Politics – Page 1600 – NewzIntel.com

MIL-OSI: Radware Reports Third Quarter 2024 Financial Results

Source: GlobeNewswire (MIL-OSI)

Third Quarter 2024 Financial Results and Highlights

Revenue of $69.5 million, an increase of 13% year–over–year
Cloud ARR of $71.6 million, an increase of 15% year-over-year
Non-GAAP diluted EPS of $0.23 vs. $0.07 in Q3 2023; GAAP diluted EPS of $0.07 vs. $(0.16) in Q3 2023
Cash flow from operations of $14.7 million and $58.9 million year-to-date

TEL AVIV, Israel, Oct. 31, 2024 (GLOBE NEWSWIRE) — Radware^® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, today announced its consolidated financial results for the third quarter ended September 30, 2024.

“We are pleased to report solid third-quarter results, highlighted by 13% year-over-year revenue growth and a significant improvement in profitability and cash flow from operations,” said Roy Zisapel, Radware’s President and CEO. “Our results reflect double-digit growth in subscription revenue, strong sales of software subscriptions, and the ongoing success of DefensePro X, which carries with it more subscription revenue. We are excited about the momentum we’ve built and our future growth prospects.”

Financial Highlights for the Third Quarter 2024
Revenue for the third quarter of 2024 totaled $69.5 million:

Revenue in the Americas region was $27.7 million for the third quarter of 2024, an increase of 11% from $24.9 million in the third quarter of 2023.
Revenue in the Europe, Middle East, and Africa (“EMEA”) region was $25.2 million for the third quarter of 2024, an increase of 30% from $19.3 million in the third quarter of 2023.
Revenue in the Asia-Pacific (“APAC”) region was $16.6 million for the third quarter of 2024, a decrease of 5% from $17.4 million in the third quarter of 2023.

GAAP net income for the third quarter of 2024 was $3.1 million, or $0.07 per diluted share, compared to GAAP net loss of $6.9 million, or $(0.16) per diluted share, for the third quarter of 2023.

Non-GAAP net income for the third quarter of 2024 was $10.2 million, or $0.23 per diluted share, compared to non-GAAP net income of $2.9 million, or $0.07 per diluted share, for the third quarter of 2023.

As of September 30, 2024, the Company had cash, cash equivalents, short-term and long-term bank deposits, and marketable securities of $411.7 million. Cash flow from operations was $14.7 million in the third quarter of 2024.

Non-GAAP results are calculated excluding, as applicable, the impact of stock-based compensation expenses, amortization of intangible assets, litigation costs, acquisition costs, restructuring costs, exchange rate differences, net on balance sheet items included in financial income, net, and tax-related adjustments. A reconciliation of each of the Company’s non-GAAP measures to the most directly comparable GAAP measure is included at the end of this press release.

Conference Call
Radware management will host a call today, October 31, 2024, at 8:30 a.m. EDT to discuss its third quarter 2024 results and fourth quarter 2024 outlook. To participate on the call, please use the following numbers:
U.S. participants call toll free: 888-510-2008
International participants call: 1 646-960-0306
Conference ID: 1864701

A replay will be available for two days, starting two hours after the end of the call, on telephone number +1-609-800-9099 or (US toll-free) 800-770-2030. Passcode 1864701.

The call will be webcast live on the Company’s website at: http://www.radware.com/IR/. The webcast will remain available for replay during the next 12 months.

Use of Non-GAAP Financial Information and Key Performance Indicators
In addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), Radware uses non-GAAP measures of gross profit, research and development expense, selling and marketing expense, general and administrative expense, total operating expenses, operating income, financial income, net, income before taxes on income, taxes on income, net income and diluted earnings per share, which are adjustments from results based on GAAP to exclude, as applicable, stock-based compensation expenses, amortization of intangible assets, litigation costs, acquisition costs, restructuring costs, exchange rate differences, net on balance sheet items included in financial income, net, and tax–related adjustments. Management believes that exclusion of these charges allows for meaningful comparisons of operating results across past, present, and future periods. Radware’s management believes the non-GAAP financial measures provided in this release are useful to investors for the purpose of understanding and assessing Radware’s ongoing operations. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is included with the financial information contained in this press release. Management uses both GAAP and non-GAAP financial measures in evaluating and operating the business and, as such, has determined that it is important to provide this information to investors.

Annual recurring revenue (“ARR”) is a key performance indicator defined as the annualized value of booked orders for term-based cloud services, subscription licenses, and maintenance contracts that are in effect at the end of a reporting period. 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. ARR is not a forecast of future revenue, which can be impacted by contract start and end dates and renewal rates and does not include revenue reported as perpetual license or professional services revenue in our consolidated statement of operations. We consider ARR a key performance indicator of the value of the recurring components of our business.

Safe Harbor Statement

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, and the tensions between China and Taiwan; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; a shortage of components or manufacturing capacity could cause a delay in our ability to fulfill orders or increase our manufacturing costs; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cyber security and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors, or by a critical system failure; outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns, such as the COVID-19 pandemic; our net losses in the past two years and possibility we may incur losses in the future; a slowdown in the growth of the cyber security and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.

About Radware
Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.

Radware encourages you to join our community and follow us on: Facebook, LinkedIn, Radware Blog, X, YouTube, and Radware Mobile for iOS.

©2024 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

CONTACTS
Investor Relations:
Yisca Erez, +972-72-3917211, ir@radware.com

Media Contact:
Gerri Dyrek, gerri.dyrek@radware.com

Radware Ltd.
Condensed Consolidated Balance Sheets
(U.S. Dollars in thousands)

	September 30,	December 31,
	2024	2023
	(Unaudited)	(Unaudited)
Assets

Current assets
Cash and cash equivalents	115,416	70,538
Marketable securities	94,809	86,372
Short-term bank deposits	111,998	173,678
Trade receivables, net	19,963	20,267
Other receivables and prepaid expenses	9,891	9,529
Inventories	13,543	15,544
	365,620	375,928

Long-term investments
Marketable securities	30,991	33,131
Long-term bank deposits	58,468	–
Other assets	2,104	2,166
	91,563	35,297


Property and equipment, net	16,499	18,221
Intangible assets, net	12,742	15,718
Other long-term assets	35,312	37,967
Operating lease right-of-use assets	18,433	20,777
Goodwill	68,008	68,008
Total assets	608,177	571,916

Liabilities and equity

Current liabilities
Trade payables	6,551	4,298
Deferred revenues	109,924	105,012
Operating lease liabilities	4,333	4,684
Other payables and accrued expenses	46,427	41,021
	167,235	155,015

Long-term liabilities
Deferred revenues	65,916	60,499
Operating lease liabilities	13,658	16,020
Other long-term liabilities	14,173	17,108
	93,747	93,627

Equity
Radware Ltd. equity
Share capital	749	742
Additional paid-in capital	548,240	529,209
Accumulated other comprehensive income	593	77
Treasury stock, at cost	(366,588)	(365,749)
Retained earnings	123,398	119,812
Total Radware Ltd. shareholder’s equity	306,392	284,091

Non–controlling interest	40,803	39,183

Total equity	347,195	323,274

Total liabilities and equity	608,177	571,916

Radware Ltd. Condensed Consolidated Statements of Income (Loss) (U.S Dollars in thousands, except share and per share data)

	For the three months ended		For the nine months ended
	September 30,		September 30,
	2024	2023	2024	2023
	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)

Revenues	69,488	61,612	201,849	196,260
Cost of revenues	13,392	12,838	39,260	38,886
Gross profit	56,096	48,774	162,589	157,374

Operating expenses, net:
Research and development, net	18,654	20,614	56,251	62,905
Selling and marketing	30,500	30,532	89,945	94,368
General and administrative	6,948	7,824	21,271	24,378
Total operating expenses, net	56,102	58,970	167,467	181,651

Operating loss	(6)	(10,196)	(4,878)	(24,277)
Financial income, net	4,957	3,778	12,982	10,688
Income (loss) before taxes on income	4,951	(6,418)	8,104	(13,589)
Taxes on income	1,807	433	4,518	2,151
Net income (loss)	3,144	(6,851)	3,586	(15,740)

Basic net income (loss) per share attributed to Radware Ltd.’s shareholders	0.07	(0.16)	0.09	(0.36)

Weighted average number of shares used to compute basic net income (loss) per share	41,956,001	42,261,637	41,854,984	43,232,405

Diluted net income (loss) per share attributed to Radware Ltd.’s shareholders	0.07	(0.16)	0.08	(0.36)

Weighted average number of shares used to compute diluted net income (loss) per share	43,573,161	42,261,637	43,199,279	43,232,405

	Radware Ltd. Reconciliation of GAAP to Non-GAAP Financial Information (U.S Dollars in thousands, except share and per share data)

		For the three months ended		For the nine months ended
		September 30,		September 30,
		2024	2023	2024	2023
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
GAAP gross profit		56,096	48,774	162,589	157,374
	Share-based compensation	81	177	240	403
	Amortization of intangible assets	992	992	2,976	2,976
Non-GAAP gross profit		57,169	49,943	165,805	160,753

GAAP research and development, net		18,654	20,614	56,251	62,905
	Share-based compensation	1,421	2,064	4,679	6,200
Non-GAAP Research and development, net		17,233	18,550	51,572	56,705

GAAP selling and marketing		30,500	30,532	89,945	94,368
	Share-based compensation	2,548	2,134	7,708	9,065
	Restructuring costs	–	1,273	–	1,273
Non-GAAP selling and marketing		27,952	27,125	82,237	84,030

GAAP general and administrative		6,948	7,824	21,271	24,378
	Share-based compensation	2,008	2,884	6,480	9,483
	Acquisition costs	159	211	571	769
Non-GAAP general and administrative		4,781	4,729	14,220	14,126

GAAP total operating expenses, net		56,102	58,970	167,467	181,651
	Share-based compensation	5,977	7,082	18,867	24,748
	Acquisition costs	159	211	571	769
	Restructuring costs	–	1,273	–	1,273
Non-GAAP total operating expenses, net		49,966	50,404	148,029	154,861

GAAP operating loss		(6)	(10,196)	(4,878)	(24,277)
	Share-based compensation	6,058	7,259	19,107	25,151
	Amortization of intangible assets	992	992	2,976	2,976
	Acquisition costs	159	211	571	769
	Restructuring costs	–	1,273	–	1,273
Non-GAAP operating income (loss)		7,203	(461)	17,776	5,892

GAAP financial income, net		4,957	3,778	12,982	10,688
	Exchange rate differences, net on balance sheet items included in financial income, net	(86)	37	(231)	(770)
Non-GAAP financial income, net		4,871	3,815	12,751	9,918

GAAP income (loss) before taxes on income		4,951	(6,418)	8,104	(13,589)
	Share-based compensation	6,058	7,259	19,107	25,151
	Amortization of intangible assets	992	992	2,976	2,976
	Acquisition costs	159	211	571	769
	Restructuring costs	–	1,273	–	1,273
	Exchange rate differences, net on balance sheet items included in financial income, net	(86)	37	(231)	(770)
Non-GAAP income before taxes on income		12,074	3,354	30,527	15,810

GAAP taxes on income		1,807	433	4,518	2,151
	Tax related adjustments	62	62	185	185
Non-GAAP taxes on income		1,869	495	4,703	2,336

GAAP net income (loss)		3,144	(6,851)	3,586	(15,740)
	Share-based compensation	6,058	7,259	19,107	25,151
	Amortization of intangible assets	992	992	2,976	2,976
	Acquisition costs	159	211	571	769
	Restructuring costs	–	1,273	–	1,273
	Exchange rate differences, net on balance sheet items included in financial income, net	(86)	37	(231)	(770)
	Tax related adjustments	(62)	(62)	(185)	(185)
Non-GAAP net income		10,205	2,859	25,824	13,474

GAAP diluted net income (loss) per share		0.07	(0.16)	0.08	(0.36)
	Share-based compensation	0.14	0.17	0.45	0.57
	Amortization of intangible assets	0.02	0.03	0.07	0.07
	Acquisition costs	0.00	0.00	0.01	0.02
	Restructuring costs	0.00	0.03	0.00	0.03
	Exchange rate differences, net on balance sheet items included in financial income, net	(0.00)	0.00	(0.01)	(0.02)
	Tax related adjustments	(0.00)	(0.00)	(0.00)	0.00
Non-GAAP diluted net earnings per share		0.23	0.07	0.60	0.31


Weighted average number of shares used to compute non-GAAP diluted net earnings per share		43,573,161	43,163,159	43,199,279	44,058,549

Radware Ltd. Condensed Consolidated Statements of Cash Flow (U.S. Dollars in thousands)

	For the three months ended		For the nine months ended
	September 30,		September 30,
	2024	2023	2024	2023
	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
Cash flow from operating activities:

Net income (loss)	3,144	(6,851)	3,586	(15,740)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	2,947	3,025	8,918	9,216
Share-based compensation	6,058	7,259	19,107	25,151
Amortization of premium, accretion of discounts and accrued interest on marketable securities, net	(234)	161	(227)	1,116
Loss related to securities, net	–	–	–	244
Increase (decrease) in accrued interest on bank deposits	(814)	(2,289)	4,645	(3,814)
Increase (decrease) in accrued severance pay, net	147	(401)	106	(506)
Decrease in trade receivables, net	5,536	4,448	304	5,380
Decrease (increase) in other receivables and prepaid expenses and other long-term assets	749	(215)	1,155	(2,541)
Decrease (increase) in inventories	253	(671)	2,001	(1,566)
Increase (decrease) in trade payables	2,474	(1,778)	2,253	(395)
Increase (decrease) in deferred revenues	(6,059)	(12,311)	10,329	(11,095)
Increase (decrease) in other payables and accrued expenses	259	644	7,052	(10,798)
Operating lease liabilities, net	248	(804)	(369)	(805)
Net cash provided by (used in) operating activities	14,708	(9,783)	58,860	(6,153)

Cash flows from investing activities:

Purchase of property and equipment	(1,412)	(1,130)	(4,220)	(4,493)
Proceeds from other long-term assets, net	46	29	40	77
Proceeds from (investment in) bank deposits, net	9,731	21,145	(1,433)	51,345
Investment in, redemption of and purchase of marketable securities, net	5,541	2,228	(4,456)	347
Net cash provided by (used in) investing activities	13,906	22,272	(10,069)	47,276

Cash flows from financing activities:

Proceeds from exercise of share options	–	–	3	308
Repurchase of shares	–	(20,648)	(839)	(53,131)
Payment of contingent consideration related to acquisition	–	(2,063)	(3,077)	(2,063)
Net cash used in financing activities	–	(22,711)	(3,913)	(54,886)

Increase (decrease) in cash and cash equivalents	28,614	(10,222)	44,878	(13,763)
Cash and cash equivalents at the beginning of the period	86,802	42,644	70,538	46,185
Cash and cash equivalents at the end of the period	115,416	32,422	115,416	32,422

	Radware Ltd. RECONCILIATION OF GAAP NET INCOME (LOSS) TO EBITDA AND ADJUSTED EBITDA (NON-GAAP) (U.S Dollars in thousands)

		For the three months ended		For the nine months ended
		September 30,		September 30,
		2024	2023	2024	2023
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
GAAP net income (loss)		3,144	(6,851)	3,586	(15,740)
	Exclude: Financial income, net	(4,957)	(3,778)	(12,982)	(10,688)
	Exclude: Depreciation and amortization expense	2,947	3,025	8,918	9,216
	Exclude: Taxes on income	1,807	433	4,518	2,151
EBITDA		2,941	(7,171)	4,040	(15,061)

	Share-based compensation	6,058	7,259	19,107	25,151
	Restructuring costs	–	1,273	–	1,273
	Acquisition costs	159	211	571	769
Adjusted EBITDA		9,158	1,572	23,718	12,132


		For the three months ended		For the nine months ended
		September 30,		September 30,
		2024	2023	2024	2023
	Amortization of intangible assets	992	992	2,976	2,976
	Depreciation	1,955	2,033	5,942	6,240
		2,947	3,025	8,918	9,216

The MIL Network –

January 25, 2025

MIL-OSI: WTW Reports Third Quarter 2024 Earnings

Source: GlobeNewswire (MIL-OSI)

Revenue¹ increased 6% to $2.3 billion for the quarter with organic growth of 6% for the quarter
Diluted Loss² per Share was $16.44 for the quarter
Adjusted Diluted Earnings per Share were $2.93 for the quarter, up 31% from prior year
Operating Margin² was (33.5)% for the quarter
Adjusted Operating Margin was 18.1% for the quarter, up 190 basis points from prior year

LONDON, Oct. 31, 2024 (GLOBE NEWSWIRE) — WTW (NASDAQ: WTW) (the “Company”), a leading global advisory, broking and solutions company, today announced financial results for the third quarter ended September 30, 2024.

“We had another strong quarter fueled by revenue growth, operating leverage and the success of our Transformation program. Our revenue growth of 6% for the quarter is evidence that our value proposition is continuing to resonate in the market and that our investments in talent and technology are succeeding. We are also making ongoing progress on our commitment to improve cash flow. Given our strong performance and momentum, we are entering the fourth quarter with confidence in our ability to deliver on our targets for the year and drive sustainable, profitable growth going forward.”

Consolidated Results

As reported, USD millions, except %

Key Metrics	Q3-24	Q3-23	Y/Y Change
Revenue¹	$2,289	$2,166	Reported 6% \| CC 6% \| Organic 6%
(Loss)/Income from Operations²	$(766)	$159	NM
Operating Margin² %	(33.5)%	7.3%	NM
Adjusted Operating Income	$414	$351	18%
Adjusted Operating Margin %	18.1%	16.2%	190 bps
Net (Loss)/Income²	$(1,672)	$139	NM
Adjusted Net Income	$299	$236	27%
Diluted EPS²	$(16.44)	$1.29	NM
Adjusted Diluted EPS	$2.93	$2.24	31%

¹	The revenue amounts included in this release are presented on a U.S. GAAP basis except where stated otherwise. This excludes reinsurance revenue which is reported in discontinued operations. The segment discussion is on an organic basis.
²	Loss from Operations, Operating Margin, Net Loss and Diluted EPS for the third quarter of 2024 include pre-tax non-cash losses and impairment charges of over $1.0 billion each related to the pending sale of TRANZACT.
^NM	Not meaningful.

Revenue was $2.29 billion for the third quarter of 2024, an increase of 6% as compared to $2.17 billion for the same period in the prior year. Excluding the impact of foreign currency, revenue increased 6%. On an organic basis, revenue increased 6%. See Supplemental Segment Information for additional detail on book-of-business settlements and interest income included in revenue.

Net Loss for the third quarter of 2024 was $1.67 billion compared to Net Income of $139 million in the prior-year third quarter. Loss from Operations, Operating Margin, Net Loss and Diluted EPS for the third quarter of 2024 include pre-tax non-cash losses and impairment charges of over $1.0 billion each related to the pending sale of TRANZACT. Adjusted EBITDA for the third quarter was $501 million, or 21.9% of revenue, an increase of 15%, compared to Adjusted EBITDA of $436 million, or 20.1% of revenue, in the prior-year third quarter. The U.S. GAAP tax rate for the third quarter was 16.1%, and the adjusted income tax rate for the third quarter used in calculating adjusted diluted earnings per share was 19.7%.

Cash Flow and Capital Allocation

Cash flows from operating activities were $913 million for the nine months ended September 30, 2024, compared to $823 million for the prior year. Free cash flow for the nine months ended September 30, 2024 and 2023 was $807 million and $707 million, respectively, an increase of $100 million, primarily driven by operating margin expansion, partially offset by cash outflows related to transformation and discretionary compensation payments. During the quarter ended September 30, 2024, the Company repurchased $205 million of WTW outstanding shares.

Third Quarter 2024 Segment Highlights

Health, Wealth & Career (“HWC”)

As reported, USD millions, except %

Health, Wealth & Career	Q3-24	Q3-23	Y/Y Change
Total Revenue	$1,328	$1,282	Reported 4% \| CC 3% \| Organic 4%
Operating Income	$329	$305	8%
Operating Margin %	24.7%	23.8%	90 bps

The HWC segment had revenue of $1.33 billion in the third quarter of 2024, an increase of 4% (3% increase constant currency and 4% organic) from $1.28 billion in the prior year. Health had organic revenue growth driven by strong client retention, new local appointments and the continued expansion of our Global Benefits Management client portfolio in International and Europe, along with increased brokerage income in North America. Wealth generated organic revenue growth from higher levels of Retirement work in Europe, an increase in our Investments business due to capital market improvements and growth from our LifeSight solution. Career had organic revenue growth from increased compensation survey sales and advisory services in Work & Rewards and product revenue in Employee Experience. Benefits Delivery & Outsourcing (BD&O) had an organic revenue decline for the quarter primarily as a result of deliberately moderating growth in Individual Marketplace and a stronger comparable in Outsourcing.

Operating margins in the HWC segment increased 90 basis points from the prior-year third quarter to 24.7%, primarily from Transformation savings. Please refer to the Supplemental Slides for TRANZACT’s standalone historical financial results.

Risk & Broking (“R&B”)

As reported, USD millions, except %

Risk & Broking	Q3-24	Q3-23	Y/Y Change
Total Revenue	$940	$855	Reported 10% \| CC 10% \| Organic 10%
Operating Income	$170	$134	27%
Operating Margin %	18.1%	15.7%	240 bps

The R&B segment had revenue of $940 million in the third quarter of 2024, an increase of 10% (10% increase constant currency and organic) from $855 million in the prior year. Corporate Risk & Broking (CRB) had organic revenue growth driven by higher levels of new business activity and strong client retention. Insurance Consulting and Technology (ICT) had organic revenue growth for the quarter primarily due to strong software sales in Technology, partially offset by tempered demand for discretionary services in Consulting.

Operating margins in the R&B segment increased 240 basis points from the prior-year third quarter to 18.1%, primarily due to operating leverage driven by organic revenue growth and disciplined expense management, as well as Transformation savings.

2024 Outlook

Based on current and anticipated market conditions, the Company’s full-year targets for 2024, consistent with those targets that have been previously provided, are as follows. Refer to the Supplemental Slides for additional detail.

Expect to deliver revenue of $9.9 billion or greater and mid-single digit organic revenue growth for the full year 2024
Expect to deliver adjusted operating margin of 23.0% – 23.5% for the full year 2024
Expect to deliver adjusted diluted earnings per share of $16.00 – $17.00 for the full year 2024
Expect approximately $88 million in non-cash pension income for the full year 2024
Expect a foreign currency headwind on adjusted earnings per share of approximately $0.06 for the full year 2024 at today’s rates, down from $0.10 previously
Expect to deliver approximately $450 million of cumulative run-rate savings from the Transformation program by the end of 2024 with total program costs of $1.175 billion.

Outlook includes Non-GAAP financial measures. We do not reconcile forward-looking Non-GAAP measures for reasons explained below.

In addition, WTW will host an Investor Day on Tuesday, December 3, 2024 beginning at approximately 9:00 a.m. Eastern Time. A live webcast presentation will be available at www.wtwco.com and a replay of the webcast will be available on the Company’s website following the event.

Conference Call

The Company will host a live webcast and conference call to discuss the financial results for the third quarter 2024. It will be held on Thursday, October 31, 2024, beginning at 9:00 a.m. Eastern Time. A live broadcast of the conference call will be available on WTW’s website here. The conference call will include a question-and-answer session. To participate in the question-and-answer session, please register here. An online replay will be available at www.wtwco.com shortly after the call concludes.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance. Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at www.wtwco.com.

WTW Non-GAAP Measures

In order to assist readers of our consolidated financial statements in understanding the core operating results that WTW’s management uses to evaluate the business and for financial planning, we present the following non-GAAP measures: (1) Constant Currency Change, (2) Organic Change, (3) Adjusted Operating Income/Margin, (4) Adjusted EBITDA/Margin, (5) Adjusted Net Income, (6) Adjusted Diluted Earnings Per Share, (7) Adjusted Income Before Taxes, (8) Adjusted Income Taxes/Tax Rate, (9) Free Cash Flow and (10) Free Cash Flow Margin.

We believe that those measures are relevant and provide pertinent information widely used by analysts, investors and other interested parties in our industry to provide a baseline for evaluating and comparing our operating performance, and in the case of free cash flow, our liquidity results.

Within the measures referred to as ‘adjusted’, we adjust for significant items which will not be settled in cash, or which we believe to be items that are not core to our current or future operations. Some of these items may not be applicable for the current quarter, however they may be part of our full-year results. Additionally, we have historically adjusted for certain items which are not described below, but for which we may adjust in a future period when applicable. Items applicable to the quarter or full year results, or the comparable periods, include the following:

Restructuring costs and transaction and transformation – Management believes it is appropriate to adjust for restructuring costs and transaction and transformation when they relate to a specific significant program with a defined set of activities and costs that are not expected to continue beyond a defined period of time, or significant acquisition-related transaction expenses. We believe the adjustment is necessary to present how the Company is performing, both now and in the future when the incurrence of these costs will have concluded.
Impairment – Adjustment to remove the non-cash goodwill impairment associated with our Benefits, Delivery and Administration reporting unit related to the pending divestiture of our TRANZACT business.
Provisions for specified litigation matters – We will include provisions for litigation matters which we believe are not representative of our core business operations. Among other things, we determine this by reference to the amount of the loss (net of insurance and other recovery receivables) and by reference to whether the matter relates to an unusual and complex scenario that is not expected to be repeated as part of our ongoing, ordinary business. These amounts are presented net of insurance and other recovery receivables. See the footnotes to the respective reconciliation tables below for more specificity on the litigation matter excluded from adjusted results.
Gains and losses on disposals of operations – Adjustment to remove the gains or losses resulting from disposed operations that have not been classified as discontinued operations.
Tax effect of significant adjustments – Relates to the incremental tax expense or benefit resulting from significant or unusual events including significant statutory tax rate changes enacted in material jurisdictions in which we operate, internal reorganizations of ownership of certain businesses that reduced the investment held by our U.S.-controlled subsidiaries and the recovery of certain refunds or payment of taxes related to businesses in which we no longer participate.

We evaluate our revenue on an as reported (U.S. GAAP), constant currency and organic basis. We believe presenting constant currency and organic information provides valuable supplemental information regarding our comparable results, consistent with how we evaluate our performance internally.

We consider Constant Currency Change, Organic Change, Adjusted Operating Income/Margin, Adjusted EBITDA/Margin, Adjusted Net Income, Adjusted Diluted Earnings Per Share, Adjusted Income Before Taxes, Adjusted Income Taxes/Tax Rate and Free Cash Flow to be important financial measures, which are used to internally evaluate and assess our core operations and to benchmark our operating and liquidity results against our competitors. These non-GAAP measures are important in illustrating what our comparable operating and liquidity results would have been had we not incurred transaction-related and non-recurring items. Reconciliations of these measures are included in the accompanying tables with the following exception: The Company does not reconcile its forward-looking non-GAAP financial measures to the corresponding U.S. GAAP measures, due to variability and difficulty in making accurate forecasts and projections and/or certain information not being ascertainable or accessible; and because not all of the information, such as foreign currency impacts necessary for a quantitative reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable U.S. GAAP financial measure, is available to the Company without unreasonable efforts. For the same reasons, the Company is unable to address the probable significance of the unavailable information. The Company provides non-GAAP financial measures that it believes will be achieved, however it cannot accurately predict all of the components of the adjusted calculations and the U.S. GAAP measures may be materially different than the non-GAAP measures.

Our non-GAAP measures and their accompanying definitions are presented as follows:

Constant Currency Change – Represents the year-over-year change in revenue excluding the impact of foreign currency fluctuations. To calculate this impact, the prior year local currency results are first translated using the current year monthly average exchange rates. The change is calculated by comparing the prior year revenue, translated at the current year monthly average exchange rates, to the current year as reported revenue, for the same period. We believe constant currency measures provide useful information to investors because they provide transparency to performance by excluding the effects that foreign currency exchange rate fluctuations have on period-over-period comparability given volatility in foreign currency exchange markets.

Organic Change – Excludes the impact of fluctuations in foreign currency exchange rates, as described above and the period-over-period impact of acquisitions and divestitures on current-year revenue. We believe that excluding transaction-related items from our U.S. GAAP financial measures provides useful supplemental information to our investors, and it is important in illustrating what our core operating results would have been had we not included these transaction-related items, since the nature, size and number of these transaction-related items can vary from period to period.

Adjusted Operating Income/Margin – (Loss)/Income from operations adjusted for impairment, amortization, restructuring costs, transaction and transformation and non-recurring items that, in management’s judgment, significantly affect the period-over-period assessment of operating results. Adjusted operating income margin is calculated by dividing adjusted operating income by revenue. We consider adjusted operating income/margin to be important financial measures, which are used internally to evaluate and assess our core operations and to benchmark our operating results against our competitors.

Adjusted EBITDA/Margin – Net (Loss)/Income adjusted for provision for income taxes, interest expense, impairment, depreciation and amortization, restructuring costs, transaction and transformation, gains and losses on disposals of operations and non-recurring items that, in management’s judgment, significantly affect the period-over-period assessment of operating results. Adjusted EBITDA Margin is calculated by dividing adjusted EBITDA by revenue. We consider adjusted EBITDA/margin to be important financial measures, which are used internally to evaluate and assess our core operations, to benchmark our operating results against our competitors and to evaluate and measure our performance-based compensation plans.

Adjusted Net Income – Net (Loss)/Income Attributable to WTW adjusted for impairment, amortization, restructuring costs, transaction and transformation, gains and losses on disposals of operations and non-recurring items that, in management’s judgment, significantly affect the period-over-period assessment of operating results and the related tax effect of those adjustments and the tax effects of internal reorganizations. This measure is used solely for the purpose of calculating adjusted diluted earnings per share.

Adjusted Diluted Earnings Per Share – Adjusted Net Income divided by the weighted-average number of ordinary shares, diluted. Adjusted diluted earnings per share is used to internally evaluate and assess our core operations and to benchmark our operating results against our competitors.

Adjusted Income Before Taxes – (Loss)/Income from operations before income taxes adjusted for impairment, amortization, restructuring costs, transaction and transformation, gains and losses on disposals of operations and non-recurring items that, in management’s judgment, significantly affect the period-over-period assessment of operating results. Adjusted income before taxes is used solely for the purpose of calculating the adjusted income tax rate.

Adjusted Income Taxes/Tax Rate – Benefit from/(provision for) income taxes adjusted for taxes on certain items of impairment, amortization, restructuring costs, transaction and transformation, gains and losses on disposals of operations, the tax effects of internal reorganizations, and non-recurring items that, in management’s judgment, significantly affect the period-over-period assessment of operating results, divided by adjusted income before taxes. Adjusted income taxes is used solely for the purpose of calculating the adjusted income tax rate. Management believes that the adjusted income tax rate presents a rate that is more closely aligned to the rate that we would incur if not for the reduction of pre-tax income for the adjusted items and the tax effects of internal reorganizations, which are not core to our current and future operations.

Free Cash Flow – Cash flows from operating activities less cash used to purchase fixed assets and software for internal use. Free Cash Flow is a liquidity measure and is not meant to represent residual cash flow available for discretionary expenditures. Management believes that free cash flow presents the core operating performance and cash-generating capabilities of our business operations.

Free Cash Flow Margin – Free Cash Flow as a percentage of revenue, which represents how much of revenue would be realized on a cash basis. We consider this measure to be a meaningful metric for tracking cash conversion on a year-over-year basis due to the non-cash nature of our pension income, which is included in our GAAP and Non-GAAP earnings metrics presented herein.

These non-GAAP measures are not defined in the same manner by all companies and may not be comparable to other similarly titled measures of other companies. Non-GAAP measures should be considered in addition to, and not as a substitute for, the information contained within our condensed consolidated financial statements.

WTW Forward-Looking Statements

This document contains ‘forward-looking statements’ within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created by those laws. These forward-looking statements include information about possible or assumed future results of our operations. All statements, other than statements of historical facts, that address activities, events, or developments that we expect or anticipate may occur in the future, including such things as our outlook, plans and references to future performance, including our future financial and operating results (including our revenue, costs, or margins), short-term and long-term financial goals, plans, objectives, expectations and intentions, including with respect to organic revenue growth, free cash flow generation, adjusted net revenue, adjusted operating margin and adjusted earnings per share; future share repurchases; demand for our services and competitive strengths; strategic goals; existing and evolving business strategies including those related to acquisition and disposition activity; the benefits of new initiatives; the growth of our business and operations; the sustained health of our product, service, transaction, client, and talent assessment and management pipelines; our ability to successfully manage ongoing leadership, organizational, and technology changes, including investments in improving systems and processes; our ability to implement and realize anticipated benefits of any cost-savings initiatives including our multi-year operational transformation program; the potential impact of natural or man-made disasters like health pandemics and other world health crises; future capital expenditures; ongoing working capital efforts; the impact of changes to tax laws on our financial results; and our recognition of future impairment charges or write-off of receivables, are forward-looking statements. Also, when we use words such as ‘may’, ‘will’, ‘would’, ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘plan’, ‘continues’, ‘seek’, ‘target’, ‘goal’, ‘focus’, ‘probably’, or similar expressions, we are making forward-looking statements. Such statements are based upon the current beliefs and expectations of our management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. All forward-looking disclosure is speculative by its nature.

There are important risks, uncertainties, events and factors that could cause our actual results or performance to differ materially from those in the forward-looking statements contained in this document, including the following: our ability to successfully establish, execute and achieve our global business strategy as it evolves; our ability to fully realize the anticipated benefits of our growth strategy, including inorganic growth through acquisitions; our ability to make divestitures, including the pending sale of our TRANZACT business (inclusive of all the legal entities that comprise such business), or acquisitions, including our ability to integrate or manage acquired businesses or de-integrate businesses to be disposed, as well as our ability to identify and successfully execute on opportunities for strategic collaboration; our ability to consummate the pending sale of TRANZACT, and related incremental risks associated therewith including our ability to obtain approval (or for applicable waiting periods to expire) under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976; our ability to successfully manage ongoing organizational changes, including as part of our multi-year operational transformation program, investments in improving systems and processes, and in connection with our acquisition and divestiture activities, including the pending sale of TRANZACT, and related to changes in leadership in any of our businesses; risks relating to changes in our management structures and in senior leadership; our ability to achieve our short-term and long-term financial goals, such as with respect to our cash flow generation, and the timing with respect to such achievement; the risks related to changes in general economic conditions, business and political conditions, changes in the financial markets, inflation, credit availability, increased interest rates and changes in trade policies; the risks to our short-term and long-term financial goals from any of the risks or uncertainties set forth herein; the risks relating to the adverse impacts of macroeconomic trends, including inflation, changes in interest rates and trade policies, as well as political events, war, such as the Russia-Ukraine and Middle East conflicts, and other international disputes, terrorism, natural disasters, public health issues and other business interruptions on the global economy and capital markets, which could have a material adverse effect on our business, financial condition, results of operations, and long-term goals; our ability to successfully hedge against fluctuations in foreign currency rates; the risks relating to the adverse impacts of natural or man-made disasters such as health pandemics and other world health crises on the demand for our products and services, our cash flows and our business operations; material interruptions to or loss of our information processing capabilities, or failure to effectively maintain and upgrade our information technology resources and systems and related risks of cybersecurity breaches or incidents; our ability to comply with complex and evolving regulations related to data privacy, cybersecurity, and artificial intelligence; the risks relating to the transitional arrangements in effect subsequent to our previously-completed sale of Willis Re to Arthur J. Gallagher & Co.; significant competition that we face and the potential for loss of market share and/or profitability; the impact of seasonality and differences in timing of renewals and non-recurring revenue increases from disposals and book-of-business sales; the insufficiency of client data protection, potential breaches of information systems or insufficient safeguards against cybersecurity breaches or incidents; the risk of increased liability or new legal claims arising from our new and existing products and services, and expectations, intentions and outcomes relating to outstanding litigation; the risk of substantial negative outcomes on existing litigation or investigation matters; changes in the regulatory environment in which we operate, including, among other risks, the impacts of pending competition law and regulatory investigations; various claims, government inquiries or investigations or the potential for regulatory action; our ability to integrate direct-to-consumer sales and marketing solutions with our existing offerings and solutions; disasters or business continuity problems; our ability to successfully enhance our billing, collection and other working capital efforts, and thereby increase our free cash flow; our ability to properly identify and manage conflicts of interest; reputational damage, including from association with third parties; reliance on third-party service providers and suppliers; the loss of key employees or a large number of employees and rehiring rates; our ability to maintain our corporate culture; doing business internationally, including the impact of foreign currency exchange rates; compliance with extensive government regulation; the risk of sanctions imposed by governments, or changes to associated sanction regulations (such as sanctions imposed on Russia) and related counter-sanctions; our ability to effectively apply technology, data and analytics changes for internal operations, maintaining industry standards and meeting client preferences; changes and developments in the insurance industry or the U.S. healthcare system, including those related to Medicare, any legislative actions from the current U.S. Congress, the recent Final Rule from the Centers for Medicare & Medicaid Services for contract year 2025 and any judicial claims, rulings and appeals related thereto, and any other changes and developments in legal, regulatory, economic, business or operational conditions that could impact our Medicare benefits businesses such as TRANZACT; the inability to protect our intellectual property rights, or the potential infringement upon the intellectual property rights of others; fluctuations in our pension assets and liabilities and related changes in pension income, including as a result of, related to, or derived from movements in the interest rate environment, investment returns, inflation, or changes in other assumptions that are used to estimate our benefit obligations and their effect on adjusted earnings per share; our capital structure, including indebtedness amounts, the limitations imposed by the covenants in the documents governing such indebtedness and the maintenance of the financial and disclosure controls and procedures of each; our ability to obtain financing on favorable terms or at all; adverse changes in our credit ratings; the impact of recent or potential changes to U.S. or foreign laws, and the enactment of additional, or the revision of existing, state, federal, and/or foreign laws and regulations, recent judicial decisions and development of case law, other regulations and any policy changes and legislative actions, including those that may impose additional excise taxes or impact our effective tax rate; U.S. federal income tax consequences to U.S. persons owning at least 10% of our shares; changes in accounting principles, estimates or assumptions; our recognition of non-cash pre-tax losses and related impairment charges in connection with our pending sale of TRANZACT and other future impairment charges or write-offs of receivables; risks relating to or arising from environmental, social and governance practices; fluctuation in revenue against our relatively fixed or higher than expected expenses; the risk that investment levels, including cash spending, to achieve additional expected savings under our multi-year operational transformation program; the laws of Ireland being different from the laws of the U.S. and potentially affording less protections to the holders of our securities; and our holding company structure potentially preventing us from being able to receive dividends or other distributions in needed amounts from our subsidiaries.

The foregoing list of factors is not exhaustive and new factors may emerge from time to time that could also affect actual performance and results. For more information, please see Part I, Item 1A in our Annual Report on Form 10-K, and our subsequent filings with the SEC. Copies are available online at www.sec.gov or www.wtwco.com.

Although we believe that the assumptions underlying our forward-looking statements are reasonable, any of these assumptions, and therefore also the forward-looking statements based on these assumptions, could themselves prove to be inaccurate. Given the significant uncertainties inherent in the forward-looking statements included in this document, our inclusion of this information is not a representation or guarantee by us that our objectives and plans will be achieved.

Our forward-looking statements speak only as of the date made, and we will not update these forward-looking statements unless the securities laws require us to do so. With regard to these risks, uncertainties and assumptions, the forward-looking events discussed in this document may not occur, and we caution you against unduly relying on these forward-looking statements.

Contact

INVESTORS

Claudia De La Hoz | Claudia.Delahoz@wtwco.com

WTW Supplemental Segment Information (In millions of U.S. dollars) (Unaudited)
REVENUE
							Components of Revenue Change⁽ⁱ⁾
							Less:				Less:
	Three Months Ended September 30,				As Reported		Currency		Constant Currency		Acquisitions/		Organic
	2024		2023		% Change		Impact		Change		Divestitures		Change

Health, Wealth & Career
Revenue excluding interest income	$	1,320	$	1,275	4	%	0	%	3	%	0	%	4	%
Interest income		8		7
Total		1,328		1,282	4	%	0	%	3	%	0	%	4	%

Risk & Broking
Revenue excluding interest income	$	911	$	830	10	%	0	%	10	%	0	%	10	%
Interest income		29		25
Total		940		855	10	%	0	%	10	%	0	%	10	%

Segment Revenue	$	2,268	$	2,137	6	%	0	%	6	%	0	%	6	%
Reimbursable expenses and other		15		22
Interest income		6		7
Revenue	$	2,289	$	2,166	6	%	0	%	6	%	0	%	6%⁽ⁱⁱ⁾

							Components of Revenue Change⁽ⁱ⁾
							Less:				Less:
	Nine Months Ended September 30,				As Reported		Currency		Constant Currency		Acquisitions/		Organic
	2024		2023		% Change		Impact		Change		Divestitures		Change

Health, Wealth & Career
Revenue excluding interest income	$	3,898	$	3,766	4	%	0	%	4	%	0	%	4	%
Interest income		26		18
Total		3,924		3,784	4	%	0	%	4	%	0	%	4	%

Risk & Broking
Revenue excluding interest income	$	2,811	$	2,607	8	%	0	%	8	%	0	%	8	%
Interest income		86		52
Total		2,897		2,659	9	%	0	%	9	%	0	%	9	%

Segment Revenue	$	6,821	$	6,443	6	%	0	%	6	%	0	%	6	%
Reimbursable expenses and other		56		90
Interest income		18		36
Revenue	$	6,895	$	6,569	5	%	0	%	5	%	0	%	5%⁽ⁱⁱ⁾

⁽ⁱ⁾ Components of revenue change may not add due to rounding.
⁽ⁱⁱ⁾ Interest income did not contribute to organic change for the three and nine months ended September 30, 2024.

BOOK-OF-BUSINESS SETTLEMENTS AND INTEREST INCOME

	Three Months Ended September 30,
	HWC				R&B				Corporate				Total
	2024		2023		2024		2023		2024		2023		2024		2023
Book-of-business settlements	$	3	$	—	$	4	$	1	$	—	$	—	$	7	$	1
Interest income		8		7		29		25		6		7		43		39
Total	$	11	$	7	$	33	$	26	$	6	$	7	$	50	$	40

	Nine Months Ended September 30,
	HWC				R&B				Corporate				Total
	2024		2023		2024		2023		2024		2023		2024		2023
Book-of-business settlements	$	3	$	—	$	8	$	11	$	—	$	—	$	11	$	11
Interest income		26		18		86		52		18		36		130		106
Total	$	29	$	18	$	94	$	63	$	18	$	36	$	141	$	117

SEGMENT OPERATING INCOME ⁽ⁱ⁾

	Three Months Ended September 30,





	2024		2023











Health, Wealth & Career	$	329	$	305





Risk & Broking		170		134





Segment Operating Income	$	499	$	439

	Nine Months Ended September 30,
	2024		2023

Health, Wealth & Career	$	941	$	836
Risk & Broking		575		459
Segment Operating Income	$	1,516	$	1,295

⁽ⁱ⁾ Segment operating income excludes certain costs, including amortization of intangibles, restructuring costs, transaction and transformation expenses, certain litigation provisions, and to the extent that the actual expense based upon which allocations are made differs from the forecast/budget amount, a reconciling item will be created between internally-allocated expenses and the actual expenses reported for U.S. GAAP purposes.

SEGMENT OPERATING MARGINS

	Three Months Ended September 30,
	2024	2023
Health, Wealth & Career	24.7%	23.8%
Risk & Broking	18.1%	15.7%

	Nine Months Ended September 30,
	2024	2023
Health, Wealth & Career	24.0%	22.1%
Risk & Broking	19.8%	17.3%

RECONCILIATIONS OF SEGMENT OPERATING INCOME TO (LOSS)/INCOME FROM OPERATIONS BEFORE INCOME TAXES

	Three Months Ended September 30,
	2024			2023

Segment Operating Income	$	499		$	439
Impairment⁽ⁱ⁾		(1,042	)		—
Amortization		(56	)		(62	)
Restructuring costs		(8	)		(17	)
Transaction and transformation⁽ⁱⁱ⁾		(74	)		(113	)
Unallocated, net⁽ⁱⁱⁱ⁾		(85	)		(88	)
(Loss)/Income from Operations		(766	)		159
Interest expense		(65	)		(61	)
Other (loss)/income, net		(1,163	)		66
(Loss)/income from operations before income taxes	$	(1,994	)	$	164

	Nine Months Ended September 30,
	2024			2023

Segment Operating Income	$	1,516		$	1,295
Impairment⁽ⁱ⁾		(1,042	)		—
Amortization		(176	)		(203	)
Restructuring costs		(29	)		(30	)
Transaction and transformation⁽ⁱⁱ⁾		(296	)		(265	)
Unallocated, net⁽ⁱⁱⁱ⁾		(247	)		(211	)
(Loss)/Income from Operations		(274	)		586
Interest expense		(197	)		(172	)
Other (loss)/income, net		(1,113	)		126
(Loss)/income from operations before income taxes	$	(1,584	)	$	540

⁽ⁱ⁾ Represents the non-cash goodwill impairment associated with our BDA reporting unit related to the pending divestiture of our TRANZACT business.
⁽ⁱⁱ⁾ In 2024 and 2023, in addition to legal fees and other transaction costs, includes primarily consulting fees and compensation costs related to the Transformation program.
⁽ⁱⁱⁱ⁾ Includes certain costs, primarily related to corporate functions which are not directly related to the segments, and certain differences between budgeted expenses determined at the beginning of the year and actual expenses that we report for U.S. GAAP purposes.

WTW
Reconciliations of Non-GAAP Measures
(In millions of U.S. dollars, except per share data)
(Unaudited)

RECONCILIATIONS OF NET (LOSS)/INCOME ATTRIBUTABLE TO WTW TO ADJUSTED DILUTED EARNINGS PER SHARE

	Three Months Ended September 30,
	2024			2023

Net (loss)/income attributable to WTW	$	(1,675	)	$	136
Adjusted for certain items:
Impairment		1,042			—
Amortization		56			62
Restructuring costs		8			17
Transaction and transformation		74			113
Loss/(gain) on disposal of operations		1,190			(41	)
Tax effect on certain items listed above⁽ⁱⁱ⁾		(396	)		(51	)
Adjusted Net Income	$	299		$	236

Weighted-average ordinary shares, diluted		102			105

Diluted (Loss)/Earnings Per Share	$	(16.44	)	$	1.29
Adjusted for certain items:⁽ⁱⁱⁱ⁾
Impairment		10.23			—
Amortization		0.55			0.59
Restructuring costs		0.08			0.16
Transaction and transformation		0.73			1.07
Loss/(gain) on disposal of operations		11.68			(0.39	)
Tax effect on certain items listed above⁽ⁱⁱ⁾		(3.89	)		(0.48	)
Adjusted Diluted Earnings Per Share⁽ⁱⁱⁱ⁾	$	2.93		$	2.24

	Nine Months Ended September 30,
	2024			2023

Net (loss)/income attributable to WTW	$	(1,344	)	$	433
Adjusted for certain items:
Impairment		1,042			—
Amortization		176			203
Restructuring costs		29			30
Transaction and transformation		296			265
Provision for specified litigation matter⁽ⁱ⁾		13			—
Loss/(gain) on disposal of operations		1,190			(44	)
Tax effect on certain items listed above⁽ⁱⁱ⁾		(492	)		(128	)
Tax effect of significant adjustments		(7	)		2
Adjusted Net Income	$	903		$	761

Weighted-average ordinary shares, diluted		103			107

Diluted (Loss)/Earnings Per Share	$	(13.11	)	$	4.06
Adjusted for certain items:⁽ⁱⁱⁱ⁾
Impairment		10.17			—
Amortization		1.72			1.90
Restructuring costs		0.28			0.28
Transaction and transformation		2.89			2.48
Provision for specified litigation matter⁽ⁱ⁾		0.13			—
Loss/(gain) on disposal of operations		11.61			(0.41	)
Tax effect on certain items listed above⁽ⁱⁱ⁾		(4.80	)		(1.20	)
Tax effect of significant adjustments		(0.07	)		0.02
Adjusted Diluted Earnings Per Share⁽ⁱⁱⁱ⁾	$	8.81		$	7.13

⁽ⁱ⁾ Represents a provision related to potential litigation arising out of a structured insurance program originally placed for a client over 15 years ago. The program is of a type and complexity that was highly bespoke to the client and for that reason is unlikely to be exactly replicated elsewhere. Because of this, while we do not believe the potential litigation is material, we believe excluding this matter from adjusted results makes results more comparable from period to period and more representative of our core business operations.
⁽ⁱⁱ⁾ The tax effect was calculated using an effective tax rate for each item.
⁽ⁱⁱⁱ⁾ Per share values and totals may differ due to rounding.

RECONCILIATIONS OF NET (LOSS)/INCOME TO ADJUSTED EBITDA

	Three Months Ended September 30,
	2024					2023

Net (Loss)/Income	$	(1,672	)	(73.0	)%	$	139		6.4	%
Provision for income taxes		(322	)				25
Interest expense		65					61
Impairment		1,042					—
Depreciation		60					60
Amortization		56					62
Restructuring costs		8					17
Transaction and transformation		74					113
Loss/(gain) on disposal of operations		1,190					(41	)
Adjusted EBITDA and Adjusted EBITDA Margin	$	501		21.9	%	$	436		20.1	%

	Nine Months Ended September 30,
	2024					2023

Net (Loss)/Income	$	(1,336	)	(19.4	)%	$	441		6.7	%
Provision for income taxes		(248	)				99
Interest expense		197					172
Impairment		1,042					—
Depreciation		176					184
Amortization		176					203
Restructuring costs		29					30
Transaction and transformation		296					265
Provision for specified litigation matter⁽ⁱ⁾		13					—
Loss/(gain) on disposal of operations		1,190					(44	)
Adjusted EBITDA and Adjusted EBITDA Margin	$	1,535		22.3	%	$	1,350		20.6	%

⁽ⁱ⁾ Represents a provision related to potential litigation arising out of a structured insurance program originally placed for a client over 15 years ago. The program is of a type and complexity that was highly bespoke to the client and for that reason is unlikely to be exactly replicated elsewhere. Because of this, while we do not believe the potential litigation is material, we believe excluding this matter from adjusted results makes results more comparable from period to period and more representative of our core business operations.

RECONCILIATIONS OF (LOSS)/INCOME FROM OPERATIONS TO ADJUSTED OPERATING INCOME

	Three Months Ended September 30,
	2024					2023

(Loss)/Income from operations and Operating margin	$	(766	)	(33.5	)%	$	159	7.3	%
Adjusted for certain items:
Impairment		1,042					—
Amortization		56					62
Restructuring costs		8					17
Transaction and transformation		74					113
Adjusted operating income and Adjusted operating income margin	$	414		18.1	%	$	351	16.2	%

	Nine Months Ended September 30,
	2024					2023

(Loss)/Income from operations and Operating margin	$	(274	)	(4.0	)%	$	586	8.9	%
Adjusted for certain items:
Impairment		1,042					—
Amortization		176					203
Restructuring costs		29					30
Transaction and transformation		296					265
Provision for specified litigation matter⁽ⁱ⁾		13					—
Adjusted operating income and Adjusted operating income margin	$	1,282		18.6	%	$	1,084	16.5	%

⁽ⁱ⁾ Represents a provision related to potential litigation arising out of a structured insurance program originally placed for a client over 15 years ago. The program is of a type and complexity that was highly bespoke to the client and for that reason is unlikely to be exactly replicated elsewhere. Because of this, while we do not believe the potential litigation is material, we believe excluding this matter from adjusted results makes results more comparable from period to period and more representative of our core business operations.

RECONCILIATIONS OF GAAP INCOME TAXES/TAX RATE TO ADJUSTED INCOME TAXES/TAX RATE

	Three Months Ended September 30,
	2024			2023

(Loss)/income from operations before income taxes	$	(1,994	)	$	164

Adjusted for certain items:
Impairment		1,042			—
Amortization		56			62
Restructuring costs		8			17
Transaction and transformation		74			113
Loss/(gain) on disposal of operations		1,190			(41	)
Adjusted income before taxes	$	376		$	315

(Benefit from)/provision for income taxes	$	(322	)	$	25
Tax effect on certain items listed above⁽ⁱⁱ⁾		396			51
Adjusted income taxes	$	74		$	76

U.S. GAAP tax rate		16.1	%		15.5	%
Adjusted income tax rate		19.7	%		24.3	%

	Nine Months Ended September 30,
	2024			2023

(Loss)/income from operations before income taxes	$	(1,584	)	$	540

Adjusted for certain items:
Impairment		1,042			—
Amortization		176			203
Restructuring costs		29			30
Transaction and transformation		296			265
Provision for specified litigation matter⁽ⁱ⁾		13			—
Loss/(gain) on disposal of operations		1,190			(44	)
Adjusted income before taxes	$	1,162		$	994

(Benefit from)/provision for income taxes	$	(248	)	$	99
Tax effect on certain items listed above⁽ⁱⁱ⁾		492			128
Tax effect of significant adjustments		7			(2	)
Adjusted income taxes	$	251		$	225

U.S. GAAP tax rate		15.6	%		18.3	%
Adjusted income tax rate		21.6	%		22.6	%

⁽ⁱ⁾ Represents a provision related to potential litigation arising out of a structured insurance program originally placed for a client over 15 years ago. The program is of a type and complexity that was highly bespoke to the client and for that reason is unlikely to be exactly replicated elsewhere. Because of this, while we do not believe the potential litigation is material, we believe excluding this matter from adjusted results makes results more comparable from period to period and more representative of our core business operations.
⁽ⁱⁱ⁾ The tax effect was calculated using an effective tax rate for each item.

RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES TO FREE CASH FLOW

	Nine Months Ended September 30,
	2024			2023

Cash flows from operating activities	$	913		$	823
Less: Additions to fixed assets and software for internal use		(106	)		(116	)
Free Cash Flow	$	807		$	707

WILLIS TOWERS WATSON PUBLIC LIMITED COMPANY Condensed Consolidated Statements of Income (In millions of U.S. dollars, except per share data) (Unaudited)
	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Revenue	$	2,289		$	2,166		$	6,895		$	6,569

Costs of providing services
Salaries and benefits		1,396			1,359			4,135			4,019
Other operating expenses		419			396			1,315			1,282
Impairment		1,042			—			1,042			—
Depreciation		60			60			176			184
Amortization		56			62			176			203
Restructuring costs		8			17			29			30
Transaction and transformation		74			113			296			265
Total costs of providing services		3,055			2,007			7,169			5,983

(Loss)/income from operations		(766	)		159			(274	)		586

Interest expense		(65	)		(61	)		(197	)		(172	)
Other (loss)/income, net		(1,163	)		66			(1,113	)		126

(LOSS)/INCOME FROM OPERATIONS BEFORE INCOME TAXES		(1,994	)		164			(1,584	)		540

Benefit from/(provision for) income taxes		322			(25	)		248			(99	)

NET (LOSS)/INCOME		(1,672	)		139			(1,336	)		441

Income attributable to non-controlling interests		(3	)		(3	)		(8	)		(8	)

NET (LOSS)/INCOME ATTRIBUTABLE TO WTW	$	(1,675	)	$	136		$	(1,344	)	$	433

(LOSS)/EARNINGS PER SHARE
Basic (loss)/earnings per share	$	(16.44	)	$	1.30		$	(13.11	)	$	4.08
Diluted (loss)/earnings per share	$	(16.44	)	$	1.29		$	(13.11	)	$	4.06

Weighted-average ordinary shares, basic		102			105			103			106
Weighted-average ordinary shares, diluted		102			105			103			107

WILLIS TOWERS WATSON PUBLIC LIMITED COMPANY Condensed Consolidated Balance Sheets (In millions of U.S. dollars, except share data) (Unaudited)
	September 30,			December 31,
	2024			2023
ASSETS
Cash and cash equivalents	$	1,372		$	1,424
Fiduciary assets		9,176			9,073
Accounts receivable, net		2,118			2,572
Prepaid and other current assets		558			364
Current assets held for sale		1,089			—
Total current assets		14,313			13,433
Fixed assets, net		710			720
Goodwill		8,882			10,195
Other intangible assets, net		1,360			2,016
Right-of-use assets		539			565
Pension benefits assets		632			588
Other non-current assets		732			1,573
Total non-current assets		12,855			15,657
TOTAL ASSETS	$	27,168		$	29,090
LIABILITIES AND EQUITY
Fiduciary liabilities	$	9,176		$	9,073
Deferred revenue and accrued expenses		2,027			2,104
Current debt		—			650
Current lease liabilities		122			125
Other current liabilities		735			678
Current liabilities held for sale		475			—
Total current liabilities		12,535			12,630
Long-term debt		5,308			4,567
Liability for pension benefits		487			563
Deferred tax liabilities		94			542
Provision for liabilities		416			365
Long-term lease liabilities		556			592
Other non-current liabilities		202			238
Total non-current liabilities		7,063			6,867
TOTAL LIABILITIES		19,598			19,497
COMMITMENTS AND CONTINGENCIES
EQUITY⁽ⁱ⁾
Additional paid-in capital		10,957			10,910
(Accumulated deficit)/retained earnings		(650	)		1,466
Accumulated other comprehensive loss, net of tax		(2,810	)		(2,856	)
Treasury shares, at cost, 15,574 shares in 2024		(5	)		—
Total WTW shareholders’ equity		7,492			9,520
Non-controlling interests		78			73
Total Equity		7,570			9,593
TOTAL LIABILITIES AND EQUITY	$	27,168		$	29,090

(i) Equity includes (a) Ordinary shares $0.000304635 nominal value; Authorized 1,510,003,775; Issued 100,887,015 (2024) and 102,538,072 (2023); Outstanding 100,871,441 (2024) and 102,538,072 (2023) and (b) Preference shares, $0.000115 nominal value; Authorized 1,000,000,000 and Issued none in 2024 and 2023.

WILLIS TOWERS WATSON PUBLIC LIMITED COMPANY Condensed Consolidated Statements of Cash Flows (In millions of U.S. dollars) (Unaudited)
	Nine Months Ended September 30,
	2024			2023
CASH FLOWS FROM OPERATING ACTIVITIES
NET (LOSS)/INCOME	$	(1,336	)	$	441
Adjustments to reconcile net income to total net cash from operating activities:
Depreciation		176			184
Amortization		176			203
Impairment		1,042			—
Non-cash restructuring charges		17			19
Non-cash lease expense		76			83
Net periodic benefit of defined benefit pension plans		(15	)		(20	)
Provision for doubtful receivables from clients		13			8
Benefit from deferred income taxes		(379	)		(58	)
Share-based compensation		85			87
Net loss/(gain) on disposal of operations		1,190			(44	)
Non-cash foreign exchange (gain)/loss		(25	)		1
Other, net		32			21
Changes in operating assets and liabilities, net of effects from purchase of subsidiaries:
Accounts receivable		271			261
Other assets		(299	)		(175	)
Other liabilities		(159	)		(191	)
Provisions		48			3
Net cash from operating activities		913			823

CASH FLOWS USED IN INVESTING ACTIVITIES
Additions to fixed assets and software for internal use		(106	)		(116	)
Capitalized software costs		(83	)		(66	)
Acquisitions of operations, net of cash acquired		(28	)		(6	)
Proceeds from sale of operations		—			86
Cash and fiduciary funds transferred in sale of operations		—			(922	)
Purchase of investments		(13	)		(6	)
Net cash used in investing activities		(230	)		(1,030	)

CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES
Senior notes issued		746			748
Debt issuance costs		(9	)		(7	)
Repayments of debt		(653	)		(253	)
Repurchase of shares		(506	)		(804	)
Net proceeds/(payments) from fiduciary funds held for clients		934			(71	)
Payments of deferred and contingent consideration related to acquisitions		(2	)		(8	)
Cash paid for employee taxes on withholding shares		(30	)		(21	)
Dividends paid		(265	)		(265	)
Acquisitions of and dividends paid to non-controlling interests		(10	)		(47	)
Net cash from/(used in) financing activities		205			(728	)

INCREASE/(DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH		888			(935	)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		32			(54	)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD ⁽ⁱ⁾		3,792			4,721
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD ⁽ⁱ⁾	$	4,712		$	3,732

(i) The amounts of cash, cash equivalents and restricted cash, their respective classification on the condensed consolidated balance sheets, as well as their respective portions of the increase or decrease in cash, cash equivalents and restricted cash for each of the periods presented have been included in the Supplemental Disclosures of Cash Flow Information section.

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

	Nine Months Ended September 30,
	2024			2023

Supplemental disclosures of cash flow information:
Cash and cash equivalents	$	1,372		$	1,247
Fiduciary funds (included in fiduciary assets)		3,340			2,485
Total cash, cash equivalents and restricted cash	$	4,712		$	3,732

(Decrease)/increase in cash, cash equivalents and other restricted cash	$	(54	)	$	5
Increase/(decrease) in fiduciary funds		942			(940	)
Total ⁽ⁱ⁾	$	888		$	(935	)

⁽ⁱ⁾ Does not include the effect of exchange rate changes on cash, cash equivalents and restricted cash.

The MIL Network –

January 25, 2025

MIL-OSI United Kingdom: Don’t burn a hole in your pocket with a fine this Bonfire Night

Source: United Kingdom – Executive Government & Departments

Burning household waste can cause pollution, harm people, wildlife and the environment and could lead to a fine of up to £50,000.

Go to a properly organised bonfire instead of holding your own and risk breaking the rules

With Bonfire Night fast approaching, the Environment Agency is urging those planning to celebrate to go to an organised event or risk a hefty fine if holding their own.

As well as the safety risks caused by bonfires, they have an impact on the climate and, if the wrong materials are burned, can harm wildlife, the environment and human health.

The only materials that should be used in bonfires are dry, untreated and unpainted wood, along with small amounts of paper or cardboard. Using wet wood creates smoke which can spread and cause a nuisance to neighbours, and bonfires can quickly get out of control if not properly managed.

Those still planning to have a bonfire at home are advised:

not to use it to dispose of household waste such as plastic, rubber, glass, oils or metal – these materials carry a pollution risk and should be disposed of through waste collections or at council recycling centres.
always check for hedgehogs and other wildlife which may have crawled inside before setting light to a bonfire
don’t allow anyone else to add materials to your bonfire, other than clean, dry, untreated wood.

Wet wood creates smoke and bonfires can quickly escape control

It’s not just householders that may use Bonfire Night as a way of getting rid of rubbish, businesses may use it to burn waste too, but the Environment Agency also urges them to be aware of what they are burning.

As well as the harm and nuisance burning the wrong kind of waste can cause, burning of most types of waste is illegal and can carry a fine of up to £50,000.

Ben Shayler of the Environment Agency said:

We want people to have fun on Bonfire Night – but to do so safely and in a way that won’t create a risk to the environment, wildlife, you and your neighbours.

The best way of doing that is to stop burning waste altogether and go to a properly organised community event where organisers have followed our guidelines and won’t be causing a hazard.

Whether you are a business owner or householder, if you are paying someone to take waste away, always check they are licensed waste carriers who will dispose of waste correctly. Criminals working in illegal waste operations may also use the celebration to dispose of hazardous and inappropriate waste.

Dave Waters, area manager of Dorset & Wiltshire Fire and Rescue Service, said:

We would always urge people to attend organised bonfire and fireworks events as it’s much safer. In addition, it reduces the potential pressure on the fire and rescue service at a time of year when we can be extremely busy.

If you see a bonfire being built, which you think may contain hazardous materials, you can contact the Environment Agency on our 24-hour helpline at 0800 807060 or report it anonymously to Crimestoppers on 0800 555111.

You can check if a waste carrier is licensed on our public register.

Published 31 October 2024

MIL OSI United Kingdom –

January 25, 2025

MIL-OSI New Zealand: New Zealand concludes high quality trade deal with the Gulf Cooperation Council (GCC)

Source: New Zealand Government

New Zealand and the six-nation Gulf Cooperation Council (GCC) have concluded negotiations on a trade agreement that will open up significant opportunities for New Zealand exporters in the Gulf region, Minister for Trade and Agriculture Todd McClay announced from Doha today.

Today’s announcement follows significant reengagement with the GCC following meetings with GCC Ministers at the WTO Ministerial Meeting in Abu Dhabi in February of this year and delivers on an 18 year-long ambition for New Zealand to agree this high-quality trade deal in the Middle East.

“This is the highest quality deal the GCC has done to date and its first with a major agricultural exporter,” Mr McClay said.

“It delivers duty free access for 99 per cent of New Zealand’s exports over 10 years and when combined with our recently concluded NZ-UAE CEPA, 51 per cent of our exports to the region will be tariff-free from day one.

New Zealand and GCC trade is worth over $3 billion annually, with New Zealand exporting $2.6 billion in the year to June 2024. This includes $1.8 billion of dairy, $260 million of red meat, $72 million of horticulture and $70 million of travel and tourism services.

The agreement includes provisions that will make doing business easier with preferential access for our primary sector exporters, streamlined customs processes, reduced trade barriers, and commitments to level the playing field for Kiwi services businesses entering the market.

The agreement also includes chapters and provisions on intellectual property, transparency and trade and sustainable development including labour standards, climate, and women’s economic empowerment committing to the Convention on the Elimination of All Forms of Discrimination against Women (CEDAW). New Zealand has also secured our Treaty of Waitangi exception to allow us to meet treaty obligations.

“This agreement complements the NZ-UAE CEPA that was announced in September, and together they represent an important milestone in the Government’s efforts to grow our international connections and double exports by value in 10 years,” Mr McClay says.

“Successfully concluding a trade agreement with the GCC has been a long-standing ambition for successive governments for almost two decades. Growing New Zealand’s trade relationships is part of our plan to grow the economy, lift incomes for kiwis, and create jobs.”

MIL OSI New Zealand News –

January 25, 2025

MIL-OSI United Kingdom: Greens lodge proposals to ban Lords from serving in Scottish Parliament

Source: Scottish Greens

31 Oct 2024 Scottish Independence

The House of Lords is an archaic and antidemocratic institution.

Members of the House of Lords would be disqualified from serving in the Scottish Parliament under proposals lodged today by Scottish Green MSP Ross Greer.

Peers have been barred from voting in general elections and are not allowed to stand for election to the House of Commons. Mr Greer’s proposal, lodged as an amendment to the Elections Bill, would also disqualify them from taking office as MSPs.

Ross Greer MSP said:

“The House of Lords is an antidemocratic and archaic institution. It should be a source of embarrassment to the UK that more than half of Westminster’s lawmakers are completely unelected and unaccountable, including some who quite clearly paid for their peerages with dodgy donations to one party or another.

“The only way you should get to decide on the laws of this country is via a fair election. Every MSP is democratically elected, but there is a clear conflict between this and sitting in the unelected Lords. If a peer wants to serve in Holyrood, they should resign their membership of the Lords first.

“A handful of peers have been elected as MSPs since the Scottish Parliament was re-established. Most have done a fantastic job of advocating for their constituents and representing their communities.

“This amendment is not about individuals, it is about democracy and accountability. I hope that MSPs across all parties will put those principles first by supporting my amendment.”

MIL OSI United Kingdom –

January 25, 2025

MIL-OSI Russia: The scientific and production forum “Golden Valley” brought together authorities, industrialists and scientists

Translation. Region: Russian Federation –

Source: Novosibirsk State University – Novosibirsk State University –

On October 31, the second scientific and production forum “Golden Valley” began its work, the main organizer of which is Novosibirsk State University. The goal of the event is to stimulate interaction between the university and scientific organizations with industrial partners through the implementation of joint projects and demonstration of scientific developments in the interests of the real sector of the economy. The forum brought together more than 1,000 participants from all over the country.

Opening the forum, Vice-Governor of the Novosibirsk Region Irina Manuilova noted that our region has extensive experience in holding large forums. For the 11th time this year, the Technoprom International Forum for the Development of the Russian Federation was held, and the topics that will be discussed within the framework of the Golden Valley will be continued at Technoprom next year.

— Today we are opening a forum at a leading university, which is one of the five leading universities in the country. Industry leaders have gathered here to share their experience in solving priority tasks to achieve technological sovereignty of Russia. The President has set a task for us — to become leaders in the implementation of innovations in the economy, to achieve technological leadership. In the shortest possible time, we need to build new technological chains together. To this end, new technological projects will be launched in 2025, developed in accordance with the national development goals of the Russian Federation for the period up to 2030. Universities play one of the leading roles in this process. As Governor Andrei Travnikov noted earlier, the role of universities in the socio-economic development of the regions has increased significantly today. This is reflected in federal programs — the strategic academic leadership “Priority 2030”, the project to create modern campuses, which the regional government actively supports, — noted Irina Manuilova.

The forum program includes plenary sessions, thematic sections, scientific tours and a number of satellite events, including the strategic session “Digital Transformation: Artificial Intelligence in Solving Public Sector Problems,” initiated by the Ministry of Digital Development and Communications of the Novosibirsk Region.

— Further digital transformation of the Novosibirsk Region is inseparable from the scientific and fundamental base. The regional government is conducting targeted work on priority research tasks in the interests of ministries and departments. The Ministry of Digital Development plans to conduct a number of scientific studies in the field of unmanned aircraft systems and artificial intelligence. We will build this work in a proactive dialogue with representatives of the university and scientific community, the real sector of the economy. To this end, within the framework of the Golden Valley forum, we are holding a strategic session on the implementation of AI technologies in solving public sector problems, — emphasized Sergey Tsukar, Minister of Digital Development and Communications of the Novosibirsk Region.

The thematic sections of the Golden Valley focus on current areas of technological development of the Russian economy – aviation and unmanned aircraft systems, mechanical engineering, energy, robotics and artificial intelligence technologies in industry, construction, medicine and agricultural technologies.

Representatives of large federal companies and state corporations, such as United Engine Corporation, AFK Sistema, AvtoVAZ, Rostec State Corporation, heads of industrial enterprises of the Novosibirsk Region, leading scientists of the Novosibirsk Scientific Center, as well as young innovators united in the University Startup Studio, will deliver reports at plenary and sectional sessions.

NSU is the organizer of the forum for the second year, devoting a lot of attention to this event.

— Holding such a forum is an important part of our transformation strategy, when we actively integrate into the economic agenda and participate in solving real problems of various industries. The goal of the forum for us is to strengthen and develop the interaction of the university with industrial partners and in the future to involve them in joint developments and creation of technologies already on the basis of the university. I would like to wish that this forum, which unites science, industry and education, will further contribute to the development and strengthening of the “Lavrentiev triangle”. And the university will do everything to achieve this goal, — commented the rector of NSU, academician of the Russian Academy of Sciences Mikhail Fedoruk.

The forum will last two days and, as last year, should lead to the conclusion of a number of agreements between the university and representatives of the high-tech industry.

Reference:

The first scientific and production forum “Golden Valley” was held in 2023. Then it brought together more than 1000 participants. Over 130 speakers spoke at sections and plenary sessions, including 15 members of the Russian Academy of Sciences, 20 rectors of universities in the Siberian Federal District, and more than 50 directors of federal and regional enterprises.

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

MIL OSI Russia News –

January 25, 2025

MIL-OSI Europe: AMERICA/USA – Electoral campaign between Harris and Trump is challenged on foreign policy and ‘World War in pieces’

Source: Agenzia Fides – MIL OSI

Washington (Agenzia Fides) – The war in the Middle East has entered the race for the White House especially in those States like Michigan where there is a large percentage of the population of Arab origin (Palestinian, Lebanese and Iraqi in particular).Foreign policy is not traditionally among the key factors that guide the US electorate’s choices inside the ballot box. Nonetheless, the outcome of the US presidential election (voting takes place on Tuesday 5 November) is bound to have a significant impact on the tensions that cross the global geopolitical scenarios and the wars that bloody the world.The Democratic candidate is in a difficult position because she is part of the current administration that granted at least $18 billion in military aid to Israel after the attack unleashed by Hamas on 7 October 2023, fuelling criticism from those who see America as complicit in the massacres committed against civilians in Gaza. Kamala Harris has not been spared criticism from the more left-wing part of her party and the Arab electorate, despite being as Vice-President one of the first people in the Biden administration to call for an ‘immediate ceasefire’, and to express concern about the ‘humanitarian catastrophe for the Palestinians’ urging Israel to end the conflict. However, she did not support an arms embargo against Israel, which some on the US left would like. At the party convention, she said she would ‘always stand up for Israel’s right to defend itself’.In her support, the 2016 nominee of the most left-wing part of the Democratic Party, Bernie Sanders recently promised his supporters: ‘I promise you, after Kamala wins, we will together do everything that we can to change US policy toward Netanyahu’.But the Democratic candidate aroused the ire of the Arab-origin electorate when she received the endorsement of Liz Cheney, daughter of Goerge W. Bush’s former vice-president Dick Cheney, who is considered a hawk who promoted the invasion of Iraq in 2003 and is not well regarded by Americans of Iraqi origin.Donald Trump did not miss the opportunity to ridicule in the eyes of the electorate of Arab origin the proximity offered by the former Republican congresswoman to the Democratic candidate, saying: ‘Liz Cheney, who, like her father, the man that pushed Bush to ridiculously go to War in the Middle East, also wants to go to War with every Muslim Country known to mankind’. Trump for his part has to make amends for inflammatory statements towards Arabs and Muslims, especially with regard to immigration to the US, but he is now trying to get closer to the Arab electorate (and more generally those who are critical of the war in Gaza) by promising to be the one who will bring peace back to the Middle East and Ukraine. ‘If Kamala gets four more years, the Middle East will spend the next four decades going up in flames, and your kids will be going off to War, maybe even a Third World War, something that will never happen with President Donald J. Trump in charge,’ he said. But beyond rhetorical proclamations what is Trump’s position on the Middle East? Trump has repeatedly stated that the war between Israel and Hamas would never have broken out had he been in power, although he has offered few details on how he would have handled the situation differently from Biden. During his time in office, he promoted the so-called Abraham Accords that led to the opening of diplomatic relations between Israel and a number of Arab states (the UAE, Bahrain, Morocco and Sudan) and with the prospect of reaching a regional understanding extended to Saudi Arabia, the other pillar of American policy in the Middle East. The aim was to create a regional security system centred on Israel and Saudi Arabia of which the US would act as external guarantor, allowing it to withdraw some of its troops deployed in the area.The logic behind the Abraham Accords was explained by Trump’s vice presidential candidate, JD Vance. ‘America doesn’t have to constantly police every region of the world,’ he said in a television interview. ‘We should empower people to police their own regions of the world.’ Vance while recognizing Israel’s right to defend itself stated that a war with Iran is not in the US interest.The Abraham Accords, however, do not offer a real solution to the Palestinian issue even though Trump in early 2020 had proposed an American-funded Israeli-Palestinian peace plan aimed at making Gaza an international tourism hub. The Trump administration had also recognized Jerusalem as the capital of Israel where it had transferred the embassy from Tel Aviv and closed the US consulate in East Jerusalem that mainly served Palestinians. (L.M.) (Agenzia Fides, 31/10/2024)
Share:

MIL OSI Europe News –

January 25, 2025

MIL-OSI Security: United States Delivers Second United Nations Level 2 Hospital to Uganda for Peacekeeping and Humanitarian Efforts

Source: United States AFRICOM

Gallery contains 4 images

The U.S. provided $5.5 million state-of-the-art U.N. Level 2 hospital As to help support the Ugandan military. The 22-bed facility, equipped with specialized suites for dental and surgical care, is designed for rapid deployment in response to regional peacekeeping, humanitarian emergencies, and medical crises.

The donation marks the second U.N. Level 2 hospital delivered from the U.S. to Uganda. The first donated hospital played a crucial role during the COVID-19 pandemic, significantly contributing to the Ugandan response and saving thousands of lives, including civilians.

As part of the transfer, soldiers from the Uganda People’s Defence Force participated in intensive training at the Uganda Rapid Deployment Capabilities Center in Jinja, Oct. 14-29. During training, they learned essential skills in setting up, operating, and dismantling the hospital to ensure effective deployment when needed.

“This initiative reflects the United States’ dedication to enhancing health care and humanitarian response capabilities as part of the more than 60-year partnership with the Ugandan people,” U.S. Ambassador William Popp to Uganda said.

The majority of U.S. defense and security cooperation in Uganda supports health programs with a direct impact on Ugandan citizens. While less than 3% of the nearly $1 billion in total U.S. government development and humanitarian assistance to Uganda in 2023, nearly two-thirds of all U.S. security cooperation funds went to health programs, with the rest supporting human rights and legal training as well as peacekeeping efforts in Somalia.

MIL Security OSI –

January 25, 2025

MIL-OSI United Kingdom: Cooking Up More Potential with the Multiply Programme

Source: Northern Ireland City of Armagh

Participants who completed the latest Multiply programme received their certificates and a free airfryer or slow cooker at the final class of their course on Wednesday 23^rd October at Lurgan’s Jethro Centre.

Multiply is an innovative training programme designed to empower individuals who have not yet achieved a GCSE Maths Grade C or above. This course particularly focuses on those for whom English is not a first language, providing tailored support to enhance their mathematical skills and confidence.

Organised by Armagh City, Banbridge and Craigavon Borough Council, and delivered by People 1^st, the course saw 16 participants complete the course which aimed to break down barriers to learning by offering accessible and engaging maths training in a supportive environment. This course also focused on cookery, teaching budgeting skills as well as some healthy recipes.

Lord Mayor of Armagh City, Banbridge and Craigavon, Councillor Sarah Duffy said:

“Maths is a critical skill that opens doors to further education and better job opportunities. Through the various Multiply programmes, the council aims to create a supportive pathway for those who may have faced challenges in the past, ensuring that everyone has the opportunity to succeed.”

One participant, commented: “I’m happy to be here together and have something like this in my life. It was just what we needed, speaking English, and learning, all to have a better life.”

This project was funded by the UK government through the UK Shared Prosperity Fund. This is part of a £5.9m Multiply fund being managed by the Department for the Economy in the north of Ireland.

As only one part of the Council’s Multiply programme, there has been several successful family fun days so far as well as ongoing courses on business finances, preparing for retirement and another budget friendly cookery course. To find out more about the programme, visit: www.armaghbanbridgecraigavon.gov.uk/multiply

MIL OSI United Kingdom –

January 25, 2025

MIL-OSI Russia: Mechanical engineering and technical re-equipment: challenges and opportunities for engineering universities

Translation. Region: Russian Federation –

Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

The XVII scientific and industrial forum “Technical re-equipment of machine-building enterprises of Russia” is held in Yekaterinburg every year. The event brings together more than a thousand participants from the Sverdlovsk region and other federal districts. This time, experts discussed the development of new technologies at machine-building enterprises, personnel training, labor productivity and improving product quality.

As part of the forum, a meeting of the council for work with personnel of the Union of Defense Industry Enterprises of the Sverdlovsk Region and the Sverdlovsk regional branch of the Union of Mechanical Engineers of Russia was held at the High-Tech Technopark.

The forum will last until November 14, thematic sections will work at sites throughout the city. Representatives of mechanical engineering companies, universities, and government bodies will give reports, discuss ideas and proposals.

The section “New Personnel for the Defense Industrial Complex and Mechanical Engineering” brought together representatives of the Sverdlovsk Region government, heads of HR departments of industrial enterprises and representatives of educational and scientific organizations. The main topic was the development and implementation of basic and additional educational programs for training professions that are in short supply for defense industry and mechanical engineering enterprises.

Head of the Directorate of Continuing Education and Industry Partnership Ivan Kurta represented SPbPU. In the report “Development of Human Capital in Partnership with Industry: Polytechnic University Experience in the Interests of the Defense-Industrial and Machine-Building Complexes” Ivan Valentinovich spoke about the training and retraining of personnel, shared the unique experience of the university in designing and implementing educational programs to meet the needs of industrial partners.

Particular interest from participants gave rise to joint projects with corporate universities, in particular, the campus of internal trainers and teachers held in August of this year under the auspices of Gazprom Neft, as well as programs in the field of engineering, the demand for which from the industry is growing every year.

For us, this platform is important in terms of our positioning in the region. The Union of Defense Industry Enterprises of the Sverdlovsk Region and the Sverdlovsk Regional Branch of the Union of Mechanical Engineers of Russia can play a special role in promoting the educational and scientific environment of the Polytechnic University. We plan to discuss joint projects in the near future, said Ivan Kurta.

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

MIL OSI Russia News –

January 25, 2025

MIL-Evening Report: Deaths linked to chatbots show we must urgently revisit what counts as ‘high-risk’ AI

Source: The Conversation (Au and NZ) – By Henry Fraser, Research Fellow in Law, Accountability and Data Science, Queensland University of Technology

De Visu/Shutterstock

Last week, the tragic news broke that US teenager Sewell Seltzer III took his own life after forming a deep emotional attachment to an artificial intelligence (AI) chatbot on the Character.AI website.

As his relationship with the companion AI became increasingly intense, the 14-year-old began withdrawing from family and friends, and was getting in trouble at school.

In a lawsuit filed against Character.AI by the boy’s mother, chat transcripts show intimate and often highly sexual conversations between Sewell and the chatbot Dany, modelled on the Game of Thrones character Danaerys Targaryen. They discussed crime and suicide, and the chatbot used phrases such as “that’s not a reason not to go through with it”.

A screenshot of a chat exchange between Sewell and the chatbot Dany.
‘Megan Garcia vs. Character AI’ lawsuit

This is not the first known instance of a vulnerable person dying by suicide after interacting with a chatbot persona. A Belgian man took his life last year in a similar episode involving Character.AI’s main competitor, Chai AI. When this happened, the company told the media they were “working our hardest to minimise harm”.

In a statement to CNN, Character.AI has stated they “take the safety of our users very seriously” and have introduced “numerous new safety measures over the past six months”.

In a separate statement on the company’s website, they outline additional safety measures for users under the age of 18. (In their current terms of service, the age restriction is 16 for European Union citizens and 13 elsewhere in the world.)

However, these tragedies starkly illustrate the dangers of rapidly developing and widely available AI systems anyone can converse and interact with. We urgently need regulation to protect people from potentially dangerous, irresponsibly designed AI systems.

How can we regulate AI?

The Australian government is in the process of developing mandatory guardrails for high-risk AI systems. A trendy term in the world of AI governance, “guardrails” refer to processes in the design, development and deployment of AI systems. These include measures such as data governance, risk management, testing, documentation and human oversight.

One of the decisions the Australian government must make is how to define which systems are “high-risk”, and therefore captured by the guardrails.

The government is also considering whether guardrails should apply to all “general purpose models”. General purpose models are the engine under the hood of AI chatbots like Dany: AI algorithms that can generate text, images, videos and music from user prompts, and can be adapted for use in a variety of contexts.

In the European Union’s groundbreaking AI Act, high-risk systems are defined using a list, which regulators are empowered to regularly update.

An alternative is a principles-based approach, where a high-risk designation happens on a case-by-case basis. It would depend on multiple factors such as the risks of adverse impacts on rights, risks to physical or mental health, risks of legal impacts, and the severity and extent of those risks.

Chatbots should be ‘high-risk’ AI

In Europe, companion AI systems like Character.AI and Chai are not designated as high-risk. Essentially, their providers only need to let users know they are interacting with an AI system.

It has become clear, though, that companion chatbots are not low risk. Many users of these applications are children and teens. Some of the systems have even been marketed to people who are lonely or have a mental illness.

Chatbots are capable of generating unpredictable, inappropriate and manipulative content. They mimic toxic relationships all too easily. Transparency – labelling the output as AI-generated – is not enough to manage these risks.

Even when we are aware that we are talking to chatbots, human beings are psychologically primed to attribute human traits to something we converse with.

The suicide deaths reported in the media could be just the tip of the iceberg. We have no way of knowing how many vulnerable people are in addictive, toxic or even dangerous relationships with chatbots.

Guardrails and an ‘off switch’

When Australia finally introduces mandatory guardrails for high-risk AI systems, which may happen as early as next year, the guardrails should apply to both companion chatbots and the general purpose models the chatbots are built upon.

Guardrails – risk management, testing, monitoring – will be most effective if they get to the human heart of AI hazards. Risks from chatbots are not just technical risks with technical solutions.

Apart from the words a chatbot might use, the context of the product matters, too. In the case of Character.AI, the marketing promises to “empower” people, the interface mimics an ordinary text message exchange with a person, and the platform allows users to select from a range of pre-made characters, which include some problematic personas.

The front page of the Character.AI website for a user who has entered their age as 17.
C.AI

Truly effective AI guardrails should mandate more than just responsible processes, like risk management and testing. They also must demand thoughtful, humane design of interfaces, interactions and relationships between AI systems and their human users.

Even then, guardrails may not be enough. Just like companion chatbots, systems that at first appear to be low risk may cause unanticipated harms.

Regulators should have the power to remove AI systems from the market if they cause harm or pose unacceptable risks. In other words, we don’t just need guardrails for high risk AI. We also need an off switch.

If this article has raised issues for you, or if you’re concerned about someone you know, call Lifeline on 13 11 14.

Henry Fraser receives funding from the Australian Research Council.

– ref. Deaths linked to chatbots show we must urgently revisit what counts as ‘high-risk’ AI – https://theconversation.com/deaths-linked-to-chatbots-show-we-must-urgently-revisit-what-counts-as-high-risk-ai-242289

MIL OSI Analysis – EveningReport.nz –

January 25, 2025

MIL-OSI United Kingdom: There’s snow place like home

Source: City of Birmingham

Join the Lord Mayor of Birmingham, the Mayor of Frankfurt and German Ambassador to the UK at this year’s official opening of the Frankfurt Christmas Market in Victoria Square on Friday 1 November at 5:30pm, as they switch on the city’s festive lights.

This year the market returns to the city for seven weeks and celebrates its 24th year, featuring 60 festive stalls selling traditional hot gluhwein, schnitzel, spicy sausage, gifts, handcrafted decorations, toys and jewellery.

The big wheel and popular ice rink will also be returning to Centenary Square, and will open from 1 November 2024 until 5 January 2025, between 10:00am and 10:00pm (except on Christmas Day). For more information and to book tickets visit www.iceskatebirmingham.co.uk.

There will also be live performances on the bandstand in Victoria Square with Monday ‘open mic’ sessions giving young, up and coming performers and musicians a chance to showcase their talents. The best two acts will perform in a primetime December slot.

Choirs from local schools, charities and community groups will also feature on the market’s community music programme.

German musicians will perform weekday lunchtimes and evenings daily, with local performers performing between 12pm and 6pm on Saturdays and Sundays.

The market will opens Friday 1 November to Tuesday 24 December 2024.

Mondays to Thursdays: 11:00am to 9:00pm
Fridays: 11:00am to 9:30pm
Saturdays: 10:00am to 9:30pm
Sundays: 10:00am to 9:00pm

The market will be closed until 1:00pm on 10 November for Remembrance Sunday.

Councillor Saima Suleman, Cabinet Member for Digital, Culture, Heritage and Tourism, said: “This year we welcome the 24th Frankfurt Christmas Market to the city, which brings with it a selection of traditional food, drink and gifts.

“The market is an event many look forward to this time year and makes a wonderful festive day out for families.

“We are proud the Christmas market was crowned the best Christmas market in the UK for the second year running which provides a huge economic boost for the city. The market is also ranked eighth in Europe, which usually attracts up to 5 million visitors to the city.”

For more information about the city’s Frankfurt Christmas Market, visit www.thebfcm.co.uk.

MIL OSI United Kingdom –

January 25, 2025

MIL-OSI United Kingdom: Witnesses testify to the abuse Ukrainian civilians suffer in Russian detention: UK statement to the OSCE

Source: United Kingdom – Government Statements

Ambassador Holland shares harrowing details from witness testimony event in London and urges Russia to release all Ukrainian citizens it has arbitrarily detained.

Location:: Vienna
Delivered on:: 31 October 2024 (Transcript of the speech, exactly as it was delivered)

Thank you, Madam Chair. Since Russia’s illegal annexation of Crimea in 2014, its actions in Ukraine have featured widespread reports of arbitrary detention, enforced disappearances, extrajudicial executions of Prisoners of War and civilian detainees, and other serious violations of human rights.

Activists, journalists, community leaders, and those perceived as supportive of Ukrainian sovereignty have faced persecution and illegal detention by Russian forces in the temporarily occupied territories of Ukraine. Many are sent to far-flung regions within the Russian Federation. They are held in prisons, pre-detention centres, and unofficial places of detention. Their families are often denied information about their whereabouts or access to them, causing great distress and an inability to organise effective legal counsel.

Since Russia’s full-scale invasion in 2022, these practices have increased in both frequency and severity, with thousands of Ukrainian civilians held incommunicado and denied their fundamental rights. Independent reports, including the latest Moscow Mechanism, detail inhumane conditions, from physical abuse to psychological coercion.

Madam Chair, these actions constitute violations of international law but behind them lie personal stories of human suffering. This week two Ukrainian civilians, Hryhorii Holovko and Oleksandra Stoliar, shared theirs at an event held in the UK Foreign Commonwealth and Development Office, supported by the Ukrainian NGO, Media Initiative for Human Rights.

Hryhorii Holovko was detained by Russian forces in Kherson in October 2022. Russian forces tortured and intimidated him, including beatings and electric shocks and by carving Russian symbols into his body. Russian guards made threats against his wife and child and forced him to sing the Russian national anthem. Hryhorii was released in May 2023, having been forced to sign papers to align with the Russian state. His story is familiar to many others who have survived Russian occupation.

Oleksandra Stoliar is mother to 26-year-old Iryna Navalnaya who is still being unlawfully detained. Russian forces took Iryna from her home in Mariupol in September 2022. Two months passed before Iryna’s family discovered she was being held in a prison in Donetsk. Women who have been released from this prison have shared accounts of the beatings and other barbaric treatment Iryna has experienced during interrogations, leaving her covered in bruises. They report that detainees are regularly denied access to medical assistance. Iryna’s mother worries continually that she might die in captivity.

These testimonies are just two out of thousands. We recall that three Special Monitoring Mission (SMM) members, our colleagues, are also subjected to this systematic arbitrary detention.

The UK stands in solidarity with them and Ukraine – and reaffirms the urgent need for accountability. We call on Russia to fully cooperate with international mechanisms investigating these abuses, grant immediate access to humanitarian organisations to all facilities where Ukrainian civilians are being held, and uphold its obligations to protect civilians and respect human rights. Russia must release all arbitrarily detained Ukrainian citizens, including Iryna Navalnaya and the SMM members. We call on Russia to end its illegal war and respect the sovereignty and territorial integrity of Ukraine. Thank you.

Published 31 October 2024

Invasion of Ukraine

MIL OSI United Kingdom –

January 25, 2025

MIL-OSI United Kingdom: New light trail to illuminate Derby this Christmas

Source: City of Derby

A magical light trail will illuminate the streets of Derby city centre for the festive season. Derby City Council and the Cathedral Quarter and St Peter’s Quarter Business Improvement Districts (BIDs) have teamed up to create the new attraction.

The Festive Derby Light Trail will see several stunning light installations lead from The Spot all the way to Cathedral Square, taking in the Market Place, where the Cathedral Quarter Ice Rink and Nordic Bar will be situated.

Starting with the beautifully wrapped rings at The Spot, with festive foliage and twinkling lights, the trail will wind its way through the heart of the city. Grab a bite to eat and let the kids enjoy the festive rides before heading down to St Peter’s Cross to see the jolly Rudolph arch, complete with his red nose, and then onto a tunnel of light which will run through Cornmarket.

As you enter the Market Place, the colourfully lit Christmas presents will sit with the Christmas tree as a backdrop and you’ll also find the highlight of the trail – the UK’s largest light-up Santa installation, powered by Tomato Energy. It’ll be the perfect spot for a festive family shot!

A curtain of light will illuminate Irongate up to Cathedral Square, where a giant gold star will sit below the Cathedral.

After all that walking why not enjoy a festive drink in the cosy tipis of our Nordic Bar and then, when you have had time to rest, take a whizz around the ice rink with family and friends. Afterwards you can enjoy food from a variety of food stalls on the Market Place, including loaded fries, grilled sausages, donuts and crepes.

You will be able to find a map of the trail at festivederby.co.uk soon, or download the LoyalFree app to follow the trail – and check in at each location to enter our free prize draw. You can also pick up an activity sheet from the ice rink or Nordic bar for little ones to fill in along the way. You could win a Nintendo Switch, with other prizes including tickets for next year’s Darley Park Weekender, or tickets to enjoy the ice rink or panto in 2025!

Councillor Nadine Peatfield, Leader of Derby City Council, said:

We’re already getting excited about this Christmas in Derby. The new light trail promises to be a magical addition to our packed festive programme. It’ll light the way through the city centre to the Cathedral, providing plenty of fantastic photo opportunities along the way!

Brad Worley, Manager for Cathedral Quarter and St Peter’s Quarter Derby BIDs, added:

The BIDs are thrilled to bring this amazing light installation trail to the city.

There are some truly impressive installations and we hope people will take some memorable photos and share with friends and family, as well as entering the fantastic prize draw. We want people to explore the city and experience what our wonderful businesses have to offer this festive period.

Dominika Walker, Regional Community Engagement Lead for Tomato Energy, said:

At Tomato Energy, we’re lighting up the holiday season in more ways than one! We’re absolutely delighted to support this year’s Festive Derby and proud to sponsor the UK’s largest illuminated Santa.

We hope it will not only bring joy to the community but also spark conversations about efficient energy use during the festive season. It’s our way of spreading holiday cheer while showcasing how cutting-edge technology and sustainability can go hand in hand.

The Cathedral Quarter Ice Rink and Nordic Bar will open on Saturday 30 November, as Festive Derby is officially launched with our Christmas Lights Switch-On event, with our media partner Smooth Radio.

Tickets for the ice rink are on sale now and, of course, the festive season wouldn’t be complete without Derby’s annual panto spectacular at Derby Arena. Morgan Brind and the multi award-winning Little Wolf Entertainment are back with Cinderella from Fri 6 – Tue 31 Dec.

Derby has a great selection of festive events this year and more information can be found at festivederby.co.uk or pick up a guide from November.

Tickets can be purchased on the Derby LIVE website, at the Sales and Information Centre Sales & Information Centre, Guildhall Theatre, Market Place, Derby, DE1 3AE or call 01332 255800.

MIL OSI United Kingdom –

January 25, 2025

MIL-OSI China: Xi signs order to promulgate regulations enhancing reservist management

Source: People’s Republic of China – State Council News

BEIJING, Oct. 31 — Xi Jinping, chairman of the Central Military Commission, has signed a decree to promulgate a set of interim regulations on the management of reserve personnel.

The regulations aim to facilitate the implementation of China’s law on reservists.

The regulations focus on establishing a systematic management structure for reserve personnel in the new era, detailing processes for their selection, rank promotion, role assignments, training, assessments, benefits and retirement from reserve service.

An important outcome of China’s military human resource reform, the promulgation of the regulations marks a key step to improve the legal, standardized and scientific management of reservists and develop a high-caliber, professional reserve force.

MIL OSI China News –

January 25, 2025

MIL-OSI Asia-Pac: Economy grows 1.8% in Q3

Source: Hong Kong Information Services

Hong Kong’s economy grew 1.8% in the third quarter of 2024 over the same period a year earlier, down from a 3.2% increase in the second quarter, the Census & Statistics Department announced today.

According to the advance estimates, gross domestic product (GDP) decreased by 1.1% in real terms in the third quarter of this year on a seasonally adjusted quarter-to-quarter basis.

Private consumption expenditure dropped 1.4% in the third quarter year-on-year, following a decrease of 1.6% in the second quarter. Government consumption expenditure rose 2.1% year-on-year, as against a 2.2% increase in the second quarter.

Gross domestic fixed capital formation increased by 3.7% in the third quarter of this year over a year earlier, following an increase of 4.1% in the preceding quarter.

Over the same period, total goods exports recorded an increase of 3.9% over a year earlier, moderating from a 7.5% increase in the second quarter. Goods imports grew 2.6%, compared with a 3.4% increase in the preceding quarter.

Exports of services rose 2.4% in the third quarter over a year earlier, as against a 1.1% increase in the second quarter. Imports of services climbed by 8.2%, following an increase of 12.3% in the preceding quarter.

The Government said that Hong Kong’s economy continued to expand in the third quarter of 2024 over a year earlier and highlighted that total goods exports saw decelerated year-on-year growth alongside softening economic growth in some major markets.

Looking ahead, it added that the economy should continue to grow in the remainder of the year. In particular, the gradual easing of financial conditions should bode well for fixed asset investment.

A possible easing of the Hong Kong dollar alongside the US dollar, coupled with the central government’s various measures benefitting Hong Kong, the Government’s various initiatives to boost market sentiment, and increasing employment earnings are conducive to spending by both residents and visitors in the domestic market. However, the change in their consumption patterns will continue to pose challenges.

The revised GDP figures for the third quarter of 2024 and a revised forecast for the whole year will be released on November 15.

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: Idea of Sardar Patel for a Strong Bharat Immortalised with Sincere & Renewed effort of Nation Building of PM Narendra Modi Govt: Sarbananda Sonowal

Source: Government of India

Idea of Sardar Patel for a Strong Bharat Immortalised with Sincere & Renewed effort of Nation Building of PM Narendra Modi Govt: Sarbananda Sonowal

Sarbananda Sonowal took Pledge on ‘Rashtriya Ekta Diwas’ as all Organisations of the Ministry of Ports, Shipping & Waterways Virtually Join in to Preserve the Unity, Integrity & Security

Posted On: 31 OCT 2024 2:27PM by PIB Delhi

The Ministry of Ports, Shipping & Waterways (MoPSW), Shri Sarbananda Sonowal celebrated the ‘Rashtriya Ekta Diwas’ (National Unity Day) as all the organisations virtually took the pledge to preserve the unity, integrity and security after the Union Minister read out the pledge along with thousands of colleagues who virtually joined the programme.

Speaking on the occasion, Shri Sonowal said, “The idea of Sardar Vallabh Bhai Patel for a strong Bharat has been immortalised with sincere and renewed effort of Nation Building by the Narendra Modi led government for more than a decade. PM Modi has worked tirelessly to inspire the national consciousness and to use it to unify the country. The ‘Sabka Sath, Sabka Vikas’ philosophy is akin to Sardar Patel’s effort to bring all the princely states to join force for a strong nation. On this strong foundation laid down by the valiant & selfless efforts of Sardar Patel, the country is moving towards realising the idea of ‘Ek Bharat, Shresth Bharat’. The path laid down by Sardar Patel is the one that PM Narendra Modi ji has taken to lead the country towards creating an inclusive development of the country. I offer my homage to this great persona of Sardar Patel for his invaluable contribution towards building a strong nation.”

The event started when the Union Minister Shri Sonowal did ‘Pad Puja’ by offering floral tributes to Sardar Vallabhbhai Patel image at the event.

The event was attended by the Union Minister of State for MoPSW, Shantanu Thakur; the ex-Union Minister of State & MP (Rajya Sabha), Rameswar Teli; the Minister in the Govt of Assam, Jogen Mohan; the Chairman of AIDC & MLA, Dibrugarh, Prasanta Phukan; the MLA of Chabua, Punakan Baruah; the Secretary of MoPWA, T K Ramachandran; the Vice Chancellor of Dibrugarh University, Prof Jiten Hazarika; the Principal, Assam Medical College, Prof Sanjeeb Kakati; the Mayor of Dibrugarh Municipal Corporation (DMC), Dr Saikat Patra; among other dignitaries and people.

*****

NKK/AK

(Release ID: 2069841) Visitor Counter : 62

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: Prime Minister Shri Narendra Modi pays homage to Sardar Vallabhbhai Patel at the Statue of Unity in Kevadia, Gujarat, participates in Rashtriya Ekta Diwas Celebrations

Source: Government of India (2)

Prime Minister Shri Narendra Modi pays homage to Sardar Vallabhbhai Patel at the Statue of Unity in Kevadia, Gujarat, participates in Rashtriya Ekta Diwas Celebrations

Rashtriya Ekta Diwas honours Sardar Patel’s invaluable contributions towards unifying the nation, May this day strengthen the bonds of unity in our society: PM

India is deeply motivated by his vision and unwavering commitment to our nation, His efforts continue to inspire us to work towards a stronger nation:PM

Sardar Patel’s 150th birth anniversary year, starting today, will be celebrated as a festival across the country for the next 2 years, This will further strengthen our resolve of ‘Ek Bharat Shreshta Bharat’: PM

The image of the historic Raigad Fort of Maharashtra is also visible in Ekta Nagar of Kevadia, which has been the sacred land of the values of social justice, patriotism and nation first: PM

Being a true Indian, it is the duty of all of us countrymen to fill every effort for unity of the country with enthusiasm and zeal: PM

In the last 10 years, the new model of good governance in the country has removed every scope for discrimination: PM

In the last few years, India has succeeded in every effort to live with ‘unity in diversity’: PM

Today every citizen of the country is happy that after Seven decades of independence, the resolution of one country, one constitution has been fulfilled: PM

In the last 10 years, we have resolved many issues that were a threat to national unity: PM

Due to our tireless efforts,our tribal brothers and sisters have got development as well as confidence of a better future: PM

Today, we have before us an India which has vision, direction and determination: PM

We have to be very cautious of some people, troubled by India’s growing strength and sense of unity, wanting to break the country and divide the society: PM

Posted On: 31 OCT 2024 1:10PM by PIB Delhi

The Prime Minister, Shri Narendra Modi today participated in the Rashtriya Ekta Diwas celebrations at the Statue of Unity in Kevadia,Gujarat. The Prime Minister offered a floral tribute to Sardar Vallabhbhai Patel on his birth anniversary. Shri Modi also administered the Ekta Diwas pledge and witnessed Ekta Diwas Parade on the occasion of Rashtriya Ekta Diwas which is celebrated every year on October 31to commemorate the birth anniversary of Sardar Vallabhbhai Patel.

The Prime Minister said, “Sardar sahab’s powerful words…this program near the Statue of Unity…this panoramic view of Ekta Nagar…the wonderful performances held here…this glimpse of mini India…everything is so amazing…it is inspiring.” Extending greetings to all the countrymen on National Unity Day, the Prime Minister said that just like 15 August and 26 January, this event on 31 October fills the entire country with new energy.

On the occasion of Diwali the Prime Minister conveyed his wishes to all the Indians living in the country and the world. He noted, this time the National Unity Day has brought a wonderful coincidence of celebrating this festival of unity along with the festival of Deepawali. “Deepawali, through the medium of lamps, connects the whole country, illuminates the whole country. And now the festival of Deepawali is also connecting India with the world”, he added.

The Prime Minister underlined that this year’s Ekta Diwas is more special as Sardar Patel’s 150th birth anniversary year is starting from today. For the next 2 years, the country will celebrate Sardar Patel’s 150th birth anniversary. This is the country’s tribute to his extraordinary contribution to India. The Prime Minister emphasised that this celebration of two years will strengthen our resolve for one India, great India. This occasion will teach us that even the seemingly impossible can be made possible, he added.

Shri Modi underscored how Chhatrapati Shivaji Maharaj united everyone to drive away the invaders. Raigad Fort of Maharashtra still tells that story. Raigad Fort has been the sacred land of the values of social justice, patriotism and nation first, he added. “Chhatrapati Shivaji Maharaj had united the different ideas of the nation for one purpose in the Raigad Fort. Today here in Ekta Nagar, we are seeing the image of that historic fort of Raigad…. Today, in this background, we have united here for the accomplishment of the resolution of a developed India”, the Prime Minister said.

The Prime Minister, Shri Narendra Modi reiterated how India has seen remarkable achievements in strengthening unity and integrity, over the past decade. This commitment is evident in various government initiatives, exemplified by Ekta Nagar and the Statue of Unity. This monument symbolises unity not just in name but also in its construction as it is built with iron and soil gathered from villages nationwide. Ekta Nagar features Ekta Nursery, Vishwa Van with flora from every continent, Children Nutrition Park promoting healthy foods from across India, Arogya Van highlighting Ayurveda from different regions, and Ekta Mall, where handicrafts from around the country are showcased together, the Prime Minister underlined.

The Prime Minister exhorted that being a true Indian, it is the duty of all of us to celebrate every effort towards unity of the country. He underlined that the emphasis on Indian languages under the new National Education Policy, including granting classical status to Marathi, Bengali, Assamese, Pali, and Prakrit, has been warmly welcomed and reinforces national unity. Alongside language, connectivity projects like expanding rail networks to Jammu and Kashmir and the North East, high-speed internet access to Lakshadweep and Andaman-Nicobar, and mobile networks in mountainous areas are bridging rural and urban divides. This modern infrastructure ensures that no region feels left behind, fostering a stronger sense of unity across India.

“Pujya Bapu used to say that our ability to live with unity in diversity will be constantly tested. And we have to keep passing this test at all costs”, the Prime Minister underscored. Shri Modi said that in the last 10 years, India has succeeded in every effort to live with unity in diversity. The government has constantly strengthened the spirit of Ek Bharat, Shreshtha Bharat in its policies and decisions. The Prime Minister lauded other government initiatives, including “One Nation, One Identity” through Aadhaar, and additional efforts to establish “One Nation” models like GST and the National Ration Card, creating a more integrated system that connects all states under a single framework. As part of our efforts for unity, we are now working on One Nation, One Election, One Nation, One Civil Code, i.e. Secular Civil Code”, the Prime Minister added.

Reflecting on ten years of governance, the Prime Minister celebrated the removal of Article 370 in Jammu and Kashmir as a milestone, declaring, “For the first time, the Chief Minister of Jammu and Kashmir took the oath under the Indian Constitution,” calling it a major milestone for India’s unity. He praised the patriotic spirit of the people of Jammu and Kashmir for rejecting separatism and terrorism, and standing by the Constitution and democracy of India.

The Prime Minister detailed other steps taken to address national security and social harmony, noting progress in resolving long-standing conflicts in the Northeast. The PM emphasised how the Bodo Agreement has ended 50 years of conflict in Assam, and the Bru-Reang Agreement allowed thousands of displaced individuals to return home. He underscored the success in diminishing the influence of Naxalism, which he described as“a significant challenge to India’s unity and integrity, saying that due to persistent efforts, Naxalism is now breathing its last.

The Prime Minister highlighted that today’s India has vision, direction and determination. An India which is strong as well as inclusive. Which is sensitive as well as cautious. Which is humble as well as on the path of development. Which understands the importance of both strength and peace. The Prime Minister lauded India’s rapid development amidst global unrest, positioning India as a beacon of peace while maintaining strength. Amidst conflicts in various parts of the world, he said, “India emerges as a global friend.” He also underscored the importance of unity and vigilance, stating that some forces are troubled by India’s progress and aim to harm India’s economic interests and sow divisions. He urged Indians to recognize these divisive elements and safeguard national unity.

As the Prime Minister concluded his address, he quoted Sardar Patel, urging the nation to remain committed to unity. “We must remember that India is a land of diversity. Only by celebrating diversity can unity be strengthened.” ‘‘The next 25 years are very important in terms of unity. Therefore, we should not let this mantra of unity weaken. It is necessary for rapid economic development. It is necessary for social harmony. It is necessary for true social justice, for jobs, for investment,” he said. The Prime Minister called on every citizen to join in strengthening India’s social harmony, economic growth, and commitment to unity.

केवड़िया के एकता नगर में महाराष्ट्र के ऐतिहासिक रायगढ़ किले की छवि भी दिखती है, जो सामाजिक न्याय, देशभक्ति और राष्ट्र प्रथम के संस्कारों की पवित्र भूमि रही है। pic.twitter.com/KucUz2kcLo

— Narendra Modi (@narendramodi) October 31, 2024

एक सच्चे भारतीय होने के नाते यह हम सभी देशवासियों का कर्तव्य है कि हम देश की एकता के हर प्रयास को उत्साह और उमंग से भर दें। pic.twitter.com/NQBm4G3nVa

— Narendra Modi (@narendramodi) October 31, 2024

बीते 10 वर्षों में देश में सुशासन के नए मॉडल ने भेदभाव की हर गुंजाइश को समाप्त किया है। pic.twitter.com/rdysfKz9tn

— Narendra Modi (@narendramodi) October 31, 2024

पिछले कुछ वर्षों में भारत ने ‘विविधता में एकता’ को जीने के हर प्रयास में सफलता पाई है, जिसके ये बड़े उदाहरण हमारे सामने हैं… pic.twitter.com/aocbf3c1vU

— Narendra Modi (@narendramodi) October 31, 2024

आज हर देशवासी इस बात से खुश है कि आजादी के 7 दशक बाद एक देश, एक संविधान का संकल्प पूरा हुआ है। pic.twitter.com/aPMaiizKFj

— Narendra Modi (@narendramodi) October 31, 2024

बीते 10 वर्षों में हमने ऐसे अनेक मुद्दों का समाधान किया है, जो राष्ट्रीय एकता के लिए खतरा थे। pic.twitter.com/W2KXDrLrJS

— Narendra Modi (@narendramodi) October 31, 2024

हमारे अथक प्रयासों से आज आदिवासी भाई-बहनों को विकास भी मिला है और बेहतर भविष्य का विश्वास भी मिला है। pic.twitter.com/dJoBmKZBtH

— Narendra Modi (@narendramodi) October 31, 2024

आज हमारे सामने एक ऐसा भारत है, जिसके पास दृष्टि भी है, दिशा भी है और दृढ़ता भी है। pic.twitter.com/Mqu1NISoPE

— Narendra Modi (@narendramodi) October 31, 2024

भारत के बढ़ते सामर्थ्य और एकता के भाव से परेशान कुछ लोग देश को तोड़ना और समाज को बांटना चाहते हैं। हमें इनसे बहुत सावधान रहना है। pic.twitter.com/ehXoNXRPyI

— Narendra Modi (@narendramodi) October 31, 2024

[embedded content]

***

MJPS/SS/VJ

(Release ID: 2069821) Visitor Counter : 59

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Europe: Written question – Accountability of Airbus in the Privatisation of TAP – E-002221/2024

Source: European Parliament

22.10.2024

Question for written answer E-002221/2024
to the Commission
Rule 144
João Oliveira (The Left)

The Inspectorate-General of Finance of the Portuguese Republic has carried out an audit that points to the participation of Airbus – a European multinational – in an illegal and criminal scheme for financing TAP’s privatisation in 2015.

The same conclusion had already been reached by a Portuguese Parliamentary Committee of Inquiry, whose work was completed a year ago. At that time, the Assembly of the Republic asked the Government to request that the European Union investigate that participation and establish the necessary accountabilities for the difficulties that said participation created for the Portuguese Republic.

In the meantime, the Portuguese Prime Minister has informed the Assembly of the Republic that the Government has not taken ‘any steps’ to implement that resolution of the Assembly of the Republic. This was a regrettable choice, but one that only serves to hold accountable those to made it (the last two Portuguese governments).

But the question was already referred directly to the European Commission (questions E-001889/2023[1] and P-002436/2023[2]), so we are asking again:

1.Has the European Commission already carried out an assessment of the role played by Airbus in the privatisation process of TAP, in 2015, and its accountability for the damage caused to the Portuguese Republic by that privatisation?
2.If so, what are the results of that assessment? If not, why has no assessment been carried out?

Submitted: 22.10.2024

[1] https://www.europarl.europa.eu/doceo/document/E-9-2023-001889_EN.html
[2] https://www.europarl.europa.eu/doceo/document/P-9-2023-002436_EN.html

Last updated: 31 October 2024

MIL OSI Europe News –

January 25, 2025

MIL-OSI Europe: Written question – Commission’s policy on antisemitism and the IHRA working definition of antisemitism – P-002324/2024

Source: European Parliament

30.10.2024

Priority question for written answer P-002324/2024
to the Commission
Rule 144
Matjaž Nemec (S&D)

In its activities tackling antisemitism, the Commission says it regards the International Holocaust Remembrance Alliance (IHRA) working definition of antisemitism as ‘the benchmark’ and cooperates with the Israeli Government, including in the EU-Israel High Level Seminar on combating racism, xenophobia and antisemitism.

1.In view of a recent study[1] revealing that the Commission had misrepresented the results of a 2018 key survey by the EU Agency for Fundamental Rights (FRA) with regard to the IHRA definition of antisemitism, can the Commission confirm it will henceforth refrain from such misrepresentations, in line with its declared commitment to evidence-based policymaking, also when addressing the most recent FRA survey, published in July 2024?
2.Recalling an earlier statement by Commission Coordinator on combating antisemitism Katharina von Schnurbein, which denied that the EU is conditioning its funding based on the IHRA definition of antisemitism[2], can the Commission confirm it does not and will not apply any IHRA definition-based funding conditionality when granting and controlling EU funding?
3.How does the Commission address and counter the escalating political instrumentalisation of antisemitism by Israeli Prime Minister Benjamin Netanyahu and government ministers targeting, among others, the UN Secretary-General and UN human rights bodies, the International Criminal Court and the International Court of Justice?

Submitted: 30.10.2024

[1] European Middle East Project, ‘Does the IHRA working definition of antisemitism reflect the views of most European Jews? An assessment of the evidence from the 2018 survey of the EU Fundamental Rights Agency (FRA)’, July 2024, https://archive.jpr.org.uk/object-4216.
[2] https://x.com/kschnurbein/status/1600847328449277952.

Last updated: 31 October 2024

MIL OSI Europe News –

January 25, 2025

MIL-OSI Africa: TB in Africa: global report shows successes, but Nigeria and DRC remain important hotspots

Source: The Conversation – Africa – By Tom Nyirenda, Extraordinary Senior Lecture in the Department of Global Health, Stellenbosch University

The World Health Organization’s 2024 Global Tuberculosis report reveals a sobering reality. Formidable challenges remain in the fight against the world’s most infectious disease: persistent poverty in high burden countries; increased rates of infection among vulnerable populations; the inability to find and treat all missing cases; and funding shortfalls.

The WHO’s report measures progress in two ways: the number of TB-related deaths, and the number of people who become ill. There is still a long battle ahead to eradicate a disease that results in over 10 million patients among those already infected and claims around 1.5 million lives each year. This even though it is preventable and curable.

The good news is that some countries in Africa have made significant progress in reducing infection rates and TB-related deaths.

Global health specialist Tom Nyirenda assesses some of the report’s key findings and messages.

Tackling poverty beats TB

In 2023, an estimated 10.8 million people fell ill with TB worldwide, including 6.0 million men, 3.6 million women and 1.3 million children. This is slightly more than the 10.6 million people recorded in 2022.

TB can be defeated because we have good diagnostic tools and effective treatment for the commonest forms of the disease. Global funding, which is critical in fighting TB, is not yet up to the scale that is required to stop the disease. Only 26% of the funding committed by global partners to TB prevention, diagnostic and treatment services has materialised so far.

Good diagnostic tools and treatment aren’t the panacea. Almost 87% of TB cases are from 30 high burden poor countries of the world. Slow or lack of economic progress of affected populations is one of the greatest challenges the world continues to face.

TB-related deaths

On the positive side, progress has been made in reducing TB related deaths in the Africa region. The continent saw the biggest drop in TB related deaths since 2015 of all six regions – 42%. The European region came next with TB deaths down by 38% in the same period.

When it comes to TB infections the WHO African and European regions have made the most progress: a reduction of 24% in Africa and 27% in Europe.

One of the main reasons for the success in Africa has been progress in treating HIV patients. This is because TB is one of the most common opportunistic infections among patients with HIV. (Opportunistic infections occur more often or are more severe in people with weakened immune systems.)

Before antiretrovirals transformed treatment for HIV patients, the African continent had the highest TB-HIV co-infection rates in the world. High mortality was experienced among co-infected patients.

At one stage HIV prevalence among TB patients was estimated to be as high as 90% in some areas of sub-Saharan Africa.

Treating co-infected patients with antiretrovirals has contributed significantly to the drop in TB-related cases and deaths on the continent.

Some countries have increased TB screening among vulnerable groups such as children and those who live in confined areas, such as prisoners and displaced people.

Mixed bag of infection rates

Successes within the African region vary from country to country.

For example Nigeria and the Democratic Republic of Congo are among eight countries that accounted for about two-thirds of the global number of people estimated to have developed TB in 2023. Nigeria has 4.6% of the global new cases and the DRC has 3.1%.

It’s noteworthy that both countries have high levels of poverty; they are vast, with huge populations; and their health services are limited compared to the scale of disease burdens they face.

Sometimes increases in reported cases are not a bad thing. They can be due to improved case finding or better diagnostic procedures. But vigilance is required to maintain the drive towards achievement of global targets.

Barriers to seeking treatment

Families of TB sufferers often have to bear costs such as for medications, special foods, transport, and a loss of income.

Such expenses sometimes discourage TB sufferers from seeking treatment.

The WHO global report estimates families in many countries in Africa are among those facing “catastrophic total costs” as a result of members becoming ill with TB. This is when direct and indirect costs account for more than 20% of a family’s annual household income. The countries where this is the case include Niger, Ghana, Burkina Faso, Tanzania and South Africa.

A billboard warns locals about the dangers of tuberculosis in Dire Dawa, Ethiopia. Getty Images.

Vaccine race

The only vaccine against TB, the Bacillus Calmette-Guérin vaccine, has been used for more than 100 years. It is largely effective for children under five, but less so in older people. And it can’t be used on patients who have certain medical conditions.

Development of vaccines is a lengthy and costly exercise. Only one-fifth of the finance necessary for research has been forthcoming to date.

The good news is that of all infectious diseases TB is probably the one that has the most vaccine candidates in the pipeline (about 17). There are currently six vaccine candidates for adults in phase III trials. They could be available within the next five years.

Beating the disease will require an effective primary or recurrent TB prevention vaccine or a therapeutic vaccine for those already infected with the TB bacteria but who have not yet developed the disease.

Future threats

Climate change will affect food security and nutrition, essential for recovery from TB, and also diverting TB resources to epidemics and pandemics associated with it.

Human conflict, migration and displacement are other threats that world faces that will hinder TB infection control and treatment.

There is also the urgent need to tackle drug-resistant tuberculosis.

These dangers strengthen the case for multi-sectoral collaboration to share rare resources and strive for a meaningful impact. The speed at which COVID-19 vaccines were developed in the middle of a pandemic and global lockdowns shows this is possible in better and worse times.

What needs to be done

Without government support the war against TB will never be won. Every country and every community is different. It is therefore essential that locally relevant economic research is conducted in every situation to guide policies that reduce the economic burden of TB on communities. Generated evidence should guide policy and practice. Above all good financing should be mobilised, with governments leading the course.

– TB in Africa: global report shows successes, but Nigeria and DRC remain important hotspots
– https://theconversation.com/tb-in-africa-global-report-shows-successes-but-nigeria-and-drc-remain-important-hotspots-242489

MIL OSI Africa –

January 25, 2025

MIL-OSI: OTC Markets Group Welcomes Brazilian Rare Earths Ltd. to OTCQX

Source: GlobeNewswire (MIL-OSI)

NEW YORK, Oct. 31, 2024 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Brazilian Rare Earths Ltd. (ASX: BRE; OTCQX: BRETF, BRELY), an Australian exploration and mining company, has qualified to trade on the OTCQX® Best Market. Brazilian Rare Earths Ltd. upgraded to OTCQX from the Pink® market.

Brazilian Rare Earths Ltd. begins trading today on OTCQX under the symbol “BRETF, BRELY.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

Viriathus Capital LLC served as Brazilian Rare Earths Ltd’s advisor.

“We are thrilled to see our shares and ADRs now trading on the OTCQX market. This quotation broadens our investor base and offers U.S. investors enhanced access to participate in our growth story as we advance our world-class rare earth projects. The increased visibility and liquidity on the OTCQX will accelerate our progress towards developing a leading global supplier of critical rare earth elements.”

About Brazilian Rare Earths Ltd.
Brazilian Rare Earths is a critical minerals development company that controls the world-class Rocha da Rocha rare earth province in Bahia, Brazil. Brazilian Rare Earths’ flagship project, Monte Alto, contains some of the highest rare earth grades ever reported globally, along with high concentrations of uranium, niobium, tantalum, and scandium.

The Monte Alto project is strategically positioned to be an important future source of critical minerals, with the project containing 18 of the 50 critical minerals identified by the U.S. government as essential to economic and national security. Brazilian Rare Earths aims to become a leading global supplier of these critical materials, supporting industries such as renewable energy, electric vehicles, advanced robotics, and defence technologies.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

Subscribe to the OTC Markets RSS Feed

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

The MIL Network –

January 25, 2025

MIL-OSI: Allegro MicroSystems Reports Second Quarter 2025 Results

Source: GlobeNewswire (MIL-OSI)

MANCHESTER, N.H., Oct. 31, 2024 (GLOBE NEWSWIRE) — Allegro MicroSystems, Inc. (“Allegro” or the “Company”) (Nasdaq: ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced financial results for its second quarter ended September 27, 2024.

“We delivered results in-line with our commitments. Second quarter sales were $187 million, with sequential growth in both Automotive and Industrial and Other end markets. Non-GAAP EPS was $0.08, at the high end of our outlook,” said Vineet Nargolwala, President and CEO of Allegro. “We are encouraged by the continued demand for our differentiated solutions and the progress made by our customers and partners to rebalance their inventories. We continue to invest for growth to extend our market leadership. The accelerating pace of our new product introductions, as evidenced by our latest product releases, sets the stage for significant growth momentum in the near future.”

Second Quarter Financial Highlights:

In thousands, except per share data	Three-Month Period Ended									Six-Month Period Ended
	September 27, 2024			June 28, 2024			September 29, 2023			September 27, 2024			September 29, 2023
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
Net Sales
Automotive	$	141,893		$	131,184		$	197,321		$	273,077		$	382,751
Industrial and other		45,498			35,735			78,188			81,233			171,051
Total net sales	$	187,391		$	166,919		$	275,509		$	354,310		$	553,802
GAAP Financial Measures
Gross margin %		45.7	%		44.8	%		57.9	%		45.3	%		57.3	%
Operating margin %		2.2	%		(6.4	)%		26.5	%		(1.9	)%		25.9	%
Diluted EPS	$	(0.18	)	$	(0.09	)	$	0.34		$	(0.27	)	$	0.65
Non-GAAP Financial Measures
Gross margin %		48.8	%		48.8	%		58.3	%		48.8	%		58.1	%
Operating margin %		11.7	%		6.0	%		31.3	%		9.0	%		31.0	%
Diluted EPS	$	0.08		$	0.03		$	0.40		$	0.11		$	0.79

Business Outlook

For the third quarter of fiscal year 2025 ending December 27, 2024, the Company expects net sales to be in the range of $170 million to $180 million. This outlook comprehends continued progress toward vehicle electrification and ongoing inventory rebalancing as reflected in the latest third-party estimates, as well as typical December quarter seasonality. The Company also estimates the following results on a non-GAAP basis:

Gross Margin is expected to be between 49% and 51%,

The Company made a voluntary $25 million payment on its term loan facility on October 31, 2024 and now expects Interest Expense to be approximately $6 million, and

Diluted Earnings per Share are expected to be between $0.04 and $0.08.

Allegro has not provided a reconciliation of its third fiscal quarter outlook for non-GAAP Gross Margin, non-GAAP Interest Expense, and non-GAAP Diluted Earnings per Share because estimates of all of the reconciling items cannot be provided without unreasonable efforts. It is difficult to reasonably provide a forward-looking estimate between such forward-looking non-GAAP measures and the comparable forward-looking U.S. generally accepted accounting principles (“GAAP”) measures. Certain factors that are materially significant to Allegro’s ability to estimate these items are out of its control and/or cannot be reasonably predicted.

Earnings Webcast

A webcast will be held on Thursday, October 31, 2024 at 8:30 a.m., Eastern Time. Vineet Nargolwala, President and Chief Executive Officer, and Derek P. D’Antilio, Executive Vice President and Chief Financial Officer, will discuss Allegro’s business and financial results.

The webcast will be available on the Investor Relations section of the Company’s website at investors.allegromicro.com. A recording of the webcast will be posted in the same location shortly after the call concludes and will be available for at least 90 days.

About Allegro MicroSystems

Allegro MicroSystems is a leading global designer, developer, fabless manufacturer and marketer of sensor integrated circuits (“ICs”) and application-specific analog power ICs enabling emerging technologies in the automotive and industrial markets. Allegro’s diverse product portfolio provides efficient and reliable solutions for the electrification of vehicles, automotive ADAS safety features, automation for Industry 4.0 and power saving technologies for data centers and clean energy applications.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this press release including statements regarding our future results of operations and financial position, business strategy, prospective products and the plans and objectives of management for future operations, including, among others, statements regarding the liquidity, growth and profitability strategies and factors affecting our business are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

Without limiting the foregoing, in some cases, you can identify forward-looking statements by terms such as “aim,” “may,” “will,” “should,” “expect,” “exploring,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “would,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” “seek,” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. No forward-looking statement is a guarantee of future results, performance or achievements, and one should avoid placing undue reliance on such statements.

Forward-looking statements are based on our management’s current expectations, beliefs and assumptions and on information currently available to us. Such beliefs and assumptions may or may not prove to be correct. Additionally, such forward-looking statements are subject to a number of known and unknown risks, uncertainties and assumptions, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to, those identified in Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and Part I, Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the year ended March 29, 2024, as any such factors may be updated from time to time in our Quarterly Reports on Form 10-Q and our other filings with the Securities and Exchange Commission (the “SEC”). These risks and uncertainties include, but are not limited to: downturns or volatility in general economic conditions; our ability to compete effectively, expand our market share and increase our net sales and profitability; our reliance on a limited number of third-party semiconductor wafer fabrication facilities and suppliers of other materials; any failure to adjust purchase commitments and inventory management based on changing market conditions or customer demand; shifts in our product mix, customer mix or channel mix, which could negatively impact our gross margin; the cyclical nature of the semiconductor industry, including the analog segment in which we compete; any downturn or disruption in the automotive market or industry; our ability to successfully integrate the acquisition of other companies or technologies and products into our business; our ability to compensate for decreases in average selling prices of our products and increases in input costs; our ability to manage any sustained yield problems or other delays at our third-party wafer fabrication facilities or in the final assembly and test of our products; our ability to accurately predict our quarterly net sales and operating results and meet the expectations of investors; our dependence on manufacturing operations in the Philippines; our reliance on distributors to generate sales; events beyond our control impacting us, our key suppliers or our manufacturing partners; our ability to develop new product features or new products in a timely and cost-effective manner; our ability to manage growth; any slowdown in the growth of our end markets; the loss of one or more significant customers; our ability to meet customers’ quality requirements; uncertainties related to the design win process and our ability to recover design and development expenses and to generate timely or sufficient net sales or margins; changes in government trade policies, including the imposition of export restrictions and tariffs; our exposures to warranty claims, product liability claims and product recalls; our dependence on international customers and operations; the availability of rebates, tax credits and other financial incentives on end-user demands for certain products; risks, liabilities, costs and obligations related to governmental regulations and other legal obligations, including export/trade control, privacy, data protection, information security, cybersecurity, consumer protection, environmental and occupational health and safety, antitrust, anti-corruption and anti-bribery, product safety, environmental protection, employment matters and tax; the volatility of currency exchange rates; our ability to raise capital to support our growth strategy; our indebtedness may limit our flexibility to operate our business; our ability to effectively manage our growth and to retain key and highly skilled personnel; our ability to protect our proprietary technology and inventions through patents or trade secrets; our ability to commercialize our products without infringing third-party intellectual property rights; disruptions or breaches of our information technology systems or confidential information or those of our third-party service providers; our principal stockholders has substantial control over us; anti-takeover provisions in our organizational documents and under the General Corporation Law of the State of Delaware; any failure to design, implement or maintain effective internal control over financial reporting; changes in tax rates or the adoption of new tax legislation; the negative impacts of sustained inflation on our business; the physical, transition and litigation risks presented by climate change; and other events beyond our control. Moreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties.

You should read this press release and the documents that we reference completely and with the understanding that our actual future results may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements. All forward-looking statements speak only as of the date of this press release, and except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events, changed circumstances or otherwise.

This press release includes certain non-GAAP financial measures as defined by the SEC rules. These non-GAAP financial measures are provided in addition to, and not as a substitute for or superior to measures of, financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of the presented non-GAAP financial measures as tools for comparison.

This press release may not be reproduced, forwarded to any person or published, in whole or in part.


ALLEGRO MICROSYSTEMS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share and per share amounts) (Unaudited)

	Three-Month Period Ended					Six-Month Period Ended
	September 27, 2024			September 29, 2023		September 27, 2024			September 29, 2023
Net sales	$	187,391		$	275,509	$	354,310		$	553,802
Cost of goods sold		101,729			116,006		193,877			236,349
Gross profit		85,662			159,503		160,433			317,453
Operating expenses:
Research and development		43,510			43,428		88,714			86,403
Selling, general and administrative		38,085			43,160		78,282			87,389
Total operating expenses		81,595			86,588		166,996			173,792
Operating income (loss)		4,067			72,915		(6,563	)		143,661
Interest and other (expense) income		(12,398	)		156		(18,341	)		(2,486	)
Loss on change in fair value of forward repurchase contract		(34,752	)		—		(34,752	)		—
(Loss) income before income taxes		(43,083	)		73,071		(59,656	)		141,175
Income tax (benefit) provision		(9,470	)		7,400		(8,430	)		14,615
Net (loss) income		(33,613	)		65,671		(51,226	)		126,560
Net income attributable to non-controlling interests		62			54		124			93
Net (loss) income attributable to Allegro MicroSystems, Inc.	$	(33,675	)	$	65,617	$	(51,350	)	$	126,467
Net (loss) income per common share attributable to Allegro MicroSystems, Inc.:
Basic	$	(0.18	)	$	0.34	$	(0.27	)	$	0.66
Diluted	$	(0.18	)	$	0.34	$	(0.27	)	$	0.65
Weighted average shares outstanding:
Basic		189,182,850			192,431,094		191,324,281			192,214,210
Diluted		189,182,850			195,100,855		191,324,281			195,055,495

Supplemental Schedule of Total Net Sales

The following table summarizes total net sales by market within the Company’s unaudited condensed consolidated statements of operations:

	Three-Month Period Ended				Change						Six-Month Period Ended				Change
	September 27, 2024		September 29, 2023		Amount			%			September 27, 2024		September 29, 2023		Amount			%
	(Dollars in thousands)										(Dollars in thousands)
Automotive	$	141,893	$	197,321	$	(55,428	)		(28	)%	$	273,077	$	382,751	$	(109,674	)		(29	)%
Industrial and other		45,498		78,188		(32,690	)		(42	)%		81,233		171,051		(89,818	)		(53	)%
Total net sales	$	187,391	$	275,509	$	(88,118	)		(32	)%	$	354,310	$	553,802	$	(199,492	)		(36	)%


ALLEGRO MICROSYSTEMS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands)

	September 27, 2024			March 29, 2024
	(Unaudited)
Assets
Current assets:
Cash and cash equivalents	$	188,751		$	212,143
Restricted cash		10,287			10,018
Trade accounts receivable, net		76,985			118,508
Inventories		176,648			162,302
Prepaid income taxes		38,636			31,908
Prepaid expenses and other current assets		32,253			33,584
Current portion of related party notes receivable		—			3,750
Total current assets		523,560			572,213
Property, plant and equipment, net		325,051			321,175
Deferred income tax assets		61,839			54,496
Goodwill		203,151			202,425
Intangible assets, net		266,753			276,854
Related party notes receivable, less current portion		—			4,688
Equity investment in related party		30,186			26,727
Other assets		81,577			72,025
Total assets	$	1,492,117		$	1,530,603
Liabilities, Non-Controlling Interests and Stockholders’ Equity
Current liabilities:
Trade accounts payable	$	50,245		$	35,964
Amounts due to related party		5,546			1,626
Accrued expenses and other current liabilities		62,742			76,389
Current portion of long-term debt		5,475			3,929
Total current liabilities		124,008			117,908
Long-term debt		396,056			249,611
Other long-term liabilities		33,345			31,368
Total liabilities		553,409			398,887
Commitments and contingencies
Stockholders’ Equity:
Preferred stock		—			—
Common stock		1,840			1,932
Additional paid-in capital		993,988			694,332
(Accumulated deficit) retained earnings		(31,931	)		463,012
Accumulated other comprehensive loss		(26,583	)		(28,841	)
Equity attributable to Allegro MicroSystems, Inc.		937,314			1,130,435
Non-controlling interests		1,394			1,281
Total stockholders’ equity		938,708			1,131,716
Total liabilities, non-controlling interests and stockholders’ equity	$	1,492,117		$	1,530,603


ALLEGRO MICROSYSTEMS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (Unaudited)

	Three-Month Period Ended						Six-Month Period Ended
	September 27, 2024			September 29, 2023			September 27, 2024			September 29, 2023
Cash flows from operating activities:
Net (loss) income	$	(33,613	)	$	65,671		$	(51,226	)	$	126,560
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization		15,997			15,080			32,455			29,353
Amortization of deferred financing costs		306			73			1,087			107
Deferred income taxes		(2,796	)		(9,772	)		(7,795	)		(18,134	)
Stock-based compensation		11,545			10,877			21,663			21,919
Loss on change in fair value of forward repurchase contract		34,752			—			34,752			—
Provisions for inventory and expected credit losses		2,111			4,239			4,488			9,422
Change in fair value of marketable securities		—			(72	)		—			3,579
Other non-cash reconciling items		6,563			43			6,577			43
Changes in operating assets and liabilities:
Trade accounts receivable		(13,717	)		2,676			41,417			(7,645	)
Inventories		(2,845	)		(3,274	)		(18,831	)		(31,221	)
Prepaid expenses and other assets		(14,093	)		(6,253	)		(15,808	)		(16,453	)
Trade accounts payable		13,470			(15,736	)		13,670			2,695
Due to and from related parties		695			(3,990	)		4,132			6,112
Accrued expenses and other current and long-term liabilities		(2,828	)		(12,832	)		(16,838	)		(29,944	)
Net cash provided by operating activities		15,547			46,730			49,743			96,393
Cash flows from investing activities:
Purchases of property, plant and equipment		(9,972	)		(31,191	)		(20,949	)		(76,101	)
Sales of marketable securities		—			6,204			—			16,175
Net cash used in investing activities		(9,972	)		(24,987	)		(20,949	)		(59,926	)
Cash flows from financing activities:
Loan made to affiliate		—			(4,000	)		—			(4,000	)
Net proceeds from Refinanced 2023 Term Loan Facility		193,483			—			193,483			—
Payment of borrowings under 2023 Term Loan Facility		—			—			(50,000	)		—
Finance lease payments		(240	)		—			(385	)		—
Receipts on related party notes receivable		937			937			1,875			1,875
Payments for taxes related to net share settlement of equity awards		(1,126	)		(1,669	)		(12,297	)		(14,091	)
Proceeds from issuance of common stock under employee stock purchase plan		1,987			—			1,987			1,899
Repurchases of common stock		(853,805	)		—			(853,805	)		—
Net proceeds from issuance of common stock		665,850			—			665,850			—
Payment of debt issuance costs		—			—			—			(1,450	)
Net cash provided by (used in) financing activities		7,086			(4,732	)		(53,292	)		(15,767	)
Effect of exchange rate changes on cash and cash equivalents and restricted cash		2,200			(901	)		1,375			(974	)
Net increase (decrease) in cash and cash equivalents and restricted cash		14,861			16,110			(23,123	)		19,726
Cash and cash equivalents and restricted cash at beginning of period		184,177			362,321			222,161			358,705
Cash and cash equivalents and restricted cash at end of period:	$	199,038		$	378,431		$	199,038		$	378,431

Non-GAAP Financial Measures

In addition to the measures presented in our condensed consolidated financial statements, we regularly review other measures, defined as non-GAAP Financial Measures by the SEC, to evaluate our business, measure our performance, identify trends, prepare financial forecasts and make strategic decisions. The key measures we consider are non-GAAP Gross Profit, non-GAAP Gross Margin, non-GAAP Operating Expenses, non-GAAP Operating Income, non-GAAP Operating Margin, EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP Profit before Tax, non-GAAP Income Tax Provision, non-GAAP Effective Tax Rate, non-GAAP Net Income Attributable to Allegro MicroSystems, Inc, non-GAAP Basic and Diluted Earnings per Share, non-GAAP Free Cash Flow, and non-GAAP Free Cash Flow as percentage of net sales (collectively, the “Non-GAAP Financial Measures”). These Non-GAAP Financial Measures provide supplemental information regarding our operating performance on a non-GAAP basis that excludes certain gains, losses and charges of a non-cash nature or that occur relatively infrequently and/or that management considers to be unrelated to our core operations, and in the case of non-GAAP Income Tax Provision, management believes that this non-GAAP measure of income taxes provides it with the ability to evaluate the non-GAAP Income Tax Provision across different reporting periods on a consistent basis, independent of special items and discrete items, which may vary in size and frequency. These Non-GAAP Financial Measures are used by both management and our board of directors, together with the comparable GAAP information, in evaluating our current performance and planning our future business activities.

The Non-GAAP Financial Measures are supplemental measures of our performance that are neither required by, nor presented in accordance with, GAAP. These Non-GAAP Financial Measures should not be considered as substitutes for GAAP Financial Measures, such as gross profit, gross margin, net income or any other performance measures derived in accordance with GAAP. Also, in the future we may incur expenses or charges, such as those being adjusted in the calculation of these Non-GAAP Financial Measures. Our presentation of these Non-GAAP Financial Measures should not be construed as an inference that future results will be unaffected by unusual or nonrecurring items. These Non-GAAP Financial Measures exclude costs related to acquisition and related integration expenses, amortization of acquired intangible assets, stock-based compensation, restructuring actions, related party activities and other non-operational costs.

Non-GAAP Income Tax Provision

In calculating non-GAAP Income Tax Provision, we have added back the following to GAAP Income Tax Provision:

Tax effect of adjustments to GAAP results—Represents the estimated income tax effect of the adjustments to non-GAAP Profit before Tax described below and elimination of discrete tax adjustments.


*Reconciliation of Non-GAAP Gross Profit and Non-GAAP Gross Margin*

	Three-Month Period Ended									Six-Month Period Ended
	September 27, 2024			June 28, 2024			September 29, 2023			September 27, 2024			September 29, 2023
	(Dollars in thousands)									(Dollars in thousands)
GAAP Gross Profit	$	85,662		$	74,771		$	159,503		$	160,433		$	317,453
GAAP Gross Margin (% of net sales)		45.7	%		44.8	%		57.9	%		45.3	%		57.3	%

Non-GAAP adjustments
Transaction-related costs		10			(1	)		—			9			—
Purchased intangible amortization		4,875			4,875			273			9,750			675
Restructuring costs		16			1,200			—			1,216			—
Stock-based compensation		817			561			946			1,378			3,552
Total Non-GAAP Adjustments	$	5,718		$	6,635		$	1,219		$	12,353		$	4,227

Non-GAAP Gross Profit	$	91,380		$	81,406		$	160,722		$	172,786		$	321,680
Non-GAAP Gross Margin (% of net sales)		48.8	%		48.8	%		58.3	%		48.8	%		58.1	%


*Reconciliation of Non-GAAP Operating Expenses*

	Three-Month Period Ended							Six-Month Period Ended
	September 27, 2024			June 28, 2024		September 29, 2023		September 27, 2024			September 29, 2023
	(Dollars in thousands)							(Dollars in thousands)
GAAP Operating Expenses	$	81,595		$	85,401	$	86,588	$	166,996		$	173,792

Research and Development Expenses
GAAP Research and Development Expenses		43,510			45,204		43,428		88,714			86,403
Non-GAAP adjustments
Transaction-related costs		206			1,029		2		1,235			9
Restructuring costs		260			169		—		429			—
Stock-based compensation		3,523			3,735		3,602		7,258			6,470
Other costs⁽¹⁾		3			—		—		3			—
Non-GAAP Research and Development Expenses		39,518			40,271		39,824		79,789			79,924

Selling, General and Administrative Expenses
GAAP Selling, General and Administrative Expenses		38,085			40,197		43,160		78,282			87,389
Non-GAAP adjustments
Transaction-related costs		275			814		1,804		1,089			4,876
Purchased intangible amortization		535			535		357		1,070			715
Restructuring costs		2,046			1,045		—		3,091			—
Stock-based compensation		7,205			5,822		6,329		13,027			11,897
Other costs⁽¹⁾		(1,820	)		811		100		(1,009	)		100
Non-GAAP Selling, General and Administrative Expenses		29,844			31,170		34,570		61,014			69,801

Total Non-GAAP Adjustments		12,233			13,960		12,194		26,193			24,067

Non-GAAP Operating Expenses	$	69,362		$	71,441	$	74,394	$	140,803		$	149,725

(1) Included in non-GAAP other costs are non-recurring charges that are individually immaterial for separate disclosure, such as project evaluation costs, which consist of costs and estimated costs incurred in connection with debt and equity financings or other non-recurring transactions.


*Reconciliation of Non-GAAP Operating Income and Non-GAAP Operating Margin*

	Three-Month Period Ended									Six-Month Period Ended
	September 27, 2024			June 28, 2024			September 29, 2023			September 27, 2024			September 29, 2023
	(Dollars in thousands)									(Dollars in thousands)
GAAP Operating Income (Loss)	$	4,067		$	(10,630	)	$	72,915		$	(6,563	)	$	143,661
GAAP Operating Margin (% of net sales)		2.2	%		(6.4	)%		26.5	%		(1.9	)%		25.9	%

Transaction-related costs		491			1,842			1,806			2,333			4,885
Purchased intangible amortization		5,410			5,410			630			10,820			1,390
Restructuring costs		2,322			2,414			—			4,736			—
Stock-based compensation		11,545			10,118			10,877			21,663			21,919
Other costs⁽¹⁾		(1,817	)		811			100			(1,006	)		100
Total Non-GAAP Adjustments	$	17,951		$	20,595		$	13,413		$	38,546		$	28,294

Non-GAAP Operating Income	$	22,018		$	9,965		$	86,328		$	31,983		$	171,955
Non-GAAP Operating Margin (% of net sales)		11.7	%		6.0	%		31.3	%		9.0	%		31.0	%

(1) Included in non-GAAP other costs are non-recurring charges that are individually immaterial for separate disclosure such as project evaluation costs, which consist of costs and estimated costs incurred in connection with debt and equity financings or other non-recurring transactions.


*Reconciliation of EBITDA and Adjusted EBITDA*

	Three-Month Period Ended									Six-Month Period Ended
	September 27, 2024			June 28, 2024			September 29, 2023			September 27, 2024			September 29, 2023
	(Dollars in thousands)									(Dollars in thousands)
GAAP Net (Loss) Income	$	(33,613	)	$	(17,613	)	$	65,671		$	(51,226	)	$	126,560
GAAP Net (Loss) Income Margin (% of net sales)		(17.9	)%		(10.6	)%		23.8	%		(14.5	)%		22.9	%

Interest expense		10,353			5,377			758			15,730			1,527
Interest income		(420	)		(494	)		(850	)		(914	)		(1,693	)
Income tax (benefit) provision		(9,470	)		1,040			7,400			(8,430	)		14,615
Depreciation & amortization		15,997			16,458			15,145			32,455			29,418
EBITDA	$	(17,153	)	$	4,768		$	88,124		$	(12,385	)	$	170,427

Transaction-related costs		3,295			1,842			1,806			5,137			4,885
Restructuring costs		2,067			2,414			—			4,481			—
Stock-based compensation		11,545			10,118			10,877			21,663			21,919
Loss on change in fair value of forward repurchase contract		34,752			—			—			34,752			—
Other costs⁽¹⁾		(2,195	)		2,807			1,301			612			5,890
Adjusted EBITDA	$	32,311		$	21,949		$	102,108		$	54,260		$	203,121
Adjusted EBITDA Margin (% of net sales)		17.2	%		13.1	%		37.1	%		15.3	%		36.7	%

(1) Included in non-GAAP other costs are non-recurring charges that are individually immaterial for separate disclosure such as project evaluation costs, which consist of costs and estimated costs incurred in connection with debt and equity financings or other non-recurring transactions and income (loss) in earnings of equity investments.


*Reconciliation of Non-GAAP Profit before Tax*

	Three-Month Period Ended								Six-Month Period Ended
	September 27, 2024			June 28, 2024			September 29, 2023		September 27, 2024			September 29, 2023
	(Dollars in thousands)								(Dollars in thousands)
GAAP (Loss) Income before Income Taxes	$	(43,083	)	$	(16,573	)	$	73,071	$	(59,656	)	$	141,175

Transaction-related costs		3,295			1,842			1,806		5,137			4,885
Transaction-related interest		141			709			—		850			—
Purchased intangible amortization		5,410			5,410			630		10,820			1,390
Restructuring costs		2,067			2,414			—		4,481			—
Stock-based compensation		11,545			10,118			10,877		21,663			21,919
Loss on change in fair value of forward repurchase contract		34,752			—			—		34,752			—
Other costs⁽¹⁾		1,428			2,807			1,301		4,235			5,890
Total Non-GAAP Adjustments	$	58,638		$	23,300		$	14,614	$	81,938		$	34,084

Non-GAAP Profit before Tax	$	15,555		$	6,727		$	87,685	$	22,282		$	175,259

(1) Included in non-GAAP other costs are non-recurring charges that are individually immaterial for separate disclosure such as project evaluation costs, which consist of costs and estimated costs incurred in connection with debt and equity financings or other non-recurring transactions and income (loss) in earnings of equity investments.


*Reconciliation of Non-GAAP Income Tax Provision and Non-GAAP Effective Tax Rate*

	Three-Month Period Ended									Six-Month Period Ended
	September 27, 2024			June 28, 2024			September 29, 2023			September 27, 2024			September 29, 2023
	(Dollars in thousands)									(Dollars in thousands)
GAAP Income Tax (Benefit) Provision	$	(9,470	)	$	1,040		$	7,400		$	(8,430	)	$	14,615
GAAP effective tax rate		22.0	%		(6.3	)%		10.1	%		14.1	%		10.4	%

Tax effect of adjustments to GAAP results		10,071			(395	)		2,554			9,676			6,380

Non-GAAP Income Tax Provision	$	601		$	645		$	9,954		$	1,246		$	20,995
Non-GAAP effective tax rate		3.9	%		9.6	%		11.4	%		5.6	%		12.0	%


*Reconciliation of Non-GAAP Net Income Attributable to Allegro MicroSystems, Inc. and Non-GAAP Earnings per Share*

	Three-Month Period Ended									Six-Month Period Ended
	September 27, 2024			June 28, 2024			September 29, 2023			September 27, 2024			September 29, 2023
	(Dollars in thousands)									(Dollars in thousands)
GAAP Net (Loss) Income Attributable to Allegro MicroSystems, Inc.⁽¹⁾	$	(33,675	)	$	(17,675	)	$	65,617		$	(51,350	)	$	126,467
GAAP Basic weighted average common shares		189,182,850			193,465,708			192,431,094			191,324,281			192,214,210
GAAP Diluted weighted average common shares		189,182,850			193,465,708			195,100,855			191,324,281			195,055,495
GAAP Basic (Loss) Earnings per Share	$	(0.18	)	$	(0.09	)	$	0.34		$	(0.27	)	$	0.66
GAAP Diluted (Loss) Earnings per Share	$	(0.18	)	$	(0.09	)	$	0.34		$	(0.27	)	$	0.65

Transaction-related costs		3,295			1,842			1,806			5,137			4,885
Transaction-related interest		141			709			—			850			—
Purchased intangible amortization		5,410			5,410			630			10,820			1,390
Restructuring costs		2,067			2,414			—			4,481			—
Stock-based compensation		11,545			10,118			10,877			21,663			21,919
Loss on change in fair value of forward repurchase contract		34,752			—			—			34,752			—
Other costs⁽²⁾		1,428			2,807			1,301			4,235			5,890
Total Non-GAAP Adjustments		58,638			23,300			14,614			81,938			34,084
Tax effect of adjustments to GAAP results⁽³⁾		(10,071	)		395			(2,554	)		(9,676	)		(6,380	)
Non-GAAP Net Income Attributable to Allegro MicroSystems, Inc.	$	14,892		$	6,020		$	77,677		$	20,912		$	154,171
Basic weighted average common shares		189,182,850			193,465,708			192,431,094			191,324,281			192,214,210
Diluted weighted average common shares		189,710,595			194,705,716			195,100,855			192,154,185			195,055,495
Non-GAAP Basic Earnings per Share	$	0.08		$	0.03		$	0.40		$	0.11		$	0.80
Non-GAAP Diluted Earnings per Share	$	0.08		$	0.03		$	0.40		$	0.11		$	0.79

(1) GAAP Net (Loss) Income Attributable to Allegro MicroSystems, Inc. represents GAAP Net (Loss) Income adjusted for Net Income Attributable to non-controlling interests.
(2) Included in non-GAAP other costs are non-recurring charges that are individually immaterial for separate disclosure, such as project evaluation costs, which consists of costs and estimated costs incurred in connection with debt and equity financings or other non-recurring transactions, income (loss) in earnings of equity investments, and unrealized losses (gains) on investments.
(3) To calculate the tax effect of adjustments to GAAP results, the Company considers each Non-GAAP adjustment by tax jurisdiction and reverses all discrete items to calculate an annual Non-GAAP effective tax rate (“NG ETR”). This NG ETR is then applied to Non-GAAP Profit Before Tax to arrive at the tax effect of adjustments to GAAP results.


*Reconciliation of Non-GAAP Free Cash Flow and Non-GAAP Free Cash Flow as Percentage of Net Sales*

	Three-Month Period Ended									Six-Month Period Ended
	September 27, 2024			June 28, 2024			September 29, 2023			September 27, 2024			September 29, 2023
	(Dollars in thousands)									(Dollars in thousands)
GAAP Operating Cash Flow	$	15,547		$	34,196		$	46,730		$	49,743		$	96,393
GAAP Operating Cash Flow (% of net sales)		8.3	%		20.5	%		17.0	%		14.0	%		17.4	%
Non-GAAP adjustments
Purchases of property, plant and equipment		(9,972	)		(10,977	)		(31,191	)		(20,949	)		(76,101	)

Non-GAAP Free Cash Flow	$	5,575		$	23,219		$	15,539		$	28,794		$	20,292
Non-GAAP Free Cash Flow (% of net sales)		3.0	%		13.9	%		5.6	%		8.1	%		3.7	%

Investor Contact:
Jalene Hoover
VP of Investor Relations & Corporate Communications
+1 (512) 751-6526
jhoover@allegromicro.com

The MIL Network –

January 25, 2025

MIL-OSI Video: UK Watch live: Lords debates contribution of science and technology to the UK economy

Source: United Kingdom UK House of Lords (video statements)

Members speaking include the Astronomer Royal, doctors, scientists and former chief executive of the NHS.

Find out more https://www.parliament.uk/business/news/2024/october/the-contribution-of-science-and-technology-to-the-uk-economy-on-lords-agenda/

Catch-up on House of Lords business:

Watch live events: https://parliamentlive.tv/Lords
Read the latest news: https://www.parliament.uk/lords/

Stay up to date with the House of Lords on social media:

• Twitter: https://twitter.com/UKHouseofLords
• Instagram: https://www.instagram.com/UKHouseofLords/
• Facebook: https://www.facebook.com/UKHouseofLords
• Flickr: https://flickr.com/photos/ukhouseoflords/albums
• LinkedIn: https://www.linkedin.com/company/the-house-of-lords
• Threads: https://www.threads.net/@UKHouseOfLords

#HouseOfLords #UKParliament #StateOpening

https://www.youtube.com/watch?v=B6Uivr_GIO8

MIL OSI Video –

January 25, 2025

MIL-OSI Video: Gaza: Report on destruction of Healthcare system – Press Conference | United Nations

Source: United Nations (Video News)

The Chairperson of the UN Independent International Commission of Inquiry on the Occupied Palestinian Territory, including East Jerusalem and Israel, Navanethem Pillay, presented the commission’s latest investigative report to the UN General Assembly. Pillay and Chris Sidoti spoke to reporters in New York.

Israel has perpetrated a concerted policy to destroy Gaza’s healthcare system as part of a broader assault on Gaza, committing war crimes and the crime against humanity of extermination with relentless and deliberate attacks on medical personnel and facilities, the UN Independent International Commission of Inquiry on the Occupied Palestinian Territory, including East Jerusalem, and Israel said in a new report.

The Commission also investigated the treatment of Palestinian detainees in Israel and of Israeli and foreign hostages in Gaza since 7 October 2023, and concluded that Israel and Palestinian armed groups are responsible for torture and sexual and gender-based violence.

The report found that Israeli security forces have deliberately killed, detained and tortured medical personnel and targeted medical vehicles while tightening their siege on Gaza and restricting permits to leave the territory for medical treatment. These actions constitute the war crimes of wilful killing and mistreatment and of the destruction of protected civilian property and the crime against humanity of extermination.

Attacks on medical facilities in Gaza, particularly those devoted to paediatric and neonatal care, have led to incalculable suffering of child patients, including newborns, the report said. In continuing these attacks, Israel has violated children’s right to life, denied children access to basic healthcare, and deliberately inflicted conditions of life resulting in the destruction of generations of Palestinian children and, potentially, the Palestinian people as a group.

Regarding the detention of Palestinians in Israeli military camps and detention facilities, the report found that thousands of child and adult detainees, many of whom were arbitrarily detained, have been subjected to widespread and systematic abuse, physical and psychological violence, and sexual and gender-based violence amounting to the war crime and crime against humanity of torture and the war crime of rape and other forms of sexual violence. Male detainees were subjected to rape, as well as attacks on their sexual and reproductive organs and forced to perform humiliating and strenuous acts while naked or stripped as a form of punishment or intimidation to extract information. The deaths of detainees as a result of abuse or neglect amount to the war crimes of wilful killing or murder and violations of the right to life.

Child detainees released by Israeli authorities have returned to Gaza severely traumatized, unaccompanied, with limited ability to locate or communicate with their families.

The report found that the institutionalized mistreatment of Palestinian detainees, a longstanding characteristic of the occupation, took place under direct orders from the Israeli Minister in charge of the prison system, Itamar Ben-Gvir, and was fuelled by Israeli government statements inciting violence and retribution.

“The appalling acts of abuse committed against Palestinian detainees require accountability and reparations for the victims,” said Pillay. “The lack of accountability for actions ordered by senior Israeli authorities and carried out by individual members of Israeli security forces and the increasing acceptance of violence against Palestinians have allowed such conduct to continue uninterrupted, becoming systematic and institutionalized.”

Regarding the Israeli and foreign hostages held in Gaza by Palestinian armed groups, the report found that many were mistreated to inflict physical pain and severe mental suffering, including physical violence, abuse, sexual violence, forced isolation, limited access to hygiene facilities, water and food, threats and humiliation. Hamas and other Palestinian armed groups forced hostages to participate in videos with the intent of inflicting psychological torture on the families of hostages, to achieve political aims. Several hostages were killed in captivity. Hamas and other Palestinian armed groups committed the war crimes of torture, inhuman or cruel treatment, and the crimes against humanity of enforced disappearance and other inhumane acts causing great suffering or serious injury.

“Palestinian armed groups must release immediately and unconditionally all Israeli and foreign hostages held in Gaza. Hostages must be treated in accordance with the requirements of international humanitarian law and international human rights law until they are released,” said Pillay.

https://www.youtube.com/watch?v=ajhdGV0Nyf4

MIL OSI Video –

January 25, 2025

MIL-OSI United Kingdom: Appointment of Cambridge Growth Company Chair

Source: United Kingdom – Executive Government & Departments

The Housing Minister, Matthew Pennycook, has appointed Peter Freeman as the Chair of the Cambridge Growth Company to drive forward the government’s growth ambitions in Greater Cambridge.

Applies to England

Documents

Appointment of Cambridge Growth Company Chair: Letter from Matthew Pennycook MP

PDF, 154 KB, 5 pages

Appointment of Cambridge Growth Company Chair: Letter from Matthew Pennycook MP

HTML

Details

The Housing and Planning Minister has appointed Peter Freeman as Chair of the Cambridge Growth Company. The Growth Company will work with local partners to develop and start to deliver an ambitious plan for delivering high-quality sustainable growth in Cambridge and its environs.

Peter is an accomplished development and regeneration professional with a track record of delivery and working in collaboration with local communities as well as private and public partners. He brings a wealth of experience in delivering complex mixed-use projects, including in his current role as Chair of Homes England and through the renowned redevelopment of King’s Cross.

The Growth Company will focus on enabling and accelerating key developments in and around Cambridge, developing the evidence base to support an infrastructure-first growth plan and identifying solutions to complex constraints that are holding back sustainable growth.

Published 31 October 2024

MIL OSI United Kingdom –

January 25, 2025

MIL-OSI United Kingdom: New support now available to help managers recruit

Source: United Kingdom – Executive Government & Departments

Government Skills has launched training package to support recruitment managers’ and panel members.

Government Campus has launched a new recruitment training suite to help managers get the knowledge and tools they need to recruit the right person to the right role.

The training uses evidence-based recruitment practices and ensures managers are sighted on legislation which sets out how they should approach recruiting staff.

The new Success Profiles Recruitment using Success Profiles suite aims to provide flexible, practical training that improves recruitment outcomes and supports a positive candidate experience across government departments.

It can be accessed through the Recruitment with Success Profiles page of Prospectus Online.

The new suite comprises online resources, workshops, e-learning, animations, and podcasts. Courses cover best practices at each stage of recruitment, such as writing job descriptions, designing assessments, and assessing candidates. Much of the content is free with optional workshops that allow learners to practise skills in a structured setting.

To remain current, Government Campus are working closely with the Recruitment transformation team and will refresh the courses over the next two years based on learner feedback and shifts in recruitment practices, including advances in AI.

The older online courses: Success Profiles: Sifting and Interviewing and Designing Your Assessment Process will remain available on the website until the new year to allow departments to choose when to move to the new Recruitment with Success profiles courses. Departmental learning and development leads will be consulted before removal.

Bookings for the new workshops are now available, with dates for open bookings being offered from January 2025.

This new, free suite of learning can be accessed through the Recruitment with Success Profiles page on Prospectus Online.

Published 31 October 2024

MIL OSI United Kingdom –

January 25, 2025

MIL-OSI Europe: Missions – AFET ad-hoc delegation to the United Kingdom – 28-10-2024 – Committee on Foreign Affairs

Source: European Parliament

A seven-member strong delegation of the Committee on Foreign Affairs (AFET) travelled to the United Kingdom from 28 to 30 October 2024. This was the first official visit of the Committee abroad in this parliamentary term. The delegation discussed possibilities for strengthening of the EU-UK partnership, in particular in foreign and security affairs.

This visit was also be an opportunity to exchange views on issues of global and regional significance such as the Russia’s war of aggression against Ukraine, the situation in the Middle East and tensions in the Indo-Pacific.

MIL OSI Europe News –

January 25, 2025

MIL-OSI Europe: Highlights – AFET ad-hoc mission to the United Kingdom – 28-30 October – Committee on Foreign Affairs

Source: European Parliament

A seven-member strong delegation of the Committee on Foreign Affairs (AFET) travelled to the United Kingdom from 28 to 30 October 2024. This was the first official visit of the Committee abroad in this parliamentary term. The delegation discussed possibilities for strengthening of the EU-UK partnership, in particular in foreign and security affairs.

This visit was also be an opportunity to exchange views on issues of global and regional significance such as the Russia’s war of aggression against Ukraine, the situation in the Middle East and tensions in the Indo-Pacific.

MIL OSI Europe News –

January 25, 2025

MIL-OSI USA: Governor Newsom announces first-of-its-kind partnership with airlines on sustainable aviation fuel

Source: US State of California 2

Oct 30, 2024

What you need to know: The nation’s leading passenger and cargo airlines agreed to accelerate the use of sustainable aviation fuels and cut pollution – a goal of 200 million gallons by 2035, which would meet about 40% of California travel demand.

SAN FRANCISCO AIRPORT – A new agreement between Airlines 4 America (A4A) and the California Air Resources Board (CARB) will significantly reduce carbon emissions by accelerating the use of sustainable aviation fuels for flights within the state.

The agreement sets a goal of increasing the availability of sustainable aviation fuel for use within California to 200 million gallons by 2035, an amount that would meet about 40% of intrastate travel demand – a more than tenfold increase from current levels.

“California and the aviation industry are joining forces to tackle emissions head-on. We’ve put the tools in place to incentivize cleaner fuels and spur innovation, creating opportunities like this to radically change how Californians can travel cleaner. This is a major step forward in our work to cut pollution, protect our communities, and build a future of cleaner air and innovative climate solutions.”

Governor Gavin Newsom

This achievement was made possible by the development and innovation of alternative fuels spurred by the state’s Low Carbon Fuel Standard program.

“California is once again demonstrating that smart climate action is good for the environment and good for business,” said CARB Chair Liane Randolph. “This partnership with the nation’s leading airlines brings the aviation industry onboard to advance a clean air future and will help accelerate development of sustainable fuel options and promote cleaner air travel within the state.”

A4A’s members include Alaska Airlines, American Airlines, Atlas Air Worldwide, Delta Air Lines, FedEx, Hawaiian Airlines, jetBlue Airways, Southwest Airlines, United Airlines, UPS, and associate member Air Canada.

“A4A is pleased to launch a partnership with CARB focused on protecting the environment, reducing emissions, and increasing the use of SAF in California and across the country,” said Kevin Welsh, Vice President of Environmental Affairs and Chief Sustainability Officer at Airlines for America. “This partnership reflects the type of collaboration between government and the private sector that is necessary to achieve ambitious climate goals, and the agreement announced today reflects the strength of our commitment to a cleaner, more sustainable future for air travel. We’re excited to work with CARB and other SAF stakeholders to further our industry’s efforts to achieve net-zero carbon emissions by 2050.”

Key goals of this agreement

CARB and A4A will work together with sustainable aviation fuel producers, aviation stakeholders and the federal government to ensure that at least 200 million gallons of cost-competitive options are available for use by airlines within California by 2035.
To achieve these goals, CARB and A4A will work together to identify, evaluate, and prioritize new policies and actions, including incentives for investment and timely permitting to help accelerate the availability and use of sustainable aviation fuels within California.
The partnership will establish a Sustainable Aviation Fuel Working Group of government and industry stakeholders that will meet annually to report progress and address barriers to meeting these goals.
CARB staff plans to create a public website that will display the latest information on the availability and use of conventional jet fuel and sustainable aviation fuel in California, as well as details on relevant state and federal incentives and policies.

Read the agreement here.

Recent news

Oct 30, 2024

News What you need to know: The Governor signed an executive order to help curb rising electricity costs and provide electric bill relief. SACRAMENTO – Today, Governor Gavin Newsom signed an executive order designed to reduce electric costs for Californians. The…

Oct 29, 2024

News What you need to know: The Biden-Harris Administration is granting more than $1 billion to California’s ports to accelerate their transition to zero-emission operations and create good paying jobs. SACRAMENTO – California ports are about to become cleaner and…

Oct 29, 2024

News What you need to know: Governor Newsom today announced 37 new grant awards totaling more than $827 million to help more than 100 local communities and organizations create long-term solutions to address homelessness. The grant agreements include strong…

MIL OSI USA News –

January 25, 2025

Category: Politics

Share this page

Updates to this page

More in Scottish Independence

United States Delivers Second United Nations Level 2 Hospital to Uganda for Peacekeeping and Humanitarian Efforts

United States Delivers Second United Nations Level 2 Hospital to Uganda for Peacekeeping and Humanitarian Efforts

United States Delivers Second United Nations Level 2 Hospital to Uganda for Peacekeeping and Humanitarian Efforts

United States Delivers Second United Nations Level 2 Hospital to Uganda for Peacekeeping and Humanitarian Efforts

How can we regulate AI?

Chatbots should be ‘high-risk’ AI

Guardrails and an ‘off switch’

Updates to this page

Invasion of Ukraine

Tackling poverty beats TB

TB-related deaths

Mixed bag of infection rates

Barriers to seeking treatment

Vaccine race

Future threats

What needs to be done

Applies to England

Documents

Details

Updates to this page

Sign up for emails or print this page

Share this page

Updates to this page

Recent news