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Category: Universities

  • MIL-OSI Economics: The ImaSpiiR-X consortium receives support from France 2030 to improve the management of cancer and cardiovascular diseases through medical imaging

    Source: Thales Group

    Headline: The ImaSpiiR-X consortium receives support from France 2030 to improve the management of cancer and cardiovascular diseases through medical imaging

    France 2030 has announced its support for the ImaSpiiR-X consortium, providing €18.2 million in funding over 60 months to move from black-and-white X-ray medical imaging (which displays only tissue density) to full-colour spectral imaging (capable of identifying tissue composition). To achieve this, the consortium will develop next-generation flat-panel detectors that will provide enriched digital radiographic images, along with advanced analysis algorithms.

    ImaSpiiR-X will help physicians in real time to perform more comprehensive and accurate diagnoses, better guide their procedures with the assistance of an advanced imaging system, and therefore save precious minutes in patient care. This is particularly crucial for certain critical conditions such as strokes (cerebrovascular accidents), during which two million neurons are lost every minute. Strokes are the leading cause of disability and the third-leading cause of death in France.

    ImaSpiiR-X brings together key national players from industry and academia: Trixell, the project coordinator, CEA, Thales, Pyxalis, and Claude Bernard University Lyon 1. Located in the Rhône-Alpes region within the world-class competitiveness clusters of Minalogic and Lyonbiopôle, they complement each other by providing the necessary expertise in materials, semiconductors, electronics, and algorithms, with breakthrough technologies serving the medical community. These five partners will oversee the technological development of the project, preclinical validations, and industrial optimisation for the commercialisation of spectral flat-panel detectors. They will also rely on a team of international medical experts.

    This project will strengthen the French ecosystem, a global leader in interventional radiology and real-time image-guided surgery, while improving the quality of care provided to patients. The flat-panel detectors resulting from this collaboration will be manufactured in France, with the majority of supplies sourced from more than 200 French suppliers.

    MIL OSI Economics –

  • MIL-OSI Video: Ahead of the Threat Podcast: Episode Eight – Scott Aaronson

    Source: Federal Bureau of Investigation (FBI) (video statements)

    Class is in session! Professor Scott Aaronson, a leading researcher in quantum computers, takes time away from his teaching at the University of Texas at Austin to give Ahead of the Threat a detailed overview of quantum theory and the applications of what a quantum computer could do—when one is invented. Though a real quantum computer remains unlikely for a few more years, its potential to unravel nearly all known encryption has led to the development of post-quantum encryption to protect sensitive data.

    In the episode’s Top Three segment that highlights current cybersecurity news, hosts Bryan Vorndran, assistant director of the FBI’s Cyber Division, and Jamil Farshchi, FBI strategic engagement advisor, discuss Google’s acquisition of the cloud computing company Wiz for $32 billion; the European Union’s Artificial Intelligence Act, and a new ransomware attack at Jaguar Land Rover.

    You can read an FBI Joint Cybersecurity Advisory on Medusa Ransomware at https://www.cisa.gov/news-events/cybersecurity-advisories/aa25-071a. You can also read NIST’s Post-Quantum Cryptography Standardization Overview at https://csrc.nist.gov/projects/post-quantum-cryptography.

    Listen to Ahead of the Threat episodes, read the transcripts, and find related material at https://www.fbi.gov/aheadofthethreat.
    —————————————————
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    MIL OSI Video –

  • MIL-Evening Report: Early exposure to air pollution could affect brain development and mental health later in life: new research

    Source: The Conversation (Au and NZ) – By Matthew Hobbs, Associate Professor and Transforming Lives Fellow in Spatial Data Science and Planetary Health, Sheffield Hallam University

    Getty Images

    Exposure to air pollution in early life could have lasting effects on child development and mental health in adolescence, according to our recent study.

    We integrated air pollution data with existing longitudinal data from the Christchurch Health and Development Study (CHDS). The CHDS has followed more than 1,200 children born in the city in 1977, with a strong focus on developmental and mental health outcomes.

    Our aim was to examine how exposure to air pollution shapes development and mental health in later childhood and adolescence. We found an increased risk of attention problems, conduct issues, lower educational attainment and substance abuse in adolescence associated with higher exposure.

    Existing evidence often focuses on adulthood. However, by tracking air pollution exposure from the prenatal period to the age of ten, and linking this data to subsequent cognitive and mental health outcomes, we were able to highlight the long-term consequences of growing up in polluted environments.

    Air pollution is one of the leading environmental contributors to disease, especially respiratory and cardiovascular conditions. Children are especially vulnerable to air pollution because their brains and bodies are developing.

    A growing body of evidence suggests air pollution could affect brain development, educational attainment and mental health, contributing to depression, anxiety and conduct or attention problems. Despite this, few studies have tracked long-term exposure to air pollution from early childhood.

    Patterns of exposure

    We chose to conduct this research in Christchurch because the city is a historical air-pollution hotspot, with a documented history of measurements, and because of its long-running birth cohort study.

    The CHDS collects detailed information on participants’ health, development, education and family backgrounds from prenatal into adulthood.

    The city of Christchurch now enjoys much better air quality, but it was an air-pollution hotspot in the past.
    Flickr/Larry Koester, CC BY-SA

    For this study, we linked historical air-pollution data, measured as the concentration of black smoke from 1977 to 1987, to residential locations of birth cohort members. This allowed researchers to estimate each child’s annual exposure to air pollution during key developmental periods.

    We found four distinct patterns of air-pollution exposure across childhood (see graph below):

    • consistently low (these children had the lowest levels of air pollution throughout childhood)

    • consistently high (this groups had the highest levels of air pollution from birth to the age of ten)

    • elevated preschool (exposure peaked between ages three to six and then declined)

    • high prenatal and postnatal (high exposure before and immediately after birth, but declining later).

    We then examined whether children in the higher exposure groups were more likely to experience adverse impacts on cognition, educational achievement and mental health in later childhood and adolescence.

    We adjusted for a range potential confounders such as socioeconomic status, neighbourhood disadvantage and parental characteristics.

    We found children with elevated pre-school exposure had poorer educational attainment and a higher likelihood of conduct disorders and substance abuse problems. High prenatal and postnatal exposure was linked to a greater risk of attention problems as well as substance abuse in adolescence.

    Children with persistently high air-pollution exposure were more likely to develop attention problems and had higher odds of substance abuse issues in adolescence.

    Researchers identified four different trajectory patterns of exposure to air pollution from the prenatal period through to the age of ten.
    Author provided, CC BY-SA

    What these findings mean

    The effects of air pollution on several outcomes were small at an individual level, but they could be highly important at a population level.

    This is because even small shifts in cognitive and mental health outcomes, when applied to entire populations of children exposed to poor air quality, could have major consequences affecting future educational achievement, workforce productivity and public health burdens.

    These findings support previous research suggesting air pollution could affect brain function by causing inflammation, oxidative stress and affecting neurodevelopmental pathways. Importantly, they reinforce the idea that certain developmental periods, such as the prenatal period and early childhood, may be especially sensitive to pollution exposure.

    We need further research to confirm our findings but potential considerations include reducing children’s exposure to air pollution and improving urban air quality by cutting emissions from vehicles, industry and residential heating.

    We should also promote cleaner energy sources to decrease exposure to harmful pollutants such as nitrogen dioxide and fine particulate matter. Providing better access to green spaces may mitigate the impact of air pollution.

    To strengthen public health and policy measures, we need stricter air quality regulations, particularly around schools and childcare centres. We should also implement air-quality monitoring in urban areas to identify high-risk zones for children.

    Better public information is crucial to minimise indoor and outdoor pollution exposure. This could include the use of air purifiers for indoor activies or limiting outdoor exposure during peak pollution periods.

    Further research and action

    Our study highlights the need for more research on air pollution’s effects on children’s mental health and cognition, particularly in different environmental and socioeconomic contexts.

    Policymakers, educators and healthcare professionals must consider air pollution as a potential risk factor for developmental challenges, not just a physical health concern.

    Air pollution may not be visible in the same way as poor housing or inaccessible healthcare, but its impact on child development could be important at a population level.

    Given the rising prevalence of mental ill health in young people and adults, tackling air pollution could be an overlooked but essential public health strategy for protecting future generations.

    Associate Professor Matthew Hobbs receives funding from Health Research Council of New Zealand and the Clare Foundation, New Zealand.

    Joseph Boden receives funding from the New Zealand Ministry of Business, Innovation and Enterprise, and the Health Research Council of New Zealand.

    Lianne Jane Woodward and Susie (Bingyu) Deng 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. Early exposure to air pollution could affect brain development and mental health later in life: new research – https://theconversation.com/early-exposure-to-air-pollution-could-affect-brain-development-and-mental-health-later-in-life-new-research-252644

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Tiny robot tools powered by magnets could one day do brain surgery without cutting open the skull

    Source: The Conversation (Au and NZ) – By Changyan He, Lecturer, School of Engineering, University of Newcastle

    Photo supplied.

    Most brain surgery requires doctors to remove part of the skull to access hard-to-reach areas or tumours. It’s invasive, risky, and it takes a long time for the patient to recover.

    We have developed new, tiny robotic surgical tools that may let surgeons perform “keyhole surgery” on the brain. Despite their small size, our tools can mimic the full range of motion of a surgeon’s wrist, creating new possibilities for less-invasive brain surgery.

    Tiny tools for brain surgery

    Robotic surgical tools (around 8 millimetres in diameter) have been used for decades in keyhole surgery for other parts of the body. The challenge has been making a tool small enough (3mm in diameter) for neurosurgery.

    In a project led by the University of Toronto, where I was a postdoctoral fellow, we collaborated with The Hospital for Sick Children (SickKids) in Canada to develop a set of very small neurosurgery tools.

    The tools are only about 3mm in diameter. In a paper published in Science Robotics, we demonstrated these tools could grip, pull and cut tissue.

    Their extremely small size is possible as they are powered not by motors but by external magnetic fields.

    Three magnetic tools: a cutter, a gripper and forceps.
    Changyan He

    Current robotic surgical tools are typically driven by cables connected to electric motors. They work in much the same way as human fingers, which are manipulated by tendons in the hand connected to muscles in the wrist.

    However, pulleys smaller than several millimetres wide to control the instruments are weak and prone to friction, stretch and fracture. This creates challenges in scaling down the instruments, because of difficulties in making the parts of the system, assembling the mechanisms and managing friction in the cables.

    Magnetic controls

    The new robotic system consists of two parts. The first is the tiny tools themselves: a gripper, a scalpel and a set of forceps. The second part is what we call a “coil table”, which is a surgical table with several electromagnetic coils embedded inside.

    In this design, the patient would be positioned with their head on top of the embedded coils, and the robotic tools would be inserted into the brain via a small incision.

    Patients would lie on a ‘coil table’ containing magnets which are used to control the surgical tools.
    Changyan He

    By altering the amount of electricity flowing into the coils, we can manipulate the magnetic fields, causing the tools to grip, pull or cut tissue as desired.

    In open brain surgery, the surgeon relies on their own dexterous wrist to pivot the tools and tilt their tips to access hard-to-reach areas, such as removing a tumour inside the central cavity of the brain. Unlike other tools, our robotic neurosurgical tools can mimic this with “wristed” movements.

    Surprising precision

    We tested the tools in pre-clinical trials where we simulated the mechanical properties of the brain tissue they would need to work with. In some tests, we used pieces of tofu and raspberry placed inside a model of the brain.

    We compared the performance of these magnetically operated tools with that of standard tools handled by trained surgeons.

    We found the cuts made with the magnetic scalpel were consistent and narrow, with an average width of 0.3–0.4mm. That was even more precise than those from traditional hand tools, which ranged from 0.6 to 2.1mm.

    The magnetic scalpel, shown slicing some tofu inside a model of the brain, can make cuts more precise than those done with traditional tools.
    Changyan He

    As for the grippers, they could pick up the target 76% of the time.

    The magnetic grippers (shown here picking up some raspberry) were successful 76% of the time.
    Changyan He

    From the lab to the operating room

    We were surprised by how well the robotic tools performed. However, there is still a long way to go until this technology could help patients. It can take years, even decades, to develop medical devices, especially surgical robots.

    This study is part of a broader project based on years of work led by Eric Diller from the University of Toronto, an expert on magnet-driven micro-robots.

    Now, the team wants to make sure the robotic arm and magnetic system can fit comfortably in a hospital operating room. The team also wants to make it compatible with imaging systems such as fluoroscopy, which uses x-rays.
    After that, the tools may be ready for clinical trials.

    We’re excited about the potential for a new era of minimally invasive neurosurgical tools.

    Changyan He 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. Tiny robot tools powered by magnets could one day do brain surgery without cutting open the skull – https://theconversation.com/tiny-robot-tools-powered-by-magnets-could-one-day-do-brain-surgery-without-cutting-open-the-skull-253042

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Every 3 years, we play the election date waiting game. Are fixed terms the solution?

    Source: The Conversation (Au and NZ) – By Jill Sheppard, Senior Lecturer, School of Politics and International Relations, Australian National University

    With another election campaign unofficially underway, voters may feel it hasn’t been long since they were last at the voting booth.

    Australia’s Constitution dictates:

    every House of Representatives shall continue for three years from the first meeting of the House, and no longer, but may be sooner dissolved by the Governor-General.

    This allows the sitting government to call an election sooner than three years after taking office, but recent norms are for governments to use the full term length available to them.

    But how do politicians and the public feel about this format, and could this change anytime soon?

    Early elections

    In 1998, the John Howard Liberal government called an early election seeking voters’ support for its ambitious plans to introduce a goods and service tax. It came very close to defeat, but clawed its way to victory and nine more years of power.

    In 2016, the Malcolm Turnbull Liberal government took a similar punt, calling an early double dissolution election ostensibly on the issue of union corruption. Again, it came very close to defeat but clawed its way to victory (and six more years of power).

    Despite their reasons for calling early elections, both Howard and Turnbull faced declining global economic conditions and arguably moved tactically to avoid campaigning in the worst of the headwinds.

    Most governments have less appetite for capitalising on external events – like interest rate cuts – when calling an election. Voters already largely distrust politicians, and cynical early elections will only confirm their beliefs.

    Fixed versus non-fixed parliamentary terms

    The ability of a government to unilaterally decide the election date is unusual.

    The political systems most similar to Australia – New Zealand, Canada, the United Kingdom, the United States – all have fixed election dates. Australian states and territories have also increasingly moved to fixed dates, where the government of the day has no discretion over election timing.

    As prime minister, Julia Gillard effectively relinquished her right to manipulate the 2013 election date in her favour. She announced it more than seven months ahead of time. Her government lost the subsequent election.

    Unsurprisingly, there is little political will to move to fixed dates for federal elections. Only current Special Minister of State Don Farrell has expressed even passing support for the idea (and then, only if voters were clearly in favour).

    Fixed terms would undoubtedly benefit voters, who could plan their calendars well in advance. They would also benefit non-government parties and independent candidates, who could budget and plan campaigns around a known election date.

    Who wants longer terms?

    Prime Minister Anthony Albanese supports four-year terms, reflecting long-term Labor Party policy.

    The Liberal Party has generally been more ambivalent. Howard was supportive but “not mad keen” in 2005 and supportive, but resigned to failure in 2024.

    Current leader Peter Dutton also backs longer terms, but observes that, among voters, “generally, there is a reluctance to do anything that makes the life of a politician easier”.

    Beyond voters’ reluctance to grant a one-year extension to politicians’ tenure, the issue of senate term lengths is an obstacle to reform.

    Current tradition sets senate terms twice the length of House of Representatives terms, however, Penny Wong has argued that eight-year terms are too long.

    Both New South Wales and South Australia have experience with eight-year terms in their upper houses, but no other states have yet followed.

    How could (and will) terms be changed?

    Any change to federal parliamentary terms would require a successful referendum. The question has been put to Australians once before, in 1988. Only 33% of voters supported the proposal, and no state achieved majority support.

    Polling from April 2024 finds only 38% support, with 18% unsure. Independent and minor party voters – the fastest growing group in Australian politics – were also the most strongly opposed to longer terms.

    As Dutton noted, voters have been reluctant to support “politician-friendly” referendums in the past. There seems almost no chance the 48th parliament would consider a referendum on the issue.

    Would 4-year terms make politics better?

    David Coleman, recently promoted to the Liberal Party’s frontbench, has confidently declared “businesses and consumers tend to hold off on investment during election periods and the phoney war that precedes them”, and so longer terms would improve the domestic economy.

    The business sector seems to agree.

    Are they right? And what about non-economic outcomes?

    Academic research backs up the assumption governments are less likely to announce major tax reforms in the months leading into an election. Shorter terms might also make governments less likely to introduce austerity (strict cost-cutting) measures.

    The weight of academic evidence suggests that whichever party is in power matters far more than the length of the electoral cycle.

    Researchers have struggled to find differences in how politicians with longer terms (usually four years) behave from those with shorter terms (usually two years). Activity levels for the shorter-term politicians appear slightly more frenetic – more fundraising and expenditure, more campaigning – but the outcomes are similar.

    Longer terms do not seem destined to fix Australia’s political malaise.

    Jill Sheppard receives funding from the Australian Research Council.

    – ref. Every 3 years, we play the election date waiting game. Are fixed terms the solution? – https://theconversation.com/every-3-years-we-play-the-election-date-waiting-game-are-fixed-terms-the-solution-250273

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Department of Human Services, IUP Announce Collaboration to Train Future Physicians in Clinical Setting at Torrance State Hospital, Helping to Address Urgent Need for Rural Health Care Workers

    Source: US State of Pennsylvania

    March 25, 2025 – Torrance, PA

    Department of Human Services, IUP Announce Collaboration to Train Future Physicians in Clinical Setting at Torrance State Hospital, Helping to Address Urgent Need for Rural Health Care Workers

    DHS Secretary Dr. Val Arkoosh today joined leadership from the Indiana University of Pennsylvania (IUP) to announce the signing of a clinical training affiliation agreement for students at IUP’s proposed College of Osteopathic Medicine at Torrance State Hospital. This partnership with IUP will educate and train future osteopathic physicians in a clinical setting at Torrance State Hospital while also addressing the urgent need for health care professionals in rural and underserved communities.

    “I began my career practicing medicine in teaching hospitals in Philadelphia, and I saw firsthand how vital hands-on clinical experience in a real hospital environment was to the medical professionals in training,” said Secretary Arkoosh. “It is our hope that this partnership with IUP will give students the skills they need to promote individuals’ health and wellbeing while contributing to their communities’ health and investing in their future careers. I’m grateful for the work staff at Torrance do every day to support Pennsylvanians, and this partnership with IUP will be a vital part of the rural health solution.”

    Speaker list:
    Phil Mader, Director of State Hospital Operations,
    Stacey Keilman, Chief Executive Officer, Torrance State Hospital
    Dr. Michael Driscoll, President, Indiana University of Pennsylvania
    Secretary Valerie Arkoosh, Department of Human Services
    Jonathan Longwill, District Director for Senator Joe Pittman
    Dr. Daleep Rathore, Interim Chief Medical Officer, Department of Human Services
    Dr. Ryan Smith, Founding Associate Dean of Clinical Affairs, IUP Proposed College of Osteopathic Medicine
    Dr. Miko Rose, Founding Dean, IUP Proposed College of Osteopathic Medicine

    MIL OSI USA News –

  • MIL-OSI Global: Electric cars are going mainstream – Elon Musk won’t change that

    Source: The Conversation – UK – By Jack Marley, Environment + Energy Editor, UK edition

    “When you ride Tesla, you ride with Hitler” according to a reworked second world war propaganda poster that was discovered in Oakland, California last month.

    When did an electric car brand supposedly become associated with the far right? Perhaps when its CEO, Elon Musk, embraced Donald Trump and the Maga movement that propelled him to a second term as US president. Tesla dealerships have been targets for protests and vandalism, while the company’s sales and stock price have fallen recently.

    “But those same political controversies may ironically help broaden the mass market appeal of electric vehicles,” says Hannah Budnitz, a research associate at the Transport Studies Unit of Oxford University.

    “This is an industry that needs to go beyond the early adopter tech bros – and now might be the moment.”

    This roundup of The Conversation’s climate coverage comes from our award-winning weekly climate action newsletter. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed.

    But first, a disclaimer

    Around a fifth of the greenhouse gas emissions heating Earth can be traced to a vehicle exhaust pipe. The more combustion engines that can be replaced with electric batteries, the less getting from A to B will exacerbate climate change.

    However, electric cars, like those sold by Tesla, are an imperfect solution to the climate crisis.

    “Huge amounts of land which could otherwise be used to house people or be dedicated to nature are still reserved for roads and car parks,” says Vera O’Riordan, an energy policy researcher at University College Cork.



    Read more:
    Electric cars aren’t enough to hit climate targets: we need to develop better public transport too

    And while driving an EV doesn’t emit CO₂, it does emit stuff you wouldn’t want to breathe in. Electric cars, which contain heavy batteries, wear down their tyres faster than conventional cars and generate more microplastic particles in the process, according to Henry Obanya, an ecotoxicologist at the University of Portsmouth.

    Obanya estimates that as much as a quarter of all microplastics in the environment could have come from car tyres.



    Read more:
    Car tyres shed a quarter of all microplastics in the environment – urgent action is needed

    So, the strategy of putting an EV in every garage has its limits (not least the fact that not everyone has a garage, or the space to charge an electric car).

    A more efficient way to decarbonise the second-largest emission source by sector (power generation is first) would be to follow the advice of the Intergovernmental Panel on Climate Change. The IPCC, which is made up of scientists and other experts convened by the UN, recommends that countries plan their transport systems according to the maxim “avoid, shift, improve”.

    This involves, O’Riordan explains, avoiding unnecessary journeys by designing towns and cities with amenities in walking distance, shifting passengers onto higher-occupancy vehicles like buses by expanding public transport and improving all travel options by switching from fossil fuels to electric propulsion.

    Let’s assume that decades of car-first urban planning have boxed us in and we don’t have time to undo it before the climate is cooked. How can more motorists be persuaded to turn in their gas-guzzler for a battery-powered model?

    It’s the price, stupid

    Back to Budnitz – and the waning influence of the EV industry’s tech-bro boosters.

    “In 2010, when Tesla became the first American carmaker to go public since Ford in 1956, fully electric cars were still a niche technology,” she says.



    Read more:
    Why the Tesla backlash could help electric cars finally go mainstream

    Back then, Tesla adverts targeted the customers it thought would be early adopters: overwhelmingly, wealthy men like Musk. It worked. Survey after survey in North America and Europe showed that EV ownership in the early 2010s was skewed towards men and those on higher incomes.

    This is in stark contrast to electric car marketing at the dawn of motoring. In 1900, petroleum-powered cars were in the minority (22% of all cars) and were widely considered temperamental “adventure machines” that were prone to breaking down. Electric cars were pitched as a safer, cleaner alternative that was perfect for city travel.



    Read more:
    Electric cars were once marketed as ‘women’s cars’. Did this hold back their development over the next century?

    Perfect, in fact, for wealthy women. During the 1910s, when Victorian attitudes towards gender roles reigned and women were presumed to have limited mobility needs (no need to worry about your battery running flat if you’re not going far), 77% of EVs directly appealed to female consumers.

    “In the short term, this was a successful strategy: car manufacturers that advertised to female consumers survived much longer,” says economic historian Josef Taalbi (Lund University). The only major electric car producer in the US to survive into the 1920s advertised to women, he adds.

    In 2013, there were still less than 60,000 EVs on the road globally. A decade later, almost the same number are sold every day.

    “The transition to electric personal mobility is well underway around the world,” says Budnitz. “Tesla’s troubles won’t stop this – but they can give the car industry an opportunity to make the messaging around electric vehicles more diverse, equitable and inclusive for the mass market.”

    EV manufacturers can make their case to all drivers because they now offer a mass-market product, Budnitz argues. Nowhere is this more true than in Norway, which may become the first country to sell only zero-emission vehicles this year (88.9% of all vehicles sold in Norway in 2024 were fully-electric).

    What’s Norway’s secret?

    “Generous, comprehensive subsidies”, say Agnieszka Stefaniec and Keyvan Hosseini, transport researchers at the University of Southampton.



    Read more:
    How smaller, more affordable electric cars can accelerate the green transition

    “Our recent research shows that affordability is a tool to get everyone on board. When lower-income households face affordability barriers, it’s not just their problem – it’s the missing link to achieving 100%. Smaller, more affordable electric cars could be the game changer needed to bridge this gap.”

    – ref. Electric cars are going mainstream – Elon Musk won’t change that – https://theconversation.com/electric-cars-are-going-mainstream-elon-musk-wont-change-that-253060

    MIL OSI – Global Reports –

  • MIL-OSI USA: Warren Statement on Arrest of Tufts Student

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    March 26, 2025

    Washington, D.C. – Following reports that U.S. Department of Homeland Security agents detained an international student in a graduate program at Tufts University, U.S. Senator Elizabeth Warren (D-Mass.) released the following statement:

    “This arrest is the latest in an alarming pattern to stifle civil liberties. The Trump administration is targeting students with legal status and ripping people out of their communities without due process. This is an attack on our Constitution and basic freedoms — and we will push back.”

    MIL OSI USA News –

  • MIL-OSI USA: News Briefs: February-March 2025

    Source: US Geological Survey

    News Briefs: February-March 2025

    News Briefs – featuring coastal and ocean science from across the USGS.

    Check out recent news highlights below!

    Connect with us on Social Media

    Check out other coastal and marine news

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    USGS and the U.S. Board on Geographic Names have implemented name changes following Executive and Secretary’s Orders.

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    USGS scientists from all three Coastal and Marine Hazards and Resources Program Science Centers attended and presented an array of topics at Coastal…

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    Scientists from USGS SPCMSC, University of South Florida (Tampa), and the Gulf Shellfish Institute are collaborating to improve understanding of hard…

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  • MIL-OSI Global: Donald Trump’s ‘chilling effect’ on free speech and dissent is threatening US democracy

    Source: The Conversation – UK – By Dafydd Townley, Teaching Fellow in US politics and international security, University of Portsmouth

    The second Donald Trump administration has already sent shockwaves through the political establishment on both sides of the Atlantic. Overseas, the focus has been on the administration’s apparent dismantling of the post-war international order and Trump’s apparent pivot away from America’s traditional allies towards a warmer relationship with Russia and Vladimir Putin. But within the United States itself, the greatest concerns are associated with administration actions that, for many, suggest a deliberate destruction of American democracy.

    Such fears in the US are not isolated to the political elites, but are shared by citizens across the entire nation. But what is also emerging is a concerted assault on people’s ability to push back – or even complain – about some of the measures being introduced by Trump 2.0. This will inevitably result in what is often called a “chilling effect”, where it becomes too hard – or too dangerous – to voice dissent.

    Many of Trump’s policies – the mass deportations, the wholesale sacking of public servants by Elon Musk and his Department of Government Efficiency (Doge), the decision to revoke birthright citizenship for the children of undocumented immigrants – have been challenged in the courts. The Trump administration is now embroiled in a range of legal challenges. It is here that Trump’s disdain for a legal system that has temporarily blocked the wishes of the president has emerged.

    Chilling effect

    Judicial decisions calling for the administration to reverse or pause some of these policies have been greeted by Trump and some of his senior colleagues (including Musk and the vice-president J.D.Vance), with noisy complaints at judicial interference in government. Even, in some cases, calls for the impeachment of judges who rule against the government.

    Not only did the administration ignore the court’s ruling that suspended the forced expulsion of Venezuelans to El Salvador, some of whom were in the US legally, but Trump attacked the judge on social media calling him a corrupt “radical left lunatic” and called for his impeachment.

    This stirred the chief justice of the Supreme Court, John Glover Roberts Jr., to intervene. He reminded the president that America doesn’t settle its disputes, saying that the “normal appellate review process exists for that purpose”. Later, Tom Homan, Trump’s chief adviser on immigration issues, told ABC News that the administration would abide by court rulings on the matter.

    The pressure being brought to bear on America’s legal system has not stopped at the judiciary. Trump has recently targeted some of America’s biggest and most powerful law firms, seemingly for no other reason than their acting for clients who have opposed his administration.

    On March 25, Trump signed an executive order targeting Jenner & Block, one of whose partners, Andrew Weissmann, worked with special prosecutor Robert Mueller on the investigation into Russian meddling in the 2016 presidential election. The executive order calls for the firms to be blacklisted from government work and for their employees to have any security clearances removed, for them to be barred from any federal government contracts and refused access to federal government buildings. A death warrant for the firm in other words.

    Sign up to receive our weekly World Affairs Briefing newsletter from The Conversation UK. Every Thursday we’ll bring you expert analysis of the big stories in international relations.

    This follows the news that the head of the prestigious law firm Paul Weiss, Brad Karp, had signed a deal with the White House committing to providing millions of dollars worth of pro-bono legal work for causes nominated by the president. He’s also agreed to stop using diversity, equity and inclusion (DEI) policies, which had been faced with a similar fate.

    Silencing dissent

    This administration’s chilling effect has also extended to an attack on press freedom. Trump has expelled established news organisations from the Pentagon, curtailed access to press events for the esteemed Associated Press, and taken control of the White House press pool, sidelining major media outlets.

    These actions mark a significant downgrading of press freedom in America. They are undermining the role of independent journalism in their key function of holding power to account. By restricting access and silencing critical voices, his administration has raised concerns over transparency and the free flow of information in the domestic media landscapes.

    Universities have traditionally been bastions of independent thought. We saw that with the massive protests against US policy towards Israel and Palestine which have roiled campuses during the conflict in Gaza. But universities are also seen by many in the administration as a hotbed of “woke” activism. Accordingly Trump 2.0 has fixed its sights on one of the most prominent US universities: Columbia.

    Citing what it says is a repeated failure to protect students from antisemitic harassment, the administration cancelled US$400m (£310 million) of federal contracts with the university. Columbia caved in to the pressure moments before the administration’s deadline passed. It agreed to overhaul its disciplinary procedures and “review” its regional studies programmes, starting with those covering the Middle East.

    Columbia’s academic staff are horrified. They are launching legal action against the government, alleging that “the Trump administration is coercing Columbia University to do its bidding and regulate speech and expression on campus”.

    Democracy in peril

    Why is this all so worrying? The legal system, the media and universities are the pillars of US democratic freedoms. The Trump administration’s undermining of these institutions is a blatant attempt to impose an authoritarian rule by bypassing any counterbalance to executive power. And the US Supreme Court has ruled that he is almost entirely immune from prosecution while doing it.

    The checks and balances system of government in the US was designed to ensure that no single branch could dominate the political process. But partisan loyalty, and loyalty to Trump over the party, now outweighs constitutional responsibility for the majority of those within the Republican Party.

    American democracy is under threat. Not from the external existential threats it faced over the past century such as communism and Islamic fundamentalism, but from within its own system. Those Americans who are terrified about this threat are trying to fight back, but Trump’s assault on dissent is so chilling that this is becoming increasingly dangerous.

    Dafydd Townley 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. Donald Trump’s ‘chilling effect’ on free speech and dissent is threatening US democracy – https://theconversation.com/donald-trumps-chilling-effect-on-free-speech-and-dissent-is-threatening-us-democracy-253139

    MIL OSI – Global Reports –

  • MIL-OSI Global: How two recent productions of Oedipus offer different meanings through the role of the chorus

    Source: The Conversation – UK – By Will Shüler, Vice-Dean of Education and Senior Lecturer, School of Performing and Digital Arts, Royal Holloway University of London

    The London theatre scene was all abuzz in January 2024 when two different star-studded West End productions of the ancient Greek tragedy Oedipus were announced within minutes of each other.

    The first production of the Sophocles tragedy, adapted and directed by Robert Icke and starring Mark Strong and Leslie Manville, ran from October 2024 to January 2025, with a Broadway transfer to New York’s Roundabout Theatre Company planned for this autumn.

    The second – which closes at the end of this month – opened weeks later at the Old Vic in a version by Ella Hickson, co-directed by Hofesh Shechter and Matthew Warchus, and starring Rami Malek and Indira Varma.

    Historically, ancient Greek tragedies were retellings of ancient myths, performed in ways that encouraged the audience to reflect upon an old story in a new way. Two London productions of Oedipus might seem like overkill, but they actually demonstrate the versatility of the tragic form.

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    Both productions rework the myth, allowing contemporary audiences to consider different perspectives on the play’s themes of power and knowledge.

    One of the defining aspects of the ancient Greek tragedy is the chorus. Originally they performed in the orchestra of an ancient theatre – the space between the actors and the audience. Their performance of odes was in song and dance form, and the content might reflect upon the play’s events from their perspective, provide background that was either directly or indirectly related to the plot, or spur on the action of the play.

    In Oedipus, the chorus is comprised of citizens of Thebes. The city is suffering from a terrible curse and Oedipus, the king, takes it upon himself to rectify this by following the advice of the gods to discover and punish the murderer of the previous king, Laius.

    The chorus first enters singing – and dancing – about the disasters the people have been facing and prays for their end. For the rest of the play, from the foot of the palace, the chorus observes Oedipus’s investigation, horrific discovery and the piteous aftermath for his family.

    The treatment of the role of the chorus in these two West End productions are essential to the different meanings they make and how they invite audiences to reflect upon the myth in relation to our own world.

    In the Icke adaptation, Oedipus is with his family (wife Jocasta, mother Merope, brother-in-law Creon and three adult children Antigone, Polynices and Eteocles) at his campaign headquarters on the evening of the election.

    In this version the challenge the city faces is governmental corruption. Icke has included more family members than are in Sophocles’s original text and cut the role of the chorus entirely. Its exclusion means the governmental corruption is seen almost entirely from the point of view of this political family.

    The only perspective we get from the citizens is an opening video sequence as Oedipus is interviewed by the press, and the frequent election result updates. The people elect Oedipus. They want what he promises – an end of governmental corruption.

    Icke’s Oedipus strives to do the right thing and break from the string of corrupt, deceitful, narcissistic politicians who have been plaguing the city. The play thereby draws contemporary connections to “draining the swamp” and the “fake news” accusations of Donald Trump.

    Without reflections from the people (the chorus), the play becomes a personal drama about the family’s interests and public image. Oedipus and Jocasta’s grisly ends are entirely about their personal horror at the discovery they have made – that she is actually his mother.

    There is no reflection on how the play’s ending relates to the ongoing trouble faced by the citizens. In this version of events the final impression feels pessimistic – even when leaders try to do the right thing, the system ensures that they will fail.

    In the Old Vic production, the play is set in a Thebes that is suffering from extreme drought (likely alluding to the climate crisis). In Hickson’s adaptation, the chorus remains, but their words have been removed. Only their dance is performed between the scenes of the actors.

    This is not to say that the Sophocles text has been “translated” into movement by Shechter, but rather that the historic function of the chorus (to contemplate, to reflect, to spur on) remains by means of what is communicated in dance – which, according to the Guardian’s theatre critic David Jays becomes “the irresistible core of the tragedy”.

    In the play’s script, each scene ends with the deceptively simple word: “dance”. In performance, Oedipus’ investigation into what is causing the drought, contemplation of prophecies and public speeches to the people of Thebes are all interspersed with Shechter’s evocative choreography. We see their suffering, we see their prayers, we see their perseverance. Their needs never fade into the background but remain the consistent pulse of the play.

    In this version, when Oedipus has his moment of revelation, the rain comes and the people dance in it. This moment imparts impressions of renewed faith, solidarity, fruitfulness, pride, rebirth and life continuing.

    Oedipus enters having blinded himself, not out of personal horror, but in order to cleanse the city and ensure its continued godly favour. In contrast to the Icke production, Schechter and Warchus’s version – though still tragic – is ultimately hopeful.

    The leader has taken responsibility for what they have done and put the needs of the people over his own ambitions and desires. The last moment is not Oedipus’s. It is the chorus’s – and we watch them dance.

    Will Shüler 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 two recent productions of Oedipus offer different meanings through the role of the chorus – https://theconversation.com/how-two-recent-productions-of-oedipus-offer-different-meanings-through-the-role-of-the-chorus-252862

    MIL OSI – Global Reports –

  • MIL-OSI: PIMCO Names Janet Yellen and Raghuram Rajan to its Global Advisory Board (GAB); Gordon Brown Becomes Chair

    Source: GlobeNewswire (MIL-OSI)

    • Janet Yellen served as Treasury Secretary in the Biden Administration and Chair of the Federal Reserve from 2014 to 2018
    • Raghuram Rajan served as the Governor of the Reserve Bank of India and as Chief Economist at the International Monetary Fund
    • Gordon Brown, former UK Prime Minister, becomes Chair of the GAB
    • Ben Bernanke, former Chair of the Federal Reserve, retiring from role as Chair of PIMCO’s GAB after 10 years service
    • Mark Carney, Canadian Prime Minister, also recently stepped down from GAB

    NEWPORT BEACH, Calif., March 26, 2025 (GLOBE NEWSWIRE) — PIMCO, one of the world’s premier fixed income investment managers, announces the addition of Janet Yellen, former U.S. Secretary of the Treasury and Chair of the Federal Reserve, and Raghuram Rajan, former Governor of the Reserve Bank of India and Chief Economist at the International Monetary Fund, to its Global Advisory Board. The Board provides PIMCO with insights on global economic, political, and strategic developments and their relevance for financial markets.

    In addition, Gordon Brown, former UK Prime Minister (2007-2010) and Chancellor of the Exchequer (1997-2007), becomes Chair of the Board. Mr. Brown, who has been a member of PIMCO’s GAB since its founding in 2015, replaces Ben Bernanke, who is retiring after serving 10 years as Chair of the GAB. Mark Carney, Prime Minister of Canada, previously announced his resignation from PIMCO’s GAB in January, when he announced his candidacy for political office. He had served on the Board since 2020.

    Before serving as the 78th U.S. Secretary of the Treasury from 2021-2025, Secretary Yellen was Chair of the Board of Governors of the Federal Reserve from 2014 to 2018 and Vice Chair 2010 to 2014. Secretary Yellen has also held positions at Harvard University, the London School of Economics, and the University of California, Berkeley, where she is now professor emeritus. Her extensive contributions to economic policy and research have established her as a leading figure in the field.

    Dr. Raghuram Rajan’s career is distinguished by his influential roles in global economic institutions. He was the 23rd Governor of the Reserve Bank of India from 2013 to 2016 – where he implemented key reforms to stabilize the Indian economy – and was Chief Economist and Director of Research at the International Monetary Fund from 2003 to 2006. He is also a Professor of Finance at the University of Chicago Booth School of Business.

    “Secretary Yellen and Dr. Rajan’s deep expertise in economic policy make them remarkable additions to our Global Advisory Board,” said Emmanuel Roman, PIMCO’s Chief Executive Officer. “Their insights will be crucial for us as we continue to navigate the complexities of the global economy and assess their potential impact on markets for our clients.”

    “Understanding the complexities and impact of central bank policymaking, international governance and economic conditions on fast-moving markets are critical components of our investment strategy. Secretary Yellen and Dr. Rajan’s invaluable insights and experience, and Prime Minister Brown’s leadership as chair, will provide PIMCO clients with deep expertise and knowledge in assessing investment risk and opportunity,” said Dan Ivascyn, PIMCO’s Group Chief Investment Officer.

    “We also want to thank Chair Ben Bernanke and Prime Minister Carney for their leadership and valued perspectives over many years on the Global Advisory Board during their constant presence at our investment forums and in guidance to our Investment Committee. We will miss their thoughtful insights and wish them well,” said Mr. Roman.

    The Global Advisory Board consists of a diverse group of experts who provide strategic insights into global economic, political, and strategic developments. Secretary Yellen and Dr. Rajan will join Gordon Brown, Joshua Bolten, former White House Chief of Staff, and Michele Flournoy, U.S. defense policy advisor in two U.S. presidential administrations.

    Janet Yellen
    Janet L. Yellen served as 78th Secretary of the Treasury from 2021 through 2025. Previously, she was a Distinguished Fellow in Residence at the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution. She also served as Chairman of the Board of Governors of the Federal Reserve System from 2014 through February 2018, Vice Chair of the Board of Governors from 2010 to 2014 and president and chief executive officer of the Federal Reserve Bank of San Francisco from 2004 to 2010. Dr. Yellen previously served as a member of the Board of Governors of the Federal Reserve System from August 1994 through February 1997, whereupon she was appointed by President Bill Clinton to serve as chair of the Council of Economic Advisers, a post she held until August 1999. Dr. Yellen has written on a wide variety of macroeconomic issues, specializing in the causes, mechanisms, and implications of unemployment. She began her career as an assistant professor at Harvard University and then served as an economist with the Federal Reserve’s Board of Governors before joining the faculty of the London School of Economics in 1978. In 1980 she joined the faculty of the University of California at Berkeley, where she was named the Eugene E. and Catherine M. Trefethen Professor of Business and Professor of Economics, and where she is currently a professor emeritus. Dr. Yellen graduated from Brown University in 1967 and received her PhD in economics from Yale University in 1971. She received the Wilbur Cross Medal from Yale in 1997, honorary degrees from Brown, Bard College, NYU, the London School of Economics and Political Science, the University of Warwick, Yale, the University of Michigan and the University of Pennsylvania. She is a member of the Council on Foreign Relations and the American Academy of Arts and Sciences and has served as President of the American Economic Association and the Western Economic Association and a fellow of the Yale Corporation. She is a Distinguished Fellow of the American Economic Association.

    Raghuram Rajan

    Raghuram Rajan is the Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth. He was the 23rd Governor of the Reserve Bank of India between September 2013 and September 2016. Between 2003 and 2006, Dr. Rajan was the Chief Economist and Director of Research at the International Monetary Fund. Dr. Rajan’s research interests are in banking, corporate finance, and economic development. The books he has written include Breaking the Mold: Reimagining India’s Economic Future with Rohit Lamba, The Third Pillar: How the State and Markets hold the Community Behind 2019 which was a finalist for the Financial Times Business Book of the Year prize and Fault Lines: How Hidden Fractures Still Threaten the World Economy, for which he was awarded the Financial Times prize for Business Book of the Year in 2010. Dr. Rajan is a member of the Group of Thirty. He was the President of the American Finance Association in 2011 and is a member of the American Academy of Arts and Sciences. In January 2003, the American Finance Association awarded Dr. Rajan the inaugural Fischer Black Prize for the best finance researcher under the age of 40. The other awards he has received include the Infosys prize for the Economic Sciences in 2012, the Deutsche Bank Prize for Financial Economics in 2013, Euromoney Central Banker Governor of the Year 2014, and Banker Magazine (FT Group) Central Bank Governor of the Year 2016. Dr. Rajan is the Chairman of the Per Jacobsson Foundation, the senior economic advisor to BDT Capital, and a managing director at Andersen Tax.

    About PIMCO
    PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients’ capital across a range of fixed income and credit opportunities, drawing upon our decades of experience navigating complex debt markets. Our flexible capital base and deep relationships with issuers have helped us become one of the world’s largest providers of traditional and nontraditional solutions for companies that need financing and investors who seek strong risk-adjusted returns.

    Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO’s sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.

    Contact:
    Michael Reid
    PIMCO – Media Relations
    Ph. 212-597-1301
    Email: Michael.Reid@pimco.com

    The MIL Network –

  • MIL-OSI USA: Cassidy, Padilla Reintroduce Bill to Modernize Health Care System, Improve Access to Digital Health Services

    US Senate News:

    Source: United States Senator for Louisiana Bill Cassidy
    WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA) and Alex Padilla (D-CA) reintroduced the Health Accelerating Consumers’ Care by Expediting Self-Scheduling (ACCESS) Act to improve patients’ access to modernized health care, provide certainty for patients seeking digital health services, and protect patients’ personal health information.
    “It’s enough to struggle with an illness. Patients should have easy access to the care they need,” said Dr. Cassidy. “There are plenty of tools to provide affordable, quality care. As a doctor, I’m focused on using them.”
    “Every American deserves easy access to physical and mental health care,” said Senator Padilla. “As provider wait times increase, integrating digital health programs into our health care system is essential to efficiently administering care. We cannot let scheduling obstacles prevent Americans in crisis from receiving care when they need it most.”
    The COVID-19 pandemic accelerated the demand for digital health services and other innovative practices. Under current law, however, there is no distinction between illegal referral practices and scheduling services that reduce the barriers associated with accessing necessary and appropriate care. The Health ACCESS Act would adjust the Anti-Kickback Statute (AKS) to remove the regulatory ambiguity allowing digital health and appointment booking platforms to work together to better serve patients. Doing so ultimately improves access to care via user-friendly services, expands provider choice and scheduling availability, and enhances the overall health care experience and ecosystem.
    The Health ACCESS Act is supported by Advanced Dermatology and Cosmetic Surgery, Boston Medical Center, Brownsville Community Health Center (FQHC), California Children’s Hospital Association, California Hospital Association, Circle Medical, Chronic Care Policy Alliance, Corewell Health, Digital Health New York (DHNY), GoHealth Urgent Care, Grow Therapy, HANYS (Health Assoc of NYS), Healthcare Leadership Council (HLC), Housing Works Community Healthcare (FQHC), Illinois Hospital Association, Indiana University Health, Intermountain Health, LabFinder, Main Line Health, Manhattan Cardiology, Medical Offices of Manhattan, Memorial Hermann Health System, Octave, SohoMD, Spring Branch Community Health Center (FQHC), Stanford Children’s Hospital, and The Dermatology Specialists.

    MIL OSI USA News –

  • MIL-OSI Global: Global population data is in crisis – here’s why that matters

    Source: The Conversation – UK – By Andrew J Tatem, WorldPop Director, Professor of Spatial Demography and Epidemiology, University of Southampton

    Arthimedes/Shutterstock

    Every day, decisions that affect our lives depend on knowing how many people live where. For example, how many vaccines are needed in a community, where polling stations should be placed for elections or who might be in danger as a hurricane approaches. The answers rely on population data.

    But counting people is getting harder.

    For centuries, census and household surveys have been the backbone of population knowledge. But we’ve just returned from the UN’s statistical commission meetings in New York, where experts reported that something alarming is happening to population data systems globally.

    Census response rates are declining in many countries, resulting in large margins of error. The 2020 US census undercounted America’s Latino population by more than three times the rate of the 2010 census. In Paraguay, the latest census revealed a population one-fifth smaller than previously thought.

    South Africa’s 2022 census post-enumeration survey revealed a likely undercount of more than 30%. According to the UN Economic Commission for Africa, undercounts and census delays due to COVID-19, conflict or financial limitations have resulted in an estimated one in three Africans not being counted in the 2020 census round.

    When people vanish from data, they vanish from policy. When certain groups are systematically undercounted – often minorities, rural communities or poorer people – they become invisible to policymakers. This translates directly into political underrepresentation and inadequate resource allocation.

    As the Brookings Institution, a US research organisation, has highlighted, undercounts have “cost communities of colour political representation over the next decade”.

    This is happening because several factors have converged. Trust in government institutions is eroding worldwide, with the Organisation for Economic Co-operation and Development (OECD) reporting that by late 2023, 44% of people across member countries had low or no trust in their national governments. Research shows a clear trend of declining trust specifically in representative institutions like parliaments and governments. This makes people less likely to respond to government-issued census requests.

    The COVID-19 pandemic created logistical nightmares for census takers. Many countries had to postpone their censuses. Budget cuts to statistical offices reduced capacity, while countries struggled with recruiting field staff.

    International funding for population data is also disappearing. The US-funded Demographic and Health Surveys program, which provided vital survey data across 90 countries for four decades, was terminated in February 2025. Unicef’s Multi-Indicator Cluster program, which carries out household surveys, faces an uncertain future amid shrinking global aid budgets. US government cuts to support for UN agencies and development banks undertaking census support will likely have further impacts.

    This is incredibly worrying to us as geography academics, because gathering accurate population data is fundamentally about making everyone visible. As population scientists Sabrina Juran and Arona Pistiner wrote, this information allows governments to plan for the future of a country and its people.

    The US census directly impacts the allocation of more than US$1.5 trillion (£1.2 trillion) in public resources each year. How can governments distribute healthcare funding without knowing who lives where? How can disaster response be effective if vulnerable populations are invisible in official population counts?

    Solutions that count

    Countries are adapting. The COVID-19 pandemic accelerated the transition to alternative census methodologies. Many countries turned to online questionnaires, telephone interviews and administrative data sources to reduce face-to-face interactions.

    The UN Economic Commission for Africa recommends that countries move from using paper forms for census data collection and embrace new digital technologies that can be cheaper and more reliable. Turkey’s switch in 2011 reduced census costs from US$48.3 million to US$13.9 million while improving data quality and timeliness, and nearly 80% of countries used tablets or smartphones for data collection in the 2020 round of censuses.

    Collecting census data digitally in Pakistan in 2023.
    Abdul Rauf Khan/Shutterstock

    At WorldPop, our research group at the University of Southampton, we’re also helping governments to develop solutions using new technologies. Buildings mapped from satellite imagery using AI, together with counts of populations from small areas, can help create detailed population estimates to support census implementation or provide estimates for undersurveyed areas.

    As we face growing challenges, from climate change to economic inequality, having accurate, reliable and robust population data isn’t a luxury. It’s essential for a functioning society. National statistical offices, UN agencies, academics, the private sector and donors must urgently focus on how to build cost-effective solutions to provide reliable and robust population data, especially in resource-poor settings where recent cuts will be felt hardest.

    When people disappear from the data, they risk disappearing from public policy too. Making everyone count starts with counting everyone.

    Don’t have time to read about climate change as much as you’d like?

    Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.

    Andrew J Tatem works for the University of Southampton, and is Director of WorldPop. His research on mapping populations has been funded by donors such as the Gates Foundation, Wellcome Trust, GAVI.

    Jessica Espey works for the University of Southampton. Her research on data, statistics and evidence use has previously been funded by the William and Flora Hewlett Foundation, Gates Foundation and others.

    – ref. Global population data is in crisis – here’s why that matters – https://theconversation.com/global-population-data-is-in-crisis-heres-why-that-matters-251751

    MIL OSI – Global Reports –

  • MIL-OSI Global: Humans are bad at reading dogs’ emotions – but we can do learn to do better

    Source: The Conversation – UK – By Juliane Kaminski, Associate professor of comparative Psychology, University of Portsmouth

    Seregraff/Shutterstock

    A lot of dog owners believe that they can tell what their dogs are feeling. They believe that they can assess their dog’s emotions no matter the context.

    Yet newspapers frequently publish stories about dogs who attack “out of nowhere”, where owners claim there were “no signs” prior to the attack. A recent US study has found the answer may lie with humans – as it turns out, we’re not very good at interpreting dogs’ emotions.

    Previous research has shown that experience with dogs affects how successful people are in assessing a dog’s emotional state. As a psychologist, the more I know about dogs and the more I study and observe them, the better I become in assessing their behaviour. However, even experts can struggle to get it right.

    In the recent US study, researchers looked at how successful people are at assessing dogs’ emotions from looking at pictures. The images showed the dogs in different postures such as submissive or anxious. Sometimes the context around the dog was positive (for example, the owner approaching the dog with a lead) and sometimes the context around was negative (a person about to scold the dog).

    The study found that the context influenced whether people assessed the dog’s behavioural response as positive or negative even though the posture and other signals didn’t change.

    Research also suggests we have the tendency to misinterpret some facial expressions of dogs. A 2018 University of Lincoln study examined how children aged three to five years old and their parents interpret dogs’ facial expressions.

    Participants were shown pictures of dogs, for example showing bare teeth, which signals high levels of distress. The children especially misinterpreted that as a smiling and happy dog. The study also showed that interventions, which educated participants on how to interpret dogs’ behavioural signals, increased their understanding of dogs’ stress signals (though this was mostly true in the adults).

    We tend to anthropomorphise and attribute human emotions to our dogs. A good example of this is the so-called guilty look. You often see videos on social media in which a dog avoids eye contact with humans, for example turning its head slightly to the side.

    If this happens after the dog has done something they shouldn’t have, the owner may classify this as indicative of shame or guilt. In reality, dogs avoid eye contact as a kind of deescalation behaviour.
    It indicates that they do not want a confrontation. Perhaps the owner has already reacted to the mishap. Or the dog has learned to expect a reaction from the owner in certain situations. Insecure or fearful dogs also often avoid eye contact because they feel threatened or intimidated. However, this behaviour has little to do with shame.

    Another classic misconception is that a dog that wags its tail is a happy and friendly dog. In reality, a wagging tail only means that the dog is aroused. To assess the dog’s emotional state, you also have to consider the position of the tail. If it is standing upright, then this is more a sign of a tense dog. If it is positioned lower and the movement of the tail is relaxed and wide from left to right, then it is probably a friendly signal.

    We anthropomorphise dogs because we have evolved a human-specific way to interpret others’ emotions. If we see a person who pulls up the corners of their mouth and smiles, then we understand them to be happy or at least cheerful. That leads to problems if we apply that system to interpret other species’ emotional expressions.

    Could do with adding subhead here

    So how can we analyse dogs’ emotional expression in an objective way? One approach that scientists use is a technical method called DogFACS. In this method, each facial muscle is assigned a movement on the surface of the face. Facial movements are documented by numbers and analysed separately from each other.

    In 2013 University of Portsmouth researchers went to dog shelters across the UK and filmed dogs for two minutes each. They then analysed the dogs’ behaviour, including their facial expressions.

    The animal shelter told the researchers how long it took for the filmed dogs to be adopted by new owners. Neither barking nor wagging tails influenced the adoption rate, but only a specific eyebrow movement: the so-called puppy dog eyes look. The more often the dogs raised their eyebrows and produced the puppy dog eyes, the quicker they were rehomed. Nothing else had an effect. This could be because the puppy dog eyes resemble a facial movement that we produce when we are sad and makes us want to care for the dog.

    Could you resist those puppy dog eyes?
    SakSa/Shutterstock

    In fact my 2019 study showed that the facial muscle anatomy of dogs has evolved for facial communication with humans. My team compared the facial muscle anatomy of dogs and wolves and demonstrated that the facial muscles of dogs and wolves are identical – except for one muscle, the levator anguli oculi medialis. This muscle is responsible for the lifting of the inner eyebrow in dogs.

    We may not be much good at reading dogs’ emotions but as the University of Lincoln study shows, we can learn to be.

    Juliane Kaminski receives funding from ASAB.

    – ref. Humans are bad at reading dogs’ emotions – but we can do learn to do better – https://theconversation.com/humans-are-bad-at-reading-dogs-emotions-but-we-can-do-learn-to-do-better-252773

    MIL OSI – Global Reports –

  • MIL-OSI Global: Britons increasingly trust each other – but trust in politicians has slumped since the pandemic

    Source: The Conversation – UK – By Ben Seyd, Senior Lecturer in Politics, University of Kent

    ITS/Shutterstock

    One surprise in the early days of the pandemic was people’s increased willingness to trust political authorities. According to the British Social Attitudes survey (BSA), the proportion of people trusting government ministers rose from 15% in 2019 to 23% in 2020. Data from Ipsos MORI showed a similar bounce for trust in government ministers and politicians in 2021. Trust in government was also a significant factor in whether people complied with lockdown rules and other restrictions.

    Since then, however, people’s trust in government has plummeted. The latest BSA survey finds that, in 2023, just 14% of the population said they trust government “always” or “most of the time”. Fully 45% of the population trust government “almost never”. These are the most negative set of figures since the BSA began asking questions on trust almost four decades ago.

    This collapse in trust is perhaps unsurprising given the various government shenanigans over the past few years, notably Boris Johnson’s Downing Street lockdown parties and Liz Truss’s disastrous prime ministerial tenure. However, there is also evidence that Britons have become less trusting as a result of dashed expectations over the benefits of Brexit, negative views of government performance in areas like health, and cost of living pressures.

    Yet while Britons are less trusting of those with political authority, they appear to be more trusting in each other. Back in 1999, 29% of the population believed that “most people [in Britain] can be trusted”. Four decades on, that proportion has increased to 46%, topping the previous high of 43% in 1981. This might partly reflect the sense of collective endeavour and neighbourliness that was instilled during the pandemic, when we were encouraged to look out for, and help, other people. There is also evidence that, while people see the country as a whole as becoming more divided, at the local level perceptions of unity outweigh perceptions of division.

    This is a welcome shift, particularly since trust in other people is associated with a range of positive outcomes, including support for international cooperation and international organisations. In an uncertain and dangerous world, social trust may be an important factor shaping the willingness of states to work together.

    Wellbeing of politicians

    The decline of popular trust in government and politicians is concerning. Low trust is associated with support for populist politicians such as Donald Trump and upheavals like Brexit. Low trust could also significantly compromise public acceptance of, and compliance with, official messages and rules in a future pandemic.

    Distrust can also cause direct harm to public figures. As one of us (James) has shown, politicians are generally poor estimators of public trust in themselves. But where they do perceive widespread distrust, often because of repeated experiences of physical or online abuse and intimidation, this has a significant negative effect on their mental health and wellbeing.

    Messages of kindness and community around London during lockdown.
    Alex Yeung/Shutterstock

    Increased security around MPs – the cost of which jumped from £77,234.67 to £4,381,733.40 between 2014 and 2022 – is likely to protect them from the worst excesses of public distrust where it trickles over into extreme behaviour. Yet given the importance of contact for people’s trust, it could also inadvertently fuel more cynicism by increasing the physical distance between politicians and the public.

    The public’s declining regard for politicians and government should be a source of concern. We are hardly likely to recruit the calibre of politician we expect (and need), or indeed encourage a more diverse population of aspiring representatives, if the personal costs of holding elected office are so high.

    At the same time, a look at the bigger picture offers some reassurance. As one of us (Ben) has recently shown, there is little evidence that low trust induces popular scepticism towards democracy itself, or that it weakens public support for state spending or government programmes in key areas like healthcare.

    Trust on the frontline

    The nature and strength of Britain’s civic ties are revealed not only in our trust of politicians and institutions, but also in how we treat the people who provide public services, such as police officers and health workers.

    On the face of it, the picture is not pretty. Over the past few years, rates of public abuse towards frontline service providers have increased. In 2021, 18% of teachers reported having experienced verbal abuse from a parent or carer in the past year. In 2023, that figure had risen to 30%.

    A survey of police officers in 2022 found that 37% had experienced verbal insults at least once a week over the past year. This was an increase from the 29% of officers who reported a similar level of insults in 2020, although the figure dropped slightly in 2023 to 34%.

    Rates of physical abuse of London ambulance staff have more than doubled in four years, with 346 incidents recorded in 2019, increasing to 728 incidents in 2023. A similar picture of public abuse is found for frontline workers in the health service. Polling in 2023 found that 85% of GPs across the UK had received verbal abuse from members of the public during the past year. A 2021 survey by the British Medical Association found more than half of GPs, and one in five hospital doctors, had experienced verbal abuse in the past month.

    While majorities of the British public express trust in many frontline workers such as nurses and doctors (who currently attract 94% and 88% trust ratings), others appear to take a more negative view, extending even to abusive behaviour.

    Given the range of service providers facing such rising antipathy, it seems unlikely that the trigger for this was the pandemic. A better clue is provided by longer-term data on public treatment of doctors.

    Responses are to a survey question reading ‘In the last 12 months, have you personally experienced harassment, bullying or abuse at work from patients, their relatives or members of the public?’.
    Author provided, data from NHS Staff Survey

    NHS survey figures show that rates of abuse towards doctors declined between 2003 and 2011. (The wording of the relevant survey question changed in 2012, which restricts our ability to compare the more recent data). This was precisely the period when resources were pumped into the health service and public satisfaction with the NHS increased. This suggests that public interactions with frontline service workers like doctors are strongly shaped by the quality of the service they face.

    Indeed, GPs themselves ascribe the verbal abuse they and their staff experience to people’s dissatisfaction with the service, including discontent with access to health services. One underappreciated effect of austerity might thus be an increased public frustration with healthcare workers, which on occasion appears to extend to outright abuse.

    More accessible (read: better funded) public services might reduce some negativity towards frontline service workers. However, the important task of rebuilding people’s trust in politicians is – particularly given the negative coverage by much of Britain’s media – likely to be a trickier task.

    James Weinberg receives funding from the Economic and Social Research Council.

    Ben Seyd 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. Britons increasingly trust each other – but trust in politicians has slumped since the pandemic – https://theconversation.com/britons-increasingly-trust-each-other-but-trust-in-politicians-has-slumped-since-the-pandemic-252762

    MIL OSI – Global Reports –

  • MIL-OSI Global: Why eating yoghurt regularly could lower your risk of bowel cancer

    Source: The Conversation – UK – By Justin Stebbing, Professor of Biomedical Sciences, Anglia Ruskin University

    Josep Suria/Shutterstock

    Hard on the heels of impressive research findings that a glass of milk is good for reducing cancer risk, another recent study has highlighted the potential benefits of yoghurt consumption in lowering the risk of certain types of cancer – particularly colorectal cancer.

    The number of new colorectal cancer cases among people under 55 has doubled globally in recent years, with diagnoses increasing by nearly 20%. As a consultant oncologist, many people have asked me how their risk can be reduced.

    The emerging evidence suggests that regular yoghurt consumption may have a protective effect against certain aggressive forms of colorectal cancer by modifying the gut microbiome, the natural bacteria that live in the gut.

    The gut microbiome plays a crucial role in overall health, influencing digestion, immune function and even cancer risk. The gut bacteria can live inside cancer itself, and in general a healthy balance of these bacteria is thought to be essential for maintaining a strong immune system and preventing inflammation, which can contribute to cancer development.



    Read more:
    Gut bacteria nurture the immune system – for cancer patients, a diverse microbiome can protect against dangerous treatment complications

    Yoghurt contains live cultures of beneficial bacteria, such as lactobacillus bulgaricus and streptococcus thermophilus, which can help maintain this balance.

    The study found that consuming two or more servings of yoghurt per week was associated with a lower risk of a specific type of aggressive colorectal cancer, which occurs on the right side of the colon and is associated with poorer survival outcomes compared with cancers on the left side.

    The study analysed data from over 150,000 participants followed for several decades, indicating that long-term yoghurt consumption may alter the gut microbiome in ways that protect against certain cancers. Researchers surveyed the participants every two years about their yoghurt intake, and measured the amount of Bifidobacterium (a type of bacteria found in yoghurt) in the tumour tissue of 3,079 people within the sample who were diagnosed with colorectal cancer.

    While yoghurt did not directly lower the risk for all types of colorectal cancer, those who ate two or more servings of yoghurt per week had a lower risk of developing “Bifidobacterium-positive proximal colon cancer”, a type of colorectal cancer that occurs in the right side of the colon and has one of the lowest survival rates. This new work also validates and builds on previous studies showing similar findings.

    Several mechanisms have been proposed to explain how yoghurt might reduce cancer risk. One key mechanism is the modulation of the gut microbiome. Yoghurt’s probiotics can enhance the diversity and balance of gut bacteria, potentially reducing inflammation and levels of cancer-causing chemicals (carcinogens).

    Additionally, yoghurt may exert anti-inflammatory effects on the colon lining cells, called the mucosa, which could help prevent cancer development. Improving gut barrier function is another potential mechanism, as yoghurt may reduce gut permeability, which is linked to increased cancer risk.

    Choose wisely

    Beyond its potential anti-cancer effects, yoghurt offers several other health benefits. Like milk, it is rich in calcium, which supports bone density and may reduce the risk of brittle bones, known as osteoporosis.

    Regular yoghurt consumption has also been associated with lower blood pressure and reduced risk of cardiovascular disease. Some studies suggest that yoghurt intake may help prevent type 2 diabetes and other diseases too.

    But when incorporating yoghurt into your diet, it’s important to choose wisely. Opt for plain, unflavoured yoghurt to avoid added sugars, which can negate health benefits – for example by causing weight gain, which is a risk factor for obesity and cancer.

    Different fermentation processes can result in varying levels of beneficial bacteria, so look for yoghurts with live cultures. Plain, unsweetened Greek yoghurt is generally higher in protein and lower in sugar, while full-fat yoghurt often has fewer processed ingredients than reduced-fat or non-fat variations.

    Yoghurt contains all nine essential amino acids, and aside from improving gut health, a serving of plain Greek yoghurt contains 15 to 20 grams of protein.

    There are nearly 45,000 cases of bowel cancer every year in the UK, making it the nation’s fourth most common cancer, and third worldwide – but many of these are preventable.

    According to Cancer Research UK data, 54% of all bowel cancers could be prevented by having a healthier lifestyle. Smoking, lack of exercise, alcohol, eating processed meat, and poor diet are all significant factors in the development of bowel cancer.

    The emerging evidence suggests that yoghurt, particularly when consumed regularly, may play a role in reducing the risk of certain aggressive forms of colorectal cancer. While more research is needed to fully understand these effects, incorporating yoghurt into a balanced diet could be a beneficial choice for overall health.

    But as with any dietary recommendation, it’s crucial to consider the broader context of a healthy lifestyle, including a diverse diet rich in fruits, vegetables and whole grains, along with regular physical activity. While yoghurt is not a magic bullet against cancer, it is a nutritious food that can contribute to a healthy diet and potentially offer protective effects against certain cancers.

    As research continues to uncover the complex relationships between diet, gut health and cancer risk, incorporating yoghurt into your daily routine may be a simple yet beneficial step towards a healthier life.

    Justin Stebbing 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. Why eating yoghurt regularly could lower your risk of bowel cancer – https://theconversation.com/why-eating-yoghurt-regularly-could-lower-your-risk-of-bowel-cancer-251942

    MIL OSI – Global Reports –

  • MIL-OSI Global: Trump’s America is facing an Andrew Jackson moment – and it’s bad news for the constitution

    Source: The Conversation – UK – By Sean Lang, Visiting Fellow in History, Anglia Ruskin University

    Statue of Andrew Jackson in Layfayette Square, Washington DC. Flickr

    How do you deal with an American president who does not obey the US constitution? The question has arisen because the recent episode where deportation flights carrying Venezuelans were dispatched to El Salvador, despite a court ruling that those flights must not proceed, suggests Donald Trump’s administration has a limited understanding of the separation of powers in the US. A president has no power to defy a court order.

    Similarly, a Brown University medical professor, Rasha Alawieh, was deported to Lebanon because of a perceived sympathy for Hezbollah, despite the fact she had a valid US work visa and despite a judge’s order blocking her removal from the US.

    This administration’s seemingly blatant disregarding of constitutional procedure is not the first time such a problem has arisen. Early in the life of the new republic it was posed by the election to the presidency in 1828 of Andrew Jackson. Jackson, an unashamed populist, harboured deep suspicion of all federal institutions. His belief in states’ rights sometimes trumped his commitment to the union.

    Trump echoes Jackson in many ways. Just as Trump reviles Joe Biden, so Jackson scorned his predecessor, John Quincy Adams. Trump’s attacks on institutions such as USAid and the Department of Education, is echoed by Jackson’s extraordinary war on the Bank of the United States, which he thought too big and grand for a democratic people.

    But the parallels come closest in relation to forced expulsion, whether of individuals in Trump’s case, or of whole peoples in Jackson’s.

    When Europeans established their colonies in the Americas, they justified their presence by asserting the philosopher John Locke’s principle that legal title to land belonged to those who farmed it. Since the native peoples were mostly nomadic hunters, this legal fiction enabled the Europeans and their American successors to seize land while claiming it was theirs “by right”.

    But the peoples of the American southeast – the Chickasaw, Choctaw, Creek, Seminole and Cherokee – took the Europeans at their word. They adopted a much more European lifestyle, establishing towns, wearing European clothing, even converting to Christianity. But above all, they started farming the land, even to the point of owning slaves to work on it. They were known, rather patronisingly, as the “five civilised tribes”.

    None of this adoption of western culture would save them, however, when Georgian cotton planters realised, first, that the tribes were sitting on prime cotton-growing land and, subsequently, that there was gold in Cherokee territory. In 1828 the state of Georgia claimed jurisdiction over all the land of the five tribes. Jackson, an old “Indian fighter” and a staunch states-rights southerner who was about to begin his stint as seventh US president, clearly sympathised.

    Jackson’s first State of the Union address made it clear that he intended to remove all the “Indian” tribes to the desert lands west of the Mississippi. In Congress, Jackson’s opponents accused him of betraying the very principles on which the republic had been founded. What had these people done that required their removal – and since they were indeed farmers, why was their right to their own land not to be respected in law?

    Despite these good reasons for these people to be allowed to stay, the 1830 Removal Act passed and the Chickasaw, Choctaw and Creek peoples packed up and left. The Seminole attempted armed resistance but were defeated.

    Supreme Court versus the US president

    The Cherokee took their case to the Supreme Court. The US Supreme Court had originally been intended merely as a final court of appeal, but under its long-sitting chief justice, John Marshall, it had established itself as the ultimate arbiter of what was and was not lawful according to the constitution. And this included acts of the president.

    The court’s new-found constitutional role was deeply resented in the White House as an unacceptable incursion on the rights of the president, even when it ruled in the president’s favour. Now Marshall was being asked to rule on the constitutional legality of Georgia’s claim to the land of the Cherokee people.

    The Cherokee had tried to declare they were a fully independent state, but the court ruled against that. It did, however, find that they constituted a dependent nation within the United States and that, therefore, the State of Georgia had no jurisdiction over them.

    ‘Trail of Tears’: a dark moment in US history.
    Wolfgang Sauber/Wikimedia Commons, CC BY-SA

    Georgia, however, simply ignored the Supreme Court and in 1838 sent in troops to round up and expel the Cherokee people. Some 13,000 people set off on what became known as the “Trail of Tears” – about one-third of them died of weakness, disease and hunger.

    One American officer commented later that: “I fought through the civil war and have seen men shot to pieces and slaughtered by thousands, but the Cherokee removal was the cruellest I ever knew.”

    Jackson was exultant, taunting Marshall that his judgement “has fell still born” and sneering that Marshall had no means of enforcing it. The Cherokee chief, the half-Scottish John Ross, summed up the situation: “We have a country which others covet. This is the only offence we have ever yet been charged with.”

    The Cherokee had found that, if the president chose to ignore it, the US constitution offered no protection to the innocent. It’s a history lesson Greenlanders, Mexicans and Canadians – and indeed many Americans who may fall foul of this administration and seek recourse to the law – would do well to study.

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

    – ref. Trump’s America is facing an Andrew Jackson moment – and it’s bad news for the constitution – https://theconversation.com/trumps-america-is-facing-an-andrew-jackson-moment-and-its-bad-news-for-the-constitution-253047

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Andy’s career change journey earns a place in national final A University of Aberdeen geology student has reached the final of the UK Career Change Awards after embarking on a degree following service as a Royal Marine Commando and rope access technician on offshore installations.

    Source: University of Aberdeen

    A University of Aberdeen geology student has reached the final of the UK Career Change Awards after embarking on a degree following service as a Royal Marine Commando and rope access technician on offshore installations.
    Andy Rycroft, who lives in Turriff, had written off his chances of succeeding in education with a succession of school reports citing that he was ‘easily distracted, doesn’t listen to instructions, presentation is poor’.
    With no qualifications he enlisted in the Royal Marines and after 32 weeks of the most arduous basic military training in the world, became a Royal Marines Commando serving in Afghanistan and on operations in Canada and the UK.
    The military gave him his first taste of formal training and he gained and NVQ and apprenticeship in engineering.
    But when he left in 2012 he again turned to his practical skills training as a Rope Access Inspection Technician and later worked in the Oil and Gas industry as a project planner.
    It was not until Covid slowed down the pace of the world that he asked what really inspired him and decided to follow his passion for earth and planetary science, signing up to a part-time distance learning course with the University of London Birkbeck.
    During the enrolment process he took a learning differences screening and was diagnosed with dyslexia, making sense of the negative school reports.
    Andy said: “With correct allowances in place and modern technology like recording lectures, Grammarly, reading back aloud and extra reading time in exams, I unlocked the cheat code in my mind.
    “After achieving a distinction in the planetary science certificate, I was eager to complete the degree but decided to come closer to home and accelerate it to full-time learning.
    “So, after 11 years in the Oil industry, I left and the University of Aberdeen accepted me to year two of BSc Geology, where I achieved my proudest grade to date. A 3500 report on the history of earth life with an A1 grade, has given me a huge confidence boost going into my honours years.
    “I am currently in year 3 and getting ready to undertake my mapping project dissertation in the summer of 2025. After I complete my degree in 2026, I will become the first in my family to have a university degree.”
    This remarkable career change has secured him a place as one of only 10 finalists the targetjobs UK Career Change Award Grand Final to be held in London April 25.
    And Andy has plans to put his academic passion for earth sciences to practical use once he has completed his degree.
    “I want to be part of something that makes a tangible impact on people’s lives,” he added. “The current energy crisis in the UK, where some people have to choose between heating and eating, is not something we can sit by and do nothing about. This can only be achieved by investing in wind, battery storage, and electric car charging infrastructure using clean energy sources. I am keen to transition into an industry where I can apply these passions.
    “I’m honoured to be selected for the final out of hundreds of nationwide applications. I had the privilege of meeting representatives from Clifford Chance, the award sponsor and seeing first-hand how seriously they value career changers.
    “Being invited to their stunning HQ in Canary Wharf along with 20 other shortlisted candidates was an incredible and humbling experience. I had the opportunity to pitch my career change journey and present an innovation that breaks down barriers for career changers, showcasing its benefits for both individuals and organisations.”

    MIL OSI United Kingdom –

  • MIL-OSI: QUADIENT SA: Appointment and renewals to Quadient’s Board of directors to be proposed to the Annual General Meeting on June 13, 2025

    Source: GlobeNewswire (MIL-OSI)

    Appointment and renewals to Quadient’s Board of directors to be proposed to the Annual General Meeting on June 13, 2025

    • Delphine Segura Vaylet to be proposed to the Annual General Meeting on June 13, 2025 for appointment as non-executive and independent director
    • Didier Lamouche and Nathalie Wright to be proposed for renewal to the Annual General Meeting on June 13, 2025
    • Martha Bejar and Paula Felstead will not stand for re-election, and resignation of Vincent Mercier with effect at the close of the Board meeting which will be held on 2 June 2025
    • Downsizing of the Board of directors from 10 to 8 members (excluding employee directors)​ as from the next Annual General Meeting, on June 13, 2025

    Paris, 26 March 2025

    Upon recommendation of the Appointments and Remuneration Committee, Quadient’s Board of directors (the “Board”) has approved the list of Directors for appointment and renewal to be put forward at the Company’s Annual General Meeting  that will be held on June 13, 2025.

    At the next Annual General Meeting, shareholders will be asked to approve the appointment of Delphine Segura Vaylet as a new independent Director for a three-year term, until the Annual General Meeting approving the financial statements for the fiscal year ending January 31, 2028.

    Shareholders will also be asked to approve the renewal for additional three-year terms of:

    • Didier Lamouche, with the Board’s intention, if renewed, to subsequently reappoint him as Chairman of the Board, and
    • Nathalie Wright, with the Board’s intention, if renewed, to subsequently appoint her as Chair of the Appointments and Remuneration Committee, replacing Martha Bejar.

    Additionally, it is noted that Martha Bejar and Paula Felstead will not stand for re-election, and that Vincent Mercier will step down from the Board with effect at the close of the meeting to be held on 2 June 2025.

    The Board wishes to express its sincere gratitude for their dedication and significant contributions to the Company — Paula for her thoughtful oversight as a member of the Audit Committee, Martha for her leadership and governance as Chair of the Appointment and Remuneration Committee, and Vincent for his 16 years of committed service across various strategic and leadership roles. Their expertise, integrity, and steadfast support have been instrumental in guiding the Company through key phases of growth and transformation.

    Following these changes, subject to shareholders approval of the resolutions, the Board, which consists of 10 members (excluding employee directors) until June 2, 2025, will be reduced to 8 members (excluding employee directors) after the June 13, 2025 Annual General Meeting. The Board’s composition will continue to align with best governance practices, keeping a highly independent representation, with 75% independent directors, and complying with French legal parity rules, with a balanced structure of 5 men and 3 women, while ensuring a well-balanced mix of experience.

    Delphine Segura Vaylet is 54 years old and a French citizen. She holds a Master’s degree (DEA) in Social Law, European  Law from the University of Paris I Panthéon-Sorbonne. Delphine Segura Vaylet began her career at Groupe Bayard Press from 1993 to 1994 before joining Thales in 1994, where she held various operational Human Resources (HR) leadership roles until 2006. In 2007, she joined STMicroelectronics as HR Director for the Digital Consumer division. In parallel, she led Talent and Organizational Development as well as Training at the Group level for four years. In 2014, she became Group HR Director of Zodiac Aerospace, serving as a member of the Executive Committee until the company’s acquisition by Safran. She then joined Total in 2017 as Vice-President Strategy and HR Policy. Since January 2021, Delphine Segura Vaylet held the position of  Senior Executive Vice President Human Resources at Groupe SEB. She also holds non-executive roles at Soitec and Artelia.

    Didier Lamouche has been the Chairman of the Board of Quadient S.A. since June 28, 2019. He holds a PhD in Semiconductor Technology from École Centrale de Lyon. Didier Lamouche has had a distinguished career, including serving as President and CEO of Idemia until 2018, the world leader in cyber security and digital identity technologies, which he had headed since 2013. From 2005 to 2013, he also held key leadership roles at ST-Microelectronics, ST-Ericsson, and Bull Group, where he successfully turned the company around and repositioned on growth segments. Earlier in his career, Didier Lamouche worked at Philips, IBM Microelectronics, Motorola Semiconductor, and Altis Semiconductor. Didier Lamouche has extensive experience in corporate governance, in both public and private environments, having served as a director of eight public and four private-equity backed companies for nearly 20 years.

    Nathalie Wright has been a member of the Board of Quadient S.A. since September 25, 2017. Nathalie Wright is a graduate in economics from Paris Assas University, IAE, and INSEAD. She began her career at Digital Equipment France and NewBridge Networks France, later holding roles at MCI, Easynet, and AT&T, where she oversaw commercial strategy for Southern Europe and the Middle East. In 2009, she joined Microsoft, serving as director of the Public Sector division and General Manager for Enterprise & Strategic Alliances. She became Vice President of Software France at IBM in 2017, then joined Rexel in 2018 as Chief Digital Officer and member of the executive committee until September 2023, overseeing digital transformation and ESG strategy. Since 2024, Nathalie Wright has focused on non-executive roles at Quadient, Keolis, and Amundi, supporting organizations with transformation challenges.

    ***

    CALENDAR

    • 26 March 2025: FY2024 results release (after close of trading on the Euronext Paris regulated market)
    • 3 June 2025: Q1 2025 sales release (after close of trading on the Euronext Paris regulated market)
    • 13 June 2025: Annual General Meeting

    ***

    About Quadient®

    Quadient is a global automation platform powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing.

    For more information about Quadient, visit https://invest.quadient.com/en-US.

    Contacts

    Attachment

    The MIL Network –

  • MIL-OSI Global: Signal chat group affair: unprecedented security breach will seriously damage US international relations

    Source: The Conversation – UK – By Robert Dover, Professor of Intelligence and National Security & Dean of Faculty, University of Hull

    Plans for an attack against an enemy target are classified in America. But the private views of high-ranking officials about allies, communicated within government, must also count as intelligence to be protected.

    The recent communication of this category of information over the Signal messaging app has been dismissed by the US president, Donald Trump as a mere “glitch”. It is definitely that. But it also raises the prospect that in his first two months of office, key parts of the administration might have inadvertently been leaving sensitive information vulnerable to enemy interception. That would be one of the most serious intelligence breaches in modern history.

    National security advisor, Mike Waltz, has subsequently “taken responsibility” for the episode – but, so far at least, remains in post. Instead, the administration has decided to launch bitter ad hominem attacks against the journalist that revealed this breach of security, the editor-in-chief of The Atlantic, Jeffrey Goldberg.

    Storied national security reporter: The Atlantic’s editor-in-chief Jeffrey Goldberg.
    US Secretary of Defense

    Trump called Goldberg a “total sleazebag”, defense secretary Pete Hegseth referred to him as “deceitful and highly discredited”. Walz called him “the bottom scum of journalists”.

    The recent chat group reported exchange involved the adminstration’s most senior national security officials: Waltz, Hegseth, Vice-President J.D. Vance, secretary of state Marco Rubio and director of national intelligence Tulsi Gabbard, among others.

    As we know now, it also, accidentally, included Goldberg, himself a storied national security reporter before he took up the editorship of the Atlantic. It’s a national security blunder almost without parallel.

    Interestingly, some of the people on this chat were among those who savaged Hilary Clinton’s use of a personal email address during her time as secretary of state. This was controversial, but did not meet the standard for prosecution. Most of her work-related emails were archived into federal records by their recipients on government email. It was poor practice, and regulations were significantly tightened after.

    If an inquiry is set up about this most recent incident, it will be interesting to see whether these messages are treated as federal records. This would be signficant because the messages would need to be handed over to officials to classify and archive as part of the public record. That would certainly clear up whether this was indeed a “glitch” or whether classified information was indeed shared – something the administration still denies.

    Sign up to receive our weekly World Affairs Briefing newsletter from The Conversation UK. Every Thursday we’ll bring you expert analysis of the big stories in international relations.

    For such an elevated group of US government officials to use a consumer messaging app to talk business invites an easy win for enemy intelligence agencies. America’s key intelligence competitors invest billions of dollars in techniques and technologies to break the toughest encryption. For phone-based communications, we know that apps such as NSO Group’s Pegasus can be used to bypass the encryption on phones.

    The Guardian newspaper’s investigative work has highlighted how journalists and activists were targeted by countries using this technology and the interception capability of capable intelligence nations is far stronger. So the standard security induction to officials would cover communications, devices and protocols.

    It is not clear whether the protocols cover the use of emojis. Waltz’s use of a fist, fire and flag emoji is certainly unusual in diplomatic cables that have been aired publicly.

    Even worse, the communication between these officials was prior to a deployment of US military assets against an enemy target, the Houthi rebels in Yemen. This potentially placed the success of the operation and those assets at risk.

    That the Yemenis did not move assets that had been targeted does not conclusively prove that the communications remained safe. It has long been a practice to pick and choose when to risk revealing that communications are being intercepted.

    Zero accountability

    An ordinary intelligence officer who communicated about highly sensitive and classified deployments through a platform with security that is not accredited or controlled by the intelligence community, would certainly face disciplinary action. An officer who accidentally invited a journalist into this chat would be likely to face even stiffer sanctions. Trump seems to have rallied around his officials, however.

    The US has recent form in vigorously pursuing journalists who publish classified materials. The Edward Snowden leaks caused considerable damage to transatlantic intelligence and Snowden was forced to take up residence in Moscow to avoid prosecution.

    The newspapers who published his papers were subject to strong action from the governments in their countries. The publication of Chelsea Manning’s leaked cables – known as Cablegate – by Julian Assange and Wikileaks resulted in a lengthy process to try and prosecute Assange (Manning herself was prosecuted and was sentenced to 35 years in jail, serving seven).

    But instead, Trump has chosen to spearhead a backlash against The Atlantic – the “messenger”. It fits in with Trump’s antipathy towards the mainstream media and his strong preference for some social media outlets. It might also signal a more serious turn towards intolerance to investigative journalism.

    Diplomatic disaster

    What the Signal messages also reveal is a contempt for European allies among Trump’s most senior people. That will be difficult to repair. Describing allies who have lost thousands of soldiers supporting American foreign policy aims as “pathetic” and “freeloaders” will make it very difficult for those governments to underplay the significance of the comments.

    What we have seen in the Signal messages might herald a new era of diplomacy and policy making, by officials who are not afraid to break established patterns. What we can definitely say is that it is radically different to the diplomacy the rest of the west is used to, and it will be nearly impossible to unsee.

    The western allies will be accelerating their plans to be less dependent on the US – and this will be to America’s detriment.

    Robert Dover 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. Signal chat group affair: unprecedented security breach will seriously damage US international relations – https://theconversation.com/signal-chat-group-affair-unprecedented-security-breach-will-seriously-damage-us-international-relations-253090

    MIL OSI – Global Reports –

  • MIL-OSI Global: Spring statement: defence spending boosted as further disability benefit cuts announced – experts react

    Source: The Conversation – UK – By Shampa Roy-Mukherjee, Vice Dean and Professor in Economics, University of East London

    Not even six months on from Labour’s first budget, and the world is a much-changed place. Geopolitical tensions and uncertainties, already high last year, have risen further, and with them the cost of the UK’s debt, while economic growth has stalled. As such, Chancellor Rachel Reeves has confronted an array of unpalatable choices – notably cutting disability benefits – to enable her to increase defence spending and stabilise the public finances. Here’s what our panel of experts made of the statement:

    Falling inflation wasn’t enough to prevent further disability cuts

    Shampa Roy-Mukherjee, Vice Dean and Professor in Economics, University of East London

    The independent Office for Budget Responsibility (OBR) has halved the UK’s 2025 growth forecast to 1%, down from the previously projected 2%. This sluggish growth, coupled with increased borrowing costs, has effectively eliminated the government’s £9.9 billion “fiscal headroom” – its financial buffer – resulting in a £4.1 billion shortfall by 2029-30.

    There was some short-term relief in the latest inflation figures. These showed a slowdown in price rises in February (2.8% against 3% in January). The dip was caused by discounting of items like clothing. But given around half of businesses are considering price rises to combat tax hikes and the national living wage increase coming in April, this relief is likely to be short-lived. The OBR forecasts that inflation will climb back up to 3.2% this year.

    The government had previously set out its controversial plans for £5 billion in welfare cuts. But the OBR rejected the claim that the reforms would save that much, estimating the savings at £3.4 billion, leaving Reeves with a £1.6 billion shortfall. As such, she has had to announce additional welfare reforms.

    These include freezing the universal credit health element until 2030 and reducing it to £50 a week for new claimants. This is aimed at saving an additional £500 million by 2030 – and combined with other planned welfare reforms could affect more than 3 million people. But the standard allowance for universal credit will see an above-inflation increase from 2026-27 and the incomes of those with the most severe lifelong conditions will be protected.

    Civil service administrative budgets are also to be reduced – by 15% by 2029-30. This, along with other efficiency and productivity improvements, will lead to annual savings of £3.5 billion. These cuts will focus on areas like human resources, policy advice, and office management, rather than frontline services.

    Reeves resorted to tricks and ‘efficiency savings’

    Steve Schifferes, Honorary Research Fellow, City St George’s, University of London

    Reeves has announced a series of tweaks to her spending plans to address the economic situation which has meant that she is in danger of breaking her self-imposed fiscal rules. The chancellor was at pains to say that these rules are “non-negotiable”.

    But these are unlikely to tackle the deeper problem – that in the short term she cannot rely on economic growth to square the circle of Labour’s three contradictory election pledges. These were more spending on public services, lower taxes and strict fiscal rules.

    The UK, in fact, is particularly vulnerable to the disruption of global trade that is likely to result from US president Donald Trump’s tariff wars. And the productivity gains from her long-term infrastructure plans will take years – if not a decade – to translate into higher growth.

    Like many chancellors, Reeves has resorted to various tricks – such as counting money moved to the defence budget to build tanks and aircraft as capital spending (and therefore exempt from the borrowing rules). And she has called for “efficiency savings” in the civil service and government departments that are unlikely to be realised.

    But the biggest savings are coming from deeper than expected cuts in disability payments and other welfare payments, reducing the income of more than 3 million people. This is upsetting many Labour MPs. Her big sweetener – £2 billion for social housing next year – is actually less than that already allocated by the previous Conservative government.

    Crucially, the further savings likely to be demanded in the spending review (announced on June 11) from unprotected departments including local government, justice and environment, will certainly look a lot like a return to austerity.

    In the end – and possibly as soon as the autumn budget – the chancellor will have to accept that as well as spending cuts, she will have to consider tax increases and possibly even a revision of the fiscal rules.

    Otherwise, she will remain at the mercy of the markets and the forecasters. Any long-term strategy will be strangled by the need to continually adjust policy to meet the fiscal “headroom” target she has set which leaves little room for manoeuvre. This requires an implausibly accurate prediction of the state of the economy in five years’ time by the OBR.

    The Civil Service could see 10,000 jobs axed.
    pxl.store/Shutterstock

    Commitment to financial stability is actually increasing uncertainty

    Linda Yueh, Fellow and Adjunct Professor of Economics, University of Oxford

    The chancellor’s self-imposed fiscal rules are intended to provide stability – one of the foundations of economic growth. One of those rules, which Rachel Reeves has said she will not bend, is that government day-to-day spending must be balanced by tax receipts by the end of this parliament.

    This is intended to provide transparency on fiscal policy. And Reeves clearly understands the importance of how international financial markets react to the UK’s level of spending – and its public debt (currently about 100% of GDP).

    But the world is not a stable place. And with the OBR halving its 2025 GDP growth forecast from 2% to 1%, unplanned cuts to public spending followed.

    Consistency in fiscal policy helps households and business to plan for the future. But during times of heightened uncertainty with global tariffs looming, GDP is likely to remain volatile. This makes not changing the government’s fiscal stance particularly challenging.

    It is also challenging for chancellor personally, as she would prefer to have one “fiscal event” a year, rather than two. But the OBR is obliged to provide economic forecasts twice a year, and when it slashes expected growth, she is duty bound to respond.

    Somewhat ironically then, the government’s stability rule is having the unintended consequence of adding policy uncertainty to an already uncertain overall economic environment – and more frequent changes to fiscal policy.

    ‘Let’s shake on increasing defence spending, bigly.’
    Joshua Sukoff/Shutterstock

    Modest defence spending boost will struggle to reverse years of decline

    Jamie Gaskarth, Professor of Foreign Policy and International Relations, the Open University

    In two months, the UK defence sector has been turned upside down – primarily by Donald Trump. His administration has made implied threats to invade a NATO ally (Denmark), challenged the sovereignty of another (Canada) and pulled support for Ukraine, openly siding with Russia in ceasefire negotiations. There is a real chance the US will draw down its security presence in Europe.

    If European countries are to meet the full cost of their own security, this will have to mean a dramatic increase in defence budgets. So far, the UK has redistributed aid money to help fund an increase in defence spending to 2.5% of GDP (from 2.3%) by 2027, with the ambition to raise it to 3% in the next parliament.

    It has also offered an extra £2 billion to underwrite defence exports. But this is small beer.

    As with many areas of public spending, dramatic cuts to the defence budget during the years of austerity (22% in real terms) have meant delays to procurement, crumbling estates and a chronic lack of investment.

    This will take a substantial uplift to redress. Recent increases under the Conservatives were eaten up by capital costs and inflation.

    And while ideas such as the £400 million ringfenced to support innovation in AI and new technology are welcome, these are tiny amounts in the grand scheme of things. The UK is not going to be a “defence industrial superpower” any time soon if budget announcements are this small, and increases so modest.

    Promise to disabled people in tatters

    William E. Donald, Associate Professor of Sustainable Careers and Human Resource Management, University of Southampton

    In November, social security and disability minister Sir Stephen Timms spoke passionately at the Shaw Trust Disability Power 100 awards, vowing to undo past injustices and declaring: “We now want to put that right.” As a disabled person, I cheered. That promise now lies in ruins.

    Despite government claims there will be no return to austerity, sick and disabled people face a real-terms cut to their incomes and the criteria for claiming personal independence payment (Pip) will become stricter than ever. This isn’t just a policy to save £5 billion, it’s cruelty and a devastating attack on disabled people.

    Pip isn’t means-tested and is paid regardless of whether you work. It exists because, according to disability charity Scope, disabled households need an additional £1,010 a month to achieve the same standard of living as others. Stripping this support away while NHS mental health waiting lists grow, energy and food prices rise, and the disability pay gap sits at 12.7% won’t push people into work. It will push them into crisis.

    Last year, Labour promised to break barriers for disabled people. Instead, they are building new ones. These cuts come at the expense of society’s most vulnerable. The consequences will be catastrophic.

    Building a future?
    Ian Dyball/Shutterstock

    Social housing boost – but homes could be improved now

    Nicky Shaw, Senior Lecturer in Operations Management, Leeds University Business School, and Simon Williams, Associate Faculty, Leeds University Business School

    The chancellor’s £2 billion investment in new homes will certainly help to increase the availability of affordable social housing. Everyone agrees that access to decent, affordable homes is important, but the quality and maintenance of existing social houses remains critical. Replacing cladding, for example, is stubbornly challenging.

    But beyond just building more social housing, our research has explored key measures of tenant satisfaction. The potential ways for digital tools such as AI to improve the efficiency of tasks like repairs and maintenance in future are numerous.

    But social housing’s tenant demographic includes many people who are more vulnerable, some of whom prefer not to – or simply cannot – engage with digital services. This means that sustaining face-to-face contact with tenants is critical. Investing in tenants’ experience now could really deliver tangible benefits for some of Britain’s most vulnerable people.

    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. Spring statement: defence spending boosted as further disability benefit cuts announced – experts react – https://theconversation.com/spring-statement-defence-spending-boosted-as-further-disability-benefit-cuts-announced-experts-react-253149

    MIL OSI – Global Reports –

  • MIL-OSI: Quadient SA: FY 2024 results: Solid 1st year delivery of “Elevate to 2030” strategic plan, with Digital Solution achieving €267m in revenue and 61% EBITDA growth to €47m

    Source: GlobeNewswire (MIL-OSI)

    Quadient FY 2024 results:
     Solid 1st year delivery of “Elevate to 2030” strategic plan, with Digital Solution achieving €267m in revenue and 61% EBITDA growth to €47m

    Key highlights

    • FY 2024 financial targets achieved
    • Two operating profitability milestones reached:
    • Digital EBITDA margin at 17.5%, up 5.7pts yoy, reflecting strong profitability improvement
    • All three solutions are EBITDA positive
    • Consolidated sales of €1,093 million, up +2.8% on a reported basis, including the contribution of the latest acquisitions
    • FY 2024 subscription-related revenue up +10.2% in Digital and up +11.5% in Lockers
    • FY 2024 subscription-related revenue of €777m, representing 71% of total revenue, up +€30m yoy,
      vs. +      €90m 2026 target
    • FY 2024 Group current EBIT of €146 million, up +2.2% organically
    • Proposed dividend of €0.70 per share, up by €0.05 for the fourth consecutive year
    • FY 2025 outlook: acceleration both in organic revenue growth and in current EBIT organic growth vs. 2024

    Paris, 26 March 2025

    Quadient S.A. (Euronext Paris: QDT), an Intelligent automation platform powering secure and sustainable business connections, today announces its 2024 fourth-quarter consolidated sales and full-year results (period ended on 31 January 2025). The full year 2024 results were approved by the Board of Directors during a meeting held on 25 March 2025.

    Geoffrey Godet, Chief Executive Officer of Quadient S.A., stated: “We have delivered a solid first year of our Elevate to 2030 strategic plan.

    Our Digital Automation platform has reached the record level of c.€270 million in revenue thanks to both the addition of 2,600+ new customers and the contribution from the increased usage and upsell from our existing 16,500 customer base. This strong revenue increase has been delivered together with a significant improvement in profitability with EBITDA rising by 61% to reach €47 million. We are now in a good position to exceed the 20% EBITDA margin ambition set for 2026.

    2024 also saw the highest level of Digital cross-sold deals into our Mail customer base while at the same time our Mail business continues to outpace competition. In Lockers, investments made over the past couple of years are paying off, contributing to a strong performance in H2 with double digit growth in revenue thanks to increased usage of the locker base across all regions. In addition, Lockers have reached EBITDA breakeven over the full year and profitability will further improve as we continue to increase the size of our network, grow its usage and take advantage of the recent addition of Package Concierge in the US residential sector.

    At Company level, this solid performance translates into a €30 million increase in annual recurring revenue, well on track to deliver the €90 million increase targeted by 2026. Based on this solid start to the strategic plan, we are confident in our ability to continue building a €1bn recurring revenue platform by 2030, generating €250 million current EBIT. Therefore, we are proposing to increase our dividend for the fourth consecutive year in a row, to €0.70.

    While macro uncertainties have recently been growing, we are expecting an acceleration of organic growth in revenue and current EBIT in 2025 against 2024 levels.”

    Comments on FY 2024 performance

    Group sales came in at €1,093 million in FY 2024, a +2.8% increase on a reported basis, and +0.4% organic growth compared to FY 2023, in line with Quadient’s expectations. The reported growth includes a positive currency impact of €2 million and a positive scope effect of €24 million, which is related to the acquisitions of Daylight (September 2023), Frama (February 2024) and Package Concierge (December 2024).

    In the fourth quarter of 2024, reported revenue growth stood at +4.1% and organic revenue growth was broadly flat, at -0.2%, compared to Q4 2023.

    Subscription-related revenue reached €777 million in FY 2024, growing +1.6% organically, and representing 71% of total sales. This represents a €30 million increase year-on-year (compared to the +€90 million target by 2026), progressing toward the €1 billion subscription-related revenue target by 2030. Performance in the fourth quarter of 2024 was steady, up 2.1% organically against Q4 2023, driven by a double-digit organic increase in Digital and in Lockers. Non-recurring revenue declined by 2.4% organically in FY 2024, including a 5.1% decline in Q4 2024, essentially due to a high comparison basis in Mail hardware sales.

    By geography, North America (58% of revenue) continued to outperform other regions with a +2.8% organic growth achieved in FY 2024.

    Consolidated sales and EBITDA by Solution

    FY 2024 consolidated sales

    In € million FY 2024 FY 2023 Change Organic change
    Digital 267 245 +9.1% +7.7%
    Mail 732 729 +0.4% (2.5)%
    Lockers 94 88 +5.7% +4.3%
    Group total 1,093 1,062 +2.8% +0.4%

     

    EBITDA and EBITDA margin

      FY 2024 FY 2023
    In € million EBITDA EBITDA margin EBITDA EBITDA margin
    Digital 47 17.5% 29 11.8%
    Mail 200 27.4% 218 29.9%
    Lockers 1 0.6% (3) (3.0)%
    Group total 247 22.6% 244 23.0%
     

    Digital

    In FY 2024, revenue from Digital reached €267 million, up 7.7% organically (+10.1% in Q4 2024 vs. Q4 2023) and up 9.1% on a reported basis (including the contribution from Daylight) compared to FY 2023.

    This solid performance was driven by a strong 10.2% organic growth in subscription-related revenue in FY 2024 (+10.5% in Q4 2024 vs. Q4 2023), including a good contribution from North America and continued positive commercial trends across the platform with further solid cross-selling and up-selling. In FY 2024, subscription-related revenue was representing 82% of Digital total sales, a further increase compared to 80% in FY 2023.

    At the end of FY 2024, annual recurring revenue (ARR), which is a forward-looking indicator of future subscription-related revenue, reached €232 million, up from €206 million at the end of FY 2023, representing a 12.7% organic growth.

    EBITDA for Digital was €47 million in FY 2024, up +61% year-on-year. EBITDA margin was at 17.5%, a strong improvement of 5.7 points compared to FY 2023. In H2 2024, EBITDA margin further improved, reaching 19.1%, after 15.7% in H1 2024. This positive evolution in profitability reflects the combination of subscription-related revenue growth and platform maturity. The Digital solution is well on track to reach its target of EBITDA margin greater than 20% in 2026.

    As part of its customer acquisition strategy, Digital continues to demonstrate strong commercial momentum. Over
    2,600 new customers were added     in FY 2024 thanks in particular to robust cross-selling with Mail, especially in North America. Digital experienced a dynamic fourth quarter, with several key deals secured in the US. Additionally, a new partnership was established with Avaloq to deliver Customer Communications Management capabilities to the financial services industry.

    As part of the customer expansion process, the focus continues to be on further increasing up-selling, notably in financial automation process. Several platform innovations have been made, to bring added value to customers, including the ramp-up and extension of Repay for direct supplier invoice payments in the US and Canada, and new electronic invoice formats (UBL, CII, Factur-X) to align with upcoming European e-invoicing regulation.

    In Quadient’s core geographies, the addressable demand for its Digital automation platform is set to grow from
    c.€6 billion in 2023 to c.€9 billion in 2027, representing a +10% CAGR, creating substantial growth opportunities in both communication and financial automation.

    To capture this growth, Quadient is strongly positioned, leveraging on:

    • a sound base of highly predictable business, with over 16,500 customers, 82% subscription-based revenue,
      and a churn rate well below 5%,
    • a highly recognized platform in financial & communication automation, and 84.5% of Saas customers,
      across three regions,
    • a fully scalable and modulable platform, for small to large customers, driving new client acquisition (+2,600 in FY 2024) and record cross-sell of Digital solutions into Quadient Mail customers and increased upsell opportunities among existing customers,
    • an efficient go-to-market organisation that driving a 34% year-on-year increase in bookings in Q4 2024 and +12.7% growth of ARR at the end of the year.

    Mail

    Mail revenue reached €732 million in FY 2024, down 2.5% on an organic basis (-4.6% in Q4 2024 vs. Q4 2023). The reported growth stood at +0.4%, including the contribution of Frama.

    Hardware sales recorded a minor -1.7% organic decline in FY 2024, despite a 7.3% drop registered in Q4 2024, mainly reflecting a high comparison basis related to deals signed in H2 2023.

    Subscription-related revenue (68% of Mail sales) recorded a 2.9% organic decline in FY 2024.

    EBITDA for Mail was €200 million for FY 2024. EBITDA margin reached 27.4%, down 2.5 points compared to FY 2023. Mail EBITDA margin was impacted by the dilutive effect of Frama acquisition, including integration costs. Frama’s performance is due to improve significantly from 2025 onward, with positive current EBIT already reached in FY 2024 and payback of the acquisition expected in FY 2025.

    Thanks to its strong focus on customer acquisition, Quadient’s Mail business continues to outperform the market. In Q4 2024, commercial performance remained resilient in North America, particularly in highly regulated industries where secure mail communications are key.

    As part of the customer expansion focus, outlook remains strong driven by a high customer satisfaction rate of 95.7% and robust cross-selling performance, especially in the US where a record-breaking performance in placement of Digital solutions was recorded in Q4 2024. Mail business also benefited from the positive impact of the ongoing US mailing systems decertification, though this impact is expected to conclude in Q1 2025. Lastly, Quadient aims at upgrading Frama’s installed base and initiating some cross-selling to promote its Digital offer to Frama’s customers.

    At the end of January 2025, already 42.4% of Quadient installed base has been upgraded with its newest technology.

    Lockers

    Lockers revenue reached €94 million in FY 2024, a +4.3% increase on an organic basis, with strong momentum in the latter part of the year (+8.0% in Q4 2024 vs. Q4 2023, after a strong Q3 2024, up +14.3% year-on-year) and a +5.7% increase on a reported basis compared to FY 2023, including a marginal contribution from Package Concierge.

    Subscription-related revenue was up 11.5% organically in FY 2024 (+19.6% in Q4 2024 vs. Q4 2023), benefiting from:

    • the continued strong volumes ramp up in the British and the French open networks;
    • the sustained strong momentum in the US, driven by higher monetization of usage fees;
    • a resilient performance in Japan, despite an unfavorable e-commerce environment.

    Overall, subscription-related revenue stood at 64% of total revenue in FY 2024, up from 61% in FY 2023.

    Non-recurring revenue (license & hardware sales and professional services) were down 6.8% organically in FY 2024. Hardware sales were still impacted by slower new installations in North America.

    Quadient’s global locker installed base reached c.25,700 units at the end of FY 2024, including c. 3,000 units from Package Concierge, vs. c.20,200 units at the end of FY 2023. This is reflecting an acceleration in the pace of installation of new lockers, notably in the UK, fueled by the partnerships signed by Quadient to host parcel lockers in new suitable locations.

    EBITDA for Lockers was above breakeven, at €1 million in FY 2024. EBITDA margin stood at 0.6%, up by 3.6 points compared to FY 2023. This significant profitability improvement, illustrated by a 6.7% EBITDA margin in H2 2024, was driven by growing recurring revenue and increased usage. Additionally, the revised commercial agreement with Yamato for the Japanese installed base was implemented at the beginning of H2 2023.

    As part of the customer acquisition focus, Quadient is accelerating the pace of installation for new lockers in its open networks in Europe, mostly in France and the UK, with installed base up 145% year-on-year. This is supported by the additional deals signed for premium locations (including Morrisons Daily Stores and ScotRail…). Additionally, the trend for new installations in North America has turned positive in Q4, where market share leadership position in Residences and Universities remains robust.

    As part of the customer expansion strategy, volumes from both pick-up and drop-off in European open networks saw a significant increase, growing sevenfold between Q4 2023 and Q4 2024. The momentum in North America for the locker network, particularly across the multifamily sector and higher education campuses was strong in Q4 2024. In Japan, macroeconomic conditions have impacted parcel volumes, but new initiatives, such as the new partnership with Japan Post, are aimed at driving volume growth and increasing adoption.

    REVIEW OF 2024 FULL-YEAR RESULTS

    Simplified P&L

    In € million FY 2024 FY 2023 Change
    Sales 1,093 1,062 +2.8%
    Gross profit 818 788 +3.7%
    Gross margin 74.8% 74.2%  
    EBITDA 247 244 +1.2%
    EBITDA margin 22.6% 23.0%  
    Current EBIT 146 147 (0.5)%
    Current EBIT margin 13.4% 13.8%  
    Optimization expenses and other operating income & expenses (23) (15) +58.0%
    EBIT 123 132 (7.0)%
    Financial income/(expense) (39) (31) +24.8%
    Income before tax 84 101 (16.8)%
    Share of results of associated companies 1 (0) n/a
    Income taxes (17) (17) +2.8%
    Net income of continued operations 68 84 (19.4)%
    Net income from discontinued operations (0) (14) (98.7)%
    Net attributable income 66 69 (3.4)%
    Earnings per share 1.94 2.02  
    Diluted earnings per share 1.94 2.01  
     

    Gross margin stood at 74.8% in FY 2024 slightly up compared to FY 2023, due to lower cost of sales.

    EBITDA(1) for the Group reached €247 million in FY 2024, up €3 million compared to FY 2023. EBITDA grew by 3.0% organically, driven by strong growth of 80% in Digital and improved profitability in Lockers, which more than compensated for the softer EBITDA performance in Mail. The EBITDA margin reached 22.6% in FY 2024. It was almost stable compared to FY 2023: despite the impact of the change in revenue mix and the dilutive effect of Frama acquisition, the Group EBITDA margin was supported by significant profitability gains in Digital and Lockers.

    Depreciation and amortization stood at €101 million in FY 2024, compared to €98 million in FY 2023. This slightly higher depreciation mainly reflects the increase in Lockers’ asset base.

    Current operating income (current EBIT) reached €146 million in FY 2024 compared to €147 million in FY 2023, up 2.2% on an organic basis. Current EBIT margin stood at 13.4% of sales in FY 2024 compared to 13.8% in FY 2023.

    Optimization costs and other operating expenses stood at €23 million in FY 2024, versus €15 million in FY 2023. This increase mainly relates to the write-off of an IT project, additional office optimization and Frama restructuring costs.

    Consequently, EBIT reached €123 million in FY 2024, versus €132 million recorded in FY 2023.

    Net attributable income

    Net cost of debt was up from €29 million in FY 2023 to €39 million in FY 2024, impacted by higher interest rates. The currency gains & losses and other financial items was broadly flat in FY 2024, compared to a loss of €2 in FY 2023. Overall, net financial result was a loss of €39 million in FY 2024 compared to a loss of €31 million in FY 2023.

    Income tax expense was stable year-on-year at €17 million.

    Net income from discontinued operations of the Mail Italian subsidiary was null in FY 2024, compared to a €14 million loss in FY 2023. This loss included exceptional charges related to the sale process for this subsidiary, which was sold to a local mail distribution company in October 2024.

    Net attributable income after minority interests amounted to €66 million in FY 2024 compared to €69 million in FY 2023.

    Earnings per share(2) stood at €1.94 in FY 2024 compared to €2.02 in FY 2023. The fully diluted earnings per share(2) was €1.94 in FY 2024 compared to €2.01 in FY 2023.

    Cash flow generation

    The change in working capital was a net cash inflow of €9 million in FY 2024 compared to a net cash outflow of €6 million in FY 2023, mostly reflecting the positive impact from timing on prepaid expenses and customers deposits.

    The leasing portfolio and other financing services stood at €623 million as of 31 January 2025, compared to €598 million as of 31 January 2024, up on an organic basis (i.e. excluding currency impact of €18 million) for the first time in several years thanks to good hardware placements in Mail. While generating future subscription-related revenue, this increase in lease receivables resulting from the good performance in the placement of new equipment translates into a cash outflow of
    €7 million in FY 2024. At the end of FY 2024, the default rate of the leasing portfolio stood at around 1.1% compared to c.1.3% at the end of FY 2023.

    Interest and taxes paid increased to €67 million in FY 2024 versus the amount of €55 million paid in FY 2023. The difference was mostly explained by higher interest rates in FY 2024.

    Capital expenditure reached €108 million in FY 2024, up €7 million compared to FY 2023, mostly due to UK locker open network deployment. Capex for Digital reached €24 million in FY 2024, slightly up compared to €22 million in FY 2023 and was mainly focused on R&D and platform development. Capex for Mail remained at fairly high level of €51 million
    (vs. €53 million in FY 2023), due to continued high placement of machines related to the US decertification, which is expected to end in Q1 2025. Capex for Lockers increased from €26 million to €33 million to support the ramp-up of the deployment of the open network in the UK. The sale of Frama real estate in Switzerland generated €6 million in cash inflows in FY 2024.

    All in all, cash flow after capital expenditure (free cash flow) reached €66 million in FY 2024, compared to €64 million in FY 2023.

    Leverage and liquidity position

    Net debt stood at €741 million as of 31 January 2025, a slight increase against €709 million as of 31 January 2024. In FY 2024, Quadient successfully raised approximately €325 million in new facilities, including the following transactions in H2 2024:

    • in October 2024, the Company secured EBRD financing, including a €25 million Schuldschein;
    • in December 2024, the Company secured a USD 50 million bank loan;
    • in January 2025, Quadient further strengthened its financial position with the issuance of a USD 100 million USPP.

    These new facilities enabled Quadient to repay post-closing its €260 million bond due in February 2025 and settle the repayment of Schuldschein loans for €29 million, also due in early 2025. As a result of these transactions, the Company’s average debt maturity has been extended to four years as of the end of February 2025, compared to three years at the end of FY 2023.

    The leverage ratio (net debt/EBITDA) remained broadly stable at 3.0x(3) as of 31 January 2025 compared to 2.9x(3) as of 31 January 2024. Excluding leasing, Quadient leverage ratio remained stable at 1.7x(3) as of 31 January 2025, despite the acquisitions of Frama and Package Concierge in 2024, as well as the implementation of a share buyback programs.

    As of 31 January 2025, the Group had a strong liquidity position of €667 million, split between €367 million in cash and a €300 million undrawn credit line, maturing in 2029.

    Shareholders’ equity stood at €1,113 million as of 31 January 2025 compared to €1,069 million as of 31 January 2024. The gearing ratio(4) stood at 66.6% as of 31 January 2025.

    SHAREHOLDER’ RETURN

    Proposed dividend for FY 2024 stands at €0.70 per share, representing an 8% increase against FY 2023, and a payout ratio of 36.1% of net income, higher than Quadient’s minimum 20% pay-out ratio of net income as per the Group’s dividend policy. This represents a €0.05 year-on-year increase, for the fourth consecutive year. The dividend is subject to approval by the Annual General Meeting, scheduled for 13 June 2025, and will be paid in cash in one instalment on 6 August 2025.

    In addition, Quadient’s announced in September 2024 the launch of a share buyback program for a total consideration of up to €30 million. To date, €10 million worth of shares have been repurchased, with the program set to be executed over an
    18-month(5) period. This operation demonstrates Quadient’s confidence in the value creation potential of its “Elevate to 2030” strategic plan, its ability to reach its FY 2026 leverage ratio target(6) and is in line with the capital allocation policy of the Company, while improving shareholders’ return.

    OUTLOOK

    The evolving dynamics within Quadient’s business portfolio, characterized by strong growth in Digital and Lockers revenue alongside a moderate decline in Mail revenue, will naturally drive a year-on-year acceleration in the Company’s total revenue growth.

    As Digital and Lockers continue to expand their share of Quadient’s revenue and profit, while simultaneously improving their profitability, this shift is expected to contribute to a higher growth in current EBIT

    As a result, Quadient targets an acceleration in organic revenue growth and in current EBIT organic growth in 2025 compared to 2024.

    Quadient also confirms its 3-year guidance for the 2024-2026 period of minimum 1.5% organic revenue CAGR and minimum 3% organic current EBIT CAGR.

    Q4 2024 BUSINESS HIGHLIGHTS

    Avaloq and Quadient Partner to Elevate Client Communications for Financial Services
    On 3 December 2024, Quadient and Avaloq announced today their partnership to offer unrivaled customer communications management (CCM) capabilities for the financial services industry. Avaloq has selected Quadient Inspire as its standard CCM solution, seamlessly integrating it into the Avaloq platform.

    Quadient Launches SimplyMail in Europe to Help Small Businesses Leverage Digital Solutions to Enhance Efficiency in Mail Operations
    On 11 December 2024, Quadient announced the launch in Europe of SimplyMail, a solution designed to address the growing needs for smaller businesses to automate and optimize their mail operations with ease.

    Quadient Named a Worldwide Automated Document Generation and CCM Leader by IDC
    On 12 December 2024, Quadient announced it has been named a Leader in the IDC MarketScape: Worldwide Automated Document Generation and Customer Communication Management 2024 Vendor Assessment.

    Quadient Recognized in Two IDC MarketScape Reports for Accounts Receivable Automation Applications
    On 16 December 2024, announced it has been named a Leader in the IDC MarketScape: Worldwide Accounts Receivable Automation Applications for Small and Midmarket 2024 Vendor Assessment. Additionally, Quadient has been recognized for the first time as a Major Player in the IDC MarketScape: Worldwide Accounts Receivable Automation Applications for the Enterprise 2024 Vendor Assessment.

    Quadient Surpasses 25,000 Global Locker Installations with US Package Concierge Acquisition, Setting Sights on Exceeding €100M of Locker Revenue in 2025
    On 18 December 2024, Quadient announced the acquisition of US-based parcel management solutions provider Package Concierge®, exceeding the 25,000-unit mark in its global installed base. Package Concierge provides innovative digital locker technology that addresses the growing challenges of package management in residential, commercial, retail and university campuses across the United States.

    Quadient strengthens its financial position with a USD50 million bank loan from Bank of America
    On 20 December 2024, announced a USD50 million bank loan from Bank of America. This new credit facility, which comes with a 3-year maturity at a variable rate, strengthens Quadient’s financial position ahead of debt maturities due in 2025.

    Report by Leading Analyst Firm Shows Quadient Recorded the Fastest Growth in 2023 Among CCM Market Leaders
    On 10 January 2025, Quadient announced that a newly released report by market research and consulting firm IDC shows Quadient rapidly closing the gap on the top position. Quadient’s 13.7% year-on-year revenue growth in 2023 has accelerated from its 11% growth in 2022. This is also the fastest growth among the major Customer Communications Management (CCM) vendors globally, outperforming the overall market growth.

    Quadient Secures New c.$1.6 Million Contract to Enhance US Government Agency’s Mail Automation Capacity
    On 14 January 2025, Quadient announced that it has been selected by a US government agency to modernize its mail automation infrastructure in a contract valued at c.$1.6 million. This follows a previous announcement in October 2024, where Quadient was awarded a contract worth nearly $1 million for a similar modernization project with another federal agency.

    Leading Human Resources Technology Company Selects Quadient for Accessibility Compliance in Customer Communications
    On 16 January 2025, Quadient announced that a leading US provider of integrated benefits, payroll, and human resources cloud solutions has selected customer communications management (CCM) platform Quadient Inspire to ensure accessibility compliance for its US federal agency client.

    Quadient Partners with ScotRail to Introduce Parcel Lockers at Stations Across Scotland
    On 21 January 2025, Quadient announced a partnership with ScotRail to deploy Parcel Pending by Quadient automated lockers across Scotland’s rail network. ScotRail, Scotland’s national rail operator, is enhancing its passenger experience and operational efficiency with the installation of parcel lockers in its stations.

    Quadient strengthens its financial position through a USD100 million US Private Placement from MetLife
    On 22 January 2025, Quadient announced that it has signed a new USD100 million US Private Placement (USPP) with MetLife Investment Management (“MIM”), reinforcing its financial position. This new USPP of USD 100 million senior notes has a
    7-year average maturity and comes with an additional shelf facility allowing the issue of senior notes for a maximum aggregate principal amount of USD50 million.

    Quadient Teams Up with Buzz Bingo to Bring Convenient Parcel Lockers to Bingo Clubs Across the UK
    On 28 January 2025, Quadient announced a partnership with Buzz Bingo to deploy Parcel Pending by Quadient automated lockers in 35 of its 81 bingo clubs across the UK, with plans for further installations in the future. This collaboration enhances parcel collection, delivery, and return convenience while improving the customer experience at Buzz Bingo locations.

    Leading US Law Firm Chooses Quadient in a Deal Over $1M to Streamline Mailing, Shipping, and Accounting Processes
    On 30 January 2025, Quadient announced a new contract with one of the largest injury law firms in the US, transitioning the firm from its long-standing provider to Quadient. Under the new agreement, worth over 1 million dollars, the firm is rolling out nearly 100 Quadient iX-Series mailing systems at offices across the country, all seamlessly integrated with Quadient’s cloud-based S.M.A.R.T. accounting and shipping software.

    Quadient Reports Strong Year-End Locker Usage Growth in Multifamily and Higher Education Campuses in North America
    On 31 January 2025, Quadient announced strong year-end momentum in the adoption and usage of its Parcel Pending by Quadient locker network across multifamily and higher education campuses in North America.

    POST-CLOSING EVENTS

    Morrisons Partners with Quadient for Convenient Parcel Delivery at its Morrisons Daily Stores
    On 18 February 2025, Quadient announced a new partnership with Morrisons. The partnership will see Parcel Pending by Quadient parcel lockers installed at 230 Morrisons Daily stores by spring 2025.

    Quadient Enables New Shipping Service with Japan Post on its Open Locker Network, Driving Convenience and Increased Parcel Volume
    On 3 March 2025, Quadient announced an expanded partnership between Japan Post and Packcity Japan, a joint venture between Quadient and Yamato Transport. Thanks to the extended partnership, consumers will not only receive Japan Post deliveries at Packcity Japan’s nationwide open network of automated parcel lockers, but they will also now be able to ship parcels from the lockers, called PUDO stations. Consumers using Japan Post’s Yu-Pack parcel service use a mobile app to ship from a PUDO station, eliminating the need to wait at delivery counters or manually handling shipping slips.

    Quadient Maintains Leader Position on Aspire Leaderboard for Customer Communications and Interaction Experience Software
    On 13 March 2025, Quadient announced it has maintained its leadership position on the Aspire Leaderboard. Produced by independent advisory firm Aspire CCS, the Aspire Leaderboard highlights and compares vendors in the customer communications management (CCM) and customer experience management software space. It is updated in real-time as vendors release enhancements and adjust strategies.

    To know more about Quadient’s news flow, previous press releases are available on our website at the following address: https://invest.quadient.com/en/newsroom.

    CONFERENCE CALL & WEBCAST

    Quadient will host a conference call and webcast today at 6:00 pm Paris time (5:00 pm London time).

    To join the webcast, click on the following link: Webcast.

    To join the conference call, please use one of the following phone numbers:

    ▪ France: +33 (0) 1 70 37 71 66.
    ▪ United States: +1 786 697 3501.
    ▪ United Kingdom (standard international): +44 (0) 33 0551 0200.

    Password: Quadient

    A replay of the webcast will also be available on Quadient’s Investor Relations website for 12 months.


     

    Calendar

    • 3 June 2025: Q1 2025 sales release (after close of trading on the Euronext Paris regulated market)
    • 13 June 2025: Annual General Meeting

    About Quadient®

    Quadient is a global automation platform provider powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing.

    For more information about Quadient, visit https://invest.quadient.com/en/.

    Contacts

    APPENDIX

    Digital: New name for Intelligent Communication Automation

    Mail: New name for Mail-Related Solutions

    Lockers: New name for Parcel Locker Solutions

    FY 2024 and Q4 2024 consolidated sales

    FY 2024 consolidated sales by geography

    In € million 2024 2023 Change Organic
    change
    North America 632 607 +4.0% +2.8%
    Main European countries(a) 369 354 +4.5% (2.0)%
    International(b) 92 101 (9.7)% (5.4)%
    Group total 1,093 1,062 +2.8% +0.4%
    1. Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom
    2. International includes the activities of Digital, Mail and Lockers outside of North America and the Main European countries

    Q4 2024 consolidated sales by Solution

    In € million Q4 2024 Q4 2023 Change Organic change
    Digital 73 65 +11.5% +10.1%
    Mail 196 196 (0.3)% (4.6)%
    Lockers 27 22 +20.2% +8.0%
    Group total 295 284 +4.1% (0.2)%
     

    Q4 2024 consolidated sales by geography

    In € million Q4 2024 Q4 2023 Change Organic
    change
    North America 171 160 +7.0% +2.5%
    Main European countries(a) 100 97 +3.3% (2.9)%
    International(b) 24 27 (10.7)% (6.9)%
    Group total 295 284 +4.1% (0.2)%
    1. Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom
    2. International includes the activities of Digital, Mail and Lockers outside of North America and the Main European countries

    Financial statements – Full-year 2024

    Consolidated income statement

    In € million FY 2024
    (period ended
    on 31 January 2025)    		 FY 2023
    (period ended
    on 31 January 2024)
    Sales 1,093 1,062
    Cost of sales (275) (274)
    Gross margin 818 788
    R&D expenses (63) (63)
    Sales and marketing expenses (287) (275)
    Administrative and general expenses (187) (176)
    Service and support expenses (116) (109)
    Employee profit-sharing, share-based payments and other expenses (10) (7)
    M&A and strategic projects expenses (8) (11)
    Current operating income 146 147
    Optimization expenses and other operating income & expenses (23) (15)
    Operating income 123 132
    Financial income/(expense) (39) (31)
    Income before taxes 84 101
    Income taxes (17) (17)
    Share of results of associated companies 1 (0)
    Net income from continued operations 68 84
    Net income of discontinued operations (0) (14)
    Net income 67 70
    Of which:

    • Minority interests
    		 1 1
    • Net attributable income
    		 66 69

    Simplified consolidated balance sheet

    Assets
    In € million    		 FY 2024
    (period ended
    on 31 January 2025)    		 FY 2023
    (period ended
    on 31 January 2024)
    Goodwill 1,131 1,082
    Intangible fixed assets 119 121
    Tangible fixed assets 170 156
    Other non-current financial assets 65 65
    Other non-current receivables 2 2
    Leasing receivables 623 598
    Deferred tax assets 38 17
    Inventories 75 67
    Receivables 240 228
    Other current assets 79 84
    Cash and cash equivalents 367 118
    Current financial instruments 1 2
    Assets held for sale 0 9
    TOTAL ASSETS 2,910 2,550
    Liabilities
    In € million    		 FY 2024
    (period ended
    on 31 January 2025)    		 FY 2023
    (period ended
    on 31 January 2024)
    Shareholders’ equity 1,113 1,069
    Non-current provisions 12 12
    Non-current financial debt 722 715
    Current financial debt 347 66
    Lease obligations 38 46
    Other non-current liabilities 3 2
    Deferred tax liabilities 101 104
    Financial instruments 5 5
    Trade payables 104 79
    Deferred income 223 212
    Other current liabilities 242 225
    Liabilities held for sale 0 15
    TOTAL LIABILITIES 2,910 2,550

    Simplified cash flow statement

     

    In €millions

    		 FY 2024
    (period ended
    on 31 January 2025)    		 FY 2023
    (period ended
    on 31 January 2024)
    EBITDA 247 244
    Other elements (15) (19)
    Cash flow before net cost of debt and income tax 233 225
    Change in the working capital requirement 9 (6)
    Net change in leasing receivables (7) (0)
    Cash flow from operating activities 235 219
    Interest and tax paid (67) (55)
    Net cash flow from operating activities 168 165
    Capital expenditure (108) (101)
    Disposal of assets 6 0
    Net cash flow after investing activities 66 64
    Impact of changes in scope (37) (5)
    Net cash flow after acquisitions and divestments 29 59
    Dividends paid (22) (21)
    Change in debt and others 219 (39)
    Net cash flow after financing activities 226 (1)
    Cumulative translation adjustments on cash (6) (2)
    Net cash from discontinued operations (1) (9)
    Change in net cash position 219 (11)

    ([1]) EBITDA = current operating income + provisions for depreciation of tangible and intangible fixed assets.
    ([2]) For the FY 2024, the average compounded number of shares is 34,114,060. Diluted number of shares is 34,486,288.
    ([3]) Including IFRS 16
    ([4]) Net debt / shareholder’s equity
    ([5]) Subject to the renewal of the share buyback authorizations at the 2025 AGM
    ([6]) FY 2026 leverage ratio excluding leasing target of 1.5x

    Attachment

    The MIL Network –

  • MIL-OSI: Bitcoinese Launches Blockchain Research Lab to Accelerate Innovation and Global Collaboration

    Source: GlobeNewswire (MIL-OSI)

    Hamburg, Germany, March 26, 2025 (GLOBE NEWSWIRE) — Bitcoinese has officially launched its new Blockchain Research Lab, a dedicated initiative focused on advancing blockchain infrastructure, smart contract security, cross-chain technology, and applied AI systems. This move positions Bitcoinese at the forefront of blockchain research, aiming to foster innovation through global academic and industry partnerships.

    Establishing a Research-Driven Future for Blockchain Development

    The newly formed Bitcoinese Blockchain Research Lab will serve as a central hub for exploring next-generation blockchain solutions, with a strong emphasis on interdisciplinary collaboration. By uniting researchers, developers, and technologists, the lab will produce whitepapers, prototypes, and open-source frameworks designed to solve complex challenges in digital infrastructure.

    Key areas of focus include:

    Scalable Blockchain Architecture: Researching high-throughput, low-latency consensus mechanisms and energy-efficient systems.

    Smart Contract Security: Developing automated audit tools and formal verification methods for decentralized applications.

    Cross-Chain Protocols: Designing interoperability frameworks for seamless asset transfers between blockchains.

    AI Integration: Investigating the convergence of artificial intelligence and decentralized ledgers for predictive analytics and autonomous finance.

    The lab will operate with a global, open-access model, allowing select external contributors to participate in research programs and collaborate on technical publications.

    Partnerships with Universities and Industry Experts

    To ensure real-world impact, Bitcoinese is forming strategic partnerships with universities, technology institutes, and blockchain research foundations across Europe, Asia, and North America. These collaborations will involve joint publications, co-hosted conferences, and talent development programs aimed at fostering the next generation of blockchain engineers and scientists.

    Bitcoinese will also offer research grants and fellowships to emerging scholars and developers working on critical blockchain advancements. The lab will regularly publish peer-reviewed studies and technical documentation for the public and industry stakeholders.

    Accelerating Open-Source Innovation

    A core goal of the Blockchain Research Lab is to support the open-source blockchain ecosystem. All major findings and tools developed by the lab will be published under open-source licenses, enabling adoption and contribution from global communities.

    Initial projects under development include:

    A modular testing environment for smart contract stress testing.

    A decentralized benchmarking tool for cross-chain bridges.

    An open AI oracle system for autonomous smart contract execution.

    These initiatives are expected to provide essential infrastructure for developers working on DeFi, enterprise blockchain, supply chain, and digital identity solutions.

    Bitcoinese’s Commitment to Long-Term Technological Advancement

    By launching the Blockchain Research Lab, Bitcoinese reinforces its commitment to long-term technological innovation and global cooperation. The company views research as a foundational pillar of its ecosystem and believes that investment in knowledge, transparency, and experimentation is critical to driving the next wave of blockchain adoption.

    Bitcoinese plans to host its first Blockchain Research Forum in the coming year, inviting scholars, developers, and policymakers to engage in discussions around security, regulation, scalability, and ethics in decentralized technology.

    This research-led initiative underscores Bitcoinese’s vision of building a blockchain future grounded in evidence-based development and collaborative progress.

    The MIL Network –

  • MIL-OSI Global: Spring statement: defence spending boosted as further disability benefit cuts announced

    Source: The Conversation – UK – By Shampa Roy-Mukherjee, Vice Dean and Professor in Economics, University of East London

    Not even six months on from Labour’s first budget, and the world is a much-changed place. Geopolitical tensions and uncertainties, already high last year, have risen further, and with them the cost of the UK’s debt, while economic growth has stalled. As such, Chancellor Rachel Reeves has confronted an array of unpalatable choices – notably cutting disability benefits – to enable her to increase defence spending and stabilise the public finances. Here’s what our panel of experts made of the statement:

    Falling inflation wasn’t enough to prevent further disability cuts

    Shampa Roy-Mukherjee, Vice Dean and Professor in Economics, University of East London

    The independent Office for Budget Responsibility (OBR) has halved the UK’s 2025 growth forecast to 1%, down from the previously projected 2%. This sluggish growth, coupled with increased borrowing costs, has effectively eliminated the government’s £9.9 billion “fiscal headroom” – its financial buffer – resulting in a £4.1 billion shortfall by 2029-30.

    There was some short-term relief in the latest inflation figures. These showed a slowdown in price rises in February (2.8% against 3% in January). The dip was caused by discounting of items like clothing. But given around half of businesses are considering price rises to combat tax hikes and the national living wage increase coming in April, this relief is likely to be short-lived. The OBR forecasts that inflation will climb back up to 3.2% this year.

    The government had previously set out its controversial plans for £5 billion in welfare cuts. But the OBR rejected the claim that the reforms would save that much, estimating the savings at £3.4 billion, leaving Reeves with a £1.6 billion shortfall. As such, she has had to announce additional welfare reforms.

    These include freezing the universal credit health element until 2030 and reducing it to £50 a week for new claimants. This is aimed at saving an additional £500 million by 2030 – and combined with other planned welfare reforms could affect more than 3 million people. But the standard allowance for universal credit will see an above-inflation increase from 2026-27 and the incomes of those with the most severe lifelong conditions will be protected.

    Civil service administrative budgets are also to be reduced – by 15% by 2029-30. This, along with other efficiency and productivity improvements, will lead to annual savings of £3.5 billion. These cuts will focus on areas like human resources, policy advice, and office management, rather than frontline services.

    The Civil Service could see 10,000 jobs axed.
    pxl.store/Shutterstock

    Reeves resorted to tricks and ‘efficiency savings’

    Steve Schifferes, Honorary Research Fellow, City St George’s, University of London

    Reeves has announced a series of tweaks to her spending plans to address the economic situation which has meant that she is in danger of breaking her self-imposed fiscal rules. The chancellor was at pains to say that these rules are “non-negotiable”.

    But these are unlikely to tackle the deeper problem – that in the short term she cannot rely on economic growth to square the circle of Labour’s three contradictory election pledges. These were more spending on public services, lower taxes and strict fiscal rules.

    The UK, in fact, is particularly vulnerable to the disruption of global trade that is likely to result from US president Donald Trump’s tariff wars. And the productivity gains from her long-term infrastructure plans will take years – if not a decade – to translate into higher growth.

    Like many chancellors, Reeves has resorted to various tricks – such as counting money moved to the defence budget to build tanks and aircraft as capital spending (and therefore exempt from the borrowing rules). And she has called for “efficiency savings” in the civil service and government departments that are unlikely to be realised.

    But the biggest savings are coming from deeper than expected cuts in disability payments and other welfare payments, reducing the income of more than 3 million people. This is upsetting many Labour MPs. Her big sweetener – £2 billion for social housing next year – is actually less than that already allocated by the previous Conservative government.

    Crucially, the further savings likely to be demanded in the spending review (announced on June 11) from unprotected departments including local government, justice and environment, will certainly look a lot like a return to austerity.

    In the end – and possibly as soon as the autumn budget – the chancellor will have to accept that as well as spending cuts, she will have to consider tax increases and possibly even a revision of the fiscal rules.

    Otherwise, she will remain at the mercy of the markets and the forecasters. Any long-term strategy will be strangled by the need to continually adjust policy to meet the fiscal “headroom” target she has set which leaves little room for manoeuvre. This requires an implausibly accurate prediction of the state of the economy in five years’ time by the OBR.

    More reaction to follow shortly.

    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. Spring statement: defence spending boosted as further disability benefit cuts announced – https://theconversation.com/spring-statement-defence-spending-boosted-as-further-disability-benefit-cuts-announced-253149

    MIL OSI – Global Reports –

  • MIL-OSI Global: When Canadian snowbirds don’t flock south, the costs are more than financial

    Source: The Conversation – Canada – By Valorie A. Crooks, Professor, Department of Geography, Simon Fraser University

    Every winter, hundreds of thousands of older Canadians spend the winter in the United States. But in recent weeks, we’ve seen many Canadian snowbirds shifting their attention to other matters.

    First, stories started to emerge from those who said they would no longer participate in this seasonal migration because of political events in the U.S. Another related concern was the weakened Canadian dollar. This trend has prompted some to consider selling their winter properties in the U.S.

    More recently, attention has shifted to the potential for changed border rules to lessen snowbirds’ access to the U.S. for long stays. Snowbirds are concerned about administrative and procedural requirements that may ultimately make cross-border travel less convenient.

    During the COVID-19 pandemic, some Canadian snowbirds experienced challenges crossing into the U.S. for the winter or returning to Canada. Closures of borders to non-essential travel did not dissuade some from planning to winter in the U.S.

    Drawing on research in snowbird communities, we found out that affordability and ease of movement are two important enablers of long-stay seasonal travel.

    Because of this, it’s not surprising that we’re hearing from snowbirds again in light of recent developments.

    CBC News reports on Québec snowbirds reaction to the Donald Trump administration’s new measures for travellers to the U.S.

    Economic and political disruptions

    While COVID-era travel disruptions didn’t stop some snowbirds from going south for the winter, the current economic and political disruptions are another story. Florida is a popular destination for Canadian snowbirds. In fact, a 2023 survey named eight of the 10 best American destination communities as being in Florida.

    If Canadian snowbirds are talking about cancelling travel plans and selling properties, people in Florida should be paying attention.

    Instead, in early March, Florida Gov. Ron DeSantis downplayed what it would mean for Canadians to avoid travel to the state. Citing a recent tourism industry report, he noted that only 3.3 million of the 142.9 million visitors to Florida in 2024 were from Canada.

    DeSantis went on to say “that’s not much of a boycott, in my book.” But 91.5 per cent of Florida’s annual visitors were from the U.S. This means that the 2.3 per cent of visitors who were Canadian were actually a substantial portion of the states’s international visitors.

    DeSantis’s recent comments were also not in line with concerns raised during the COVID-19 pandemic that signalled substantial negative economic impacts for the state if Canadian snowbirds did not arrive for the winter.

    Community members

    Aside from these economic impacts, something we’ve learned through our years of research with Canadians who winter in the U.S. is that many become vital members of destination communities. From participating in public health outreach programs to volunteering at local hospitals, our research has shown that many embrace opportunities to be active in the places they reside for the winter.

    Any drop in the numbers of seasonal travellers going to U.S. destinations will have social costs for communities beyond the quantifiable economic losses.

    Many popular U.S. destination communities for snowbirds have health systems that are designed to expand and retract with dramatically different seasonal populations. Our research has observed this most closely in Yuma, Ariz., where entire areas of the main local hospital are closed in the summer and staffed seasonally in the winter.

    Additionally, some of the seasonal nursing staff who arrive for the winter are from Canada. Any retreat from these destinations by Canadian snowbirds may have significant implications for health systems and allied sectors. This can ultimately impact the quality of care they can provide to a more limited local patient base.

    Intangible impacts

    While the economic impacts of the seeming loss of long-stay older Canadians in these communities are important to consider, there will be other — less measurable but no less important — impacts. Just as the long friendship between the U.S. and Canada is now being tested, blended snowbird communities of older North Americans are at risk of diminishing.

    Business owners in U.S. destinations spoke up about losses when fewer Canadian snowbirds went south during the COVID-19 pandemic. Some Canadian business sectors and communities discovered opportunities emerging from these shifts in consumer’ movements.

    As snowbirds debate whether to navigate new border complexities and return to the U.S. next winter, we must be attentive to the stories behind the numbers to understand the true impacts of their decisions. And as comments made by DeSantis and other politicians have made clear, Canadian snowbirds are now faced with new economic and emotional considerations.

    Valorie A. receives funding from the Canadian Institutes of Health Research, Social Science and Humanities Research Council of Canada, BC Women’s Health Research Institute and MITACS.

    Jeremy Snyder receives funding from the Social Sciences and Humanities Research Council of Canada and the Canadian Institutes of Health Research.

    – ref. When Canadian snowbirds don’t flock south, the costs are more than financial – https://theconversation.com/when-canadian-snowbirds-dont-flock-south-the-costs-are-more-than-financial-252125

    MIL OSI – Global Reports –

  • MIL-OSI Global: More than just an animal: Losing a pet deserves more attention and compassion

    Source: The Conversation – Canada – By Renata Roma, Postdoctoral fellow, Center of Behavioural Sciences and Justice Studies/Pawsitive Connections Lab, University of Saskatchewan

    Losing a pet can be an isolating experience and perceptions of judgment may exacerbate the pain of loss. (Shutterstock)

    When my dog passed away four years ago, coping with the loss was challenging. I know I am not alone. People turn to their pets when they need comfort and a non-judgmental presence. However, pets have a short life span, and losing a companion animal is a common experience.

    Research shows that losing a pet can be as devastating as losing a family member, yet the grief over a companion animal is often overlooked in society. As a result, losing a pet can be an isolating experience.

    Perceptions of judgment may exacerbate the pain of loss, affect mental health and lead to social isolation. Some may think: “It’s just an animal.” However, words like these dismiss the pain and make an already difficult experience even lonelier.

    As a researcher who has studied the human-animal bond for more than a decade, and as someone who has shared her life with pets, I understand that while having a pet is deeply fulfilling, the grieving process can be profoundly difficult.

    Having support makes a huge difference in these moments. Rituals, comforting words, the space to talk about what happened, and primarily, validation — these things help us process loss. But the reality is that when someone loses a pet, finding that support is harder.

    Offering non-judgmental support and developing inclusive strategies, such as pet bereavement leave, can be valuable initiatives to help. Raising awareness of ways to provide effective and compassionate support to those grieving a pet can help us challenge the idea that the loss of a companion animal is less significant than losing a beloved human.

    People turn to their pets when they need comfort and a non-judgmental presence. However, pets have a short life span, and losing a companion animal is a common experience.
    (Shutterstock)

    Navigating pet loss

    Several studies show that living with a pet can have a positive impact on people’s physical, psychological and social health. These bonds run deep, and 95 per cent of Canadians consider their companion animals family.

    The journey through pet loss is unique for each individual, but it usually involves complex feelings like relief and guilt, besides physical and intellectual symptoms like aches, headache and rumination.

    One of the most important barriers to finding support is the lack of social recognition and validation regarding pet grief. People often feel judged when they express their feelings of grief over a pet. These perceptions of judgment exacerbate the pain and increase social isolation. This, in turn, can increase the risk of mental health issues, particularly among those with a history of childhood trauma.

    Factors shaping pet grief

    Several factors can shape how people grieve, including the way people lose their pets. Even when a pet dies by natural causes or old age, people may experience intense feelings of loss. Situations involving euthanasia can lead to uncertainty regarding the best moment to do it and self-blame. When a pet dies, people may feel guilty and left with a feeling that they failed to care for the pet.

    Attachment styles also play a role. This refers to the type of bond between people and their pets and the feelings involved in this relationship. For instance, perceiving pets as good friends leads to less intense grief than seeing them as children. If the person lived alone and the pet was their only company, it may be more challenging, too.

    At the same time, having social support provides a sense of belonging. Those who have room to voice their feelings and share their pain tend to navigate the stages of grief better. A more compassionate and pet-inclusive approach can be valuable in the pet grief journey. This type of support can help to prevent depression, stress and social isolation.

    One of the most important barriers to finding support is the lack of social recognition and validation regarding pet grief.
    (Shutterstock)

    Support in workplaces

    Regardless of differences in pet attachment and how a person lost their pet, initiatives to increase social support during these difficult experiences can have a significant impact on people’s ability to cope.

    Take workplaces, for instance. People are often expected to show up and function as if nothing happened, carrying their grief in silence. However, some companies have adjusted their policies to a more pet-inclusive approach, and the result is promising.

    Companies that offer more pet-inclusive policies, including pet bereavement leave, can help reduce employee stress while also increasing job satisfaction, building a sense of connectedness and leading to higher retention rates.

    Considering that among younger people, there is a preference for pets over kids, this type of policy can not only offers a concrete demonstration of empathy but could also attract some employees and increase productivity. By providing the necessary time to heal, the company can have more loyal and productive employees.

    As pets increasingly become integral to our emotional lives, acknowledging the relevance of this relationship is fundamental. This includes providing support for people facing the difficult experience of losing a pet after a life of sharing daily moments with them.

    Each person’s grief is personal and should be respected, without comparison or judgment. We cannot take away each other’s grief but we can stand beside one another in it. That, in itself, makes all the difference.

    Validation and emotional support from family and friends and pet-inclusive policies such as pet bereavement leave can also make a real difference. They send a powerful message: We care about your pain. You are not alone.

    Renata Roma 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. More than just an animal: Losing a pet deserves more attention and compassion – https://theconversation.com/more-than-just-an-animal-losing-a-pet-deserves-more-attention-and-compassion-251889

    MIL OSI – Global Reports –

  • MIL-OSI Global: Trump’s push for AI deregulation could put financial markets at risk

    Source: The Conversation – Canada – By Sana Ramzan, Assistant Professor in Business, University Canada West

    As Canada moves toward stronger AI regulation with the proposed Artificial Intelligence and Data Act (AIDA), its southern neighbour appears to be taking the opposite approach.

    AIDA, part of Bill C-27, aims to establish a regulatory framework to improve AI transparency, accountability and oversight in Canada, although some experts have argued it doesn’t go far enough.

    Meanwhile, United States President Donald Trump’s is pushing for AI deregulation. In January, Trump signed an executive order aimed at eliminating any perceived regulatory barriers to “American AI innovation.” The executive order replaced former president Joe Biden’s prior executive order on AI.



    Read more:
    How the US threw out any concerns about AI safety within days of Donald Trump coming to office

    Notably, the U.S. was also one of two countries — along with the U.K. — that didn’t sign a global declaration in February to ensure AI is “open, inclusive, transparent, ethical, safe, secure and trustworthy.”

    Eliminating AI safeguards leaves financial institutions vulnerable. This vulnerability can increase uncertainty and, in a worst-case scenario, increase the risk of systemic collapse.



    Read more:
    The Paris summit marks a tipping point on AI’s safety and sustainability

    The power of AI in financial markets

    AI’s potential in financial markets is undeniable. It can improve operational efficiency, perform real-time risk assessments, generate higher income and forecast predictive economic change.

    My research has found that AI-driven machine learning models not only outperform conventional approaches in identifying financial statement fraud, but also in detecting abnormalities quickly and effectively. In other words, AI can catch signs of financial mismanagement before they spiral into a disaster.

    In another study, my co-researcher and I found that AI models like artificial neural networks and classification and regression trees can predict financial distress with remarkable accuracy.

    Artificial neural networks are brain-inspired algorithms. Similar to how our brain sends messages through neurons to perform actions, these neural networks process information through layers of interconnected “artificial neurons,” learning patterns from data to make predictions.

    Similarly, classification and regression trees are decision-making models that divide data into branches based on important features to identify outcomes.

    Our artificial neural networks models predicted financial distress among Toronto Stock Exchange-listed companies with a staggering 98 per cent accuracy. This suggests suggests AI’s immense potential in providing early warning signals that could help avert financial downturns before they start.

    However, while AI can simplify manual processes and lower financial risks, it can also introduce vulnerabilities that, if left unchecked, could pose significant threats to economic stability.

    The risks of deregulation

    Trump’s push for deregulation could result in Wall Street and other major financial institutions gaining significant power over AI-driven decision-making tools with little to no oversight.

    When profit-driven AI models operate without the appropriate ethical boundaries, the consequences could be severe. Unchecked algorithms, especially in credit evaluation and trading, could worsen economic inequality and generate systematic financial risks that traditional regulatory frameworks cannot detect.

    Algorithms trained on biased or incomplete data may reinforce discriminatory lending practices. In lending, for instance, biased AI algorithms can deny loans to marginalized groups, widening wealth and inequality gaps.

    In addition, AI-powered trading bots, which are capable of executing rapid transactions, could trigger flash crashes in seconds, disrupting financial markets before regulators have time to respond. The flash crash of 2010 is a prime example where high-frequency trading algorithms aggressively reacted to market signals causing the Dow Jones Industrial Average to drop by 998.5 points in a matter of minutes.

    Furthermore, unregulated AI-driven risk models might overlook economic warning signals, resulting in substantial errors in monetary control and fiscal policy.

    Striking a balance between innovation and safety depends on the ability for regulators and policymakers to reduce AI hazards. While considering financial crisis of 2008, many risk models — earlier forms of AI — were wrong to anticipate a national housing market crash, which led regulators and financial institutions astray and exacerbated the crisis.

    A blueprint for financial stability

    My research underscores the importance of integrating machine learning methods within strong regulatory systems to improve financial oversight, fraud detection and prevention.

    Durable and reasonable regulatory frameworks are required to turn AI from a potential disruptor into a stabilizing force. By implementing policies that prioritize transparency and accountability, policymakers can maximize the advantages of AI while lowering the risks associated with it.

    A federally regulated AI oversight body in the U.S. could serve as an arbitrator, just like Canada’s Digital Charter Implementation Act of 2022 proposes the establishment of an AI and Data Commissioner. Operating with checks and balances inherent to democratic structures would ensure fairness in financial algorithms and stop biased lending policies and concealed market manipulation.

    Financial institutions would be required to open the “black box” of AI-driven alternatives by mandating transparency through explainable AI standards — guidelines that are aimed at making AI systems’ outputs more understandable and transparent to humans.

    Machine learning’s predictive capabilities could help regulators identify financial crises in real-time using early warning signs — similar to the model developed by my co-researcher and me in our study.

    However, this vision doesn’t end at national borders. Globally, the International Monetary Fund and the Financial Stability Board could establish AI ethical standards to curb cross-border financial misconduct.

    Crisis prevention or catalyst?

    Will AI still be the key to foresee and stop the next economic crisis, or will the lack of regulatory oversight cause a financial disaster? As financial institutions continue adopt AI-driven models, the absence of strong regulatory guardrails raises pressing concerns.

    Without proper safeguards in place, AI is not just a tool for economic prediction — it could become an unpredictable force capable of accelerating the next financial crisis.

    The stakes are high. Policymakers must act swiftly to regulate the increasing impact of AI before deregulation opens the path for an economic disaster.

    Without decisive action, the rapid adoption of AI in finance could outpace regulatory efforts, leaving economies vulnerable to unforeseen risks and potentially setting the stage for another global financial crisis.

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

    – ref. Trump’s push for AI deregulation could put financial markets at risk – https://theconversation.com/trumps-push-for-ai-deregulation-could-put-financial-markets-at-risk-251208

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: expert reaction to study on first genetically modified pig-to-human liver transplantation

    Source: United Kingdom – Executive Government & Departments

    A study published in Nature looks at a genetically modified pig-to-human liver xenotransplantation.

    Prof Peter Friend, Professor of Transplantation, University of Oxford, said:

    “This is an important study because it advances the field of xenotransplantation from non-human primates to human, enabling assessment of transgenic xenografts in the context of human immunological and physiological systems.

    “This is a very elegant surgical technique which allows the insertion of a (relatively small) xeno-liver with limited disruption to the anatomy of the existing liver (i.e. it is potentially feasible in a clinical setting as a temporary bridging technique).

    “The genetic modifications are similar (although not identical) to those used in the recently reported heart and kidney clinical xeno-transplants, and also the xeno-liver cross-circulation studies performed at the University of Pennsylvania.

    “The presence of the brain-dead donor’s native liver means that we cannot extrapolate the extent to which this xenograft would have supported a patient in liver failure. However, this study does demonstrate that these genetic modifications allow the liver to avoid hyperacute rejection and (significantly) that the thrombocytopenia associated with liver xenotransplantation is self-limiting, with the platelet count recovering within 7 days. The mechanism of this phenomenon is not fully understood.

    “Although the maintenance of normal coagulation parameters (e.g. INR) is reassuring, because the clotting factors produced by the xenograft were not measured directly, the data do not definitively prove that this is a function of the xenograft rather than the native liver.”

     

     

    Comments provided by our friends at SMC Spain:

    Rafael Matesanz, creator and founder of the National Transplant Organisation (Spain), said:

    “A frequent approach in the development of xenotransplants of different organs, before moving on to the clinical phase, is to perform them in patients in brain death but with haemodynamic stability, so that the evolution of the organ and the impact on the deceased person’s organism can be assessed at least in the short term, but with circulation maintained.

    “At least three kidney transplants have been performed in the United States since 2021 – one with up to 61 days of follow-up in brain-dead patients – and two heart transplants, which served to accumulate a number of useful lessons. In both modalities, they preceded the first clinical experiences in living people, which so far have resulted in two heart transplants (both deceased) and four kidney transplants, two of which have survived after several months of evolution.

    “The team at the Xi’an Military Hospital in China has had extensive experience in experimental transplantation of all types of organs from pigs to monkeys for more than a decade. This is the world’s first case of a transplant of a genetically modified pig liver into a brain-dead human. The ultimate goal of the experiment was not to achieve a standard liver transplant, but to serve as a ‘bridge organ’ in cases of acute liver failure, while awaiting a human organ for a definitive transplant. The experience lasted 10 days and the porcine organ remained in good condition, with acceptable basic metabolic function and no signs of acute rejection, indicating that the procedure was successful for its intended purpose and could be used in vivo in the near future.

    “In short, this is an important experiment, which opens up a different path to what has been tried so far in both vital organs (heart) and non-vital organs (kidney), such as the temporary replacement of the diseased liver until a human liver can be obtained for the definitive transplant’.”

    Iván Fernández Vega, Professor of Pathological Anatomy at the University of Oviedo (Spain), Scientific Director of the Principality of Asturias Biobank (BioPA) and Coordinator of the Organoid hub of the ISCIII Biomodels and Biobanks Platform, said:

    “I found the work very relevant, but we have to be cautious. The study represents a milestone in the history of liver xenotransplantation, describing for the first time a transplantation of a genetically modified porcine liver into a human being (in this case, a brain-dead human).The quality of the work is very high, both in terms of scientific rigour and the exhaustive clinical, immunological, histological and haemodynamic characterisation of the procedure. Sophisticated genetic modifications have been applied to the graft to prevent hyperacute rejection, one of the most critical complications in preclinical models of xenotransplantation.

    “The clinical implications are highly relevant, as optimising this approach could expand the pool of available organs and save lives in liver emergencies. This work complements and extends the existing evidence on previous pig-to-human heart and kidney xenotransplantation. It provides several relevant novelties:

    • It is the first study to demonstrate that a genetically modified porcine liver can survive and exert basic metabolic functions (albumin and bile production) in the human body.
    • It shows that there was no major coagulation dysfunction, in contrast to what was observed in other models, such as the first human cardiac xenotransplantation, where microthrombi and severe disorders were detected.
    • He points out the need to assess possible myocardial damage in early postoperative phases, given the early elevation of AST and cardiac enzymes, which can be confused with liver damage.
    • The use of xenograft as a bridging therapy is proposed, especially in patients with acute liver failure awaiting a human graft, although not as a definitive solution, as bile and albumin production was limited for long-term support.

    “However, the study has relevant limitations:

    • A major limitation of the study is that it is a single case (n=1), which precludes drawing generalisable conclusions or establishing robust patterns of clinical and immunological response. Although this is a pioneering advance, studies with a larger sample and in living recipients will be necessary to confirm the safety, efficacy and reproducibility of the procedure.
    • Limited duration of follow-up (10 days), by decision of the recipient’s family, which prevents assessment of medium- and long-term viability of the graft. Therefore, it does not add information in relation to acute and chronic rejection of xenotransplantation.
    • Only basic liver functions (albumin synthesis and bile secretion) were assessed, with no data on other complex liver functions such as drug metabolism, detoxification or immune function.
    • The heterotopic helper transplantation procedure would not allow resection of the original liver, which invalidates it as a strategy for example in patients with hepatocarcinoma awaiting transplantation.”

    ‘Gene-modified pig-to-human liver xenotransplantation’ by Wang et al. was published in Nature at 16:00 UK time on Wednesday 26th March.

    DOI: 10.1038/s41586-025-08799-1

    Declared interests

    Iván Fernández Vega “He declares that he has no conflicts of interest.”

    Prof Peter Friend: “Please note I have an association with OrganOx Ltd, a spin-out company from the University of Oxford: I am a co-founder and Chief Medical Officer. OrganOx manufactures a liver perfusion device for use in liver transplantation (the OrganOx metra); this is being adapted for potential use in liver support using extra-corporeal liver perfusion. OrganOx is now working in collaboration with eGenesis, the University of Pennsylvania and the University of Oxford to test the use of genetically-modified pigs as a source of organs for extra-corporeal liver support.”

    For all other experts, no reply to our request for DOIs was received.

    MIL OSI United Kingdom –

  • MIL-OSI: JMU announces Dr. James C. Schmidt as seventh president

    Source: GlobeNewswire (MIL-OSI)

    HARRISONBURG, Va., March 26, 2025 (GLOBE NEWSWIRE) — James Madison University has announced that Dr. James C. Schmidt will serve as the university’s next president. Earlier today the JMU Board of Visitors voted to affirm his appointment.  

    Schmidt has over 30 years of experience working in higher education and currently serves as the chancellor of the University of Wisconsin-Eau Claire; he has been in this role since 2013. 

    During his tenure, UW-Eau Claire has been ranked among the top 10 regional public universities in the Midwest by U.S. News & World Report. It was named the top masters-level university for excellence in undergraduate research by the Council for Undergraduate Research in 2016 and is currently the only master’s-level university in Wisconsin among the top 20 nationally for student participation in study abroad. UW-Eau Claire has produced two Rhodes scholars since 2005 and leads master’s level institutions in Wisconsin and Minnesota in the number of Fulbright students.  

    In addition to UW-Eau Claire’s national recognition, Schmidt has been a stellar fundraiser and visionary for elevating academic excellence. He recently brought in one of the largest gifts in Wisconsin history at $70 million to help construct an indoor athletics facility and event center. Even more relatable to JMU, they are set to complete a 330,000-square-foot science and health sciences building through an innovative public-private funding partnership. 
     
    Previous tenures included service as vice president for university advancement at Winona State University in Winona, Minnesota, and vice president for student affairs at Riverland Community College in Austin, Minnesota. He holds a doctorate in educational policy and administration from the University of Minnesota, a master’s degree in business administration from the University of St. Thomas in Saint Paul, Minnesota, and a bachelor’s degree in political science from Winona State University. 

    Schmidt’s appointment will begin July 1, 2025.  

    “I am honored to serve as the next president of James Madison University,” said Schmidt. “Over three decades in public higher education has prepared me to lead this great institution into the future, and I am committed to leading JMU’s vision and strategic direction, enhancing academic excellence and research, and ensuring an exceptional student experience,” added Schmidt. 

    Former JMU President Jonathan Alger announced in March 2024 that he would be stepping down as president and accepted the presidency at American University in Washington, D.C. Charlie King became JMU’s interim president on July 1, 2024. 

    “It is an honor to welcome Jim into the JMU community,” said King, the current interim president of JMU. “I look forward to our partnership in the coming months as we will collectively work to ensure this transition continues to be seamless. I take great pride in this institution and will do everything I can to support the board and our new president during this transition.”  

    Kay Coles James, chair of the search committee, said Schmidt’s strategic vision, leadership and passion for higher education were among the factors that led to his selection as the next JMU president.  

    “Jim Schmidt’s commitment to JMU’s values, bold vision-casting, student-centered outlook, and his community-building experience will be invaluable assets to lead JMU boldly into the future,” said James. 

    Rector of JMU’s Board of Visitors Suzanne Obenshain said, “We are incredibly grateful for Charlie King’s leadership during this transitional moment – particularly his never-ending commitment to JMU. Charlie has been a steady leader, and his legacy is firmly rooted throughout our campus.”  
      
    “It is an exciting time in the university’s history to welcome  Jim into the JMU community. I am confident his leadership and skillset will continue JMU’s positive momentum into the future with an entrepreneurial mindset that will encourage innovation, creativity, collaboration and big thinking,” added Obenshain. 

    Schmidt has been active in academic and athletics circles at the national level. 

    Ted Mitchell, president of the American Council on Education, a major coordinating body for the nation’s colleges and universities, said, “Higher education shapes the world for the better and helps to build America. James Madison University’s story is one of insistent progress, and this great institution will continue to prepare enlightened and productive citizens who will be well-equipped to make lasting, positive impacts on our country and beyond under Jim Schmidt’s steadfast watch.” 

    American Association of State Colleges and Universities President and CEO Charles L. Welch said, “James Madison University has long been a leader in driving transformative civic engagement and preparing its student body to be active and responsible participants in a representative democracy. Jim Schmidt is the perfect person to take that ethos one step further and ensure future Dukes are actively engaged on the local level and ready to impact our world for the common good.” 
     
    The search committee thoroughly reviewed and rated candidates for consideration and was assisted by the search firm Russell Reynolds Associates, ensuring a comprehensive and fair assessment of each candidate’s qualifications and alignment with JMU’s needs and aspirations. 

    Additional information is available here. 

    The MIL Network –