Category: Transport

  • MIL-OSI: NEWTON GOLF Announces $1 Million Share Repurchase Authorization

    Source: GlobeNewswire (MIL-OSI)

    CAMARILLO, CA, Feb. 03, 2025 (GLOBE NEWSWIRE) — NEWTON GOLF Company (Nasdaq: SPGC) (“NEWTON GOLF” or the “Company”), a technology-forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, announces that its Board of Directors has approved a share repurchase authorization of up to $1 million of its common stock, effective January 31, 2025 and expiring January 31, 2026. The Company may repurchase the shares in open market transactions, privately negotiated transactions, or a combination thereof. Share repurchases are subject to the Company’s discretion based on market conditions, business considerations, legal requirements, and other factors. There is no guarantee as to the number of shares that will be repurchased, and the repurchase program may be extended, suspended, or discontinued without prior notice at the Company’s discretion.

    “Our share repurchase authorization reflects the confidence we have in our business, our outlook for continued growth, and a path to breakeven. Growing adoption of our Newton Motion replacement shafts is a significant factor that provides us the flexibility and discretion to repurchase our common stock,” commented NEWTON GOLF Executive Chairman Greg Campbell.

    About NEWTON GOLF: A Sacks Parente Company

    NEWTON GOLF: A Sacks Parente Company, is a technology-forward golf company that help golfers elevate their game. With a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, the Company’s innovative accomplishments include: the First Vernier Acuity putter, patented Ultra-Low Balance Point (ULBP) putter technology, weight-forward Center-of-Gravity (CG) design, and pioneering ultra-light carbon fiber putter shafts.

    In consideration of its growth opportunities in golf shaft technologies, the Company expanded its manufacturing business in April of 2022 to develop the advanced Newton brand of premium golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. It is the Company’s intent to manufacture and assemble substantially all products in the United States, while also expanding into golf apparel and other golf-related product lines to enhance its growth.

    The Company’s future expansions may include broadening its offerings through mergers, acquisitions or internal developments of product lines that are complementary to its premium brand. The Company currently sells its products through resellers, the Company’s websites, Club Champion retail stores, and distributors in the United States, Japan, and South Korea.

    For more information, please visit the Company’s website at www.newtongolfco.com or on social media at @newtongolfco.com, @newtonshafts, or @gravityputters.

    Investor Contact for NEWTON GOLF
    CORE IR
    516-222-2560
    investors@sacksparente.com

    The MIL Network

  • MIL-OSI Global: Presidential smiles: the untold story of teeth in the White House

    Source: The Conversation – UK – By Rae Gillibrand, Lecturer, Premodern History, University of Leeds

    When Donald Trump joined Elon Musk for a live interview on X (formerly Twitter) late last year, the conversation covered a range of significant topics: his near-assassination, Biden’s withdrawal from the race, and the future of the presidency. However, for many viewers, an unexpected detail stole the spotlight: Trump’s slurred speech and lisp.

    Was Trump wearing dentures? The public certainly seemed to think so. Throughout the interview, the word “dentures” was mentioned over 15,000 times on X and the interview sparked the resurgence of the hashtag #DenturedDonald.

    Why does this matter? Trump is, after all, 78 years old, and a 2017 survey showed that nearly one in four Americans aged 75 and older have no teeth left at all. However, presidential dental health has long had an impact on public perception and leadership itself. From George Washington’s infamous dentures to Teddy Roosevelt’s toothy grin, a president’s teeth (or lack thereof) have often shaped the way they are seen by the American public.

    Since the appointment of George Washington as the first US president, it has been tradition for each new president to commission a portrait of themselves during their time in office. However, it was not until Ronald Reagan’s portrait, completed in 1991, that we saw a president depicted with a smile.

    This is partly to do with practicality – many early portraits were painted from life, and sitting with a smile for hours was almost impossible – and partly to do with etiquette. In the 18th century, a wide smile was considered a sign of lewdness and drunkenness and associated largely with the lower classes.

    Indeed, a 1703 text on “decorum and civility” said that some people part their lips so that “their teeth are almost entirely visible. This is entirely contradictory to decorum, which forbids you to allow your teeth to be uncovered, since nature gave us lips to conceal them.”

    It is often suggested that historical portraits avoided smiles because of poor dental hygiene, but in reality, social conventions played a much larger role. For earlier presidents, maintaining an image of sobriety, morality and respectability was important, and a serious expression was seen as a reflection of these values.

    This all changed with Teddy Roosevelt. When Roosevelt became the 25th US president in 1901, photography was becoming much more accessible. Technological advancements and the introduction of handheld cameras meant that photography could be practised by a much broader range of people.

    Because of this, Roosevelt was often candidly photographed while laughing or smiling, leading to his reputation as “the first president who smiled”.

    He even capitalised on his grin in his 1904 campaign by releasing the Teddy’s Teeth Whistle. Retailing at five cents (US$1.77 or £1.44 in today’s money), supporters were encouraged to buy a set and “blow the horn for Teddy”.

    Roosevelt’s embrace of his smile and the promotion of his teeth marked a shift in how a president’s image could be used to influence public perception, showing that good dental health could be a powerful political tool.

    Worse than wood

    Not all presidents were as diligent as Roosevelt when it came to dental hygiene. George Washington, for example, was infamous for his poor dental health.

    His letters, diaries and financial accounts reveal a long history of dental troubles, ultimately leading to his use of dentures. However, contrary to popular belief, Washington’s dentures were not made of wood. Instead, they were made from materials including ivory, animal teeth and human teeth.

    One of Washington’s account books reveals that he bought nine teeth from enslaved people on his Mount Vernon plantation. This detail adds a sinister layer to the history of Washington’s dental care because, while these people were paid for their teeth, their enslaved status probably left them with little choice in the matter.

    Washington’s poor dental hygiene also extended to his care of his dentures. They became notoriously stained, largely due to his fondness for rich red wine. One letter from his dentist chastised him for the condition of his dentures, stating: “The set [of dentures] you sent me from Philadelphia … was very black, occasioned either by your soaking them in port wine, or by your drinking it. I advise you to either take them out after dinner and put them in clean water … or clean them with a brush.”

    These insights into Washington’s dental struggles underscore the lasting effect of oral health on the presidential image.

    Presidential dental health has played, and continues to play, an important role in shaping public perception, with teeth often serving as symbols of both personal care and political power. Whether influencing how a president is seen or reflecting broader social attitudes, the state of a leader’s teeth has clearly left its mark on the history of the office.

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

    ref. Presidential smiles: the untold story of teeth in the White House – https://theconversation.com/presidential-smiles-the-untold-story-of-teeth-in-the-white-house-248391

    MIL OSI – Global Reports

  • MIL-OSI Global: Why drying clothes indoors could put your health at risk

    Source: The Conversation – UK – By Rebecca A. Drummond, Associate Professor, Immunology and Immunotherapy, University of Birmingham

    Magic Lens/Shutterstock

    Hanging the washing out to dry in the garden has been a rare sight these last few months, with winter storms bringing freezing temperatures and 100mph gusts of wind. But does the way we dry our clothes indoors actually matter?

    Drying wet clothing on racks in poorly ventilated spaces could increase the amount of mould growing in your home, which is associated with poor health and, in some cases, even death.

    When mould grows in your home, it can form black or green coloured patches on the walls, and usually creates an unpleasant musty smell. It shouldn’t be ignored, because being exposed to mould over long periods of time can have serious health implications.

    Mould is a broad term for a group of fungi that produce tiny particles called spores. Fungi produce spores when conditions are right for their growth, which can include cooler temperatures and high humidity. This is why you’re more likely to find mould growing on bathroom ceilings or damp walls, where there is more water for fungal spores to settle and grow.

    There are many different species of mould. The most common ones to cause problems in damp homes are penicillium and aspergillus. It’s estimated that we breathe in small numbers of spores from these fungi on a daily basis.

    Luckily, our immune system is very good at spotting and killing fungal spores, which limits the number of fungal lung infections in humans even though we’re constantly exposed. Immune cells called macrophages sit inside the air spaces of the lungs (called alveoli), and these cells eat anything you inhale that could be considered harmful, including fungal spores.

    Risks for compromised immune systems

    However, there are many people whose immune systems are not able to remove fungal spores, and in these cases the fungi can cause dangerous infections or make underlying health conditions (such as asthma) much worse.

    People who have damaged or compromised immune systems are at higher risk of becoming seriously unwell from fungal infections. Moulds like aspergillus cause infections in patients with limited immune function, or who have lung damage from diseases like asthma, cystic fibrosis and chronic obstructive pulmonary disease (COPD) associated with heavy smoking.

    In people with asthma, the immune system overreacts to triggers (including fungal spores) causing inflammation in the lung. This inflammation makes it more difficult to breathe by reducing the size of the airways. The same type of immune response is responsible for the symptoms of asthma and allergic responses, and fungal spores can also trigger these same types of immune responses. This means that fungal spores can be a particularly powerful trigger for some people.

    In very extreme cases, the fungal spores don’t just cause inflammation but can invade the airways and block them leading to bleeding within the lung. This happens when spores germinate and form long spiderweb-like projections called mycelium which create sticky lumps that block airways and damage the delicate tissues of the lung.

    Growing resistance

    Aspergillus infections are treated with antifungal drugs called azoles, which prevent the fungal cells from forming properly. Azoles are very effective, but there are increasing rates of resistance to azoles reported in aspergillus which is a significant cause for concern.

    We have a limited range of antifungal drugs available to treat mould infections – and when resistance develops this can severely reduce the options a patient has for treatment.

    Resistance to drugs such as azoles can develop in patients who take these drugs for long periods of time, but recent research has indicated that resistance is more commonly developing in the environment, where most fungi are found. This means that even before a patient is diagnosed with an aspergillus infection, it may already be too late for the antifungal drugs to be effective.

    Development of drug resistance in environmental fungi has been linked to use of azoles and other antifungal drugs in farming. Fungal infections are a big problem for crops, and plants need protection from these infections the same way we do. Unfortunately, the same drugs we use in the clinic are the same types that are being used in agriculture.

    Climate change may also be driving drug resistance in environmental fungi. Exposure to high temperatures was recently found to help moulds develop resistance to commonly prescribed antifungal drugs. There have also been reports of patients becoming ill from species of mould that were not thought to cause human disease, in part because they could not grow at the human body temperature.

    More mould species could therefore be picking up the ability to cause infections, as well as becoming drug resistant. Research programs and healthcare initiatives that monitor for these changes are vital to help us become prepared for potential increases in mould infections.

    While a healthy immune system means that typical exposure to fungal spores is not likely to cause you any health problems, being exposed to very large amounts of fungal spores can prove to be fatal even for people who don’t have underlying health issues.

    In 2020, toddler Awaab Ishak died as a direct result of high exposure to fungal spores, caused by excessive damp and mould in his home.

    His death led to a change in UK law (Awaab’s Law) which requires landlords to respond promptly to damp in homes they manage, to ensure that tenants are not exposed to excessive levels of fungal spores which can affect their physical and mental health.

    It’s important, then, to help keep your home free of mould. The best way to do this is ensure you have good ventilation and take other measures to reduce damp, such as using a dehumidifier or investing in a heated clothes rack to dry your clothes indoors in the winter.

    Rebecca A. Drummond receives funding from the Medical Research Council, the Wellcome Trust and the Lister Institute.

    ref. Why drying clothes indoors could put your health at risk – https://theconversation.com/why-drying-clothes-indoors-could-put-your-health-at-risk-248467

    MIL OSI – Global Reports

  • MIL-OSI Global: How to argue without falling out – an expert guide

    Source: The Conversation – UK – By Jessica Robles, Lecturer in Social Psychology, Loughborough University

    Pormezz / Shutterstock

    To disagree is an inescapable part of being human. We simply are not all the same. But whereas a small disagreement may remain amiable, particularly over text or online where we can edit our responses, a face-to-face row over a sensitive topic can develop into a more antagonistic form of argument.

    You may have experienced this over the recent festive season, when many of us spend more time in close contact with our relatives than usual. This can sometimes bring simmering tensions to the surface.

    An argument can start over a lot of things, from politics to each other’s behaviour – something anyone who spends much time on social media will be familiar with. But the stronger the view, the more intense and complex an argument can become.

    So, what can you do to avoid a minor argument becoming a major row – whether online or face-to-face? As an expert in social interactions, I think paying attention to what someone says – and how they say it – is crucial, along with learning how to avoid responding in ways that might blow up in your face.

    Remember, disagreements are a normal part of life and relationships. But here are three key tips for how to avoid them escalating into something more serious.


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    1. Manage escalation

    If you disagree with someone, stay in the conversation in a productive way by avoiding using direct insults. Also, take care to avoid actions that may put the other person on the back foot, such as accusing, complaining or mocking them.

    We tend to put a lot of emphasis on the content of an argument, and also on our assumptions about what the other person “really thinks”. What is the argument about? Is it just a misunderstanding – or is it a matter of personality, where one party is biased or has some ulterior motive?

    The rise of social media has created an age of endless conflict.
    pathdoc / Shutterstock

    We care very much whether the person actually believes what they are saying. Research suggests we often resent people playing “devil’s advocate” outside of certain settings.

    But you cannot truly know someone’s intentions, so it’s a good idea to avoid thinking the worst about the person you are arguing with. Otherwise, you might unfairly talk to them as if they’re being manipulative, unfair, damaging or thoughtless.

    2. Be open-minded

    Sometimes, what someone has said may sound (and feel) pretty awful. When this happens, keep two things in mind.

    First, nothing we say has just one meaning. There are often multiple interpretations, and you cannot always trust the first one that leaps to mind when you’re in the heat of the moment.

    During an argument, it’s worth slowing down and thinking through all possible interpretations. Consider asking for a moment to think, or getting a cup of tea to distract both of you from an escalation.

    Second, if what the person is saying still sounds negative no matter how charitable you try to be, ask them to explain more. This may not be easy to do, but people will often reveal what they meant if they have to elaborate. And helping them feel as if they are being carefully listened to might defuse a possible escalation.

    3. Stay on track

    There is another side to this coin: choosing carefully what you say, and keeping in mind how you will come across. Anyone can get caught up in an argument and say something they regret, including you.

    Something to balance carefully is “going meta” – pausing to talk about the argument you’re having and the way you’re having it. This can be productive if, for instance, you ask to keep the conversation focused on something specific. However, it can easily come across as an implicit criticism of the other person.

    If you do choose to discuss the quarrel you’re having, you may have to include an apology or speak in a quieter tone to keep the other person from thinking you are going to accuse them of arguing “wrongly” in some way. It’s challenging, so don’t feel bad if you don’t get it right the first time you try this technique.

    Anyone can get caught up in an argument, including you.
    fizkes / Shutterstock

    Do we have the same values?

    People don’t just argue for the sake of arguing. One of the main reasons for engaging in an argument is to position ourselves in relation to other people. Are we on the same side, and do we have the same values?

    Arguments are also tied to identity. The most contentious arguments generate strong feelings. We’re aware that we might be judged for our opinions, and others will assume that we might judge them in return.

    Mutual judgment can easily escalate not just during a disagreement but in the relationship as a whole, causing a temporary falling-out or even loss of friendship. People who want to avoid this often assume the answer is to simply put their feelings aside and “focus on facts”.

    But denying an emotional response might feel like denying one’s commitment to a valued cause. Recognising that someone feels this way is an important step to knowing what you might be able to change their mind about – and what is best left alone, at least for now.

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

    ref. How to argue without falling out – an expert guide – https://theconversation.com/how-to-argue-without-falling-out-an-expert-guide-236812

    MIL OSI – Global Reports

  • MIL-OSI Global: The Sims: from Hot Date to Get Famous, why expansion packs have been key to the game’s longevity

    Source: The Conversation – UK – By Aditya Deshbandhu, Lecturer of Communications, Digital Media Sociology, University of Exeter

    SimCity 3000, the predecessor to The Sims, played a pivotal part in my childhood, growing up in Hyderabad, India. Its recreation of the western, urban world helped me understand how cities were planned, designed and financed – and how they provided people with key services like transportation, health and education while preparing for accidents and other hazards.

    As an eight-year-old trying to figure out my place in the world, that game offered me a way to make meaning of the chaos that can be life. So, when The Sims launched in 2000 – enabling me to live inside a virtual city, rather than simply build one – I had to get my hands on a copy.

    Twenty-five years later, I write this piece in a drastically different gaming landscape, where games offer high visual fidelity and ever-increasing frame rates for ultra-smooth game play. But despite all these technological innovations and the pursuit of photo-realism, the popularity of The Sims’ game designer Will Wright’s satire on American consumer culture endures.


    Sul Sul! This article is part of a mini series from The Conversation marking 25 years of The Sims franchise.


    The franchise’s four Sims games had sold over 200 million copies before the latest instalment, The Sims 4, became free to play in 2022. Players now spend their money on extras within the game. Over 85 million people played The Sims worldwide in 2024.

    At a time when the success of a modern video game is measured in metrics like “cumulative engagement time” (number of players playing at the same time), acquisition of new players and “intensity of engagement” (number of hours spent by a player), now-over-a-decade-old The Sims 4 continues to excel with its mastery of the live-service format.

    The trailer for the first Sims game.

    Live-service describes the form modern digital games embrace when they transition from conventional products into “services” – a shift made possible because games today can be regularly updated, fixed and expanded upon by their makers remotely. They can acquire new levels and in-game features in a similar way to how streaming platforms like Netflix drop new episodes of your favourite show.

    Players don’t buy a live-service game, they sign up for the journey.

    Expanding player horizons

    In each incarnation of The Sims, players have been able to access new ways to perform roles and tasks that mimic everyday life, in the form of expansions and content packs.

    The original title, The Sims (2000), had seven expansion packs and two content packs. I distinctly remember brewing potions in the chemistry lab and rubbing a magic lamp to conjure a genie in the first expansion, Livin’ Large; the new holiday island that was built for The Sims: Vacation; and leaving my Sim’s home to visit downtown areas as part of Hot Date.

    The trailer for The Sims Hot Date expansion pack.

    But for The Sims 4 (2014), the developers went all in. This game – and its subsequent expansions – represents a digital supermarket of lifestyles, sub-cultures, activities and stardom. For example, 2018’s Get Famous pack not only introduced Del Sol Valley – a region that resembled Los Angeles and the Hollywood Hills – but also introduced the “reputation” mechanism for players.

    The Discover University expansion (2019) allowed players to take their Sims to school in a new region called Britechester – after this update, the game integrated Sims’ careers and education, and in many ways changed the rules of the game. And the Eco Lifestyle expansion pack (2020) is memorable because the game engaged with ideas of sustainable living for the first time.

    Genre, fantasy and reality

    From content packs featuring a digital recreation of singer Katy Perry in The Sims 3 to collaborations with streamers, content creators and fashion houses, The Sims has remained relevant by consistently blurring the lines between genre, reality and fantasy.

    Hot Date was a popular early Sims expansion pack.

    Today, video game makers the world over try to master formats like free-to-play games where players pay for cosmetic items, customisations and added content, or expansions offering downloadable content. The Sims set the standard for most of them.

    Over the past 25 years, this franchise has had several life simulation competitors in the form of Second Life, Facebook’s once popular Farmville, virtual reality experiences like Half-Life: Alyx and, during the pandemic when we worked, learnt and played online, initiatives like the Metaverse.

    However, today only The Sims endures. The game’s developers continue to give its players what they want, while also getting them to engage with difficult ideas like sustainability, the question of life and death, and even gentrification (For Rent expansion pack, anyone?).

    Few games let players critique life so closely. For game researchers like me, this begs the question: do people play life simulation games like The Sims in order to build alternative lives, relive their own – or create something entirely new?


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

    ref. The Sims: from Hot Date to Get Famous, why expansion packs have been key to the game’s longevity – https://theconversation.com/the-sims-from-hot-date-to-get-famous-why-expansion-packs-have-been-key-to-the-games-longevity-248604

    MIL OSI – Global Reports

  • MIL-OSI Global: Will multinational companies flock to Syria? Maybe, if foreign aid arrives first

    Source: The Conversation – UK – By Ana Carolina Garriga, Professor of Political Science, University of Essex

    hanohiki / Shutterstock

    Syria’s new foreign minister, Asaad al-Shaibani, recently appeared at the World Economic Forum’s annual conference in the Swiss resort of Davos. He announced that his country is open for business and seeking foreign investment.

    After more than 13 years of civil war and decades of dictatorship that saw Syria become a pariah state, the country needs all the financial support it can get. But will foreign firms set up shop in Syria?

    Countries like Syria, emerging from conflict, face the challenge of convincing investors they are a safe environment for investment. Our research suggests companies look at what governments are doing in terms of aid when considering whether to invest. In general, post-war countries that receive more foreign aid subsequently receive more foreign investment.

    Foreign direct investment (FDI) typically involves multinational companies building factories, opening stores or investing capital in businesses abroad. It can be highly beneficial for developing countries.

    FDI is the most stable source of international financing, and generally has positive long-term effects on economic growth and poverty reduction. More importantly for incumbent governments, FDI has positive short-term effects on domestic employment, government financing and spending, and foreign exchange reserves.

    It also has a potential positive effect on government approval ratings, as attracting inward FDI signifies political competence to voters. These reasons are why almost all governments compete to receive these financial flows.

    FDI is especially important in post-conflict countries. Civil wars typically destroy or seriously harm the productive capacity of countries. In Syria, the conflict destroyed tens of billions of US dollars worth of infrastructure, and incapacitated more than half its electrical grid.

    After 13 years of civil war, Syria needs all the financial support it can get.
    Vagabjorn / Shutterstock

    War often disrupts a country’s access to the international economic exchanges that help economic growth. Since the beginning of its conflict in March 2011, Syria’s annual exports have dropped from US$8.8 billion (£7.1 billion) to US$1 billion, due to the war and war-related sanctions. Its economy has shrunk by 54%.

    Foreign investment can contribute substantially to rebuilding the economy. But post-conflict countries might seem risky to investors.

    Foreign firms sometimes avoid countries plagued by violence, political instability, or political risk. Conflict could reemerge in Syria, and multinational corporations probably do not want their business in a place where factories could be bombed or customers killed.

    Post-conflict situations are also relatively information-poor environments. Conflict often hampers data collection efforts, and governments, in desperate need of capital, may be incentivised to misrepresent the actual state of the economy or strength of the political system.

    In the case of Syria, foreign observers do not know what to make of the new ruling coalition, which is led by a designated terrorist organisation in Hayat Tahrir al-Sham. While the international community seems to want to support Syria – the UK, for example, has been clear about its intention to help the country – observers are unsure about the environment and how it might change in the coming years.

    In these kinds of situation, international investors look at a variety of signals. In our research, we show that one key signal is whether other governments have sent official development aid to post-conflict countries.

    Following the aid

    We argue that the decision to send aid to a country signals the donors’ trust of local authorities. What matters is this presence of aid, whether or not the aid achieves its intended purpose.

    Examining decades of global data, we have found a robust relationship between foreign aid and subsequent investment in post-conflict countries – with one striking exception.

    There does not seem to be a relationship between aid from the US and foreign investment. Because so much of US foreign aid is geostrategic – to shore up alliances or secure access to particular areas – investors do not seem to view it as a valuable signal about the recipient country.

    So, Syria should perhaps not worry too much about the new US president Donald Trump’s plan to cut American foreign aid. If aid from other government donors can still flow in, this could encourage investment to follow.

    Fortunately for Syria, some countries and international organisations have already pledged aid – including the UK, which has announced £50 million in humanitarian aid for the country and its refugees. This seems like a good sign for Syria’s future – even more so because of the signal it sends to foreign investors.

    Specific domestic policies that encourage FDI and build stronger institutions will be necessary to secure investment in the longer term. Syria will need to demonstrate its commitment to the rule of law and property rights, while creating a stable environment for investment.

    However, if the pledged aid materialises – and if more countries chip in – this could lead to substantial economic benefits for Syria.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. Will multinational companies flock to Syria? Maybe, if foreign aid arrives first – https://theconversation.com/will-multinational-companies-flock-to-syria-maybe-if-foreign-aid-arrives-first-248406

    MIL OSI – Global Reports

  • MIL-OSI Global: How The Sims’ endless customisation fostered one of gaming’s most diverse player communities

    Source: The Conversation – UK – By Andra Ivănescu, Senior Lecturer in Game Studies and Ludomusicology, Brunel University of London

    Katy Perry is in a recording booth. She turns to the camera, smiles and begins to sing: “Badipsa frooby noop”. As if to confirm that we didn’t mishear her, she repeats “Badipsa frooby noop” and gives the camera a thumbs up.

    The moment was captured in 2010, in a behind-the-scenes video of Perry recording her song Last Friday Night in Simlish – the language spoken by characters in The Sims games. It was part of her branded downloadable content (DLC) package, Sweet Treats, which was available to players of The Sims 3.

    The Sims is celebrating its 25th anniversary in 2025, to the chagrin of many a millennial. From its groundbreaking approach to inclusive character creation to the surreal charm of global pop stars re-recording their hits in Simlish, The Sims has always operated at the intersection of individuality and shared culture.

    Created by one of the industry’s few auteur game-designers, Will Wright, The Sims 1 was released on the cusp of the millennium and changed the video game landscape forever.

    The game harks back to what game studies researcher Jesper Juul described, in his foundational book Half-Real (2005), as the “primordial game structure”. This is a game in which the player doesn’t follow a set story or structure in a linear way, but gets to design their own strategies, combining the rules in often unpredictable ways.


    Sul Sul! This article is part of a mini series from The Conversation marking 25 years of The Sims franchise.


    More than that, players are able to tell their own stories and build emergent narratives. These narratives are not about war, fantasy worlds or outer space, but regular people, regular homes, regular jobs and plenty of WooHoo (The Sims’ euphemism for sex).

    Custom creativity

    The Sims franchise provides players with a space to perform and experiment, to be cruel, silly or creative. These modes of play can take the form of machinima – using the game engine to make creative videos. Or using features like the family album, in which players can capture photos of their avatars within the game to make poignant statements about important social issues.

    The base game has provided an increasingly diverse range of opportunities for customisation of characters, spaces and activities. And the large quantity of available DLCs and mods (player-made modifications to the game) has offered even more variety.

    Many of the customisation options have been explicitly related to characters’ identities, and the series has gradually improved its representation. For instance, while the original game already included same-sex relationships, The Sims 2 included a “joined union” option which was similar to marriage. By The Sims 3, same-sex couples could marry with no distinction from opposite-sex couples. Similar developments have taken place in the diversity of skin tones and gender identities as the series progressed.




    Read more:
    Why The Sims 4’s new inclusion of transgender and disabled sims matters


    As a result of these inclusive changes, players enjoy gaming experiences as diverse as they are.

    Phillip Ring, executive producer on The Sims 4, provided an overview of the game’s demographics in a Game Developers Conference talk in 2023. Only 21% of Sims players are men, while 55% identify as heterosexual and 62% as white. Ring explained how the game’s developers, Maxis and Electronic Arts, consider equality, diversity and inclusion as part of hiring, development and engaging with the player community. Active inclusivity has become an essential part of The Sims design.

    None of this touts The Sims as a digital utopia. The franchise has been criticised for its consumerist ideology, and much of its progressive content has been deeply controversial in different territories of the game’s release.

    Katy Perry records Last Friday Night in Simlish.

    For better or worse, the game has both reflected and shaped pop culture – which brings us back to Katy Perry. The Simlish version of her song may sound nonsensical, but it reflected a cultural moment – the post-feminist, anthemic pop of the 2010s.

    That moment has now passed. In a post-Brat summer era, Perry’s Sims moment feels outdated. The Sims, however, remains relevant, evolving alongside popular culture.

    In his book Understanding Video Game Music (2016), musicologist Tim Summers interprets Simlish rerecordings as satires of contemporary pop culture. I disagree. Instead, I believe Simlish is designed to let players “fill in the blanks”, using their imagination to shape meaning.

    This has always been central to The Sims – allowing players to project their own stories onto a world within the cultural zeitgeist. Many of us grew up with The Sims. As we’ve evolved, so has the game – which remains a dynamic cultural artefact.


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    Andra Ivănescu is the recepient of a British Academy/Leverhulme Small Research Grant for her project Gaming Censorship: Videogame Content Regulation in the UK.

    ref. How The Sims’ endless customisation fostered one of gaming’s most diverse player communities – https://theconversation.com/how-the-sims-endless-customisation-fostered-one-of-gamings-most-diverse-player-communities-248686

    MIL OSI – Global Reports

  • MIL-OSI Global: How The Sims accidentally invented the cosy game genre

    Source: The Conversation – UK – By Adam Jerrett, Lecturer, Faculty of Creative & Cultural Industries, University of Portsmouth

    Ooboo Vroose Baa Dooo! That’s “happy birthday” in Simlish, the delightfully nonsensical language of The Sims. The life simulation video game franchise turns 25 this year, making me feel officially old.

    Like many others, I grew up playing The Sims, oscillating between designing dream homes and orchestrating ideal careers, and trapping my Sim characters in a tiny block room, removing all the doors and watching the chaos ensue. For the more benevolent among us, The Sims was an endlessly rewarding digital dollhouse.

    Game designer Sid Meier (creator of the Civilisation series) defines a video game as “a series of interesting decisions”. In most games, interesting decisions are about which gun to use or which party member to heal. The Sims’ interesting decisions, however, were far more mundane. “What clothes should I make my simulated human (typically a digital avatar of myself or my friends) wear?”; “Who should they date?”; and, most importantly: “Should I use the ‘rosebud’ cheat to give myself infinite money?”

    The Sims went on to become one of the bestselling franchises of all time, with myriad sequels, expansions and an obsessed player base. While similar titles at the time, such as Black and White, had you playing as an omnipotent god, they were primarily strategy games based around controlling territory. What made The Sims special was its focus on emergent narratives – player-driven experiences where players could create their own stories.


    Sul Sul! This article is part of a mini series from The Conversation marking 25 years of The Sims franchise.


    Much of this focus is also present in what is now called the “cosy game” genre. These are games that focus not on conflict or challenges, but rather on creativity, exploration and personal expression.

    Before Stardew Valley let us befriend a moody fisherman, Animal Crossing allowed us to be financially terrorised by a raccoon, and Unpacking made us cry over a box of kitchen utensils, The Sims showed us a new way to play. One where the biggest challenge was forgetting to pay your bills, and the most rewarding accomplishment was finally affording a pool (whose exit ladder may or may not just have mysteriously disappeared).

    This normalised the idea that games didn’t need to be won to be fun. It was a shift in design philosophy that paved the way for later games that let players tend a farm, manage a café, or befriend ghosts without a game-defined goal.

    A trailer for one of the more recent expansion packs, Cottage Living.

    The Sims was less about victory than it was about making your own fun – whether that meant imagining your future family life with your crush, or seeing how well you could build your Sim’s career from the ground up before succumbing to late-stage capitalism.

    Copying The Sims’ homework

    Many features that define the cosy game genre today trace directly back to The Sims. It popularised meticulous environment building and customisation tools, for example, from house layouts to outfit choices and suspiciously elaborate hedge mazes. This DNA is the bedrock of many modern cosy games, like Tiny Glade’s whimsical castle-building or pandemic hit Animal Crossing: New Horizons’ island growing.

    The Sims was free from combat or major stressors (unless you count fire hazards and rogue Grim Reapers). No timers, no pressure – just vibes (unless you forgot to build a toilet, in which case the vibes would be bad). You could play at your own pace, which came to define other self-paced games like A Short Hike.


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    Much of The Sims was about the relationships between the Sims themselves. They could get married, have children, make friends and even enemies. Instead of fighting for survival, Sims were fighting for their relationships.

    This was augmented by a growing “machinima” fan culture, where players made short films and movies using in-game footage. These forms of emergent, social storytelling are a mainstay of modern gaming and meme culture, made even more prevalent by social media and the “share” buttons now on many game controllers.

    In this work of machinima, a Sims player has made a sitcom trailer using footage from their gameplay.

    Over the years, The Sims franchise has become a bastion for diversity, equity and inclusion. Most recently, that’s meant allowing players to create disabled and transgender Sims.

    This provides more representation to players, and showcases the importance of cosy games for exploring an array of identities, values and stories. The move has even inspired copycats like the upcoming Inzoi, which provides even more realistic graphics and complex life simulation, building on the formula introduced by Sims creator Will Wright all those years ago.

    For 25 years, The Sims has proven that games can be different. They don’t need conflict, challenge or even victory to be engaging. Sometimes, the real joy comes from designing an entire town, crafting a chaotic soap opera – or simply watching a Sim pace around a door-less room, gradually descending into madness.

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

    ref. How The Sims accidentally invented the cosy game genre – https://theconversation.com/how-the-sims-accidentally-invented-the-cosy-game-genre-248702

    MIL OSI – Global Reports

  • MIL-OSI Global: How to set healthy boundaries

    Source: The Conversation – Canada – By Gio Dolcecore, Assistant Professor, Social Work, Mount Royal University

    Boundaries are about what you do when something triggers an emotional response from you, and how you communicate to others what you are feeling. (Shutterstock)

    Setting our boundaries can sometimes be tough. Maybe you’re living with someone who’s always in your space. Or you’ve got that friend who feels a little too comfortable trauma-dumping on you. Maybe you feel your spouse isn’t respecting your choices.

    Whatever the reason, telling others how you feel isn’t always easy. And it can be difficult to figure out where to draw your lines and how to communicate them to others.

    There’s also a lot of misunderstanding about what boundaries are and what they aren’t. The prevalence of “therapy-speak” can make figuring that out even harder.

    Setting boundaries can often seem complicated and feel uncomfortable. That’s because it can take a lot of courage to stick up for yourself. It also takes a lot of emotional regulation and self-awareness.

    However, setting boundaries doesn’t have to be a daunting prospect. Taking time to figure out how to communicate them effectively can lead to healthier relationships with the people in your life.


    Ready to make a change? The Quarter Life Glow-up is a new, six-week newsletter course from The Conversation’s UK and Canada editions.

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    Setting healthy boundaries

    Think of boundaries as promises you make to yourself about how you will respond to others when their actions or words conflict with your self-worth, communication style and relationship expectations. Things that influence our beliefs towards boundaries can include our cultural, religious and political identities.

    Boundaries are about what you do when something triggers an emotional response from you, and how you communicate to others what you are feeling. Boundaries are not about telling others what to do or how to feel.

    People in different places approach them in different ways. American authors like Brené Brown see boundaries as a way of loving ourselves by saying no, even if that means we let someone else down.

    Looking at cultures around the world can also help us learn more about the intricate relationship between boundaries, communication style and relationship expectations. For example, in Iran the term gheirat refers to a moral-emotional experience. It is a concept referring to an experience when there is a violation involving people, such as romantic partners, family dynamics and politics.

    A healthy boundary can be invitational, meaning you are inviting others to participate in the problem-solving process. In relationships we have to balance our feelings, their feelings and what is needed for the relationship to blossom. This tricky balance means inviting others in, while indicating what is needed for you to safely participate.

    For example saying “let’s finish this conversation when neither of us is raising our voices” is a healthy way of setting a boundary compared to “leave me alone right now” or “don’t speak to me like that.”

    Telling someone not to speak to you during a hard conversation can sound dismissive of their feelings, especially if they’re feeling unheard. The boundary is not about the conversation ending, it’s about what is needed for the conversation to continue in a respectful way.

    You don’t always owe others your time to communicate and explain what you need. Sometimes, it’s about walking away from a situation that you know isn’t serving you.
    (Shutterstock)

    Communication is key

    Healthy boundaries can be a way to mutually emotionally regulate. For example, saying “it makes me uncomfortable when you tell your friends personal details about our relationship” is offering others two opportunities. The first, awareness of how their actions are making you feel. And second, the opportunity to problem-solve with you.

    Most people will respond by explaining why they are doing what they are doing. With that information, you can decide how you want to respond. Maybe they’re choosing to disclose information to their friends because they rely on external processing to help make decisions. Or maybe they’re looking for external validation. You get to choose how to respond now that you have their rationale.

    As a therapist, I often tell clients you have options when it comes to setting and maintaining boundaries. The next time you have to set a boundary, think of the following tips.

    Do:

    • Express how you’re feeling in response to someone’s actions or inaction.

    • Identify your priorities and know your limits. Provide an opportunity for repair.

    • If someone tells you why they did what they did, remind them it’s important for you they recognize how you’re feeling versus rationalizing their behaviour.

    Don’t:

    • Tell someone how to act or feel.

    • Expect others to know what you need or what you’re thinking.

    • Rely on others to uphold your boundaries.

    You don’t always owe others your time to communicate and explain what you need. Sometimes, it’s about walking away from a situation that you know isn’t serving you. Based on how you observe people living their life, how they talk about social or political issues, conduct themselves when you express your feelings, you can choose not to give people access to your life.

    Sometimes walking away is about preserving your self-worth, especially after you’ve tried communicating and problem solving. This is where boundaries become hard to maintain, because we have to determine whether someone’s actions are enough to protect ourselves and uphold our self worth.

    However you choose to set your boundaries, communicating them honestly and calmly is key to getting others to understand and respect them.

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

    ref. How to set healthy boundaries – https://theconversation.com/how-to-set-healthy-boundaries-237745

    MIL OSI – Global Reports

  • MIL-OSI United Kingdom: St Albans Spring Festival – thousands expected at an exciting new street event in May

    Source: St Albans City and District

    Publication date:

    An exciting new street event is to be held in St Albans City Centre featuring free entertainment for everyone.

    The St Albans Spring Festival on Sunday 18 May will be a celebration of food, well-being, community spirit and sustainability.

    Thousands of people are expected at the street party which will take place from 11am to 5pm, with St Peter’s Street closed to traffic. 

    Among the attractions will be live music, arts and crafts, street theatre and dozens of stalls selling takeaway food, drink and other produce. There will be opportunities to learn, play and create with fun activities.

    To ensure accessibility, sighted guides and British sign language interpreters will be in attendance.

    St Albans City and District Council is organising the Festival and will also be bringing back its popular Christmas Cracker, the event which launches the festive season in the District. This will be held on Sunday 16 November.

    The St Albans Feastival, usually staged in September, will not take place this year with May’s Spring Festival being used instead to highlight the District’s hospitality businesses and tourism offering.

    Councillor Anthony Rowlands, Lead for Events, said:

    We have rearranged our street events to give our residents an excellent choice of things to do from May all the way through to November.

    Our Feastival was held in September, but there are a lot of things going on in the late summer, such as Pub in the Park, and it was felt May was a better date for an event.

    The Spring Festival will mark the start of the warmer months and with the Cracker in November, our events will book- end the outdoor season.

    During that time, from May through to November, there will be many other events, run by a host of organisations. Residents and visitors will have an abundance of opportunities to get out and about and socialise with their friends and neighbours.

    More details about the Spring Festival entertainment will appear in the Council’s social media channels in the run-up to the event.

    Among the other events to be held in the District this year are: 

    Hertfordshire County Show, Redbourn – Saturday 24 and Sunday 25 May.

    Foodies Festival, Oaklands College, St Albans – Friday 30 May to Sunday 1 June.

    Harpenden Carnival – Saturday 7 June.

    St Albans Half Marathon, Verulamium Park, St Albans – Sunday 8 June.

    Alban Day, a procession of giant puppets recreating the story of St Alban through the City to the Cathedral – Saturday 21 June.

    Highland Gathering, Rothamsted Park, Harpenden – Sunday 13 July.

    Comedy Garden, Verulamium Park, St Albans – Wednesday 23 to Sunday 27 July.

    Classics on the Common, Harpenden – Wednesday 23 July.

    Pub in the Park, Verulamium Park, St Albans – Friday 5 to Sunday 7 September

    Harpenden Food and Drink Festival – Saturday 13 September

    Gin and Jazz Festival, George Street, St Albans – Friday 3 October.

    St Albans Cathedral Fireworks – Saturday 1 November

    St Albans Christmas Cracker, St Peter’s Street – Sunday 16 November.

    Harpenden Christmas Carnival – Sunday 23 November.

    Photo: scene from a street event last year.

    Media contact:  John McJannet, Principal Communications Officer: 01727- 819533; john.mcjannet@stalbans.gov.uk.

    MIL OSI United Kingdom

  • MIL-OSI Russia: Marat Khusnullin: Rosreestr is implementing a pilot project to involve unused real estate objects into circulation and fill the Unified State Register of Real Estate

    Translartion. Region: Russians Fedetion –

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

    The government is strengthening its comprehensive work to identify, record and involve unused real estate objects into circulation. This will ensure the completeness and quality of information in the Unified State Register of Real Estate (USRRE) by the end of 2030 and involve unused land plots and territories into economic circulation.

    “Since 2021, these issues have been addressed, among other things, within the framework of the state program “National Spatial Data System”. During this time, Rosreestr and the Roscadastre sub-company have entered 191 boundaries between subjects and 1.85 thousand boundaries of municipalities into the Unified State Register. Three times more than in the previous 10 years, the boundaries of territorial zones were entered – 298.6 thousand. 1.9 million registry errors were corrected. The number of objects with copyright holders increased by 18.1 million. At the same time, despite the significant dynamics, there is still a lot of work left. In order to complete it within the deadline set by the state program, by the end of 2030, this activity will be intensified. Rosreestr has launched a pilot project that will intensify the creation of a complete and accurate real estate register in the regions and identify new sites and territories for inclusion in economic circulation,” said Deputy Prime Minister Marat Khusnullin.

    Currently, the pilot project is being implemented in individual municipalities of 16 regions – in the Kostroma, Lipetsk, Novgorod, Omsk, Penza, Pskov, Smolensk, Tambov, Ulyanovsk regions, Primorsky and Khabarovsk territories, the republics of Mari El, Mordovia, the Chuvash Republic, the Jewish Autonomous Region and the Khanty-Mansi Autonomous Okrug.

    “In fact, a complete inventory of lands and property is being carried out, which will allow us to collect and summarize information about all real estate objects. At present, the work has been completed in 71 settlements, and is ongoing in 38 more. As a result, information about the title holders has been identified for 8.3 thousand real estate objects, information about the boundaries of 18.7 thousand land plots and capital construction projects has been clarified, and 3.2 thousand hectares of territory suitable for inclusion in circulation have been identified,” noted Oleg Skufinsky, head of Rosreestr.

    The project is being implemented within the framework of an agreement concluded between Rosreestr, the head of the region and the public-law company Roskadastr (which is the contractor). After the creation of an operational headquarters in the subject and the approval of the “road map”, work begins on the analysis of archival documents, including cartographic materials, and a survey of the territories.

    The results of the work are entered into the Unified State Register of Real Estate and the National Spatial Data System. Rosreestr provides organizational, coordination and methodological support for the pilot project on an ongoing basis.

    Today, in the land and real estate sector, there are still historically accumulated problems of missing information in the Unified State Register of Real Estate and other registries. There is no information about the owners of 29.9 million objects, and the boundaries of 17.4 million land plots have not been established. There is still a shortage of available land for provision to citizens, legal entities and investors.

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

    MIL OSI Russia News

  • MIL-OSI USA: Natural gas spot prices fell across key regional trading hubs in 2024

    Source: US Energy Information Administration

    In-brief analysis

    February 3, 2025

    Data source: Natural Gas Intelligence
    Note: Prices are adjusted for inflation based on the December 2024 Consumer Price Index.


    Average natural gas spot prices at most major trading hubs in the Lower 48 states declined in 2024 compared with 2023 in real terms, according to data from Natural Gas Intelligence.

    Inflation-adjusted natural gas prices in the Northeast at Algonquin Citygate and Eastern Gas South averaged 32 cents per million British thermal units (MMBtu) and 6 cents/MMBtu lower in 2024, respectively, and western prices at Northwest Sumas and SoCal Citygate averaged $2.51/MMBtu and $4.55/MMBtu lower compared with 2023, respectively. In West Texas, prices at the Waha Hub near Permian Basin production activities traded below zero for 42% of trading days in 2024 as natural gas production from the Permian Basin outpaced available pipeline takeaway capacity. The Matterhorn Express Pipeline, capable of carrying 2.5 billion cubic feet per day from the Permian Basin to demand centers on the Texas coast, entered service in October 2024 and helped clear some of the regional production bottleneck. Since mid-November the price at the Waha Hub has been more than zero.

    Prices at regional trading hubs decreased last year primarily because of relatively high natural gas inventories in each of the storage regions, sustained U.S. natural gas production, and mild winter temperatures. Because of relatively warm winter temperatures, particularly in the Northeast and Midwest (the largest consumers of natural gas for space heating), regional natural gas storage levels remained above the five year (2019–23) average for most of 2024.

    Spot natural gas prices at the Henry Hub in Erath, Louisiana, which serves as the U.S. benchmark, averaged $2.22/MMBtu in 2024, the lowest average annual price in inflation-adjusted dollars ever reported.

    Principal contributor: Andrew Iraola

    MIL OSI USA News

  • MIL-OSI: Form 8.3 – Renewi Plc

    Source: GlobeNewswire (MIL-OSI)

    8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: Rathbones Group Plc
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
     
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree
    Renewi Plc
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:  
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure
    31/01/2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”
    No

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: £1 Ordinary Shares
      Interests Short positions
      Number % Number %
    (1)   Relevant securities owned and/or controlled: 1,374,666 1.70%    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        

            TOTAL:

    1,374,666 1.70%    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    £1 Ordinary Shares Sale 3,333 802.2835p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD
    Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position
    Number of reference securities Price per unit
             

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.
    Expiry date Option money paid/ received per unit
                   

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option
    Exercising/ exercised against Number of securities Exercise price per unit
             

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion
    Details Price per unit (if applicable)
           

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
    None

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
    None

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? No
    Date of disclosure: 03/02/2025
    Contact name: Chinwe Enyi – Compliance Department
    Telephone number: 0151 243 7053

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at.

    The MIL Network

  • MIL-OSI: Form 8.3 – Warpaint London Plc

    Source: GlobeNewswire (MIL-OSI)

    8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: Rathbones Group Plc
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
     
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree
    Warpaint London Plc
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:  
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure
    31/01/2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”
    No

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 25p Ordinary Shares
      Interests Short positions
      Number % Number %
    (1)   Relevant securities owned and/or controlled: 3,078,793 3.81%    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        

            TOTAL:

    3,078,793 3.81%    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    25p Ordinary Shares Sale 215 511.5001p
    25p Ordinary Shares Sale 90 515p
    25p Ordinary Shares Purchase 505 517p
    25p Ordinary Shares Purchase 800 516.065p
    25p Ordinary Shares Purchase 7,500 515p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD
    Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position
    Number of reference securities Price per unit
             

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.
    Expiry date Option money paid/ received per unit
                   

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option
    Exercising/ exercised against Number of securities Exercise price per unit
             

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion
    Details Price per unit (if applicable)
           

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
    None

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
    None

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? No
    Date of disclosure: 03/02/2025
    Contact name: Chinwe Enyi – Compliance Department
    Telephone number: 0151 243 7053

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at.

    The MIL Network

  • MIL-OSI: LeddarTech Announces First OEM Design Win for LeddarVision ADAS Solution

    Source: GlobeNewswire (MIL-OSI)

    QUEBEC CITY, Canada, Feb. 03, 2025 (GLOBE NEWSWIRE) — LeddarTech® Holdings Inc. (“LeddarTech”) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology, LeddarVision™, today announced a major milestone: one of the world’s leading commercial vehicle OEMs (original equipment manufacturers) has selected LeddarTech as the fusion and perception software supplier for their advanced driver assistance system (ADAS) program for 2028 model year vehicles.

    LeddarVision was selected for this mainstream commercial vehicle platform after a comprehensive evaluation by the customer of the leading solutions available in the market today. LeddarVision stood out for its superior performance and efficiency in a multi-modal sensor system with both cameras and radars, and the ability to scale to various models and sensor configurations. LeddarTech revenue from this design win is expected to begin in 2025 for engineering services, with per-vehicle royalty revenue anticipated in late 2027. While project work is to commence immediately, the arrangement remains subject to the parties entering into definitive agreements.

    “This award comes on the heels of the recently announced Texas Instruments collaboration and license agreement with close to US$ 10 million in pre-paid royalties. These developments evidence the industry’s pivot towards low-level fusion―an approach pioneered by LeddarTech―that enables cost-effective deployment of L2/L2+ ADAS for commercial and passenger vehicles and our leadership position in multi-modal, low-level fusion and perception software,” said Frantz Saintellemy, president and CEO of LeddarTech. “These wins also reflect the momentum that is building with our business.”

    LeddarTech’s LeddarVision platform delivers an environmental model that enhances driver safety and enables greater autonomy. By leveraging cutting-edge AI and sensor fusion technology, LeddarTech enables automotive OEMs to meet increasingly challenging industry safety standards while addressing consumer demands for more advanced ADAS features.

    About LeddarTech

    A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.

    LeddarTech is responsible for several remote-sensing innovations, with over 170 patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.

    Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter (X), Facebook and YouTube.

    Forward-Looking Statements

    Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech’s selection by the OEM referred to above, anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the risk that LeddarTech and the OEM referred to above are unable to agree to final terms in definitive agreements; (ii) the volume of future orders (if any) from this OEM, actual revenue derived from expected orders, and timing of revenue, if any; (iii) the possibility that anticipated benefits of LeddarTech’s recent business combination will not be realized; (iv) the risk that shareholder litigation in connection with the business combination or other settlements or investigations may result in significant costs of defense, indemnification and liability; (v) changes in general economic and/or industry-specific conditions; (vi) possible disruptions from the business combination that could harm LeddarTech’s business; (vii) the ability of LeddarTech to retain, attract and hire key personnel; (viii) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties; (ix) potential business uncertainty, including changes to existing business relationships following the business combination that could affect LeddarTech’s financial performance; (x) legislative, regulatory and economic developments; (xi) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak or escalation of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID‑19), as well as management’s response to any of the aforementioned factors; (xii) access to capital and financing and LeddarTech’s ability to maintain compliance with debt covenants; (xiii) LeddarTech’s ability to execute its business model, achieve design wins and generate meaningful revenue; and (xiv) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Annual Report on Form 20-F for the fiscal year ended September 30, 2024. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Chris Stewart, Chief Financial Officer, LeddarTech Holdings Inc.
    Tel.: + 1-514-427-0858, chris.stewart@leddartech.com

    Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

    LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”

    The MIL Network

  • MIL-OSI: FLYR Welcomes Thomas Fuss as Chief Technology Officer

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO and AMSTERDAM, Feb. 03, 2025 (GLOBE NEWSWIRE) — FLYR, the technology company that unlocks freedom to innovate for the travel industry, today announced the arrival of Thomas Fuss as its new Chief Technology Officer. Thomas joins FLYR with a wealth of experience in leading technology teams at hypergrowth companies across several industries.

    Thomas comes to FLYR from Backbase, where he played a pivotal role as Backbase’s CTO in driving the company’s transformation to 10x the company’s revenue during his tenure. At Backbase, Thomas led initiatives that modernized the financial technology landscape, building platform-as-a-service solutions and overseeing global scaling efforts. His work not only disrupted incumbents in the financial sector but also ensured the wellbeing of millions of end-users.

    “We are very excited to have Thomas join the FLYR crew,” said Alex Mans, Founder and CEO of FLYR. “As a lifelong technologist and engineer at heart, Thomas understands how to lead a team in times of rapid growth — critical capabilities for us as we continue to scale up and unlock freedom to innovate for the travel industry. His leadership and vision will help drive the next chapter of growth for FLYR and our customers.”

    “FLYR’s mission to disrupt the airline industry and lead clients into a digital future resonates deeply with me,” said Thomas Fuss, CTO, FLYR. “Having spent my career bridging the gap between complex systems and customer-centric solutions, I see tremendous opportunities to make a difference. The travel industry is ripe for transformation, and FLYR’s work is not only reshaping airlines but also enhancing experiences for travelers worldwide. I’m excited to bring everything I’ve learned from the financial sector to help FLYR scale globally and achieve its ambitious vision.”

    Thomas’s career began with roles at SAP and ING Bank, where he led innovation initiatives for five years. He has also founded two companies, including Payconiq, a mobile payments innovation initiative, further underscoring his entrepreneurial spirit and commitment to driving technological advancements.

    Thomas will be based in FLYR’s Amsterdam office. For more information on FLYR, please visit FLYR.com.

    About FLYR
    FLYR is a technology company that unlocks freedom to innovate for the travel industry – eliminating legacy constraints to enable real-time decision making and create the experiences travelers seek. Cloud native, FLYR leverages technologies including deep learning, an advanced form of AI. FLYR is helping airlines and hospitality businesses around the globe improve revenue performance, reduce cost, and modernize their e-commerce experience. Learn more at flyr.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ed16b6d6-cdbc-494b-841f-c33cad89613f

    The MIL Network

  • MIL-OSI Russia: Rosneft held a series of ski races dedicated to the 80th anniversary of Victory

    Translartion. Region: Russians Fedetion –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    Rosneft organized a corporate ski race in Nefteyugansk. More than 450 athletes from the Company’s subsidiaries and family members of oil workers working in several regions of Russia took part in the corporate winter race “Rosneft Ski Track”. Representatives of the “Movement of the First” joined the mass race.

    Earlier this winter season, mass races “Rosneft Ski Track” were held in Angarsk, Ufa and Krasnoyarsk. The total number of participants reached almost 1,500 athletes. The Company dedicated mass amateur competitions to the 80th anniversary of the Victory in the Great Patriotic War, which the entire country is preparing to celebrate this year.

    In Nefteyugansk, five distances were prepared for skiers of various age categories – from 500 m to 10 km. Schoolchildren from the “First Movement” went out in whole classes for some distances.

    Despite the fact that the races have an amateur status, the level of their organization is not inferior to professional competitions. All conditions were created for oil industry athletes and guests of the event. A field kitchen with hot dishes and hot tea was operating at the races, sports equipment rental was organized, places for preparing skis, heated changing rooms and rest areas were equipped. A cultural and entertainment program was prepared for young athletes, a children’s corner and an animator worked.

    The winners of the competition in 13 age groups were determined by professional judges.

    Support for mass sports is one of the key areas of social work for Rosneft and its subsidiaries. The company carries out large-scale work to promote sports and a healthy lifestyle among both its own employees and the population in the regions where the Company operates.

    Ice arenas, sports complexes and multifunctional sports grounds are built in the regions with the funds of the Company and its subsidiaries. The Company also provides support to amateur and mass sports.

    Department of Information and Advertising of PJSC NK Rosneft February 3, 2025

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

    MIL OSI Russia News

  • MIL-OSI Security: USNMRTC Sigonella Expands Trauma Readiness with ATLS Certification

    Source: United States Navy (Medical)

    USNMRTC Sigonella Expands Trauma Readiness with ATLS Certification

    By: CDR Radhames E. Lizardo
    January 29, 2025

    Sigonella, Italy – In a major step toward enhancing medical readiness, U.S. Naval Medicine Readiness and Training Command (USNMRTC) Sigonella partnered with Landstuhl Regional Medical Center (LRMC) to bring the Advanced Trauma Life Support (ATLS) course to its medical personnel. This milestone marks a significant achievement for the small overseas command, equipping its healthcare professionals with critical trauma management skills.

    Over two intensive 12-hour days, nine students completed rigorous academic and practical training in ATLS. The course covered life-saving techniques, including chest tube placement, cricothyrotomy procedures, Focused Assessment with Sonography in Trauma (FAST) exams, and pelvic binder application. The training culminated in the certification of all nine participants and the development of a new ATLS instructor, further strengthening the command’s ability to sustain and expand this vital program.

    “This training is a game-changer for our medical team,” said Lieutenant Kristen Shafer [ER Physician & ATLS Instructor]. “By enhancing our trauma management capabilities, we are not only improving our confidence but also ensuring that we are prepared to respond effectively in high-pressure situations.”

    The introduction of ATLS at USNMRTC Sigonella aligns with the command’s commitment to support the U.S. Navy Surgeon General’s Line of Effort 3 to “Provide Quality Healthcare and Patient Safety Programs Across the Naval Force.” Looking ahead, the command aims to continue offering this program, fostering a culture of excellence and preparedness in trauma care.

    As a forward-deployed medical facility, USNMRTC Sigonella plays a crucial role in supporting service members and their families in the region. By integrating ATLS training into its readiness efforts, the command reaffirms its dedication to providing high-quality, immediate care when it matters most.

    USNMRTC Sigonella is one of The Defense Health Agency’s Overseas Military Treatment Facilities (MTF). The staff are comprised of active duty service members, General Service (GS), contractors, and Local Nationals. It ensures maximum readiness by providing high-quality, safe patient and family-centered care to maximize force health protection for all beneficiaries, to included NATO and transient DoD forces in the U.S. Fifth Fleet and U.S. Sixth Fleet areas of operation.

    MIL Security OSI

  • MIL-OSI United Kingdom: Mayor funds new £5.4million service to ensure vulnerable adults are properly safeguarded when in contact with police

    Source: Mayor of London

    • New £5.4million service funded by Sadiq will ensure that vulnerable adults across London have quick access to an independent appropriate adult to support them when in contact with the police.
    • The first-ever London wide scheme will safeguard the rights, entitlements, and welfare of vulnerable adults for police processes including voluntary interviews and eye-witness testimonies.
    • The new approach is part of a package of measures from City Hall to support the Met to improve the service it delivers for all Londoners, building on their hard work to exit special measures.

     

    The Mayor of London, Sadiq Khan, has launched a new £5.4miliion service to ensure vulnerable adults in contact with the police, including those taking part in voluntary police interviews, have timely access to an independent appropriate adult to support them.

    The first-ever London wide scheme will safeguard the rights, entitlements and welfare of vulnerable adults, ensuring that they are treated in a fair and just manner, and are able to participate in police proceedings effectively.

    The new approach is part a package of measures being funded by the Mayor to improve the service all Londoners receive from the police. It builds on the hard work of the Met to exit special measures and to respond to Baroness Casey’s review into the standards and culture at the Met Police.

    In the UK, it’s a legal requirement for any child or any adult assessed as vulnerable to have an independent appropriate adult with them in any police interview[1], but until now, in London, no single agency has been responsible for providing this support, leading to inconsistency and gaps in provision, costly delays and pressure on resources. The new service will complement the work underway by the Met and the Mayor’s office for Policing and Crime (MOPAC) to address Baroness Casey’s recommendations to increase confidence, trust and fairness amongst Londoners through the Commissioner’s New Met for London Plan[2].

    The action by the Mayor also comes as figures show demand for appropriate adults increased by 10 per cent between 2019 and 2023 when more than 18,500 adults experiencing police custody or taking part in voluntary interviews with the police were assessed as vulnerable and requiring support to ensure their rights were safeguarded[3].

    A person is considered vulnerable if a police officer deems that they may be prone to confusion, compliance or could unintentionally provide unreliable, misleading, or self-incriminating information. The new service will ensure that all those considered vulnerable are appropriately safeguarded and instil within them the trust and confidence that they will be treated fairly by the judicial system.

    Adults with mental health issues and those with learning difficulties are just some of those who will benefit from the London-wide scheme and be assigned an appropriate adult to support them through a number of police processes – including during searches, interviews and eyewitness identification procedures[4].

    The new £5.4miliion fund is the latest part of the Mayor’s record investment in the Met to raise standards, improve performance and help rebuild the trust and confidence of all of London’s communities in the Met police service.

    The Mayor of London, Sadiq Khan, said: “Providing eye-witness statements and giving voluntary police interviews can be an extremely stressful time for anyone, so it is vital that the right support is available for those who are vulnerable and need assistance to help them understand their situation and ensure they are treated fairly and appropriately.

    “My new London-wide appropriate adult scheme will guarantee timely access to the right support, reducing delays in custody which can have huge emotional, practical as well as financial cost.

    “The service will also ensure that those from vulnerable communities have the confidence that they will be treated fairly, be believed, and can ultimately trust our policing and judicial system, which is vital to building a safer, fairer London for everyone.”

    Geraldine Evans, Director of AAUK, said: “Our role as Appropriate Adults is essential in safeguarding the rights and wellbeing of vulnerable individuals. This partnership ensures they receive the necessary support to successfully navigate the complexities of the criminal justice system.

    “The initiative underscores the shared commitment of MOPAC, MPS, and AAUK to uphold the rights of vulnerable individuals, promoting a standardised approach to service delivery, and guaranteeing that all vulnerable adults receive equal levels of professional care and support.”

     Chris Bath, Chief Executive at National Appropriate Adult Network (NAAN), said: “Across the country, the lack of a legal duty to provide appropriate adults for vulnerable adults in police custody continues to undermine fairness and justice—a national issue left unaddressed for over 40 years.

    “This inspiring example of local leadership will enhance police efficiency while ensuring vulnerable Londoners have access to high-quality, independent support to protect their rights and welfare.”

    Alex Hawkins, CEO of The Appropriate Adult Service Ltd, said: “The Appropriate Adult Service (TAAS) is delighted to be working with MOPAC to provide essential support for vulnerable adults in police custody across London. MOPAC’s leadership in ensuring the provision of appropriate adults for vulnerable individuals marks a significant step forward.

    “By working in partnership with The National Appropriate Adult Network and key figures within the criminal justice system, they are strengthening the campaign to secure statutory protection for all vulnerable adults.”

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Education Secretary speech on new era of school standards

    Source: United Kingdom – Executive Government & Departments

    Speaking at the Centre for Social Justice, Bridget Phillipson laid out plans for a new era of school standards delivering on the Plan for Change.

    Good morning, everyone.

    Thanks so much for being here. And thanks to the Centre for Social Justice for hosting us. And thanks to Andy.

    It’s great to be back here, this time as Education Secretary, six months into delivering our Plan for Change.

    I know CSJ shares this government’s commitment to ensuring that, whoever you are, wherever you come from, ours should be a country where hard work means you don’t just get by but you get on.

    Some of you were here last year, when I started my speech with a story. And today I want to start with a story too:

    A story about how and why the change I am bringing to the education system matters to me.

    It’s my story.

    I grew up in the late ’80s and early ’90s, a shy little girl, from a tough street in the northeast of England, [political content removed]

    I never met my dad. It was just me and my mum – and my grandparents who lived nearby.

    We didn’t have much. One winter, a neighbour, who himself, he didn’t have very much, found out I’d been playing outside wearing only a jumper.

    He put money through the letterbox in an envelope marked “for Bridget’s coat”.

    Now, not everyone turned to kindness. Crime was a big problem. Our house was burgled time and again.

    And when my mum reported it to the police, our windows were put out, a man turned up with a baseball bat.

    It didn’t seem like that big a deal at the time. These were just things that happened, and frankly not just to us.

    I think often of the children I knew then, held back by who they were, by where they were born.

    So many on my street were denied the opportunity to get on and to succeed.

    Not because they were lazy, they weren’t. 

    They were no less talented than I was, no less ambitious, no less deserving of success.

    But I was given the opportunities that they were denied. I went to great schools, I was taught by wonderful teachers, I had a family that prized learning.

    I was in the very first full cohort to sit SATs tests at Key Stage 1, 2 and 3. I benefited from the national curriculum brought in by a [political content removed] government.

    My school took up that challenge to push kids like me to achieve.

    I worked hard, of course I did.

    But I had the good luck to go to a great school, to have a family who cared deeply about education, a grandfather who read to me week in, week out.

    And like so many stories, this one has a moral lesson at its core.

    I am proof that the system can work, that a great education can be a transformational force, that background doesn’t have to be destiny.

    That belief formed then, is the core of my politics now.

    That the promise our children deserve, that hard work is what counts, no matter your background.

    I believe in that promise, in making that dream real.

    But I saw so many of my friends from my area let down, let down by a system that lacked a restless ambition for their futures, content, too often, to deliver a mediocre education, middling, in schools that drifted, an education that was seen as ‘just fine’ for ‘these kids’.

    For kids like me.

    Michael Gove used to call this ‘the soft bigotry of low expectations’ and with good reason: he was right.

    But I don’t need to be told about that. I grew up with it all around me, in my community, holding back my friends.

    I don’t forget. Not now. Not ever.

    It’s these memories of those injustices, the doors closed, the dreams stifled, the futures denied, that’s what drives me forward in this job.

    I get up every morning to right those wrongs.

    To break down the barriers to opportunity for each and every child.

    Background wasn’t my destiny.

    And I won’t rest until that is true for all children.

    That is my vision for education.

    Opportunity, for those children, for all children. That is our mission, driven by the Prime Minister’s Plan for Change.

    An excellent teacher for every child, a high-quality curriculum for every school, a core offer of excellence for every parent.

    Raising a floor of high standards, below which schools must not slip, above which schools can and must innovate, with no ceiling.

    Now, those memories are from a long time ago. And in the decades since, standards in England’s schools have risen, and millions of children have benefited.

    Our system now has many strengths, to build into that core. The greater use of evidence in classrooms across the country.

    No more flying blind, guided only by tradition.

    Now, what matters is what works [political content removed] reformed exams – more rigour, more challenge.

    Our national curriculum, a national strength, one from which we will build.

    Raising the floor, removing the ceiling.

    Take one example, one that matters immensely.

    Every child learns about the Holocaust, thanks to the national curriculum. That’s the floor we need.

    But teachers can then innovate in how they teach it.

    Stories from newspaper archives of troops finding concentration camps or hearing the testimonies of Holocaust survivors who have been immortalised using recordings and virtual reality technology.

    And now the Curriculum and Assessment Review will take us onward, delivering a core curriculum for all children that is deep and rigorous, knowledge-rich down to its bones.

    And that matters so much, knowledge is foundational, the building blocks of learning.

    It’s no use developing skills if children lack the knowledge to back it up and that curriculum must be taught by the very best teachers.

    As a profession as well as a calling, teaching has come on leaps and bounds, far ahead of when I was at school.

    The use of phonics is just one example where this has delivered for millions of children. Over 100,000 more children every year are securing the phonic foundations of reading since 2012.

    And we will continue down this proud path, for future generations.

    But now, right now, we need more teachers.

    That’s why we are committed to recruiting an additional six and a half thousand new expert teachers over the course of this parliament, ensuring we have more teachers where they are most needed across our colleges and our secondary schools, both mainstream and specialist.

    Because more teachers in our classrooms means more attention for our children. And that attention makes it easier to learn, and drives better attainment.

    More teaching, better learning.

    But more alone is not enough.

    I want to drive up the quality of teaching too.

    Building on the advances in teaching as a profession, and in teacher training.

    That’s why we are requiring all teachers to work towards qualified teacher status – and doubling down on evidence-based training.

    We’ll back our teachers with the very best AI, part of an exciting new wave of technology to modernise our education system.

    These changes are critical for all of our children. But nowhere are they more important than for our children with SEND.

    It’s hard to say about a system that today is failing so many, that there has been progress. The recognition of additional needs, the debate around how we support children with SEND is a sign of progress.

    But there is much, much more to do.

    We must set high expectations for all, spread pockets of excellence right throughout the system. 

    Focus on need and not diagnosis. With children able to access the right support more often in mainstream so that they can learn and thrive.

    Empower schools to intervene earlier, equipping them not just to support, but to excel for children with a range of different needs. Advances in the use of evidence, in the curriculum, in teaching.

    We’ll take that forward, delivering a new for generations of children.

    But perhaps the key driver of rising standards across our schools has been strong multi academy trusts.

    Take an example. Tanfield is a school that sits on the edge of Stanley, just ten miles west of where I grew up.

    Over the decades, tens of thousands of kids with backgrounds just like mine have walked through those school gates.

    And for a long time, the school meandered along, performing poorly, requiring improvement that never quite appeared, delivering outcomes never quite what they could be.

    A reality that year after year, kids were being denied the opportunity to achieve.

    Until Tanfield joined Eden Learning Trust in May 2020. And with a strong head teacher at the helm. That’s when the spark of progress finally arrived.

    The school is now rated as good on some measures, outstanding on others.

    Exam performance rising, above the national average.

    That story fills me with hope, because I know the difference a great school makes to so many children with backgrounds like mine, to severing the tie between background and destiny.

    Academy schools were a part of a great age of reform, from the mid-90s to 2015, a wave of changes that lifted standards for schools and life chances for children.

    Driven forward by a succession of great education reformers – from David Blunkett to Michael Gove, and a generation of dedicated and determined teachers.

    I recognise the focus on tackling low standards in inadequate schools, which previous governments of all parties shared.

    I celebrate the enormous effort by parents and school staff, to haul our entire system into a much better place.

    Strong academy trusts, top teachers, a core curriculum – these are our foundations.

    But sometimes I get the sense that people want to stop there.

    As if we can celebrate progress, but stop pushing for better.

    As if the drive for change, the impatience with failure – that these are the proud tales of yesterday, not the agenda for tomorrow.

    Because I tell you, this government is very clear.

    The journey isn’t over, the mission is never complete.

    It’s almost fifty years since James Callaghan gave a major speech about the purpose of our education system in our country.

    Elements of his challenge, to the established wisdom of his day, are sadly all too familiar.

    He spoke of a system that too often left young people neither ready for work, nor ready for life, the need for more young women to study science, the immense importance of numeracy for the next generation.

    And he spoke of his sympathy with the principle of a national curriculum, a principle that would fall to the next government to deliver.

    But today it is not simply the wisdom of that speech I have in mind.

    Callaghan knew the greatest truth about the determination that governments [political content removed] should have to drive change, for it was he who told us:

    “You never reach the promised land. You can march towards it.”

    So I tell you again, for me, for this government, we know that this march never ends.

    And yet today, the barriers to opportunity have grown only higher, and the stakes for our children are just as high.

    Stuck schools.

    Too many schools coasting.

    Delivering an education that, is just not the standard all children deserve.

    There are more than 600 schools in this country that are stuck, receiving consecutive poor Ofsted judgements.

    More than 300,000 children go to these schools. And what happens to these children?

    They leave primary school with results 14 percentage points worse.

    They leave secondary school with results one grade per subject worse.

    Their life chances, limited by the bad luck of going to a poor school.

    That is our inheritance.  And that is not good enough.

    Stuck schools are the new front in the fight against low expectations.

    I will not accept a system that is content for some to sink, even while others soar.

    These schools must improve, and with the right help, I know they can.

    Our proposals provide a response that is tailored, bespoke, effective – drawing on the insights of new Ofsted report cards.

    Improvement driven by new RISE teams, groups of leading experts who have been there and done it, with a track record of driving up standards.

    Turning around not just schools, but children’s lives.

    The best of the best when it comes to school improvement.

    They will work with schools to get to grips quickly with the problems Ofsted spots, backed with an initial £20m of funding.

    Up to £100,000 per school, dwarfing the basic £6,000 per school that was made available for these very schools by the last government, before being cancelled altogether with structural intervention as a necessary backstop if change does not come quickly enough.

    We now have our first 20 expert advisers in place – and teams are beginning their work with schools up and down the country.

    Trust leaders right at the centre.

    To work with us as partners in the push for better.

    Excellence – for every child.

    High and rising standards – for every child.

    Success – for every child.

    No more stuck schools drifting along.

    Tackling drift by reforming accountability and intervention.

    Now is the time for reform, for renewal, for modernisation.

    To take the whole school system forward.

    The way we hold schools accountable underpins it all.

    How we identify poor performance and drive change,

    To lift the life chances of children.

    We have a strong starting place. The improvements in inspection and accountability starting in the 90s have been instrumental for raising standards in our schools.

    With Ofsted’s role right at its heart.

    And to those who call for the abolition of a strong, independent, effective inspectorate, I have said before and I will say again: never.

    Never will we go back to those dark days of weak accountability.

    Because it was children from disadvantaged backgrounds who suffered the most.

    And because despite those improvements, there is still so far to go.

    So today I am taking us into a new era on school standards.

    Single headline grades were the right innovation at the right time. They brought proper scrutiny to all schools.

    But the time for change has come.

    They had become high stakes for schools but low information for parents.

    And for the challenges we now face, too blunt, too rough, too vague.

    How can it be right that so many critical decisions parents – choices that shape whole lives rest on a single word?

    It simply isn’t enough. Not for schools, not for families, and not for children.

    Our searchlight on poor performance must now become brighter

    to see the problems of today and tomorrow quickly and clearly.

    So a more rigorous system, raising the bar on expectations, on what good really looks like when it comes to the futures of our children.

    Because when we hear that 90% of schools are rated good or outstanding by Ofsted, it’s a reflection of millions of hours of hard work from teachers and leaders.

    But it’s a statistic, I’m afraid, that just no longer paints the full picture.

    Good as a judgement has become too vague to serve its purpose,

    When there are schools rated as “good” in both the top and bottom 1% for attainment.

    So just like we guard against grade inflation, to make sure that results really reflect the achievement of students, we must protect standards here too, because when almost 8 in 10 schools are graded as good, it’s time we bank that progress and take good to another level.

    The imprecision has left too many struggling schools without the support they need to improve.

    If the diagnosis isn’t clear, how can we be confident that the treatment will be right?

    And the change this government brings is one the public know is needed.

    Only 13% of those asked by Ofsted think that the notion that 90% of our schools are Good or Outstanding is truly reflective of the overall quality of schools.

    We need a more diagnostic approach – an approach that is restless and rigorous.

    Our proposals will swap single headline grades for the rich, granular insight of school report cards.

    Raising the bar on what we expect from schools. Shining a light on the areas that matter, each given their own grade.

    Identifying excellence and rooting out performance that falls short of expectations, so that parents have clearer, better information about their local schools.

    And that extra information will underpin changes in how we tackle poor performance.

    The worst performing schools, whether local authority maintained or academies – will be moved to a strong trust.

    That means new leadership brought in to boost the life chances of pupils.

    Children only get one chance: we won’t wait around while schools fail around them.

    And if school report cards identify even one area for improvement for a school, Ofsted will monitor progress, looking out for warning signals, government primed to step in for children, if required.

    The schools and trusts too, able to take swifter action from the more granular school report.

    Because being hands off, for school after school, for year after year, simply cannot be an option when the life chances of our children are at stake.

    And because we know that there is so much brilliance within our schools, so much to learn from and share.

    A new proposed top grade of ‘Exemplary’, for best-in-class practice in a specific area, when Ofsted judge that a school is doing something that is simply too good to be kept inside the school gates.

    Because this is a government that is never content, never complacent, never satisfied, when it comes to standards in schools.

    We want to spread that excellence

    To promote innovation,

    And it’s important we recognise that the best people to do that, the people who so often, will be doing that, are already standing in front of us.

    The best trusts, the best schools, the best leaders.

    Our RISE teams in time providing a universal service, will draw on them, their practice, their knowledge, their experience, helping good schools to become great and the great schools to become even better – spreading their excellence as they go.

    This is a new era in accountability for schools, a new era of relentless improvement. To drive up standards and open up opportunity for all.

    But a new spirit too – including with schools.

    A relationship to improve, not punish, to challenge, not to scold, based on shared aims, not shared hostility.

    An approach that recognises, that when all’s said and done, we all want the same thing.

    Better outcomes for children.

    When I first started in this job, I said I wanted to put education at the forefront of national life.

    So I am delighted to see the debate raging over our reforms – particularly since we introduced our Children’s Wellbeing and Schools Bill.

    I have to say, I welcome it.

    It is a sign that under this government, once again, education is coming back to the centre of national debate.

    I welcome spirited engagement, I welcome robust challenge, I welcome different views – and I will listen to them.

    That is how we shape the very best education system that our children deserve.

    And that’s why the changes we are making to accountability will draw on the wisdom of the entire sector.

    So I am pleased to announce a public consultation on our proposals for school accountability reform.

    Alongside that, Ofsted are consulting on their proposals for report cards and inspection structures.

    I want – we want – to hear the views of teachers and parents, schools and trusts – all those who care about our children’s futures.

    All parents worry about their children and that’s because they want so much for them.

    There were times when I was small when my mum worried about me.

    People would tell her that I had speech issues, because I talked so little.

    Well, I’m talking now.

    And to the young people, the families, who feel like they don’t have a voice, don’t have a future.

    I say this,

    Under this government, [Political content removed] no longer will where you’re from decide what you go on to do.

    Opportunity, for every child, in every school, in every part of the country.

    Everything I do as Secretary of State, I do for all children.

    The ones who grow up on streets like mine, who don’t – not yet – have a great school to go to, who are weighed down by their background.

    I am asking more of schools, of trusts, of parents, of Ofsted, of myself, and of this government.

    And I make no apologies for that,

    We need change, to turn the drift and delay of today, into the restless progress of tomorrow.

    Because I believe that background shouldn’t be destiny.

    I believe in the power of education to take us to a brighter future.

    And I believe each and every child in our country deserves nothing less.

    Thank you.

    Updates to this page

    Published 3 February 2025

    MIL OSI United Kingdom

  • MIL-OSI USA: Plant Power: A New Method to Model How Plants Move Water Globally

    Source: US State of Connecticut

    Earth systems models are an important tool for studying complex processes occurring around the planet, such as those in and between the atmosphere and biosphere, and they help researchers and policymakers better understand phenomena like climate change. Incorporating more data into these simulations can improve modeling accuracy; however, sometimes, this requires the arduous task of gathering millions of data points.

    Researchers, including UConn Department of Natural Resources and the Environment Assistant Professor James Knighton, Pablo Sanchez-Martinez from the University of Edinburgh, and Leander Anderegg from the University of California Santa Barbara, have developed a method to bypass the need for gathering data for over 55,000 tree species to better account for how plants influence the flow of water around the planet. Their findings are published in Nature Scientific Data.

    Plants play essential roles in Earth’s processes, from capturing carbon and making oxygen available for other life forms like humans. Plants are also responsible for the movement of water, says Knighton, where an estimated 60% of all rain is returned to the atmosphere through transpiration. This huge global-scale movement of water through plants is complex and currently represented by Earth system models (ESMs) in a simplified way says Knighton, where all plants in a region may be considered as a single entity (i.e., a plant functional type),

    “Plant Functional Types (PFTs) are used because we don’t know a lot about the details of individual plant species,” says Knighton, a faculty member in the College of Agriculture, Health and Natural Sciences. “It would be harder to take a detailed map of vegetation over a continent and put in all the right values for each individual species so it’s easier just to consider one generic PFT.”

    The problem with PFTs is that different plant species vary in their hydrologic traits – or how water moves through plants — and this oversimplification of such systemically influential traits could limit the effectiveness of available models to predict the future. Scientists have moved towards accounting for these differences by creating databases, like the TRY Plant Trait Database, where this information is collected. However, Knighton points out that only about 5,000 to 15,000 plant species have had their traits well-cataloged after several centuries of plant science.

    “There are around 60,000 to 70,000 tree species on Earth, meaning that after 200 years, we know maybe 5 to 10% of what’s happening,” he says. “If that were the way we would do things, it would take us another 2,000 years or so to learn about all the plants that we needed to, and at that point, climate change has set in, and it’s too late. We can’t do that. We can’t just wait for field researchers to go out and do their studies and populate this global database. It’s still incredibly useful to conduct field studies, but those alone will not get us where we need to be fast enough.”

    Knighton and his colleagues decided to address this problem and expedite the process by looking at the data for traits that are available, information like how tall a tree grows, how deep the roots descend, or how fast water flows within the plant. They then compared the history of that species and its relatedness to other species in what is called a phylogenetic test for those traits.

    “We looked to see how similar trait values are between closely related species, and the idea behind that is, if these traits are critical for their survival, evolution will have preserved the trait values, they won’t be randomly dispersed,” Knighton says. “For example, if growing deep roots was critical for a certain type of plant to survive, the species that branch off from that one will probably also have deep roots, and everything that’s in that family or that genus will have a similar root structure.”

    Graduate students Caroline Stanton (left) and Kevin Li (right) collecting samples from trees in the UConn Forest. (Contributed photo)

    The researchers performed the test for all the traits, and Knighton says they found high levels of conservation across the phylogenetic tree, which means closely related species tend to have closer trait values.

    “Then we took the phylogeny where you can take all of the plant species on Earth and map them onto each other, and show exactly how closely related each plant is to every other plant,” he says.

    Knighton says they can impute the trait data if they have the information for closely related species, meaning that this data can be inferred without having to take millions of field measurements.

    “We used different numerical machine learning techniques, and in doing that, we were able to come up with a database of these very critical tree values for 55,000 tree species on Earth,” he says. “If you want to do global modeling that includes more detail in the vegetation, which is important, you now have a starting point. You don’t have to use this generic, one plant species per continent approach, you could, in theory, try something more detailed, but putting in all the different species and seeing what happens.”

    Knighton says they consider this work to be a low-order approximation, but it is an important starting point. As more data is collected from field researchers, the data can be used to update and refine the interpolated data to improve the accuracy of this approach.

    This work is the next step in a larger project, the first step of which was a proof-of-concept experiment at a smaller, more local level. That project established this method of imputing hydrologic traits as a viable approach, and Knighton says the next step is to compare the imputed data with observational data that they are collecting in UConn Forest and from other sites around the United States.

    Knighton explains there are 10 sites across the U.S. where ample data is collected, which will serve as test cases. Knighton says master’s student Caroline Stanton ’26 is currently building ecosystem models of each site, and they are calibrating high-resolution models to estimate the traits which they will compare with data that scientists have collected over the last 20 years. Then, they will compare the estimated plant trait results with the observational data collected from the site to see how the quality of the model is impacted by each approach.

    Eventually, the researchers hope to apply the method to forested sites across the globe to study aspects of what drives traits to vary. Understanding the variation in traits across different plant species has the potential to strengthen the accuracy of models, but these data can also give insights into what drives the different traits to vary.

    Knighton says he and his colleagues hope climate modelers will find this information helpful, but they also hope it can improve our understanding of the Earth system overall, and more about the vital roles plants play,

    “Plants control our environment to an incredible degree.”

    This work is supported by the National Science Foundation (Grant numbers 2243263, 2003205, 20230833 and 2216855), Renewable Energy, Natural Resources, and Environment: Agroecosystem Management (GRANT13398847 from the USDA National Institute of Food and Agriculture.)

    MIL OSI USA News

  • MIL-OSI USA:  UConn Hosts Conference for Undergraduate Women and Gender Minorities in Physics

    Source: US State of Connecticut

    Cameron Brady was the only woman in her undergraduate class to graduate with a Bachelor of Science in physics. While Brady found it easy to work alongside her predominantly male peers at Rowan University, it wasn’t until she attended a conference for undergraduate women in the field that she gained the confidence to pursue the study further. 

    On Jan. 24, Brady, now a UConn Ph.D. candidate in physics, served on a graduate panel at the first UConn Conference for Undergraduate Women and Gender Minorities in Physics (CU*iP)—the same conference that helped launch her career. 

    “The higher-level classes in physics, I was the only woman,” Brady says. “At first, it was hard to have confidence and maybe answer questions or speak out. But eventually, over time, I just learned.” 

    UConn was one of 14 universities selected by the American Physical Society (APS) to host a CU*iP conference. The event was organized by a committee of UConn faculty and graduate students, led by Nora Berrah, Board of Trustees Distinguished Professor of physics. 

    Berrah says physics has historically been a male-dominated field, but while men’s attitudes toward accepting women into the profession have become more positive, women may still wonder if it’s a supportive, friendly environment. 

    “We want to give them a chance and provide a place for them to ask any questions that they have on their minds, because we want them to stay in physics,” Berrah says. 

    Brady hopes this conference will provide attendees with the same opportunities it did for her. After attending a virtual CU*iP conference, Brady said she was inspired by women who continued their careers in physics. That experience propelled her to apply for the U.S. National Science Foundation (NSF) Research Experiences for Undergraduates (REU), a competitive program that provides funding for undergraduates to conduct research at universities across the country. 

    “The graduate students on the panel had done that and talked about it, so it made me want to apply,” says Brady, who went on to complete two REU internships. 

    To support another cohort of women and gender minorities in the field, Brady was one of the many graduate students who helped host about 100 undergraduates from across New England for UConn’s first CU*iP conference, held in Gant West from Jan. 24 to 26. 

    “I want to give back to the community,” says Kaley Wilcox, another physics Ph.D. candidate and conference volunteer. “I know I’m only here because of all the support from my female friends and various underrepresented genders in physics.” 

    Wilcox says her participation in the conference is a way to acknowledge the contributions of other women in the field and to be a mentor and beacon for others so more women can pursue the field. 

    UConn’s Department of Physics hosts the Conference for Undergraduate Women and Gender Minorities in Physics in the Gant Science Complex on Jan. 24, 2025. (Bri Diaz/UConn Photo)

    Berrah spent nearly two years putting the conference together. She and her organizing committee studied previous conferences to gather insight into what students needed, made a conference program featuring presentations from professors and industry leaders, and raised funds to sponsor all the participants’ attendance. 

    For three days, students attended panels and lectures on a variety of topics, including technical knowledge, career paths in the industry, gaining research experience, and navigating mental health in the field. They also had a very important opportunity to meet with students from other institutions and network with their peers and professionals. 

    Josephine Singleton, a junior astronomy major at Mount Holyoke College, says that while her university may be a women’s liberal arts school, there are still very few women who share her major. She says the conference is an opportunity to connect with other women and gender minorities in the field. 

     “Most of us are women or in the LGBTQ community so many of us do support each other in this sphere,” Singleton says. “There’s still a large gap for anyone other than cis men in the field of physics, but I think it is getting better now because I know a lot of Mount Holyoke’s graduates who are now working at places like NASA. It’s good to see that.”   

    Brady hopes the attendees come away with the same confidence she did to pursue her interests. 

    “I didn’t always think I could go to grad school for physics. I didn’t know if I would be good enough to get in,” she says. “I hope from this conference they can see women who have already achieved that and know they can do it themselves.” 

    The conference was funded by APS, NSF, and the U.S. Department of Energy. Additional support was provided by the UConn Department of Physics; College of Liberal Arts and Sciences; Office of the Provost; the Vice President for Research; College of Engineering; Institute of Materials Science; Ed Eyler and Karen Greer Fund; Mark Miller Fund; City College of New York Physicists William Miller and Myriam Sarachik Memorial Fund; Mirion Technologies; Del Boca family gift; American Astronomical Society; New England Section of APS; and Startorialist Science and Fashion Shop. 

    MIL OSI USA News

  • MIL-OSI USA: At UConn, Equality Starts One Ride at a Time

    Source: US State of Connecticut

    The UConn Accessible Van Service (AVS) is a student-run program within Facilities Operations that has provided free rides around campus for disabled and injured members of the UConn community for over a decade.

    White minivans with “HuskyGo” labels printed on the trunks, shuttle students and faculty all day long.

    “The breadth of folks who use the service range from people who are wheelchair bound permanently to students who twisted their ankle and need help getting around for a week,” says Andy Kelly, associate director of logistics at UConn.

    “The service is important because it kind of sets the standard for equity,” says Ryan Dang ’25 (ENG), student manager and AVS coordinator. “Everybody should be given the same opportunity to go to classes, run their errands and do what they need to do, despite whatever disability that they have.”

    Driving the vans is also an opportunity for student drivers to connect with their peers (George Velky / UConn Photo)

    This semester, there are roughly 400 students and staff who rely on the service. The vans serve the entirety of the UConn Storrs campus and up to one mile off campus. There are 231 pickup and drop-off points, says Dang. An interactive map with all pickup locations is provided via QR code to the passengers so they can pinpoint exactly where the best spot is for their next ride.

    “It provides a significant peace of mind for the folks who use the service, so they don’t have to worry about being able to be full participants in the college experience,” says Kelly.

    There are about 40 employees with the service, the majority of who are students. The program is completely facilitated through student managers Ryan Dang and Nicole Corkery ’25 (CLAS).  Eight full-time employees staffed by WRTD also keep the ship running.

    Student drivers enjoy connecting with their peers on campus.

    “Making sure you greet passengers when they get in the van is big,” says Shealyn Docker ’25 (CLAS), AVS driver. “Just so that they feel comfortable and that they’re welcomed.”

    Docker has been working for AVS for three school years and loves the job. She explained how she has built relationships with many of the passengers, and she looks forward to driving them every day. Docker mentioned one passenger she would drive to and from work. “He always talked to me about his granddaughter and his children, how work is going, and how he’s super grateful that I drive him. I miss him.”

    For many of the passengers, AVS is the primary means of transportation. The service runs from 7 a.m. to 10 p.m. on weekdays, 11 a.m. to 8 p.m. on Saturdays and 11 a.m. to 7 p.m. on Sundays. Drivers understand the importance of their work and are often eager to pick up shifts to make sure each passenger’s accommodation is met.

    Students can find eligibility for the service by connecting with the Center for Students with Disabilities. University staff can contact HR to see if they meet the needs for accommodation.

    For Spring 2025, roughly 400 students and staff rely on the service (George Velky / UConn Photo)

    There are five vans with wheelchair ramps, and the rest do not have wheelchair accessibility. One goal Kelly has for AVS is to upgrade the entire fleet to have ramps. When each van has a ramp, it will put the service in a place to better provide the right level of service for the right people, says Kelly.

    Other qualities that ensure safety and accessibility include strobe lights on vans for visually impaired passengers and backup cameras. Drivers are required to always wear a high-visibility vest and drive with headlights on at all times of day. They are also trained to know the campus like the back of their hand, so they can make the experience for the passengers as seamless as possible.

    “AVS allows people to live where they want on campus and still maintain the same level of presence as any other student,” says Dang. “It makes them feel like any other person on campus. It doesn’t make them feel like an outsider.”

    MIL OSI USA News

  • MIL-OSI: Outbrain Completes the Acquisition of Teads

    Source: GlobeNewswire (MIL-OSI)

    Highlights:

    • The combination will merge two open internet category leaders to create a unified omnichannel platform that delivers outcomes from branding to performance across all screens, including CTV, mobile and web. The new company will operate under the name Teads.
    • The union creates one of the largest open internet companies, with combined advertising spend of approximately $1.7 billion (FY24), reaching 2.2 billion consumers.
    • The company will unite two of the richest contextual and interest data sets on the open internet, powering an advanced AI prediction engine to optimize advertiser outcomes.
    • Outbrain CEO, David Kostman, will serve as CEO of the combined company, with Jeremy Arditi and Bertrand Quesada, former Teads CEOs, assuming the roles of Co-President, Chief Business Officer of the Americas and International respectively.
    • The two companies are preliminarily reporting a combined Ex-TAC Gross Profit of $623 million and Adjusted EBITDA of $230 million in 2024 including $65-75 million of estimated synergies1.
    • Transaction value of approximately $900 million, comprised of $625 million in cash and 43.75 million Outbrain shares.
    • Altice, selling shareholder of Teads, will nominate two out of a total of 10 board members.
    • Outbrain is providing selected preliminary results for the fourth quarter, in line with previously issued guidance in Outbrain’s November 2024 earnings call, and selected preliminary results for Teads and the combined company.

    NEW YORK, Feb. 03, 2025 (GLOBE NEWSWIRE) — Outbrain Inc. (NASDAQ: OB) today announced the closing of its acquisition of Teads, following receipt of all necessary regulatory approvals. The two companies will merge their respective branding and performance offerings to create the omnichannel outcomes platform for the open internet, and will operate under the name Teads.

    The new Teads will create one of the largest optimized supply paths on the premium open internet, with a focus on connecting curated, exclusive media environments with elevated, data-driven creative experiences. The combined company offering will be strengthened by Outbrain’s proprietary predictive technology and AI optimization. It will provide a solution for marketers to leverage a single partner to deliver concrete outcomes at every step of the marketing funnel— offering unique ways to combine advertising solutions from awareness to sales. The company’s combined data set will power expanded contextual, audience and purchase-based targeting capabilities, connecting CTV experiences to digital moments to drive measurable outcomes.

    “I am extremely excited about this new chapter in our journey. This transformative merger creates a company that directly addresses a large gap in the advertising industry: a scaled end-to-end platform that can drive outcomes, from branding to consideration to purchase, across screens,” said CEO, David Kostman.

    “Together, we are creating an extraordinary new company, combining the best of both organizations’ deep expertise in omnichannel video branding solutions and performance advertising. The new Teads’ mission is to drive lasting value with an offering that invites marketers to expect better outcomes, media owners to expect sustainable value, and consumers to expect elevated experiences. I want to thank the teams of both Outbrain and Teads, who have pioneered major advertising categories, and have built leading global companies over more than a decade. It is their innovation and commitment that have brought us to this moment and will propel us to new heights,” added Kostman.

    Co-President & Chief Business Officer, Jeremy Arditi, added: “We’re committed to creating a solution that will harness the untapped opportunity of the open internet, and allow all of its constituents to thrive. We believe that by prioritizing beautiful creative experiences, trust and transparency in media, and delivery of meaningful outcomes, we can create a stronger ecosystem that provides value for all.”

    “The merger between Teads and Outbrain makes a lot of sense strategically. We look forward to exploring the new possibilities this provides us with to reach our audiences in a new and interesting way, to deliver full funnel solutions and better business outcomes,” said Sital Banerjee, Global Head of Integrated Media, Performance Marketing, and BMI Management at Lipton Teas and Infusions.

    Key Combined Strengths

    With the completion of the combination, the new Teads will offer clients and partners:

    • Exceptional reach at great scale, across exclusive environments
      • 96 percent open internet audience reach*
      • Number one most direct supply path, as rated by Jounce**
      • Direct access to 10,000 media environment
      • Connected to the top 4 OEMs and several of the top Streaming Apps unlocking access to 50bn CTV Monthly Ad Opportunities, including unique CTV homescreen inventory
      • Proprietary code-on-page relationships with premium editorial properties globally, providing access to incremental inventory and yielding extensive audience interest and engagement insights
    • Creatives built for outcomes
      • Data-driven, beautiful creative solutions designed to connect brand moments across the marketing funnel — from CTV to editorial and beyond
      • Proven impact from unique experiences, with 74 percent higher attention for unique CTV native creative
      • Strategic Joint Business Partnerships with more than 50 of the world’s most premium brands
    • AI-powered predictive technology
      • Proprietary prediction engine, cultivated over 18+ years to drive performance outcomes, making 1 billion predictions each minute
      • 4 billion signals processed each minute via AI and machine learning
      • 50 live AI models
    • Expansive omnichannel graph, expanded on the Teads Omnichannel Graph foundation
      • The Teads Omnichannel Graph (OG), a proprietary tool extending contextual and audience-targeting capabilities into the CTV environment, will be further expanded by Outbrain engagement, interest, and conversion data
      • Extensive data signals feeding an understanding of audiences across screens, including:
        • 130,000 articles scanned per minute
        • 500,000 CTV programs enriched with data per month
        • 1 billion engagement and contextual signals processed each minute

    *According to Comscore, Media Metrix, Key Metrix, US, December 2024 for Teads.
    **According to 2024 Jounce SPO analyses, specific to Teads platform.

    Transaction Details

    Outbrain, Altice and Teads have amended the previously announced share purchase agreement, dated August 1, 2024. Under the terms of the revised agreement, Outbrain will be paying a total consideration of approximately $900 million, consisting of $625 million upfront cash and 43.75 million shares of common stock of Outbrain (valued at approximately $263 million based on the closing price of Outbrain’s common stock as of January 31, 2025, of $6.01).

    Under the revised terms, there is no deferred cash payment or convertible preferred equity component. The revised terms have meaningfully reduced the level of required debt financing and simplified the transaction structure.

    Outbrain intends to finance the transaction with existing cash resources and $625 million in committed debt financing from Goldman Sachs Bank USA, Jefferies Finance LLC and Mizuho Bank, Ltd., subject to customary funding conditions. Outbrain will also issue to Altice 43.75 million shares of common stock. Altice will nominate two directors to the board of Outbrain and will be bound by a stockholder agreement with Outbrain containing arrangements and restrictions concerning voting and disposition of the shares issued to Altice.

    Financial Highlights

    Preliminary Estimated Unaudited Financial Information for the Quarter and Year Ended December 31, 2024

    Today Outbrain is furnishing on Form 8-K selected preliminary estimated unaudited financial information for each of Outbrain and Teads on a standalone basis and on a combined company basis for the quarter and year ended December 31, 2024. Excerpts of such financial information can be found below. You are encouraged to refer to the Form 8-K and other documents filed or furnished by Outbrain with the SEC through the website maintained by the SEC at www.sec.gov.

    The Company previously announced its expectation to achieve $50 – 60 million of annual revenue and cost synergies in the second full year following completion of the acquisition, with further opportunities for expanded synergies in the following years. The Company now expects to realize approximately $65 – 75 million of annual synergies in FY 2026 with further opportunities for expanded synergies in the following years. Of this amount, approximately $60 million relates to cost synergies, including approximately $45 million of compensation related expenses. The Company plans to action approximately 70% of the compensation related expense savings during the first month post-closing. The upsize in expected synergies follows a robust integration planning process, enabling a larger and more rapid synergy capture.

    Outbrain is providing selected preliminary results for the fourth quarter and full year 2024, as follows:

    • Ex-TAC gross profit of $68.3 million for Q4 2024, and $236.1 million for FY 2024
    • Adjusted EBITDA of $17.0 million for Q4 2024, and $37.3 million for FY 2024

    For Teads, we are providing the following selected preliminary results for the fourth quarter and full year 2024, as follows:

    • Ex-TAC gross profit of $119.9 million for Q4 2024, and $386.6 million for FY 2024
    • Adjusted EBITDA of $52.2 million for Q4 2024, and $122.7 million for FY 2024

    The two companies are preliminarily reporting a combined Ex-TAC Gross Profit of approximately $623 million and Adjusted EBITDA of approximately $230 million in 2024, including $65-75 million of estimated synergies2.

    Conference Call and Webcast:
    Outbrain will host an investor conference call this morning, Monday, February 3rd at 9:00 am ET. Interested parties are invited to listen to the conference call which can be accessed live by phone by dialing 1-877-497-9071 or for international callers, 1-201-689-8727. A replay will be available two hours after the call and can be accessed by dialing 1-877-660-6853, or for international callers, 1-201-612-7415. The passcode for the live call and the replay is 13751603. The replay will be available until February 17, 2025. Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investors Relations section of the Company’s website at https://investors.outbrain.com. The online replay will be available for a limited time shortly following the call.

    Cautionary Note About Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the U.S. federal securities laws and the Private Securities Litigation Reform Act of 1995, which statements involve substantial risks and uncertainties. These statements are based on current expectations, estimates, forecasts and projections about the industries in which Outbrain and Teads operate, and beliefs and assumptions of Outbrain’s management. Forward-looking statements may include, without limitation, statements regarding possible or assumed future results of our business, financial condition, results of operations, liquidity, plans and objectives, expected synergies and statements of a general economic or industry-specific nature. You can generally identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “foresee,” “potential” or “continue” or the negative of these terms or other similar expressions that concern our expectations, strategy, plans or intentions, or are not statements of historical fact. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors including, but not limited to: risks that the acquisition disrupts current plans and operations or diverts management’s attention from its ongoing business; the initiation or outcome of any legal proceedings that may be instituted against Outbrain or Teads, or their respective directors or officers, related to the acquisition; unexpected costs, charges or expenses resulting from the acquisition; the ability of Outbrain to successfully integrate Teads’ operations, technologies and employees; the ability to realize anticipated benefits and synergies of the acquisition, including the expectation of enhancements to Outbrain’s services, greater revenue or growth opportunities, operating efficiencies and cost savings; overall advertising demand and traffic generated by Outbrain and the combined company’s media partners; factors that affect advertising demand and spending, such as the continuation or worsening of unfavorable economic or business conditions or downturns, instability or volatility in financial markets, and other events or factors outside of Outbrain and the combined company’s control, such as U.S. and global recession concerns; geopolitical concerns, including the ongoing war between Ukraine-Russia and conditions in Israel and the Middle East; supply chain issues; inflationary pressures; labor market volatility; bank closures or disruptions; the impact of challenging economic conditions; political and policy uncertainties; and other factors that have and may further impact advertisers’ ability to pay; Outbrain and the combined company’s ability to continue to innovate, and adoption by Outbrain and the combined company’s advertisers and media partners of expanding solutions; the success of Outbrain and the combined company’s sales and marketing investments, which may require significant investments and may involve long sales cycles; Outbrain and the combined company’s ability to grow their business and manage growth effectively; the ability to compete effectively against current and future competitors; the loss or decline of one or more large media partners, and Outbrain and the combined company’s ability to expand advertiser and media partner relationships; conditions in Israel, including the ongoing war between Israel and Hamas and other terrorist organizations, may limit Outbrain and the combined company’s ability to market, support and innovate their products due to the impact on employees as well as advertisers and advertising markets; Outbrain and the combined company’s ability to maintain revenues or profitability despite quarterly fluctuations in results, whether due to seasonality, large cyclical events or other causes; the risk that research and development efforts may not meet the demands of a rapidly evolving technology market; any failure of Outbrain or the combined company’s recommendation engine to accurately predict attention or engagement, any deterioration in the quality of Outbrain or the combined company’s recommendations or failure to present interesting content to users or other factors which may cause us to experience a decline in user engagement or loss of media partners; limits on Outbrain and the combined company’s ability to collect, use and disclose data to deliver advertisements; Outbrain and the combined company’s ability to extend their reach into evolving digital media platforms; Outbrain and the combined company’s ability to maintain and scale their technology platform; the ability to meet demands on our infrastructure and resources due to future growth or otherwise; the failure or the failure of third parties to protect Outbrain and the combined company’s sites, networks and systems against security breaches, or otherwise to protect the confidential information of Outbrain and the combined company; outages or disruptions that impact Outbrain or the combined company or their service providers, resulting from cyber incidents, or failures or loss of our infrastructure; significant fluctuations in currency exchange rates; political and regulatory risks in the various markets in which Outbrain and the combined company operate; the challenges of compliance with differing and changing regulatory requirements; the timing and execution of any cost-saving measures and the impact on Outbrain and the combined company’s business or strategy; and the other risk factors and additional information described in the section entitled “Risk Factors”, and under the heading “Risk Factors” in Item 1A of Outbrain’s Annual Report on Form 10-K filed with the SEC on March 8, 2024 for the year ended December 31, 2023, Outbrain’s Form 10-Q filed with the SEC on August 8, 2024 for the period ended June 30, 2024, Outbrain’s Form 10-Q filed with the SEC on November 7, 2024 for the period ended September 30, 2024 and in subsequent reports filed with the SEC.

    Accordingly, you should not rely upon forward-looking statements as an indication of future performance. Outbrain cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or will occur, and actual results, events or circumstances could differ materially from those projected in the forward-looking statements. The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Outbrain and the combined company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the forward-looking statements. Outbrain undertakes no obligation, and does not assume any obligation, to update any forward-looking statements, whether as a result of new information, future events or circumstances after the date on which the statements are made or to reflect the occurrence of unanticipated events or otherwise, except as required by law.

    About The Combined Company
    Outbrain Inc. (Nasdaq: OB) and Teads combined on February 3, 2025 and are operating under the new Teads brand. The new Teads is the omnichannel outcomes platform for the open internet, driving full-funnel results for marketers across premium media. With a focus on meaningful business outcomes, the combined company ensures value is driven with every media dollar by leveraging predictive AI technology to connect quality media, beautiful brand creative, and context-driven addressability and measurement. One of the most scaled advertising platforms on the open internet, the new Teads is directly partnered with more than 10,000 publishers and 20,000 advertisers globally. The company is headquartered in New York, with a global team of nearly 1,800 people in 36 countries.

    For more information, visit https://thenewteads.com/.

    Media Contact

    press@outbrain.com

    Investor Relations Contact

    IR@outbrain.com
    (332) 205-8999

    Non-GAAP Reconciliations

    The following table presents the reconciliation of Gross profit to Ex-TAC gross profit, for the periods presented:

        Three Months Ended December 31, 2024   Year Ended December 31, 2024
        Outbrain   Teads   Combined   Outbrain   Teads   Combined
    Revenue   $ 234,586     $ 188,953     $ 423,539     $ 889,875     $ 617,435     $ 1,507,310  
    Traffic acquisition costs     (166,247 )     (69,091 )     (235,338 )     (653,731 )     (230,831 )     (884,562 )
    Other cost of revenue (a)     (12,277 )     (26,441 )     (38,718 )     (44,042 )     (106,414 )     (150,456 )
    Gross profit     56,062       93,421       149,483       192,102       280,190       472,292  
    Other cost of revenue (a)     12,277       26,441       38,718       44,042       106,414       150,456  
    Ex-TAC Gross Profit   $ 68,339     $ 119,862     $ 188,201     $ 236,144     $ 386,604     $ 622,748  

    ___________
    (a) Other cost of revenue for Teads is subject to accounting policy harmonization.

    The following table presents the reconciliation of net income (loss) to Adjusted EBITDA, for the periods presented:

        Three Months Ended December 31, 2024   Year Ended December 31, 2024
        Outbrain   Teads   Combined   Outbrain   Teads   Combined
    Net (loss) income   $ (167 )   $ 69,613     $ 69,446     $ (711 )   $ 89,318     $ 88,607  
    Interest expense/financial costs     699     $ 116       815       3,649       1,176       4,825  
    Interest income and other income, net     (1,522 )   $       (1,522 )     (9,209 )           (9,209 )
    Gain related to convertible debt                       (8,782 )           (8,782 )
    Other financial income and (expenses)           (13,973 )     (13,973 )           (26,404 )     (26,404 )
    Provision for income taxes     3,525       16,143       19,668       2,415       38,256       40,671  
    Depreciation and amortization     4,985       3,027       8,012       19,479       12,834       32,313  
    Share-based compensation     3,974       (28,089 )     (24,115 )     15,461             15,461  
    Severance costs           393       393       742       1,593       2,335  
    Merger and acquisition costs     5,469       4,930       10,399       14,256       5,890       20,146  
    Adjusted EBITDA, excluding synergies   $ 16,963     $ 52,160     $ 69,123     $ 37,300     $ 122,663     $ 159,963  
    The Company expects to realize approximately $65 – 75 million of annual synergies in the second full year following completion of the Acquisition. (midpoint)                         70,000  
    Combined company Adjusted EBITDA (incl. synergies)                       $ 229,963  

    1Represents estimated full year 2026 Adjusted EBITDA synergies, with further opportunities for expanded synergies in the following years. Ex-TAC Gross Profit and Adjusted EBITDA are non-GAAP financial measures. See “Non-GAAP Reconciliations” below.
    2Represents estimated full year 2026 Adjusted EBITDA synergies, with further opportunities for expanded synergies in the following years

    The MIL Network

  • MIL-OSI USA: Warren Blasts Treasury Secretary Bessent for Granting Elon Musk and DOGE Access to Government Payment Systems

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    February 03, 2025

    “It is extraordinarily dangerous to meddle with the critical systems that…ensure that tens of millions of Americans receive their Social Security checks, tax refunds, and Medicare benefits.” 

    “This astonishing mismanagement – turning over the federal government’s entire payment system and sidelining the most senior career official responsible for managing it…could trigger a global financial crisis.”

    Text of Letter (PDF)

    Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs (BHUA) and member of the Senate Finance Committee, wrote to the Secretary of the Department of the Treasury (Treasury), Scott Bessent, with extreme concern following reporting that, in one of his first acts as Secretary, Elon Musk and his associates were given “full access” to the federal government’s critical payment systems, which includes the sensitive personal information of millions of Americans.

    The New York Times reported that, even before President Trump’s inauguration, Mr. Musk and his team at the Department of Government Efficiency (DOGE) began demanding access to the sensitive payment systems that are used by the federal government to disburse trillions of dollars every year and are essential to preventing a default on federal debt. Controlling these systems could allow the Trump Administration to “unilaterally”—and illegally—cut off payments for millions of Americans, putting at risk the financial security of families and businesses based on political favoritism or the whims of Mr. Musk and those on his team who have worked their way inside.

    “The public depends on the integrity of those systems, which control the flow of over $6 trillion in payments to American families, businesses, and other recipients every year,” wrote Senator Warren. Given the highly sensitive nature of the information in these systems, control over them is typically limited to a small number of career officials. 

    Reporting by the Washington Post indicates that Secretary Bessent also personally sidelined David Lebryk, a key official responsible for managing the extraordinary measures the Treasury is taking to avoid a default on U.S. debt. Mr. Musk and his team repeatedly pressured Mr. Lebryk to give them access to the payment systems, as part of the Trump administration’s plan to control spending in alarming and potentially unlawful ways. Rather than protecting the integrity and function of the payment system, Secretary Bessent reportedly bent to pressure from the White House, ultimately forcing him out. The move risks a global financial meltdown that would cost trillions of dollars and millions of jobs. 

    The loss of Mr. Lebryk’s expertise comes at a time when the Treasury is already taking extraordinary measures to prevent a catastrophic debt default. “The Fiscal Assistant Secretary – unlike the amateurs you have empowered in forcing him out – was well-prepared to manage these kinds of crises,” said Senator Warren. 

    “The American people deserve answers about your role in this mismanagement, which threatens the privacy and economic security of every American,” concluded Senator Warren

    Senator Warren asked Secretary Bessent to provide clarity on his role in providing Mr. Musk and his team access to Treasury payment systems, along with his role in ousting Mr. Lebryk from the Treasury Department, by February 7, 2025. 

    MIL OSI USA News

  • MIL-OSI United Kingdom: New partnerships for growth: FCDO Minister’s speech at the LSE

    Source: United Kingdom – Executive Government & Departments

    FCDO Minister for Development Anneliese Dodds gave a keynote speech to the UK financial sector at the London Stock Exchange today on partnerships for growth.

    Thank you so much, Julia [Dame Julia Hoggett, CEO of the London Stock Exchange], and a very good morning to all of you.

    Thank you so much for joining us today, I really appreciate it.

    It was an absolute thrill to see the market open this morning.

    I am very keen to hear from as many of you as possible, so I’m not going to speak for too long.

    I want to leave plenty of time for questions.

    But I do want to share a few reflections with you this morning.

    This is, as Dame Julia kindly said, the second time I had the privilege of opening the London Stock Exchange.

    I had the privilege of speaking in this room almost two years ago, and it was then as now a very moving moment, because sat in the front row were some of the first women, in fact the first women, and others who set foot on the London Stock Exchange because they had not been allowed to do so until then.

    What a privilege to have been there for that moment, as for this moment.

    Two years ago, when I was here, I spoke about my own family background – with my dad having worked in financial services.

    And I want again to place on record, my respect for the work that goes on in this building, and across the country.

    Businesses in the financial sector power jobs and growth across the UK, and indeed often around the world as we’ve just heard.

    Well, of course, a lot has changed in the last two years, since I was last here.

    I am addressing you, not as a shadow minister – but now as the Minister for Development, and for Women and Equalities.

    We have a new government focused on growth and restoring our reputation on the world stage.

    And the Prime Minister and the Chancellor have set us all a guiding mission to grow our economy, and bring opportunity to people across our country.

    They have been clear that supporting growth and development around the globe is not just the right thing to do.

    It is an essential part of how we unlock growth, jobs, trade, investment, and pride in our economy here at home as well.

    Indeed, as the Foreign Secretary said in a major speech at the start of the new year, in today’s contested, competitive world, what we need now is a whole new level of global engagement – drawing on our greatest strengths.

    That absolutely includes the expertise, experience, and dynamism in this room.

    Clearly, the City of London and wider UK financial sector must be at the heart of how we meet the opportunities and challenges of our time.

    Twenty years ago, people marched and campaigned to Make Poverty History.

    [Political content redacted]

    That call was heeded and huge progress was made.

    Debt was cancelled, and development assistance was ramped up.

    Lives were saved and lives were changed.

    Today, the challenges we face are growing and becoming increasingly complex – not least because our world is so deeply interconnected.

    We have all seen how shocks can indeed reverberate across the globe.

    A vicious cycle of conflicts.

    The pandemic.

    The climate and nature crisis, and others.

    We have seen supply chains disrupted, and investor confidence shaken – harming our economy, here at home.

    Yet we have all seen the power of harnessing this interconnectedness as well.

    By working together – we can get ahead of global shocks, mitigate their impact, and unlock new opportunities for growth.

    For outward investment by UK businesses.

    To build future markets for UK exports.

    To support low-and-middle-income countries to grow their economies as well.

    As the UK’s Minister for Development, and for Women and Equalities, I am determined to build genuine partnerships across the Global South, based on genuine respect, and in service of our mutual interests.

    Indeed, in all of the visits I’ve undertaken over the last 6 months, from Indonesia to Malawi, to the major global gatherings of the UN General Assembly, the World Bank Annual Meetings, and the climate summit at COP29 – I heard loud and clear that our drive for growth is an ambition our partners all share.

    They want respectful, modern partnerships that benefit us all, too.

    They want to tap into your expertise and the innovative financial solutions you are pioneering – to harness the power of private finance.

    They want to work with us to build resilience to shocks.

    To escape the trap of unsustainable debt.

    To break down the barriers to private investment.

    And they want to work with us to champion much-needed reform of the global financial system, so we unlock more opportunities for everyone – from millions of women and girls around the world whose game-changing potential has yet to be unleashed, to investors right here in the City of London.

    Your hard work is at the heart of these partnerships.

    Already, 115 African companies are listed here.

    London is the world’s number one hub as I said before for green finance.

    All of this puts the UK in pole position to be the leading source of investment for emerging markets – and to build on the reputation you have worked so hard to develop.

    So today, I want to focus on four key areas, where the government and the City can make the most of the important roles we have to play – to support stable, resilient long-term growth, here at home, and around the world.

    Mobilising private capital – to help us maximise the impact of public and private finance.

    Reforming international financial institutions – to make sure they are bigger, better, and fit for the future.

    Tackling unsustainable debt – to achieve the fast, orderly restructuring that helps countries avoid default and supports stability.

    And scaling up insurance – to get more finance in place before disasters strike, to protect and promote growth across the world.

    First – mobilising private capital.

    Together, we can maximise the impact of billions of dollars of public money – and unlock many billions more.

    Consider that globally, there are some $121 trillion of assets under management.

    Currently, Africa accounts for less than 1% of the overseas portfolio allocation of UK pension funds.

    Yet Africa’s GDP growth – and I know I don’t need to tell many in this room of this – is projected to outpace the global average – and almost 70% of UK savers say they want their investments to consider impact on people and the planet.

    It is time to lean in.

    So, I was delighted to hear the Chancellor announce her plans – to consolidate the UK’s fragmented £1.3 trillion pension fund landscape, and create larger, more agile funds, capable of investing in high-growth emerging and developing markets.

    This is exactly the kind of opportunity we need to embrace.

    And I’m delighted that today, a new report from leading UK-based institutional investors sets out how the UK can continue to be the climate finance hub for the world.

    The report makes it clear that investing in other countries to accelerate the transition to clean energy is critical – to growing our economy at home, and to building financial stability long-term, in the UK, and right around the world.

    The Energy Secretary is rightly championing this through the new Global Clean Power Alliance, that the Prime Minister launched at the G20 in Rio.

    Well, today I am pleased to announce that alongside the Economic Secretary to the Treasury, I am convening an Investor Taskforce – to increase UK private investment for climate and development, in markets around the world.

    We are building partnerships with public markets like the London Stock Exchange to pursue this.

    In just four years, our flagship MOBILIST initiative has mobilised almost $250 million for listed products focussed on climate and development globally – including recent investments, like the infrastructure securitisation through Bayfront.

    This method of structuring bank infrastructure loans makes it possible for institutional investors to purchase them through investment-grade listed instruments.

    MOBLIST also helped achieve a $100 million first close for the Green Guarantee Company that will provide up to $1 billion of guarantees – for institutional investors buying green bonds, including those listed on the London Stock Exchange, and green loans issued in the private credit market.

    Today, I am pleased to announce up to £100 million of additional funding for MOBILIST – so we can build on this innovative work pioneering public market investment in emerging markets.

    This will allow MOBILIST to provide a platform for even more partners to draw on UK financial expertise – unlocking opportunities for investments in green growth, and helping more businesses to access new and affordable sources of capital across Asia, Africa, and Latin America.

    MOBILIST is not the only way that we are doing this.

    When I visited the London-based Private Infrastructure Development Group, funded by the UK and others – I saw how they are developing and de-risking infrastructure projects across Africa and Asia.

    The UK financial sector has been a key partner for them.

    For example, one arm of the group – GuarantCo – has guaranteed bonds and loans, to unlock $5.7 billion of private investment in infrastructure, benefitting over 44 million people.

    And – breaking news – I am delighted that a new $50 million deal with Standard Chartered Bank – signed today – will allow them to expand further.

    As another example, take British International Investment, or BII – the world’s oldest Development Finance Institution, at the forefront for 75 years.

    The BII teams were full of ambition when I visited their HQ in November.

    I am always proud to tell our partners that 25% of BII’s new investment commitments already meet the 2X Challenge standard – to increase investment in women.

    By making this a priority, BII is funding everything from affordable housing led by women in India, to making lines of credit accessible to small-scale retailers run by women in Nigeria – supporting jobs and growth.

    And when I sat down with key African investors alongside partners from the City in the autumn, I was able to highlight that over half of BII’s portfolio is invested in Africa, and at least 30% of BII’s investments are in climate finance.

    So today, I want to encourage you to engage with their live call for proposals that is open right now.

    BII are looking for innovative pilots to be funded through a new facility announced by the PM at UNGA in New York – that we expect to mobilise over $500 million of institutional investment.

    We are supporting public markets to mobilise finance in other ways as well.

    UK support has been instrumental in helping Ethiopia to launch its first public stock exchange just a few weeks ago, with support from the UK government through Financial Sector Deepening Africa – or ‘FSD Africa’ for short.

    This exchange brings transparency and international-standard accounting to listed companies – and the diverse ownership that should improve accountability, and broaden both the gains from growth, and the buy-in.

    We are sharing UK expertise on financial regulation with our partners as well.

    Through a partnership with the Foreign, Commonwealth, and Development Office, the Bank of England is now supporting more than 10 countries to improve monetary policy and strengthen financial stability – from Nigeria to South Africa, and from Bangladesh to Indonesia.

    And in the last few days we have signed a new partnership with the Financial Conduct Authority, that will lead to them sharing knowledge with partner countries – to ensure that markets are competitive and fair.

    That is good for our partners – and it is good for us as well.

    Last year, Tanzania’s NMB Bank cross-listed East Africa’s first sustainability bond on the London Stock Exchange and the Dar es Salaam Stock Exchange – again, with support from FSD Africa, and an anchor investment from BII.

    The $73 million raised through this ‘Jamii’ Bond will support renewable energy, food security, jobs, and growth.

    In fact, thanks in no small part to your hard work, these sorts of listing are becoming a trend on the London Stock Exchange.

    Last year, the Brazilian Government dual-listed its first $2 billion sovereign sustainable bond on the London Stock Exchange.

    That was followed by a full listing of its second $2 billion sustainable bond, a few weeks later.

    All of this was enabled by UK support that helped Brazil develop a Sovereign Sustainable Bonds framework.

    Now, as we heard earlier, just a few weeks ago, the first $500 million Climate Investment Funds Capital Markets Mechanism bond was issued on the London Stock Exchange.

    It generated considerable investor interest.

    As has already been mentioned of course, it was over-subscribed six times over.

    Further issuances could raise up to $7.5 billion over ten years, for new investments in clean energy in developing countries – leveraging UK government contributions, and those from our international partners.

    So, I could not have been more delighted to open the market this morning – and to congratulate the Climate Investment Funds and World Bank Treasury on issuing this promising new bond today.

    Now, of course, no one in this room is going to invest in developing economies, or provide climate finance – simply because it is a nice thing to do.

    You are making those investments and building those partnerships because they represent a remarkable opportunity – to marry investment in the economies and technologies of the future, with the experience and expertise of the City of London.

    [Political content redacted]

    Let us keep up the momentum – so the London Stock Exchange continues to be the preferred choice.

    My second point is about reforming international financial institutions.

    We are asking a lot of all of you – but of course, there are certain things that only governments can do.

    And reforming the multilateral development banks or MDBs is one of the biggest ways that we are holding up our end of the bargain.

    Every year, the World Bank Group and various regional development banks multiply every pound the UK government and other shareholders put in.

    Last year alone, they raised around £30 billion from bond issuances in London.

    Together with finance raised on other markets around the world, this allowed them to deploy over $170 billion to low-and-middle-income countries.

    This finance is on much more affordable terms than many of our partners could access directly – thanks to the banks’ triple-A credit ratings.

    They use this to invest in high-impact public and private projects.

    Green infrastructure, healthcare, education, women and girls – all underpinning the foundations for growth around the world, and here in the UK.

    So clearly, pursuing reforms that make the MDBs bigger, better, and fit for the future is key.

    As the Prime Minister set out at the UN General Assembly last year –that is exactly what we are using the UK’s influence to do, in partnership with the Global South.

    Indeed, when I travelled to Washington D.C in October, as the UK Governor of the World Bank Group, I made it my priority to agree changes to its risk appetite, that will unlock an additional $30 billion over ten years.

    This builds on UK government guarantees that have made it possible for the World Bank and other MDBs to lend an additional $6 billion, across Africa, Asia, and the Pacific.

    Ahead of the next big ‘Financing for Development’ summit in Seville this summer – we must do more.

    To make sure the MDBs can shoulder more risk.

    To create more opportunities for private companies to invest in emerging markets.

    And to empower the women and girls who have the power to lift up whole families, communities, countries, and economies.

    Thirdly – we have to tackle the unsustainable debt that is dampening global growth.

    As we take the next steps now, we need the City to be at the forefront of expertise and solutions, to make sure that countries facing unsustainable debt burdens can restructure it effectively.

    Clearly, fast, orderly restructuring can help countries avoid default, and support stability.

    This is squarely in the interest of lenders, such as bondholders and commercial lenders here in the City.

    Obviously, it is squarely in the interests of borrowers too.

    I heard that loud and clear from the governments of Malawi and Zambia during my visit at the end of last year.

    With some 95% of African bonds issued under English Law, the UK has a key role to play.   We need to leverage this.

    Half of the lowest income countries are now in debt distress, or at high risk of it.

    Some 3.3 billion people are living in countries that are spending more on servicing their debt, than on the health and education services that underpin long-term, global growth.

    So, I want us to build on the successes of Collective Action Clauses that featured in over 90% of new bond issuances.

    These have been rolled out widely since their introduction in 2004.

    They have played an important role in ensuring a smooth process and strong private sector participation, in recent debt restructuring negotiations in Ghana and Zambia – avoiding situations where one or two bondholders can hold up a deal.

    This is a great example of what market-friendly innovation can achieve.

    My challenge to the commercial banks now is to introduce the equivalent clauses for syndicated lending – that the UK government has worked with the International Capital Markets Association, legal and financial advisors based in the City, and international partners to develop.

    No lender has implemented them – yet.

    So today, I am announcing that the UK government will offer support for the first ten transactions that put ‘majority voting provisions’ into existing or new lending to low-or-middle-income countries.

    Together, we can speed up debt restructuring negotiations with syndicated lenders – and get growth recovering more quickly in cases where debt has become unmanageable.

    We can do more on Climate Resilient Debt Clauses as well.

    The UK government was the first bilateral creditor to offer these clauses.

    Several other lenders have followed since.

    The difference they can make is significant.

    They allow repayments to be paused when a shock hits.

    This frees up fiscal space for countries responding to a crisis.

    Helps avoid default.

    Supports stability.

    And safeguards growth.

    Just look at Grenada.

    At the end of last year, following Hurricane Beryl – these clauses were triggered on government-issued bonds

    The result was $30 million of interest payments being suspended over the following year – thanks to the bondholders who pioneered these clauses.

    Already, we are going further.

    In October, I announced that the UK will support small states to take up Climate Resilient Debt Clauses in their World Bank loans, by covering the fees.

    In the long run these should be offered at no cost – improving sustainability, and offering benefits both to borrowers and lenders.

    All of this builds on the leadership of countries like Grenada and Barbados who championed these clauses.

    Today, I am reiterating our call on all creditors to offer these clauses in their sovereign lending, by the end of this year – including private sector lenders here in the City.

    I want to see greater transparency on debt as well.

    This improves investors’ understanding – and reduces the hidden debt that poses substantial risks for creditors here in the City.

    It lowers the cost of borrowing for our partners.

    And it allows citizens across the world to hold their governments to account for borrowing and using resources.

    Already, the UK government publishes all its new lending quarterly, on a loan-by-loan basis.

    Now, we want to see other public and private creditors meeting the same standards of transparency in their lending – especially to low-income countries.

    The UK will keep under review if further action is needed – working together with the private sector, to combat high levels of indebtedness.

    Fourth and finally, we need to get insurance and other contingent finance in place before disasters strike, so we protect and promote growth around the world.

    Extreme weather events are on the rise, as we all know.

    Millions of the world’s poorest and most vulnerable people are bearing the brunt of repeated shocks.

    Yet currently, less than 2% of crisis finance is of the ‘pre-arranged’ variety – that makes sure every pound spent yields three or four times its worth in benefits.

    Changing that is so important – to help countries receive the rapid payments they need to avoid losses.

    To reduce the need for humanitarian support.

    And to protect growth and jobs.

    Once again, the City is well-placed to meet the needs of this growing, and largely untapped market – as a global leader in innovative insurance and managing risk.

    In Africa, the Caribbean, South-East Asia and the Pacific, the FCDO has helped to establish regional insurance schemes – helping countries get cheaper prices by buying insurance from the private sector as a group, pooling their risk.

    London reinsurers underwrote a quarter of the first eight pools that have allowed Africa to transfer over $1 billion of risk, through the UK-funded African Risk Capacity.

    On a visit at the end of last year, I saw first-hand the difference that payouts from the African Risk Capacity are making to people in Zambia and Malawi, as they respond to a devastating recent drought.

    I was proud to tell them that this was made possible by UK government subsidies for insurance premiums – for countries that otherwise wouldn’t have been able to afford them.

    Now, I want us all to engage with the ground-breaking report published by a high-level industry panel, that I helped to launch last week – on how we can strengthen the provision of insurance and other contingent finance, and scale up the use of pre-arranged finance.

    Improving modelling, and the way we price risk.

    Championing innovative parametric insurance.

    De-risking investments upfront.

    This work is so important for giving investors confidence, expanding markets in development economies, improving returns, and strengthening the UK’s role as a leading global financial hub.

    Cultivating a virtuous cycle of global resilience and growth is in all our best interests.

    Your expertise, innovation, and investment are critical.

    So, my pledge to you is that I will make it a priority to build stronger partnerships between the Foreign, Commonwealth, and Development Office and the City.

    So we face up to unprecedented challenges.

    Embrace new opportunities.

    And reinvigorate hope for our shared future – and for sustained and sustainable economic growth here and overseas – by working towards it together, in the months and years ahead.

    Thank you.

    Updates to this page

    Published 3 February 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Transfer of homes from National Trust of Scotland to Perth and Kinross Council complete

    Source: Scotland – City of Perth

    Former NTS tenants will now become tenants of the Council and will enjoy a range of associated benefits as a result, including reduced rent levels and a 24-hour emergency repairs service.

    Council Leader, Councillor Grant Laing, visited Dunkeld today and met some of the tenants to mark the handover of their tenancy.

    The National Trust for Scotland, which cares for and shares Scotland’s heritage, has been responsible for the management of the residential homes, an office and two commercial units in Dunkeld since the 1950s.

    The charity stepped in to save the 17th and 18th century buildings, which were at risk of demolition, taking ownership, restoring the buildings and then letting them to tenants, preserving the unique historic character of Dunkeld town centre which is widely regarded as one of the most attractive in Scotland.

    The charity and Perth and Kinross Council have been working to transfer the homes into the ownership of the Council’s Housing Revenue Account since October 2024.

    Councillor Laing said: “I am delighted that the Council has taken ownership of these homes in a historic part of Dunkeld, securing their future and providing the local community with social housing for affordable rent. We have worked very hard with the National Trust for Scotland to make the transfer as seamless as possible for tenants. I would like to thank the National Trust for Scotland and the tenants for working positively and constructively with us over the last few months.

    “As a large social landlord we will be able to offer tenants lower levels of rent and access to the wide range of Council services enjoyed by all our other tenants, including 24-hour emergency repairs and a programme of investment that will see regular improvements made to the homes.

    “These properties will be a fantastic addition to the stock social housing for the people of Dunkeld, now and into the future.”

    Housing and Social Wellbeing Convener, Councillor Tom McEwan, also attended today. He added: “The tenants here will enjoy a secure tenancy that they can enjoy for as long as they want to, with regular investment to improve their homes to the highest standard possible.

    “I am very happy that we can now offer our services to our new tenants. We have also put arrangements in place that will see people with a connection to Dunkeld given priority consideration should a vacant tenancy arise in one of the properties.” 

    Stuart Maxwell, Regional Director for Edinburgh & East said: “The National Trust for Scotland has been proud to play a part in protecting Dunkeld for many decades and we are confident that these new arrangements will ensure the continued protection of this beautiful town and provide benefits to its tenants. Our conservation charity will continue to take an active role in ensuring that Dunkeld retains the nature, beauty and heritage that makes it so special.”

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Coventry food business fined for cockroach and mouse infestation

    Source: City of Coventry

    A Coventry food business operator has been fined a total of £3,280 after pleading guilty to food hygiene offences.

    Mr Diyar Kadar, the Food Business Operator of 4 Ways Fine Foods, 177 Walsgrave Road, Coventry pleaded guilty to 3 hygiene offences at Coventry Magistrates Court on 29th January 2025. 

    Mr Kadar was fined £200 and ordered to pay costs of £3,000 as well as a victim surcharge of £80.

    Food & Safety Officers visited the business to undertake an unannounced food hygiene inspection following concerns raised about rotten fruit and vegetables in February 2024. During this visit, both cockroach and mouse activity was found inside the premises. The business agreed to voluntarily close as pest activity in food premises is deemed an imminent risk to health.

    After voluntarily closing, the business carried out pest control treatment, cleaning and proofing. Once no further evidence of pests were found and no imminent risk to health remained, the business was then able to reopen.

    Officers revisited on 13th March 2024 where it was noted that cleaning standards had been maintained and there was no evidence of any mice or cockroaches.

    When questioned about the poor conditions found, Mr Kadar admitted the offences and said he had tried to treat the mouse problem and clean regularly but hadn’t realised how bad the infestation was as he had not been spending as much time as he would have liked at the shop due to family circumstances.

    Mr Kadar pleaded guilty to the following offences:

    • Failure to put in place adequate procedures to control pests
    • Failure to keep the premises clean
    • Failure to protect food from contamination

    The business was subject to an unannounced food hygiene inspection in September 2024 where it received a food hygiene rating of 3 (generally satisfactory).

    Councillor Abdul Salam Khan, Cabinet Member for Policing and Equalities, and Deputy Leader at Coventry City Council, said: “It is vital that people running food businesses in Coventry have adequate procedures in place to ensure the safety of the food they sell at all times, even when they themselves are not able to be present at the business.”

    “This is a reminder to all Food Business Operators to ensure they have suitably trained staff on their procedures such as checking for pests every day to prevent a problem like this escalating and causing a risk to health.”

    “We would encourage all residents to report unsatisfactory food hygiene conditions found in food businesses in Coventry to ehcommercial@coventry.gov.uk or call 08085834333.”

    Davina Blackburn, Strategic Lead for Regulation and Communities in the city, said: “We take a staged approach to enforcement, and wherever possible, officers will always try to work with businesses offering advice and guidance but will take the necessary actions if they feel there is a risk to health.

    “On this occasion, closing the premises was necessary to ensure consumers were not put at risk, and the business worked with the team to make the necessary changes to reopen the premises as soon as possible.”

    MIL OSI United Kingdom

  • MIL-OSI: Bitfarms Provides January 2025 Production and Operations Update

    Source: GlobeNewswire (MIL-OSI)

    – Operational hashrate of 15.2 EH/s –
    – Energized two North American sites, Sharon PA & Baie-Comeau QC –
    – Binding LOI with HIVE for sale of 200 MW Yguazu site; Expected Q1 2025 close –
    – Acquisition of Stronghold Digital Mining on track for Q1 2025 close –
    – Signed agreements with ASG and WWT to develop HPC/AI business –

    This news release constitutes a “designated news release” for the purposes of the Company’s second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023.

    TORONTO, Feb. 03, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global Bitcoin and vertically integrated data center company, today issued its latest monthly production report. All financial references are in U.S. dollars.

    CEO Ben Gagnon stated, “2025 is off to a great start. We are on track this quarter to close both our acquisition of Stronghold Digital Mining, Inc. (“Stronghold”) and the strategic sale of our 200 MW Yguazu, Paraguay data center to HIVE Digital Technologies, Ltd. These transactions transform our energy pipeline by immediately rebalancing our portfolio to North America with great assets for both HPC and Bitcoin mining. The accretive sale of Yguazu provides meaningful capital and cost savings associated with the redeployment of miners in the US that will be applied towards our American gigawatt growth pipeline.

    “To accelerate our HPC strategy, we recently engaged two expert consultants to launch a formal evaluation of our data centers and the development of our HPC/AI business. These strategic partners are already evaluating Bitfarms energy portfolio for potential partial or total conversion to HPC/AI sites, as well as developing an accelerated sales strategy to market the sites to potential customers. The long-term contracts associated with HPC/AI customers would better monetize many of our North American energy assets with long-term, steady cash flows and earnings streams, creating a powerful and resilient portfolio that will generate shareholder value for years to come.

    “Operationally we grew our hashrate by 19% in January to 15.2 EH/s with the energization of two additional sites and further miner deployments at the Stronghold sites. Miner deliveries are ongoing in February with installations scheduled through Q2. When all miners are successfully deployed, we will have 21 EH/s installed across 15 sites in 4 countries. However, due to the underperformance of some of our T21 miners, we are derating our guidance by 14% to 18 EH/s in H1 2025. We are focused on resolving the T21 underperformance to drive better performance across all our sites. Our energy efficiency target of 19 w/TH remains unchanged. Additionally, in order to accommodate potential HPC integration into our Sharon location, the construction timeline is being pushed back from 2025 to 2026 reducing our 2025 YE energized capacity by 80 MW. When combined with the Yguazu sale, our 2025 YE energized capacity is 675 MW,” Ben concluded.

    SVP of Global Mining Operations Alex Brammer added, “The 19% increase in monthly hashrate to 15.2 EH/s was achieved by optimizing performance across seven of our data centers and continued miner deployments in the PJM region. For the month overall, our average operational hashrate only increased 1% to 11.2 EH/s, largely due to frequent winter curtailment and increases in hashrate energized later in the month. We expect to continue driving further increases in hashrate and performance through ongoing miner deployments and continued data center optimization initiatives, while taking advantage of improving weather conditions as we move into the shoulder months.

    “With the energization of our Sharon site in PJM, we are now officially in the registration process for participation in Economic Demand Response and other grid support programs offered in this deregulated market. Participation in these programs is the first step in a broader energy arbitrage strategy that we will be developing in the coming months across our PJM portfolio. This strategy will be critical to maximizing the value of our PJM assets and will be greatly facilitated by the deployment of a powerful miner and energy strategy management platform, LōD (formerly known as Lincoin).  The LōD platform is now deployed at every data center across our global fleet, and it is already driving significant improvements in operational efficiency.”

    January 2025 Select Operating Highlights

    Key Performance Indicators January 2025 December 2024 January 2024
    Total BTC earned 201 211 357
    Month End Operating EH/s 15.2 12.8 6.5
    BTC/Avg. EH/s 18 19 60
    Average Operating EH/s 11.2 11.1 5.9
    Operating Capacity (MW) 386 324 240
    Hydropower (MW) 256 256 186
    Watts/Terahash Efficiency (w/TH) 20 21 35
    BTC Sold 42 147 357
    • 15.2 EH/s operational at January 31, 2025, up 19% M/M and up 134% Y/Y.
    • 11.2 EH/s average operational, up 90% Y/Y and up 1% M/M.
    • 18 BTC/average EH/s, 5% lower M/M and 70% lower Y/Y
    • 201 BTC earned, 5% lower M/M and 44% lower Y/Y.
    • 6.5 BTC earned daily on average, equal to ~$682,500 per day based on a BTC price of $105,000 at January 31, 2025.
    • Adopted new LōD miner management software driving better performance, enabling energy trading & demand response and incorporates AI management tools.

    Bitfarms’ BTC Monthly Production

    Month BTC Earned 2025 BTC Earned 2024
    January 201 357


    January 2025 Financial Update

    • Sold 42 of the 201 BTC earned as part of the Company’s regular treasury management practice for total proceeds of $4.1 million.
    • Added 218 BTC, bringing Treasury to 1,152 BTC, up from 934 BTC last month and representing $121.0 million based on the Bitcoin price of $105,000 at January 31, 2025. This includes the repurchase of 88 BTC from Bitmain for $8.3 million, or $94,500 per BTC, in accordance with the miner upgrade agreement announced on November 12, 2024 and the transfer of 30 BTC to a third party as collateral for active derivatives contracts.

    Upcoming Conferences and Events

    • Feb 12, 2025: AGP/ Alliance Global Partners Virtual Tech Conference
    • March 17-18, 2025: 37th Annual ROTH Conference (Dana Point, CA)

    About Bitfarms Ltd.

    Founded in 2017, Bitfarms is a global vertically integrated Bitcoin data center company that contributes its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated mining facilities with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers.

    Bitfarms currently has 13 operating Bitcoin data centers, as well as hosting agreements with two data centers, in four countries: Canada, the United States, Paraguay, and Argentina. Powered predominantly by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

    To learn more about Bitfarms’ events, developments, and online communities:

    www.bitfarms.com
    https://www.facebook.com/bitfarms/
    https://twitter.com/Bitfarms_io
    https://www.instagram.com/bitfarms/
    https://www.linkedin.com/company/bitfarms/

    Glossary of Terms

    • Y/Y or M/M= year over year or month over month
    • BTC or BTC/day = Bitcoin or Bitcoin per day
    • EH or EH/s = Exahash or exahash per second
    • MW or MWh = Megawatts or megawatt hour
    • GW or GWh= Gigawatts or gigawatt hour
    • w/TH = Watts/Terahash efficiency (includes cost of powering supplementary equipment)
    • Synthetic HODL™ = the use of instruments that create BTC equivalent exposure
    • HPC/AI = High Performance Computing / Artificial Intelligence
    • Energized capacity= Power available
    • Operational capacity= Power and infrastructure being used for current operations
    • PJM= Pennsylvania- New Jersey- Maryland Interconnection LLC

    Forward-Looking Statements

    This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. The statements and information in this release regarding projected growth, target hashrate, opportunities relating to the Company’s geographical diversification and expansion, deployment of miners as well as the timing therefor, closing of the Stronghold acquisition on a timely basis and on the terms as announced, the positive impact of the Stronghold acquisition and the ability to gain access to additional electrical power and grow hashrate of the Stronghold business, performance of the plants and equipment upgrades and the impact on operating capacity including the target hashrate and multi-year expansion capacity, the opportunities to leverage Bitfarms’ proven expertise to successfully enhance energy efficiency and hashrate, the benefits of diversification and other statements regarding future growth, plans and objectives of the Company are forward-looking information. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “prospects”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.

    This forward-looking information is based on assumptions and estimates of management of the Company at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to: the construction and operation of the Company’s facilities may not occur as currently planned, or at all; there is no guarantee that the Company will be able to complete the acquisition of Stronghold Digital Mining, Inc. on the terms as announced, or at all; expansion may not materialize as currently anticipated, or at all; the anticipated merits of the HPC/AI strategy, the benefits and programs of the PJM deregulated market and the objectives of diversification in general may not be realized as planned; efforts to improve and optimize the performance of equipment may not be successful; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company’s electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company’s profitability; the ability to complete current and future financings; the risk that a material weakness in internal control over financial reporting could result in a misstatement of the Company’s financial position that may lead to a material misstatement of the annual or interim consolidated financial statements if not prevented or detected on a timely basis; any regulations or laws that will prevent Bitfarms from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; and the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca (which are also available on the website of the U.S. Securities and Exchange Commission at www.sec.gov), including the restated MD&A for the year-ended December 31, 2023, filed on December 9, 2024. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended, including factors that are currently unknown to or deemed immaterial by the Company. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law . Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange, Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.

    Additional Information about the Stronghold Acquisition and Where to Find It

    This communication relates to a proposed merger between Stronghold and Bitfarms. In connection with the proposed merger, Bitfarms has filed the registration statement with the SEC. After the registration statement is declared effective, Stronghold will mail the proxy statement/prospectus to its shareholders. This communication is not a substitute for the registration statement, the proxy statement/prospectus or any other relevant documents Bitfarms and Stronghold has filed or will file with the SEC. Investors are urged to read the proxy statement/prospectus (including all amendments and supplements thereto) and other relevant documents filed with the SEC carefully and in their entirety if and when they become available because they will contain important information about the proposed merger and related matters.

    Investors may obtain free copies of the registration statement, the proxy statement/prospectus and other relevant documents filed by Bitfarms and Stronghold with the SEC, when they become available, through the website maintained by the SEC at www sec.gov. Copies of the documents may also be obtained for free from Bitfarms by contacting Bitfarms’ Investor Relations Department at investors@bitfarms.com and from Stronghold by contacting Stronghold’s Investor Relations Department at SDIG@gateway-grp.com.

    No Offer or Solicitation

    This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy, sell or solicit any securities or any proxy, vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

    Investor Relations Contact:

    Bitfarms
    Tracy Krumme
    SVP, IR & Corp. Comms.
    +1 786-671-5638
    tkrumme@bitfarms.com

    Media Contact: 

    Bitfarms
    Caroline Brady Baker 
    Director, Communications   
    cbaker@bitfarms.com 

    The MIL Network

  • MIL-OSI: LeddarTech Enters Into Amendments to Credit Facility and Bridge Financing Offer

    Source: GlobeNewswire (MIL-OSI)

    QUEBEC CITY, Canada, Feb. 03, 2025 (GLOBE NEWSWIRE) — LeddarTech® Holdings Inc. (“LeddarTech”) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology, LeddarVision™, today announced that it has entered into:

    • a fifteenth amending agreement (the “Fifteenth Amending Agreement”) with Fédération des caisses Desjardins du Québec (“Desjardins”) with respect to the amended and restated financing offer dated as of April 5, 2023 (the “Desjardins Credit Facility”), pursuant to which Desjardins has agreed to, among other things, (i) temporarily postpone payment of interest for the months of July through December 2024 until the earlier of (x) the date of the final disbursement of one or several equity investments in the borrower for minimum gross proceeds amount of US$35,000,000 in the aggregate (the “Short-Term Outside Date”), and (y) February 28, 2025; and (ii) temporarily reduce the minimum cash covenant under the Desjardins Credit Facility to C$1,000,000 until the earlier of (x) the Short-Term Outside Date, and (y) February 28, 2025, and a minimum cash balance of C$5,000,000 at all times after such date;
    • a third amending agreement (the “Third Amending Agreement”) with the initial bridge lenders and certain members of management and the board of directors (collectively, the “Bridge Lenders”) with respect to the bridge financing offer dated as of August 16, 2024 (the “Bridge Financing Offer”) pursuant to which the Bridge Lenders have agreed to, among other things, extend the maturity of the bridge loan to the earlier of (x) February 28, 2025 and (y) the business day following the Short-Term Outside Date.

    The Fifteenth Amending Agreement to the Desjardins Credit Facility also provides for a monthly payment by LeddarTech to Desjardins of C$125,000, which monthly fee is earned and payable on the first day of each month, until the Short-Term Outside Date, which must occur on or prior to February 28, 2025. The payment of the monthly fees applicable for the month of August 2024 and for the months up until (and including) January 2025 is postponed to the earlier of (x) the Short-Term Outside Date, and (y) February 28, 2025.

    The foregoing descriptions of the Fifteenth Amending Agreement to the Desjardins Credit Facility and the Third Amending Agreement to the Bridge Financing Offer do not purport to be complete and are qualified in their entirety by reference to such amendments, copies of which will be filed under LeddarTech’s SEDAR+ and EDGAR profiles at www.sedarplus.ca and www.sec.gov, respectively.

    About LeddarTech

    A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.

    LeddarTech is responsible for several remote-sensing innovations, with over 170 patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.

    Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter (X), Facebook and YouTube.

    Forward-Looking Statements

    Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech’s anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) our ability to timely access sufficient capital and financing on favorable terms or at all; (ii) our ability to maintain compliance with our debt covenants, including our ability to enter into any forbearance agreements, waivers or amendments with, or obtain other relief from, our lenders as needed; (iii) our ability to execute on our business model, achieve design wins and generate meaningful revenue; (iv) our ability to successfully commercialize our product offering at scale, whether through the collaboration agreement with Texas Instruments, a collaboration with a Tier 2 supplier or otherwise; (v) changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs, projects, prospects and plans; (vi) changes in general economic and/or industry-specific conditions; (vii) our ability to retain, attract and hire key personnel; (viii) potential adverse changes to relationships with our customers, employees, suppliers or other parties; (ix) legislative, regulatory and economic developments; (x) the outcome of any known and unknown litigation and regulatory proceedings; (xi) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak, as well as management’s response to any of the aforementioned factors; and (xii) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Form 20-F filed with the SEC. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Maram Fityani, Media and Public Relations, LeddarTech Holdings Inc.
    Tel.: + 1-418-653-9000 ext. 623, maram.fityani@leddartech.com

    Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

    LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”

    The MIL Network