The individual words in the acronym Pogo—“Philippine,” “offshore,” “gaming,” and “operators”—by themselves are neutral and do not mean anything offensive or illegal. Taken together, however, Pogo evokes the concepts of foreign syndicates, human trafficking, workplaces with oppressive conditions, money laundering, illegal immigration, and the complicity of some Filipino politicians. Pogos are a national menace on so many fronts. One can look at it from a governance and transparency point of view, human rights, economics, and national security. Indeed, the Pogo phenomenon which first rose during the previous administration, in the guise of stimulating economic activity, has done us great harm and no good. Alice Guo, who has been unmasked as Chinese national Guo Hua Ping, has become the personification of the failures of governance that made the rise of Pogos possible in our country. The proximity of Pogos to military bases and reports of alleged People’s Liberation Army uniforms in Pogo compounds raise concerns about espionage, amplifying fears of national security breaches that could compromise the country’s defense capabilities. This presents a grave threat to peace and order as well as the national security of the Philippines. And if we think that the rift between the Philippines and China is only taking place in the West Philippine Sea, we would be wrong. It also shows in the shaping of public opinion through China’s malign influence operations. These actions aim to manipulate how people think, weaken democratic institutions, and challenge the country’s sovereignty, creating a serious threat to the Philippines’ stability. The move to ban Pogos is a crucial step toward helping the Philippines exit the Financial Action Task Force’s grey list. Earlier this year, President Marcos instructed relevant government agencies to address the country’s “grey listing.” The government has set a deadline to exit the grey list by the start of 2024 after missing the original target of January 2023. In the legislature, Sen. Risa Hontiveros, in her published statement during the Senate investigation on online gaming industries, revealed that aside from crimes committed in the country, Pogos might have been used by China for propaganda and “espionage” operations in the Philippines. Sen. Win Gatchalian said the Pogo industry “has turned the country into a haven for human trafficking, scamming, kidnapping, and other criminalities that have adversely affected many of our people.” Widely lauded was the signing of Executive Order No. 74 on Nov. 5, 2024, signaling a key milestone in the effort to eradicate Pogos. There are also moves to hold Philippine officials, who were found to have encouraged and even benefited from Pogos, accountable for their actions. But what can the Filipino people do about Pogos, especially now that the 2025 elections are approaching? According to a Pulse Asia Survey in September 2024, 99 percent of Filipinos do not trust China. According to the poll, the United States remains the most trusted partner of Filipinos for national development at 79 percent followed by Japan (50 percent), Canada (43 percent), and Australia (42 percent). It follows that the rejection of pro-China candidates in the May 2025 midterm elections is at 73 percent. Only 5 percent of Filipinos say they “will support” a pro-China candidate, while 23 percent are ambivalent. Meanwhile, a Social Weather Stations (SWS) survey conducted in the same month revealed that fighting corruption, job creation, livelihood generation, and financial literacy are the key components that should be central to a senatorial platform in the 2025 elections. The SWS survey also found that nine out of 10 Filipinos (91 percent) agreed that “government officials involved in corruption must be held accountable.” The issue of Pogos has exposed the weaknesses and vulnerabilities of our systems, especially with foreign influence combined with Filipinos posing as leaders who put their interests above all else. Pogos reveal very deep and alarming issues, and these must be addressed right now before they can do more harm. Elections are a time for people to be heard. Our people deserve leaders who will put our nation’s interests above all else. Anything less merits their rejection. —————- Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . Dindo Manhit is the founder and CEO of Stratbase Group.Letter: You heard what?
Qatar tribune Mohammad Hosseini As science continues its evolution, discoveries and technologies can act like a master key that opens doors that lead to novel advancements. Artificial intelligence is one such key, making innovations possible by solving complex problems, automating tasks and enabling research that would have been impossible, or very time-consuming, without it. But do we want to do research on all topics, and shall we try the AI master key on every door? To explore this question, let’s consider the use of AI by genomics experts as an example. In recent years, genomics experts have added unbelievable depth to what we know about the world and ourselves. For example, genetics researchers have revealed facts about when certain animals and plants were domesticated. In another example, DNA found in 30,000-year-old permafrost was used to create fertile samples of a plant called narrow-leafed campion. Importantly, genetic engineering techniques such as CRISPR facilitate extraordinary advances in the treatment of complicated conditions, such as sickle-cell anemia. Thanks to AI developments, we are witnessing a dramatic increase in the pace and scalability of genomic techniques, which will allow researchers to embark on exploratory journeys — and at the same time, add urgency to already-existing ethical issues. AI companies are also most interested in the scientific implications of this technology. We see this demonstrated in a recent interview between Harvard Business School officials and OpenAI CEO Sam Altman. In response to the question, “What are the pieces of AI that you are most excited about?” Altman said: “Greatly increasing the rate of scientific discovery is what I’m most excited about.” However, given the risks and possible consequences of AI use in science, should we rush headlong into using AI in all kinds of projects? One relevant example is research on Neanderthals, our closest relatives, who lived until about 40,000 years ago. Neanderthals have been studied for several years now through genetic investigation of their fossils and their DNA. Genetic engineering can potentially use ancient DNA and genome editing methods to re-create a Neanderthal or aspects of a Neanderthal’s genetics and physiology. To do this, scientists could start by figuring out the DNA sequence of a Neanderthal by comparing it with the DNA of modern humans, since they are closely related. Then, scientists could use CRISPR to swap out parts of human DNA with Neanderthal DNA. This process would require a lot of trial and error and might not succeed soon, but based on what we know about genetics, if something is possible, AI can help make it happen faster, cheaper and with less effort. Scientists are excited about these developments because they could facilitate new discoveries and open up many new research opportunities in genetic research. With or without AI, research on Neanderthals will proceed, but the extraordinary power of AI could give the final push to these discoveries and facilitate this kind of resurrection. At that point, the scientific community must develop norms and guidelines about how to treat these resurrected beings with dispositions very similar to humans. We would need to carefully consider their rights and well-being almost in the same way as when humans are involved and not as research subjects or artifacts of scientific curiosity. These ethical issues are discussed in more detail in a new paper published in the journal Nature Machine Intelligence. A more holistic question to consider is: Should we prioritize the use of resource-intensive AI, researchers’ time and public funds to resurrect extinct beings? Or should we invest these resources into conserving species that are critically endangered today to prevent biodiversity from more degradation? (Mohammad Hosseini, PhD, is an assistant professor in the Department of Preventive Medicine at Northwestern University’s Feinberg School of Medicine.) Copy 29/12/2024 10
Torrents of water seen leaking into the stands at new Everton stadium AGAIN just months before Toffees are due to move in Merseyside club have been at Goodison Park since 1892 but leave next summer Their new Bramley Moore Dock Stadium has been plagued by flooding issues SOCCER A-Z: Listen now wherever you get your podcasts, or watch on YouTube. New episodes every Wednesday By SAM LAWLEY Published: 15:54 EST, 5 December 2024 | Updated: 16:28 EST, 5 December 2024 e-mail 65 shares 10 View comments Shocking footage has emerged of water gushing into the stands of the new Everton stadium just months before the club are due to move there. The Toffees have played at the iconic Goodison Park since 1892, with the ground hosting an FA Cup final as well as a semi-final at the 1966 World Cup in that time. But the Merseyside team are due to move their home to the purpose-built Bramley Moore Dock Stadium at the start of the 2025-26 season. The new 52,888 seater stadium is set to be complete by the end of the year and at least three test events will follow in the early months of 2025. Meanwhile, the site of Goodison will be redeveloped to include some social housing, a community health centre and education hub, while the area currently occupied by the playing surface will remain as a garden. As work progresses with the shiny new venue, an alarming clip of torrents of water leaking into the stadium has emerged on X. Everton's new stadium appears to have become flooded once again months before they move in A jaw-dropping clip sees water rushing at a pace down the stands after some rainfall Those filming believe the leak is coming from the top corner of the stand at the building site Some people filmed themselves entering the ground from the concourse area but were almost drenched by the water before they could even see the pitch as it raced down the stairs. As they panned to show the rest of the stand, the stream could be seen in every direction moving at a ferocious pace down the newly-installed seats and the stairs. Those filming eventually discovered where the leak was coming from, with water seemingly getting in from the top corner of the stand. This marks the second time in just two months that leaks have caused chaos at Everton's new stadium with similar scenes going viral on X in October. Everton explained to Mail Sport then that the internal drainage in the stadium had yet to be installed. Meanwhile, fans' concerns could be eased by the fact that the stadium has been built to withstand floods for up to 100 years. Colin Chong, the project's development director said in 2021: 'In 60 years time, the climate could be a completely different climate to what we have today. 'We have a number of consultants who forecast what the potential climate could be in 60 or 100 years, and take into account global warming and other stuff. It's a bit of a dark art, having said that you have to plan ahead.' Build an ironic stadium you said? pic.twitter.com/qNy5FKYvdd — Jimmy the Moonlight (@James_LFC6) December 5, 2024 The Toffees are due to move from their home at Goodison Park after more than 130 years The Bramley Moore Dock Stadium will be their new home from the start of the 2025-26 season Video appeared on social media in October showing one of the stands drenched amid downpour He added: 'We are actually probably building one of the most complex projects in one of the most difficult locations. Read More EXCLUSIVE Everton's new stadium considered for Ashes Test as Australia's rugby league side head on tour 'It's in a world heritage site, it's in a floodplain, it's in a docklands environment which is used to control the Leeds-Liverpool canal there - and we literally have to raise the footprint of the stadium by over a metre to create a new level if you want to call it that, where hopefully the experts will have got it right. 'The rest of Liverpool could flood but the football stadium should be ok!' Everton will hope to be a Premier League side when they eventually move into their new home, having not been a second-tier team for 70 years. Their 4-0 win over Wolves on Wednesday night will allow Sean Dyche to breathe a little easier, with the Toffees moving up to 15th. Everton Share or comment on this article: Torrents of water seen leaking into the stands at new Everton stadium AGAIN just months before Toffees are due to move in e-mail 65 shares Add commentGreat economist reformer statesman Maharashtra leaders remember Manmohan SinghIt seems the Opposition politicians are hard at work these days, trying to whip up a storm over ‘Mahaviru Naa’ celebrations in the North—much like the recent Bay of Bengal depression, which after wreaking havoc here, conveniently blew its cyclonic rage straight into Tamil Nadu. But. the deep depression having intensified into cyclone Fengal over the Bay of Bengal petered out rather predictably before slamming into Indian shores last Monday. As the Indian Meteorology Department had forecast, it faded into a modest low-pressure area over Northern Tamil Nadu—hardly the devastating ending some might have anticipated from a cyclone. Prof. Abeysinghe Lasantha Sandika When a storm dumps enough rain to flood the country, you might think it would spark some collective empathy or at the very least, a serious conversation about disaster relief. But no—welcome to the South, where the political playbook dictates that the best response to agricultural devastation is a healthy dose of communal tension. After all, what is a few thousand hectares of rice and vegetables and crop cultivations going under water when there is ‘tense’ issue such as the ‘Mahaviru Naal’ in the North to milk for political theatrics? Simmer the communal hot pot Never mind the farmers, whose cultivations, including 64,000 hectares of paddy in the Northern and Eastern Provinces alone now resembling lakes going underwater. Forget the fact that these regions bore the brunt of nature’s fury and that over two million farmers in the country depend on rice farming to keep their families fed and the country afloat. Who cares about livelihoods when you can simmer the communal hot pot to cause nationwide discontent? And so, as the water recedes and farmers stare at their ruined fields, the political stage shifts to the tried-and-tested formula: whip up a little communal tension and fan the flames. You would have successfully diverted attention from an agricultural crisis to a convenient political spectacle. Or are we having a South-style master class in political misdirection? So here we are, wading through the aftermath of a devastating flood, while the political scriptwriters dream up their next act. The country has 2.3 million hectares of agricultural land, with 80 percent dedicated to non-plantation food crops such as rice, maize, vegetables, fruits and other crops, according to the Agriculture Department. The sector employs 28 percent of the country’s labour force, with small-scale farmers contributing the bulk of the agricultural output. It’s too early to quantify the full extent of crop damage or the economic fallout from the floods, but assessments are underway, according to Dr. Chamila Chandrasiri, Director of the Socio-Economic and Planning Centre at the Agriculture Department. “Give us a week or two to get the assessments rolling,” she stated, noting that water must first recede from the flood-affected paddy fields and farmlands. Only then will agricultural officers be able to compile a complete report on the affected farmers, farmlands and crop losses. Speculation, however, is rife. Critics argue that the National People’s Power Government may struggle to address the crisis, with murmurs of a looming food shortage due to flood-induced crop damage. Rumours also swirl about potential price spikes in rice, vegetables and fruit during the festive season and possibly well into next year. And if that’s not enough, a so-called ‘coconut mafia’ is reportedly emerging, threatening to hike prices alongside the notorious rice cartels. While these projections aren’t entirely baseless, they remain speculative. The Government has ramped up support for farmers, providing access to fertiliser and better agricultural inputs. The Ministry of Agriculture, in collaboration with the Hector Kobbekaduwa Agrarian Research and Training Institute (HARTI) has also initiated long-term strategies to promote climate-smart agriculture and ensure food security and resilience. HARTI Director and Chief Executive Officer, Prof. Abeysinghe Lasantha Sandika said they did not expect a flood-induced weather during this cultivation season. He said the relevant agenciesat no point of time forecast the kind of heavy rains that triggered floods. According to him the weather forecasters did not forecast the severity of the weather. The recent floods across Sri Lanka have left paddy fields and farmlands submerged, causing significant damage to crops and irrigation systems. While the Meteorology Department issued a heavy rain warning on November 19, HARTI’s Prof. Sandika believes such forecasts need to be communicated at least a month in advance to allow farmers to adapt their sowing schedules. Effort washed away Farmers had sown seeds on November 15, just days before the rains struck. “The entire effort was washed away,” said Prof. Sandika. Now, farmers face the costly task of re-cultivating, with seed paddy and fertiliser costs doubling. This burden extends to the Government, which must support the recovery effort through subsidies and aid. It is essential to study climate changes more closely and reassess when farmers should plant crops, instead of strictly conforming to traditional farming schedules Farmers now face the daunting task of restarting their cultivation processes and repeat the entire sowing procedure. This has effectively doubled their costs, creating additional financial strain not only to farmers but also for the Government, which has pledged to support recovery efforts. Prof. Sandika highlighted that activating the Government’s fertiliser subsidy program was a key step to alleviate the burden. He assured that measures to restart cultivation are already in motion, with the subsidy program set to play a pivotal role. Interestingly, the delayed activation of the subsidy program in certain areas has turned out to be a blessing in disguise. Since the initial crops in those regions were destroyed by floods, the program can now be implemented without the risk of losses on the prematurely ruined harvests. This timing allows the Government to focus its resources more effectively on supporting re-cultivation efforts. Paddy cultivation in low-lying areas of the Northern and Eastern Provinces has been among the hardest hit by the recent floods. Extensive damage has also been reported to paddy and vegetable fields in districts such as Anuradhapura, Polonnaruwa, Ampara and Jaffna, while fruit and vegetable farming in the Nuwara Eliya and Badulla Districts has suffered significant setbacks. The impact extends beyond farmers and their families, affecting urban populations, particularly in Colombo, who rely on rural agricultural produce. Vegetable prices have soared, forcing consumers in urban areas to pay significantly more for basic food items. Nutrient-rich sediment However, there is a silver lining amidst this crisis. According to Professor Sandika, receding flood waters often leave behind nutrient-rich sediment that can improve soil fertility. This natural enrichment can enhance soil productivity, though the benefits depend on factors such as the flood type, the affected region and the pre-existing soil condition. These nutrients deposited by floodwaters have agricultural importance. For example Nitrogen, which is an organic matter from decaying, plants and sediment, is essential for plant growth. Nitrogen is a critical component of chlorophyll, which is vital for photosynthesis. Then Phosperous- which aids in root development and improves flowering and fruiting. Phosphorus is crucial for energy transfer within plants. Also Potassium, micronutrients such as Zinc, Iron, Magnesium and Calcium are also found in this fertile sediment. They contribute to natural soil enrichment, and replenish nutrient-depleted lands, he said. This means once they re-start cultivation, there will be an increase in their crop yield. There will be marked improvement in food security. The floods’ aftermath presents an opportunity for improved agricultural yields in the future, provided the recovery and replanting efforts are managed effectively. This underscores the need for comprehensive support systems and climate-adaptive agricultural strategies. Prof. Sandika said as for crop damage, the Agriculture Department was working on it. Meanwhile, the Department of Irrigation has carried out a rough assessment indicating that the floods have significantly damaged irrigation infrastructure, with repairs potentially costing over Rs. 6,000 million. In response to the immediate recovery needs of farmers, the Agriculture and Agrarian Insurance Board will provide compensation through its insurance schemes. Compensation will be available for six key crops – paddy, maize, potato, soybean, onion, and chilli – with a maximum payout of Rs 40,000 per acre. However, many farmers are unlikely to receive full compensation, since their crops were lost shortly after sowing, meaning they could receive less than Rs. 16,000 per acre, depending on their specific insurance agreements. Prof. Sandika said that his personal view was that rice farmers should be compensated more and he is aware that the Government was taking steps to compensate vegetable farmers in the upcountry and the low country. Meanwhile, free seed paddy is to be distributed to farmers. Flood risk When asked about measures to mitigate future flood risks to paddy fields and farmlands, Prof. Sandika said the importance of developing a forewarning system was paramount. He said that even the monsoon patterns were shifting, making it crucial to adapt by adjusting the crop calendar to align with changing weather patterns. “We cannot change Mother Nature, but we must learn to adapt to it,” he said. He also pointed out that it is essential to study climate changes more closely and reassess when farmers should plant crops, instead of strictly conforming to traditional farming schedules such as the Yala and Maha seasons. This approach would help farmers move away from outdated methods and embrace more flexible, climate-resilient practices. To mitigate future climate risks, Prof. Sandika advocates the adoption of climate-smart agriculture, emphasizing the use of technology. While farmers traditionally rely on experience to determine planting schedules, he said that it’s time to shift to farming based on empirical evidence and research. This transition will allow farmers to make more informed decisions and better manage climate-related challenges. He also highlighted the vulnerability of farmers cultivating crops on open land, which are more prone to weather extremes. To address this, Prof. Sandika suggests identifying entrepreneurs and guiding them towards protective agricultural practices. Many young farmers in the country are already using modern technology such as net houses and greenhouses to cultivate crops, to protect crops from adverse weather, pests and disease. Some of them have become successful exporters. Net houses and greenhouse farming are forms of controlled-environment agriculture that optimise growth conditions, improve crop quality, and allow for off-season cultivation. These methods differ in design, materials, and functionality but share the goal of enhancing yields and providing a more resilient farming model in the face of climate change. HARTI is leading a program to promote climate-smart agriculture by supporting young, entrepreneurial farmers. In collaboration with the Government, HARTI helps aspiring farmers’ access loan schemes of up to Rs. 3 million to start greenhouse farming. This initiative is supported by global partners, including the World Bank, which backs climate-protected agricultural practices. Through specialised training programs, HARTI is guiding traditional farmers to embrace modern, resilient farming techniques. These efforts are intended to improve economic stability and the country’s food security. The training helps farmers transition from traditional methods to more sustainable, climate-smart practices. The program is a key opportunity for young farmers to develop skills, boost welfare and contribute to the country’s agricultural and economic growth. By providing guidance, resources, and financial support, HARTI is helping create a new generation of agricultural entrepreneurs who can tackle climate challenges and enhance food production systems.
Qatar tribune Mohammad Hosseini As science continues its evolution, discoveries and technologies can act like a master key that opens doors that lead to novel advancements. Artificial intelligence is one such key, making innovations possible by solving complex problems, automating tasks and enabling research that would have been impossible, or very time-consuming, without it. But do we want to do research on all topics, and shall we try the AI master key on every door? To explore this question, let’s consider the use of AI by genomics experts as an example. In recent years, genomics experts have added unbelievable depth to what we know about the world and ourselves. For example, genetics researchers have revealed facts about when certain animals and plants were domesticated. In another example, DNA found in 30,000-year-old permafrost was used to create fertile samples of a plant called narrow-leafed campion. Importantly, genetic engineering techniques such as CRISPR facilitate extraordinary advances in the treatment of complicated conditions, such as sickle-cell anemia. Thanks to AI developments, we are witnessing a dramatic increase in the pace and scalability of genomic techniques, which will allow researchers to embark on exploratory journeys — and at the same time, add urgency to already-existing ethical issues. AI companies are also most interested in the scientific implications of this technology. We see this demonstrated in a recent interview between Harvard Business School officials and OpenAI CEO Sam Altman. In response to the question, “What are the pieces of AI that you are most excited about?” Altman said: “Greatly increasing the rate of scientific discovery is what I’m most excited about.” However, given the risks and possible consequences of AI use in science, should we rush headlong into using AI in all kinds of projects? One relevant example is research on Neanderthals, our closest relatives, who lived until about 40,000 years ago. Neanderthals have been studied for several years now through genetic investigation of their fossils and their DNA. Genetic engineering can potentially use ancient DNA and genome editing methods to re-create a Neanderthal or aspects of a Neanderthal’s genetics and physiology. To do this, scientists could start by figuring out the DNA sequence of a Neanderthal by comparing it with the DNA of modern humans, since they are closely related. Then, scientists could use CRISPR to swap out parts of human DNA with Neanderthal DNA. This process would require a lot of trial and error and might not succeed soon, but based on what we know about genetics, if something is possible, AI can help make it happen faster, cheaper and with less effort. Scientists are excited about these developments because they could facilitate new discoveries and open up many new research opportunities in genetic research. With or without AI, research on Neanderthals will proceed, but the extraordinary power of AI could give the final push to these discoveries and facilitate this kind of resurrection. At that point, the scientific community must develop norms and guidelines about how to treat these resurrected beings with dispositions very similar to humans. We would need to carefully consider their rights and well-being almost in the same way as when humans are involved and not as research subjects or artifacts of scientific curiosity. These ethical issues are discussed in more detail in a new paper published in the journal Nature Machine Intelligence. A more holistic question to consider is: Should we prioritize the use of resource-intensive AI, researchers’ time and public funds to resurrect extinct beings? Or should we invest these resources into conserving species that are critically endangered today to prevent biodiversity from more degradation? (Mohammad Hosseini, PhD, is an assistant professor in the Department of Preventive Medicine at Northwestern University’s Feinberg School of Medicine.) Copy 29/12/2024 10
CHICAGO (AP) — Blackhawks defenseman Alec Martinez and forward Craig Smith could return in time for the NHL Winter Classic. Martinez and Smith participated in the team's optional morning skate ahead of Sunday night's 5-1 loss to the Dallas Stars. Martinez was placed on injured reserve on Dec. 13 because of a neck injury, and Smith went on IR on Dec. 20 with a back injury. Interim coach Anders Sorensen described Martinez and Smith as day to day. “They're close,” Sorensen said. Martinez and Smith signed with Chicago in free agency last summer. Martinez has one goal and three assists in 15 games, and Smith has six goals and four assists in 26 games. The Blackhawks host the St. Louis Blues on Tuesday in the Winter Classic at Wrigley Field — home of baseball's Chicago Cubs. The Blackhawks shuffled their defensemen ahead of their matchup with Dallas, recalling Wyatt Kaiser from Rockford and assigning Kevin Korchinski to their American Hockey League affiliate. The 20-year-old Korchinski, who was selected by Chicago with the No. 7 pick in the 2022 draft, had five goals and 10 assists in 76 games with the Blackhawks last season. He was brought up by Chicago on Dec. 8 and skated in nine games before he was sent back down. “If you look at his overall development, throughout the season, he’s taken big steps forward in his development,” Sorensen said. “We saw flashes of that early when he was up here and we want to make sure he stays on that track.” AP NHL: https://www.apnews.com/hub/NHL
The Mangaluru city police are searching for a person accused of drugging and sexually assaulting a woman from Mangaluru. He is also accused of raping the woman several times by threating to release video clippings of the sexual assault on social media. In a complaint filed recently at the Mangaluru East police station, the victim said she befriended the accused on July 21 when he helped her in repairing her car that had broken down on a city road. He introduced himself to her as Mohammed Shafin. On August 1, he helped in repairing the refrigerator in her house. On that day, he offered her juice mixed with a sedative. When she was asleep he raped her. He threatened to release the video of the rape and sexully assaulted her several times later. He had taken her car to his house, the complaint said. When she went to his house in Deralakatte on October 25, Shafin’s brother Mohammed Shiyab threatened to sexually assault her. When he attempted to touch her inappropriately, she ran out of the the house. On October 27 night, Shafin came to her house and stole ₹62,000 from her bag when she was cooking food., she stated in the complaint. On November 26, the Mangaluru East police registered her complaint for offence punishable under Sections 3 (5), 64, 76, 331, 351(3), 305(a) of Bharatiya Nyaya Sanhita and Section 67(a) of Information Technology Act Published - December 08, 2024 02:00 am IST Copy link Email Facebook Twitter Telegram LinkedIn WhatsApp RedditAs the end of the year approaches, now’s the time to start preparing for filing your 2024 tax return in 2025. When it comes to tax strategies, generally Dec. 31 is the deadline to make changes that might lower your tax bill. One major exception is the deadline for contributing to a : You have until April 15, 2025, to make a contribution to a Roth or traditional IRA for tax year 2024. If you qualify for , then a contribution to your traditional IRA can reduce your taxable income for 2024. Here are tips and strategies to prepare now for the 2025 tax-filing deadline. If you had significant changes in your life in 2024 — maybe you got married or divorced, started your own business, or had to claim unemployment benefits — your taxes may be more complicated. As a result, you might need to hire a certified public accountant (CPA), enrolled agent (EA) or other tax professional to prepare and file your taxes. If you decide to hire someone, it’s best to start planning for that sooner rather than later. Waiting until the calendar flips to April could cost you. The average fee for a professional to prepare and file a simple Form 1040 tax return, with no itemized deductions, is about $220, according to a survey by the National Society of Accountants in 2020-2021, the most recent data available. But that amount rises quickly for more complex returns, and varies depending on where you live. For example, a Form 1040 with itemized deductions costs an average of $432 in states on the Pacific Coast, compared with $285 in New England. No matter where you live, prices usually rise as the tax deadline approaches, so it’s smart to start searching for a tax pro soon. If you’re uncomfortable doing your taxes on your own and can’t afford a CPA, enrolled agent or other tax pro, or to , there are free options to consider. The IRS currently offers three ways to prepare your taxes for free: •With the IRS Free File program, the IRS partners with for-profit tax-software companies that offer free tax-prep software to eligible taxpayers so they can file their federal tax returns for free. Some taxpayers may also qualify for a free state tax filing, depending on the software provider. In January, the IRS will announce the income limit to qualify for the program for the 2025 tax season (for filing 2024 tax returns). For the 2024 tax season (2023 tax returns), taxpayers’ adjusted gross income (AGI) couldn’t exceed $79,000. •The IRS also offers its Direct File program, a free tool that allows you to file your federal income tax return directly with the IRS at no cost. The program supports simple tax returns and is available only in certain states. Check to see if you qualify here. •Another free-filing option is the Volunteer Income Tax Assistance (VITA) program. IRS-certified volunteers offer free basic tax preparation in person to people who earn less than $67,000 a year, are disabled or whose English is limited. The IRS has an online location tool for hundreds of free tax preparation sites in the U.S. (the locator tool is updated from February through April). Some VITA sites also offer online tax-prep assistance. Now is a good time to create an IRS If you want to see your Form 1040 from last year, or you’re missing a prior year Form W-2 or mortgage interest statement, you can find your documents using this free tax tool. Another benefit of creating an IRS online account is that it allows you to quickly obtain your prior year’s tax information without sitting on the phone for hours with an IRS representative, says Carl Johnson, a certified public accountant in New Orleans. An IRS online account also lets you view your account balance and payment history for each year. You can also create a payment plan to settle your federal income tax debt within minutes. If you’re 73 years old and have enjoyed watching your 401(k) or IRA grow tax-free without touching it, remember that the IRS is going to want its share each year. That means you’ll have to make withdrawals — and pay income tax. If you turned 73 in 2024, plan to take your at the latest by April 1, 2025. Read this for more information. The amount of your RMDs is based on your age and the year-end values of your retirement accounts. A has two big tax advantages over a : Qualified withdrawals are not considered income for federal (and usually state) tax purposes, and you don’t have to take distributions from a Roth every year once you reach age 73. may save you money in the long run. Just know that when you convert an IRA to a Roth, it’s considered taxable income, which will raise your tax bill for that year. Generally, it’s best to convert to a Roth IRA when you’re in a low-income year. As tax season approaches, many people start receiving phone calls, emails and texts from entities claiming to be the IRS. Be wary, and understand that these are scams. Typically, the IRS will mail you a notice before using any other method of communication to notify you concerning issues with your tax return. The IRS won’t reach out via social media or text messaging. Relatedly, the IRS warns taxpayers to be careful when choosing a tax preparer. Taking time to vet your tax preparer is crucial to protect yourself from tax scams and fraud. Before hiring a tax professional, search that person’s name in the to avoid dishonest “professionals.” “Taxpayers should check the tax professional’s credentials,” Johnson says. Tax pros without credentials “may take questionable positions without any degree of scrutiny or fear of losing their access to the profession,” Johnson says. Taxpayers who and owe a tax bill, or who file but don’t on time, risk severe penalties. The IRS can even seize assets if necessary. Respond quickly if the IRS has been sending you letters because it found an error on your return or claims you owe back taxes. Typically, the IRS will send you a notice if you have a balance due, changes were made to your tax return, or the agency needs additional information. “If you ignore a collection letter from the IRS, you may face wage garnishments, liens, bank levies, and other adverse action. And in some cases, the amount due may increase for failure to respond,” Johnson says. Keep in mind the IRS does offer and other payment plans. Make copies of your correspondence and use only the U.S. Postal Service, the postmark from which is your proof of timeliness when responding. But whatever you do, don’t ignore the IRS because this may cause more issues in the future.
Open defecation practice among traders in Ebute-Ero and four other major markets in Lagos has become a public health threat to the residents as they have raised the alarm over looming disease outbreaks. CHIJIOKE IREMEKA reports The scorching sun blazed down that Tuesday afternoon, overpowering the usually cool breeze wafting through the Ebute-Ero waterside community. Though the breeze offered a momentary reprieve from the heat, it carried a stench enough to make one lose one’s lunch. Ebute-Ero, an ancient community on Lagos Island, is known for its bustling Ebute-Ero market. Ebute Ero market which is lined with open stalls and lockup shops is one of the oldest and largest markets in Nigeria. It is located in the Lagos Island Local Government Area. Currently, the market has become infamous for the unchecked dumping of human waste directly into its surrounding water bodies (lagoon). The cause of the stench, PUNCH Healthwise discovered during visits to the market, was the indiscriminate passing of human waste into the water bodies. Our correspondent during the visits saw some of the traders squatting down on the concrete barriers to defecate inside the water bodies. Also, along the CMS-Ebute-Ero route, others were spotted relieving themselves on patches of green vegetation. Further observation of the area revealed a frequent influx of individuals, traders, artisans, drivers, and visitors to water bodies to relieve themselves. It is common to see them rushing to the concrete barriers with one or two sachets of water or a plastic bottle of water to clean up after defecating. Women, it was observed, often sought more private areas, which was why some squat between closely parked vehicles, defecate in nylon bags, and toss them into the water. Pretending to be pressed, our correspondent squatted down on the concrete barriers to observe. A few minutes later, a young man joined the throng of men mounting the concrete barriers and relieved himself into the water. Striking up a friendly conversation with the newcomer to the scene, 26-year-old Basiru Olateru, a wholesaler in beverages, our correspondent confirmed that many visitors and workers alike answered nature’s call in the water body. The Osun State indigene noted that many of the public toilets meant to serve their needs were often in a filthy state, creating an easy excuse to pass their waste into the Lagoon. Olateru said the public toilets in Oke-Arin and Apongbon markets close to Ebute-Ero market were notorious for their lack of cleanliness, maintenance, and the absence of basic hygiene supplies. He said, “The public toilet is usually dirty and lacks maintenance. In some cases, you will go there to defecate but the state of the toilet will push you away. The place lacks maintenance, and there is no soap or disinfectant. “Apart from the smell that comes from there, in some cases, people use the toilet and leave them in a terrible position until the operators come and clean it up. You will see stains and patches of excreta in the toilet bowl that would make you uncomfortable. “They would want you to sit down to defecate, but that is the part I don’t like because it brings my body in close contact with the bacteria that can cause infections.” He claimed to have treated an infection he got from a public toilet and would not want a repeat of the situation, hence his decision to defecate outside of the public toilets. Available but dirty toilets A middle-aged driver at the Ebute-Ero park, Jide Adesola, waited his turn to call passengers into his vehicle. He told PUNCH Healthwise that he paid N100 each time he used the toilet. Uncomfortable with the charges, Adesola chose to defecate directly into the lagoon, undeterred by the presence of law enforcement officers. However, that seemed not to be his only alibi. He mentioned that despite the N100 charge, the toilets were dirty. The driver said, “In most cases, the toilets are dirty and overcrowded. I feel uncomfortable and unsafe using them. Even the smell will not allow you to breathe, and that is why I use the one in the water each time I visit. At least our wastes go into the water and do not smell.” Water from Lagoon However, this practice poses serious environmental and health risks for some residents who depend on this water for fishing and other domestic purposes. Online maps show that Makoko, a community known for its fishing and living on the Lagoon, is situated south of Ebute-Ero. This implies that the excreta deposited at the Ebute-Ero end of the lagoon would be carried towards the fishing town, polluting the water body. Our correspondent further learnt that the Ebute-Ero community relied on water from the lagoon for daily activities, such as cooking, cleaning, and fishing. Residents who spoke with PUNCH Healthwise said this practice had exposed the entire community to waterborne diseases including cholera, diarrhoea, and even incurable hepatitis B and C, among other infections. They raised concerns about the lack of sanitation facilities in the markets, saying that existing ones were often in poor condition, dirty, and overcrowded, thereby pushing people to practice the outlawed open defecation by using the lagoon. The residents lamented that efforts to address the situation have been hindered by a lack of government oversight and willpower to restore sanity, thereby creating a public nuisance. Street boys built toilets in water While the state is grappling with this unwholesome practice, louts defied the environmental and sanitation laws and built a toilet directly in the water for people to use at a fee. However, the legality of the toilet built in the Marine Water at Ebute-Ero, opposite the Oke-Arin Market, was yet to be unravelled. This unwholesome practice is happening at a time when the state was battling cholera and other infectious diseases. Findings revealed that the Lagos State Ministry of Environment had at a point dismantled the toilet but was rebuilt by the boys, and since then, no government official, not even the local government council, had raised an eyebrow at this menace. Over 3.9 million toilets needed According to the Joint Monitoring Programme, Open Defecation, popularly known as OD, refers to the practice of defecating in fields, forests, bushes, bodies of water, or other open spaces. “Defecating in the open is an affront to dignity and a risk to children’s nutrition and community health,” it added. Recently, the United Nations Children’s Fund said Nigeria will need to build no fewer than 3.9 million toilets annually to meet the 2025 target for ending open defecation practices. UNICEF chief, Jane Bevan, disclosed this at the opening of a two-day Maiden Toilet Business Owners Conference in Abuja, saying, “About 1.3 per cent of Gross Domestic Product, or N455 billion, is lost annually due to poor access to sanitation—health, health care savings, and productivity.” She stated that current toilet construction in the country stood between 180,000 and 200,000 toilets annually, describing it as inadequate. More so, Nigeria presently occupies the topmost level on the ladder of OD and in order to combat the menace, former President Muhammadu Buhari declared a state of emergency on OD as contained in Executive Order 009 titled: The Open Defecation Free Nigeria by 2025 and Other Related Matters. The declaration was expected to be followed by actions from each state to domesticate the Order and plan towards its application and sustenance to achieve Open DefecationFree status by 2025. Sequel to this, the Lagos State Governor, Mr Babajide Sanwo–Olu, took the lead role and set the pace for others to emulate by signing an Executive Order titled: Enforcement of Law and Order in Respect of Traffic and Sanitation Matters. This Order was to restore stability and accountability to all citizens to become active stakeholders in bringing necessary changes to transform Lagos into the desired state. However, these have not achieved the desired goal as over 46 million Nigerians still practise OD, according to UNICEF’s report. Bridge turned toilet To further examine the extent of open defecation and the neglect of public toilets in other markets in the state, our correspondent visited Oke-Arin, Apongbon, Oshodi, and Iyana-Iba markets. At Iyana-Iba, street urchins, popularly called Omo-Ita, traders, and their visitors turned a newly constructed bridge adjoining Ojo General Hospital’s site into an open defecation destination. Traversing the bridge from the Expressway to the back of the hospital is a difficult and unpleasant journey, as one is forced to hold one’s breath to avoid the overpowering stench of faecal matter scattered across the bridge. PUNCH Healthwise noticed an inscription written in red ink on the sidewalls of the bridge, “No Toilet. N5,000.” This warning, perhaps intended to discourage people from using the bridge as a latrine, yielded no success as our correspondent observed several individuals defecating there without restraint or fear of punishment. A 23-year-old petty trader, Juliet Obor, explained that there were three major toilets used by people in the market, emphasising that many, particularly the ‘area boys,’ still preferred using the bridge as a toilet. Obor, who sells grains, noted that while the privately owned toilet was well-maintained and disinfected, the government-run toilets were often neglected and dirty. When asked why the government toilets were not as clean as the privately owned ones, she responded, “Can the government toilet ever be neater than the private one? Who cleans it? But here, the operator cleans it immediately after someone uses it.” Obor explained that although she used the private toilet whenever she needed to urinate, she preferred to go to her house nearby to defecate. The state of the bridge, she added, was an embarrassment to the environment and government, expressing concern about how the construction company would continue work at the site amid such extensive faecal contamination. Related News Lagos residents decry incessant crashes in Badagry N5m donation tears Celestial church apart, founder’s son disrupts service Sanwo-Olu swears in eight new perm secs, tutors-general Similar situation in Apongbon A trader, Chizoba Ndilika, said the scarcity of clean public toilets pushed him to urinate in the open. He said, “If the toilets are well maintained, I will be using the public toilet. But with the experience I had with the public toilet, I don’t like using it anymore. It is hard for you to see clean public toilets. “I can urinate there but can’t sit on that bowl to defecate. Like I said, the least I can do is to be there.” Deplorable toilet walls At Oshodi, the story is similar, as our correspondent spotted some individuals defecating on the railway towards Mushin. One of the perpetrators, identified as Taju, and suspected to be one of the louts on the street of Oshodi, said he had no time for public toilets. Some of the toilets visited at Oshodi were in extremely poor condition. One was dilapidated to the extent that the exposed blocks on the walls were visible through the crumbling plaster. Fear of contracting disease Some traders who spoke with PUNCH Healthwise at the market said the fear of infection was the reason they did not patronise certain toilets in the market. One of the traders who deals in baby wear, Hayatu Ishola, said it was a common practice to see women covering themselves with wrappers while urinating on the streets rather than going into the public toilets. She said that squatting down to urinate in a dirty toilet could make women contract infection. But when she was heavily pressed, she would manage the toilet but would get antibiotics immediately after to prevent infections. “Ordinarily, I don’t enter those public toilets because they are dirty. The only one I manage to use is the one at the BRT plaza. But each time I use it, I must take antibiotics to protect myself against infections. “Women’s bodies are open, and you don’t urinate or defecate anywhere you see else you will carry infections. It pays me to go to the nearby bush to ease myself rather than to go to a public toilet unless that toilet is clean. “There is always water on the floor of the toilet, and the water is not free from bacteria, and there are many sicknesses in the country now. The best is for you to avoid this market toilet unless the toilets are well disinfected. I pity the women who use public toilets regularly,” Ishola said. Totally against our sanitation laws –Lagos Speaking on the development, the Director of Public Affairs, Lagos State Ministry of Environment and Water Resources, Kunle Adeshina, said constructing such toilets on the water bodies was strange. He said, “Some of these are managed by local governments while some are managed by private owners with whom we have a very robust relationship. What is however strange, is the fact that this toilet you are talking about has been built on the water body which is totally against our sanitation laws. “The relevant department in the Ministry will investigate this and apply necessary sanctions where necessary. For the umpteenth time, open defecation has no place in this state. We will continue to enforce the provisions of the law against them. “The problem of open defecation is a major social issue that the present administration is tackling headlong. We are combining enforcement with moral suasion because the state believes that if advocacy is stepped up as it is being done now, people will come to realise the health hazards of open defecation and refrain from it.” The Lagos State Government on Tuesday reiterated its commitment to eliminate open defecation and prioritise good sanitation practices across the state. The Commissioner for the Environment and Water Resources, Tokunbo Wahab, made this known at the Year 2024 World Toilet Day celebrations held at Adeyemi Bero Auditorium, Alausa, Ikeja, saying the government would continue to proffer solutions to all sanitation challenges across the state. He said every World Toilet Day celebrates the importance of toilets, raising awareness of the 4.2 billion people living without access to safely managed sanitation. He added that the day was also about taking action to tackle the global sanitation crisis and achieve Sustainable Development Goal 6: Water and Sanitation for all by 2030. Wahab stated that the national theme, “Use the Toilet and Have Peace,” was very apt as it focused on the fact that for billions of people, sanitation was under threat arising from conflict, climate change, disaster and neglect. He said, “When sanitation services are destroyed, damaged or disrupted, untreated human waste spreads in the environment, unleashing deadly diseases such as cholera and diarrhoea which affect community health and the well-being of citizens.” Wahab explained that in addressing the menace of open defecation in the state, the government had developed four cardinal roadmaps which are advocacy/sensitisation; bridging the infrastructure gap; standardisation and regularisation of existing facilities as well as ensuring adequate monitoring and enforcement. In 2022, UNICEF stressed that the impact of open defecation in Nigeria was huge, indicating that more than 100,000 children under five years of age die each year due to diarrhoea; of which 90 per cent was directly attributable to unsafe water and sanitation. It noted that one in four children under five years of age exhibit severe stunting, while one in 10 is wasted, due to frequent episodes of diarrhoea and other Water, Sanitation, and Hygiene-related diseases. UNICEF also launched a national campaign tagged ‘Clean Nigeria: Use the Toilet’ to jump-start the country’s journey towards becoming open defecation-free by 2025. 90% households consume faeces-contaminated water – NBS Also, the Multiple Indicator Cluster Survey carried out in 2017 by the National Bureau of Statistics in collaboration with UNICEF, said 90 per cent of households in Nigeria consume faeces-contaminated water and other impure substances. According to UNIC’s Monitoring and Evaluation Specialist, Mrs Maureen Zubie-Okolo, the water and sanitation situation in the country is worrisome; water-borne diseases, such as diarrhoea have been the leading cause of hospital admissions, especially among under-five children. The World Health Organisation ranked Nigeria as fifth among countries practising open defecation, while India topped the chart with 626 million people. We’ve warned them Reacting to the situation, one of the market leaders, Rassaq Azeez, said that the market leadership had warned them to stop using the place as a toilet but they refused to listen. “We have written a warning on almost all the pavements there to stop them, but they paid a deaf ear. You can see the heap of faeces on the bridge and how the company would handle it is what I don’t know. “We have several toilets here, not as if we don’t have toilets in this place, but the majority of them will not want to pay N100 or N50 to use the toilet. The money paid is to keep the toilet clean,” he said. Also, an operator of a privately owned toilet, who simply identified herself as Sola, said that some people make use of the toilet, while others don’t. “My toilet is the most used because I keep it clean. We disinfect it immediately after someone finishes using it,” said the operator of a privately owned toilet. We have enough toilets – Market leader Reacting to the condition of the public toilets, one of the market leaders working with the Iyaloja, Ade Olakunle, said, “We have enough toilets in this place. Each new building comes with toilet facilities.” On the reason people preferred open defecation to public toilets, he said, “Don’t mind those people going there to defecate. The practice has mastered them. It is a decision they have taken over a long period. “As for this Oke-Arin market, we have enough toilets to take care of the traders and visitors to the market. The one over there was provided by the area boys where they defecate. They collect N100 for others to use.” Asked why Lagos State allowed such environmental and aquatic degradation, he said, “It used to be bigger than this but the Ministry of Environment came and scattered it, but the area boys put it back. “When the local government came back, they couldn’t do anything about it. And the structure has been there for a long time. The area boys resisted the government. “So, we have enough toilets, but if you are talking about other markets, I don’t know. There are several markets here. They are also called the Ebute-Ero market.” The leader of Methodist Plaza, Emeka Onubogu, affirmed that some of the toilets were dirty, saying that he only used toilets in Methodist Plaza and another at the Post Office side along Oshodi Road for fear of infections. He, however, said that most of the people who practice open defecation in Oshodi were the street boys who were not ready to part with a dime even if the toilet was at their doorstep. Onubogu said, “We have enough toilets here but not all are clean and infections can be gotten from such dirty places. I use only the toilets in my plaza and one at the Post Office. Outside these two, I do not use anyone again.” Re-orientation way out – Experts Reacting to the spate of open defecation in the state, an environmentalist and a Senior Lecturer in the Department of Environmental Health Sciences, University of Ibadan, Dr Oladapo Okareh, said Nigerians should be given proper re-orientation on the dangers of OD, saying that the practice could lead to an outbreak of diseases like cholera and diarrhoea. “Open defecation constitutes a major public health problem. It’s a public menace because it easily leads to outbreaks of communicable diseases like cholera, typhoid, diarrhoea, intestinal infections, and respiratory diseases,” he added. Also, a public health expert at the Nnamdi Azikwe University Teaching Hospital, Nnewi, Anambra State, Mrs Joy Anichebe, said water-borne diseases like cholera and diarrhoea were deadly diseases that could kill a child within one hour of the ailment. She noted, “Diseases like urinary tract infections, gastroenteritis, skin infections such as cellulitis, and even Hepatitis B and C, could be prevented if our public toilets are well taken care of and the people stop contaminating the water bodies and the land with faeces of infected persons.” We’re partnering with locals, transport unions – MOE&WR The MOE&WR Director of Public Affairs, who earlier spoke with PUNCH Healthwise, said the state government was constructing 100 new public toilets. “These new eco-friendly toilets will complement the existing toilets, which will be available for use at minimal charges. We will continue to enlighten residents on the dangers. “For Iyana-Iba market and similar locations where we have rampant cases of open defecation, the state is partnering with locals and transport unions to have people monitor the areas and apprehend people who try to defecate there. “Most of them use the cover of darkness to perpetrate this act. A success of this template has been recorded at Ojodu Berger which used to be a scene of unprecedented open defecation but is being policed round the clock by volunteers now,” Adeshina said.
SAN RAMON, Calif., Dec. 05, 2024 (GLOBE NEWSWIRE) -- CooperCompanies (Nasdaq: COO), a leading global medical device company, today announced financial results for its fiscal fourth quarter and full year ended October 31, 2024. Fourth quarter 2024 revenue of $1,018.4 million, up 10%, or up 7% organically. Fiscal year 2024 revenue of $3.9 billion, up 8%, or up 8% organically. Fourth quarter 2024 GAAP diluted earnings per share (EPS) of $0.58, up 38%. Fiscal 2024 GAAP diluted EPS of $1.96, up 33%. Fourth quarter 2024 non-GAAP diluted EPS of $1.04, up 19%. Fiscal 2024 non-GAAP diluted EPS of $3.69, up 15%. See "Reconciliation of Selected GAAP Results to Non-GAAP Results" below. Commenting on the results, Al White, Cooper's President and CEO said, "Fiscal 2024 was a great year for Cooper having achieved record consolidated revenues, including record CooperVision revenues, record CooperSurgical revenues and record non-GAAP EPS. We look forward to continued success in fiscal 2025 and thank all of our employees for driving these results." Fourth Quarter Operating Results Revenue of $1,018.4 million, up 10% from last year’s fourth quarter, up 9% in constant currency, up 7% organically. Gross margin of 67% compared with 65% in last year’s fourth quarter driven by price and efficiency gains. On a non-GAAP basis, gross margin was similar to last year at 67%. Operating margin of 19% compared with 15% in last year’s fourth quarter driven by SG&A expense leverage and stronger gross margins. On a non-GAAP basis, operating margin was 26%, up from 24% last year. Interest expense of $27.0 million compared with $26.3 million in last year's fourth quarter. On a non-GAAP basis, interest expense was $25.6 million, down from $26.4 million. Cash provided by operations of $268.1 million offset by capital expenditures of $139.9 million resulted in free cash flow of $128.2 million. Fourth Quarter CooperVision (CVI) Revenue Revenue of $676.4 million, up 9% from last year’s fourth quarter, up 8% in constant currency, up 8% organically. Revenue by category: Revenue by geography: Fourth Quarter CooperSurgical (CSI) Revenue Revenue of $342.0 million, up 12% from last year's fourth quarter, up 12% in constant currency, up 5% organically. Revenue by category: Fiscal Year 2024 Operating Results Revenue of $3,895.4 million, up 8% from fiscal 2023, up 9% in constant currency, up 8% organically. CVI revenue of $2,609.4 million, up 8% from fiscal 2023, up 8% in constant currency, up 9% organically, and CSI revenue $1,286.0 million, up 10% from fiscal 2023, up 11% in constant currency, up 5% organically. Gross margin of 67% compared with 66% in fiscal 2023. Non-GAAP gross margin was 67% compared with 66% in fiscal 2023. Operating margin of 18% compared with 15% in fiscal 2023. Non-GAAP operating margin was 25% compared with 24% in fiscal 2023. Cash provided by operations of $709.3 million offset by capital expenditures of $421.2 million resulted in free cash flow of $288.1 million. Fiscal Year 2025 Financial Guidance The Company initiated its fiscal year 2025 financial guidance. Details are summarized as follows: Fiscal 2025 total revenue of $4,080 - $4,158 million (organic growth of 6% to 8%) CVI revenue of $2,733 - $2,786 million (organic growth of 6.5% to 8.5%) CSI revenue of $1,347 - $1,372 million (organic growth of 4% to 6%) Fiscal 2025 non-GAAP diluted earnings per share of $3.92 - $4.02 Non-GAAP diluted earnings per share guidance excludes amortization and impairment of intangible assets, and certain income or gains and charges or expenses including acquisition and integration costs which we may incur as part of our continuing operations. With respect to the Company’s guidance expectations, the Company has not reconciled non-GAAP diluted earnings per share guidance to GAAP diluted earnings per share due to the inherent difficulty in forecasting acquisition-related, integration and restructuring charges and expenses, which are reconciling items between the non-GAAP and GAAP measures. Due to the unknown effect, timing and potential significance of such charges and expenses that impact GAAP diluted earnings per share, the Company is not able to provide such guidance. Reconciliation of Selected GAAP Results to Non-GAAP Results To supplement our financial results and guidance presented on a GAAP basis, we provide non-GAAP measures such as non-GAAP gross margin, non-GAAP operating margin, non-GAAP diluted earnings per share, as well as constant currency and organic revenue growth because we believe they are helpful for the investors to understand our consolidated operating results. Management uses supplemental non-GAAP financial measures internally to understand, manage and evaluate our business, to make operating decisions, and to plan and forecast for future periods. The non-GAAP measures exclude costs which we generally would not have otherwise incurred in the periods presented as a part of our continuing operations. We provide further details of the non-GAAP adjustments made to arrive at our non-GAAP measures in the GAAP to non-GAAP reconciliations below. Our non-GAAP financial results and guidance are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. To present constant currency revenue growth, current period revenue for entities reporting in currencies other than the United States dollar are converted into United States dollars at the average foreign exchange rates for the corresponding period in the prior year. To present organic revenue growth, we excluded the effect of foreign currency fluctuations and the impact of any acquisitions, divestitures and discontinuations that occurred in the comparable period. We define the non-GAAP measure of free cash flow as cash provided by operating activities less capital expenditures. We believe free cash flow is useful for investors as an additional measure of liquidity because it represents cash that is available to grow the business, make strategic acquisitions, repay debt, or buyback common stock. Management uses free cash flow internally to understand, manage, make operating decisions and evaluate our business. In addition, we use free cash flow to help plan and forecast future periods. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. EPS, amounts and percentages may not sum or recalculate due to rounding. (1) Charges include the direct effects of acquisition accounting, such as amortization of inventory fair value step-up, professional services fees, regulatory fees and changes in fair value of contingent considerations, and items related to integrating acquired businesses, such as redundant personnel costs for transitional employees, other acquired employee related costs, and integration-related professional services, manufacturing integration costs, legal entity rationalization and other integration-related activities. The acquisition and integration-related charges in fiscal 2024 were primarily related to the Cook Medical acquisition and integration expenses. The acquisition and integration-related charges in fiscal 2023 were primarily related to the Generate acquisition and integration expenses. Charges included $2.9 million and $8.4 million related to redundant personnel costs for transitional employees, $0.7 million and $4.5 million of professional services fees, $1.4 million and $1.4 million of manufacturing integration costs, $1.5 million and 1.5 million of inventory fair value step-up amortization, and $0.7 million and $4.1 million of other acquisition and integration-related activities in the three and twelve months ended October 31, 2024, respectively. The twelve months ended October 31, 2024 also included $0.7 million regulatory fees. Charges included $7.5 million and $21.9 million related to redundant personnel costs for transitional employees, $6.5 million and $16.2 million of professional services fees, $2.9 million and $6.5 million of manufacturing integration costs, $3.1 million and $5.0 million of legal entity rationalization costs, $0.9 million and $2.7 million regulatory fees, and $0.6 million and $5.0 million in other acquisition and integration-related activities, in the three and twelve months ended October 31, 2023, respectively. (2) Charges include costs related to product line exits such as inventory write-offs, site closure costs, contract termination costs and specifically-identified long-lived asset write-offs. Charges included $2.3 million of write-offs of long-lived assets and $1.7 million of other costs related to product line exits in the twelve months October 31, 2024. No charge related to product line exits was incurred in the three months ended October 31, 2024. Charges included $3.4 million and $7.9 million of site closure costs related to the exit of the lens care business, $0.4 million and $1.1 million of other costs related to product line exits in the three and twelve months ended October 31, 2023, respectively. The fourth quarter of fiscal 2023 also included $9.8 million of intangible assets impairment charge associated with the discontinuation of certain products. (3) Charges represent incremental costs of complying with the new European Union (E.U.) medical device regulations for previously registered products and primarily include charges for contractors supporting the project and other direct third-party expenses. We consider these costs to be limited to a specific time period. (4) Charges represent the costs associated with initiatives to increase efficiencies across the organization and optimize our overall cost structure, including changes to our IT infrastructure and operations, employee severance costs, legal entity and other business reorganizations, write-offs or impairments of certain long-lived assets associated with the business optimization activities. Charges included $1.5 million and $10.6 million of employee severance costs, $1.0 million and $4.1 million related to changes to our IT infrastructure and operation, and $0.4 million and $2.9 million of legal entity and other business reorganizations costs, in the three and twelve months ended October 31, 2024, respectively. The twelve months ended October 31, 2024 also included $0.7 million of other optimization costs. Charges included $1.4 million and $11.3 million of employee severance costs, $1.4 million and $1.9 million of legal entity and other business reorganizations costs, and $0.3 million and $5.9 million related to changes to our IT infrastructure and operations, partially offset by $0.2 million and $0.4 million of other items in the three and twelve months ended October 31, 2023, respectively. (5) Amount represents an accrual for probable payment of a termination fee in connection with an asset purchase agreement in the second quarter of 2023, which was paid in August 2023. (6) Amount represents the release the contingent consideration liability associated with SightGlass Vision's regulatory approval milestone in the first quarter of 2023. (7) Charges include certain business disruptions from natural causes, litigation matters and other items that are not part of ordinary operations. The adjustments to arrive at non-GAAP net income also include gains and losses on minority interest investments and accretion of interest attributable to acquisition installment payables. Charges included $1.5 million and $5.9 million of gains and losses on minority interest investments, $1.4 million and $5.5 million of accretion of interest attributable to acquisition installments payable, $0.6 million and $1.5 million related to legal matters in the three and twelve months ended October 31, 2024, respectively. Charges included $1.6 million and $6.3 million of gains and losses on minority interest investments, and $1.3 million and $4.6 million related to legal matters in the three and twelve months ended October 31, 2023, respectively. The twelve months ended October 31, 2023 also included $1.1 million of other items. (8) In fiscal 2021, the Company transferred its CooperVision intellectual property and goodwill to its UK subsidiary. As a result, we recorded a deferred tax asset equal to approximately $2.0 billion as a one-time tax benefit in accordance with U.S. GAAP in fiscal 2021 as subsequently adjusted for changes in UK tax law. The non-GAAP adjustments reflect the ongoing net deferred tax benefit from tax amortization each period under UK tax law. Audio Webcast and Conference Call The Company will host an audio webcast today for the public, investors, analysts and news media to discuss its fourth quarter results and current corporate developments. The audio webcast will be broadcast live on CooperCompanies' website, www.investor.coopercos.com , at approximately 5:00 PM ET. It will also be available for replay on CooperCompanies' website, www.investor.coopercos.com . Alternatively, you can dial in to the conference call at 800-715-9871; conference ID 2026064. About CooperCompanies CooperCompanies (Nasdaq: COO) is a leading global medical device company focused on improving lives one person at a time. The Company operates through two business units, CooperVision and CooperSurgical. CooperVision is a trusted leader in the contact lens industry, improving the vision of millions of people every day. CooperSurgical is a leading fertility and women's health company dedicated to assisting women, babies and families at the healthcare moments that matter most. Headquartered in San Ramon, CA, CooperCompanies ("Cooper") has a workforce of more than 16,000 with products sold in over 130 countries. For more information, please visit www.coopercos.com. Forward-Looking Statements This earnings release contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Statements relating to guidance, plans, prospects, goals, strategies, future actions, events or performance and other statements of which are other than statements of historical fact, including our fiscal year 2025 financial guidance are forward looking. In addition, all statements regarding anticipated growth in our revenues, anticipated effects of any product recalls, anticipated market conditions, planned product launches, restructuring or business transition expectations, regulatory plans, and expected results of operations and integration of any acquisition are forward-looking. To identify these statements look for words like "believes," "outlook," "probable," "expects," "may," "will," "should," "could," "seeks," "intends," "plans," "estimates" or "anticipates" and similar words or phrases. Forward-looking statements necessarily depend on assumptions, data or methods that may be incorrect or imprecise and are subject to risks and uncertainties. Among the factors that could cause our actual results and future actions to differ materially from those described in forward-looking statements are: adverse changes in the global or regional general business, political and economic conditions including the impact of continuing uncertainty and instability of certain countries, man-made or natural disasters and pandemic conditions, that could adversely affect our global markets, and the potential adverse economic impact and related uncertainty caused by these items; the impact of international conflicts and the global response to international conflicts on the global and local economy, financial markets, energy markets, currency rates and our ability to supply product to, or through, affected countries; our substantial and expanding international operations and the challenges of managing an organization spread throughout multiple countries and complying with a variety of legal, compliance and regulatory requirements; foreign currency exchange rate and interest rate fluctuations including the risk of fluctuations in the value of foreign currencies or interest rates that would decrease our net sales and earnings; our existing and future variable rate indebtedness and associated interest expense is impacted by rate increases, which could adversely affect our financial health or limit our ability to borrow additional funds; changes in tax laws, examinations by tax authorities, and changes in our geographic composition of income; acquisition-related adverse effects including the failure to successfully achieve the anticipated net sales, margins and earnings benefits of acquisitions, integration delays or costs and the requirement to record significant adjustments to the preliminary fair value of assets acquired and liabilities assumed within the measurement period, required regulatory approvals for an acquisition not being obtained or being delayed or subject to conditions that are not anticipated, adverse impacts of changes to accounting controls and reporting procedures, contingent liabilities or indemnification obligations, increased leverage and lack of access to available financing (including financing for the acquisition or refinancing of debt owed by us on a timely basis and on reasonable terms); compliance costs and potential liability in connection with U.S. and foreign laws and health care regulations pertaining to privacy and security of personal information such as the Health Insurance Portability and Accountability Act of 1996 (HIPAA) and the California Consumer Privacy Act (CCPA) in the U.S. and the General Data Protection Regulation (GDPR) requirements in Europe, including but not limited to those resulting from data security breaches; a major disruption in the operations of our manufacturing, accounting and financial reporting, research and development, distribution facilities or raw material supply chain due to challenges associated with integration of acquisitions, man-made or natural disasters, pandemic conditions, cybersecurity incidents or other causes; a major disruption in the operations of our manufacturing, accounting and financial reporting, research and development or distribution facilities due to the failure to perform by third-party vendors, including cloud computing providers or other technological problems, including any related to our information systems maintenance, enhancements or new system deployments, integrations or upgrades; a successful cybersecurity attack which could interrupt or disrupt our information technology systems, or those of our third-party service providers, or cause the loss of confidential or protected data; market consolidation of large customers globally through mergers or acquisitions resulting in a larger proportion or concentration of our business being derived from fewer customers; disruptions in supplies of raw materials, particularly components used to manufacture our silicone hydrogel lenses; new U.S. and foreign government laws and regulations, and changes in existing laws, regulations and enforcement guidance, which affect areas of our operations including, but not limited to, those affecting the health care industry, including the contact lens industry specifically and the medical device or pharmaceutical industries generally, including but not limited to the EU Medical Devices Regulation (MDR), and the EU In Vitro Diagnostic Medical Devices Regulation (IVDR); legal costs, insurance expenses, settlement costs and the risk of an adverse decision, prohibitive injunction or settlement related to product liability, patent infringement, contractual disputes, or other litigation; limitations on sales following product introductions due to poor market acceptance; new competitors, product innovations or technologies, including but not limited to, technological advances by competitors, new products and patents attained by competitors, and competitors' expansion through acquisitions; reduced sales, loss of customers, reputational harm and costs and expenses, including from claims and litigation related to product recalls and warning letters; failure to receive, or delays in receiving, regulatory approvals or certifications for products; failure of our customers and end users to obtain adequate coverage and reimbursement from third-party payers for our products and services; the requirement to provide for a significant liability or to write off, or accelerate depreciation on, a significant asset, including goodwill, other intangible assets and idle manufacturing facilities and equipment; the success of our research and development activities and other start-up projects; dilution to earnings per share from acquisitions or issuing stock; impact and costs incurred from changes in accounting standards and policies; risks related to environmental laws and requirements applicable to our facilities, products or manufacturing processes, including evolving regulations regarding the use of hazardous substances or chemicals in our products; risks related to environmental, social and corporate governance (ESG) issues, including those related to regulatory and disclosure requirements, climate change and sustainability; and other events described in our Securities and Exchange Commission filings, including the “Business”, “Risk Factors” and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections in the Company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2024, as such Risk Factors may be updated in annual and quarterly filings. We caution investors that forward-looking statements reflect our analysis only on their stated date. We disclaim any intent to update them except as required by law. Contact: Kim Duncan Vice President, Investor Relations and Risk Management 925-460-3663 ir@cooperco.com THE COOPER COMPANIES, INC. AND SUBSIDIARIES GAAP to Non-GAAP Reconciliation Constant Currency Revenue Growth and Organic Revenue Growth Net Sales
OTTAWA — Peter Anholt tried to keep things light as he emerged from one of the elevators at Canada's hotel. The temperature had been turned way up on the veteran hockey executive and the country's under-20 program after a stunning upset some 12 hours earlier. "You only want to talk to me when things are bad, eh?" Anholt joked to reporters Saturday morning. "Is that how this works?" That is indeed what happens when a powerhouse with a record 20 gold medals expected to roll over an opponent suffers one of its worst all-time defeats at the tournament. Canada was embarrassed on home soil 3-2 by Latvia — a country it had thumped by a combined 41-4 score across four previous meetings — in a shocking shootout Friday. Coming off a disastrous fifth-place finish last year in Sweden and having talked a lot about upping their compete level and preparation, the Canadians looked disjointed for long stretches against the plucky, hard-working Latvians. The power play finally clicked late in the third period, but stands at 1-for-7 through two games, while the top line of Easton Cowan, Calum Ritchie and Bradly Nadeau has yet to translate its pre-tournament chemistry into success in the spotlight. "We're certainly trying to problem solve, but not throw the baby out with the bath water," said Anholt, who heads the world junior setup. "We've got to be really careful." Canada, which picked up a solid 4-0 victory over Finland to open its tournament Thursday, had plenty of offensive zone time and directed 57 shots at Latvian goaltender Linards Feldbergs. Included in that total, however, were far too many one-and-done efforts from the perimeter with little traffic in front. There were, of course, desperate spurts — especially late in regulation and in 3-on-3 overtime — but not nearly enough for a roster peppered with first-round NHL draft picks and top prospects. "We played really, really hard," Anholt said in defending his players. "We controlled the puck lots. We created some chances. Their goalie was really good and they defended really good ... 99 times out of 100 we win that game." Hoping for a big response Sunday against Germany before meeting the United States on New Year's Eve to tie a bow on round-robin action in Group A, Canada will have to push ahead minus one of its best players. Star defenceman Matthew Schaefer was injured Friday and is done for the tournament after he slammed into Latvia's net and skated off favouring his left shoulder area. "Tough blow for the kid," Anholt said. "The way he plays the game, he plays it at such a high speed." Cowan, a Toronto Maple Leafs first-round selection, said Canada remains confident despite Friday's ugly result in the nation's capital. "We're good," said the 19-year-old from Mount Brydges, Ont. "Everyone's lost a hockey game before." But not like that — or to that opponent on that stage. "Bit of a (crappy) feeling," said Nadeau, a Carolina Hurricanes prospect from St-Francois-de-Madawaska, N.B. "We all know what this group is capable of. Losing that game is not our standard. "We'll bounce back." Some corners of social media exploded following the Latvian debacle, with heavy criticism directed at head coach Dave Cameron and the team's overall roster construction. "We're not really worried about it," defenceman and Ottawa native Oliver Book, who like Cowan is back from last year's team, said of the outside noise. "We know we didn't play well." Canada appears poised to mix things up against the Germans. Vancouver Canucks prospect Sawyer Mynio of Kamloops, B.C., is set draw in for Schaefer, while Anholt indicated there's a good chance forward Carson Rehkopf will get his first crack at the 2025 tournament as a returnee. The 19-year-old Seattle Kraken second-round pick from Vaughan, Ont., has scored a combined 78 goals over his last 97 regular-season and playoff games in the Ontario Hockey League. "Great player," Cowan said. "He finds ways." Anholt said taking a big-picture approach is key in challenging moments. "Let's not panic," he said. "The world hasn't fallen in. It's hard, but we'll learn from it." It's something Canada will have to do under intense scrutiny. "People are gonna love you and people are gonna hate you," said Cowan, who has a goal an assist through two games. "Gotta keep doing you." Anholt, who was also at the helm 12 months ago when Canada never got in gear, isn't getting 2024 vibes from this year's group. "Not even in any way, shape or form," he said. "We've just got to take care of business." They get a first shot at redemption Sunday. This report by The Canadian Press was first published Dec. 28, 2024. Joshua Clipperton, The Canadian Press"Immense Loss For The Nation": India Mourns Ex-PM Manmohan Singh
How a hedge fund exodus reshaped global cocoa marketsOTTAWA — Parents of children who died because of online sexual extortion are urging MPs to act on online harms legislation. The bill and other legislation have been blocked from moving forward for months due to a parliamentary privilege debate raging between the Liberals and Conservatives. Justice Minister Arif Virani split the bill into two parts this week heeding calls from critics to separate the more controversial hate speech provisions from the child exploitation components. But the bill still can’t move forward until the privilege filibuster is over. Barbie Lavers, whose teenage son died by suicide after being extorted online over intimate images, told House of Commons committee today that she supports the act and asked politicians to come to a temporary alliance and stop using children as political pawns to show “one party is more correct than the other.” Carole Todd, whose daughter Amanda died by suicide due to online sextortion, told MPs it is hurtful to watch political arguments after waiting 12 years for legislation. This report by The Canadian Press was first published Dec. 5, 2024. Anja Karadeglija, The Canadian Press
