via Crime Stoppers on 0800 555 111 or www.crimestoppers-nz.org

    ENDS.

    Holly McKay/NZ Police 

    MIL OSI New Zealand News –

  • MIL-OSI USA: SCHUMER DELIVERS NEARLY $16 MILLION TO STEUBEN COUNTY, ALSTOM, & BINGHAMTON BATTERY HUB TO DEVELOP CUTTING EDGE BATTERY TECH AT ALSTOM’S HORNELL FACILITY FOR NEXT GEN ENERGY-EFFICIENT TRAINS

    US Senate News:

    Source: United States Senator for New York Charles E Schumer

    Funding Will Help Alstom & Partners Produce And Test Hybrid, Battery-Powered Trains At Southern Tier Facility

    Schumer Urged U.S. Transportation Secretary – Which Brings Together Two Emerging Areas Of Manufacturing In The Southern Tier – To Fund Project Boosted By The Bipartisan Infrastructure Investment & Jobs Law

    Schumer: Fed $$ For Battery-Powered Rail Development Puts Southern Tier On Track To Lead In Developing Future Of This Industry!

    U.S. Senate Majority Leader Charles E. Schumer today announced $15,982,500 for Steuben County IDA, in partnership with Norfolk Southern Railway, Binghamton University’s New Energy New York (NENY) consortium, and Alstom to develop new battery technology for more energy-efficient trains.

    “This nearly $16 million in federal funding puts Steuben County IDA and its partners – including Alstom, a national leader in cutting-edge rail development – on track to develop new state-of-the-art hybrid locomotives that will enhance rail safety and improve climate resilience,” said Senator Schumer. “I’ve led the charge to establish the Southern Tier as a hub for battery manufacturing and research & development, and today’s investment will boost efforts to make sure the next generation of rail technology is stamped ‘Made in Upstate NY.’ I also fought to boost funding for the Department of Transportation’s rail infrastructure improvement program in the Bipartisan Infrastructure & Jobs Law and am thrilled that the program is continuing to deliver for NY.”

    This project will help produce and test two hybrid, battery-powered trains at Alstom’s Southern Tier facility and aims to enhance safety and improve climate resilience. The federal funding comes from the U.S. Department of Transportation’s Consolidated Rail Infrastructure and Safety Improvements (CRISI) program, which Schumer fought to increase funding for in his Bipartisan Infrastructure Investment & Jobs Law.

    “Alstom is grateful to Senator Schumer for his support and leadership that has made New York’s Southern Tier the nation’s center of rail manufacturing excellence,” said Michael Keroullé, Alstom Americas President. “Together with our partners, Steuben County Industrial Development Agency, Binghamton University and Norfolk Southern, we will use this project to develop and test new battery and rail technologies to help advance efforts to decarbonize the freight sector.”

    Steuben County Industrial Development Agency’s Federal Railroad Administration’s Hybrid Locomotive Project aims to develop new battery technology to produce and test two hybrid, battery-diesel locomotives at Alstom’s Kanona facility in Bath. The rebuilt locomotives will use batteries as the primary power source, enhancing safety and improving climate resilience.

    “The Steuben County Industrial Development Agency is pleased to be partnering with Alstom and Norfolk Southern Railway on the development of the locomotive of the future at Alstom’s facility in Kanona, New York.  The CRISI award will help advance a new clean diesel battery hybrid technology that builds off the region’s deep history in transportation manufacturing and innovation in battery and clean energy technology.  The project aligns the region’s strengths to establish the County as a leader in clean tech manufacturing. We appreciate the strong support that Senator Schumer has shown towards the Steuben County IDA and his commitment to new battery technology in the Southern Tier, ” said James C. Johnson, Executive Director of Steuben County Industrial Development Agency.

    The Bipartisan Infrastructure & Jobs Law, which Schumer crafted and led to passage in the Senate, included $5 billion over five years for the CRISI program. The program invests in various projects within the United States to improve railroad safety, efficiency, and reliability; mitigate congestion at both intercity passenger and freight rail chokepoints to support more efficient travel and goods movement; enhance multi-modal connections; and lead to new or substantially improved Intercity Passenger Rail Transportation corridors.

    Schumer has long fought to secure federal investment to boost Binghamton and Upstate NY’s battery manufacturing and R&D. Most recently, Schumer announced the Binghamton University-led Upstate New York Energy Storage Engine won the esteemed U.S. National Science Foundation’s Regional “Innovation Engines” Competition (NSF Engines), which was created by his CHIPS & Science Law. Schumer said the Binghamton-led project was one of only ten projects across the country selected for this award which brings $15 million in federal funding, with up to $160 million total over the life of the program from the NSF to supercharge growth and cutting-edge research in battery development and manufacturing in Upstate NY.

    “Our engineers have met with Alstom representatives and discussed future collaborations on this exciting project. Through our Watson College of Engineering and Applied Sciences and through all of our resources available through our New Energy New York and Upstate New York Energy Storage Engine programs, we stand ready to assist Alstom in any way we are able.  Electrification of all forms of transportation– vehicles, planes and trains– is simply what has to happen in the US and we are pleased to play a role in this important transformation,” said Dean Atul Kelkar, Watson College of Engineering and Applied Sciences, Binghamton University.

    Schumer secured the prestigious tech hubs designation for Binghamton University’s New Energy New York (NENY) project, which he also created in the CHIPS & Science Act, accelerating the Southern Tier’s emergence as America’s next battery tech hub. Receiving that designation made $500,000 in funding through the CHIPS & Science Law, along with the potential for philanthropic and private sector investment, possible. Schumer designed the Tech Hubs program to strengthen a region’s capacity to commercialize, manufacture, and grow technology in key focus areas like batteries, and now, thanks to his efforts, Binghamton is spurring innovation and bringing the manufacturing of batteries back to America, all while supporting the economic resurgence of the Southern Tier.

    In addition to the NSF Engine award and national recognition through the Tech Hubs program, Schumer’s American Rescue Plan created programs like the $1 billion Build Back Better Regional Challenge (BBBRC) that also supported Binghamton’s efforts. Schumer personally advocated for the selection of Binghamton University’s battery hub proposal for the BBBRC federal investment and in December 2021, Binghamton’s project was selected as a Phase 1 awardee out of over 500 applications from around the country to compete for a final award. In April 2022, Schumer personally visited the Southern Tier to double down on his advocacy, standing with Dr. Whittingham, to reiterate his support and urge federal leaders to select Binghamton as a final Regional Challenge awardee. 

    Finally, in September 2022, Schumer secured Binghamton’s spot as a final awardee, with a $63.7 million federal investment, one of the largest grants made in the competition, which was matched by $50 million in funding from New York State, to help make the Southern Tier and Finger Lakes a national hub for battery research and manufacturing. Additionally, Schumer brought Dr. Whittingham as his guest to last year’s State of the Union to highlight Binghamton’s national leadership in battery technology.

    A copy of Schumer’s letter to U.S. Secretary of Transportation Pete Buttigieg can be found below:

    Dear Secretary Buttigieg:

    I am pleased to write on behalf of the Steuben County Industrial Development Agency’s application to the Federal Railroad Administration’s Consolidated Rail Infrastructure and Safety Improvement (CRISI) Program. This collaborative effort between the Steuben County IDA, Alstom, Norfolk Southern Railway, and Binghamton University’s New Energy New York (NENY) consortium will result in the production and testing of two hybrid, battery-diesel locomotives. The project will demonstrate the efficiency, reliability, and commercial viability of technology that can be implemented to help accelerate the reduction of carbon emissions in the freight rail industry.

    In particular, the project will convert two GP 38/40 locomotives into a battery-diesel hybrid design. These locomotives will be remanufactured at Alstom’s Kanona facility in Bath, NY, and will reuse existing steel frames to significantly reduce carbon emissions. The rebuilt locomotives will use batteries as the primary power source, increasing pulling capacity by approximately 50% and maximizing engine efficiency. In addition, the locomotive will be designed to allow for the diesel engine to be replaced with zero emission technology as it becomes commercially and technology viable. This is a first step toward developing important prototype technology that has the potential to greatly benefit both industry and the environment.

    The Southern Tier is well positioned to help advance energy storage solutions for the freight rail industry given Binghamton University’s NENY. Following years of personal advocacy, NENY was designated a U.S. Economic Development Administration (U.S. EDA) Regional Technology and Innovation Hub, National Science Foundation (NSF) Regional Innovation Engine, and secured significant investment through the Build Back Better Regional Challenge. These federal awards recognize the region’s ability to lead the nation in battery innovation. Hence, the collaboration with experts at Binghamton University on battery-related subjects such as power density, modeling, and

    optimization underscores the potential of this project.

    I applaud the Steuben County Industrial Development Agency and the other partners for their foresight and sincerely hope the application is met with your approval. If you have questions, please do not hesitate to contact me or my grants coordinator at (202) 224-6542.

    MIL OSI USA News –

  • MIL-OSI USA: SCHUMER SECURES WHOPPING $215 MILLION IN FED FUNDING FOR AGING LIVINGSTON AVENUE RAIL BRIDGE – LARGEST CRISI AWARD EVER – TO REPLACE BRIDGE SPANNING THE HUDSON RIVER BETWEEN ALBANY AND RENSSELAER

    US Senate News:

    Source: United States Senator for New York Charles E Schumer

    Award For Livingston Avenue Bridge Will Help Replace 125 Year Old Structure & Civil War-Era Piers & Is Largest CRISI Award EVER – Federal Funding For Rail Infrastructure Improvements – In The History Of The Program

    Schumer Relentlessly Advocated To Fund Bridge Placement Project, Calling On US Transportation Secretary & Amtrak CEO To Deliver Resources For Critical Infrastructure Improvement In Capital Region

    Schumer: New Bridge Over The Hudson Will Ensure Service And Reliability Of Key Connection To Points West and North Of The Albany/Rensselaer Station, While Allowing For Nautical Traffic Along The River & Finally Establishing A Long Dreamt Of Pedestrian Connection

    U.S. Senate Majority Leader Charles E. Schumer today announced $215,104,000 in federal funding for the replacement of the Livingston Avenue Rail Bridge, some of which dates back to the Civil War-era, spanning the Hudson River between Albany and Rensselaer. The federal funding comes from the U.S. Department of Transportation’s Consolidated Rail Infrastructure and Safety Improvements (CRISI) Program, which Schumer fought to increase funding for in the Bipartisan Infrastructure & Jobs Law, and is the largest CRISI award announced in the history of the program.

    “The Livingston Avenue Bridge provides the only viable passenger rail passage across the Hudson River, between Albany and Rensselaer, but it is approximately 125 years old and rests on piers from the Civil War-era and has deteriorated significantly, putting upstate passenger rail and rover traffic at risk. This whopping $215+ million in federal funding will help replace the bridge, improving service and reliability along the Empire Corridor, ensure river traffic flow, and provide a long desired pedestrian link as well,” said Senator Schumer. “It’s a good day to have the Senate Majority Leader represent the Capital Region. This bridge is the key link that allows passenger travel between New York City and points west of Rensselaer, across Upstate, and north to Montreal. I’ve fought tirelessly to deliver the resources necessary to make this project possible, from fighting to increase funding for the Consolidated Rail Infrastructure and Safety Improvements Program in the federal Bipartisan Infrastructure & Jobs Law and then personally calling Transportation Secretary Buttigieg to secure this grant. I’m proud that the program is delivering BIG – the largest award in the history of the program – for the Capital Region and all of Upstate today.”

    The Livingston Avenue Bridge replacement project will replace the passenger rail bridge spanning the Hudson River between Albany and Rensselaer. The new bridge will allow simultaneous two-track operation and remove speed restrictions, improving service and reliability along the Empire Corridor while keeping pedestrians and cyclists safe.

    Schumer has relentlessly advocated to secure federal funding for this project, personally calling U.S. Department of Transportation Secretary Pete Buttigieg earlier this year and previously urging the CEO of Amtrak to work in partnership with the New York State Department of Transportation and CSX to address the future of the Livingston Avenue Bridge. Earlier this year, Governor Hochul announced $634.8 million in state funding to replace the bridge.

    The Bipartisan Infrastructure & Jobs Law, which Schumer crafted and led to passage in the Senate, included $5 billion over five years for the CRISI program. The program invests in various projects within the United States to improve railroad safety, efficiency, and reliability; mitigate congestion at both intercity passenger and freight rail chokepoints to support more efficient travel and goods movement; enhance multi-modal connections; and lead to new or substantially improved Intercity Passenger Rail Transportation corridors.

    MIL OSI USA News –

  • MIL-OSI Security: Parkersburg Man Pleads Guilty to Federal Gun Crime

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

    CHARLESTON, W.Va. – Charles Ray Mackey, 42, of Parkersburg, pleaded guilty today to being a felon in possession of a firearm.

    According to court documents and statements made in court, on November 16, 2023, law enforcement officers conducted a traffic stop of a vehicle driven by Mackey in Parkersburg. Officers searched the vehicle following the traffic stop and found a German Sports Guns model Firefly .22-caliber semiautomatic handgun.

    Federal law prohibits a person with a prior felony conviction from possessing a firearm or ammunition. Mackey knew he was prohibited from possessing a firearm because of his prior felony convictions for non-aggravated robbery, assault during the commission of a felony upon a person 65 years of age or older, and conspiracy to commit non-aggravated robbery in Wood County Circuit Court on June 12, 2001.

    Mackey is scheduled to be sentenced on February 3, 2025, and faces a maximum penalty of 15 years in prison, up to three years of supervised release, and a $250,000 fine.

    United States Attorney Will Thompson made the announcement and commended the investigative work of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) and the Parkersburg Police Department.

    United States District Judge Thomas E. Johnston presided over the hearing. Assistant United States Attorney Lesley C. Shamblin and former Assistant United States Attorney Bill Longwell have prosecuted the case.

    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.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Southern District of West Virginia. Related court documents and information can be found on PACER by searching for Case No. 2:24-cr-128.

    ###

     

    MIL Security OSI –

  • MIL-OSI Security: Buffalo man pleads guilty to being a felon in possession of a firearm

    Source: Office of United States Attorneys

    BUFFALO, N.Y.-U.S. Attorney Trini E. Ross announced today that Henry Ford, 37, of Buffalo, NY, pleaded guilty before U.S. District Judge John L. Sinatra, Jr. to being a felon in possession of a firearm. The charge carries a maximum penalty of 15 years in prison and a $250,000 fine.

    Assistant U.S. Attorney Donna M. Duncan, who is handling the case, stated that in April 2024, a search warrant was executed on Ford’s person and at Ford’s Erb Street residence. Investigators recovered a loaded handgun from Ford’s pocket. Subsequent investigation revealed the handgun was reported stolen from Georgia in September 2019. During the search of Erb’s residence, investigators recovered a second firearm and ammunition. That firearm was reported stolen in the City of Buffalo in March 2024. In October 2008, Ford was convicted of a felony in Erie County Court and is legally prohibited from possessing a firearm.

    The plea is the result of an investigation by the Bureau of Alcohol, Tobacco, Firearms, and Explosives, under the direction of Special Agent-in-Charge Bryan Miller, and the Buffalo Police Department, under the direction of Commissioner Joseph Gramaglia.

    Sentencing is scheduled for February 29, 2025, at 2:00 p.m. before Judge Sinatra.

    # # # #

    MIL Security OSI –

  • MIL-OSI Security: Buffalo man going to prison on cocaine charge

    Source: Office of United States Attorneys

    BUFFALO, N.Y.-U.S. Attorney Trini E. Ross announced today that Tremaine Jacobs a/k/a Teeter a/k/a T, 51, of Buffalo, NY, who was convicted of attempt to possess, with intent to distribute, cocaine, was sentenced to serve 48 months in prison by U.S. District Judge Lawrence J. Vilardo.

    Assistant U.S. Attorney Michael J. Adler, who handled the case, stated that on May 16, 2020, law enforcement learned that a package containing $7,000 worth of cocaine had been sent to Jacobs. That same day, the Drug Enforcement Administration seized a package addressed to 542 Goodyear Avenue, a residence associated with Jacobs. The package contained 248 grams of cocaine. On May 30, 2020, the Bureau of Alcohol, Tobacco, Firearms and Explosives and the Buffalo Police Department Intelligence Unit executed a search warrant at the defendant’s residence at 533 Goodyear Avenue, where investigators recovered approximately 16 ounces of suspected marijuana, approximately $10,507 in US currency, and jewelry.

    The sentencing is the result of an investigation by the Drug Enforcement Administration, under the direction of Special Agent-in-Charge Frank A. Tarentino III, New York Field Division, the Bureau of Alcohol, Tobacco, Firearms and Explosives, under the direction of Special Agent-in-Charge Bryan Miller, New York Field Division, and the Buffalo Police Department, under the direction of Commissioner Joseph Gramaglia.

    # # # #

    MIL Security OSI –

  • MIL-Evening Report: Prabowo takes power as Indonesian military set up new battalions – what now for West Papuans?

    ANALYSIS: By Ali Mirin

    In the lead up to the inauguration of President Prabowo Subianto last Sunday, Indonesia established five “Vulnerable Area Buffer Infantry Battalions” in key regions across West Papua — a move described by Indonesian Army Chief-of-Staff Maruli Simanjuntak as a “strategic initiative” by the new leader.

    The battalions are based in the Keerom, Sarmi, Boven Digoel, Merauke and Sorong regencies, and their aim is to “enhance security” in Papua, and also to strengthen Indonesia’s military presence in response to long-standing unrest and conflict, partly related to independence movements and local resistance.

    According to Armed Forces chief General Agus Subiyanto, “the main goal of the new battalions is to assist the government in accelerating development and improving the prosperity of the Papuan people”.

    However, this raises concerns about further militarisation and repression of a region already plagued by long-running violence and human rights abuses in the context of the movement for a free and independent West Papua.

    Thousands of Indonesian soldiers have been stationed in areas impacted by violence, including Star Mountain, Nduga, Yahukimo, Maybrat, Intan Jaya, Puncak and Puncak Jaya.

    As a result, the situation in West Papua is becoming increasingly difficult for indigenous people.

    Extrajudicial killings in Papua go unreported or are only vaguely known about internationally. Those who are aware of these either disregard them or accept them as an “unavoidable consequence” of civil unrest in what Indonesia refers to as its most eastern provinces — the “troubled regions”.

    Why do the United Nations, Pacific Islands Forum (PIF) and the international community stay silent?

    While the Indonesian government frames this move as a strategy to enhance security and promote development, it risks exacerbating long-standing tensions in a region with deep-seated conflicts over autonomy and independence and the impacts of extractive industries and agribusiness on West Papuan people and their environment.

    Exploitative land theft
    The Centre for Climate Crime and Climate Justice, in collaboration with various international and Indonesian human and environmental rights organisations, presented testimony at the public hearings of the Permanent Peoples’ Tribunal (PPT) at Queen Mary University of London, in June.

    The tribunal heard testimonies relating to a range of violations by Indonesia. A key issue, highlighted was the theft of indigenous Papuan land by the Indonesian government and foreign corporations in connection to extractive industries such as mining, logging and palm oil plantations.

    The appropriation of traditional lands without the consent of the Papuan people violates their right to land and self-determination, leading to environmental degradation, loss of livelihood, and displacement of Indigenous communities.

    The tribunal’s judgment underscores how the influx of non-Papuan settlers and the Indonesian government’s policies have led to the marginalisation of Papuan culture and identity. The demographic shift due to transmigration programmes has significantly reduced the proportion of Indigenous Papuans in their own land.

    Moreover, a rise in militarisation in West Papua has often led to heightened repression, with potential human rights violations, forced displacement and further marginalisation of the indigenous communities.

    The decision to station additional military forces in West Papua, especially in conflict-prone areas like Nduga, Yahukimo and Intan Jaya, reflects a continuation of Indonesia’s militarised approach to governance in the region.

    Indonesian security forces . . . “the main goal of the new battalions is to assist the government in accelerating development and improving the prosperity of the Papuan people,” says Armed Forces chief General Agus Subiyanto. Image: Antara

    Security pact
    The Indonesia-Papua New Guinea Defence Cooperation Agreement (DCA) was signed by the two countries in 2010 but only came into effect this year after the PNG Parliament ratified it in late February.

    Indonesia ratified the pact in 2012.

    As reported by Asia Pacific Report, PNG’s Foreign Minister Justin Tkatchenko and Indonesia’s ambassador to PNG, Andriana Supandy, said the DCA enabled an enhancement of military operations between the two countries, with a specific focus on strengthening patrols along the PNG-West Papua border.

    This will have a significant impact on civilian communities in the areas of conflict and along the border. Indigenous people in particular, are facing the threat of military takeovers of their lands and traditional border lines.

    Under the DCA, the joint militaries plan to employ technology, including military drones, to monitor and manage local residents’ every move along the border.

    Human rights
    Prabowo, Defence Minister prior to being elected President, has a controversial track record on human rights — especially in the 1990s, during Indonesia’s occupation of East Timor.

    His involvement in military operations in West Papua adds to fears that the new battalions may be used for oppressive measures, including crackdowns on dissent and pro-independence movements.

    As indigenous communities continue to be marginalised, their calls for self-determination and independence may grow louder, risking further conflict in the region.

    Without substantial changes in the Indonesian government’s approach to West Papua, including addressing human rights abuses and engaging in meaningful dialogue with indigenous leaders, the future of West Papuans remains uncertain and fraught with challenges.

    With ongoing military operations often accused of targeting indigenous populations, the likelihood of further human rights violations, such as extrajudicial killings, arbitrary detentions, and forced displacement, remains high.

    Displacement
    Military operations in West Papua frequently result in the displacement of indigenous Papuans, as they flee conflict zones.

    The presence of more battalions could drive more communities from their homes, deepening the humanitarian crisis in the region. Indigenous peoples, who rely on their land for survival, face disruption of their traditional livelihoods and rising poverty.

    The Indonesian government launched the Damai Cartenz military operation on April 5, 2018, and it is still in place in the conflict zones of Yahukimo, Pegunungan Bintang, Nduga and Intan Jaya.

    Since then, according to a September 24 Human Rights Monitor update, more than 79,867 West Papuans remain internally displaced.

    The displacement, killings, shootings, abuses, tortures and deaths are merely the tip of the iceberg of what truly occurs within the tightly-controlled military operational zones across West Papua, according to Benny Wenda, a UK-based leader of the United Liberation Movement of West Papua (ULMWP).

    The international community, particularly the United Nations and the Pacific Islands Forum have been criticised for remaining largely silent on the matter. Responding to the August 31 PIF communique reaffirming its 2019 call for the UN High Commissioner for Human Rights visit to West Papua, Wenda said:

    “[N]ow is the time for Indonesia to finally let the world see what is happening in our land. They cannot hide their dirty secret any longer.”

    Increased global attention and intervention is crucial in addressing the humanitarian crisis, preventing further escalations and supporting the rights and well-being of the West Papuans.

    Without meaningful dialogue, the long-term consequences for the indigenous population may be severe, risking further violence and unrest in the region.

    As Prabowo was sworn in, Wenda restated the ULMWP’s demand for an internationally-mediated referendum on independence, saying: “The continued violation of our self-determination is the root cause of the West Papua conflict.”

    Ali Mirin is a West Papuan academic from the Kimyal tribe of the highlands bordering the Star Mountain region of Papua New Guinea. He is a contributor to Asia Pacific Report and Green Left in Australia.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Australia: Operation Eclipse Pooraka raid

    Source: South Australia Police

    Police have raided the suspected safehouse of one of the major syndicates involved in the sale of illicit tobacco in South Australia.

    Operation Eclipse detectives converged on the Pooraka premises yesterday (Thursday 24 October) and discovered illicit tobacco including imported loose tobacco and more than 200 large boxes of imported cigarette cartons.

    Besides the huge quantity of cigarettes, initial estimate indicates street value of up to $1M, detectives also found more than $10K US currency and $10K AUD currency concealed in walls of the premises.

    A commercial cash counter was also found at the premises.

    Operation Eclipse tactical commander Detective Chief Inspector Brett Featherby said police suspected the premises was one of several in the metropolitan area being used by the organised crime syndicates to facilitate their illegal activities.

    He appealed to the neighbours of any industrial properties and warehouses who had noticed increased movements of vehicles or light trucks in recent months to contact police.

    Similarly, any landlord who may have recently rented such a premises to any individual they may have suspicions around to contact police.

    “We are aware that illicit tobacco is being transported from interstate in small trucks, such is the quantity being sold,’’ he said.

    “I would ask any neighbour or landlord who has noticed this type of activity to contact police,’’ he said.

    Members of the public who are purchasing illicit tobacco products are directly supporting the organised crime syndicates who are driving the current Operation Eclipse related crime series.

    Anyone who has any information that may assist police in relation to Operation Eclipse offending including the sale and supply of illegal tobacco, is asked to contact Crime Stoppers on 1800 33 000 or online at www.crimestopperssa.com.au – you can remain anonymous.

    MIL OSI News –

  • MIL-OSI Security: Support to German-led action to halt at least EUR 300 million in online fraud

    Source: Eurojust

    The General Public Prosecution Office of Dresden and the Police Directorate of Chemnitz started investigations in June 2020, following complaints from online investors. They had been lured to professionally designed websites, promising high returns on low investments. Victims only received a maximum of 3% of their initial investment, if any money was returned at all. Through the websites, the perpetrators managed to gain access to personal data and bank account details, creating fake customer accounts to lend credibility to the scheme.

    To date, around 120 German victims are known, who have lost approximately EUR 12 million. However, further assessments by German investigators indicate that there are many more victims worldwide, with the fraud totaling at least EUR 300 million. It could even be as high as EUR 500 million. As result of these investigations, a number of suspects have been identified, including the one alleged main perpetrator, who has now been arrested. Investigations into the fraud are ongoing.

    Due to links with Serbia, a JIT was set up with the help of the Agency in February this year, to ensure close cooperation between German and Serbian judicial and law enforcement investigators. Eurojust also organised four coordination meetings with participation of German, Cypriot and Serbian representatives to prepare for the action day and assisted with the execution of European Investigation Orders and requests for Mutual Legal Assistance to Serbia.

    During the action day, 22 places were searched in Cyprus and Serbia. Furthermore, computer equipment, hard drives, mobile phones and digital data have been seized. Germany will ask the Cypriot authorities to surrender the arrested suspect.

    The action day was carried out at the request of and by the following authorities on the ground:

    • Germany: General Public Prosecutor’s Office (Generalstaatsanwaltschaft) Dresden; Police Directorate (Kriminalpolizeiinspektion) Chemnitz
    • Cyprus: Cyprus Police
    • Serbia: Special Prosecutоr’s Office for High-Tech Crime, Service for Combating High-Tech Crime (MOI)

    MIL Security OSI –

  • MIL-OSI Global: Ukraine cannot defeat Russia – the best the west can do is help Kyiv plan for a secure post-war future

    Source: The Conversation – UK – By Frank Ledwidge, Senior Lecturer in Military Strategy and Law, University of Portsmouth

    A friend of mine, usually an intensely optimistic pro-Ukraine analyst, returned from Ukraine last week and told me: “It’s like the German Army in January 1945.” The Ukrainians are being driven back on all fronts – including in the Kursk province of Russia, which they had opened with much hope and fanfare in August. More importantly, they are running out of soldiers.

    For most of 2024, Ukraine has been losing ground. This week, the town of Selidove in the western Donetsk region is being surrounded and, like Vuhledar earlier this month, is likely to fall in the next week or so – the only variable being how many Ukrainians will be lost in the process. Over the winter, the terrible prospect of a major battle to hold the strategically significant industrial town of Pokrovsk beckons.

    Ukrainian forces are steadily losing ground close to the strategically vital town of Pokrovsk, western Donetsk region.
    Institute for the Study of War

    Ultimately, this is not a war of territory but of attrition. The only resource that counts is soldiers – and here the calculus for Ukraine is not positive.

    Ukraine claims to have “liquidated” nearly 700,000 Russian soldiers – with more than 120,000 killed and upwards of 500,000 injured. Its president, Volodymyr Zelensky, admitted in February this year to 31,000 Ukrainian fatalities, with no figure given for injured.

    The problem is these Ukrainian totals are apparently believed by western officials, when the reality is likely to be very different. US sources say the war has seen 1 million people killed and wounded on both sides. Crucially, this includes a growing number of Ukrainian civilians.

    Low morale and desertion, as well as draft-dodging, are now significant problems for Ukraine. These factors are exacerbating already serious recruitment issues, making it hard to supply the front lines with fresh troops.

    A dreadful debate is taking place in Ukraine. The question revolves around whether to mobilise – and risk serious casualties to – the 18-25 age group. Due to economic pressures in the early 2000s, Ukraine suffered a major drop in its birth rate, leaving relatively few people now aged between 15 and 25. Mobilisation and serious attrition of this group may be something Ukraine simply can’t afford, given the already serious demographic crisis the country faces.

    And even if this mobilisation does go ahead, by the time the necessary politics, legislation, bureaucracy and training have run their course, the war may be over.

    Victory look impossible

    History knows of no example where taking on Russia in an attritional contest has proved successful. Let’s be clear: this means there is a real possibility of defeat – there is no sugar-coating this.

    Zelensky’s maximalist war aims of restoring Ukraine’s pre-2014 borders, along with other unlikely conditions – which were unchallenged and encouraged by a confused but self-aggrandising west – will not be achieved, and the west’s leaders are partly to blame. Ill-advised wars in Afghanistan and the Middle East left western armed forces hollow, poorly armed, and entirely unprepared for a serious and prolonged conflict, with ammunition stocks likely to last weeks at best.

    European promises of millions of artillery rounds have failed to materialise – only 650,000 have been supplied to Kyiv this year, whereas the North Koreans have supplied at least twice that to Russia.

    Only the US has significant stocks of weaponry in the form of thousands of armoured vehicles, tanks and artillery pieces in reserve – and it is unlikely to change its policy of drip-feeding weapons to Ukraine now. Even if such a decision is made, the lead-time for delivery will be years, not months.

    In a confidential briefing I attended recently given by western defence officials, the atmosphere was downbeat. The situation is “perilous” and “as bad as it has ever been” for Ukraine. Western powers cannot afford another strategic disaster like Afghanistan which, in the words of Ernest Hemingway (aptly quoted by the strategist Lawrence Freedman), happened “gradually, then suddenly”.

    There will be no decisive breakthrough by Russia’s army when they take this town or that (say, Pokrovsk). They haven’t the capability to do it. So, there won’t be a collapse – no “Kyiv as Kabul” moment.

    However, there are limits to the losses Ukraine can take. We do not know where that limit lies, but we’ll know when it happens. Crucially, there will be no victory for Ukraine. Unforgivably, there is not, and never has been, a western strategy except to bleed Russia as long as possible.

    More fundamentally, two ancient ethical questions governing whether a war is just must now be asked and answered: whether there is a reasonable prospect of success, and whether the potential gain is proportionate to the cost.

    The problem, as so often before, is that the west has not defined what it considers a success. The cost, meanwhile, is becoming all-too clear.

    To have clearly defined its goals and limits would have constituted the beginnings of a strategy – and the west isn’t good at that. Nato’s leaders now need to move quickly beyond meaningless rhetoric or anything that smacks of “as long as it takes”. We saw where that led in Iraq, Afghanistan and Libya.

    We need a realistic answer to what something like a “win”, or at least an acceptable settlement, now looks like – as well as the extent to which it is achievable, and whether the west is really going to pursue it. And then for western leaders to act accordingly.

    A starting point could be accepting that Crimea, Donetsk and Luhansk are lost – something an increasing number of Ukrainians are beginning to say openly. Then we need to start planning seriously for a post-war Ukraine that will need the west’s suppport more than ever.

    Russia cannot possibly take all, or even the bulk of, Ukraine’s territory. Even if it could, it could not possibly hold it. It is amply clear there will be a compromise settlement.

    So, it is time for Nato – and the US in particular – to articulate a viable end to this nightmarish ordeal, and to develop a pragmatic strategy to deal with Russia in the coming decade. More importantly, the west must plan how to support a heroic, shattered – but still independent – Ukraine.

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

    – ref. Ukraine cannot defeat Russia – the best the west can do is help Kyiv plan for a secure post-war future – https://theconversation.com/ukraine-cannot-defeat-russia-the-best-the-west-can-do-is-help-kyiv-plan-for-a-secure-post-war-future-242010

    MIL OSI – Global Reports –

  • MIL-OSI Global: Students with special educational needs are years behind their peers – they need specialist teachers in mainstream classrooms

    Source: The Conversation – UK – By Johny Daniel, Assistant Professor, School of Education, Durham University

    BearFotos/Shutterstock

    A new report from the National Audit Office into special educational needs provision in England has concluded that despite a significant increase investment over the last decade, “the system is still not delivering better outcomes for children and young people”.

    This is borne out by my research. Students with special educational needs in England are significantly behind in reading, writing and maths compared to their classmates.

    Laws like the 2014 Children and Families Act, which aimed to improve support for these students, haven’t closed the gap. My recent research suggests that we need to rethink current educational policies and practices.

    My study looked at data from 2.5 million year 6 students (aged ten and 11) between 2014 and 2019. It shows that students with special educational needs are significantly behind in key academic areas.

    On average, students with special educational needs are two years behind in writing and one and a half years behind in reading and maths. The gap in maths is growing, which is especially worrying. It shows that current educational strategies are failing these students.

    Not all students with special educational needs face the same challenges. Students with intellectual disabilities were, on average, more than two years behind in writing and maths. In contrast, students with autism spectrum disorder and visual impairment do somewhat better, especially in reading, but they are still, on average, about one year behind.

    Rethinking support

    Despite well-intentioned policies, current educational frameworks are falling short. A major issue is the heavy reliance on teaching assistants as the main support for students with special educational needs in mainstream schools.

    Teaching assistants are dedicated and play an important role in classrooms. However, research shows that their involvement can sometimes have negative effects on academic outcomes due to a limited range of teaching methods and lack of professional development. Over-relying on teaching assistants without specialised support might be one reason for the continuing achievement gap.

    This raises important questions. If we would not accept teaching assistants as the main instructors for typical students, it should not be acceptable for students with special educational needs, who have more complex learning needs.

    Support in schools also comes from special educational needs coordinators. They manage the school’s approach to supporting students with special educational needs. They handle administrative tasks, work with parents and outside agencies, and ensure legal compliance. But while their role is important, they usually do not teach students directly.

    One solution is to have specialised special education teachers in mainstream schools. This is not just a suggestion; it’s a critical need.

    Special education teachers are trained educators who work directly with students needing extra support. They teach tailored lessons, adapt teaching materials, and use specialised strategies to meet individual learning needs. Their focus is on providing hands-on educational help within the school.

    Learning from other countries

    Integrating special education teachers into our mainstream classrooms, as seen in countries such as the US and Singapore, could be the key to better supporting our students.

    In these countries, special education teachers are part of the mainstream classrooms. They complete certification programmes, learning advanced skills in assessing students’ needs, developing tailored support and creating individual education plans. They teach alongside general educators, ensuring that students with special educational needs are not left out but receive high-quality support.

    This approach addresses both academic and emotional needs in the classroom, providing an effective support system.

    Similar steps should be taken in England to establish comprehensive special education teacher training programmes. This could include postgraduate certifications in special education or specialised modules in existing teacher education programmes.

    Specialist teachers could help contain the attainment gap.
    PeopleImages.com – Yuri A/Shutterstock

    Inspection frameworks like Ofsted must include specific criteria to evaluate the presence and effectiveness of specialised support in classrooms for students with special educational needs.

    Schools should be encouraged to hire qualified special education teachers, and government funding models must be changed to support these professionals. Also, ongoing professional development should be a priority, ensuring that all educators expand their expertise in proven teaching methods.

    By aligning teacher training, hiring and policies, England can reduce its reliance on teaching assistants as the main support for students with special educational needs. Instead, schools can have strong support systems led by trained special education teachers. These specialists can work with teaching assistants and classroom teachers to provide more effective, targeted support.

    This change would provide students with special educational needs with improved overall quality of teaching and learning. This could lead to mainstream classrooms fostering a truly inclusive educational environment.

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

    – ref. Students with special educational needs are years behind their peers – they need specialist teachers in mainstream classrooms – https://theconversation.com/students-with-special-educational-needs-are-years-behind-their-peers-they-need-specialist-teachers-in-mainstream-classrooms-240147

    MIL OSI – Global Reports –

  • MIL-OSI USA: Statement from National Economic Advisor Lael Brainard on National Security Memorandum (NSM) on Artificial Intelligence  (AI)

    US Senate News:

    Source: The White House
    Today, the President is issuing the first-ever National Security Memorandum (NSM) on Artificial Intelligence (AI). The fundamental premise is that AI will have significant implications for national security. The AI NSM sets out goals to enable the US Government to harness cutting-edge AI technologies, and to advance international consensus and governance around AI.
    In addition, there are implications for economic policy. The AI National Security Memorandum establishes that retaining US leadership in the most advanced AI models will be vital for our national security in coming years. The US lead today on the most advanced AI models reflects several important US economic strengths: our innovative private sector, the ability to develop and source world class talent, strengths in advanced semiconductor design, dynamic capital allocation, and abundant compute power.
    We should not take those strengths for granted in the future. Indeed, we are all familiar with past instances when we saw critical technologies and supply chains that were developed and commercialized here in the US migrate offshore for lack of critical public sector support. That is why we are laser focused on maintaining the strongest AI ecosystem in the world here in the United States. The NSM directs the National Economic Council to coordinate an economic assessment of the relative competitive advantage of the US private sector AI ecosystem.
    Sustaining US preeminence in frontier AI into the future will require strong domestic foundations in semiconductors, infrastructure, and clean energy—including the large datacenters that provide computing resources. The private sector is already making significant investments in AI innovation, and now we’re making sure the government is moving quickly on policy changes and the support necessary to enable rapid AI infrastructure growth over the next several years. The historic Biden-Harris investment laws will be critical enablers.
    Developing AI systems will require a large volume of the most advanced semiconductors. The CHIPS and Science Act is enabling major investments here in the US for the fabrication of the leading-edge semiconductors that are critical to AI frontier models, in close proximity to world-class chips designers and downstream customers.
    One of the most pressing needs is the rapid growth in computational power for the training and operation of frontier AI models. AI datacenters will need to run on clean energy and in order to meet their needs we will need to accelerate the deployment of transmission and clean energy projects. We will meet these needs while keeping residential electricity costs low and meeting our climate goals. Fortunately, the Bipartisan Infrastructure Law and the clean energy provisions of the Inflation Reduction Act have given us a good foundation to build on. We are committed to helping navigate permitting processes across the federal government, and working with states and localities. We took a step towards supporting these goals with the Task Force on AI Datacenter Infrastructure that we launched last month. And we have seen a number of recent announcements of companies investing in projects that will bring new clean energy online to power AI data centers.
    Having the right workforce and talent will also play a key role in developing large-scale AI datacenters. This will range from AI experts to pipefitters and electrical workers. We are taking action to ensure AI infrastructure creates good jobs, while investing in our workforce to enable American workers to drive innovation.
    Of course, all of these efforts must be governed by the critical guardrails established last year by the Executive Order on Safe, Secure, and Trustworthy Artificial Intelligence and commitments we secured last year from leading AI companies to manage the risks posed by AI. Today’s NSM is just the latest step in a series of actions thanks to the leadership and diplomatic engagement of the President and Vice President, and there will be additional steps taken in the coming months to further support US leadership in AI.

    MIL OSI USA News –

  • MIL-OSI Europe: Written question – How to safeguard and strengthen the partnership with Morocco – E-002131/2024

    Source: European Parliament

    17.10.2024

    Question for written answer  E-002131/2024
    to the Commission
    Rule 144
    Thierry Mariani (PfE)

    In response to the Court of Justice of the European Union (CJEU) decision on Friday, 4 October invalidating the agreements between the European Union and Morocco, Morocco has reiterated its constant position of not subscribing to any agreement or legal instrument that does not respect its territorial integrity and national unity, stressing the solidity and importance of the strategic relations between the European Union and Morocco.

    • 1.In this context, what action does the Commission intend to take to safeguard and strengthen this historic and essential partnership, particularly in respect of the economy, energy and migration, while respecting Morocco’s sovereignty?
    • 2.How does the Commission intend to support a pragmatic approach promoting stability and cooperation in the region, while ensuring that the CJEU’s legal decisions do not get in the way of Euro-Moroccan relations?
    • 3.Lastly, what initiatives does the Commission intend to take to strengthen dialogue with Morocco and ensure that the mutual interests of the two partners, particularly in terms of security and development, are safeguarded and furthered?

    Submitted: 17.10.2024

    Last updated: 24 October 2024

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Implementation of the ICJ advisory opinion as regards EU trade with illegal Israeli settlements – E-002150/2024

    Source: European Parliament

    17.10.2024

    Question for written answer  E-002150/2024
    to the Commission
    Rule 144
    Matjaž Nemec (S&D), Tineke Strik (Verts/ALE), Barry Andrews (Renew), Catarina Vieira (Verts/ALE), Daniel Attard (S&D), Irena Joveva (Renew), Lynn Boylan (The Left), Cecilia Strada (S&D), Abir Al-Sahlani (Renew), Billy Kelleher (Renew), Thomas Bajada (S&D), Brando Benifei (S&D), Raphaël Glucksmann (S&D), Pierre Jouvet (S&D), Marco Tarquinio (S&D), Aodhán Ó Ríordáin (S&D), Marc Botenga (The Left), Hana Jalloul Muro (S&D), Ana Miranda Paz (Verts/ALE), Murielle Laurent (S&D), Thijs Reuten (S&D), Chloé Ridel (S&D), Nora Mebarek (S&D), Eric Sargiacomo (S&D), Alessandra Moretti (S&D), Alex Agius Saliba (S&D), Evin Incir (S&D), Seán Kelly (PPE), Maria Walsh (PPE), Nina Carberry (PPE)

    All Member States agree that Israeli settlements are illegal under international law and are an obstacle to a two-state solution, as confirmed by the European Council conclusions of 22 March 2024[1].

    By trading with the illegal Israeli settlements, the EU is not only supporting their continuation and the abuses underpinning them, but also breaching its obligations under international law.

    On 19 July 2024, the International Court of Justice (ICJ) ruled[2] that states are under an obligation ‘to abstain from entering into economic or trade dealings with Israel concerning the Occupied Palestinian Territory or parts thereof which may entrench its unlawful presence in the territory; … and to take steps to prevent trade or investment relations that assist in the maintenance of the illegal situation created by Israel in the Occupied Palestinian Territory’.

    The current EU policy of differentiation[3], whereby goods made in the Israeli settlements are not covered by the EU-Israel Association Agreement but traded through a ‘technical arrangement’, does not comply with the obligations laid out by the ICJ, which require a blanket ban on trade with the settlements.

    Will the Commission comply with its obligations under international law and urgently ban all trade with the illegal Israeli settlements?

    Submitted: 17.10.2024

    • [1] Paragraph 26, https://data.consilium.europa.eu/doc/document/ST-7-2024-INIT/en/pdf.
    • [2] Paragraph 278, https://www.icj-cij.org/sites/default/files/case-related/186/186-20240719-adv-01-00-en.pdf.
    • [3] https://policy.trade.ec.europa.eu/eu-trade-relationships-country-and-region/countries-and-regions/israel_en.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: The Pandemic Institute celebrates three years of work

    Source: City of Liverpool

    The Pandemic Institute, a world leading facility committed to helping the world prevent, prepare, and respond more effectively to pandemics, celebrates three years of vital work to keep the public safe.

    Since opening in autumn 2021, the Institute has advanced research to predict and prepare for the next pandemic. It’s built resilience in society to respond and recover from COVID-19 and future health crises and worked to prevent disease outbreaks and epidemics from developing into pandemics.

    Ove the last three years The Pandemic Institute has:

    • Supported a portfolio of research worth more than £50m led by The Pandemic Institute’s investigators based at the University of Liverpool, Liverpool School of Tropical Medicine, and Liverpool John Moores University.
    • Established research industry partnerships with a value of more than £5m, strengthening the local economy and employment prospects. One such partnership is with CSL Seqirus, a global leader in influenza prevention. Together they are researching both the threat of seasonal influenza and the development of innovative approaches to pandemic preparedness and response.
    • Awarded £3.6m in critical pandemic research funding, and responded rapidly to emerging infections such as Mpox, which was recently declared a global emergency by the World Health Organisation (WHO).
    • Provided funding towards the development of diagnostics for some of the world’s deadliest viruses including Crimean-Congo Haemorrhagic Fever (CCHF). Transmitted by tick bites, it has a mortality rate of around 30% but there is currently no vaccine. Liverpool School of Tropical Medicine has developed a rapid point-of-care lateral flow test, as well as conducting clinical trials to assess a potential treatment.
    • Supported researchers at Liverpool John Moores University who are looking at health inequalities and resilience in communities during a pandemic, and how future responses can be tailored and improved.
    • Invested in infrastructure including a new pre-clinical trials unit for testing new vaccines and treatments, based at the University of Liverpool.
    • Provided critical advice and support on pandemic prevention and preparedness to the UK Health Security Agency, Department of Health and Social Care, and other government departments.

    Professor Tom Solomon, Director of The Pandemic Institute said: “I’m incredibly proud of the work we’ve done in just three short years, helping to develop new diagnostic tests, treatments and vaccines, for emerging infection threats, and strengthening the research infrastructure.

    “Thanks to our dedicated and ongoing efforts we are in a position to rapidly mobilise funding for essential research and be flexible in times of swiftly changing circumstances.”

    Director of Public Health for Liverpool, Professor Matthew Ashton, said: “Liverpool has a rich history of delivering bold public health interventions, and the launch of The Pandemic Institute continued our long and proud tradition.

    “The funding shows the ongoing commitment to delivering an innovative response to pandemics on an international scale.

    “It is playing a vital role in the global work to tackle the next pandemic, wherever and whenever that will be, and we should be immensely proud of the foresight the city showed in establishing it.”

    What’s next

    The Pandemic Institute will continue to develop new infrastructure in Liverpool to harness the combined expertise of the region.

    In spring, The Pandemic Institute was awarded funding as part of the Liverpool City Region’s Investment Zone plans. Part of the £160m Government pledge will support the Institutes’ ambitions to build a new Pandemic Preparedness and Response Facility in Liverpool containing state-of-the-art research laboratories that will strengthen the UK’s infectious disease research and innovation capabilities.

    For more information about The Pandemic Institute visit www.thepandemicinstitute.org.

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Ministry of Social Justice and Empowerment set to host ‘SAMAGAM’ – A Grand Finale celebrating month-long Initiatives for Senior Citizens

    Source: Government of India (2)

    Posted On: 24 OCT 2024 1:14PM by PIB Delhi

    Union Ministry of Social Justice and Empowerment (MoSJE) is set to host the Grand Finale Event, ‘SAMAGAM’, on 25th October 2024 at Rang Bhawan Auditorium, Akashvani Complex, New Delhi. The event would mark the culmination of a series of month-long activities organized by the Ministry, aimed at promoting the dignity, respect, and security of senior citizens across the Nation.

    The event would be presided over by Union Minister for Social Justice and Empowerment, Dr. Virendra Kumar as Chief Guest, in the august presence of Ministers of State (SJE), Shri Ramdas Athawale and Shri B. L. Verma, along with Dr. Vinod Kumar Paul, Member, NITI Aayog. The Grand Finale would showcase the outcomes of these efforts, highlighting the positive impact made through policy interventions, community participation, and public outreach.

    Over the past month, the Ministry, in collaboration with various Ministries, Departments, and public stakeholders, has implemented a wide range of initiatives for the welfare of senior citizens. These programmes were focused on enhancing their social and economic inclusion, providing them access to essential services, and raising public awareness about the challenges they face.

    ‘SAMAGAM’ is a testament to the Ministry’s unwavering commitment to senior citizens’ welfare. Through innovative programmes, collaborative efforts with stakeholders, and policy frameworks designed to address the needs of the elderly, the Ministry has worked tirelessly to ensure that senior citizens are not only supported but celebrated as valued members of society.

    The event will also serve as a platform to reinforce the Ministry’s future goals for empowering senior citizens, focusing on health, financial security, and community engagement. In recognizing the contributions of senior citizens to society, ‘SAMAGAM’ aims to inspire greater societal responsibility towards creating a more inclusive, compassionate, and secure environment for the elderly.

    *****

    VM

    (Release ID: 2067619) Visitor Counter : 44

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: NHRC takes suo motu cognizance of the reported death of a four-year-old boy after a part of a machine in an open-air gym fell on him in a municipality-run park in West Delhi’s Moti Nagar

    Source: Government of India

    NHRC takes suo motu cognizance of the reported death of a four-year-old boy after a part of a machine in an open-air gym fell on him in a municipality-run park in West Delhi’s Moti Nagar

    Expressing concern over the condition of equipment in other public parks, issues notices to the Delhi Chief Secretary, Vice-Chairman, DDA, Commissioner, MCD and Secretary, NDMC calling for a detailed report

    Delhi Police Commissioner also asked for his comments on the subject along with the status of the police investigation in the instant case

    Posted On: 24 OCT 2024 12:38PM by PIB Delhi

    The National Human Rights Commission (NHRC), India has taken suo motu cognizance of a media report that a four-year-old boy died after a part of a machine in an open-air gym fell on him in a municipality-run park in West Delhi’s Moti Nagar on 13th October, 2024. Reportedly, the people present on the spot suspected that the nuts and bolts of the equipment were loose which led to the incident.

    The Commission has observed that the contents of the media report, if true, raise a serious issue of violation of human rights due to alleged negligence by the authorities in the maintenance of the equipment, installed in the public park. The incident raises serious concerns about the condition of equipment in other public parks governed, managed and maintained by the local government bodies in Delhi. Accordingly, it has issued notices to the Chief Secretary, Government of NCT of Delhi, Vice-Chairman, Delhi Development Authority (DDA), Commissioner, Municipal Corporation of Delhi (MCD) and Secretary, New Delhi Municipal Council (NDMC) calling for a detailed report in the matter within four weeks. The authorities are also expected to inform whether any compensation has been paid to the aggrieved family.

    The report should also include the status of the maintenance and safety audit of the swings and gym equipment, etc. installed in the public parks under their jurisdiction in Delhi. The Commission has also asked the Commissioner of Police, Delhi to submit his comments on the subject along with the status of the police investigation being conducted in the instant case.

    *****

    NSK/ VCK

     

    (Release ID: 2067604) Visitor Counter : 62

    MIL OSI Asia Pacific News –

  • MIL-OSI Video: Haiti: the situation has worsened – BINUH Briefing | United Nations

    Source: United Nations (Video News)

    Briefing by María Isabel Salvador, Special Representative of the Secretary-General for Haiti and Head of BINUH, on the question concerning Haiti – Security Council, 9757th meeting.

    ———————–

    Addressing the Security Council, Salvador said, “The situation in Haiti has regrettably worsened. There are more than 700,000 internally displaced persons, which represents a 22 per cent increase in the last 3 months. The political process, despite initial advances, which I reported in July, is now facing significant challenges, turning hope into deep concern.”

    She also said, “The security situation remains extremely fragile, with renewed peaks of acute violence. Haitians continue to suffer across the country as criminal gang activities escalate and expand beyond Port-au-Prince, spreading terror and fear, overwhelming the national security apparatus. The humanitarian situation is even more dire.”
    She continued, “The MSS mission remains critically under-resourced, which could impact deployment and impede it from carrying out its tasks in support of the Haitian National Police and of the Forces Armées d’Haïti.”

    Also addressing the Council Catherine Russell, UNICEF Executive Director, said, “So far, this year, we have seen a staggering increase in reported incidents of sexual violence against women and children, including gender-based violence. Armed groups are also actively recruiting and using children in their operations. We estimate that children account for 30 to 50 percent of armed group members. They are being used as informants, cooks, and sex slaves, and they are being forced to perpetrate armed violence themselves.”

    She concluded, “This is a pivotal moment for the country … with the Transitional Presidential Council and the Government now in place leading the effort … and with the Multinational Security Support Mission supporting security initiatives. These are important steps. Now we must do our part. The international community has the tools, and the resources to help Haiti emerge from this crisis, and to embark on a sustained road to recovery. The question is one of will.”

    Antonio Rodrigue, Haitian Permanent Representative to the United Nations, said “I would like to take this opportunity to express my deep concern regarding the alarming situation of mass deportations of our compatriots by the Dominican Republic. While we acknowledge the inalienable right of any state to manage its borders and enforce its migration policies, these actions must align with the fundamental principles of international law, especially those that safeguard human dignity and the rights of migrants.”

    Roberto Álvarez Gil, Minister for Foreign Affairs of Dominican Republic, said, “The Dominican government cannot accept the reckless call to halt repatriations, as this would be equivalent to declaring an open border, encouraging greater irregular migration to the country. We will never allow this.”

    He also said, “The crisis enveloping Haiti is its own responsibility, exacerbated by the lack of timely and sustained support from the international community.”

    Erastus Ekitela Lokaale, Permanent Representative of Kenya to the United Nations, said, “While the MSS is a critical and innovative intervention, it is only part of the solution. Haiti’s stability will only be accomplished through a multi-pronged approach that addresses the root causes of its challenges.”

    https://www.youtube.com/watch?v=2z2IZLJYstU

    MIL OSI Video –

  • MIL-OSI USA: CHP recovers more than 2,000 stolen vehicles in Oakland since February

    Source: US State of California 2

    Oct 23, 2024

    What you need to know: California Highway Patrol officers conducted blitz operations this weekend, targeting sideshows that led to 22 arrests and the seizure of 36 vehicles. These actions are part of the state’s ongoing enforcement surge in the region, in partnership with the city, which has resulted in 1,125 arrests, and the seizure of 2,213 stolen vehicles and 110 illegal guns since February 2024. 

    OAKLAND – The California Highway Patrol cracked down on sideshows in Oakland this weekend as part of Governor Newsom’s enforcement surge to improve public safety in Alameda County and the East Bay. This week, CHP responded to and subsequently conducted investigations arising from multiple sideshows in the region, arresting 22 individuals and seizing 36 vehicles.

    Governor Newsom launched the CHP operation in February in partnership with the City of Oakland, in response to increased public safety needs in the region, including organized retail theft and sideshows. He then again quadrupled the shifts of CHP officers in Alameda County in July to provide CHP support to the city seven days per week. The most recent surge in officers has led to a 57% increase in arrests, a 44% increase in stolen vehicles recovered, and a 188% increase in guns seized compared to the previous three-month period.

    This builds on CHP’s ongoing work in the region, which has led to the arrest of 1,125 suspects, the seizure of 2,123 stolen vehicles, and the seizure of 110 illegal firearms since February.

    “California has provided robust investments to support the Oakland community by cracking down on crime and uplifting programs that help prevent it. Our recent work in Oakland should send a strong message that lawlessness and crime will not be tolerated in our state. I thank our CHP officers for their work on the ground to help make the East Bay safer for all its residents.”

    Governor Gavin Newsom

    According to the California Department of Justice’s most recent verified data, unlike most communities in California, crime spiked considerably in Alameda County last year. Alameda County had the highest homicide, violent crime, and property crime rates of California’s 10 largest counties in 2023. While new verified data will not be available until next year, local reporting indicates that crime appears to be going down in 2024.

     In July, Governor Newsom announced the state was ramping up efforts to crack down on crime in the East Bay by increasing the deployment of CHP officers in Oakland, quadrupling the number of CHP officer shifts over four months to help local agencies target organized crime, sideshows, carjacking, and other criminal activity seven days a week.

    In just the three months since Governor Newsom announced the deployment of additional officers to the area, CHP has made 524 arrests and seized 920 stolen vehicles, and taken 52 firearms off the street. 

    Technology to investigate illegal sideshows

    As part of this work, California installed a network of cameras on state highways, completed in September. The new cameras, announced by Governor Newsom in April, improve vehicle identification, allowing law enforcement agencies to search for vehicles suspected to be linked to crimes and receive real-time alerts about their movement. These cameras have contributed to multiple investigations of sideshows in the area, including the following operations:

    On October 20 at approximately 3:15 a.m., a CHP airplane observed a sideshow in progress at the intersection of 98th Avenue and Edes Avenue in Oakland. A vehicle was identified as a participant, and when an enforcement stop was attempted, the suspect fled from the officers. With constant aerial surveillance and assistance from cameras near the sideshow, ground units safely pursued the suspect and successfully arrested two individuals for attempting to evade law enforcement and impounded the vehicle for 30 days.

    CHP video footage of sideshow on 98th and Edes Avenue 

    CHP video footage of arrest of individual after pursuit on the Bay Bridge

    • Later that evening, at approximately 9:30 p.m., a CHP helicopter observed a sideshow in progress on West Grand Avenue under I-880 in Oakland. Spectators were shining laser lights at the law enforcement aircraft, and upon breaking up the sideshow, 14 individuals were arrested for being spectators at a sideshow and six vehicles were towed.

    Today, CHP conducted investigations into the recent sideshows, issuing a number of search warrants that will result in the seizure of additional vehicles owned by participants and spectators of the sideshows that occurred over the weekend.
     

    “The dedicated men and women of the CHP are working tirelessly to combat crime, improve public safety, and hold sideshow participants accountable for their reckless actions,” said CHP Commissioner Sean Duryee. “We remain committed to ensuring the streets of Oakland are safer for everyone, and we will continue to use every tool at our disposal to uphold the law and protect our residents.”

    Stronger enforcement. Serious penalties. Real consequences.

    Recently, the Governor signed into law a bipartisan package of bills to impose stricter penalties, increase accountability, and strengthen law enforcement’s ability to combat sideshows and deter illegal activities such as drifting, street racing, and blocking intersections. The new laws expand vehicle impoundment authority for law enforcement, including for spectators and those aiding in illegal speed contests and sideshows, standardize terminology for “sideshows” and “street takeovers” statewide, and target reckless driving activities on highways and parking lots.

    The Governor also recently signed into law the most significant bipartisan legislation to crack down on property crime in modern California. Building on the state’s robust laws and record public safety funding, these bipartisan bills establish tough new penalties for repeat offenders, provide additional tools for felony prosecutions, and crack down on serial shoplifters, retail thieves, and auto burglars. 

    Supporting and investing in Oakland 

    In March, the Governor released Caltrans’ 10-Point Action Plan to support the city’s efforts to improve street safety and beautification. The comprehensive plan outlines actionable steps the state is taking to further support the city through blight abatement efforts, homeless encampment resolutions, community outreach initiatives, employment opportunities, and other beautification and safety efforts. A detailed overview of the state’s investments in Oakland and Alameda County is available here.

    California has invested in violence intervention and prevention efforts in the city — including through CalVIP, which provides funding for cities and community-based organizations with the goal of reducing violence in the city and adjacent areas. The state has also expanded opportunities for youth by transforming Oakland’s schools into community schools, mandating and funding after-school programs, awarding Oakland grants for youth coaches, establishing targeted college and career savings accounts, and providing tuition-free community college for students at Oakland community colleges. 

    Videos above may be attributed to the California Highway Patrol. 

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  • MIL-OSI: Visteon Announces Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    VAN BUREN TOWNSHIP, Mich., Oct. 24, 2024 (GLOBE NEWSWIRE) — Visteon Corporation (NASDAQ: VC) today reported third quarter financial results. Highlights include:

    • Sales of $980 million with Growth-over-Market of 6%1
    • Net income of $39 million and adjusted net income of $63 million
    • Adjusted EBITDA of $119 million
    • Launched 30 new products in the quarter and 71 year-to-date
    • New business wins of $4.9 billion year-to-date
    • Net cash of $229 million at quarter end

    Visteon reported solid net sales of $980 million in a challenging production environment. We delivered 6% outperformance relative to customer vehicle production, driven by strong demand for digital cockpit and electrification products. Our market outperformance was offset by lower customer production and reduced customer recoveries resulting from improved semiconductor supply.

    Gross margin in the third quarter was $131 million. Net income attributable to Visteon was $39 million or $1.40 per diluted share and adjusted net income, a non-GAAP measure defined below, was $63 million or $2.26 per diluted share. Net income, as compared to the prior year, includes the favorable impact of strong operational performance and lower net engineering, partially offset by restructuring expense incurred in the third quarter of 2024. Adjusted EBITDA, a non-GAAP measure defined below, was $119 million in the third quarter and reflects the Company’s strong focus on operational execution, commercial excellence, and cost discipline.

    For the first nine months, cash from operations was $224 million, capital expenditures were $96 million and adjusted free cash flow, a non-GAAP measure defined below, was $135 million. The company ended the third quarter with cash of $553 million and debt of $324 million. Our strong balance sheet, with a net cash position of $229 million, provides the flexibility to deliver on our capital allocation priorities.

    Visteon launched 30 new products in the third quarter, with launches across each of its product lines. Key third quarter launches include an infotainment display system on the Tata Punch, highlighting our continued momentum in India; SmartCore(TM) on an electric SUV for Lynk & Co for the European market and the Renault Grand Koleos hybrid for the Korean market; a digital cluster on the Nissan Qashqai, a popular SUV in Europe; and a wireless BMS for the all-electric Jeep Wagoneer.

    Visteon secured $4.9 billion in new business through the first nine months of the year, including $2.5 billion of wins with OEMs in Asia excluding China. Our success in diversifying into adjacent end-markets also continued, with further momentum with two-wheeler and commercial vehicle OEMs. Third quarter wins included a large, curved display for multiple mass market vehicles in Europe for a global OEM, SmartCore™ and display wins for a SUV model for an Indian OEM and for an electric vehicle for a domestic China OEM. We also had a follow-on win for a digital cluster with a two-wheeler OEM in India.

    “Visteon delivered solid sales and growth-over-market in the third quarter, demonstrating our ability to navigate a challenging customer production environment,” said President and CEO Sachin Lawande. “Demand from our customers remains robust for our diverse product portfolio targeting automotive megatrends of digitalization and electrification. Our continued success in securing new business wins and our momentum with two-wheeler and commercial vehicle OEMs provide a strong foundation for future growth.”

    Based on our year-to-date performance and outlook for the fourth quarter, Visteon is updating its full-year 2024 guidance and anticipates sales in the range of $3.85 – $3.90 billion, adjusted EBITDA in the range of $465 – $480 million, and adjusted free cash flow in the range of $165 – $185 million.

    About Visteon

    Visteon is advancing mobility through innovative technology solutions that enable a software-defined and electric future. With next-generation digital cockpit and electrification products, Visteon leverages the strength and agility of its global network with a local footprint to deliver a cleaner, safer and more connected vehicle experience. Headquartered in Van Buren Township, Michigan, Visteon operates in 17 countries worldwide, recorded approximately $3.95 billion in annual sales and booked $7.2 billion of new business in 2023. Learn more at investors.visteon.com/.

    Conference Call and Presentation
    Today, Thursday, October 24, at 9 a.m. ET, the company will host a conference call for the investment community to discuss the quarter’s results and other related items. The conference call is available to the general public via a live audio webcast.

    The dial-in numbers to participate in the call are:

    U.S./Canada: 1-888-330-2508
    Outside U.S./Canada: 1-240-789-2735
    Conference ID: 8897485  

    (Call approximately 10 minutes before the start of the conference.)

    The conference call and live audio webcast, related presentation materials and other supplemental information will be accessible in the Investors section of Visteon’s website.

    Use of Non-GAAP Financial Information

    Because not all companies use identical calculations, adjusted EBITDA, adjusted net income, adjusted EPS, free cash flow and adjusted free cash flow used throughout this press release may not be comparable to other similarly titled measures of other companies.

    In order to provide the forward-looking non-GAAP financial measures for full-year 2024, the company provides reconciliations to the most directly comparable GAAP financial measures on the subsequent slides. The provision of these comparable GAAP financial measures is not intended to indicate that the company is explicitly or implicitly providing projections on those GAAP financial measures, and actual results for such measures are likely to vary from those presented. The reconciliations include all information reasonably available to the company at the date of this press release and the adjustments that management can reasonably predict.

    Forward-looking Information

    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words “will,” “may,” “designed to,” “outlook,” “believes,” “should,” “anticipates,” “plans,” “expects,” “intends,” “estimates,” “forecasts” and similar expressions identify certain of these forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various factors, risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements, including, but not limited to:

    • continued and future impacts of the geopolitical conflicts and related supply chain disruptions, including but not limited to the conflicts in the Middle East, Russia and East Asia and the possible imposition of sanctions;
    • significant or prolonged shortage of critical components from our suppliers, including but not limited to semiconductors, and particularly those who are our sole or primary sources;
    • failure of the Company’s joint venture partners to comply with contractual obligations or to exert influence or pressure in China;
    • conditions within the automotive industry, including (i) the automotive vehicle production volumes and schedules of our customers, (ii) the financial condition of our customers and the effects of any restructuring or reorganization plans that may be undertaken by our customers, including work stoppages at our customers, and (iii) possible disruptions in the supply of commodities to us or our customers due to financial distress, work stoppages, natural disasters or civil unrest;
    • our ability to satisfy future capital and liquidity requirements; including our ability to access the credit and capital markets at the times and in the amounts needed and on terms acceptable to us; our ability to comply with financial and other covenants in our credit agreements; and the continuation of acceptable supplier payment terms;
    • our ability to access funds generated by foreign subsidiaries and joint ventures on a timely and cost-effective basis;
    • general economic conditions, including changes in interest rates and fuel prices; the timing and expenses related to internal restructurings, employee reductions, acquisitions or dispositions and the effect of pension and other post-employment benefit obligations;
    • disruptions in information technology systems including, but not limited to, system failure, cyber-attack, malicious computer software (malware including ransomware), unauthorized physical or electronic access, or other natural or man-made incidents or disasters;
    • increases in raw material and energy costs and our ability to offset or recover these costs; increases in our warranty, product liability and recall costs or the outcome of legal or regulatory proceedings to which we are or may become a party;
    • changes in laws, regulations, policies or other activities of governments, agencies and similar organizations, domestic and foreign, that may tax or otherwise increase the cost of, or otherwise affect, the manufacture, licensing, distribution, sale, ownership or use of our products or assets; and
    • those factors identified in our filings with the SEC (including our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as updated by our subsequent filings with the Securities and Exchange Commission).

    Caution should be taken not to place undue reliance on our forward-looking statements, which represent our view only as of the date of this release, and which we assume no obligation to update. The financial results presented herein are preliminary and unaudited; final financial results will be included in the company’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024. New business wins and re-wins do not represent firm orders or firm commitments from customers, but are based on various assumptions, including the timing and duration of product launches, vehicle production levels, customer price reductions and currency exchange rates.

    Follow Visteon:

    https://www.linkedin.com/company/visteon 
    https://twitter.com/visteon 
    https://www.facebook.com/VisteonCorporation 
    https://www.youtube.com/user/Visteon
    https://www.instagram.com/visteon/ 
    https://mp.weixin.qq.com/?lang=en_US 
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    VISTEON CORPORATION AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
    (In millions except per share amounts)
    (Unaudited)
     
      Three Months Ended   Nine Months Ended
      September 30,   September 30,
        2024       2023       2024       2023  
                   
    Net sales $ 980     $ 1,014     $ 2,927     $ 2,964  
    Cost of sales   (849 )     (871 )     (2,530 )     (2,607 )
    Gross margin   131       143       397       357  
    Selling, general and administrative expenses   (51 )     (52 )     (152 )     (156 )
    Restructuring, net   (28 )     —       (31 )     (2 )
    Interest expense, net   —       (1 )     —       (7 )
    Equity in net income (loss) of non-consolidated affiliates   (3 )     (1 )     (7 )     (8 )
    Other income (expense), net   2       3       7       (4 )
    Income (loss) before income taxes   51       92       214       180  
    Provision for income taxes   (11 )     (21 )     (55 )     (48 )
    Net income (loss)   40       71       159       132  
    Less: Net (income) loss attributable to non-controlling interests   (1 )     (5 )     (7 )     (12 )
    Net income (loss) attributable to Visteon Corporation $ 39     $ 66     $ 152     $ 120  
                   
    Comprehensive income (loss) $ 69     $ 58     $ 153     $ 114  
    Less: Comprehensive (income) loss attributable to non-controlling interests   (7 )     (4 )     (10 )     (6 )
    Comprehensive income (loss) attributable to Visteon Corporation $ 62     $ 54     $ 143     $ 108  
                   
    Basic earnings (loss) per share attributable to Visteon Corporation $ 1.41     $ 2.35     $ 5.51     $ 4.26  
                   
    Diluted earnings (loss) per share attributable to Visteon Corporation $ 1.40     $ 2.32     $ 5.45     $ 4.20  
                   
    Average shares outstanding (in millions)              
    Basic   27.6       28.1       27.6       28.2  
    Diluted   27.9       28.5       27.9       28.6  
    VISTEON CORPORATION AND SUBSIDIARIES
    CONSOLIDATED BALANCE SHEETS
    (In millions)
     
      (Unaudited)    
      September 30,   December 31,
        2024       2023  
    ASSETS      
    Cash and equivalents $ 550     $ 515  
    Restricted cash   3       3  
    Accounts receivable, net   719       666  
    Inventories, net   321       298  
    Other current assets   109       134  
    Total current assets   1,702       1,616  
           
    Property and equipment, net   438       418  
    Intangible assets, net   157       90  
    Right-of-use assets   103       109  
    Investments in non-consolidated affiliates   27       35  
    Deferred tax assets   387       384  
    Other non-current assets   79       75  
    Total assets $ 2,893     $ 2,727  
           
    LIABILITIES AND EQUITY      
    Short-term debt $ 18     $ 18  
    Accounts payable   547       551  
    Accrued employee liabilities   98       99  
    Current lease liability   29       30  
    Other current liabilities   245       233  
    Total current liabilities   937       931  
           
    Long-term debt, net   306       318  
    Employee benefits   143       160  
    Non-current lease liability   79       79  
    Deferred tax liabilities   46       31  
    Other non-current liabilities   109       85  
           
    Stockholders’ equity:      
    Common stock   1       1  
    Additional paid-in capital   1,369       1,356  
    Retained earnings   2,426       2,274  
    Accumulated other comprehensive loss   (263 )     (254 )
    Treasury stock   (2,348 )     (2,339 )
    Total Visteon Corporation stockholders’ equity   1,185       1,038  
    Non-controlling interests   88       85  
    Total equity   1,273       1,123  
    Total liabilities and equity $ 2,893     $ 2,727  
    VISTEON CORPORATION AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In millions)
    (Unaudited)
     
      Three Months Ended   Nine Months Ended
      September 30,   September 30,
        2024       2023       2024       2023  
    OPERATING              
    Net income (loss) $ 40     $ 71     $ 159     $ 132  
    Adjustments to reconcile net income (loss) to net cash provided from (used by) operating activities:              
    Depreciation and amortization   25       24       71       79  
    Non-cash stock-based compensation   10       9       31       26  
    Equity in net loss (income) of non-consolidated affiliates, net of dividends remitted   3       1       7       8  
    Tax valuation allowance benefit   (7 )     —       (7 )     —  
    Other non-cash items   3       1       10       (3 )
    Changes in assets and liabilities:              
    Accounts receivable   (6 )     (12 )     (55 )     (19 )
    Inventories   —       6       (23 )     23  
    Accounts payable   (5 )     35       3       (54 )
    Other assets and other liabilities   35       (8 )     28       (23 )
    Net cash provided from (used by) operating activities   98       127       224       169  
    INVESTING              
    Capital expenditures, including intangibles   (28 )     (31 )     (96 )     (82 )
    Acquisition of business, net of cash acquired   (48 )     —       (48 )     —  
    Contributions to equity method investments   (1 )     (1 )     (1 )     (1 )
    Loan provided to non-consolidated affiliate   —       —       (5 )     —  
    Other   1       1       2       3  
    Net cash used by investing activities   (76 )     (31 )     (148 )     (80 )
    FINANCING              
    Dividends to non-controlling interests   —       (12 )     —       (27 )
    Short-term debt, net   —       (3 )     —       —  
    Repurchase of common stock   —       (46 )     (20 )     (76 )
    Stock based compensation tax withholding payments   —       (1 )     (7 )     (16 )
    Proceeds from the exercise of stock options   —       4       —       8  
    Principal repayment of term debt facility   (4 )     (4 )     (13 )     (8 )
    Net cash used by financing activities   (4 )     (62 )     (40 )     (119 )
    Effect of exchange rate changes on cash   27       (8 )     (1 )     (8 )
    Net decrease in cash, equivalents, and restricted cash   45       26       35       (38 )
    Cash, equivalents, and restricted cash at beginning of the period   508       459       518       523  
    Cash, equivalents, and restricted cash at end of the period $ 553     $ 485     $ 553     $ 485  

    VISTEON CORPORATION AND SUBSIDIARIES
    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
    (In millions except per share amounts)
    (Unaudited)

    Adjusted EBITDA: Adjusted EBITDA is presented as a supplemental measure of the Company’s performance that management believes is useful to investors because the excluded items may vary significantly in timing or amounts and/or may obscure trends useful in evaluating and comparing the Company’s operating activities across reporting periods. The Company defines adjusted EBITDA as net income attributable to the Company adjusted to eliminate the impact of depreciation and amortization, provision for (benefit from) income taxes, non-cash stock-based compensation expense, net interest expense, net income attributable to non-controlling interests, net restructuring expense, equity in net (income)/loss of non-consolidated affiliates, gain on non-consolidated affiliate transactions, and other gains and losses not reflective of the Company’s ongoing operations. Because not all companies use identical calculations, this presentation of adjusted EBITDA may not be comparable to similarly titled measures of other companies.

      Three Months Ended   Nine Months Ended   Estimated
      September 30,   September 30,   Full Year
    Visteon:   2024       2023       2024       2023       2024  
    Net income attributable to Visteon Corporation $ 39     $ 66     $ 152     $ 120       202  
    Depreciation and amortization   25       24       71       79       96  
    Provision for income taxes   11       21       55       48       75  
    Non-cash, stock-based compensation expense   10       9       31       26       42  
    Restructuring, net   28       —       31       2       34  
    Interest expense, net   —       1       —       7       —  
    Net income attributable to non-controlling interests   1       5       7       12       10  
    Equity in net loss (income) of non-consolidated affiliates   3       1       7       8       9  
    Other   2       1       3       15       5  
    Adjusted EBITDA $ 119     $ 128     $ 357     $ 317     $ 4732  
                       

    Adjusted EBITDA is not a recognized term under U.S. GAAP and does not purport to be a substitute for net income as an indicator of operating performance or cash flows from operating activities as a measure of liquidity. Adjusted EBITDA has limitations as an analytical tool and is not intended to be a measure of cash flow available for management’s discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements. In addition, the Company uses adjusted EBITDA (i) as a factor in incentive compensation decisions, (ii) to evaluate the effectiveness of the Company’s business strategies, and (iii) because the Company’s credit agreements use similar measures for compliance with certain covenants.

    VISTEON CORPORATION AND SUBSIDIARIES
    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
    (In millions except per share amounts)
    (Unaudited)

    Free Cash Flow and Adjusted Free Cash Flow: Free cash flow and adjusted free cash flow are presented as supplemental measures of the Company’s liquidity that management believes are useful to investors in analyzing the Company’s ability to service and repay its debt. The Company defines free cash flow as cash flow provided from operating activities less capital expenditures, including intangibles. The Company defines adjusted free cash flow as cash flow provided from operating activities less capital expenditures, including intangibles as further adjusted for restructuring related payments. Because not all companies use identical calculations, this presentation of free cash flow and adjusted free cash flow may not be comparable to other similarly titled measures of other companies.

      Three Months Ended   Nine Months Ended   Estimated
      September 30,   September 30,   Full Year
    Visteon:   2024       2023       2024       2023       2024  
    Cash provided from (used by) operating activities $ 98     $ 127     $ 224     $ 169       305  
    Capital expenditures, including intangibles   (28 )     (31 )     (96 )     (82 )     (145 )
    Free cash flow $ 70     $ 96     $ 128     $ 87     $ 160  
    Restructuring related payments   3       2       7       6       15  
    Adjusted free cash flow $ 73     $ 98     $ 135     $ 93     $ 1753  
     

    Free cash flow and adjusted free cash flow are not recognized terms under U.S. GAAP and do not purport to be a substitute for cash flows from operating activities as a measure of liquidity. Free cash flow and adjusted free cash flow have limitations as analytical tools as they do not reflect cash used to service debt and do not reflect funds available for investment or other discretionary uses. In addition, the Company uses free cash flow and adjusted free cash flow (i) as factors in incentive compensation decisions and (ii) for planning and forecasting future periods.

    VISTEON CORPORATION AND SUBSIDIARIES
    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
    (In millions except per share amounts)
    (Unaudited)

    Adjusted Net Income and Adjusted Earnings Per Share: Adjusted net income and adjusted earnings per share are presented as supplemental measures that management believes are useful to investors in analyzing the Company’s profitability, providing comparability between periods by excluding certain items that may not be indicative of recurring business operating results. The Company believes management and investors benefit from referring to these supplemental measures in assessing company performance and when planning, forecasting and analyzing future periods. The Company defines adjusted net income as net income attributable to Visteon adjusted to eliminate the impact of restructuring expense, loss on divestiture, gain on non-consolidated affiliate transactions, other gains and losses not reflective of the Company’s ongoing operations and related tax effects. The Company defines adjusted earnings per share as adjusted net income divided by diluted shares. Because not all companies use identical calculations, this presentation of adjusted net income and adjusted earnings per share may not be comparable to other similarly titled measures of other companies.

      Three Months Ended   Nine Months Ended
      September 30,   September 30,
        2024       2023       2024       2023  
    Net income attributable to Visteon $ 39     $ 66     $ 152     $ 120  
                   
    Diluted earnings per share:              
    Net income attributable to Visteon $ 39     $ 66     $ 152     $ 120  
    Average shares outstanding, diluted   27.9       28.5       27.9       28.6  
    Diluted earnings per share $ 1.40     $ 2.32     $ 5.45     $ 4.20  
                   
    Adjusted net income and adjusted earnings per share:              
    Net income attributable to Visteon $ 39     $ 66     $ 152     $ 120  
    Restructuring, net   28       —       31       2  
    Other   2       1       3       15  
    Tax impacts of adjustments   (6 )     —       (7 )     —  
    Adjusted net income $ 63     $ 67     $ 179     $ 137  
    Average shares outstanding, diluted   27.9       28.5       27.9       28.6  
    Adjusted earnings per share $ 2.26     $ 2.35     $ 6.42     $ 4.79  
                   

    Adjusted net income and adjusted earnings per share are not recognized terms under U.S. GAAP and do not purport to be a substitute for profitability. Adjusted net income and adjusted earnings per share have limitations as analytical tools as they do not consider certain restructuring and transaction-related payments and/or expenses. In addition, the Company uses adjusted net income and adjusted earnings per share for internal planning and forecasting purposes.

    1 Excludes Y/Y impact of currency fluctuations
    2 Based on mid-point of the range of the Company’s financial guidance
    3 Based on mid-point of the range of the Company’s financial guidance

    The MIL Network –

  • MIL-OSI: Nasdaq Reports Third Quarter 2024 Results; Fourth Consecutive Quarter of Double-Digit Solutions Revenue Growth

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq: NDAQ) today reported financial results for the third quarter of 2024.

    • Third quarter 2024 net revenue1 was $1.1 billion, or $1.2 billion on a non-GAAP basis2, an increase of 22% over the third quarter of 2023, up 10% on a pro forma3 basis. This included Solutions4 revenue increasing 26%, or 10% on a pro forma basis.
    • Annualized Recurring Revenue (ARR)5 of $2.7 billion increased 31% over the third quarter of 2023, up 8% on a pro forma basis.
    • Financial Technology revenue of $371 million increased 56% over the third quarter of 2023, up 10% on a pro forma basis.
    • Index revenue of $182 million increased 26%, with $62 billion of net inflows over the trailing twelve months and $14 billion in the third quarter.
    • GAAP diluted earnings per share decreased 11% in the third quarter of 2024. Non-GAAP diluted earnings per share increased 5% in the third quarter of 2024 and increased 20% organically.
    • In the third quarter of 2024, the company returned $138 million to shareholders through dividends and $88 million through repurchases of common stock. The company also repaid net $50 million of commercial paper in the third quarter of 2024.

    Third Quarter 2024 Highlights

    (US$ millions, except per share) 3Q24 Change %
    (YoY)    		 Organic change % (YoY) Pro forma change % (YoY)
    GAAP Solutions Revenue $872 26%    
    Non-GAAP Solutions Revenue $906 31% 9% 10%
    Market Services Net Revenue $266 13% 13%  
    GAAP Net Revenue* $1,146 22%    
    Non-GAAP Net Revenue* $1,180 26% 10% 10%
    GAAP Operating Income $448 4%    
    Non-GAAP Operating Income $637 30% 12% 14%
    ARR $2,736 31% 7% 8%
    GAAP Diluted EPS $0.53 (11)%    
    Non-GAAP Diluted EPS $0.74 5% 20%  

    Note: The period over period percentages are calculated based on exact dollars, and therefore may not agree to a recalculation based on rounded numbers shown in the table above. Pro forma results are not calculated in a manner consistent with the pro forma requirements in Article 11 of Regulation S-X. Refer to the footnotes below for further discussion.

    *Net revenues includes $8 million of Other Revenues, which reflect revenues associated with the European power trading and clearing business.

    Adena Friedman, Chair and CEO said, “Nasdaq delivered its fourth consecutive quarter of double-digit Solutions growth with strong overall quarterly performance.

    As we approach the one-year anniversary of the Adenza acquisition, I am proud of our progress to date and excited about driving even greater value for our clients and shareholders.

    The integration continues seamlessly. Through our One Nasdaq strategy we are deepening our partnerships with clients across the financial system and unlocking opportunities for sustained and scalable growth.”

    Sarah Youngwood, Executive Vice President and CFO said, “Nasdaq’s performance continues to reflect the quality and diversity of our platforms, driving strong growth across the business with particular strength in Index and Financial Technology.

    We are continuing to deliver ahead on deleveraging and synergies and are benefiting from significant operating leverage.

    Looking ahead, we remain well positioned to execute on our next phase of sustainable growth.”

    FINANCIAL REVIEW

    • Third quarter 2024 net revenue was $1.1 billion, reflecting 22% growth versus the prior year period while non-GAAP net revenue was $1.2 billion. Revenue growth included a $146 million benefit related to the acquisition of Adenza. Net revenue grew 10% on a pro forma basis.
    • Solutions revenue was $872 million in the third quarter of 2024, up 26% versus the prior year period, or 10% growth on a pro forma basis, reflecting strong growth from Index and Financial Technology.
    • ARR grew 31% year over year, or 8% on a pro forma basis, in the third quarter of 2024 with 14% pro forma ARR growth for Financial Technology and 2% ARR growth for Capital Access Platforms.
    • Market Services net revenue was $266 million in the third quarter of 2024, up 13% versus the prior year period. The increase was primarily driven by a $15 million increase in U.S. equity derivatives and an $11 million increase in U.S. cash equities.
    • Third quarter 2024 GAAP operating expenses were $698 million, an increase of 37% versus the prior year period. The increase for the third quarter was primarily due to the acquisition of Adenza, which resulted in an additional $87 million in amortization expense of acquired intangible assets, and $61 million of other AxiomSL and Calypso operating expenses, as well as organic growth driven by increased investments in technology and our people to drive innovation and long-term growth.
    • Third quarter 2024 non-GAAP operating expenses were $543 million, reflecting 21% growth versus the prior year period, or 5% growth on a pro forma basis. The increase for the third quarter was primarily due to the inclusion of $61 million of AxiomSL and Calypso operating expenses. The pro forma increase reflects growth driven by increased investments in technology and our people to drive innovation and long-term growth, partially offset by the benefit of synergies.
    • Third quarter 2024 cash flow from operations was $244 million, enabling the company to continue to make meaningful progress on its deleveraging plan. In the third quarter, the company returned $138 million to shareholders through dividends and $88 million through repurchases of our common stock. The company also repaid net $50 million of commercial paper in the third quarter of 2024. As of September 30, 2024, there was $1.7 billion remaining under the board authorized share repurchase program.

    2024 EXPENSE AND TAX GUIDANCE UPDATE6

    • The company is updating its 2024 non-GAAP operating expense guidance to a range of $2,150 million to $2,180 million, and is updating its 2024 non-GAAP tax rate guidance to be in the range of 23.5% to 24.5%.

    STRATEGIC AND BUSINESS UPDATES

    • Financial Technology delivered healthy revenue growth in the third quarter. Division revenue increased 10% on a pro forma basis, reflective of the mission-critical nature of the division’s solutions suite. Financial Technology pro forma ARR growth was 14% in the third quarter, with 39 new customers, 110 upsells, and 2 cross-sells. Third quarter highlights include:
      • Nasdaq leapt to 5th place in Chartis’ annual RiskTech100® global ranking. This ranking is widely regarded as the most comprehensive independent study of the world’s major players in risk and compliance technology. The significant jump in ranking reflects the combined power of Nasdaq and Adenza’s technology offerings with Nasdaq and Adenza previously ranking #18 and #10, respectively. Nasdaq Verafin and AxiomSL won Chartis industry awards recognizing Nasdaq’s leadership in financial crime management and in regulatory reporting. The study also highlighted the value of Nasdaq’s governance and sustainability solutions.
      • Financial Crime Management Technology had ARR growth of 24% with 114% net revenue retention and launched new AI product innovations. Financial Crime Management Technology signed 28 new SMB clients, in addition to the previously announced Tier 1 win in July. Nasdaq Verafin extended its track record of product innovation success with its AI Entity Research Copilot now deployed to more than 2,000 U.S. institutions. In the third quarter Nasdaq Verafin announced new enhancements to its Targeted Typology Analytics, an artificial intelligence (AI) based suite of detection capabilities targeting terrorist financing and drug trafficking activity.
      • AxiomSL and Calypso achieved 15% combined pro forma ARR growth. AxiomSL and Calypso delivered a combined 47 upsells and 4 new clients, with 17% of new bookings in the quarter cloud-based. Combined gross revenue retention7 was 97% and net revenue retention8 was 111%. Excluding the impact of a significant bankruptcy first noted in the fourth quarter of 2023, pro forma ARR growth was 16%, gross revenue retention was 98%, and net revenue retention was 112%.
      • Market Technology delivered 14% ARR growth as it continues to capture opportunities associated with the market modernization megatrend. Market Technology was driven by 13 upsells, 1 new client, and 1 cross-sell in the third quarter. ARR growth also benefited from the conversion of a previously mentioned large client delivery.
    • U.S. equity derivatives achieved record quarterly net revenue. In the third quarter of 2024, Nasdaq achieved a record quarter of U.S. equity derivatives net revenue of $107 million, with multi-listed U.S. options market share once again surpassing 30% in the quarter and 19% growth in U.S. index options volume.
    • Index delivered another quarter of outstanding performance and advanced its growth strategy across product innovation, globalization, and institutional client expansion. The Index business had $62 billion in net inflows over the trailing 12 months, with $14 billion in the third quarter. The business achieved another record in Index ETP AUM, averaging $575 billion in the third quarter and reaching $600 billion at quarter-end. Index derivatives trading volumes grew 24% year-over-year, also contributing to revenue growth. Nasdaq launched 35 new products with our partners in the quarter, 20 of which were international. The launches included 8 options overlays and 7 institutional insurance annuity products. Additionally, Nasdaq recently received 2024 Best Index Provider from Structured Retail Products, a global market intelligence provider, highlighting the business’ innovation and success as a strategic partner to our clients.
    • Nasdaq strengthened its listings leadership in the U.S. in the third quarter. Nasdaq listed 33 U.S. operating company IPOs that raised more than $6 billion in proceeds, reflecting an 85% win rate among eligible operating companies in the quarter. These listings contributed to a 75% win rate year-to-date through the third quarter for eligible operating companies comprising of 5 of the top 10 IPOs, including Lineage, the largest offering so far this year. Nasdaq also celebrated its 500th switch to our U.S. exchange in the quarter.
    • Nasdaq celebrated 25 Years of MarketSite in Times Square. MarketSite has stood as a physical embodiment of the Nasdaq brand since its debut and reflects Nasdaq’s culture of driving innovation and delivering valuable client solutions. MarketSite is a hub for Nasdaq’s clients and partners and an integral part of the global finance landscape.
    • Nasdaq continued its progress on its 2024 strategic priorities – Integrate, Innovate, Accelerate – positioning the company to capitalize on opportunities for sustainable, scalable, and resilient growth.
      • Integrate – Since the acquisition of Adenza nearly a year-ago, Nasdaq has actioned more than 80% of its net expense synergy target and continues to delever ahead of plan.
      • Innovate – Nasdaq reached new milestones in deploying AI tools and products including the launch of an internal Generative AI platform with custom-built efficiency tools and completed the rollout of AI copilot tools to all of its developers. Calypso also announced an AI-based solution for X-Value Adjustments (XVA) with up to 100 times faster processing speeds that improves the efficiency of risk calculations for banks, insurers, and other financial institutions. Beyond Nasdaq’s AI innovations, Market Services migrated Nasdaq International Securities Exchange to its next-generation derivatives platform, Fusion. Four of Nasdaq’s U.S. markets and one European equity derivatives market are operating on this platform which provides enhanced performance, including lower latency, higher throughput, and increased productivity.
      • Accelerate – We continue to make progress on our One Nasdaq strategy driving two cross-sells across the Financial Technology division in the quarter. The percentage of cross-sell opportunities in the division’s pipeline is over 10% and Nasdaq remains on track to exceed $100 million in cross-sells by the end of 2027.

    ____________
    1 Represents revenue less transaction-based expenses.
    2 Refer to our reconciliations of U.S. GAAP to non-GAAP Solutions revenue, net revenue, net income attributable to Nasdaq, diluted earnings per share, operating income, operating expenses and organic impacts included in the attached schedules.
    3 Pro forma results are presented assuming AxiomSL and Calypso were included in the prior year quarterly results and revenue for AxiomSL on-premises contracts were recognized ratably for all of 2023 and 2024. Pro forma growth excludes the impacts of foreign currency except for AxiomSL and Calypso, which are not yet calculated on an organic basis. These pro forma results are not calculated, and do not intend to be calculated, in a manner consistent with the pro forma requirements in Article 11 of Regulation S-X. Preparation of this information in accordance with Article 11 would differ from results presented in this release.
    4 Constitutes revenue from our Capital Access Platforms and Financial Technology segments.
    5 Annualized Recurring Revenue (ARR) for a given period is the current annualized value derived from subscription contracts with a defined contract value. This excludes contracts that are not recurring, are one-time in nature or where the contract value fluctuates based on defined metrics. ARR is currently one of our key performance metrics to assess the health and trajectory of our recurring business. ARR does not have any standardized definition and is therefore unlikely to be comparable to similarly titled measures presented by other companies. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. For AxiomSL and Calypso recurring revenue contracts, the amount included in ARR is consistent with the amount that we invoice the customer during the current period. Additionally, for AxiomSL and Calypso recurring revenue contracts that include annual values that increase over time, we include in ARR only the annualized value of components of the contract that are considered active as of the date of the ARR calculation. We do not include the future committed increases in the contract value as of the date of the ARR calculation. ARR is not a forecast and the active contracts at the end of a reporting period used in calculating ARR may or may not be extended or renewed by our customers.
    6 U.S. GAAP operating expense and tax rate guidance are not provided due to the inherent difficulty in quantifying certain amounts due to a variety of factors including the unpredictability in the movement in foreign currency rates, as well as future charges or reversals outside of the normal course of business.
    7 Gross Retention: ARR in the current period over ARR in the prior year period for existing customers excluding price increases and upsells and excluding new customers.
    8 Net Retention: ARR in the current period over ARR in the prior year period for existing customers including price increases and upsells and excluding new customers.

    ABOUT NASDAQ

    Nasdaq (Nasdaq: NDAQ) is a global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    NON-GAAP INFORMATION

    In addition to disclosing results determined in accordance with U.S. GAAP, Nasdaq also discloses certain non-GAAP results of operations, including, but not limited to, non-GAAP Solutions revenue, non-GAAP net revenue, non-GAAP net income attributable to Nasdaq, non-GAAP diluted earnings per share, non-GAAP operating income, and non-GAAP operating expenses, that include certain adjustments or exclude certain charges and gains that are described in the reconciliation table of U.S. GAAP to non-GAAP information provided at the end of this release. Management uses this non-GAAP information internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. We believe our presentation of these measures provides investors with greater transparency and supplemental data relating to our financial condition and results of operations. In addition, we believe the presentation of these measures is useful to investors for period-to-period comparisons of results as the items described below in the reconciliation tables do not reflect ongoing operating performance.

    These measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different from non-GAAP measures used by other companies. In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces their usefulness as a comparative measure. Investors should not rely on any single financial measure when evaluating our business. This information should be considered as supplemental in nature and is not meant as a substitute for our operating results in accordance with U.S. GAAP. We recommend investors review the U.S. GAAP financial measures included in this earnings release. When viewed in conjunction with our U.S. GAAP results and the accompanying reconciliations, we believe these non-GAAP measures provide greater transparency and a more complete understanding of factors affecting our business than U.S. GAAP measures alone.

    We understand that analysts and investors regularly rely on non-GAAP financial measures, such as those noted above, to assess operating performance. We use these measures because they highlight trends more clearly in our business that may not otherwise be apparent when relying solely on U.S. GAAP financial measures, since these measures eliminate from our results specific financial items that have less bearing on our ongoing operating performance.

    Organic revenue and expense growth, organic change and organic impact are non-GAAP measures that reflect adjustments for: (i) the impact of period-over-period changes in foreign currency exchange rates, and (ii) the revenue, expenses and operating income associated with acquisitions and divestitures for the twelve month period following the date of the acquisition or divestiture. Reconciliations of these measures are described within the body of this release or in the reconciliation tables at the end of this release.

    Foreign exchange impact: In countries with currencies other than the U.S. dollar, revenue and expenses are translated using monthly average exchange rates. Certain discussions in this release isolate the impact of year-over-year foreign currency fluctuations to better measure the comparability of operating results between periods. Operating results excluding the impact of foreign currency fluctuations are calculated by translating the current period’s results by the prior period’s exchange rates.

    Restructuring programs: In the fourth quarter of 2023, following the closing of the Adenza acquisition, our management approved, committed to and initiated a restructuring program, “Adenza Restructuring” to optimize our efficiencies as a combined organization. In connection with this program, we expect to incur pre-tax charges principally related to employee-related costs, contract terminations, real estate impairments and other related costs. We expect to achieve benefits primarily in the form of expense and revenue synergies. In October 2022, following our September announcement to realign our segments and leadership, we initiated a divisional alignment program with a focus on realizing the full potential of this structure. In connection with the program, we expect to incur pre-tax charges principally related to employee-related costs, consulting, asset impairments and contract terminations over a two-year period. We expect to achieve benefits in the form of both increased customer engagement and operating efficiencies. Costs related to the Adenza restructuring and the divisional alignment programs are recorded as “restructuring charges” in our consolidated statements of income. We exclude charges associated with these programs for purposes of calculating non-GAAP measures as they are not reflective of ongoing operating performance or comparisons in Nasdaq’s performance between periods.

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

    Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to (i) projections relating to our future financial results, total shareholder returns, growth, dividend program, trading volumes, products and services, ability to transition to new business models or implement our new corporate structure, taxes and achievement of synergy targets, (ii) statements about the closing or implementation dates and benefits of certain acquisitions, divestitures and other strategic, restructuring, technology, environmental, deleveraging and capital allocation initiatives, (iii) statements about our integrations of our recent acquisitions, (iv) statements relating to any litigation or regulatory or government investigation or action to which we are or could become a party, and (v) other statements that are not historical facts. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to, Nasdaq’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, geopolitical instability, government and industry regulation, interest rate risk, U.S. and global competition. Further information on these and other factors are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q, which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

    WEBSITE DISCLOSURE

    Nasdaq intends to use its website, ir.nasdaq.com, as a means for disclosing material non-public information and for complying with SEC Regulation FD and other disclosure obligations.

    Media Relations Contact   Investor Relations Contact  
    Nick Jannuzzi   Ato Garrett
    973.760.1741   212.401.8737
    nicholas.jannuzzi.@nasdaq.com   ato.garrett@nasdaq.com

    NDAQF

     
    Nasdaq, Inc.
    Condensed Consolidated Statements of Income
    (in millions, except per share amounts)
    (unaudited)
               
      Three Months Ended   Nine Months Ended
      September 30,   September 30,   September 30,   September 30,
        2024       2023       2024       2023  
                     
    Revenues:              
    Capital Access Platforms $ 501     $ 456     $ 1,460     $ 1,309  
    Financial Technology   371       238       1,183       700  
    Market Services   1,022       747       2,700       2,378  
    Other Revenues   8       10       27       30  
      Total revenues   1,902       1,451       5,370       4,417  
    Transaction-based expenses:              
    Transaction rebates   (513 )     (447 )     (1,478 )     (1,377 )
    Brokerage, clearance and exchange fees   (243 )     (64 )     (470 )     (262 )
    Revenues less transaction-based expenses   1,146       940       3,422       2,778  
                   
    Operating Expenses:              
    Compensation and benefits   332       260       1,000       777  
    Professional and contract services   36       31       108       92  
    Technology and communication infrastructure   71       58       207       168  
    Occupancy   28       28       85       99  
    General, administrative and other   26       26       84       62  
    Marketing and advertising   11       12       34       30  
    Depreciation and amortization   153       64       460       198  
    Regulatory   9       9       37       27  
    Merger and strategic initiatives   10       4       23       51  
    Restructuring charges   22       17       103       49  
      Total operating expenses   698       509       2,141       1,553  
    Operating income   448       431       1,281       1,225  
    Interest income   8       72       20       86  
    Interest expense   (102 )     (101 )     (313 )     (174 )
    Other income (loss)   1       1       15       (6 )
    Net income (loss) from unconsolidated investees   1       (12 )     7       (8 )
    Income before income taxes   356       391       1,010       1,123  
    Income tax provision   51       97       250       262  
    Net income   305       294       760       861  
    Net loss attributable to noncontrolling interests   1       —       2       1  
    Net income attributable to Nasdaq $ 306     $ 294     $ 762     $ 862  
                   
    Per share information:              
    Basic earnings per share $ 0.53     $ 0.60     $ 1.32     $ 1.76  
    Diluted earnings per share $ 0.53     $ 0.60     $ 1.32     $ 1.74  
    Cash dividends declared per common share $ 0.24     $ 0.22     $ 0.70     $ 0.64  
                   
    Weighted-average common shares outstanding              
    for earnings per share:              
    Basic   575.1       491.3       575.6       490.7  
    Diluted   579.0       494.1       579.0       494.2  
                     
    Nasdaq, Inc.
    Revenue Detail
    (in millions)
    (unaudited)
                     
            Three Months Ended   Nine Months Ended
            September 30,   September 30,   September 30,   September 30,
              2024       2023       2024       2023  
                         
    CAPITAL ACCESS PLATFORMS              
      Data and Listing Services revenues $ 190     $ 188     $ 562     $ 559  
      Index revenues   182       144       517       383  
      Workflow and Insights revenues   129       124       381       367  
        Total Capital Access Platforms revenues   501       456       1,460       1,309  
                         
    FINANCIAL TECHNOLOGY              
      Financial Crime Management Technology revenues   69       58       200       163  
      Regulatory Technology revenues   68       35       253       102  
      Capital Markets Technology revenues   234       145       730       435  
        Total Financial Technology revenues   371       238       1,183       700  
                         
    MARKET SERVICES              
      Market Services revenues   1,022       747       2,700       2,378  
      Transaction-based expenses:              
          Transaction rebates   (513 )     (447 )     (1,478 )     (1,377 )
          Brokerage, clearance and exchange fees   (243 )     (64 )     (470 )     (262 )
        Total Market Services revenues, net   266       236       752       739  
                         
    OTHER REVENUES   8       10       27       30  
                         
    REVENUES LESS TRANSACTION-BASED EXPENSES $ 1,146     $ 940     $ 3,422     $ 2,778  
                         
                         
    Nasdaq, Inc.
    Condensed Consolidated Balance Sheets
    (in millions)
               
          September 30,   December 31,
            2024       2023  
    Assets   (unaudited)    
    Current assets:        
      Cash and cash equivalents   $ 266     $ 453  
      Restricted cash and cash equivalents     42       20  
      Default funds and margin deposits     5,865       7,275  
      Financial investments     202       188  
      Receivables, net     944       929  
      Other current assets     239       231  
    Total current assets     7,558       9,096  
    Property and equipment, net     584       576  
    Goodwill     14,165       14,112  
    Intangible assets, net     7,072       7,443  
    Operating lease assets     388       402  
    Other non-current assets     793       665  
    Total assets   $ 30,560     $ 32,294  
               
    Liabilities        
    Current liabilities:        
      Accounts payable and accrued expenses   $ 289     $ 332  
      Section 31 fees payable to SEC     74       84  
      Accrued personnel costs     314       303  
      Deferred revenue     663       594  
      Other current liabilities     229       146  
      Default funds and margin deposits     5,865       7,275  
      Short-term debt     499       291  
    Total current liabilities     7,933       9,025  
    Long-term debt     9,359       10,163  
    Deferred tax liabilities, net     1,566       1,642  
    Operating lease liabilities     399       417  
    Other non-current liabilities     222       220  
    Total liabilities     19,479       21,467  
             
    Commitments and contingencies        
    Equity        
    Nasdaq stockholders’ equity:        
      Common stock     6       6  
      Additional paid-in capital     5,477       5,496  
      Common stock in treasury, at cost     (643 )     (587 )
      Accumulated other comprehensive loss     (1,952 )     (1,924 )
      Retained earnings     8,184       7,825  
    Total Nasdaq stockholders’ equity     11,072       10,816  
      Noncontrolling interests     9       11  
    Total equity     11,081       10,827  
    Total liabilities and equity   $ 30,560     $ 32,294  
               
               
    Nasdaq, Inc.
    Reconciliation of U.S. GAAP to Non-GAAP Net Income Attributable to Nasdaq and Diluted Earnings Per Share
    (in millions, except per share amounts)
    (unaudited)
                       
                   
           Three Months Ended   Nine Months Ended
          September 30,   September 30,   September 30,   September 30,
            2024       2023       2024       2023  
                       
    U.S. GAAP net income attributable to Nasdaq   $ 306     $ 294     $ 762     $ 862  
    Non-GAAP adjustments:                
      Adenza purchase accounting adjustment (1)     34       —       34       —  
      Amortization expense of acquired intangible assets (2)     122       37       366       112  
      Merger and strategic initiatives expense (3)     10       4       23       51  
      Restructuring charges (4)     22       17       103       49  
      Lease asset impairments (5)     —       —       —       24  
      Net (income) loss from unconsolidated investees (6)     (1 )     12       (7 )     8  
      Legal and regulatory matters (7)     —       —       16       (10 )
      Pension settlement charge (8)     —       —       23       —  
      Other (income) loss (9)     1       9       (8 )     17  
      Total non-GAAP adjustments     188       79       550       251  
      Non-GAAP adjustment to the income tax provision (10)     (65 )     (24 )     (151 )     (76 )
      Tax on intra-group transfer of intellectual property assets (11)     —       —       33       —  
      Total non-GAAP adjustments, net of tax     123       55       432       175  
    Non-GAAP net income attributable to Nasdaq   $ 429     $ 349     $ 1,194     $ 1,037  
                       
    U.S. GAAP diluted earnings per share   $ 0.53     $ 0.60     $ 1.32     $ 1.74  
      Total adjustments from non-GAAP net income above     0.21       0.11       0.74       0.36  
    Non-GAAP diluted earnings per share   $ 0.74     $ 0.71     $ 2.06     $ 2.10  
                       
    Weighted-average diluted common shares outstanding for earnings per share:     579.0       494.1       579.0       494.2  
                       
                       
    (1) During the third quarter of 2024, as part of finalizing the purchase accounting of the Adenza acquisition, we implemented a change to the accounting treatment of the revenues associated with AxiomSL on-premises subscription contracts, which are included in the Regulatory Technology business within the Financial Technology segment. Starting in the third quarter of 2024, we began recognizing AxiomSL’s subscription-based revenues on a ratable basis over the contract term. As a result of this change, we recognized a one-time revenue reduction of $32 million in the third quarter of 2024, reflecting the net impact of the accounting change since the date of the Adenza acquisition. The adjustment of $34 million reflects the prior year impact of this change.
           
    (2) We amortize intangible assets acquired in connection with various acquisitions. Intangible asset amortization expense can vary from period to period due to episodic acquisitions completed, rather than from our ongoing business operations.
           
    (3) We have pursued various strategic initiatives and completed acquisitions and divestitures in recent years which have resulted in expenses which would not have otherwise been incurred. These expenses generally include integration costs, as well as legal, due diligence and other third party transaction costs. The frequency and amount of such expenses vary significantly based on the size, timing and complexity of the transaction. For the three and nine months ended September 30, 2024 and September 30, 2023, these costs primarily relate to the Adenza acquisition. For the nine months ended September 30, 2024, these costs were partially offset by a termination payment recognized in the second quarter of 2024 relating to the proposed divestiture of our Nordic power trading and clearing business.
                       
    (4) In the fourth quarter of 2023, following the closing of the Adenza acquisition, our management approved, committed to and initiated a restructuring program, “Adenza Restructuring” to optimize our efficiencies as a combined organization. In connection with this program, we expect to incur pre-tax charges principally related to employee-related costs, contract terminations, real estate impairments and other related costs. We expect to achieve benefits primarily in the form of expense and revenue synergies. In October 2022, following our September 2022 announcement to realign our segments and leadership, we initiated a divisional alignment program with a focus on realizing the full potential of this structure. In September 2024, we completed our divisional alignment program and recognized total pre-tax charges of $139 million over a two-year period.
                       
    (5) During the first quarter of 2023, we initiated a review of our real estate and facility capacity requirements due to our new and evolving work models. As a result, for the nine months ended September 30, 2023, we recorded impairment charges related to our operating lease assets and leasehold improvements associated with vacating certain leased office space, which are recorded in occupancy expense and depreciation and amortization expense in our Condensed Consolidated Statements of Income.
                       
    (6) We exclude our share of the earnings and losses of our equity method investments. This provides a more meaningful analysis of Nasdaq’s ongoing operating performance or comparisons in Nasdaq’s performance between periods.
                       
    (7) For the nine months ended September 30, 2024, these items primarily included the settlement of a Swedish Financial Supervisory Authority, or SFSA, fine and accruals related to certain legal matters. For the nine months ended September 30, 2023, these items primarily included insurance recoveries related to legal matters. The fine is recorded in regulatory expense and the accruals and insurance recoveries are recorded in professional and contract services and general, administrative and other expense in the Condensed Consolidated Statements of Income.
                       
    (8) For the nine months ended September 30, 2024, we recorded a pre-tax loss as a result of settling our U.S. pension plan. The plan was terminated and partially settled in 2023, with final settlement occurring during the first quarter of 2024. The pre-tax loss is recorded in compensation and benefits in the Condensed Consolidated Statements of Income.
                       
    (9) For the nine months ended September 30, 2024, and for the three and nine months ended September 30, 2023, other items primarily include net gains from strategic investments entered into through our corporate venture program, which are included in other income (loss) in our Condensed Consolidated Statements of Income.
                       
    (10) The non-GAAP adjustment to the income tax provision primarily includes the tax impact of each non-GAAP adjustment.
                       
    (11) For the nine months ended September 30, 2024, the completion of an intra-group transfer of intellectual property assets to U.S. headquarters resulted in a net tax expense of $33 million.
                       
    Nasdaq, Inc.
    Reconciliation of U.S. GAAP to Non-GAAP Revenues Less Transaction-Based Expenses
    (in millions)
    (unaudited)
                   
      Three Months Ended   Nine Months Ended
      September 30, 2024   September 30, 2024
      U.S. GAAP Revenues Less Transaction-Based Expenses Adenza purchase accounting adjustment (1) Non-GAAP Revenues Less Transaction-Based Expenses   U.S. GAAP Revenues Less Transaction-Based Expenses Adenza purchase accounting adjustment (1) Non-GAAP Revenues Less Transaction-Based Expenses
    CAPITAL ACCESS PLATFORMS $ 501 $ — $ 501   $ 1,460 $ — 1,460
                   
    FINANCIAL TECHNOLOGY              
    Financial Crime Management Technology revenues   69   —   69     200   — 200
    Regulatory Technology revenues (1)   68   34   102     253   34 287
    Capital Markets Technology revenues   234   —   234     730   — 730
    Total Financial Technology revenues   371   34   405     1,183   34 1,217
    SOLUTIONS REVENUES   872   34   906     2,643   34 2,677
                   
    MARKET SERVICES REVENUES, NET   266   —   266     752   — 752
    OTHER REVENUES   8   —   8     27   — 27
    REVENUES LESS TRANSACTION-BASED EXPENSES $ 1,146 $ 34 $ 1,180   $ 3,422 $ 34 3,456
                   
    (1) During the third quarter of 2024, as part of finalizing the purchase accounting of the Adenza acquisition, we implemented a change to the accounting treatment of the revenues associated with AxiomSL on-premises subscription contracts, which are included in the Regulatory Technology business within the Financial Technology segment. Starting in the third quarter of 2024, we began recognizing AxiomSL’s subscription-based revenues on a ratable basis over the contract term. As a result of this change, we recognized a one-time revenue reduction of $32 million in the third quarter of 2024, reflecting the net impact of the accounting change since the date of the Adenza acquisition. The adjustment of $34 million reflects the prior year impact of this change.
                   
    Nasdaq, Inc.
    Reconciliation of U.S. GAAP to Non-GAAP Operating Income and Operating Margin
    (in millions)
    (unaudited)
                   
           Three Months Ended   Nine Months Ended
          September 30,   September 30,   September 30,   September 30,
            2024       2023       2024       2023  
                       
    U.S. GAAP operating income   $ 448     $ 431     $ 1,281     $ 1,225  
    Non-GAAP adjustments:                
      Adenza purchase accounting adjustment (1)     34       —       34       —  
      Amortization expense of acquired intangible assets (2)     122       37       366       112  
      Merger and strategic initiatives expense (3)     10       4       23       51  
      Restructuring charges (4)     22       17       103       49  
      Lease asset impairments (5)     —       —       —       24  
      Legal and regulatory matters (6)     —       —       16       (10 )
      Pension settlement charge (7)     —       —       23       —  
      Other loss     1       2       4       2  
      Total non-GAAP adjustments     189       60       569       228  
    Non-GAAP operating income   $ 637     $ 491     $ 1,850     $ 1,453  
                     
    Revenues less transaction-based expenses   $ 1,146     $ 940     $ 3,422     $ 2,778  
                       
    U.S. GAAP operating margin (8)     39 %     46 %     37 %     44 %
                       
    Non-GAAP operating margin (9)     54 %     52 %     54 %     52 %
                       
                       
    (1) During the third quarter of 2024, as part of finalizing the purchase accounting of the Adenza acquisition, we implemented a change to the accounting treatment of the revenues associated with AxiomSL on-premises subscription contracts, which are included in the Regulatory Technology business within the Financial Technology segment. Starting in the third quarter of 2024, we began recognizing AxiomSL’s subscription-based revenues on a ratable basis over the contract term. As a result of this change, we recognized a one-time revenue reduction of $32 million in the third quarter of 2024, reflecting the net impact of the accounting change since the date of the Adenza acquisition. The adjustment of $34 million reflects the prior year impact of this change.
           
    (2) We amortize intangible assets acquired in connection with various acquisitions. Intangible asset amortization expense can vary from period to period due to episodic acquisitions completed, rather than from our ongoing business operations.
                       
    (3) We have pursued various strategic initiatives and completed acquisitions and divestitures in recent years which have resulted in expenses which would not have otherwise been incurred. These expenses generally include integration costs, as well as legal, due diligence and other third party transaction costs. The frequency and amount of such expenses vary significantly based on the size, timing and complexity of the transaction. For the three and nine months ended September 30, 2024 and September 30, 2023, these costs primarily relate to the Adenza acquisition. For the nine months ended September 30, 2024, these costs were partially offset by a termination payment recognized in the second quarter of 2024 relating to the proposed divestiture of our Nordic power trading and clearing business.
                       
    (4) In the fourth quarter of 2023, following the closing of the Adenza acquisition, our management approved, committed to and initiated a restructuring program, “Adenza Restructuring” to optimize our efficiencies as a combined organization. In connection with this program, we expect to incur pre-tax charges principally related to employee-related costs, contract terminations, real estate impairments and other related costs. We expect to achieve benefits primarily in the form of expense and revenue synergies. In October 2022, following our September announcement to realign our segments and leadership, we initiated a divisional alignment program with a focus on realizing the full potential of this structure. In September 2024, we completed our divisional alignment program and recognized total pre-tax charges of $139 million over a two-year period.
                       
    (5) During the first quarter of 2023, we initiated a review of our real estate and facility capacity requirements due to our new and evolving work models. As a result, for the nine months ended September 30, 2023, we recorded impairment charges related to our operating lease assets and leasehold improvements associated with vacating certain leased office space, which are recorded in occupancy expense and depreciation and amortization expense in our Condensed Consolidated Statements of Income.
                       
    (6) For the nine months ended September 30, 2024, these items primarily included the settlement of a SFSA fine and accruals related to certain legal matters. For the nine months ended September 30, 2023, these items primarily included insurance recoveries related to legal matters. The fine is recorded in regulatory expense and the accruals and insurance recoveries are recorded in professional and contract services and general, administrative and other expense in the Condensed Consolidated Statements of Income.
                       
    (7) For the nine months ended September 30, 2024, we recorded a pre-tax loss as a result of settling our U.S. pension plan. The plan was terminated and partially settled in 2023, with final settlement occurring during the first quarter of 2024. The pre-tax loss is recorded in compensation and benefits in the Condensed Consolidated Statements of Income.
                       
    (8) U.S. GAAP operating margin equals U.S. GAAP operating income divided by revenues less transaction-based expenses.
                       
    (9) Non-GAAP operating margin equals non-GAAP operating income divided by non-GAAP revenues less transaction-based expenses.
                       
    Nasdaq, Inc.
    Reconciliation of U.S. GAAP to Non-GAAP Operating Expenses
    (in millions)
    (unaudited)
                   
           Three Months Ended   Nine Months Ended
          September 30,   September 30,   September 30,   September 30,
            2024       2023       2024       2023  
                       
    U.S. GAAP operating expenses   $ 698     $ 509     $ 2,141     $ 1,553  
    Non-GAAP adjustments:                
      Amortization expense of acquired intangible assets (1)     (122 )     (37 )     (366 )     (112 )
      Merger and strategic initiatives expense (2)     (10 )     (4 )     (23 )     (51 )
      Restructuring charges (3)     (22 )     (17 )     (103 )     (49 )
      Lease asset impairments (4)     —       —       —       (24 )
      Legal and regulatory matters (5)     —       —       (16 )     10  
      Pension settlement charge (6)     —       —       (23 )     —  
      Other (loss)     (1 )     (2 )     (4 )     (2 )
      Total non-GAAP adjustments     (155 )     (60 )     (535 )     (228 )
    Non-GAAP operating expenses   $ 543     $ 449     $ 1,606     $ 1,325  
                       
                       
    (1) We amortize intangible assets acquired in connection with various acquisitions. Intangible asset amortization expense can vary from period to period due to episodic acquisitions completed, rather than from our ongoing business operations.
           
    (2) We have pursued various strategic initiatives and completed acquisitions and divestitures in recent years which have resulted in expenses which would not have otherwise been incurred. These expenses generally include integration costs, as well as legal, due diligence and other third party transaction costs. The frequency and amount of such expenses vary significantly based on the size, timing and complexity of the transaction. For the three and nine months ended September 30, 2024 and September 30, 2023, these costs primarily relate to the Adenza acquisition. For the nine months ended September 30, 2024, these costs were partially offset by a termination payment recognized in the second quarter of 2024 relating to the proposed divestiture of our Nordic power trading and clearing business.
                       
    (3) In the fourth quarter of 2023, following the closing of the Adenza acquisition, our management approved, committed to and initiated a restructuring program, “Adenza Restructuring” to optimize our efficiencies as a combined organization. In connection with this program, we expect to incur pre-tax charges principally related to employee-related costs, contract terminations, real estate impairments and other related costs. We expect to achieve benefits primarily in the form of expense and revenue synergies. In October 2022, following our September announcement to realign our segments and leadership, we initiated a divisional alignment program with a focus on realizing the full potential of this structure. In September 2024, we completed our divisional alignment program and recognized total pre-tax charges of $139 million over a two-year period.
                       
    (4) During the first quarter of 2023, we initiated a review of our real estate and facility capacity requirements due to our new and evolving work models. As a result, for the nine months ended September 30, 2023, we recorded impairment charges related to our operating lease assets and leasehold improvements associated with vacating certain leased office space, which are recorded in occupancy expense and depreciation and amortization expense in our Condensed Consolidated Statements of Income.
                       
    (5) For the nine months ended September 30, 2024, these items primarily included the settlement of a SFSA fine and accruals related to certain legal matters. For the nine months ended September 30, 2023, these items primarily included insurance recoveries related to legal matters. The fine is recorded in regulatory expense and the accruals and insurance recoveries are recorded in professional and contract services and general, administrative and other expense in the Condensed Consolidated Statements of Income.
                       
    (6) For the nine months ended September 30, 2024, we recorded a pre-tax loss as a result of settling our U.S. pension plan. The plan was terminated and partially settled in 2023, with final settlement occurring during the first quarter of 2024. The pre-tax loss is recorded in compensation and benefits in the Condensed Consolidated Statements of Income.
                       
    Nasdaq, Inc.
    Reconciliation of Pro Forma Impacts for U.S. Non-GAAP Revenues less transaction-based expenses, Non-GAAP Operating Expenses,
    Non-GAAP Operating Income, and Non-GAAP Operating Margin
    (in millions)
    (unaudited)
     
      Three Months Ended   Three Months Ended                  
      September 30, 2024   September 30, 2023   Total Variance   FX (3)   Pro Forma Impacts
      Non-GAAP Adenza Adjustment (1)   Pro Forma   Non-GAAP   Adenza (2)   Pro Forma   $   %   $   $ %
    Capital Access Platforms revenues $ 501   $ —     $ 501     $ 456     $ —   $ 456     $ 45     10 %   $ 1   $ 44   9 %
                                           
    Financial Crime Management Technology revenues   69     —       69       58       —     58       11     20 %     —     11   20 %
    Regulatory Technology revenues   102     (2 )     100       35       56     91       9     10 %     1     8   8 %
    Capital Markets Technology revenues   234     —       234       145       71     216       18     8 %     —     18   8 %
    Financial Technology revenues   405     (2 )     403       238       127     365       38     10 %     1     37   10 %
    Solutions revenues (4)   906     (2 )     904       694       127     821       83     10 %     2     81   10 %
                                           
    Market Services, net revenues   266     —       266       236       —     236       30     13 %     —     30   13 %
    Other revenues   8     —       8       10       —     10       (2 )   (13 )%     —     (2 ) (14 )%
    Revenues less transaction-based expenses   1,180     (2 )     1,178       940       127     1,067       111     10 %     2     109   10 %
                                           
    Non-GAAP operating expenses   543     —       543       449       65     514       29     6 %     1     28   5 %
    Non-GAAP operating income $ 637   $ (2 )   $ 635     $ 491     $ 62   $ 553     $ 82     15 %   $ 1   $ 81   14 %
    Non-GAAP operating margin   54 %       54 %     52 %         52 %                  
                                           
    Note: Pro forma results are presented assuming AxiomSL and Calypso were included in the prior year quarterly results and revenue for AxiomSL on-premises contracts were recognized ratably for all of 2023 and 2024. Pro forma growth excludes the impacts of foreign currency except for AxiomSL and Calypso, which are not yet calculated on an organic basis. These pro forma results are not calculated, and do not intend to be calculated, in a manner consistent with the pro forma requirements in Article 11 of Regulation S-X. Preparation of this information in accordance with Article 11 would differ from results presented in this release. The current period percentages are calculated based on exact dollars, and therefore may not recalculate exactly using rounded numbers as presented in US$ millions.
                                           
    (1) Adjustment to remove the cumulative impact of changing to ratable revenue recognition for AxiomSL on-premises subscription contracts, which related to the first six months of 2024.
     
    (2) The Adenza results above are presented on a non-GAAP basis and have been adjusted for certain items. We believe presenting these measures excluding these items provides investors with greater transparency as they do not represent ongoing operations. These adjustments include intangible amortization of $39 million and other transaction and restructuring related costs of $3 million for the third quarter of 2023.
     
    (3) Reflects the impacts from changes in FX rates.
     
    (4) Represents Capital Access Platforms and Financial Technology Segments.
                                           
    Nasdaq, Inc.
    Reconciliation of Organic Impacts for U.S. Non-GAAP Revenues less transaction-based expenses, Non-GAAP Operating Expenses,
    Non-GAAP Operating Income, and Non-GAAP Diluted Earnings Per Share
    (in millions)
    (unaudited)
                                   
      Three Months Ended                        
      September 30,   September 30,   Total Variance   Organic Impact   Other Impacts (1)
      2024   2023   $   %   $   %   $   %
    CAPITAL ACCESS PLATFORMS                              
    Data and Listing Services revenues $ 190   $ 188   $ 2     1 %   $ 1     1 %   $ 1     — %
    Index revenues   182     144     38     26 %     38     26 %     —     — %
    Workflow and Insights revenues   129     124     5     4 %     5     3 %     —     — %
    Total Capital Access Platforms revenues   501     456     45     10 %     44     9 %     1     — %
                                   
    FINANCIAL TECHNOLOGY                              
    Financial Crime Management Technology revenues   69     58     11     20 %     11     20 %     —     — %
    Regulatory Technology revenues   102     35     67     190 %     2     6 %     65     185 %
    Capital Markets Technology revenues   234     145     89     62 %     7     5 %     82     57 %
    Total Financial Technology revenues   405     238     167     71 %     20     9 %     147     62 %
                                   
    SOLUTIONS REVENUES (2)   906     694     212     31 %     64     9 %     148     21 %
                                   
    MARKET SERVICES REVENUES, NET   266     236     30     13 %     30     13 %     —     — %
                                   
    OTHER REVENUES   8     10     (2 )   (13 )%     (2 )   (14 )%     —     1 %
                                   
    REVENUES LESS TRANSACTION-BASED EXPENSES $ 1,180   $ 940   $ 240     26 %   $ 92     10 %   $ 148     16 %
                                   
    Non-GAAP Operating Expenses $ 543   $ 449   $ 94     21 %   $ 32     7 %   $ 62     14 %
                                   
    Non-GAAP Operating Income $ 637   $ 491   $ 146     30 %   $ 60     12 %   $ 86     18 %
                                   
    Non-GAAP diluted earnings per share $ 0.74   $ 0.71   $ 0.03     5 %   $ 0.14     20 %   $ (0.11 )   (16 )%
                                   
    Note: The period over period percentages are calculated based on exact dollars, and therefore may not agree to a recalculation based on rounded numbers shown in the tables above. The sum of the percentage changes may not tie to the percentage change in total variance due to rounding.
                                   
    (1) Primarily includes the impacts of the Adenza acquisition and changes in FX rates.
     
    (2) Represents Capital Access Platforms and Financial Technology Segments.
                                   
    Nasdaq, Inc.
    Quarterly Key Drivers Detail
    (unaudited)
                     
        Three Months Ended   Nine Months Ended
        September 30,   September 30,   September 30,   September 30,
          2024       2023       2024       2023  
    Capital Access Platforms              
      Annualized recurring revenues (in millions) (1) $ 1,254     $ 1,222     $ 1,254     $ 1,222  
      Initial public offerings              
      The Nasdaq Stock Market (2)   48       39       114       102  
      Exchanges that comprise Nasdaq Nordic and Nasdaq Baltic   1       —       7       3  
      Total new listings              
      The Nasdaq Stock Market (2)   138       87       301       230  
      Exchanges that comprise Nasdaq Nordic and Nasdaq Baltic (3)   6       3       18       16  
      Number of listed companies              
      The Nasdaq Stock Market (4)   4,039       4,086       4,039       4,086  
      Exchanges that comprise Nasdaq Nordic and Nasdaq Baltic (5)   1,186       1,236       1,186       1,236  
      Index              
      Number of licensed exchange traded products (6)   388       366       388       366  
      Period end ETP assets under management (AUM) tracking Nasdaq indexes (in billions) $ 600     $ 411     $ 600     $ 411  
      Quarterly average ETP AUM tracking Nasdaq indexes (in billions) $ 575     $ 423          
      TTM (7) net inflows ETP AUM tracking Nasdaq indexes (in billions) $ 62     $ 24     $ 62     $ 24  
      TTM (7) net appreciation ETP AUM tracking Nasdaq indexes (in billions) $ 143     $ 78     $ 143     $ 78  
                     
    Financial Technology              
      Annualized recurring revenues (in millions) (1)              
      Financial Crime Management Technology $ 268     $ 216     $ 268     $ 216  
      Regulatory Technology   350       132       350       132  
      Capital Markets Technology   864       511       864       511  
      Total Financial Technology $ 1,482     $ 859     $ 1,482     $ 859  
                     
    Market Services              
      Equity Derivative Trading and Clearing              
      U.S. equity options              
      Total industry average daily volume (in millions)   44.5       39.6       43.3       40.4  
      Nasdaq PHLX matched market share   9.4 %     11.0 %     9.9 %     11.2 %
      The Nasdaq Options Market matched market share   5.8 %     5.6 %     5.5 %     6.4 %
      Nasdaq BX Options matched market share   2.3 %     4.4 %     2.3 %     3.6 %
      Nasdaq ISE Options matched market share   6.8 %     5.7 %     6.7 %     5.8 %
      Nasdaq GEMX Options matched market share   2.7 %     3.0 %     2.6 %     2.3 %
      Nasdaq MRX Options matched market share   3.2 %     2.0 %     2.6 %     1.7 %
      Total matched market share executed on Nasdaq’s exchanges   30.2 %     31.7 %     29.6 %     31.0 %
      Nasdaq Nordic and Nasdaq Baltic options and futures              
      Total average daily volume of options and futures contracts (8)   213,911       245,986       235,137       298,785  
                     
      Cash Equity Trading              
      Total U.S.-listed securities              
      Total industry average daily share volume (in billions)   11.5       10.4       11.7       11.0  
      Matched share volume (in billions)   117.4       106.7       354.3       342.2  
      The Nasdaq Stock Market matched market share   15.6 %     15.5 %     15.6 %     15.9 %
      Nasdaq BX matched market share   0.3 %     0.4 %     0.4 %     0.4 %
      Nasdaq PSX matched market share   0.2 %     0.3 %     0.2 %     0.4 %
      Total matched market share executed on Nasdaq’s exchanges   16.1 %     16.2 %     16.2 %     16.7 %
      Market share reported to the FINRA/Nasdaq Trade Reporting Facility   44.7 %     40.2 %     43.0 %     35.2 %
      Total market share (9)   60.8 %     56.4 %     59.2 %     51.9 %
      Nasdaq Nordic and Nasdaq Baltic securities              
      Average daily number of equity trades executed on Nasdaq’s exchanges   609,167       556,257       645,622       676,132  
      Total average daily value of shares traded (in billions) $ 4.1     $ 3.6     $ 4.5     $ 4.5  
      Total market share executed on Nasdaq’s exchanges   71.6 %     71.6 %     72.2 %     70.6 %
                     
      Fixed Income and Commodities Trading and Clearing              
      Fixed Income              
      Total average daily volume of Nasdaq Nordic and Nasdaq Baltic fixed income contracts   89,037       88,383       94,493       96,461  
                     
      (1) Annualized Recurring Revenue (ARR) for a given period is the current annualized value derived from subscription contracts with a defined contract value. This excludes contracts that are not recurring, are one-time in nature, or where the contract value fluctuates based on defined metrics. ARR is currently one of our key performance metrics to assess the health and trajectory of our recurring business. ARR does not have any standardized definition and is therefore unlikely to be comparable to similarly titled measures presented by other companies. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. For AxiomSL and Calypso recurring revenue contracts, the amount included in ARR is consistent with the amount that we invoice the customer during the current period. Additionally, for AxiomSL and Calypso recurring revenue contracts that include annual values that increase over time, we include in ARR only the annualized value of components of the contract that are considered active as of the date of the ARR calculation. We do not include the future committed increases in the contract value as of the date of the ARR calculation. ARR is not a forecast and the active contracts at the end of a reporting period used in calculating ARR may or may not be extended or renewed by our customers.
       
      (2) New listings include IPOs, issuers that switched from other listing venues, closed-end funds and separately listed ETPs. For the three months ended September 30, 2024 and 2023, IPOs included 15 and 4 SPACs, respectively. For the nine months ended September 30, 2024 and 2023, IPOs included 28 and 19 SPACs, respectively.
       
      (3) New listings include IPOs and represent companies listed on the Nasdaq Nordic and Nasdaq Baltic exchanges and companies on the alternative markets of Nasdaq First North.
       
      (4) Number of total listings on The Nasdaq Stock Market for the nine months ended September 30, 2024 and September 30, 2023 included 712 and 570 ETPs, respectively.
       
      (5) Represents companies listed on the Nasdaq Nordic and Nasdaq Baltic exchanges and companies on the alternative markets of Nasdaq First North.
       
      (6) The number of listed ETPs as of September 30, 2023 has been updated to reflect a revised methodology whereby an ETP listed on multiple exchanges is counted as one product, rather than formerly being counted per exchange. This change has no impact on reported AUM.
       
      (7) Trailing 12-months.
       
      (8) Includes Finnish option contracts traded on Eurex for which Nasdaq and Eurex had a revenue sharing arrangement, which ended in the fourth quarter of 2023.
       
      (9) Includes transactions executed on The Nasdaq Stock Market’s, Nasdaq BX’s and Nasdaq PSX’s systems plus trades reported through the Financial Industry Regulatory Authority/Nasdaq Trade Reporting Facility.
                     

    The MIL Network –

  • MIL-OSI Asia-Pac: Pressure on judges condemned

    Source: Hong Kong Information Services

    The Government today strongly condemned recent attempts by some individuals overseas to exert improper pressure on Court of Final Appeal non-permanent judge Patrick Keane, blatantly interfering with ongoing criminal proceedings in the Hong Kong Special Administrative Region.

    The Government noted that any attempt by any organisation or individual to exert pressure on judges and judicial officers, and interfere with the criminal justice process by means of political power or any other means, is clearly a reprehensible act undermining the rule of law of the Hong Kong SAR and should be vehemently condemned.

    It highlighted that Hong Kong’s rule of law and independent judicial power are guaranteed under the Basic Law, which specifically provides that the judicial power, including that of final adjudication, vested with the Hong Kong SAR, is to be exercised by the Judiciary independently, free from any interference.

    The Government said it fully supports the Judiciary in exercising its judicial power independently, safeguarding the due administration of justice and the rule of law.

    Regarding Lai Chee-ying’s case concerning the National Security Law, the Government pointed out that as the relevant legal proceedings are still ongoing, it is inappropriate for any person to comment on the details of the case or exert improper interference.

    The Government emphasised that all cases are handled strictly on the basis of evidence and in accordance with the law. All defendants will receive a fair trial strictly in accordance with laws applicable to Hong Kong and as protected by the Basic Law and the Hong Kong Bill of Rights.

    MIL OSI Asia Pacific News –