Category: 3. Business

  • Port of Montreal strike: demonstration in downtown

    Port of Montreal strike: demonstration in downtown

    A hundred people joined a demonstration today in downtown Montreal. Gathering in front of the offices of Axium Infrastructure, the main shareholder of the Montréal Gateway Terminals Partnership (MGTP), demonstrators expressed solidarity with 32 MGTP agents that have been on strike since September 22, 2025. 

    “We had to bring the pressure to where the decision-makers were,” said CUPE representative Loïc Blanchard. “That’s why we’re here today. It’s time to come to an agreement, and our members want a fair settlement. The company is very profitable because of our members. The workers deserve better!”

    The last collective agreement for members expired on December 31, 2024. On September 11, members voted 96% in favour of a strike action.

    Discussions as of recent have come to a stalemate over contracting out and wages. Further, the employer has not agreed on the minimum operating requirements to keep the terminals running smoothly. The latest offer was rejected by a unanimous vote.

    The employer and the union are scheduled to take part in mediation on December 16 and 17.

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  • Enabling small language models to solve complex reasoning tasks | MIT News

    Enabling small language models to solve complex reasoning tasks | MIT News

    As language models (LMs) improve at tasks like image generation, trivia questions, and simple math, you might think that human-like reasoning is around the corner. In reality, they still trail us by a wide margin on complex tasks. Try playing Sudoku with one, for instance, where you fill in numbers one through nine in such a way that each appears only once across the columns, rows, and sections of a nine-by-nine grid. Your AI opponent will either fail to fill in boxes on its own or do so inefficiently, although it can verify if you’ve filled yours out correctly.

    Whether an LM is trying to solve advanced puzzles, design molecules, or write math proofs, the system struggles to answer open-ended requests that have strict rules to follow. The model is better at telling users how to approach these challenges than attempting them itself. Moreover, hands-on problem-solving requires LMs to consider a wide range of options while following constraints. Small LMs can’t do this reliably on their own; large language models (LLMs) sometimes can, particularly if they’re optimized for reasoning tasks, but they take a while to respond, and they use a lot of computing power.

    This predicament led researchers from MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL) to develop a collaborative approach where an LLM does the planning, then divvies up the legwork of that strategy among smaller ones. Their method helps small LMs provide more accurate responses than leading LLMs like OpenAI’s GPT-4o, and approach the precision of top reasoning systems such as o1, while being more efficient than both. Their framework, called “Distributional Constraints by Inference Programming with Language Models” (or “DisCIPL”), has a large model steer smaller “follower” models toward precise responses when writing things like text blurbs, grocery lists with budgets, and travel itineraries.

    The inner workings of DisCIPL are much like contracting a company for a particular job. You provide a “boss” model with a request, and it carefully considers how to go about doing that project. Then, the LLM relays these instructions and guidelines in a clear way to smaller models. It corrects follower LMs’ outputs where needed — for example, replacing one model’s phrasing that doesn’t fit in a poem with a better option from another.

    The LLM communicates with its followers using a language they all understand — that is, a programming language for controlling LMs called “LLaMPPL.” Developed by MIT’s Probabilistic Computing Project in 2023, this program allows users to encode specific rules that steer a model toward a desired result. For example, LLaMPPL can be used to produce error-free code by incorporating the rules of a particular language within its instructions. Directions like “write eight lines of poetry where each line has exactly eight words” are encoded in LLaMPPL, queuing smaller models to contribute to different parts of the answer.

    MIT PhD student Gabriel Grand, who is the lead author on a paper presenting this work, says that DisCIPL allows LMs to guide each other toward the best responses, which improves their overall efficiency. “We’re working toward improving LMs’ inference efficiency, particularly on the many modern applications of these models that involve generating outputs subject to constraints,” adds Grand, who is also a CSAIL researcher. “Language models are consuming more energy as people use them more, which means we need models that can provide accurate answers while using minimal computing power.”

    “It’s really exciting to see new alternatives to standard language model inference,” says University of California at Berkeley Assistant Professor Alane Suhr, who wasn’t involved in the research. “This work invites new approaches to language modeling and LLMs that significantly reduce inference latency via parallelization, require significantly fewer parameters than current LLMs, and even improve task performance over standard serialized inference. The work also presents opportunities to explore transparency, interpretability, and controllability of model outputs, which is still a huge open problem in the deployment of these technologies.”

    An underdog story

    You may think that larger-scale LMs are “better” at complex prompts than smaller ones when it comes to accuracy and efficiency. DisCIPL suggests a surprising counterpoint for these tasks: If you can combine the strengths of smaller models instead, you may just see an efficiency bump with similar results.

    The researchers note that, in theory, you can plug in dozens of LMs to work together in the DisCIPL framework, regardless of size. In writing and reasoning experiments, they went with GPT-4o as their “planner LM,” which is one of the models that helps ChatGPT generate responses. It brainstormed a plan for several “Llama-3.2-1B” models (smaller systems developed by Meta), in which those LMs filled in each word (or token) of the response.

    This collective approach competed against three comparable ones: a follower-only baseline powered by Llama-3.2-1B, GPT-4o working on its own, and the industry-leading o1 reasoning system that helps ChatGPT figure out more complex questions, such as coding requests and math problems.

    DisCIPL first presented an ability to write sentences and paragraphs that follow explicit rules. The models were given very specific prompts — for example, writing a sentence that has exactly 18 words, where the fourth word must be “Glasgow,” the eighth should be “in”, and the 11th must be “and.” The system was remarkably adept at handling this request, crafting coherent outputs while achieving accuracy and coherence similar to o1.

    Faster, cheaper, better

    This experiment also revealed that key components of DisCIPL were much cheaper than state-of-the-art systems. For instance, whereas existing reasoning models like OpenAI’s o1 perform reasoning in text, DisCIPL “reasons” by writing Python code, which is more compact. In practice, the researchers found that DisCIPL led to 40.1 percent shorter reasoning and 80.2 percent cost savings over o1.

    DisCIPL’s efficiency gains stem partly from using small Llama models as followers, which are 1,000 to 10,000 times cheaper per token than comparable reasoning models. This means that DisCIPL is more “scalable” — the researchers were able to run dozens of Llama models in parallel for a fraction of the cost.

    Those weren’t the only surprising findings, according to CSAIL researchers. Their system also performed well against o1 on real-world tasks, such as making ingredient lists, planning out a travel itinerary, and writing grant proposals with word limits. Meanwhile, GPT-4o struggled with these requests, and with writing tests, it often couldn’t place keywords in the correct parts of sentences. The follower-only baseline essentially finished in last place across the board, as it had difficulties with following instructions.

    “Over the last several years, we’ve seen some impressive results from approaches that use language models to ‘auto-formalize’ problems in math and robotics by representing them with code,” says senior author Jacob Andreas, who is an MIT electrical engineering and computer science associate professor and CSAIL principal investigator. “What I find most exciting about this paper is the fact that we can now use LMs to auto-formalize text generation itself, enabling the same kinds of efficiency gains and guarantees that we’ve seen in these other domains.” 

    In the future, the researchers plan on expanding this framework into a more fully-recursive approach, where you can use the same model as both the leader and followers. Grand adds that DisCIPL could be extended to mathematical reasoning tasks, where answers are harder to verify. They also intend to test the system on its ability to meet users’ fuzzy preferences, as opposed to following hard constraints, which can’t be outlined in code so explicitly. Thinking even bigger, the team hopes to use the largest possible models available, although they note that such experiments are computationally expensive.

    Grand and Andreas wrote the paper alongside CSAIL principal investigator and MIT Professor Joshua Tenenbaum, as well as MIT Department of Brain and Cognitive Sciences Principal Research Scientist Vikash Mansinghka and Yale University Assistant Professor Alex Lew SM ’20 PhD ’25. CSAIL researchers presented the work at the Conference on Language Modeling in October and IVADO’s “Deploying Autonomous Agents: Lessons, Risks and Real-World Impact” workshop in November.

    Their work was supported, in part, by the MIT Quest for Intelligence, Siegel Family Foundation, the MIT-IBM Watson AI Lab, a Sloan Research Fellowship, Intel, the Air Force Office of Scientific Research, the Defense Advanced Research Projects Agency, the Office of Naval Research, and the National Science Foundation.

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  • American Nuclear Society names Penn State professor to 40 under 40 list

    American Nuclear Society names Penn State professor to 40 under 40 list

    UNIVERSITY PARK, Pa. — Stefano Terlizzi, J. Brennan Early Career Professor of Nuclear Engineering at Penn State and a joint appointee at Idaho National Laboratory (INL), was named to the American Nuclear Society’s 2025 40 Under 40 list. This honor recognizes rising leaders whose work is advancing the future of nuclear science and technology. 

    The ANS 40 Under 40 program highlights individuals making meaningful contributions across the nuclear sector, from advanced reactor development and fuel cycle innovation to policy, modeling and space applications. Terlizzi’s selection places him among a cohort of early-career professionals whose work is helping shape a new era for nuclear energy at a time of rapid technological and generational change. 

    Terlizzi, 35, leads research in multiphysics simulation for microreactors and advanced reactor systems. He developed the first simulation predicting hydrogen redistribution in microreactors and led advanced modeling and simulation tools developed by the U.S. Department of Energy’s (DOE) Nuclear Energy Advanced Modeling and Simulation (NEAMS) program for the Microreactor Applications Research Validation and Evaluation (MARVEL) reactor project. He also founded Penn State’s Computational Reactor Engineering and Analysis (CREA) Lab and contributes to modernizing reactor physics education as part of DOE-supported initiatives. 

    “I’m very proud to serve as a faculty member at Penn State while collaborating with INL,” Terlizzi said in an ANS article. “Both institutions have a strong tradition of civilian nuclear applications, and I enjoy working with bright, enthusiastic students and colleagues to advance the field.” 

    Terlizzi said his interest in nuclear science began at an early age in his hometown of Turin, Italy. At seven, he watched the science documentary “L’Universo,” featuring Piero Angela, which introduced him to nuclear propulsion and sparked a lifelong fascination with energy and space exploration. 

    Reflecting on his career, Terlizzi highlighted the importance of mentorship and collaboration.  

    “I’ve been lucky to learn from many outstanding mentors,” Terlizzi said. “Dan Kotlyar, my doctoral advisor at Georgia Tech, emphasized consistency and practical solutions. At INL, Mark DeHart set the standard for excellent mentorship, and professors like Elia Merzari, Jon Schwantes and Arthur Motta have been invaluable in helping me navigate academia.” 

    Terlizzi is a world-class reactor physicist, according to Merzari. 

    “He has integrated seamlessly into the Penn State nuclear engineering community,” Merzari said. “We are incredibly fortunate to have him among us. It has been wonderful to see him grow so quickly into a key member of our faculty, excelling in teaching, research and service.” 

    Terlizzi’s career combines technical innovation with educational leadership. Through the CREA Lab, he fosters research on advanced reactor design while preparing the next generation of reactor physicists and nuclear engineers. His work integrates cutting-edge computational modeling with hands-on training in reactor physics, providing students with unique opportunities to engage with DOE-supported initiatives. 

    Looking forward, Terlizzi said his goals include mentoring emerging talent in nuclear engineering and contributing to the realization of advanced reactor designs. His advice for others who wish to have an impact on the field is simple: “Keep doing your work with integrity, and your time will come,” he said. 

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  • For Families Battling Brain Cancer, New Treatment Brings Hope

    For Families Battling Brain Cancer, New Treatment Brings Hope

    One month after seizing on the field, Avery passed away at home surrounded by her family.

    Following the soccer match, doctors had given her a high dose of dexamethasone, a strong anti-inflammatory medication that allowed the family to bring their daughter home from the hospital. “It snapped her out of it and brought her back,” says Paul. “It bought us a month and a day to make a lot of memories and give us all a chance to say goodbye.”

    The Lafferty family made casts of their hands held together and heartbeat recordings. Avery wrote messages to her loved ones, even as the cancer spread to other parts of her brain and made it difficult to process her thoughts. “We wouldn’t trade that month for anything,” says Paul.

    On July 12, 2024, Avery’s family told her that it was okay to rest and that they would see her again one day. Her legacy lives on through Avery’s Little Army, which is striving to spread awareness about pediatric cancer, fund research, and support local families with their own battles. They have raised over $250,000 for organizations including Children’s Brain Tumor Project, The Cure Starts Now, the ChadTough Defeat DIPG Foundation, and Dana-Farber Cancer Institute.

    The family hopes that drugs like KL-50 could soon help pediatric patients with glioblastoma who otherwise have few options. “It’s stunning when you hear your child has a diagnosis like this and you realize there’s nothing out there,” says Lisa. “What we love about Dr. Bindra is he always seemed innovative and knew this was a massive gap that needed to be funded.”

    Paul says that the passionate doctors and researchers that the family came to know through Avery’s battle give him hope that one day there will be better treatments. “The soccer player is doing everything he can to win the game—that’s how these individuals do their research,” he explains. “It’s beyond just a paycheck for them. The passion they have to try to find a cure for these diseases is impressive.”

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  • IMF Executive Board Completes the Fifth Reviews under the Extended Credit Facility (ECF) and Extended Fund Facility (EFF), and Second Review under the Resilience and Sustainability Facility (RSF) for Papua New Guinea

    IMF Executive Board Completes the Fifth Reviews under the Extended Credit Facility (ECF) and Extended Fund Facility (EFF), and Second Review under the Resilience and Sustainability Facility (RSF) for Papua New Guinea

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the Fifth Reviews under the Extended Fund Facility (EFF) and Extended Credit Facility (ECF) arrangements, and the Second Review under the Resilience and Sustainability Facility (RSF) arrangement for Papua New Guinea. The completion of these reviews allows for the immediate disbursement of SDR 121.07 million (about US$165 million) under the ECF/EFF arrangements and SDR 39.48 million (about US$54 million) under the RSF arrangement, bringing total disbursements under the IMF-supported programs so far to SDR 622.48 million (about US$851 million).

    The ECF/EFF arrangements with Papua New Guinea were approved by the Executive Board on March 22, 2023, in an overall amount equivalent to SDR 684.32 million (260 percent of quota) to help address a protracted balance of payments need—manifested in foreign exchange shortages—and to support the authorities’ reforms to address longstanding structural impediments to inclusive growth. The 24-month RSF arrangement, which was approved by the Executive Board on December 11, 2024, in an overall amount of SDR 197.4 million (75 percent of quota), aims to help address risks to prospective balance of payments stability associated with longer-term structural challenges posed by climate change.

    Papua New Guinea’s economic outlook remains positive as structural reforms continue to bear fruit. Growth is projected to reach 4.5 percent in 2025, driven by increased production in the resource sector and resilient growth in the non-resource sector supported by improvements in access to foreign exchange and favorable agricultural production. Headline inflation is expected to rebound to 3.8 percent in 2025 from a very low base in 2024 as the drag from the low betel nut prices eases. Over the medium term, growth is expected to moderate and stabilize at just above 3 percent, driven mainly by continued expansion of non-resource sector activities, with inflation converging to around 4.5 percent.

    The outlook is subject to high uncertainty, with risks tilted to the downside, as Papua New Guinea remains vulnerable to both domestic and external shocks. These risks are exacerbated by considerable capacity constraints and socio-political fragility that limit the government’s ability to design and implement policies aimed at economic stabilization, development, and climate adaptation. Commodity price volatility, as well as global risks arising from geopolitical conflicts, escalating protectionist trade measures, prolonged uncertainty, and decline in international aid could create additional pressure on growth and inflation. On the upside, the kickoff of major resource projects, which are not yet in the baseline scenario, could boost economic growth in the near and medium run, with significant gains in exports once operations commence.

    Program performance has remained satisfactory, with the authorities displaying a sustained commitment to reforms. All but one quantitative performance criteria and all indicative targets for end-June 2025 under the ECF-EFF arrangements were met, whilst all but one indicative targets for end-September 2025 were met. The Executive Board approved a waiver of nonobservance of the quantitative performance criteria on the fiscal deficit of the government for end-June 2025, based on the minor nature of the nonobservance and the corrective actions taken by the authorities. All five structural benchmarks due were met or implemented with delay and one structural benchmark due for the next reviews already met. Two reform measures under the RSF arrangement were implemented.

    At the conclusion of the Executive Board’s discussion, Mr. Bo Li, Deputy Managing Director, and Acting Chair, made the following statement:

    “The Papua New Guinea (PNG) authorities have accomplished steady progress in implementing their homegrown reform agenda under the Fund-supported programs. Sustained commitment to these reforms will help rebuild policy buffers, address the country’s long-standing structural challenges, and secure a more resilient, inclusive, and greener economic growth.

    “The authorities have been successfully reducing the fiscal deficit, with additional consolidation efforts envisaged in the 2026 budget. Steps to durably increase revenue mobilization, consistent with the authorities’ Medium-Term Revenue Strategy, further contain the growth of current spending, and improve expenditure efficiency would help reduce public debt vulnerabilities. At the same time, protecting social and capital spending, strengthening debt management capacity, and modernizing cash management practices are also essential.

    “Access to foreign exchange has improved significantly in recent months thanks to central banking reforms, increased flexibility of the Kina, and favorable external conditions. The current crawl-like arrangement remains appropriate to tackle the overvaluation of the Kina and facilitate its return to convertibility. A tighter monetary policy stance, through timely adjustments in the Kina Facility Rate, is needed to ensure consistency between monetary policy and the exchange rate regime. Additional steps to modernize monetary policy operations, strengthen the Bank of PNG’s liquidity management capacity, develop the interbank market, and contain financial stability risks would help to support financial sector development.

    “Further efforts to promote good governance and enhance the effectiveness of anti-money laundering and countering financing of terrorism framework are critical to support the business environment. Delivering tangible and long-lasting results in the fight against corruption will be key to reinforcing the credibility of the Independent Commission Against Corruption.

    “Building resilience to climate-related risks is crucial for achieving high and inclusive growth. The program supported by the Resilience and Sustainability Facility focuses on strengthening disaster risk management, integrating climate considerations in infrastructure governance, developing climate finance, and setting up incentives for forest protection and fuel efficiency will help attaining these objectives.”

     

    Table 1. Papua New Guinea: Selected Economic and Financial Indicators, 2021–2030

    Nominal GDP (2024):   

    US$31.5 billion 1/

     

     

     

     

     

     

     

     

     

     

    Population (2024):         

    10.1 million

     

     

     

     

     

     

     

     

     

     

    GDP per capita (2024): 

    US$3,118

     

     

     

     

     

     

     

     

     

     

    Quota:

    SDR 263.2 million

     

     

     

     

     

     

     

     

     

     

     

     

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    2030

     

     

    Actual

    Actual

    Actual

    Est.

    Proj.

    Proj.

    Proj.

    Proj.

    Proj.

    Proj.

     

     

    (Percentage change)

     

     

    Real sector

     

     

     

     

     

     

     

     

     

     

     

    Real GDP growth

     

    -0.5

    5.7

    3.8

    3.8

    4.5

    4.0

    3.1

    3.1

    3.1

    3.1

    Resource 2/

     

    -11.6

    5.1

    1.3

    1.8

    4.3

    2.5

    0.1

    0.2

    0.2

    0.2

    Non-resource

     

    4.2

    5.9

    4.7

    4.5

    4.6

    4.5

    4.1

    4.1

    4.0

    4.0

    Mining and quarrying (percent of GDP)

    8.2

    8.2

    8.5

    9.9

    13.6

    15.1

    15.1

    14.8

    14.4

    14.1

    Oil and gas extraction (percent of GDP)

    17.1

    23.7

    18.9

    18.3

    14.9

    13.8

    13.3

    12.5

    11.9

    11.2

    CPI (annual average)

     

    4.5

    5.3

    2.3

    0.6

    3.8

    4.2

    4.7

    4.5

    4.5

    4.5

    CPI (end-period)

     

    5.7

    3.4

    3.9

    0.7

    2.8

    4.9

    4.5

    4.5

    4.5

    4.5

     

     

    (In percent of GDP)

     

     

    Central government operations

     

     

     

     

     

     

     

     

     

     

    Revenue and grants

     

    15.1

    16.6

    17.9

    17.1

    18.1

    18.6

    19.1

    19.2

    19.4

    19.5

    Of which: Resource revenue

    1.1

    3.9

    3.9

    3.5

    4.4

    4.4

    4.6

    4.6

    4.6

    4.6

    Expenditure and net lending

    22.0

    21.9

    22.3

    20.4

    20.8

    19.8

    19.0

    18.9

    19.0

    18.9

    Net lending(+)/borrowing(-)

    -6.8

    -5.3

    -4.3

    -3.2

    -2.6

    -1.2

    0.0

    0.2

    0.4

    0.5

    Non-resource net lending(+)/borrowing(-)

    -8.0

    -9.1

    -8.2

    -6.7

    -7.0

    -5.5

    -4.5

    -4.3

    -4.2

    -4.0

     

     

    (Percentage change)

     

     

    Money and credit

     

     

     

     

     

     

     

     

     

     

     

    Domestic credit

     

    15.9

    1.5

    12.1

    1.6

    7.3

    -0.1

    5.8

    -0.2

    5.4

    4.6

    Credit to the private sector

     

    2.5

    6.9

    14.9

    3.2

    3.9

    11.9

    9.2

    8.5

    11.1

    6.1

    Broad money

     

    13.4

    14.7

    9.9

    -6.4

    -5.3

    9.1

    9.3

    -4.5

    10.3

    14.6

     

     

    (In billions of U.S. dollars)

     

     

    Balance of payments

     

     

     

     

     

     

     

     

     

     

     

    Exports, f.o.b.

     

    10.8

    14.6

    12.8

    13.4

    14.8

    15.2

    15.9

    16.8

    17.8

    18.7

    Imports, c.i.f.

     

    -4.4

    -5.9

    -5.4

    -4.6

    -5.9

    -6.7

    -7.0

    -7.4

    -7.7

    -8.0

    Current account (including grants)

    3.3

    4.6

    2.8

    5.0

    4.4

    4.3

    4.0

    4.0

    3.9

    3.8

        (In percent of GDP)

     

    12.6

    14.4

    9.1

    15.8

    13.8

    12.9

    11.6

    11.3

    10.8

    10.0

    Gross official international reserves

    3.2

    4.0

    3.9

    3.7

    3.0

    3.5

    3.7

    3.2

    3.3

    3.9

        (In months of goods and services imports)

    4.5

    5.9

    6.7

    5.6

    3.7

    4.3

    4.3

    3.6

    3.7

    4.2

     

     

    (In percent of GDP)

     

     

    Government debt

     

     

     

     

     

     

     

     

     

     

     

    Government gross debt

     

    52.6

    48.2

    53.9

    52.1

    51.8

    49.6

    46.8

    44.1

    41.5

    38.7

    External debt-to-GDP ratio (in percent) 3/

    25.0

    23.5

    27.0

    27.4

    29.2

    30.0

    28.0

    27.5

    25.9

    23.8

    External debt-service ratio (percent of exports)

    4.3

    2.2

    2.7

    3.4

    4.5

    5.4

    5.6

    8.9

    3.6

    3.3

     

     

     

     

     

     

     

     

     

     

     

    Memo Items

     

     

     

     

     

     

     

     

     

     

     

    US$/kina (end-period)

     

    0.2850

    0.2840

    0.2683

    0.2500

    NEER (2005=100, fourth quarter)

    91.2

    100.3

    95.3

    89.3

    REER (2005=100, fourth quarter)

    125.3

    134.6

    129.0

    119.5

    Terms of trade (2010=100, end-period)

    48.3

    70.4

    63.8

    67.4

    70.9

    71.7

    73.6

    74.3

    74.7

    75.4

    Nominal GDP (in billions of kina)

    91.6

    111.4

    110.6

    121.5

    132.7

    144.6

    153.4

    162.6

    172.5

    183.2

    Non-resource nominal GDP (in billions of kina)

    68.4

    75.9

    80.3

    87.3

    94.9

    102.8

    109.9

    118.2

    127.1

    136.9

    Sources: Papua New Guinea authorities; and IMF staff estimates and projections.           

    1/ Based on period average exchange rate.  

    2/ Resource sector includes production of mineral, petroleum, and gas and directly-related activities such as mining and quarrying, but excludes indirectly-related activities such as transportation and construction.

    3/ Public external debt includes external debt of the central government, the central bank, and guarantees to other entities.

                                   

     

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  • Lauren Kickel Chosen for FDCC Ladder Down Cleveland Class of 2026

    Lauren Kickel Chosen for FDCC Ladder Down Cleveland Class of 2026

    Lauren Kickel, a member of the Vorys intellectual property (IP) group, was chosen to take part in the Federation of Defense & Corporate Counsel (FDCC) Ladder Down Cleveland Class of 2026. 

    According to the FDCC, Ladder Down is a “program dedicated to leadership empowerment, business development, and mentoring — each of which is critical for women lawyers to better position themselves for success.”  The yearlong course includes monthly group trainings and a four-month business development “bootcamp.”  Sessions include panel discussions with national corporate clients, local judges and other legal industry leaders.

    Kickel’s practice consists of IP litigation with a particular focus in patent infringement, including software and mobile applications, medical products, personal products as well as apparatuses, systems and processes relevant to the energy industry.

    About Vorys: Vorys was established in 1909 and currently has nearly 375 attorneys in 10 offices in Ohio, Washington, D.C., Texas, Pennsylvania, California, London and Berlin.  Vorys currently ranks as one of the 200 largest law firms in the United States according to American Lawyer magazine.  Learn more at vorys.com.

    About FDCC: The Federation of Defense & Corporate Counsel is a group of leaders in the legal community, “dedicated to promoting knowledge, fellowship and professionalism” in the pursuit of a more balanced justice system.

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  • Losses for the Dollar After the Fed Cuts as Expected

    Losses for the Dollar After the Fed Cuts as Expected

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  • IMF Executive Board Completes the Fourth Review under the Extended Fund Facility and First Review under the Resilience and Sustainability Facility Arrangements for Jordan

    IMF Executive Board Completes the Fourth Review under the Extended Fund Facility and First Review under the Resilience and Sustainability Facility Arrangements for Jordan

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) today completed the fourth review of the arrangement under the Extended Fund Facility (EFF) and the first review of the Resilience and Sustainability Facility (RSF) arrangement. Jordan’s four-year EFF arrangement, with access amounting to SDR 926.37 million (about US$1.3 billion, equivalent to 270 percent of Jordan’s quota in the IMF), was approved by the IMF Executive Board on January 10, 2024 (see Press Release No. 24/004). This decision allows for an immediate purchase of an amount equivalent to SDR 97.784 million (about US$130 million), bringing the total purchases under the EFF arrangement to the equivalent of SDR 535.238 million (about US$733 million). In addition, the Resilience and Sustainability Facility (RSF) for Jordan was approved on June 25, 2025 (see Press Release No. 25/221), with access to SDR 514.65 million (about US$700 million, equivalent to 150 percent of Jordan’s quota). The Board’s decision will also allow the disbursement of SDR 79.182 million (about US$110 million) under the RSF.

    Jordan’s economy remains resilient, supported by sound macroeconomic policies and strong international backing. Growth accelerated to 2.7 percent in the first half of 2025 and is expected to reach 3 percent in the coming years, aided by major investment projects, deeper regional integration, and sustained implementation of structural reforms. Inflation stays anchored at about 2 percent, and the current account deficit is projected to narrow to below 5 percent of GDP over the medium term. The banking sector is stable, and international reserves are strong.

    Fiscal performance remains in line with program targets, with robust revenue collection and current spending discipline. The authorities are committed to reducing public debt to 80 percent of GDP by 2028 through gradual fiscal consolidation and further actions to lower the losses of public utilities, while protecting social and development spending.

    The authorities are determined to step up the pace of structural reforms to achieve stronger growth and generate more jobs. Reforms are advancing to boost investment, foster competition, improve labor market flexibility, and strengthen the social safety net, alongside digitalization of government services.

    Progress under the RSF continues, with measures addressing vulnerabilities in water and electricity sectors and enhancing health emergency preparedness. The two RSF Reform Measures scheduled for this review have been completed.

    Following the Executive Board discussion, Kenji Okamura, Deputy Managing Director and Chair, made the following statement:

    “Jordan’s continued macroeconomic stability and resilience amid persistent external headwinds are a testament to the authorities’ steadfast pursuit of sound policies, aided by strong international support. Growth continues to recover, inflation remains low, and reserve buffers are strong. In the context of lingering regional tensions and global uncertainty, the authorities continued commitment to sound fiscal and monetary policies to safeguard macroeconomic stability is important.

    “The authorities continue to make progress on gradual and growth-friendly fiscal consolidation. The recalibrated fiscal stance for 2026 is appropriate. Gradual fiscal consolidation, supported by the authorities’ Medium-Term Revenue Strategy and enhanced spending efficiency would help to place public debt on a downward path, while protecting social and capital spending. Efforts to maintain the long-term financial sustainability of the pension system and improve the efficiency and financial viability of public utilities are crucial.

    “Monetary policy remains appropriately focused on safeguarding monetary and financial stability and supporting the exchange rate peg that continues to serve Jordan well. Jordan’s banking sector remains healthy, and the central bank continues to strengthen its systemic risk analysis, financial sector oversight, and crisis management. Ongoing efforts to further strengthen the effectiveness of the AML/CFT framework are welcome.   

    “Accelerated structural reforms are crucial to create a dynamic and resilient private sector and foster job-rich growth. The authorities are focused on measures to improve the business environment, promote competition, enhance labor market flexibility to address youth unemployment and low female labor force participation, and attract private investment. Strong and timely donor support remains essential to help Jordan navigate the challenging external environment and meet its development objectives, while shouldering the cost of hosting a large number of refugees.

    “The solid progress of implementing the reform measures under the Resilience and Sustainability Facility will help to support the authorities’ efforts to address long-term economic vulnerabilities and strengthen Jordan’s balance of payments stability.”

     

     

    Jordan: Selected Economic Indicators, 2024-2027

     

     

    2024

    2025

    2026

    2027

     

     

     

    Proj.

    Proj.

    Proj.

               

    Output and Prices

    (Annual percentage change, unless otherwise noted)

    Real GDP growth

    2.5

    2.7

    2.9

    3.0

    GDP deflator

    1.9

    2.3

    2.4

    2.3

    Nominal GDP (JD billions)

    41.6

    43.7

    46.1

    48.6

    Consumer price inflation (annual average)

    1.6

    1.9

    2.2

    2.2

    Unemployment rate (percent) 1/

    21.4

    Fiscal Operations

    (in percent of GDP, unless otherwise noted)

    Revenue and grants

    22.7

    22.8

    23.6

    23.9

    Of which: grants

    1.7

    1.7

    1.6

    1.4

    Expenditure 2/

    28.5

    28.1

    28.3

    28.2

    Overall central government balance 3/

    -5.9

    -5.3

    -4.8

    -4.3

    Primary government balance (excluding grants)

    -2.6

    -1.9

    -1.3

    -0.5

    Combined public sector balance 4/

    -4.0

    -3.2

    -2.6

    -1.6

    Government and guaranteed gross debt 5/

    106.1

    108.6

    108.1

    108.0

    Government and guaranteed gross debt, net of SSC’s holdings 5/

    82.1

    83.4

    82.0

    81.3

    External Sector

    (in percent of GDP, unless otherwise noted)

    Current account balance (including grants)

    -5.8

    -5.1

    -5.7

    -5.5

    Foreign Direct Investment

     

    2.7

    3.0

    3.0

    3.0

    Gross usable international reserves ($ billions) 6/

    20.3

    20.7

    21.4

    21.8

    In months of imports

    7.7

    7.3

    7.2

    7.0

    In percent of the IMF’s Reserve Adequacy Metric

    112

    107

    105

    104

               

    Sources: Jordanian authorities; and Fund staff estimates and projections.

           

    1/ Unemployment rate for Jordanians only (excluding foreign residents).

    2/ Includes other use of cash (i.e. off-budget expenditures).

       

    3/ Includes statistical discrepancy.

     

    4/ Defined as the sum of the primary central government balance (excl. grants and transfers to NEPCO and WAJ), NEPCO operating balance, and consolidated water sector balance.

    5/ Government’s direct and guaranteed debt (including NEPCO and WAJ debt). SSC stands for Social Security Corporation.

    6/ Including gold and excluding commercial banks’ FX deposits at the CBJ, bilateral accounts, and forward contracts. Including RSF.

     

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  • Pirtobrutinib Outperforms Bendamustine-Rituximab in Frontline CLL/SLL

    Pirtobrutinib Outperforms Bendamustine-Rituximab in Frontline CLL/SLL

    Patients with treatment-naïve chronic lymphocytic leukemia (CLL) or small lymphocytic leukemia (SLL) who received pirtobrutinib (Jaypirca; Eli Lilly) monotherapy showed an 80% reduction in progression-free survival (PFS) compared with patients receiving bendamustine plus rituximab (BendaR) in the phase 3 BRUIN CLL-313 (NCT05023980) trial.1

    Wojciech Jurczak, MD, PhD, head of the department of oncology at Maria Sklodowska-Curie National Research Institute of Oncology in Warsaw, Poland, presented the data during a late-breaking abstract session at the 67th American Society of Hematology (ASH) Annual Meeting and Exposition.

    As targeted therapies have become the standard in CLL, these new data provide insights into pirtobrutinib monotherapy’s potential in the first-line setting, which historically has not included non-covalent BTK inhibitors.2 Following its initial accelerated approval in 2023 for patients with CLL or SLL who had received at least 2 prior therapies, including a BTK inhibitor and a BCL-2 inhibitor, pirtobrutinib was recently granted full approval for patients with CLL or SLL in the relapsed/refractory setting who had previously received a covalent BTK inhibitor.3 The former approval was based on findings from the BRUIN (NCT03740529) and the latter based on the BRUIN-CLL-321 (NCT04666038).

    “While covalent BTK inhibitors have significantly improved outcomes for untreated patients with CLL, at the time of the study design, there were no phase 3 data yet assessing non-covalent BTK inhibitors, especially in the treatment-naïve setting,” Jurczak said during his presentation of the data. He noted that findings from the head-to-head trial BRUIN CLL-314 (NCT05254743), also presented at ASH this year, demonstrated pirtobrutinib’s superiority to the first-generation BTK inhibitor ibrutinib in the first-line setting.4

    In the open-label, global phase 3 BRUIN CLL-313 trial, 282 patients were randomized 1:1 to receive either pirtobrutinib (n = 141) or BendaR (n = 141), with the opportunity for patients in the BendaR arm to cross over to the pirtobrutinib arm upon confirmed disease progression.1 The primary end point was an independent review committee (IRC)–assessed PFS per International Workshop on Chronic Lymphocytic Leukemia 2018 criteria. The key secondary end point was overall survival (OS), and additional end points included overall response rate (ORR) and safety measures.

    At a median follow-up of 28.1 months, the pirtobrutinib arm showed significantly improved IRC-assessed PFS vs the BendaR arm (HR, 0.199; 95% CI, 0.107-0.367; P < .0001), and investigator-assessed PFS was consistent with these findings (HR, 0.186; 95% CI, 0.093-0.371; P < .0001). For patients on pirtobrutinib, the 24-month PFS rate was 93.4% (95% CI, 87.6-96.5) vs 70.7% (95% CI, 61.5-78.1) in the BendaR arm.

    Across prespecified, clinically relevant subgroups, IRC-assessed PFS improvement was consistent. This included among patients with mutated and unmutated IGHV (HR for mutated IGHV, 0.293; 95% CI, 0.094-0.910) and HR for unmutated IGHV, 0.172; 95% CI, 0.083-0.357).

    The IRC-assessed ORR with pirtobrutinib was 94.3% (95% CI, 89.1%-97.5%) vs 80.9% (95% CI, 73.4%-87%) with BendaR. While the OS data were not mature yet at the interim analysis, the pirtobrutinib cohort demonstrated a notable favorable trend in OS, with an HR of 0.257 (95% CI, 0.070-0.934; P = .0261) compared with BendaR. This was despite 18 of 34 patients with investigator-assessed progressive disease crossing over, representing an effective crossover rate of 52.9%.

    Pirtobrutinib also showed a favorable safety profile relative to BendaR, with 40% incidence of grade 3 or higher treatment-emergent adverse effects (TEAEs) vs 67.4% with BendaR. Notably, median treatment duration was 32.3 months for 140 patients receiving pirtobrutinib and 5.6 months for 132 patients receiving BendaR.

    Grade 5 TEAEs occurred in 1 patient in the pirtobrutinib arm and 4 patients in the BendaR arm. No grade 5 TEAEs were considered treatment-related in the pirtobrutinib arm, and 1—tumor lysis syndrome—was considered treatment-related in the BendaR arm. A total of 6 (4.3%) patients discontinued treatment with pirtobrutinib due to TEAEs, compared with 20 (15.2%) in the BendaR cohort.

    “To conclude, pirtobrutinib had a superior progression-free survival vs bendamustine plus rituximab patients with treatment-naïve chronic lymphocytic leukemia, with one of the largest treatment effects ever observed for a single-agent BTK inhibitor against this competitor,” Jurczak said. “…These data suggest that pirtobrutinib may be considered a potential new standard of care for patients with untreated CLL, especially for the elderly or frail patients who may only receive one line of therapy.”

    References

    1. Jurczak W, Kwiatek M, Czyz J, et al. Pirtobrutinib vs bendamustine plus rituximab (BR) in patients with CLL/SLL: first results from a randomized phase III study examining a non-covalent BTK inhibitor in untreated patients. Presented at: 67th American Society of Hematology Annual Meeting & Exposition, December 6-9, 2025; Orlando, FL. Abstract LBA-3.

    2. Targeted therapy drugs for chronic lymphocytic leukemia (CLL). American Cancer Society. Accessed December 12, 2025. https://www.cancer.org/cancer/types/chronic-lymphocytic-leukemia/treating/targeted-therapy.html

    3. Steinzor P. FDA grants full approval to pirtobrutinib for CLL/SLL. AJMC. December 3, 2025. Accessed December 12, 2025. https://www.ajmc.com/view/fda-grants-full-approval-to-pirtobrutinib-for-cll-sll

    4. Woyach J, Qui L, Grosicki S, et al. Pirtobrutinib vs ibrutinib in treatment-naïve and relapsed/refractory CLL/SLL: results from the first randomized phase III study comparing a non-covalent and covalent BTK inhibitor. Presented at: 67th American Society of Hematology Annual Meeting & Exposition, December 6-9, 2025; Orlando, FL. Poster 683.

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  • Human Cooks Go Head-to-Head With AI-Authored Recipes in New Research

    Human Cooks Go Head-to-Head With AI-Authored Recipes in New Research

    When you roll out chilled sugar cookie dough or top your green bean casserole with crunchy onions this holiday season, you might not consider how much AI went into the recipe — it might be more than you think.

    AI involvement in food related activities is becoming increasingly common, according to Stacy Bevan, professional practice associate professor of dietetics at Utah State University. One study reported 74% of people aged 18-24 use AI-powered tools for meal planning, recipe suggestions and grocery shopping. And increasingly, AI is prompted to create the recipes themselves.

    But can AI whip up a decent dinner plan? Recently published research from a team in USU’s Department of Nutrition, Dietetics and Food Science tried to find out, pitting human-authored recipes and text against an AI chef. The researchers created two sets of recipe blogs, one authored by students in a food literacy course and another with AI mimicking the students’ style. Researchers then surveyed people’s reactions to the recipe package.

    Results showed a growing tolerance for AI-assisted recipe curation, with some important limits, Bevan said. Parts of the process still require a human touch — and a tongue, according to the survey.

    AI-generated recipes were rated similarly to the human-written content on several metrics — perceived ease of preparation, use of common ingredients, and time requirements. There was a slight difference in the way participants rated the budget friendliness of recipes, with AI splurging on ingredients more than human authors.

    But when people found out who was in the kitchen, the written comments about the experience revealed nuanced reactions. About 43% of participants said that knowing a recipe was AI-generated wouldn’t impact their willingness to try it, but there was serious pause among many based on practical and philosophical concerns.

    The most prevalent was that AI wouldn’t have the ability to taste or optimize recipes, perceptions that the recipes might be a bland average of all options and questions about copyright. Many participants in the survey said they preferred human-authored content because AI felt less personal and took away from the “humanness” of working with food and serving a meal.

    Many said that they could tell when the text was AI-produced. Some participants said they were fine with AI-generated content as long as the use of AI was disclosed.

    “It makes sense that some AI-generated recipes turn out well as they are based on information from existing recipes,” said Katie Kraus, lead author on the research. “But using AI-generated recipes for more complicated dishes is a gamble.”

    In a well-written recipe, the narrative and the technical accuracy are important, Bevan said. The narrative around the more technical parts of the process can increase confidence that there is personal experience behind it. It allows readers to know that someone has tested things out and that there is real evidence that it can turn out well, she said. We tend to want to build on other people’s real experience in the kitchen.

    Then again, many cooks just jump straight to the recipe.

    “My students tell me that they don’t read the narrative anymore,” Bevan said. “The quality of the recipe is more important than the writing these days. Many people, including me, rely more on how many people have reviewed the recipe and how they rate it, or read through a few of the reviews to know people’s real experience.”

    The assistance of AI in the kitchen still has tremendous potential. It already does some tasks really well, Bevan said — creating a prep schedule for a big holiday meal, budgeting ingredients on a shopping list and reducing food waste by suggesting meals that use foods already on hand.

    And it can be a crack search engine for a good human-written recipe, evaluating thousands and leading you to one that fits your parameters and has high ratings.

    But AI can’t replace professional expertise, Bevan said. There are instances where AI has listed inappropriate foods for specific dietary restrictions like diabetic or renal diets. Or given straight up bad advice, like adding non-food items to a recipe.

    “It just doesn’t have enough context,” Bevan said. “But it can look good to an inexperienced eye. It is increasingly important to train dietetic students on how to critically engage with and evaluate this kind of content.”

    Experienced cooks will be able to identify errors in the recipe and adjust accordingly. This is what Bevan tells her students in her food literacy courses. Classes like this offer a solid foundation in food and nutrition, as well as basics in the kitchen that allow people to translate knowledge about nutrition into actual healthy eating, she said.

    “AI is impacting many areas of our students’ lives and future professions,” Kraus said. “We can help them by paying attention to the changes and teaching them to navigate information from a variety of sources, including AI, to create great recipes, understand what they are eating and be healthy.”

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