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Birthday Boy Sanjay Dutt's Most Iconic Villain Roles
Birthday Boy Sanjay Dutt's Most Iconic Villain Roles

News18

time2 hours ago

  • Entertainment
  • News18

Birthday Boy Sanjay Dutt's Most Iconic Villain Roles

1/9 Many actors have showcased their acting prowess as the villains in the Hindi films and ended up outshining the protagonist as well. Among these bad guys of Bollywood, Sanjay Dutt occupies a special place as he has left an indelible impression of his acting both as a hero and a villain. (Image: IMDb) 3/9 Musafir: Billa, Dutt's character in the crime thriller, was of a ruthless killer who is very evil and stylish as well. Despite the fact that the 2004 film was a box office disappointment, Billa's character was loved by audiences the most. (Image: IMDb) Plan: The seasoned actor went a notch up in the antagonist avatar with his character of Mussabhai in the film Plan (2004). Sanju Baba played the role of a dreaded underworld don of Mumbai. (Image: IMDb) Agneepath: Dutt's portrayal of Kancha Cheena, the main antagonist in the 2012 film, remains one of his most prolific roles ever. From his bulky frame to his shaved head, the actor left everyone aghast with his menacing look. (Image: IMDb) Panipat: Sanjay left no stone unturned to get his teeth into the skin of Ahmad Shah Abdali's role from Panipat directed by Ashutosh Gowariker. In this 2019 period drama, Sanjay ended up stealing the limelight from male lead Arjun Kapoor as well who played the role of Maratha commander Sadashiv Rao Bhau. (Image: IMDb) KGF Chapter 2: The veteran actor excelled in essaying the character of Adheera. However, some opined that he had gone too far in playing this role and it didn't look convincing as well. Many felt that they had seen Sanjay performing such characters in the past as well and there was no novelty in Adheera's character. However, he was praised by a section of audiences and critics for his portrayal of the character in this 2022 blockbuster movie. (Image: IMDb) Shamshera: Among all the negative characters played by Sanjay Dutt till date in his career, the role of Daroga Shuddh Singh seems to be murkier and enjoyable. A character who is highly drunk on power, Shuddh Singh was also dismissive of the British superiority. (Image: IMDb)

On Universal Credit? How you can save £100s on your summer phone bill
On Universal Credit? How you can save £100s on your summer phone bill

Scottish Sun

time3 days ago

  • Business
  • Scottish Sun

On Universal Credit? How you can save £100s on your summer phone bill

Check below to see if you can save TO YOUR BENEFIT On Universal Credit? How you can save £100s on your summer phone bill Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) HEADING off for some summer sun should be a relaxing break, not a source of bill-shock. But with many major mobile networks reintroducing expensive daily roaming charges for using your phone in Europe, the cost of a simple holiday can quickly spiral. Sign up for Scottish Sun newsletter Sign up 1 If you're receiving Universal Credit or other benefits, you could be eligible for a special 'social tariff' Credit: Getty For a family of four, a two-week trip could add £100s in roaming fees alone. However, a little-known secret could save you a fortune. If you're receiving Universal Credit or other benefits, you could be eligible for a special 'social tariff' on your mobile plan, slashing your monthly costs and letting you use your phone abroad for free. These 'social' or 'essential' tariffs offer the same service as regular packages but at a significantly lower price. They typically come with no long-term contracts, a guarantee of no mid-contract price hikes, and two of the three providers even include free roaming in Europe. For example, O2's Essential Plan costs just £10 a month and gives you 10GB of data with unlimited calls and texts. Crucially, you can use up to 10GB of that data in the EU at no extra cost. The plan is a flexible 30-day deal, with no upfront costs or price rises. Meanwhile, SMARTY's Social Tariff provides unlimited data, calls, and texts for £12 a month. For holidaymakers, it includes EU roaming with a generous 12GB data cap. Easy ways to slash your mobile bill Like O2's offer, it's a flexible one-month plan with no annual price rises. Choosing one of these tariffs means you can avoid the daily roaming charges now levied by most major networks since Brexit. Many providers, including EE, Three, and Vodafone, may charge around £2 to £2.57 per day to use your UK allowance in Europe. That could add up to £35 to your bill for a two-week holiday. Providers like EE and Voxi also offer social tariffs, but be aware that their roaming policies may include extra charges. To apply, simply contact your chosen provider. They will ask for some basic information and carry out a quick, confidential check with the Department for Work and Pensions to confirm your eligibility before setting up your plan. The regulator, Ofcom, provides a comprehensive list of all the available social tariffs on its website. Before switching mobile plans, check if you're still in contract to avoid high exit fees. Over 33million people are out of contract, according to Uswitch, so it's worth checking if you can upgrade or switch to avoid paying more than necessary. To check your contract status, text "INFO" followed by your date of birth (DDMMYY) to 85075. You'll get a text confirming if you'd need to pay an early termination fee. These fees only apply if you're still in contract. If no fee is mentioned, you're likely out of contract and free to switch.

Aon Reports Second Quarter 2025 Results
Aon Reports Second Quarter 2025 Results

Yahoo

time4 days ago

  • Business
  • Yahoo

Aon Reports Second Quarter 2025 Results

DUBLIN, July 25, 2025 /PRNewswire/ -- Aon plc (NYSE: AON) today reported results for the three months ended June 30, 2025. Aon delivered another quarter of strong performance, including 11% total revenue growth and 6% organic revenue growth. We are executing our Aon United strategy through the 3x3 Plan to meet client demand Strong Free Cash Flow is powering our capital allocation strategy – supporting debt reduction, disciplined middle-market M&A and capital return to shareholders Our first-half performance reinforces our confidence in achieving our full-year 2025 financial guidanceSecond Quarter 2025First Half 202520252024Change20252024Change Total revenue $4,155$3,76011 %$8,884$7,83013 % Organic revenue growth (Non-GAAP) 6 %5 % Operating income $859$65631 %$2,320$2,1219 % Adjusted operating income (Non-GAAP) $1,171$1,02914 %$2,987$2,64413 % Operating margin 20.7 %17.4 %26.1 %27.1 % Adjusted operating margin (Non-GAAP) 28.2 %27.4 %33.6 %33.8 % Diluted EPS $2.66$2.468 %$7.10$7.72(8) % Adjusted EPS (Non-GAAP) $3.49$2.9319 %$9.17$8.508 % Cash provided by operations $796$51355 %$936$82214 % Free cash flow (Non-GAAP) $732$46059 %$816$72113 % "We delivered strong second quarter results, including 6% organic revenue growth, 19% growth in adjusted EPS, and 59% free cash flow growth," said Greg Case, president and CEO of Aon. "This performance reflects the growing demand for our advice and solutions, driven by an increasingly complex environment and the need to unlock new sources of capital. Our solutions are resonating with clients and we are effectively meeting that demand. The continued successful execution of our Aon United strategy – operationalized by our 3x3 Plan and powered by Aon Business Services – is fueling sustainable organic growth, margin expansion and free cash flow growth, as we invest in our business. Looking ahead, we remain confident in our outlook and are reaffirming our full-year 2025 guidance." Net income attributable to Aon shareholders increased 8%, to $2.66 per share on a diluted basis, compared to $2.46 per share on a diluted basis, in the prior year period. Adjusted net income per share attributable to Aon shareholders increased 19% to $3.49 on a diluted basis compared to $2.93 in the prior year period. Certain items that impacted second quarter results and comparisons with the prior year period are detailed in "Reconciliation of Non-GAAP Measures - Operating Income, Operating Margin and Diluted Earnings Per Share" on page 11 of this press release. SECOND QUARTER 2025 FINANCIAL SUMMARY Total revenue in the second quarter increased 11% to $4.2 billion compared to the prior year period, reflecting 6% organic revenue growth, the contribution from NFP and 1% favorable impact from foreign currency translation. Risk Capital revenue increased $216 million, or 8%, to $2.9 billion and Human Capital revenue increased $166 million, or 15%, to $1.3 billion. Total operating expenses in the second quarter increased 6% to $3.3 billion compared to the prior year period due primarily to the inclusion of NFP's ongoing operating expenses, an increase in intangible asset amortization associated with the NFP acquisition and an increase in expense associated with 6% organic revenue growth and investments in long-term growth, partially offset by transaction costs incurred in the prior year period, lower Accelerating Aon United program expense and $35 million of net restructuring savings. Risk Capital operating expenses increased $136 million, or 7%, to $2.0 billion and Human Capital operating expenses increased $139 million, or 13%, to $1.2 billion. Foreign currency translation had a de minimis impact on EPS in the second quarter. If currency were to remain stable at today's rates, the Company would expect an unfavorable impact on adjusted EPS of approximately $0.05 per share for the full year 2025. Effective tax rate was 15.5% in the second quarter compared to 22.9% in the prior year period. After adjusting to exclude the applicable tax impact associated with certain non-GAAP adjustments, the adjusted effective tax rate for the second quarter of 2025 was 16.5% compared to 22.2% in the prior year period. The primary drivers of the change in adjusted effective tax rate were the net favorable impact from discrete items and changes in the geographical distribution of income. Weighted average diluted shares outstanding increased to 217.3 million in the second quarter compared to 213.3 million in the prior year period. The Company repurchased 0.7 million class A ordinary shares for approximately $250 million in the second quarter. As of June 30, 2025, the Company had approximately $1.8 billion of remaining authorization under its share repurchase program. YEAR TO DATE 2025 CASH FLOW SUMMARY Cash flows provided by operations for the first six months of 2025 increased $114 million, or 14%, to $936 million compared to the prior year period, primarily due to strong adjusted operating income growth and days sales outstanding improvements, partially offset by higher payments related to incentive compensation, interest, and restructuring. Free cash flow, defined as cash flow from operations less capital expenditures, increased 13%, to $816 million for the first six months of 2025 compared to the prior year period, reflecting an increase in cash flows provided by operations, partially offset by a $19 million increase in capital expenditures. SECOND QUARTER 2025 REVENUE REVIEW The second quarter revenue reviews provided below include supplemental information related to Organic revenue growth, which is a non-GAAP measure that is described in detail in "Reconciliation of Non-GAAP Measures - Organic Revenue Growth and Free Cash Flow" on page 10 of this press release. Three Months Ended June 30, (millions)20252024% ChangeLess: Currency ImpactLess: Fiduciary Investment IncomeLess: Acquisitions, Divestitures & OtherOrganic Revenue Growth Risk Capital Revenue: Commercial Risk Solutions$ 2,178$ 2,0158 %1 %— %1 %6 % Reinsurance Solutions68863581—16 Human Capital Revenue: Health Solutions77266217——116 Wealth Solutions519463122—73 Eliminations(2)(15)N/AN/AN/AN/AN/A Total revenue$ 4,155$ 3,76011 %1 %— %4 %6 % Total revenue increased $395 million, or 11%, to $4.2 billion, compared to the prior year period, reflecting 6% organic revenue growth, the contribution from NFP and a 1% favorable impact from foreign currency translation. Risk Capital revenue increased $216 million, or 8%, to $2.9 billion and Human Capital revenue increased $166 million, or 15%, to $1.3 billion. Risk Capital Commercial Risk Solutions Organic revenue growth of 6% reflects growth across all major geographies driven by net new business and ongoing strong retention. Performance was highlighted by strong growth globally in core P&C and strength in M&A services relative to the prior year. Market impact was modestly positive. Reinsurance Solutions Organic revenue growth of 6% reflects double-digit increases in insurance-linked securities and facultative placements. Results also reflect growth in treaty, driven by net new business and ongoing strong retention, partially offset by a modest unfavorable market impact. Human Capital Health Solutions Organic revenue growth of 6% reflects strength in core health and benefits, driven by net new business, ongoing strong retention, and a modestly positive market impact. The core performance was highlighted by double-digit growth internationally. Results also reflect strength in executive benefits and pharmacy benefits in NFP. Wealth Solutions Organic revenue growth of 3% reflects growth in Retirement driven by advisory related to the ongoing impact of regulatory change. In Investments, results reflect strength in NFP, driven by net asset inflows and market performance. SECOND QUARTER 2025 EXPENSE REVIEW Three Months Ended June 30, (millions)20252024$ Change% Change Expenses Compensation and benefits$ 2,360$ 2,130$ 23011 % Information technology13613243 Premises858234 Depreciation of fixed assets474524 Amortization and impairment of intangible assets2011287357 Other general expense373455(82)(18) Accelerating Aon United Program expenses94132(38)(29) Total operating expenses$ 3,296$ 3,104$ 1926 % Compensation and benefits expense increased $230 million, or 11%, compared to the prior year period due primarily to the inclusion of operating expenses from NFP and expense associated with 6% organic revenue growth, partially offset by savings from Accelerating Aon United restructuring actions. Information technology expense increased $4 million, or 3%, compared to the prior year period due primarily to the inclusion of ongoing operating expenses from NFP. Premises expense increased $3 million, or 4%, compared to the prior year period, due primarily to the inclusion of ongoing operating expenses from NFP. Depreciation of fixed assets increased $2 million, or 4%, compared to the prior year period. Amortization and impairment of intangible assets increased $73 million, or 57%, compared to the prior year period due primarily to an increase in intangible assets related to the acquisition of NFP. Other general expense decreased $82 million, or 18%, compared to the prior year period due primarily to a decrease in transaction and integration costs. Accelerating Aon United Restructuring Program expense decreased $38 million, or 29%, compared to the prior year period due to lower costs related to workforce optimization and asset impairments, partially offset by higher costs related to technology and other costs. SECOND QUARTER 2025 INCOME SUMMARY Certain noteworthy items impacted adjusted operating income and Adjusted operating margin in the second quarters of 2025 and 2024, which are also described in detail in "Reconciliation of Non-GAAP Measures - Operating Income, Operating Margin and Diluted Earnings Per Share" on page 11 of this press release. Three Months Ended June 30, (millions)20252024% Change Revenue$ 4,155$ 3,76011 % Expenses3,2963,1046 % Operating income$ 859$ 65631 % Operating margin20.7 %17.4 % Adjusted operating income $ 1,171$ 1,02914 % Adjusted operating margin28.2 %27.4 % Operating income increased $203 million and operating margin increased 330 basis points to 20.7%, each compared to the prior year period. Adjusted operating income increased $142 million, or 14%, and Adjusted operating margin increased 80 basis points to 28.2%, each compared to the prior year period. The increase in adjusted operating income reflects organic revenue growth, the impact from NFP, and net restructuring savings, partially offset by increased expenses and investments in long-term growth. Interest income decreased $31 million compared to the prior year period due primarily to interest earned in the prior year period on the investment of $5 billion of term debt proceeds which were used to fund the purchase of NFP. Interest expense decreased $13 million compared to the prior year period, reflecting lower total debt. Other income was $56 million compared to $236 million in the prior year period, primarily due to gains related to the sale of a business in the prior year period, partially offset by deferred consideration from the 2017 sale of our outsourcing business. Adjusted other expense was $32 million compared to $15 million in the prior year period, primarily due to the unfavorable impact of exchange rates on the remeasurement of assets and liabilities in non-functional currencies and an increase in non-cash pension expense. Net income attributable to Aon shareholders increased 10% to $579 million compared to $524 million in the prior year period. Adjusted net income attributable to Aon shareholders increased 22% to $759 million compared to $624 million in the prior year period. Conference Call, Presentation Slides, and Webcast Details The Company will host a conference call on Friday, July 25, 2025 at 7:30 a.m., central time. Interested parties can listen to the conference call via a live audio webcast and view the presentation slides at About AonAon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses. Follow Aon on LinkedIn, X, Facebook, and Instagram. Stay up-to-date by visiting the Aon Newsroom and sign up for News Alerts Safe Harbor StatementThis communication contains certain statements related to future results, or states Aon's intentions, beliefs and expectations or predictions for the future, all of which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors. These forward-looking statements include information about possible or assumed future results of Aon's operations. All statements, other than statements of historical facts, that address activities, events or developments that Aon expects or anticipates may occur in the future, including such things as our outlook, market and industry conditions, including competitive and pricing trends, the development and performance of our services and products, our cost structure and the outcome of cost-saving or restructuring initiatives, including the impacts of the Accelerating Aon United Program, the integration of NFP, actual or anticipated legal settlement expenses, future capital expenditures, growth in commissions and fees, changes to the composition or level of our revenues, cash flow and liquidity, expected tax rates, expected foreign currency translation impacts, business strategies, competitive strengths, goals, the benefits of new initiatives, growth of our business and operations, plans, references to future successes, and expectations with respect to the benefits of the acquisition of NFP are forward-looking statements. Also, when Aon uses words such as "anticipate", "believe", "continue", "could", "estimate", "expect", "forecast", "intend", "looking forward", "may", "might", "plan", "potential", "opportunity", "commit", "probably", "project", "positioned", "should", "will", "would" or similar expressions, it is making forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in or anticipated by the forward looking statements: changes in the competitive environment, due to macroeconomic conditions or otherwise, or damage to Aon's reputation; fluctuations in currency exchange, interest, or inflation rates that could impact our financial condition or results; changes in global equity and fixed income markets that could affect the return on invested assets; changes in the funded status of Aon's various defined benefit pension plans and the impact of any increased pension funding resulting from those changes; the level of Aon's debt and the terms thereof reducing Aon's flexibility or increasing borrowing costs; rating agency actions that could limit Aon's access to capital and our competitive position; volatility in Aon's global tax rate due to being subject to a variety of different factors, including the adoption and implementation in the European Union, the United States, the United Kingdom, or other countries of the Organization for Economic Co-operation and Development tax proposals or other pending proposals in those and other countries, which could create volatility in that tax rate; changes in Aon's accounting estimates or assumptions on Aon's financial statements; limits on Aon's subsidiaries' ability to pay dividends or otherwise make payments to Aon; the impact of legal proceedings and other contingencies, including those arising from acquisition or disposition transactions, errors and omissions and other claims against Aon (including proceeding and contingencies relating to transactions for which capital was arranged by Vesttoo Ltd. or related to actions we may take in being responsible for making decisions on behalf of clients in our investment business or in other advisory services that we currently provide, or may provide in the future); the impact of, and potential challenges in complying with, laws and regulations in the jurisdictions in which Aon operates, particularly given the global nature of Aon's operations and the possibility of differing or conflicting laws and regulations, or the application or interpretation thereof, across jurisdictions in which Aon does business; the impact of any regulatory investigations brought in Ireland, the U.K., the U.S. and other countries; failure to protect intellectual property rights or allegations that Aon infringes on the intellectual property rights of others; general economic and political conditions in different countries in which Aon does business around the world; the failure to retain, attract and develop experienced and qualified personnel; international risks associated with our global operations, including geopolitical conflicts, tariffs, or changes in trade policies; the effects of natural or human-caused disasters, including the effects of health pandemics and the impacts of climate related events; any system or network disruption or breach resulting in operational interruption or improper disclosure of confidential, personal, or proprietary data, and resulting liabilities or damage to our reputation; Aon's ability to develop, implement, update and enhance new technology; the actions taken by third parties that perform aspects of Aon's business operations and client services; Aon's ability to continue, and the costs and risks associated with, growing, developing and integrating acquired business, and entering into new lines of business or products; Aon's ability to secure regulatory approval and complete transactions, and the costs and risks associated with the failure to consummate proposed transactions; changes in commercial property and casualty markets, commercial premium rates or methods of compensation; Aon's ability to develop and implement innovative growth strategies and initiatives intended to yield cost savings (including the Accelerating Aon United Program), and the ability to achieve such growth or cost savings; the effects of Irish law on Aon's operating flexibility and the enforcement of judgments against Aon; adverse effects on the market price of Aon's securities and/or operating results for any reason, including, without limitation, because of a failure to realize the expected benefits of the acquisition of NFP (including anticipated revenue and growth synergies) in the expected timeframe, or at all; and significant integration costs or difficulties in connection with the acquisition of NFP or unknown or inestimable liabilities. Any or all of Aon's forward-looking statements may turn out to be inaccurate, and there are no guarantees about Aon's performance. The factors identified above are not exhaustive. Aon and its subsidiaries operate in a dynamic business environment in which new risks may emerge frequently. Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. In addition, results for prior periods are not necessarily indicative of results that may be expected for any future period. Further information concerning Aon and its businesses, including factors that could materially affect Aon's financial results, is contained in Aon's filings with the SEC. See Aon's Annual Report on Form 10-K for the year ended December 31, 2024 for a further discussion of these and other risks and uncertainties applicable to Aon and its businesses. These factors may be revised or supplemented in subsequent reports filed with the SEC. Aon is not under, and expressly disclaims, any obligation to update or alter any forward-looking statement that it may make from time to time, whether as a result of new information, future events or otherwise. Explanation of Non-GAAP MeasuresThis communication includes supplemental information not calculated in accordance with generally accepted accounting principles in the United States ("U.S. GAAP"), including Organic revenue growth, free cash flow, adjusted operating income, adjusted operating margin, adjusted earnings per share (EPS), adjusted net income attributable to Aon shareholders, adjusted diluted net income per share, adjusted effective tax rate, adjusted other income (expense), and adjusted income before income taxes that exclude the effects of intangible asset amortization and impairment, Accelerating Aon United Program expenses, contingent consideration, NFP transaction and integration costs, certain pension settlements, capital expenditures, and certain other noteworthy items that affected results for the comparable periods. Organic revenue growth includes the impact of intercompany activity and excludes foreign exchange rate changes, acquisitions (provided that Organic revenue growth includes Organic growth of an acquired business as calculated assuming that the acquired business was part of the combined company for the same proportion of the relevant prior year period), divestitures (including held for sale disposal groups, if any), transfers between revenue lines, fiduciary investment income, and gains or losses on derivatives accounted for as hedges. Currency impact represents the effect on prior year period results if they were translated at current period foreign exchange rates. Reconciliations to the closest U.S. GAAP measure for each non-GAAP measure presented in this communication are provided in the attached appendices. Supplemental Organic revenue growth information and additional measures that exclude the effects of certain items noted above do not affect net income or any other U.S. GAAP reported amounts. Free cash flow is cash flows from operating activity less capital expenditures. The adjusted effective tax rate excludes the applicable tax impact associated with adjustments previously described, generally at the estimated annual effective tax rate or jurisdictional rate, where appropriate. Beginning in the third quarter of 2024, the adjusted effective tax rate also excludes interest accruals for income tax reserves related to the termination fee payment made in connection with the Company's terminated proposed combination with Willis Towers Watson. Management believes that these measures are important to make meaningful period-to-period comparisons and that this supplemental information is helpful to investors. Management also uses these measures to assess operating performance and performance for compensation. Non-GAAP measures should be viewed in addition to, not in lieu of, Aon's Condensed Consolidated Financial Statements. Industry peers provide similar supplemental information regarding their performance, although they may not make identical adjustments. Aon does not provide a reconciliation of forward-looking non-GAAP measures, where Aon believes such a reconciliation would imply a degree of precision and certainty that could be misleading and is unable to reasonably predict certain items contained in the corresponding GAAP measures without unreasonable efforts. This is due to the inherent difficulty of forecasting the timing or amount of various items that have not yet occurred and are out of the Aon's control, or cannot be reasonably predicted. For these reasons, Aon is also unable to address the probable significance of the unavailable information. Investor Contact:Media Contact: Hallie MillerWill Dunn +1 847 442 0622Toll-free (U.S., Canada and Puerto Rico): +1 833 751 8114 +1 312 381 3024 mediainquiries@ Aon plcCondensed Consolidated Statements of Income (Unaudited)Three Months Ended June 30,Six Months Ended June 30, (millions, except per share data)20252024% Change20252024% Change Revenue Total revenue$ 4,155$ 3,76011 %$ 8,884$ 7,83013 % Expenses Compensation and benefits2,3602,13011 %4,6094,01315 % Information technology1361323 %2722566 % Premises85824 %1671539 % Depreciation of fixed assets47454 %93894 % Amortization and impairment of intangible assets20112857 %400144178 % Other general expense373455(18) %8198032 % Accelerating Aon United Program expenses94132(29) %204251(19) % Total operating expenses3,2963,1046 %6,5645,70915 % Operating income85965631 %2,3202,1219 % Interest income—31(100) %559(92) % Interest expense(212)(225)(6) %(418)(369)13 % Other income (expense)56236(76) %4631185 % Income before income taxes7036981 %1,9532,122(8) % Income tax expense (1)109160(32) %377491(23) % Net income59453810 %1,5761,631(3) % Less: Net income attributable to redeemable and nonredeemable noncontrolling interests15147 %3236(11) % Net income attributable to Aon shareholders$ 579$ 52410 %$ 1,544$ 1,595(3) %Basic net income per share attributable to Aon shareholders$ 2.68$ 2.479 %$ 7.14$ 7.75(8) % Diluted net income per share attributable to Aon shareholders$ 2.66$ 2.468 %$ 7.10$ 7.72(8) % Weighted average ordinary shares outstanding - basic216.2212.52 %216.3205.85 % Weighted average ordinary shares outstanding - diluted217.3213.32 %217.6206.75 % (1) The effective tax rate was 15.5% and 22.9% for the three months ended June 30, 2025 and 2024, respectively, and 19.3% and 23.1% for the six months ended June 30, 2025 and 2024, respectively. Aon plcSegment Results (Unaudited) Three Months Ended June 30,Risk CapitalHuman CapitalCorporate/Eliminations (1)Total Consolidated20252024202520242025202420252024 RevenueTotal revenue $ 2,866$ 2,650$ 1,291$ 1,125$ (2)$ (15)$ 4,155$ 3,760 ExpensesCompensation and benefits 1,5411,39079671023302,3602,130 Information technology 889345393—136132 Premises 545430281—8582 Other expenses (2) 31932930325893173715760 Total operating expenses 2,0021,8661,1741,0351202033,2963,104 Operating income $ 864$ 784$ 117$ 90$ (122)$ (218)$ 859$ 656 Operating margin 30.1 %29.6 %9.1 %8.0 %20.7 %17.4 %Six Months Ended June 30,Risk CapitalHuman CapitalCorporate/Eliminations (1)Total Consolidated20252024202520242025202420252024 RevenueTotal revenue $ 6,057$ 5,625$ 2,836$ 2,228$ (9)$ (23)$ 8,884$ 7,830 ExpensesCompensation and benefits 3,0022,7441,5701,23737324,6094,013 Information technology 17818290744—272256 Premises 10610459492—167153 Other expenses (2) 7106265973912092701,5161,287 Total operating expenses 3,9963,6562,3161,7512523026,5645,709 Operating income $ 2,061$ 1,969$ 520$ 477$ (261)$ (325)$ 2,320$ 2,121 Operating margin 34.0 %35.0 %18.3 %21.4 %26.1 %27.1 % (1) Corporate expenses/eliminations include governance costs, post-retirement benefits, and other costs that are not directly attributable to a specific segment. (2) Includes expenses related to Depreciation of fixed assets, Amortization and impairment of intangible assets, Accelerating Aon United Program expenses, and Other general expenses. Aon plcReconciliation of Non-GAAP Measures - Organic Revenue Growth and Free Cash Flow (Unaudited)Organic Revenue Growth (Unaudited) Three Months Ended June 30, 20252024% ChangeLess: Currency Impact (1)Less: Fiduciary Investment Income (2)Less: Acquisitions, Divestitures & Other Organic Revenue Growth (3) Risk Capital Revenue: Commercial Risk Solutions$ 2,178$ 2,0158 %1 %— %1 %6 % Reinsurance Solutions68863581—16 Human Capital Revenue: Health Solutions77266217——116 Wealth Solutions519463122—73 ...Eliminations(2)(15)N/AN/AN/AN/AN/A Total revenue$ 4,155$ 3,76011 %1 %— %4 %6 %Six Months Ended June 30, 20252024% ChangeLess: Currency Impact (1)Less: Fiduciary Investment Income (2)Less: Acquisitions, Divestitures & Other Organic Revenue Growth (3) Risk Capital Revenue: Commercial Risk Solutions$ 4,180$ 3,8239 %(1) %— %5 %5 % Reinsurance Solutions1,8771,8024———4 Human Capital Revenue: Health Solutions1,7981,39529(1)—246 Wealth Solutions1,038833251—186 Eliminations(9)(23)N/AN/AN/AN/AN/A Total revenue$ 8,884$ 7,83013 %(1) %— %9 %5 % (1) Currency impact represents the effect on prior year period results if they were translated at current period foreign exchange rates. (2) Fiduciary investment income for the three months ended June 30, 2025 and 2024 was $66 million and $75 million, respectively. Fiduciary investment income for the six months ended June 30, 2025 and 2024 was $133 million and $154 million, respectively. (3) Organic revenue growth includes the impact of certain intercompany activity and excludes the impact of changes in foreign exchange rates, fiduciary investment income, acquisitions (provided that Organic revenue growth includes Organic growth of an acquired business as calculated assuming that the acquired business was part of the combined company for the same proportion of the relevant prior year period), divestitures (including held for sale disposal groups, if any), transfers between revenue lines, and gains or losses on derivatives accounted for as hedges. Free Cash Flow (Unaudited)Three Months Ended June 30, (millions)20252024% Change Cash Provided by Operating Activities$ 796$ 51355 % Capital Expenditures(64)(53)21 % Free Cash Flow (1)$ 732$ 46059 % Six Months Ended June 30, (millions)20252024% Change Cash Provided by Operating Activities$ 936$ 82214 % Capital Expenditures(120)(101)19 % Free Cash Flow (1)$ 816$ 72113 % (1) Free cash flow is defined as cash flows from operations less capital expenditures. This non-GAAP measure does not imply or represent a precise calculation of residual cash flow available for discretionary expenditures. Aon plcReconciliation of Non-GAAP Measures - Operating Income and Operating Margin (Unaudited) (1) Three Months Ended June 30,Risk CapitalHuman CapitalCorporate/Eliminations (2)Total Consolidated (millions, except percentages) 20252024202520242025202420252024 Revenue $ 2,866$ 2,650$ 1,291$ 1,125$ (2)$ (15)$ 4,155$ 3,760 Operating income $ 864$ 784$ 117$ 90$ (122)$ (218)$ 859$ 656 Amortization and impairment of intangible assets 865311575——201128 Change in the fair value of contingent consideration (9)3(1)15——(10)18 Accelerating Aon United Program expenses (3) 3248612567294132 Transaction and integration costs (4)(5) 3391815742795 Adjusted operating income $ 976$ 891$ 246$ 210$ (51)$ (72)$ 1,171$ 1,029 Operating margin 30.1 %29.6 %9.1 %8.0 %20.7 %17.4 % Adjusted operating margin 34.1 %33.6 %19.1 %18.7 %28.2 %27.4 %Six Months Ended June 30,Risk CapitalHuman CapitalCorporate/Eliminations (2)Total Consolidated (millions, except percentages) 20252024202520242025202420252024 Revenue $ 6,057$ 5,625$ 2,836$ 2,228$ (9)$ (23)$ 8,884$ 7,830 Operating income $ 2,061$ 1,969$ 520$ 477$ (261)$ (325)$ 2,320$ 2,121 Amortization and impairment of intangible assets 1706523079——400144 Change in the fair value of contingent consideration (3)31015——718 Accelerating Aon United Program expenses (3) 51921023143136204251 Transaction and integration costs (4)(5) 1432118218956110 Adjusted operating income $ 2,293$ 2,132$ 791$ 612$ (97)$ (100)$ 2,987$ 2,644 Operating margin 34.0 %35.0 %18.3 %21.4 %26.1 %27.1 % Adjusted operating margin 37.9 %37.9 %27.9 %27.5 %33.6 %33.8 % (1) Certain noteworthy items impacting operating income in the three and six months ended June 30, 2025 and 2024 are described in this schedule. The items shown with the caption "adjusted" are non-GAAP measures. (2) Corporate expenses/eliminations include governance costs, post-retirement benefits, and other costs that are not directly attributable to a specific segment. (3) Total charges include technology-related costs to facilitate streamlining and simplifying operations, headcount reduction costs, and costs associated with asset impairments, including real estate consolidation. (4) Transaction costs include advisory, legal, accounting, regulatory, and other professional or consulting fees required to complete the NFP Transaction. No transaction costs were recognized for the three and six months ended June 30, 2025. $85 million and $96 million of transaction costs were recognized for the three and six months ended June 30, 2024, respectively. Of these amounts, $79 million and $90 million were recognized, respectively, in Total operating expenses and $6 million were recognized in Other income (expense) related to the extinguishment of acquired NFP debt for the three and six months ended June 30, 2024. (5) The NFP Transaction has and will continue to result in certain non-recurring integration costs associated with colleague severance, retention bonus awards, termination of redundant third-party agreements, costs associated with legal entity rationalization, and professional or consulting fees related to alignment of management processes and controls, as well as costs associated with the assessment of NFP information technology environment and security protocols. Aon incurred $27 million and $16 million of integration costs in the three months ended June 30, 2025 and 2024, respectively, and $56 million and $20 million of integration costs in the six months ended June 30, 2025 and 2024, respectively. Aon plcReconciliation of Non-GAAP Measures - Diluted Earnings Per Share (Unaudited) (1)Three Months Ended June 30,Six Months Ended June 30, (millions, except percentages)20252024% Change20252024% Change Adjusted operating income$ 1,171$ 1,02914 %$ 2,987$ 2,64413 % Interest income—31(100) %559(92) % Interest expense(212)(225)(6) %(418)(369)13 % Other income (expense): Other income (expense) - pensions(21)(11)91 %(44)(21)110 % Adjusted other income (expense) - other (2)(3)(4)(11)(4)175 %(18)(1)1,700 % Adjusted other income (expense)(32)(15)113 %(62)(22)182 % Adjusted income before income taxes 92782013 %2,5122,3129 % Adjusted income tax expense (5)153182(16) %485519(7) % Adjusted net income77463821 %2,0271,79313 % Less: Net income attributable to redeemable and nonredeemable noncontrolling interests15147 %3236(11) % Adjusted net income attributable to Aon shareholders$ 759$ 62422 %$ 1,995$ 1,75714 % Adjusted diluted net income per share attributable to Aon shareholders$ 3.49$ 2.9319 %$ 9.17$ 8.508 % Weighted average ordinary shares outstanding - diluted 217.3213.32 %217.6206.75 % Effective tax rates (5) U.S. GAAP15.5 %22.9 %19.3 %23.1 % Non-GAAP16.5 %22.2 %19.3 %22.4 % (1) Certain noteworthy items impacting operating income in the three and six months ended June 30, 2025 and 2024 are described in this schedule. The items shown with the caption "adjusted" are non-GAAP measures. (2) Adjusted Other income (expense) excluded gains from dispositions of $257 million related to the sale of a business for the three and six months ended June 30, 2024. (3) Adjusted Other income (expense) excluded approximately $6 million of debt extinguishment charges related to the repayment of NFP debt, which is considered a transaction related cost incurred in the second quarter of 2024. (4) For the three months ended June 30, 2025 and 2024, Other income was $56 million and $236 million, respectively. For the six months ended June 30, 2025 and 2024, Other income was $46 million and $311 million, respectively. During the three and six months ended June 30, 2025, gains of $88 million and $108 million were recognized, respectively, compared to $82 million recognized for the six months ended June 30, 2024, all of which was recognized in the first quarter of 2024. These gains related to deferred consideration from the affiliates of The Blackstone Group L.P. and the other designated purchasers related to a divestiture completed in a prior year period and were excluded from Adjusted other income (expense). Adjusted other expense for the three months ended June 30, 2025 and 2024 was $32 million and $15 million, respectively. Adjusted other expense for the six months ended June 30, 2025 and 2024 was $62 million and $22 million, respectively. (5) Adjusted items are generally taxed at the estimated annual effective tax rate, except for the applicable tax impact associated with Accelerating Aon United Program expenses, deferred consideration from a prior year sale of business, certain gains from dispositions, certain transaction and integration costs related to the acquisition of NFP, and changes in the fair value of contingent consideration, which are adjusted at the related jurisdictional rate. The tax adjustment also excludes interest accruals for income tax reserves related to the termination fee payment made in connection with the Company's terminated proposed combination with Willis Towers Watson. Aon plcCondensed Consolidated Statements of Financial PositionAs of (Unaudited) (millions) June 30,2025December 31,2024 Assets Current assets Cash and cash equivalents$ 1,008$ 1,085 Short-term investments379219 Receivables, net4,9053,803 Fiduciary assets (1)20,67717,566 Other current assets854759 Total current assets27,82323,432 Goodwill16,02415,234 Intangible assets, net6,7336,743 Fixed assets, net664637 Operating lease right-of-use assets735711 Deferred tax assets861654 Prepaid pension598556 Other non-current assets572998 Total assets$ 54,010$ 48,965Liabilities, redeemable noncontrolling interests, and equity Liabilities Current liabilities Accounts payable and accrued liabilities$ 2,294$ 2,905 Short-term debt and current portion of long-term debt1,837751 Fiduciary liabilities20,67717,566 Other current liabilities2,2671,773 Total current liabilities27,07522,995 Long-term debt15,45116,265 Non-current operating lease liabilities705685 Deferred tax liabilities363319 Pension, other postretirement, and postemployment liabilities1,0781,127 Other non-current liabilities1,2491,144 Total liabilities45,92142,535Redeemable noncontrolling interests81125Equity Ordinary shares - $0.01 nominal value Authorized: 500 shares (issued: 2025 – 215.7; 2024 - 216.0)22 Additional paid-in capital13,25813,173 Accumulated deficit(1,574)(2,309) Accumulated other comprehensive loss(3,843)(4,745) Total Aon shareholders' equity7,8436,121 Nonredeemable noncontrolling interests165184 Total equity8,0086,305 Total liabilities, redeemable noncontrolling interests and equity $ 54,010$ 48,965 (1) Includes cash and short-term investments of $8.3 billion and $7.2 billion as of June 30, 2025 and December 31, 2024, respectively. Aon plcCondensed Consolidated Statements of Cash Flows (Unaudited)Six Months Ended June 30, (millions) 20252024 Cash flows from operating activities Net income$ 1,576$ 1,631 Adjustments to reconcile net income to cash provided by operating activities: Gain from sales of businesses—(257) Depreciation of fixed assets9389 Amortization and impairment of intangible assets400144 Share-based compensation expense266247 Deferred income taxes(242)(122) Other, net(111)(112) Change in assets and liabilities: Receivables, net(902)(959) Accounts payable and accrued liabilities(738)(251) Accelerating Aon United Program liabilities1561 Current income taxes(73)60 Pension, other postretirement and postemployment liabilities(12)(17) Other assets and liabilities664308 Cash provided by operating activities936822 Cash flows from investing activities Proceeds from investments71146 Purchases of investments(42)(91) Net purchases (sales) of short-term investments - non fiduciary(153)189 Acquisition of businesses, net of cash and funds held on behalf of clients(143)(2,780) Sale of businesses, net of cash and funds held on behalf of clients119352 Capital expenditures(120)(101) Cash used for investing activities(268)(2,285) Cash flows from financing activities Share repurchase(500)(500) Proceeds from issuance of shares3327 Cash paid for employee taxes on withholding shares(194)(176) Commercial paper issuances, net of repayments480(591) Issuance of debt—7,926 Repayment of debt(300)(4,328) Increase in fiduciary liabilities, net of fiduciary receivables569283 Cash dividends to shareholders(308)(269) Redeemable and nonredeemable noncontrolling interests, and other financing activities(153)(108) Cash provided by (used for) financing activities(373)2,264 Effect of exchange rates on cash and cash equivalents and funds held on behalf of clients696(202) Net increase in cash and cash equivalents and funds held on behalf of clients991599 Cash, cash equivalents and funds held on behalf of clients at beginning of period8,3337,722 Cash, cash equivalents and funds held on behalf of clients at end of period$ 9,324$ 8,321 Reconciliation of cash and cash equivalents and funds held on behalf of clients: Cash and cash equivalents$ 1,008$ 974 Cash and cash equivalents and funds held on behalf of clients classified as held for sale138 Funds held on behalf of clients8,3157,309 Total cash and cash equivalents and funds held on behalf of clients$ 9,324$ 8,321 View original content: SOURCE Aon plc

Full list of 33 River Island shops set to SHUT as chain at risk of collapsing within just weeks
Full list of 33 River Island shops set to SHUT as chain at risk of collapsing within just weeks

Scottish Sun

time4 days ago

  • Business
  • Scottish Sun

Full list of 33 River Island shops set to SHUT as chain at risk of collapsing within just weeks

Drastic measure is floated to keep the brand alive SHOPPING MAUL Full list of 33 River Island shops set to SHUT as chain at risk of collapsing within just weeks Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) THE full list of River Island stores at risk of closure has been revealed – and it includes sites in major cities. Shops in Oxford, Edinburgh, Brighton and Leeds are facing the axe to prevent the iconic brand from collapsing. Sign up for Scottish Sun newsletter Sign up 1 River Island is fighting a battle for survival as customers move online to shop Credit: Getty The iconic fashion chain could reportedly run out of money in August if plans to shut the 33 stores and cut rents on a further 71 are not given the green light. The retailer has already revealed which 33 branches will shutter and has confirmed they will close in January. This does note affect which is continuing to trade. River Island is also looking to write off a series of debts, including those to landlords, to help keep the brand afloat. A formal restructuring plan written up by the chain's advisers, PwC, states that the chain will not be able to "continue trading" and would be "subject to administration or other insolvency proceedings" if plans are not approved. A spokesperson said: "River Island circulated its proposals for a Restructuring Plan to creditors on June 20th. "In combination with the company's ongoing Transformation Strategy, the Plan is a proactive measure to place the company on a firm footing. "We have been having positive conversations with key stakeholders and are confident that we will achieve approval of the Plan in the next few weeks." Major card chain with 163 shops launches closing down sales ahead of shutting its doors for good It comes amid a challenging time for the brand, as a rise in ultra-cheap fast fashion and low consumer spending has hit retail businesses hard. In a statement, issued last month, Ben Lewis, chief executive officer, said: "River Island is a much-loved retailer, with a decades-long history on the British high street. "However, the well-documented migration of shoppers from the high street to online has left the business with a large portfolio of stores that is no longer aligned to our customers' needs. "The sharp rise in the cost of doing business over the last few years has only added to the financial burden." Worsening financial position Accounts for River Island Clothing Co for the year ending December 30, 2023, showed the firm made a £33.2 million pre-tax loss. Then the turnover during the following 12 months fell by more than 19% to £578.1 million. The retailer's most recent accounts on Companies House also warned of worsening financial and operational risks. They said: "The key business risks for the group are the pressures of a highly competitive and changing retail environment combined with increased economic uncertainty. "A number of geopolitical events have resulted in continuing supply chain disruption as well as energy, labour and food price increases, driving inflation and interest rates higher and resulting in weaker disposable income and lower consumer confidence." In recent months, a number of stores have closed including in Corby, Banbury and Chesterfield.

RTA Completes Largest Overhaul of Ventilation and Air Conditioning Systems on Dubai Metro
RTA Completes Largest Overhaul of Ventilation and Air Conditioning Systems on Dubai Metro

Hi Dubai

time4 days ago

  • Business
  • Hi Dubai

RTA Completes Largest Overhaul of Ventilation and Air Conditioning Systems on Dubai Metro

The Roads and Transport Authority (RTA) has completed the second phase of the largest overhaul of ventilation and air conditioning (VAC) systems across Dubai Metro's Red and Green Line stations. A total of 876 units were upgraded without disrupting operations, enhancing passenger comfort and cooling efficiency as part of RTA's 2024–2030 Strategic Plan. Conducted by RTA's Rail Agency in collaboration with Keolis-MHI, the project is a key part of the authority's long-term commitment to operational excellence and customer happiness. The upgraded systems now maintain a stable temperature of 24–25°C across stations, providing a more comfortable environment during Dubai's intense summer heat. The second phase covered 14 Red Line stations and two car parks, following the successful completion of Phase 1, which involved 261 units across 13 stations. Key assets overhauled include air handling units (AHUs), fan coil units (FCUs), chilled water pumps, extract and smoke extract fans, and pressurisation units. Each was cleaned, refurbished, or replaced to restore performance to original design specifications. Work was carefully scheduled during off-peak hours and night shifts to avoid service disruptions. The upgrade programme spanned 10 months and focused on proactive maintenance to extend equipment lifespan and minimise the risk of failures during high-demand periods. Passenger comfort is a critical consideration for Dubai Metro, especially during summer when train doors open every 2–4 minutes and hot air continuously enters station areas. Ensuring VAC systems operate at full capacity is essential to delivering a consistently cool and safe environment for passengers. The project also focused on enhancing long-term energy efficiency. RTA is exploring advanced solutions, including a shift to variable flow technology, which could improve performance and sustainability across the network. Preparations have already begun for Phase 3 of the overhaul, targeting the remaining 25% of public-area FCUs, as well as critical AHUs located in back-of-house and technical areas. Experimental and verification works for the next phase began in mid-July 2025. The successful execution of this large-scale project was made possible through strategic coordination between RTA's Rail Agency and Keolis-MHI, the Dubai Metro and Tram operator. Their partnership continues to play a central role in maintaining high service standards and operational resilience. This ventilation and cooling upgrade reflects RTA's broader mission to enhance Dubai's public transport infrastructure, offering seamless and sustainable mobility while maintaining high passenger satisfaction. The project also aligns with Dubai's ambitions to be a global benchmark for integrated and future-ready urban transport systems. News Source: Dubai Media Office

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