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Every December, as it has since 1927 with Charles Lindbergh, Time magazine selects and features the most consequential Person of the Year (13 United States presidents, other world leaders, popes). Sometimes it has not been a person, as such, but a tectonic societal shift (the personal computer, the #MeToo movement). Donald Trump, just named Time’s 2024 Person of the Year , was first elevated to that title after his 2016 election victory. He is consequential because he has returned to power even after attempting to overturn the results of the 2020 presidential election, even after supporting the insurrection on January 6, 2021, and notwithstanding being twice impeached and convicted of a felony. President-elect Donald Trump speaks during Time magazine’s Person of the Year announcement at the New York Stock Exchange. Credit: AP This year, no one else was on so many people’s minds as Trump. In Time’s judgment , Trump was “the person who had the greatest influence, for better or worse, on the events of the year”. Time might have conferred the accolade jointly on Trump and Elon Musk, given Musk’s astonishing fusion of more than $US250 million in campaign contributions with his dominance over his X platform to help make Trump president. If influence is power, Musk has it. With ceaseless hours at Trump’s side to help shape his presidency, and his establishment and funding of a Musk think tank that will generate edicts for Trump to impose to re-sculpt the government, Musk has effectively supplanted JD Vance to become Trump’s vice president. Musk’s power is second only to Trump’s. For the next two years, Trump will be at his zenith. He will never have to face the voters again, which means he can act with impunity as he makes decisions to advance Trumpism and all that he wants to accomplish. Trump’s Republican Party, which he now owns, controls both houses of Congress, so there will be no more impeachments. His attorney-general and chief of the FBI will go after his political enemies . His secretary of defence will ensure that his generals follow his orders – overseas and in the streets of America’s cities. Public servants will take loyalty oaths or be purged. Trump will take money appropriated by the Congress away from programs he does not like and divert it to his priorities. On the world stage, Trump will present more like Putin, Xi and Orban than Starmer, Macron and Albanese. Trump has already broken the norm of the US having “one president at a time” with his pre-inaugural threats to Mexico, Canada and China on trade and his forays into concluding the wars in Ukraine and the Middle East on his terms. His first inaugural address eight years ago featured the dystopian theme of “American carnage”. We will see how deep he wallows in that dark pool on January 20, 2025. Immediately after his address, when he arrives in the Oval Office, Trump’s march through the first 100 days will formally begin. Political newsletter Axios reports that “Trump advisers are running out of words to describe what’s coming in January”. “They say he feels empowered and emboldened, vindicated and validated, and eager to stretch the boundaries of power.” Trump will sign dozens of executive orders repealing everything he can that Biden did with his executive démarches four years ago, such as on climate, abortion rights, immigration, gun control and student loans. Trump’s nominees will face confirmation hearings and votes in the Senate. There will be firestorms around Kash Patel to head the FBI, who wants to close the FBI’s building, expel its agents around the country and prosecute Trump’s enemies; Robert Kennedy Jr as secretary of health and human services, who wants to take a baseball bat to how Anthony Fauci practises medicine, but is opposed by 75 Nobel laureates ; Pete Hegseth at Defence, under fire for sexual misconduct, alcohol abuse and financial mismanagement; and Tulsi Gabbard as director of national intelligence, who many see as an asset to Putin. Any who are knocked back will be replaced by other loyal Trumpists with the same mandates. They will do all that Trump wants. Trump will move to pardon and release from jail hundreds of his foot soldiers who stormed the Capitol on January 6. After Biden’s pardon of his son Hunter, Trump will not even be singed by the critics. Trump will begin the detention and process of deporting hundreds of thousands of immigrants across the country. He will unveil legislation to get his budget, close the borders, cut taxes and fight over the public debt limit to avoid a default of the United States. Trump will begin to implement his campaign promises – over and above the threats against Mexico, Canada and China – to impose across-the-board tariffs of up to 20 per cent on all goods coming into the US and up to 60 per cent for imports from China. Will Australia be in these crosshairs? There is absolutely no basis on which Trump’s tariffs on Australia can be justified. Trump loves a trade surplus. Australia has a structural trade deficit with the US. Australia has a free trade agreement with the US. New higher tariffs are incompatible with the letter and spirit of that trade pact. But there is a real threat here. Trump has just ripped up the trade agreement he negotiated in his first term with Canada and Mexico. If Trump can do that to those allies he can do it to Australia. This could be the first hard test in the Australia-US, Albanese-Trump relationship. Trump – let’s call him Person of the Century, so far – is on a high. The year ahead will be savage. The waves of Trump’s first 100 days will hit Australia’s shores too. Bruce Wolpe is a senior fellow at the University of Sydney’s United States Studies Centre. He has served on the Democratic staff in the US Congress and as chief of staff to former prime minister Julia Gillard.

Luckily, there’s another tactic to help you earn a “gift whisperer” reputation: seeking out unique, practical, game-changing gifts that will truly surprise and delight. But that’s about as easy as it sounds, which is to say it’s not easy at all. So, we’ve done the legwork for you. Start making your list with this compilation of some of the most innovative, functional and fun gifts of 2024. There’s something for every budget. A pepper grinder, really? Bear with me: The new FinaMill Ultimate Spice Grinder set elevates the pedestrian pepper and spice mill in both function and style. Available in three colors (Sangria Red, Midnight Black and Soft Cream), the rechargeable-battery unit grinds with a light touch rather than hand-tiring twists. That’s easier for everyone and especially helpful for those experiencing hand or wrist issues such as arthritis, carpal tunnel syndrome or tendinitis. And it’s fun to use. The set includes a stackable storage tray and four pods that can be easily swapped as needed: The GT microplane grater for hard spices, nuts and chocolate; the MAX for large spices and dried herbs; the ProPlus for smaller and oily spices; and the Pepper Pod for, well, pepper. $110. To build a fire Campers and backyard firepit lovers who have experienced the heartbreak of wet wood will appreciate having a three-pack of Pull Start Fire on hand. Made of 89% recycled materials, including sanding dust, wax and flint, the food-safe, eco-friendly, 3-by-2-by-1-inch fire starters will light a fire quickly without matches, lighters or kindling. Just loop the attached green string around a log, incorporate it into a wood stack, and pull the attached red string to ignite. Each windproof, rainproof block burns for 30 minutes. $29.99. The place for a ladle is on the pot The No Mess Utensil Set from Souper Cubes , a company known for its portioned, silicone freezer trays, lives up to its name. The utensils — a serving spoon and a ladle — have innovative, S-shaped handles designed to rest on the edge of a pot, keeping them upright so they won’t slip in. The design also eliminates the need for a spoon rest or, worse, placing dirty utensils on the kitchen counter or stovetop between stirs. A silicone coating in a choice of Aqua, Charcoal, Cranberry or Blueberry keeps handles cool to the touch. $24.99. Up your birdwatching with this feeder The FeatherSnap Wi-Fi smart bird feeder could turn anyone into an avid birdwatcher. Equipped with an HD camera, the dual-chamber feeder enables up-close livestreaming of avian visitors, as well as species-logging via the free mobile app. An optional premium subscription ($59.99 annually or $6.99 monthly) includes unlimited photo and video storage, AI identification with species-specific details, and the opportunity to earn badges for logging new visitors. Turn on notifications to get alerts sent to your phone whenever there’s activity at the feeder. $179.99. Printing old-fashioned photos via Bluetooth Fujifilm's Instax Mini Link 3 smartphone printer offers a touch of nostalgia without sacrificing technology. Just load the 4.9-by-3.5-by-1.3-inch printer with Instax Mini instant film and connect it to your Android or iOS device via Bluetooth to print wallet-size photos. If you want to get fancy, you can adjust brightness, contrast and saturation, or apply filters, including 3D augmented-reality effects, via the free Instax Mini Link app. It can also make collages of up to six images, or animate photos to share on social media. Available in Rose Pink, Clay White and Sage Green. $99.95. Houseplants don't get much easier than this The appropriately named easyplant is one of the best gifts you can give your houseplant-loving friends, regardless of their experience level. Select a pot color, size and plant (or get recommendations based on sunlight requirements, pet friendliness and other attributes) and fill the self-watering container’s built-in reservoir roughly once a month. Moisture will permeate the soil from the bottom as needed, eliminating the often-fatal consequences of over- or under-watering. It’s also a literal lifesaver come vacation time. $49-$259. Making your own (plant-based) milk If you’ve got a no-dairy friend on your list, a plant-based milk maker could save them money while allowing them to avoid sugar, stabilizers, thickeners and preservatives. The Nama M1 appliance both blends and strains ingredients, converting nuts, seeds, grains or oats into velvety-smooth milk in just one minute, with zero grit. And for zero waste, the pasty leftover pulp can be used in other recipes for added nutrients. The device also makes infused oils, flavored waters and soups. And, importantly, cleanup is easy. Available in white and black. $400. The perfect temperature for 350,000-plus wines For friends who prefer stronger beverages, the QelviQ personal sommelier uses “smart” technology to ensure wine is served at its ideal temperature. Unlike traditional wine refrigerators, this device doesn’t take up any floor space. It also doesn’t chill wine to just one or two temperatures based on its color. Instead — paired with the free QelviQ app — the tabletop chiller relies on a database of more than 350,000 wines to bring a bottle to its specific recommended serving temperature in as little as 20 minutes. It also suggests food-wine and wine-food pairings. Plus, the appliance serves as a great icebreaker to inspire dinnertime conversation. Available in Exciting Red, Dashing Black and Dreamy White. $495. Casting light on the grill after dark Grilling food after dark — and ascertaining its doneness — can prove challenging without outdoor lighting, and it’s nearly impossible to cook while holding a flashlight. But as is often the case, the simplest of solutions can make the biggest of impacts: Uncommon Good’s 2-piece LED Grilling Tool Set puts illumination into the handles of its stainless-steel spatula and tongs. After use, the lights can be removed and the utensils run through the dishwasher. $40.NEW YORK, Dec. 12, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Light & Wonder, Inc. LNW resulting from allegations that Light & Wonder may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Light & Wonder securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses. WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=29678 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. WHAT IS THIS ABOUT: On September 24, 2024, the Las Vegas Review-Journal published an article entitled "Slot manufacturer scores major win against Las Vegas-based rival." It stated that "Aristocrat Technologies Inc.'s request for a preliminary injunction in its trade-secret and copyright infringement lawsuit against Light & Wonder" had been granted, and that the "order prohibits [Light & Wonder] from the ‘continued or planned sale, leasing, or other commercialization of Dragon Train,' which Aristocrat claims uses intellectual property developed for its Dragon Link and Lightning Link games." On this news, the price of Light & Wonder common stock fell 19.49% on September 24, 2024. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ . Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

AI Composes Sounds Never Heard Before: Unveiling Fugatto, Nvidia’s Revolutionary Audio GeneratorImran Khan has been in a prison for more than a year and faces more than 150 criminal cases that his party says are politically motivated. Pakistani security forces have launched an operation to disperse supporters of imprisoned former prime minister Imran Khan who had gathered in the capital to demand his release from prison. The latest development came hours after thousands of his supporters, defying government warnings, broke through a barrier of shipping containers blocking off Islamabad and entered a high-security zone, where they clashed with security forces, facing tear gas shelling, mass detentions and gunfire. Tension has been high in Islamabad since Sunday when supporters of the former PM began a “long march” from the restive north-west to demand his release. Khan has been in a prison for more than a year and faces more than 150 criminal cases that his party says are politically motivated. Khan’s wife, Bushra Bibi, led the protest, but she fled as police pushed back against demonstrators. Hundreds of Khan’s supporters are being arrested in the ongoing night-time operation. Interior minister Mohsin Naqvi told reporters that the Red Zone, which houses government buildings and embassies, and the surrounding areas have been cleared. Leaders from Khan’s Pakistan Tehreek-e-Insaf party, or PTI, have also fled the protest site. Earlier on Tuesday, Pakistan’s army took control of D-Chowk, a large square in the Red Zone, where visiting Belarusian President Alexander Lukashenko is staying. Since Monday, Mr Naqvi had threatened that security forces would use live fire if protesters fired weapons at them. “We have now authorised the police to respond as necessary,” Mr Naqvi said Tuesday while visiting the square. Before the operation began, protester Shahzor Ali said people had taken to the streets because Khan had called for them. “We will stay here until Khan joins us. He will decide what to do next,” Mr Ali said. Protester Fareeda Bibi, who is not related to Khan’s wife, said people have suffered greatly for the last two years. “We have really suffered for the last two years, whether it is economically, politically or socially. We have been ruined. I have not seen such a Pakistan in my life,” she said. Authorities have struggled to contain the protest-related violence. Six people, including four members of the security services, were killed when a vehicle rammed them on a street overnight into Tuesday. A police officer died in a separate incident. Dozens of Khan supporters beat a videographer covering the protest for the Associated Press and took his camera. He sustained head injuries and was treated in hospital. By Tuesday afternoon, fresh waves of protesters made their way unopposed to their final destination in the Red Zone. Mr Naqvi said Khan’s party had rejected a government offer to rally on the outskirts of the city. Information minister Atta Tarar warned there would be a severe government reaction to the violence. The government says only the courts can order Khan’s release. He was ousted in 2022 through a no-confidence vote in Parliament. In a bid to foil the unrest, police have arrested more than 4,000 Khan supporters since Friday and suspended mobile and internet services in some parts of the country. Messaging platforms were also experiencing severe disruption in the capital. Khan’s party relies heavily on social media and uses messaging platforms such as WhatsApp to share information, including details of events. The X platform, which is banned in Pakistan, is no longer accessible, even with a VPN. Last Thursday, a court prohibited rallies in the capital and Mr Naqvi said anyone violating the ban would be arrested. Travel between Islamabad and other cities has become nearly impossible because of shipping containers blocking the roads. All education institutions remain closed.

3d Systems ( DDD -9.68% ) Q3 2024 Earnings Call Nov 27, 2024 , 8:30 a.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Greetings and welcome to the 3D Systems third-quarter 2024 earnings conference call and webcast. At this time, all participants are in a listen-only mode. [Operator instructions] As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Mick McCloskey, vice president, investor relations. Please go ahead, Mick. Mike McCloskey -- Vice President, Investor Relations Hello, and welcome to 3D Systems' third-quarter 2024 conference call. With me on today's call are Dr. Jeffrey Graves, president and CEO; and Jeff Creech, EVP and CFO. The webcast portion of this call contains a slide presentation that we will refer to during the call. Those following along on the phone who wish to access the slide portion of this presentation may do so on the Investor Relations section of our website. The following discussion and responses to your questions reflect management's views as of today only and will include forward-looking statements as described on this slide. Actual results may differ materially. Additional information about factors that could potentially impact our financial results is included in our latest press release and our recent filings with the SEC, including our most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. During this call, we will discuss certain non-GAAP measures. In our press release and slides accompanying this webcast, you will find additional disclosures regarding these non-GAAP measures, including reconciliations with comparable GAAP measures. Finally, unless otherwise stated, all comparisons in this call will be against our results for the comparable period of 2023. With that, I'll turn the call over to our CEO, Jeff Graves, for opening remarks. Jeff Graves -- President and Chief Executive Officer Thank you, Mick, and good morning, everyone. Today, I'll begin with an overview of our third-quarter results and then touch on some recent key accomplishments and announcements. I'll then ask our CFO, Jeff Creech, to take us through the Q3 in greater detail before closing the call with comments on our outlook, after which we're happy to take questions. So, let's start on Slide 5. At a high level, our third-quarter revenue largely represents a continuation of the trends that we and the additive industry broadly have been contending with for several quarters now. Very simply, macroeconomic and geopolitical uncertainties have caused our customers to reduce capex spending for new capacity in their factories, which in turn has created a persistent headwind to hardware system sales. It's really that simple. As a consequence, our revenues were essentially flat on a sequential basis. This was slightly weaker than we had anticipated as a few key installations of new systems, which were targeted for acceptance late in Q3, slipped into the fourth quarter. However, while the sale of new printing systems is still sluggish, what is changing for the better is the utilization rate of our installed base as indicated by rising sales of consumables to our customers. Consumable materials grew approximately 10% from the prior year and demonstrated sustained sequential growth, a trajectory that has consistently improved since the beginning of the year, most recently growing 9% sequentially in the third quarter versus Q2. In a similar vein, interest in new application development has been on a very robust trajectory. As many of you know, we have one of the largest and most capable application engineering groups in the world. These engineers work directly with our customers on new applications for both metal and polymer 3D printing. Year to date, revenues from our industrial application group are up 26% from last year and continue to rise. We monitor this activity level as a directional indicator of growth potential for new applications. The performance we experienced in Q3 is a strong indicator of continuing growth in customer interest in 3D printing for their production needs. We expect this interest to ultimately translate into more robust sales as the economic environment improves. To provide a little more color on where this interest is coming from -- leading the way or what we refer to as the high-reliability markets, such as energy, oil and gas, semiconductor equipment manufacturing, and aerospace and defense, all of which have a very high standard for component quality, performance, reliability, and traceability. For these customers, which are often subject to strict regulatory requirements, the ability of both our polymer and metal printing solutions to meet their needs and to do so with compelling economics is a cornerstone of our value proposition. As an example of markets that I'm particularly excited about these days are those driven by the trillion-dollar investments being made in AI. These investments cascade directly into several of our targeted end markets, ranging from semiconductor equipment manufacturing to data centers, to the power generation equipment needed to provide electricity critical to their operation. As just one example, the management of heat is absolutely essential to both the manufacturer of silicon chips as well as their performance and life in the data center environment. The nanoscale of advanced microprocessors, combined with the extraordinary number used in a modern data center, creates an extremely challenging environment to keep the processors cool in operation. One way to effectively do so is through the use of high-purity copper elements that can be placed in or very near the heart of a GPU, combining the inherent capability of 3D printing to manufacture complex high-surface area components with our unique capability to ultra-high purity copper with our advanced metal printing systems gives GPU and data center architects, a powerful means of removing heat effectively from the system. Given that the power consumed by data centers now exceeds that of many small countries, this cooling capability is increasingly valuable. And this is just one example of our increasing focus on the full semiconductor ecosystem that we believe will provide one avenue for meaningful growth for our company in the future. Another market we continue to be excited about is high-performance automotive, an example of which is F1 racing. As an example, you may have seen our announcement earlier this month with Sauber Motorsports. In this case, we updated the entire Sauber production facility as they added 10 of our newest production printer systems to their manufacturing workflow. This included eight of our market-leading SLA 750 dual laser printers and two of our just released PSLA 270 platform, all enabled by a host of industry-leading high-performance materials. Sauber will use these systems in large part to validate their aerodynamic designs through rapid fabrication of production components for wind tunnel testing. This award builds on a nearly 20-year relationship between our companies, reflecting the trust they have in our technological leadership and outstanding service capabilities, both of which are essential to their success in this challenging industry. This important win as a strong new element to our automotive foundation, a market which is expected to grow to almost $8 billion in the next few years. Since I mentioned it, let me take a moment to focus on our newest photopolymer printing platform the PSLA 270. This is the first of what will be a family of new projector over Vat printing systems, combining the superior surface quality associated with our flagship SLA printing platform with the blazing speeds offered by the latest high-resolution projector technology. This technology is an outgrowth of our work in regenerative medicine which incorporates a very high-resolution projection system. By replacing a single-point laser with a full field projection system, we attain high precision at much higher print speeds. In fact, the closest competitive solution today would have to run two machines simultaneously to achieve the same output as one PSLA 270. In addition, this system is designed to use our entire portfolio of advanced polymers originally developed for the Figure 4 system. By offering this exceptional platform as a part of a complete factory workflow, we believe our PSLA platforms will lead the industry forward in photopolymer applications. From a healthcare standpoint, the third quarter was strong with solid growth on a sequential and year-over-year basis. We attribute this growth to a meaningful recovery in dental, up well over 30%, and another impressive performance in personalized healthcare, which was up almost 20%. Given the momentum we have in our healthcare business broadly and our strong pipeline of new products and applications ahead, we remain very excited about the future of this portion of our business. From a gross margin standpoint, the third quarter was softer than we had anticipated, predominantly driven by an increase in inventory reserves and continued lower factory utilization, both driven by softness in printer volumes. Jeff Creech will take you through the specifics in more detail shortly. But after normalizing for inventory reserves, our third-quarter operating margins were roughly in line with recent performance. We continue to target a business model that can deliver mid-40% margins or greater over time once the benefits of our in-sourcing and restructuring initiatives are fully realized with increasing volume. Operating expenses for the quarter were consistent with our expectations. We're pleased that our restructuring actions have started to more positively influence performance, representing a nearly $3 million sequential improvement. And while our overall opex expenses are declining, we continue to invest extensively in our R&D activities, which is fueling a historic year of product innovation for our company. More on this in just a few moments. While we're encouraged by some of the leading indicators that we're now seeing, we also recognize that the revenue environment we're operating in today demands an even greater degree of operational efficiency to gain sustained profitability, which is our clear goal. As such, operating expenses remain a strong focus and a lever largely within our direct control in this environment. With that in mind, we maintain our goal of reducing operating expenses to below $6 million for the first quarter with the majority of this improvement coming from reductions in G&A. Lastly, to our balance sheet where we've been focused on optimizing working capital as we position ourselves for future growth, we entered 2024 with a goal to deliver inventory reductions as a healthy generator of cash throughout the year. Today, we remain on pace to reach our target of a 20% inventory reduction by year-end. Over the course of the third quarter, cash on our balance sheet declined $3 million from the prior quarter, a significant rate improvement from prior quarters. This leaves us with one of the strongest cash positions of any company in our industry. On Slide 6, I'd like to take a few moments to reflect on the historic year progress across our technology road map. You've heard this from us many times before, but as the inventor of the technology that birthed the 3D printing industry, our dedication to innovation is a core element of our company culture, maintaining momentum with mission-critical R&D even through a challenging sales environment is not only fundamentally different than most of our peers, but it's embedded deeply in our DNA. This is the primary reason customers turn to 3D Systems first in assessing the capability of 3D printing to meet their metal and polymer production needs. Reflecting this commitment, you witnessed an unprecedented pace of innovation from our company over the last 12 months, contributing nearly 40 new materials, software enhancements, and metal and polymer printing platform since Q3 of last year, '25, and this year alone. And the momentum will continue as we exit this year and move into '25. This represents the culmination of three years of focus and investment, and we're refreshing our entire portfolio of printing platforms and the materials and software that enable their outstanding production performance. From a key application standpoint, during the third quarter, we announced QuickCast Air, which is targeted for the investment casting market. This casting method is essential to aircraft and rocket propulsion systems and other high-performance applications. It's expected to reach nearly $34 billion over the next 10 years. QuickCast Air reliably delivers a large high-precision investment casting pattern in a fraction of the time and cost of traditional methods, providing up to a 50% reduction in resin usage in some cases, while maintaining the inherent advantage of virtually unlimited geometric complexity of design. The result for our customers is higher performing components at lower cost and in much shorter production cycle times for their most demanding applications. On the software front, we announced a significant milestone in commercializing our Oqton industrial MOS platform with our strategic partner, Baker Hughes. Our software, which is now utilized in Bakers Houston, Texas manufacturing facility, is enabling on-demand additive manufacturing to provide full factory floor workflow integration, automation, control, and optimization. Its production implementation is providing key proof points such as a 98% reduction in active monitoring engineering time, a savings of 136 engineering hours per printer annually and an 18% reduction in costs associated with scrap due to real-time actionable alerts during component production. Turning to healthcare. Our personalized healthcare business delivered another quarter of meaningful growth. During the quarter, we were very pleased to announce that we're once again expanding our orthopedic surgical planning portfolio, this time with FDA clearance for our new total ankle patient-matched guides to pair with Smith+Nephew's total ankle replacement solution. This expands our patient-specific surgical solution capabilities in a market anticipated to grow to over $5 billion in the next few years. Today, we're exceptionally well positioned in the craniomaxillofacial and spinal markets and new FDA-approved solutions such as this, highlight our ability to expand our orthopedic applications much further in the human body. We're also leveraging our expertise in surgical solutions into adjacent markets, rolling out expanded capabilities to address the needs of trauma patients in addition. We see opportunities to expand our personalized health service in Europe and elsewhere and are investing accordingly to ensure regulatory approvals are acquired. These growth elements reinforce our enthusiasm about our growth in this key area of our company. For our dental activities, a key growth engine for the future is the multibillion-dollar dentures market. In an important milestone, we secured FDA clearance in September for our first-to-market multi-material single-piece jetted denture solution. Our unique denture offers -- offering provides unparalleled combination of toughness to ensure long-term reliability with outstanding aesthetics for enhanced patient experience. As previously shared, we found an excellent launch partner in Glidewell, one of the world's largest producers of restorative dental devices, who's hit the ground running with implementing Jetted dentures into its workflow following our clearance with the FDA. We're excited to see this product enter the market in the coming months. To wrap up my introduction, undoubtedly, 2024 has been a difficult sales environment. But with our strong balance sheet, we've delivered tremendous progress transforming our technology portfolio. Form next, the largest AM conference of the year that was just held last week, gave us an opportunity to highlight this journey with the announcement of several new product introductions. In addition to our metal and PSLA polymer platforms, we highlighted our newest Titan extrusion platform, which is our inroad into the industrial extrusion printing market. The EXT family, as we call it, includes the 1270, the 1070, and our newest addition, the 800, provides novel approach to extrusion technology, offering a hybrid solution that can accommodate pellets, filaments, and traditional CNC machining, all in one platform. Delivering speeds of five to 10 times faster and having raw material costs roughly 10 times lower than its closest competitor, we see increasing interest from our customers around the world for this family of products. Rounding things out, we've also announced a plethora of new materials supporting our SLA, MJP, and SLS platforms, further expanding the broadest portfolio of additive solutions in the industry and setting the stage for us to drive increased adoption in the years ahead. So, with that, I'll turn things over to our CFO, Jeff Creech, for more on the quarter. Jeff? Jeff Creech -- Executive Vice President, Chief Financial Officer Thank you, Jeff, and good morning, everyone. I'll begin with our revenue summary on Slide 8. Third-quarter revenues of $112.9 million declined 9% from prior year, driven primarily by a continuation of macroeconomic pressures impacting hardware system sales, partially offset by growth in materials sales. On a sequential basis, revenues were roughly flat and impacted by a few large dollar orders that fell outside of our third-quarter close. Within our segments, industrial revenues were $57.9 million and down about 19%, predominantly driven mostly by a decline in printer sales. In our healthcare segment, revenues were $55.1 million for the quarter and grew 5% from prior year. As Jeff just mentioned, growth in the third quarter was primarily driven by a healthy rebound in dental and our personalized healthcare business. Now, let's turn to Slide 9. Non-GAAP gross margin for the third quarter was 37.6% and included an increase in inventory obsolescence reserves taken in the quarter, representing approximately $3 million. Normalizing for the impact related to inventory reserves would result in a margin of 40.2% for the third quarter. Comparing to prior year, margin was 44.8%, which included a significant benefit of regenerative medicine milestone revenue recognition. Excluding the impacts of inventory reserve increases and the milestone recognition in the current and prior quarters, respectively, gross margins would have been 40.2% and 42.7% with a year-on-year decline primarily driven by unfavorable absorption given lower sales volumes. Now, let's move to Slide 10 for operating expense. Non-GAAP operating expense for the third quarter was $61.4 million, increasing $5.6 million from prior year but declining $2.7 million consecutively, in line with our expectations. As an important reminder, the prior-year quarter comparison benefited from a tailwind associated with lower incentive compensation expense in addition to other benefits that were more one-time in nature. Third-quarter operating expense benefited from our previously discussed restructuring actions, and we continue to expect an additional sequential reduction, targeting opex below $60 million for the fourth quarter. Now to Slide 11 to finish up the P&L. We reported adjusted EBITDA of negative $14.3 million for the third quarter, compared to a gain of $4.7 million for the same quarter last year. Declines in adjusted EBITDA primarily reflect lower sales volumes, margin, and higher operating expenses as just discussed. The prior year profitability performance was also significantly impacted by the milestone revenue recognition from our RegMed business, as I just mentioned. In line with my commentary on expected opex savings in the fourth quarter, we would also expect an improvement in adjusted EBITDA sequentially as we continue to move toward our longer-term goal of consistent profitability. For the third quarter, we reported a fully diluted loss per share of $1.35, and this includes noncash charges of approximately $144 million associated with the impairment of goodwill and other long-lived assets as a result of our interim valuation testing during the third quarter of this year. This compared to a loss per share of $0.09 in the third quarter of prior year. Non-GAAP loss per share was $0.12 compared to a gain per share of $0.01 in the prior year. Now to Slide 12 for the balance sheet. We closed the quarter with $190 million of cash and cash equivalents, compared to $193 million at the end of the second quarter of this year. As expected, cash performance represented an improvement in working capital management, particularly as we look to continue driving down inventories as a result of our in-sourcing actions from prior years. As noted on previous calls, we've been highly proactive in repurchasing our debt and have reduced our 0% convertible notes down by over 50% since Q3 of last year, fortifying our position to continue supporting critical R&D investments for the new product releases combined with a keen focus on reducing expenses to drive profitability. Looking forward, we continue to view inventory as a source of cash in the fourth quarter. I'll conclude my remarks on Slide 13. As you heard from us this morning, we continue to make strides across our portfolio to emerge stronger from the current economic cycle when pent-up demand for additive solutions returns. We've been consistent in fueling our R&D engines through a tougher macro environment, driving an acceleration of applications and new product development to emerge stronger in the years ahead. However, we are adjusting our guidance expectations for the full year 2024 as follows. We expect full-year revenues between the range of $440 million to $450 million, which implies a mid- to high-single-digit percentage sequential recovery in the second half revenues from the first half of this year. While the fourth quarter has historically reflected a higher degree of year-end capital budget spending, given current uncertainty in the near term as well as indications of timing adjustments related to inventory management among a few customers, we expect the benefits to be more modest ending the year. Full-year gross margins are expected to be in the range of 38% to 40%, given the impact of short-term inventory reserve adjustments as we continue to integrate our in-sourcing capabilities that we believe, longer term, will improve gross margins to the mid-40% range as volumes recover, and we are able to reap the full benefits of our in-sourcing and restructuring actions. We are maintaining our expectations to deliver opex at or below $60 million for the fourth quarter, continuing its trend of sequential improvement and reflecting the benefits of our previous restructuring. As a result, adjusted EBITDA is expected to improve on a sequential basis, primarily driven by the reduction in operating expense. Jeff, I'll hand it back to you. Jeff Graves -- President and Chief Executive Officer Thanks, Jeff. So, we believe that the broader macro trends negatively impacting our industry to the greatest extent are beginning now to move behind us. With our strong cash position, we've been able to maintain our core investments for the future while consistently restructuring our company to maximize operating efficiencies. Our determination to support key R&D investments are fundamentally different from many others in the industry, and we believe position us well for accelerated growth and profitability as our end markets inevitably strengthen. While we will not be providing explicit comments on 2025 yet, looking beyond this year, as much of our critical R&D work is behind us, we will continue to evaluate incremental actions that can strategically remove costs from our business and drive sustainable profitability. In doing so, I believe we'll deliver meaningful value to all of our stakeholders. So, with that, we'll now open the line for questions. Kevin, if you'd open the line for us, please? Questions & Answers: Operator Certainly. We'll now be conducting a question-and-answer session. [Operator instructions] One moment please while we poll for questions. Our first question is coming from Jim Ricchiuti from Needham and Company. Your line is now live. James Ricchiuti -- Analyst Hi, good morning. Jeff Graves -- President and Chief Executive Officer Good morning, Jim. James Ricchiuti -- Analyst So, looking at your implied revenue guidance for Q4, it's a little surprising with only a month left in the quarter that there's a relatively wide range of scenarios. I'm hoping you could help us understand what's driving that. I mean, it sounds like potentially some of your customers may be working through inventories and maybe that's on the material side. But maybe if you could help us understand that a little? And then I have a quick follow-up. Jeff Graves -- President and Chief Executive Officer Yeah, Jim. I think there's two factors. One of it clearly is inventory management from our customers. They're in good shape, but they want to make sure they don't get out over their skis with the -- all the changes coming in '25 with the -- in the political environment and the geopolitical issues, I think nobody wants to be overly exposed on inventories. So, I don't think it's a massive problem, but certainly, they'll be managing them customer by customer. The big unknown, Jim, is really how much capex they'll be willing to spend in the fourth quarter and at what rate. Even if they cut lose capex late in the quarter as we saw in Q3, some of those installations aren't been completed until the following quarter, which delays revenue recognition on many of them. So, there can be a timing issue on their capital spend. In normal times, they try to -- a lot of them would try to spend their capital up in the fourth quarter and get it done as early as possible for planning. Right now, what we're seeing is a bit of trepidation, a bit of slowness in issuing POs. I expect this quarter to certainly be up and -- but not quite -- if I had to guess, Jim, not quite in line with historical norms. But there is some upside for us versus our midpoint. But given the Q3, there was some slippage at the end of the quarter into the following quarter. I just don't want us to get out ahead of ourselves. So, that's why you'd see a little bit of a wider range and a little bit more modesty, if you will, on the growth rate in Q4. So, we believe it will be up and up nicely for the quarter. But capex, inventory management are just unknowns, and we want a buffer for those. That makes sense? James Ricchiuti -- Analyst It's helpful. And maybe we could just turn to gross margins because the guidance for the year, I guess, 38%, 40%. Again, a little surprising given that your nine-month gross margin was 39.5%. Is this all a case of unfavorable absorption if the Q4 revenues come in at the low end of your implied guidance? Jeff Graves -- President and Chief Executive Officer Yeah, there's two factors, Jim. One of them is that, one of them is factory absorption. The other one really is mix because -- and I'm keeping my fingers crossed here, we should see an uptick in printer sales, and that's good for the long term from a materials utilization standpoint. I'm a little concerned that customers will be managing inventory on materials, and it's an unknown. So, you could see a mix effect, and you certainly will still see a factory utilization effect. So, I'd say there's two factors in that. And both of them lead to a little modestly on the gross margin for the quarter. Nicely, the in-sourcing work we've done, I think, will pay real dividends for us from a printer manufacturing standpoint as volumes rise again, hopefully in '25. But for right now, it's -- any uptick in printer sales in Q4 would be a drag on gross margins. James Ricchiuti -- Analyst Got it. Thank you. Jeff Graves -- President and Chief Executive Officer Thanks, Jim. Have a good Thanksgiving. Operator Thank you. Next question is coming from Greg Palm from Craig-Hallum. Your line is now live. Jeff Graves -- President and Chief Executive Officer Good morning, Greg. Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst Yeah, thanks. Hey, guys. This is Danny Eggerichs on for Greg today. Thanks for taking my questions. Jeff Graves -- President and Chief Executive Officer Hey, Danny. Sure. Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst I know you kind of said you're not going to touch on '25 yet, but just thinking about maybe profitability, I know in the release, maybe some commentary, it was like trajectory toward profitability in quarters ahead. Are we thinking about it as something that can be a '25 event? Or is it just kind of too early to tell? How should we be thinking about breakeven into profitability? Jeff Graves -- President and Chief Executive Officer Yeah, Danny. It's the art of prediction. So, I'm very encouraged by the number of new application customers are talking about. If they put real capital behind that, we could see a nice lift in revenues in '25. It's a question of how quickly will they spend the money for it. Nicely, I have no doubt these applications are things they really want to put in their factories. That's a good thing. It's a timing issue. So, we're hopeful revenues will be rising in '25, which will be helpful. Factory utilizations then improve. The inventory reduction plan we have will be great for cash. So, those are all positive factors. And we have -- I'll be candid with you, we have real opportunities for cost management, which I think will really help in '25. So, I can't give you a number, but I think you'll see significant movement in '25. If those things come to pass, you'll see significant movement in '25 toward profitability. And hopefully, at some point during the year, you'd see a swing to positive EBITDA and growth from there. So, it's just too early to tell, and we won't put out guidance until we get to our fourth quarter results. But I'm encouraged by the trends, and we'll see if they continue. Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst Yeah. That makes total sense. Maybe if we can just touch on the AIG, the application innovation group. You know, sounds like it was really strong in the quarter. Just maybe trying to size up that opportunity, maybe where contribution currently is and when the cycle eventually returns, how should we be thinking about that opportunity going forward? Jeff Graves -- President and Chief Executive Officer And, Danny, I would tell you the revenue we generate from AIG, so these are obviously -- their applications customers are paying for us to develop with them. So, there is a revenue stream there. The important thing about that is the trend of the revenue stream. So, if it's growing, it's not -- it may not be a material -- actually, it may not be a material number on the overall P&L. But if it's growing, then customers are demanding more and more of our time to develop new applications. And we're picking and choosing those very carefully to make sure they're the highest volume, highest value components that we can help them develop for their factories. So, I would tell you the magnitude of revenue is not really important. It's the direction that it's headed in that 26 -- I think we quoted a 26% rise is fabulous. I mean our guys are swamped. And we have -- we have 80-plus applications here is the biggest -- I believe it's the biggest in the industry. And, certainly, I'm very proud of, I think they're the best in the industry. And these new applications they're working on are tremendous. The amount of interest we have related to semiconductors broadly and data centers and things, all driven by, I believe, this overall AI investment in the use of AI. That, I think, is going to be a nice way for us and for anybody in this industry that's positioned for primarily in the metal side of the business. I think the ability to print basically heat sinks, heat conduction, capability is very, very positive. So, you could see some large applications flowing through in the future for those. And that goes all the way down to semiconductor equipment manufacturing. We can consolidate the number of parts in the machine. These are extremely expensive machines, as you might know. We can consolidate a number of parts. We can make them higher-performing parts, all by 3D printing them. And so, we've got all of the major semiconductor equipment manufacturers working with us. We have people that are using GPUs and data centers working with us. In fact, at Formnext, I wish I'd put this on a slide you would have seen a copper heat sync that was incredibly interesting. It's out on the website, I believe, but it was designed using AI, quite frankly, and it can conduct heat away 3x more efficiently than any other high-purity copper heat sync in the world. And so, we're tremendously excited about markets like that because they are very valuable high payoff components, which will help the whole supply chain. So, I quoted the AIG rise not because it's material impactful on the P&L, but because the trend is really positive in terms of customer interest in 3D printing. So, I can't really help you from a timing standpoint on revenue specifically, but the trend is very positive. Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst OK. That's great. Appreciate the color. Jeff Graves -- President and Chief Executive Officer OK. Stay warm, Danny. Have a good Thanksgiving. Operator Thank you. Our next question is coming from Troy Jensen from Cantor Fitzgerald. Your line is now live. Troy Jensen -- Analyst Hey, gentlemen. Thanks for taking my questions here. I guess, Jeff, one thing I picked up at Formnext that I thought was kind of new was a lot of positive talk about Oqton. You did mention it in your kind of prepaid remarks, but could you just kind of talk -- give us an update on software in general and 3DXpert? Jeff Graves -- President and Chief Executive Officer Yeah. Sure, Troy. And thanks for the call, and thanks for the interest at Formnext, too. Yes, you asked about two things there, and I'd throw in a third. So, our 3D Sprint software, which drives our polymer machines and 3DXpert on the metal side, tremendously valuable tools for people that want to apply 3D printing. And what we've done now with Oqton is basically integrate 3DXpert into the Oqton workflow. And we've really targeted and focused Oqton on the high-reliability markets like oil and gas we're doing with Baker Hughes and others. But that software platform, Troy will allow us to monitor the entire workflow, not us, but customers that like the entire workflow from raw materials to fished part. And what we're seeing in the Baker Hughes production lines right now is a tremendous improvement in the productivity and quality of parts they can get out. The real-time monitoring, the feedback control, the traceability required. So, it impacts everything from setup time to the time of part is produced, and it gives you full traceability to the part when it's finished. So, you make -- we're making 3D printing a true production process with this. Interesting feedback from Baker Hughes as also a customer of the software was this industry is now starting to really think about how to use 3D printing and production, whereas before it mainly went into laboratories for prototyping and even demo parts. Now, it's being used in -- on the factory floor. Those requirements are so different and so much more rigorous in terms of monitoring the job, monitoring the actual production of the part. So, I'm really pleased with Oqton's progress. I think we'll demo very nicely with Baker Hughes and then we're rolling it out broadly to other primarily industrial applications that have to make high reliability parts. So, energy, aero, certainly, the medical markets, anybody that has to make a high reliability parts at high productivity. Troy Jensen -- Analyst OK. How about two other questions here. Did you have a 10% customer in the quarter? Jeff Graves -- President and Chief Executive Officer We do. Jeff -- I have to -- yeah, I'm sure -- I don't have the number in front of me, Troy, but it would be in our queue, I believe, Jeff, right? So, it's in our queue and certainly, it will be related to dental, Troy, as it has been historically true. So, that's -- that relationship remains very strong. The indirect printing aligners is a great way to make them, and we continue to be a key supplier in that market. So, yes, I mean -- and I don't have a number Troy, but it's in the queue, and we can certainly get back to you. Troy Jensen -- Analyst Yep. I'm just glad to hear they're back. But -- and then just last question, regenerative business. Can you just talk about when you expect to hit the next milestones? Jeff Graves -- President and Chief Executive Officer Yeah, Troy. I think we'll see some additional milestones in '25. I wish we could talk more about it. The -- both the precision and the speed at which we can print extremely fine structure now is amazing. We have multiple paths to the design of those printers for production applications for organs in the human body, specifically lungs. So, I am really pleased with progress on the technology and the implementation of that for lung manufacturing. So, you can expect we'll be talking about milestones in 2025 that we're hitting. And I continue to believe we're on track to be in a position to get the human demonstration on a reasonable timeline. United Therapeutics, our partner in this, we'll have to speak to that milestone. But in terms of the printing technology and things and the materials that go with it, extremely pleased with progress. And, Troy, just one more -- one more advertisement for that. It's really cool applications that are going to bring a lot of benefit to humanity. It's also generating some great technology that we can transition into our industrial printers. For example, the PSLA with this high-precision projection system over Vat, that's a direct outgrowth of our work on regenerative. So, if you take a hardened projector that's used for industrial applications for workflow. It's a direct transfer and a drop-in. So, you'll see some real technology synergy coming out of our work on regenerative into our industrial markets. Troy Jensen -- Analyst Awesome. All right, guys. Good luck going forward. Happy Thanksgiving. Jeff Graves -- President and Chief Executive Officer Thanks, Troy. Happy Thanksgiving to you too, bud. Operator Thank you. Next question today is coming from Ananda Baruah from Loop Capital Markets. Your line is now live. Jeff Graves -- President and Chief Executive Officer Good morning, Ananda. Ananda Baruah -- Analyst Good morning. Good morning. Yes, thanks for taking the question. Happy Thanksgiving. Yes, I appreciate you guys taking the question here. I guess a couple, if I could. The first is on just sort of the core healthcare business and industrial solutions sort of taking the backwards sort of the softer sellout notwithstanding, you guys do seem like the last three quarters, you kind of baselined at this high 50s, low 60s run rate. And in healthcare, you've picked up both because of the dental business and then also here's kind of a question, is there anything in personalized healthcare as the state from dental that we should be aware of? And so, really, with that as a backdrop and sort of the supplies business continuing to grow, what does the baseline business look like into '25, understanding, yes, you're not giving guidance yet. But in industrial solutions as baseline right now and as you're seeing a pickup in healthcare, and if you're also seeing a pickup in ongoing growth in supplies, what does that say structurally about going into '25? Jeff Graves -- President and Chief Executive Officer Yeah. Yes. So, on that, I'll start with the last point, Ananda. Yeah, all of that would lead you to say, look, '25 should be a better year. As long as I think the whole world feels a bit snakebit -- as long as the geopolitical climate calms down and the economies continue moving in the direction they are, the unknown is that we have a change in administrations in not only in the U.S., but potentially other countries and these wars tend to flare up periodically. So, all of that said, which are unknowns, the trends are moving in the right direction in terms of both printer platform sales and consumable sales over the future. So, hopefully, we'll be sitting here when we announced Q4 results, we'll talk about a stronger '25. And also, I think we've got some real cost opportunities, quite frankly. So, we've made -- we've been consistent in our investments in R&D. Those are paying dividends now. And we've got some flexibility going into '25 to really manage our cost structure in a more optimum way. So, I think there's some real opportunities within the four walls and then also in the external environment. In terms of healthcare, Ananda it's a great business. The orthopedic business, as I call it, the work we do for surgical planning on bone repair and surgeries is terrific. We continue to gain FDA approvals for other areas of the body. We're very strong in everything above the neck fundamentally and on the spine. We're continuing to grow throughout the body elsewhere, and it's a clear strategy. We're going to expand those applications below the neck just as quickly as we can develop them because all the same basic tools apply. So, I can -- I expect to continue to see growth or may be noise quarter to quarter. We continue to see growth in that business, and it's a very good business. very hard for others to get into unless it takes time. So, I think that's a great business. The dental business -- we've got a good foundation with indirect aligners. And I think you'll see a lot of new products hit the market. And I mentioned dentures on the call, great business. I think 3D printing is a natural for those, and we have a great offering. So, I'm excited about '25 for dentures -- funny as that sounds. And then you've got other dental applications, night guards, and others. So, I love the healthcare business. It continues to be a core focus of the company. On the industrial side, these high-reliability markets were swamped with interest on new applications from customers. And I would hope '25 would see them start spending some real capital money in those directions because the payoff is clear. So -- and that gets back to the world economy and their factory utilization. So, hopefully, in all of that, I answered your questions. If I can clarify anything, I'm happy to do it, Ananda. Ananda Baruah -- Analyst No, that's really great. And just a quick follow-up on tariffs. Anything to be aware of in the tariffs that have been announced so far or supposed to be announced? Jeff Graves -- President and Chief Executive Officer You know, Ananda -- yeah. It's very interesting, and this is all public. If you look at the tariffs that have been talked about and particularly with respect to China, the Chinese metal printing companies have sprung up over the years and, I think, aim toward Chinese markets and others. They're increasingly looking to export those products into the U.S. And a lot of the U.S. applications are defense-oriented. So, I think both the tariff situation and the focus on defense will help us as a U.S. company. I think that's -- it's a great thing because the influx of those printers, and I've shared this information, it's all publicly available, has been high. And I would hope as onshoring and supply chain shortening effects take hold, if we do see tariffs coming in and certainly the growth in defense and aerospace, those are all positives for us as a U.S. company. Ananda Baruah -- Analyst Super helpful. Thanks a lot. Have a great holiday, you guys. Jeff Graves -- President and Chief Executive Officer Thanks, Ananda. You have a great Thanksgiving as well. Operator Thank you. [Operator instructions] Our next question is coming from Brian Drab from William Blair. Your line is now live. Tyler Hutin -- William Blair and Company -- Analyst Good morning. Tyler here filling in for Brian. It was great color on the data center equipment. It sounds like additive would be great for the gold plates that go on GPUs and the other data center infrastructure, but I only have two questions today. First, what are your plans for convertible debt coming due in 2026? And then second, you mentioned a target of mid-40s gross margin. What revenue rate would need to be to support those levels, assuming that on historically similar revenue levels going forward, you'd probably do higher margin just driven by the in-sourcing efforts? If you could just elaborate on that situation. I appreciate the time, and happy Thanksgiving. Jeff Graves -- President and Chief Executive Officer Thanks so much for the question, and Happy Thanksgiving to you as well. So, you touched on the key points. It's -- the factory, basically, our gross margins, if you look at COGS, our factory -- that's going to be a direct outgrowth of factory volumes and the increased benefit from in-sourcing. So, clearly, as volumes rise, it's a good thing for factory utilization rates. And the other benefit that brings us is a lower propensity to write down inventory. We absorbed -- the reality is we absorbed a lot of inventory when we insourced manufacturing aggressively over the last two years. And I would tell you, for everybody listening on this call, I think it's a tremendous move for a low-volume, high-mix company like ours in this industry taking full control over your product from the start-up design to the time you ship and install to a customer is critically important in controlling the pace of new product introduction and the quality of the product you ship. I firmly believe that. So, we spent great effort in sourcing. And unfortunately, with that, we had to absorb a lot of inventory from our contract manufacturing partners that they had purchased, and we're working that inventory down. We'll bring it down 20% this year from a starting point, we'll continue to do that. Unfortunately, if volumes stay low in the plant, you're more exposed to inventory write-offs due to just aging of the parks. They don't go bad, but they age out according to your policy. So, we have some headwinds on the last two quarters from that. Hopefully, as volumes pick up, that effect that kind of over-the-top effect will go away, and you'll see improvements in factory utilization. So, both of those will really help gross margin significantly. And then on top of that, we're rolling out new materials all the time. So, new consumables we're also really driving services because the customers that have factories want great service. So, the increase in services revenue, the increase in materials revenue will all support higher gross margins. So, fundamentally, those are the levers. And I have no doubt we can get to mid-40s. That's our near-term goal. We have a long-term goal of getting over 50, which given the growth in metals in the world right now and the relatively lower materials pull-through on metals, that's a challenge. And -- but we're getting there. We're headed that direction. And I have confidence over the long term, we will get there. And then eventually, metals -- some of the metal materials will probably evolve to match 3D printing as well. But for now, there's not a lot of materials pull-through from our standpoint on the metal side. So, it is a drag on the overall gross margin. But we're getting there. It's improving. And I'm thrilled to have both metals and polymers in our portfolio. Some of the most exciting applications we're seeing on the industrial side are hard core metal applications with difficult materials like copper, which are hard to print. So, long-winded way of saying those are the elements that get us to mid-40s and then up to 50%, which is our ultimate goal. Tyler Hutin -- William Blair and Company -- Analyst Thank you, Jeff. That's great color. I just wanted to follow up. Do you have -- on the plans for the convertible debt coming due in 2026, just any color you can provide there. Jeff Graves -- President and Chief Executive Officer Yeah. It's certainly a work in progress, I would tell you right now. I mean, that's been a lovely debt instrument for us. We obviously went to market at a great time, and it's a zero coupon piece of paper. It's been terrific for us. It will come to at some point, we've got to deal with that. And so, we're looking at -- how do we do that with the most traditional methods we can, OK? So, we're looking at how we can really reduce that debt. I'm not in a position to talk about it today. But clearly, we want to deal with it as early as possible and not get into -- get toward maturity dates. So, you'll hear a lot more about that in '25, OK? Tyler Hutin -- William Blair and Company -- Analyst All right. Sounds good. Looking forward to 2025 for you guys, and have a happy Thanksgiving again. Jeff Graves -- President and Chief Executive Officer Thank you. And happy Thanksgiving to you and Brian as well, OK? Operator Thank you. Next question is coming from Jacob Stephan from Lake Street Capital Markets. Your line is now live. Jacob Stephan -- Lake Street Capital Markets -- Analyst Hey, good morning, guys. Thanks for taking my questions. Just curious on the healthcare business. Obviously, nice to see that return to growth this quarter. But maybe just kind of give us a sense on the order patterns now that we're kind of two-thirds of the way through Q4, I mean do you feel like kind of the revenue level where you guys were at in Q3 year's a good, I guess, a place to build off of? Or do you expect to see stability here? Jeff Graves -- President and Chief Executive Officer Yeah. Yeah. So, good morning, Jacob, and a happy Thanksgiving to you coming up. Thanks for calling today. Yes, I think that's -- this is the foundation to build from. It's -- healthcare is -- on the orthopedic side of our business, of the healthcare business, it's a good, steady business. And the nice thing for us, we're doing two things to grow that business. Number one is developing more applications below the neck -- for the skeleton below the neck, and it's really a great business. It continues to grow nicely, steadily over time. We work closely with the FDA to get certifications on those, and it's a great business. We are moving with our partners -- our channel partners into the trauma field in that, which I'm really excited about. Obviously, it's tragic when someone comes to an emergency physician with trauma into the skeleton. And our technology can apply there. It challenges us on speed because those people need very fast treatment. But it's a lovely growth area for our business, so I like that. And we've been stronger in the U.S. than Europe on -- in that personalized health service. So, Europe remains a strong focus as well and in fact, some other parts of the world. But -- so, I look at all the growth factors. I like the foundation of the business today. It's a terrific business, a strong brand, very happy. I see it growing from here. The dental business, obviously, a little bit more volatile. We've been very primary in indirect printing of aligners, and we're diversifying that portfolio now as we move into dentures and elsewhere. So, a little bit more volatility as those markets rise and fall. But the diversification of the portfolio will really help in dental over time, and you'll see that over the next two years. So, again, expect quarter-to-quarter noise like any business, but by and large, that healthcare business in total is going to continue to grow for us, and we're thrilled with it. It's a terrific business to be in. Jacob Stephan -- Lake Street Capital Markets -- Analyst Got it. And then maybe just kind of on the -- I guess, in-sourcing initiative, requiring more inventory to be repurchased back from your contract manufacturers. I'm just curious, I guess, what percentage of that kind of inventory surplus was repurchased from the contract manufacturers and maybe any kind of -- Jeff Graves -- President and Chief Executive Officer Oh, gosh. Yeah, Jacob. We had to buy -- and I don't have a real number for you, but we had to buy, I think, Jeff, well over $100 million of inventory. We had to bring back in-house. I wasn't -- I'll be frank with you, Jacob. I was not pleased, and I'm not blaming them. We were a small customer to these very large-contract manufacturers. I was not pleased with their inventory management, their supply chain management and the quality of the product they were shipping on our behalf and the speed at which you could introduce a new product. So, those four things drove us to insource, OK? And we're headquartered in South Carolina, it's a lovely place to build product. We've insourced 80%, 90% of our business now, largely in South Carolina. We do some manufacturing in Europe as well. But as a part of that whole taking it back in, we needed to buy the good inventory that they had purchased on our behalf. So, it created a small mountain -- not Mount Everest -- but a small mountain of inventory that we've been burning down. So, we'll continue to work away at that. It's all good stuff, but in good parts, but we just got to continue to work it down, and it's been difficult in a low sales environment. That's been challenging. So, I'm proud of the 20% reduction we'll attain by the end of the year, but we've got more to go. And on the bright side, when you do it, it's a good source of cash. It frees up cash. But it has -- we've been able to make the investment because we had a lot of cash on the balance sheet. So, we did that at a time where we could afford it. And as we work it down, we'll realize the benefit from a cash and from a gross margin standpoint on COGS. Jacob Stephan -- Lake Street Capital Markets -- Analyst Got it. Very helpful. I appreciate all the color. Happy Thanksgiving, and looking forward to '25 for you guys. Jeff Graves -- President and Chief Executive Officer We are, too. Thanks so much for calling in. Operator Thank you. We've reached the end of our question-and-answer session. I'd like to turn the floor back over to Jeff for any further closing comments. Jeff Graves -- President and Chief Executive Officer Hey, Kevin. First of all, I want to wish you a very happy Thanksgiving as well. You've been terrific at moderating our calls for many, many quarters now. So, thank you for that. And for everybody else that's tuned in, I want to thank you all for joining our call today. For those in the U.S., I wish you all a happy and safe Thanksgiving holiday with your families. For those outside of the U.S., I wish you a very happy holiday season coming up. We'll look forward to talking to you again at least in the New Year. Operator [Operator signoff] Duration: 0 minutes Call participants: Mike McCloskey -- Vice President, Investor Relations Jeff Graves -- President and Chief Executive Officer Jeff Creech -- Executive Vice President, Chief Financial Officer James Ricchiuti -- Analyst Jim Ricchiuti -- Analyst Danny Eggerichs -- Craig-Hallum Capital Group -- Analyst Troy Jensen -- Analyst Ananda Baruah -- Analyst Tyler Hutin -- William Blair and Company -- Analyst Jacob Stephan -- Lake Street Capital Markets -- Analyst More DDD analysis All earnings call transcriptsRomania’s telecoms regulator is asking for TikTok to be suspended as the country’s defence council prepares to discuss cyber risks to its elections, after a little-known ultranationalist came from nowhere to win the first round of the presidential vote. The country’s constitutional court will also examine two allegations of electoral fraud after Călin Georgescu, a Moscow-friendly, EU-sceptic and anti-Nato independent, topped the ballot in a result that upended Romanian politics. Georgescu was polling at barely 5% days before Sunday’s vote but surged to a shock victory with a campaign heavily based on viral TikTok videos that were reportedly boosted by bot-like activity, raising fears of possible external interference. The far-right candidate, who has claimed Nato would never help Romania and called for an end to the war in Ukraine, scored almost 23% and will face pro-EU centrist Elena Lasconi in the second round on 8 December after parliamentary elections on Sunday. Georgescu, a sustainable development expert, has also denied the existence of Covid-19, described two second world war-era Romanian fascists as “national heroes” and claimed that in foreign affairs Romania would benefit from “Russian wisdom”. The deputy head of the country’s telecoms regulator, Ancom, said on Wednesday it was calling for the suspension of TikTok, a China-owned platform, from Thursday, pending an investigation into possible election manipulation, profit.ro reported . “I request the suspension of TikTok on the territory of Romania until the completion of the investigation by state institutions regarding the manipulation of the electoral process of the first round of the presidential elections,” Pavel Popescu said. He added that he was asking for the suspension “on the basis of ... some evidence regarding the manipulation of the electoral process by the platform.” The national defence council, chaired by the outgoing president, Klaus Iohannis, said it would analyse “possible risks to national security generated by the actions of state and non-state cyber actors on infrastructures supporting the electoral process”. The country’s national audiovisual council, CNA, has also called on the European Commission to investigate TikTok’s role, saying it suspected “manipulation of public opinion” and “algorithmic amplification” of posts favouring a particular candidate. TikTok has dismissed the CNA’s allegations. A spokesperson said: “These reports are inaccurate and misleading, as most candidates have established a TikTok presence and the winners campaigned on other digital platforms beyond ours.” Sign up to Headlines Europe A digest of the morning's main headlines from the Europe edition emailed direct to you every week day after newsletter promotion Two candidates knocked out in the first round, Sebastian Popescu and Cristian Terheș, have further asked the country’s constitutional court to annul the first round result on the grounds that Georgescu did not declare any campaign funding sources. Georgescu, who left the far-right Alliance for the Union of Romanians (AUR) after it criticised his pro-Russia, anti-Nato stance, has not responded to the complaints but has previously said he had no campaign budget and all the work was done by volunteers. Romania has been a reliable EU and Nato ally since emerging from communism in 1989 and plays a strategic role in western support for Ukraine, hosting a military base , donating an air defence battery and providing a vital transit route for Ukrainian grain. In a Facebook post on Tuesday, Georgescu insisted he did not want Romania to leave Nato or the EU. “What I want, however, is to take a stance, not to kneel over there, not to take everything. Like I said, we should do everything in our national interest,” he said.

India's Adani Group conglomerate said Wednesday it had lost almost $55 billion in a stock market rout since US prosecutors last week accused its founder and other officials of fraud. The November 20 bombshell indictment in New York accused billionaire industrialist founder Gautam Adani and multiple subordinates of deliberately misleading international investors as part of a bribery scheme. It said they had "devised a scheme to offer, authorise, make and promise to make bribes payments to Indian government officials". The firm, which denies the charges, said in a statement on Wednesday: "Since the intimation of the US DoJ (Department of Justice) indictment, the group has suffered a loss of near $55 billion in its market capitalisation across its 11 listed companies." Gautam Adani, 62, is suspected of having participated in the $250 million scheme in bribes to secure lucrative government contracts. Adani Group issued a stiff denial, describing the charges as "baseless", but it triggered a heavy sell-off of Adani stocks in Mumbai last week, with multiple trading halts. A statement on Wednesday said Adani officials are "only charged" with securities fraud, wire fraud conspiracy and securities fraud. It denies all the charges. It said it was "incorrect" to say that either Gautam Adani or his nephew Sagar Adani had been charged with bribery or corruption. Stocks in Adani Enterprises surged after the statement, piling on more than 10 percent in Mumbai, as did Adani Green, its renewable energy arm. Adani is a close ally of Hindu nationalist Prime Minister Narendra Modi and was at one point the world's second-richest man, and critics have long accused him of improperly benefitting from their relationship. The group said the action had led to "significant repercussions", including "international project cancellations, financial market impact and sudden examination from strategic partners, investors and the public". That included in Kenya, where President William Ruto said the Adani Group would no longer be involved in plans to expand the East African country's electricity network and its main airport. The Adani Group was to invest $1.85 billion in Jomo Kenyatta airport and $736 million in state-owned utility KETRACO. Sri Lanka has opened an investigation into the local investments of the group, including a $442 million wind power deal and an Adani-led deep-sea port terminal in Colombo, which is estimated to cost more than $700 million. With a business empire spanning coal, airports, cement and media, Adani Group has weathered previous corporate fraud allegations and suffered a similar stock rout last year. The conglomerate saw $150 billion wiped from its market value in 2023 after a report by short-seller Hindenburg Research accused it of "brazen" corporate fraud. Adani denied Hindenburg's allegations and called its report a "deliberate attempt" to damage its image for the benefit of short-sellers. Adani Group's rapid expansion into capital-intensive businesses has raised alarms in the past, with Fitch subsidiary and market researcher CreditSights in 2022 warning it was "deeply over-leveraged". Adani, who was born to a middle-class family in Ahmedabad, Gujarat state, dropped out of school at 16 and moved to Mumbai to find work in the financial capital's lucrative gem trade. After a short stint in his brother's plastics business, he launched the flagship family conglomerate that bears his name in 1988 by branching out into the export trade.Texans WR Nico Collins says he was fined for tossing TD ball to kidQuestions over Hezbollah's future after ceasefire

And single people are more likely to use mobility tools compared to those who are married, according to researchers from University College London (UCL) and the London School of Hygiene and Tropical Medicine (LSHTM). Researchers looked at information from a group of more than 12,000 adults in England aged 50 to 89 who were tracked over a 13-year period. At the start of the study, 8,225 adults had no mobility difficulty and did not use mobility assistive products (MAPs). Some 2,480 were deemed to have “unmet need” and 1,375 were using mobility aids. During the follow-up period, there were 2,313 “transitions” where people went from having no mobility issues to needing some help with getting around. And 1,274 people started to use mobility aids. Compared with men, women were 49% more likely to transition from not needing mobility aids to needing to use them, according to the study which has been published in The Lancet Public Health. But were 21% less likely to go on to use mobility aids when they needed them. The authors said their study showed “barriers to access” for women. For both men and women, with every year that passed during the study period the need for mobility aids increased. People who were older, less educated, less wealthy or reported being disabled were more likely to “transition from no need to unmet need, and from unmet need to use”, the authors said, with this indicating a “higher prevalence of mobility limitations and MAP need overall among these groups”. They added: “Finally, marital or partnership status was not associated with transitioning to unmet need; however, single people were more likely to transition from unmet need to use compared with married or partnered people.” Jamie Danemayer, first author of the study from UCL Computer Science and UCL’s Global Disability Innovation Hub, said: “Our analysis suggests that there is a clear gender gap in access to mobility aids. “Though our data didn’t ascertain the reason why participants weren’t using mobility aids, other research tells us that women are often more likely than men to face obstacles such as cost barriers as a result of well-documented income disparities between genders. “Many mobility aids are designed for men rather than women, which we think may be a factor. “Using mobility aids can also make a disability visible, which can impact the safety and stigma experienced by women, in particular. “There’s a critical need for further research to identify and break down the barriers preventing women from accessing mobility aids that would improve their quality of life.” Professor Cathy Holloway, also from UCL, added: “Not having access to mobility aids when a person needs one can have a big impact on their independence, well-being and quality of life. “Our analysis suggests that women, in particular, regardless of other factors such as education and employment status, are not getting the support that they need.” Professor Shereen Hussein, senior author of the study and lead of the social care group at the London School of Hygiene & Tropical Medicine, said: “The research provides compelling evidence of gender disparities in accessing assistive technology, suggesting that cost, design bias, and social stigma are likely to disproportionally affect women. “This underscores the need for inclusive, gender-sensitive approaches in the design, production and inclusivity of assistive technologies.”Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info Former The Traitors contestant Charlotte Chilton has shared that her newborn daughter Penelope is dealing with "tummy issues," just six weeks after her birth. The 33 year old reality star, who appeared on the second series of the BBC show earlier this year, introduced her little one to the world this week exclusively with OK!. The reality star has claimed that singer Conor Maynard, 32 , is the father of her child, but alleges he's not currently involved, leaving her to parent solo with the help of her family and friends. Keeping her followers in the loop about her journey into motherhood since Penelope's arrival, she posted a snap on her Instagram Story on Tuesday afternoon where she was seen cuddling the sleeping newborn. Alongside the picture, Charlotte revealed her baby's "tummy issues," without going into further detail, writing: "Penelope has tummy issues which hopefully we can get sorted ... mummy cuddles fix all things." This update comes after the mum-of-one opened up to OK! about how becoming a mum has transformed her life. In the interview, she gushed: "It's incredible how it changes your life.! Speaking about her daughter, she confessed: "When I'm not with her, I feel like my arm has been chopped off. It's a huge adjustment, but I'm so in love." However, becoming a mother for the first time has also come with it's challenges for Charlotte. “I hated being pregnant,” she told us, as she effortlessly clutches a mug of tea in one hand and little Penelope in the other. “I loved the baby inside me, but everything else was s**t. I remember thinking, ‘This is vile. Women lie to women and say, It’s magical. There’s nothing magical about this.’ I was really, really negative, but I did have SPD [Symphysis Pubis Dysfunction, which causes severe pelvic pain during pregnancy], gestational diabetes, I had an allergy to my hormones. "I had everything, so I was constantly in and out of the hospital. I couldn’t do much for myself. I had to stop working for the last three months. And I didn’t have a baby daddy there to help. It was really hard.” Last month, Charlotte announced the arrival of Penelope on social media, sharing a black-and-white snap of the baby's arms and revealing her name. She wrote: "Princess Penelope has arrived and we have been enjoying our 'Penelope bubble' so much,I am going to be off the radar for a little longer, whilst I enjoy these magical moments with my precious girl! ! Thank you to all that have checked in to make sure I am ok! ! My heart is full." Charlotte first came into the limelight earlier this year when she appeared as one of the Faithfuls on the Traitors, telling the Mirror previously that she wanted to "push her boundaries" by participating in the show. She made it more than halfway through the series before being voted off by her co-stars.Women more likely to need walking aids but less likely to use them – study

Trump Endorses Dockworkers' Stance Against AutomationRaiders will start O'Connell at quarterback when they visit the ChiefsOTTAWA - NDP Leader Jagmeet Singh says his party will not support a Liberal plan to give Canadians a GST holiday and $250 unless the government expands eligibility for the cheques, saying the rebate leaves out “the most vulnerable.” The Liberals announced a plan last week to cut the federal sales tax on a raft of items like toys and restaurant meals for two months, and to give $250 to more than 18.7 million Canadians in the spring. Speaking after a Canadian Labour Congress event in Ottawa, Singh says he’s open to passing the GST legislation, but the rebate needs to include seniors, students, people who are on disability benefits and those who were not able to work last year. Singh says he initially supported the idea because he thought the rebate cheques would go to anyone who earned under $150,000 last year. But the so-called working Canadians rebate will be sent to those who had an income, leaving out people Singh says need the help. The government intends to include the measures in the fall economic statement, which has not yet been introduced in the House of Commons. The proposed GST holiday would begin in mid-December, lasting for two months. It would remove the GST on prepared foods at grocery stores, some alcoholic drinks, children’s clothes and toys, Christmas trees, restaurant meals, books, video games and physical newspapers. A privilege debate has held up all government business in the House since late September, with the Conservatives pledging to continue a filibuster until the government hands over unredacted documents related to misspending at a green technology fund. The NDP said last week they had agreed to pause the privilege debate in order to pass the legislation to usher in the GST holiday. Singh said Tuesday that unless there are changes to the proposed legislation, he will not support pausing the debate. The Bloc Québécois is also pushing for the rebates to be sent to seniors and retirees. This report by The Canadian Press was first published Nov. 26, 2024.Travis County DA José Garza removal suit dismissed

Manchester United criticised over ‘offensive’ price increase for match tickets

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Hospitals move to defend drug discount program that pharmaceutical industry says is rife with abuseA jury in a Bendigo court case examining claims of historic sexual abuse has been discharged after failing to reach a verdict. or signup to continue reading After almost three days of deliberation, the jury was unable to reach a unanimous verdict and was discharged from the sitting in Bendigo on the afternoon of December 11. The jury was deliberating over accusations of historic sexual abuse involving two sisters in February 2007 at a central Victorian home. The older sister has pleaded not guilty to three charges of an indecent act with a child under 16 and two charges of sexual penetration of a child under 16. In , the court heard the older sister allegedly engaged in a sexual act with her younger sister in February 2007 in the older sister's bedroom. At the time of the alleged offending, the older sister was aged around 16-17, while the younger sister was aged around 10-11. The older sister's legal defence was the younger sister had mistakenly confused the alleged offending with a sexual act between them around five years earlier. On Friday, the prosecution suggested the older sister was lying and said the younger sister had given a "clear and consistent" account of the alleged offending. The jury was retired for deliberation around midday on Monday, December 9, following an address by the judge. For a guilty verdict, the jury must find the defendant guilty beyond reasonable doubt. The court was recalled around midday on December 11 so the judge could answer a query by the jury, which requested clarification of the term 'reasonable doubt'. The case has now been adjourned to the County Court circuit in Bendigo starting January 20, 2025. Brodie Everist is a Bendigo-based journalist who joined the Bendigo Advertiser in 2024 after covering news in North East Victoria for two years. Reach out with news or updates to brodie.everist@austcommunitymedia.com.au Brodie Everist is a Bendigo-based journalist who joined the Bendigo Advertiser in 2024 after covering news in North East Victoria for two years. Reach out with news or updates to brodie.everist@austcommunitymedia.com.au DAILY Today's top stories curated by our news team. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Get the editor's insights: what's happening & why it matters. WEEKLY Love footy? We've got all the action covered. WEEKLY Every Saturday and Tuesday, explore destinations deals, tips & travel writing to transport you around the globe. WEEKLY Going out or staying in? Find out what's on. WEEKDAYS Sharp. Close to the ground. Digging deep. Your weekday morning newsletter on national affairs, politics and more. TWICE WEEKLY Your essential national news digest: all the big issues on Wednesday and great reading every Saturday. WEEKLY Get news, reviews and expert insights every Thursday from CarExpert, ACM's exclusive motoring partner. TWICE WEEKLY Get real, Australia! Let the ACM network's editors and journalists bring you news and views from all over. AS IT HAPPENS Be the first to know when news breaks. DAILY Your digital replica of Today's Paper. Ready to read from 5am! DAILY Test your skills with interactive crosswords, sudoku & trivia. Fresh daily!

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In light of Sri Lanka’s pressing economic challenges, the Ceylon Institute of Builders (CIOB) and the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) have jointly called for immediate regulatory reforms to stabilise and revitalise the construction industry. In a comprehensive statement, CIOB Vice President and FCCISL Public Relations Committee Director and Chairman P.H. Ruwan De Silva outlined the critical steps necessary to safeguard the industry and support economic recovery across the nation. The construction sector, traditionally contributing between 7% and 9% to the national GDP, has seen a drastic decline, shrinking to below 2% post-pandemic. This alarming contraction highlights the sector’s struggle to overcome unprecedented challenges posed by pandemic-induced economic disruptions, inflation, soaring interest rates, and contract disputes. “The resilience of Sri Lanka’s construction industry entrepreneurs and business community is facing unprecedented challenges,” said Ruwan De Silva. “Contractors, particularly large and medium-scale, are navigating significant financial pressures due to rising material costs, outdated pricing structures, and a slowdown in new project opportunities.” He emphasised the need for timely, Government-led interventions to stabilise cash flow, mitigate financial risks, and provide support for ongoing projects, already resumed suspended projects and to restart many of them which were paused or delayed due to the pandemic and economic crisis. For over more than four decades, previous regimes have failed to address outdated, obsolete, and outmoded rules, regulations, and policies within the construction industry as well as other sectors. This lack of action has hindered the industry’s ability to transition into modern, innovative, and constructive technologies that would increase productivity and competitiveness. Despite continuous advocacy and calls for reform by the Ceylon Institute of Builders, Federation of Chambers of Commerce and Industry, National Construction Association of Sri Lanka, other industry associations, and institutions meaningful changes have yet to be implemented. The key fiscal policy response during the pandemic and the subsequent economic crisis has not adequately addressed the pressing issues in the construction industry due to economic crisis. Additionally, there has been a lack of proper attention from both the Sri Lankan Government and global funding agencies. This has left the construction sector in a state of uncertainty and desperation, further amplifying the struggles faced by contractors, consultants, other related industries and sectors. In navigating the financial and operational challenges caused by these unprecedented crises. Outdated and old-fashioned rules, regulations, and lengthy recommendation and approval processes have left public sector employees trapped, entrenched, and bound within inefficient systems. This severely impacts effective public service delivery, leading to widespread disappointment, distrust, and distress among the public and discouraging the private sector business community specially succession planning for next generation taking up leadership as directors, CEOs and other senior and middle level managers. As public service efficiency falters, the private sector also suffers, heightening the overall economic distress and eroding trust in governance. The integration of entrepreneurial culture and innovative business models into public service is crucial. Digitalisation, automation, AI and Machine Learning should be prioritised to streamline processes, making them faster, more transparent, and less prone to bureaucratic delays. In comparison to other regional and international markets, Sri Lankan entrepreneurs and startups remain marginal. Public sector employees have a significant role in supporting and empowering emerging entrepreneurs, fostering an environment that increases scale, volumes and capacities within the entrepreneurial sector. A strategic focus on supporting business community startups and entrepreneurial initiatives can help drive growth and resilience within the economy. To foster resilience and recovery in the current economic landscape, it is crucial that the working attitudes and mindset within Sri Lanka’s private sector evolve toward greater alignment with the needs of companies and entrepreneurs affected by multiple crises and financial strain. Employees across the business community must recognise the importance of their roles in supporting affected businesses. By demonstrating dedication, loyalty, and efficiency, employees can actively contribute to the revitalisation of their organisations. This transformative approach involves adopting innovative ideas, focusing on problem-solving skills, authority of power for making quick decisions striving for enhanced productivity, efficiency through improved work flows and processes. A commitment to a “zero waste” and “zero idling” culture should become an ingrained mindset, helping companies minimise unnecessary costs and maximise output. In addition, there is an urgent need for private sector employees to engage in continuous self-learning through free online resources, digital platforms, and social media channels. By embracing advancements in constructive technology, innovation, and digital transformation, employees can improve their skills, increase productivity, and drive meaningful progress within their organisations. This proactive approach to reskilling and up skilling ensures that both employees and companies are well-positioned to meet the challenges of a rapidly evolving economic environment. Sri Lanka’s labour market is undergoing a transformative shift, driven by emerging trends across multiple generations, particularly Generation Z, whose preferences and work styles are reshaping the employment landscape. Younger generations tend to prioritise flexibility, digital proficiency, and opportunities for continuous learning. Their adaptability to technological change and digital tools is critical to achieving productivity gains and fostering innovation across sectors. Gen Z and other younger workers have demonstrated a strong interest in entrepreneurial ventures, often preferring roles that offer autonomy, purpose, and growth potential. To fully leverage these qualities, it is essential for the public and private sectors to create work environments that attract and retain young talent, aligning with their values and aspirations. These generational trends contribute significantly to economic growth, as younger workers often bring fresh perspectives, digital expertise, and innovative approaches that can drive efficiency and modernisation across industries. By supporting employment policies that foster inclusivity, up skilling and reskilling across all generations, Sri Lanka can enhance workforce productivity and position itself to compete effectively on a global scale. Public sector reforms and targeted investments in technology, training, and mentorship will be crucial to harnessing this generational potential and building a resilient, future-ready workforce. The economic and financial stability of the entire construction ecosystem has been severely eroded over the past five years, leading to an acute working capital across all industry entities, including architects, engineers, consultants, manufacturers, suppliers, subcontractors, traders, logistics providers, and importers, exporters, service and utility providers. This deterioration presents a formidable challenge for the current and future outlook of the industry, as these businesses face the loss of critical financial, machine/equipment and human capital. Recovering and rebuilding business capacities will be an ongoing battle, with many companies grappling with financial distress and operational setbacks daily as they strive to sustain their business activities while maintaining business relationships, credit, loans, operations and statutory obligations. In a bankrupt economy, both the private and public sectors are facing unprecedented challenges and distress. Now, more than ever, it is essential to set aside party politics, political rivalries and work collaboratively to emerge as a united nation. A leading productive, proactive, and positive working culture is needed across all sectors, where individuals step up to make decisions without passing on responsibilities or delaying actions. Only by extending a helping hand to one another, irrespective of position or status, Sri Lanka can overcome these challenges and pave the way towards recovery. The present Government faces a monumental challenge—not only in recovering the collapsed economy but also in restoring public trust, social security, safety, while building political stability, confidence among entrepreneurs, and investor assurance. These challenges are further compounded by the rising complexities of global trade wars, geopolitical tensions, emerging cold and hot conflicts, and increasing threats in cyber security. As global uncertainties mount, so do the challenges to national security, economic stability, and public trust in governance. The National People’s Power (NPP) policy declaration and manifesto has been proactively and systematically developed to address and outline the necessary reforms required for navigating Sri Lanka’s economic recovery. This roadmap provides a significant milestone for achieving the proposed strategic interventions, emphasising regulatory reform and targeted investment as cornerstones of a robust revival for both the construction industry and other key sectors. Entrepreneurs and the business community can be assured of the manifesto’s commitment more than ever before. By aligning with the NPP’s outlined vision, stakeholders across the construction industry, other industries, and the broader economy can advance toward a sustainable future with structured guidance on actionable and impactful changes. The CIOB and FCCISL stand ready to collaborate with policymakers, economists, Government officials, and legislators to advance these reforms. Together with President Anura Kumara Dissanayake’s Government and leadership CIOB and FCCISL aim to foster sustainable growth aligned with the NPP’s “Rich Country, Beautiful Life” vision. De Silva called upon the Government to engage with experienced entrepreneurs to lead these reforms and develop actionable, ground-level solutions to support the industries. “The time for action is now,” urged Ruwan De Silva. “We need regulatory reform that reflects the real conditions on the ground, offering immediate relief to contractors and business community creating a supportive environment for future growth.” Sri Lanka’s recovery depends on a paradigm shift in public service delivery, which includes transforming entrenched attitudes, traditional working cultures, outdated management styles, and cumbersome processes. These legacy systems have not only hindered swift responses to crises but have also eroded confidence among businesses, investors, and general public leading to widespread disappointment frustration and uncertainty in governance and public administration. For Sri Lanka to achieve a V-shaped recovery, the government must overcome years of economic erosion, business insolvencies, rising public mistrust, and wavering confidence in the nation’s governance and regulatory systems. “If past administrations had acted collaboratively for suggestions and proposals, the current dire situation within the construction industry could have been mitigated Ruwan De Silva asserted. “Our industry would have been better equipped to withstand these economic shocks and ready to embrace transformative technologies that drive efficiency and growth.” The PwC-FCCISL Business Resurgence Survey, conducted from July to September 2020, emphasises the need for a comprehensive, multi-stakeholder approach to support the recovery and growth of local entrepreneurs in the post-pandemic landscape. The survey highlights that a broad spectrum of collaborative actions across various sectors is essential to drive meaningful resurgence, calling for coordinated efforts by key stakeholders, including the Government of Sri Lanka, public sector organisations, industry representative bodies, and private sector entities. Building upon the survey’s recommendations, FCCISL, CIOB, industry chambers, trade associations, and institutions are positioned to take proactive steps by developing action plans that align with multi-stakeholder working groups. These groups aim to foster an ecosystem that addresses critical areas for entrepreneurship and business growth in Sri Lanka, which includes: 1. Market development: Expanding access to both local and international markets, facilitating new opportunities for Sri Lankan entrepreneurs to thrive. 2. Capacity development: Enhancing the skills and competencies of local businesses to increase competitiveness, resilience, and adaptability in a rapidly changing environment. 3. Financial support: Implementing robust financial aid programs, incentives, concessions, relief and access to credit for small and medium enterprises (SMEs) and other emerging businesses to sustain operations and scale effectively. 4. Business environment improvement: Reforming the regulatory landscape to create a more favourable and enabling business environment, reduce bureaucratic burdens, red tape and promote ease of doing business. The survey’s findings also underscore the sector-specific impacts of the pandemic, highlighting areas that require targeted support and interventions, including, 1. Micro, Small, and Medium Enterprises (MSME) 2. Manufacturing 3. Trading 4. Transport and Storage 5. Accommodation and Food Services 6. Construction 7. Agriculture 8. Information and Communication Technology (ICT) 9. Professional Services 10. Education 11. Other Service Sectors By fostering collaboration across these areas, FCCISL and CIOB, together with industry chambers, entrepreneurs and other entities, aim to unlock tangible benefits for local entrepreneurs, thereby strengthening Sri Lanka’s entrepreneurial ecosystem and contributing to sustainable economic growth. Ruwan De Silva presented a series of well-researched, actionable proposals that outline short-term, medium-term, and long-term measures to support the construction industry. These proposals include: 1. Immediate financial relief: Establishing emergency funds to assist cash-strapped contractors with ongoing projects and enabling the resumption of suspended works. 2. Debt restructuring and interest relief: Implementing interest concessions for pandemic-induced debts to ease financial pressures on contractors and encourage continued operations. 3. Policy revisions: Updating outdated contractual pricing models and incorporating regulatory clauses that reflect current economic realities, ensuring fair compensation for contractors. 4. Investment promotion: Attracting private and public investment through tax incentives, improved project financing options, and incentives for sustainable building practices. 5. Restarting donor-funded projects: Encouraging the resumption of foreign-funded initiatives to bring in capital and spur development. 6. FCCISL-PwC Business Resurgence Survey Report 7. CIOB Budget Proposals 2023 8. FCCISL Labour Reforms Report 9. Analytical insights and study series Sri Lanka’s construction sector is pivotal to national development, and its revival will benefit every layer of the economy. CIOB and FCCISL’s proposals serve as a wake-up call to all stakeholders, emphasising the importance of coordinated policy action to ensure a sustainable, growth-oriented future for the construction industry and Sri Lanka’s broader economy.Wayne Holdsworth became an advocate for banning Australian children younger than 16 from social media because his son took his own life after falling victim to an online sextortion scam. Mac Holdsworth died last year at his Melbourne family home at the age of 17 after a 47-year-old Sydney man who purported to be an 18-year-old woman demanded money for an intimate image the boy had shared. Since then, the grieving father has taken his tragic story to around 20 schools to warn students of the risks of social media. “I saw firsthand the damage that social media could do. I saw Mac, my son, get sexually extorted on social media,” Holdsworth said. “His mental health deteriorated at a rapid rate.” Online predators began approaching the teenager before his 16th birthday and his father believes such a ban could have saved his life. Australia’s House of Representatives on Wednesday voted for such a ban and the Senate is expected to make it law soon. Holdsworth said most of the 3,000 students he’s spoken to, from age 12 to 17, agree with a ban on children under the age of 16. “They come up to me and they say, ‘I’m so glad that this is going to be implemented,’” Holdsworth said. “Even the kids see it now that they’re going to be protected from those predators outside that are preying on them.” He said three girls approached him after a school address on Monday to tell him that they were being subjected to sextortion. One had already handed over 2,500 Australian dollars ($1,600) of her parents’ money to a blackmailer. Holdsworth said he was the first adult they had confided in. “The parent won’t know until the credit card statement comes out,” he said. “So it’s prevalent. It happened last night and it’ll happen tonight,” he added. Holdsworth described the government plan to ban children younger than 16 from social media as “absolutely essential for the safety of our children.” But not all parents are convinced that banning young children from social media is the answer. Critics say the legislation was rushed through Parliament without adequate scrutiny, would not work, would create privacy risks for users of all ages and would take away parents’ authority to decide what’s best for their children. They also argue the ban would isolate children, deprive them of positive aspects of social media, drive children to the dark web, make children too young for social media reluctant to report harms they encounter, and take away incentives for platforms to make online spaces safer. Independent Sydney lawmaker Kylea Tink on Tuesday became the first member of the House of Representatives to speak publicly against the bill, which would make platforms including TikTok, Facebook, Snapchat, Reddit, X and Instagram liable for fines of up to 50 million Australian dollars ($33 million) for systemic failures to prevent young children from holding accounts. “As a mom of three young adults ... I’m very aware of the negative impacts of social media and the challenges of parenting in this digital world,” Tink told Parliament. “I also recognize, however, that my children are digital natives and are very literate about how these platforms work. For this reason, I encourage everyone involved in this debate to ensure they are listening to the voices of young Australians when it comes to this decision-making process rather than assuming that the grownups in the room know best.” Tink was among 13 lawmakers who voted against the bill in the House on Wednesday. They were overwhelmed by 102 legislators who voted for it. The platforms have urged a Senate committee that examined the legislation on Monday to delay a vote until after a government-commissioned evaluation of age assurance technologies is completed next June. The four-hour committee meeting on Monday attracted 15,000 written submissions. X Corp. told the committee that billionaire entrepreneur Elon Musk’s platform had “serious concerns as to the lawfulness of the bill,” including its compatibility with the U.N. Convention on the Rights of the Child and the International Covenant on Civil and Political Rights. “There is no evidence that banning young people from social media will work and to make it law in the form proposed is highly problematic,” X said. Meta, which owns Facebook and Instagram, said the legislation was “inconsistent with what Australian parents have told us that they want, which is a simple and effective way for them to set controls and manage their teens’ online experience.” Under the bill, parental consent for children to use social media does not override the ban. Lizzie O’Shea, chair of the Digital Rights Watch charity, which aims to uphold the digital rights of Australians, said she was appalled by the process and limited timeframe the government used to pass such significant and contentious legislation. She said she was very aware of the serious risks posed by social media platforms, “but I do not support a ban personally because I understand both the limits of that particular policy and the expert evidence that is coming out from people who work in this space about the problems for young people being excluded from those spaces,” O’Shea said. Her concerns centered on privacy, negative mental health impacts on excluded children and the possibility that young children would find ways to access social media spaces that would become even less child friendly as a result of the ban. “I’m profoundly aware of the dangers of large social media platforms running a certain kind of business model that prioritizes data extraction and exploitation of vulnerability over the public interest or the building of community and the protection of democracy,” she said. Swinburne University digital media expert Belinda Barnet, who supports the ban, feels she is part of a minority among professionals in the digital field. “I like it mainly because I think many of the social media platforms as they exist right now are not suitable environments for young children,” she said.FSR Doubles Investment in Cardiac Sarcoidosis Research with $200,000 in Grants to Advance ...