Category: 3. Business

NEW YORK, Feb. 18, 2026 (GLOBE NEWSWIRE) — Apollo Global Management, Inc. today released the following statement:

To Our Partners,

In light of the variety of media and social traffic we feel compelled to again reach out. Despite the flurry of coverage and certain constituents pushing their own agendas, the facts remain the same. In 2020 Apollo initiated an independent, transparent, and thorough investigation in regard to any relationships with Jeffrey Epstein. The publicly released report can be found here.

The facts matter. From an Apollo perspective, there’s nothing new in these documents. Neither Marc Rowan nor anyone else at Apollo (excluding Leon Black) had either a business or personal relationship with Jeffrey Epstein.

Mr. Black, who left the firm in 2021, previously retained and compensated Mr. Epstein for personal tax advice. In select instances, Mr. Rowan and other Apollo employees provided information to Epstein in connection with his tax work for Mr. Black. While Mr. Epstein sought to do work with the Apollo co-founders other than Mr. Black, it was declined at every turn.

Transparency and accessibility are hallmarks of who we are, and we will not be dissuaded from speaking out.  

Day in and day out, we are focused on delivering for our investors.  With the markets in a volatile period, we are well prepared to be on offense.

If you have any questions our leadership team is available and 100% committed to transparency.

Best regards,

James C. Zelter
President
Apollo Global Management, Inc.

Contacts
Noah Gunn
Global Head of Investor Relations
+1 (212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
+1 (212) 822-0491
Communications@apollo.com

(All financial figures in United States dollars unless otherwise stated)

VANCOUVER, BC , Feb. 18, 2026 /PRNewswire/ – OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF) (“OceanaGold” or the “Company”) reported its operational and financial results for the three months and year ended  December 31, 2025. The consolidated financial statements and Management’s Discussion and Analysis (“MD&A”) are available at www.oceanagold.com.

Fourth Quarter and Full Year Highlights

• Full year 2025 production of 497,600 ounces of gold, above the mid-point of Guidance.
• Produced 157,400 ounces of gold and 3,200 tonnes of copper in the fourth quarter, an increase in gold production of 52% from the prior quarter, with all four sites delivering an increase in gold production.
• All-In Sustaining Cost (“AISC”)^† 25% lower in the quarter and at $1,966 per ounce for the full year.
• Record quarterly revenue of $652 million at a record average realized gold price of $4,227 per ounce.
• Quarterly Adjusted EBITDA Margin^† of 57% and record Operating Cash Flow Per Share^† of $1.21.
• Record quarterly attributable net profit of $328 million and record EPS of $1.44. Record Adjusted EPS^† of $0.88, which excludes the post-tax net impairment reversal at Haile.
• Generated record annual and quarterly Free Cash Flow^† of $543 million and $259 million respectively, resulting in a trailing 12-month Free Cash Flow^† yield² of 15%.
• Cash balance increased by 42% from the prior quarter to $477 million with no debt.
• Completed $175 million in share repurchases in 2025 at an average price of CAD$24.54.
• The Board approved a tripling of the quarterly dividend to $0.09 per share.
• The Board approved a doubling of share repurchases to up to $350 million for 2026.
• Received final approval for the Waihi North Project permit, with development activity accelerating.
• The Company intends to list on the New York Stock Exchange (“NYSE”) in early April, 2026.

2026 Guidance

• Gold production growth of ~12%¹ to between 520,000 to 590,000 ounces, driven by Haile.
• 7%¹ reduction in AISC^† to between $1,750 to $1,900 per ounce.
• Growth and exploration capital investment of $340 million, reflecting an acceleration of the Waihi North Project, commencement of the Palomino Underground development and a ~50% increase in exploration.

Gerard Bond, President and CEO of OceanaGold, said: “2025 was a stellar year for OceanaGold, with strong operational execution translating to record financial outcomes and shareholder returns. We safely and responsibly delivered production, cost and capital Guidance for the year. We generated record net profit, record EPS and record Free Cash Flow^†, and further strengthened our balance sheet to nearly half a billion dollars of cash with no debt. We were able to invest in our attractive organic growth opportunities, pay an increased dividend and return a substantial amount of capital to shareholders via an upsized share buyback.

Looking ahead to 2026, we expect higher production, lower unit costs, and expect another year of strong Free Cash Flow^† in the current gold price environment. We are excited to progress development and exploration activity to accelerate one of the highest‑grade undeveloped gold projects in our industry, the Waihi North Project, as well as commence development of Palomino Underground at Haile. We are increasing our investment in exploration in 2026 by 50%, to a Company record, in pursuit of high return, near mine options.  We are confident this growth investment will continue to drive value creation for shareholders.

We are committed to maximizing returns to shareholders via our disciplined capital allocation framework and will do so by tripling the dividend from 2025 levels, and doubling our share buyback program to $350 million. To further broaden our investor base and enhance liquidity, we are also excited to be listing on the NYSE in April this year.”

Results Overview

Dividend

OceanaGold has declared a $0.09 per share dividend, which is tripled compared to the prior quarter. Shareholders of record at the close of business in each jurisdiction on March 4, 2026 (the “Record Date”) will be entitled to receive payment of the dividend on April 2, 2026. The dividend payment applies to holders of record of the Company’s common shares traded on the Toronto Stock Exchange.

Dividends are payable in United States dollars. Shareholders in other jurisdictions can elect to participate in Computershare’s international payments service if they want to receive dividends in an alternative currency. This dividend qualifies as an ‘eligible dividend’ for Canadian income tax purposes.

Share Buyback

In 2025, the Company completed the planned $175 million of share repurchases for the full year at an average price of CAD$24.54. The Board has approved a doubling of the share buyback program for 2026, with up to $350 million in share buybacks planned.

Management Update

The Company is pleased to announce that Mr. David Bickerton will assume the position of Executive Vice President and Chief Sustainability Officer (CSO) starting in April 2026, based in Brisbane. David joined OceanaGold in 2011 and has completed numerous roles in Brisbane, USA, New Zealand and the Philippines. Since August 2022, David has been Asset President of the Didipio Mine. David brings a deep understanding of our business, culture and Company objectives to this critical role and to the Executive Leadership team.

Conference Call and Webcast:

Senior management will host a conference call and webcast to discuss the quarterly results on Thursday, February 19, 2026 at 10:00 am EST (7:00 am PST). To participate in the conference call, please use one of the following methods:

If you are unable to attend the call, a recording will be made available on the Company’s website.

About OceanaGold  

OceanaGold is a global intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the wholly-owned Haile Gold Mine in the United States of America; the wholly-owned Macraes and Waihi operations in New Zealand; and the 80%-owned Didipio Mine in the Philippines.

Cautionary Statement for Public Release 

This public release contains certain “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws which may include, but is not limited to, statements with respect to the future financial and operating performance of the Company, its mining projects, the future price of gold, the estimation of mineral reserves and mineral resources, the realization of mineral reserve and resource estimates, costs of production, estimates of initial capital, sustaining capital, operating and exploration expenditures, costs and timing of the development of new deposits, costs and timing of the development of new mines, costs and timing of future exploration and drilling programs, timing of filing of updated technical information, anticipated production amounts, requirements for additional capital, governmental regulation of mining operations and exploration operations, timing and receipt of approvals, consents and permits under applicable legislation, environmental risks, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. All statements in this public release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as “may”, “plans”, “expects”, “projects”, “is expected”, “scheduled”, “potential”, “estimates”, “forecasts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases, or may be identified by statements to the effect that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks include, among others: future prices of gold; general business; economic and market factors (including changes in global, national or regional financial, credit, currency or securities markets); changes or developments in global, national or regional political and social conditions; changes in laws (including tax laws) and changes in IFRS or regulatory accounting requirements; the actual results of current production, development and/or exploration activities; conclusions of economic evaluations and studies; fluctuations in the value of the United States dollar relative to the Canadian dollar, the Australian dollar, the Philippines Peso or the New Zealand dollar; changes in project parameters as plans continue to be refined; possible variations of ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political instability or insurrection or war; labour force availability and turnover; adverse judicial decisions, inability or delays in obtaining financing or governmental approvals; inability or delays in the completion of development or construction activities or in the re-commencement of operations; legal challenges to mining and operating permits including the FTAA as well as those factors identified and described in more detail in the section entitled “Risk Factors” contained in the Company’s most recent Annual Information Form and the Company’s other filings with Canadian securities regulators, which are available on SEDAR+ at sedarplus.com  under the Company’s name. The list is not exhaustive of the factors that may affect the Company’s forward-looking statements.

The Company’s forward-looking statements are based on the applicable assumptions and factors Management considers reasonable as of the date hereof, based on the information available to Management at such time. These assumptions and factors include, but are not limited to, assumptions and factors related to: the Company’s ability to carry on current and future operations, including: development and exploration activities; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company’s ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs, including gold; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.

The Company’s forward-looking statements are based on the opinions and estimates of Management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. The Company does not assume any obligation to update forward-looking statements if circumstances or Management’s beliefs, expectations or opinions should change other than as required by applicable law. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities the Company will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.

Non-IFRS Financial Information

Adjusted Net Profit/(Loss) and Adjusted Earnings/(Loss) per share

These are used by Management to measure the underlying operating performance of the Company. Management believes these measures provide information that is useful to investors because they are important indicators of the strength of the Company’s operations and the performance of its core business. Accordingly, such measures are intended to provide additional information and should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS. Adjusted Net Profit/(Loss) is calculated as Net Profit/(Loss) less the impact of impairment expenses and reversals, write-downs, foreign exchange (gains)/losses, gain on sale of assets, listing costs and restructuring costs related to transitioning certain corporate activities from Australia to Canada.

The following table provides a reconciliation of Adjusted Net Profit/(Loss) and Adjusted Earnings/(Loss) per share:

EBITDA and Adjusted EBITDA

Management believes that Adjusted EBITDA is a valuable indicator of its ability to generate liquidity by producing operating cash flows to fund working capital needs, service debt obligations and fund capital expenditures. EBITDA is defined as earnings before interest, tax, depreciation and amortization. Adjusted EBITDA is calculated as EBITDA less the impact of impairment expenses and reversals, write-downs, gains/losses on disposal of assets, listing costs, foreign exchange gains/losses and other non-recurring costs. Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by revenue.

The following table provides a reconciliation of EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin:

Cash Costs and AISC

Cash Costs are a common financial performance measure in the gold mining industry; however, it has no standard meaning under IFRS. Management uses this measure to monitor the performance of its mining operations and its ability to generate positive cash flows, both on an individual site basis and an overall company basis. Cash Costs include mine site operating costs plus indirect taxes and selling cost net of by-product sales and are then divided by ounces sold. In calculating Cash Costs, the Company includes the value of cash-settled stock-based compensation in the year of vesting. Cash costs are reduced by copper and silver by-product credits that are considered incidental to the gold production process, thereby allowing Management and other stakeholders to assess the net costs of gold production. The measure is not necessarily indicative of cash flow from operations under IFRS or operating costs presented under IFRS.

Management believes that the AISC measure provides additional insight into the costs of producing gold by capturing all of the expenditures required for the discovery, development and sustaining of gold production and allows the Company to assess its ability to support capital expenditures to sustain future production from the generation of operating cash flows, both on an individual site basis and an overall company basis, while maintaining current production levels. Management believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company’s performance and ability to generate cash flow per ounce sold. AISC is calculated as the sum of Cash Costs, capital expenditures and exploration costs that are sustaining in nature and corporate G&A costs. AISC is divided by ounces sold to arrive at AISC per ounce.

Prior to the first quarter of 2025, Didipio’s AISC calculation excluded local corporate G&A costs which is consistent with the calculation of AISC for the other operations. In order to align the Company’s reporting of AISC with local reporting requirements in the Philippines, Management has included local corporate G&A costs in Didipio’s AISC calculation beginning in the first quarter of 2025.

 The following table provides a reconciliation of consolidated Cash Costs and AISC:

The following tables provides a reconciliation of Cash Costs and AISC for each operation:

Haile

Macraes

Waihi

Didipio

Net Cash/(Debt)

Net Cash/(Debt) has been calculated as total debt less cash and cash equivalents. Management believes this is a useful indicator to be used in conjunction with other liquidity and leverage ratios to assess the Company’s financial health.

The following table provides a reconciliation of Net Cash/(Debt):

Operating Cash Flow per share

Operating Cash Flow per share before working capital movements is calculated as the cash flows provided by operating activities adjusted for changes in working capital then divided by the fully diluted weighted average number of common shares issued and outstanding.

The following table provides a reconciliation of total fully diluted Operating Cash Flow per share:

Free Cash Flow

Free Cash Flow has been calculated as cash flows from operating activities, less cash flow used in investing activities. Management believes Free Cash Flow is a useful indicator of the Company’s ability to generate cash flow and operate net of all expenditures, prior to any financing cash flows. Free Cash Flow per share is calculated as the Free Cash Flow divided by the fully diluted weighted average number of common shares issued and outstanding.

The following table provides a reconciliation of Free Cash Flow:

SOURCE OceanaGold Corporation

New York, NY – February 18, 2026 – The Estée Lauder Companies presented new scientific findings in skin care science at the 2026 IMCAS World Congress, one of the leading gatherings for dermatology, plastic surgery, and aesthetics. Hosted in Paris in late January, this year’s conference drew more than 20,000 participants, bringing together the latest science from prominent leaders and the newest developments from major industry players. The Estée Lauder Companies’ Dr. Rishabh Kala, Lead Scientist for Estée Lauder, and Dr. Jaime Emmetsberger, Lead Scientist for La Mer’s Max Huber Research Labs, were selected by the scientific committee to deliver talks showcasing their brands’ scientific authority in skin longevity and regenerative aesthetics, respectively.

In his presentation, “Skin Longevity: The Proven Role of Sirtuins and Mitochondrial Health in Dermatological Aging,” Dr. Kala highlighted Estée Lauder’s more than 17 years of dedicated research in skin longevity, underscoring the brand’s leadership in the field. Sirtuins, a group of seven proteins that are strongly associated with healthy aging and longevity, help regulate how cells use energy, respond to stress, and maintain balance over time. In his talk, he detailed the interconnected roles of sirtuins and mitochondrial dynamics in maintaining youthful skin function and discussed emerging research on sirtuin activators and mitochondrial-targeted technologies that are influencing the next generation of longevity-focused skin care. Estée Lauder’s proprietary research demonstrates the ability of exclusive ingredients to counteract the effects of age-related declines in SIRT activity. By supporting visible age reversal and improved skin resilience, the company is continuing to advance skin longevity, helping skin cells perform at their peak and act younger and healthier for longer.

In her presentation, “Realizing Exosome Potential in Cosmeceuticals: Alternative Sources, Biological Benefits, and Challenges,” Dr. Emmetsberger highlighted exosomes as one of the most rapidly emerging areas of interest in cosmetic science. Rather than treating exosomes as a single “ingredient,” she framed them as biological messengers whose impact depends on an understanding of the vesicles themselves and the signals they carry. As interest in this field continues to accelerate, Dr. Emmetsberger noted that the term “exosome” is often applied too broadly, leading to confusion and suggested clearer standards to address this. She also highlighted a growing shift toward more scalable options from plants, algae, and the microbiome, which are increasingly relevant for cosmetic applications. Building on Dr. Emmetsberger’s expertise, the company is continuing to deepen its scientific understanding of signaling vesicle platforms, like exosomes, and translating into delivering meaningful skin benefits.

“We are honored to have two of our expert scientists selected to present at the 2026 IMCAS World Congress, an achievement that reflects the strength of our Global Research and Innovation organization,” said Claude Saliou, Senior Vice President, Advanced Technologies and Global Clinical & Consumer Science, The Estée Lauder Companies. “Their research underscores our company’s longstanding leadership in skin longevity and regenerative aesthetics, exemplifying our ability to translate cutting-edge discovery into transformative beauty innovations.”

Around the world, ELC is dedicated to cutting-edge science with multidisciplinary expertise ranging from basic science and advanced technologies to the intersections of physics, chemistry, biology, and engineering. ELC R&D has 80 years of formulation authority and is deeply integrated into the scientific community, regularly presenting at leading events and publishing in peer-reviewed journals. ELC’s R&D team consistently aims to develop the next generation of transformative, science-driven prestige beauty products, packaging, and experiences that deliver exceptional quality and performance for our consumers around the world.

About The Estée Lauder Companies Inc.

The Estée Lauder Companies Inc. (ELC) is one of the world’s leading manufacturers, marketers, and sellers of quality skin care, makeup, fragrance, and hair care products, and is a steward of luxury and prestige brands globally. The company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, Dr.Jart+, the DECIEM family of brands, including The Ordinary and NIOD, and BALMAIN Beauty.

 

The Food and Drug Administration (FDA) reversed course on Wednesday and will now review Moderna’s application for the first mRNA-based flu vaccine after initially declining to consider it.

Moderna announced that the US drug regulator will move forward with reviewing its updated flu vaccine application. The decision comes only a week after the agency turned down the company’s original filing, a move that had prompted criticism across the medical industry about potential changes in how the regulator is making decisions under the Trump administration.

The company is seeking full approval of the vaccine for adults between the ages of 50 and 64, along with accelerated approval for people aged 65 and older.

“We appreciate the FDA’s engagement in a constructive Type A meeting and its agreement to advance our application for review,” said Stéphane Bancel, CEO of Moderna, in a statement. “Pending FDA approval, we look forward to making our flu vaccine available later this year so that America’s seniors have access to a new option to protect themselves against flu.”

The FDA has set 5 August as the target date for finishing its review, which could allow the vaccine to be available before the next flu season begins.

The agency’s earlier rejection had intensified worries about what many see as a major change in US vaccine policy under the current administration. Those concerns have been tied to declining vaccination rates and broader changes to the regulatory environment for new vaccines.

Andrew Nixon, a spokesperson for the Department of Health and Human Services (HHS), said in a statement: “As authorized under PDUFA (Prescription Drug User Fee Act) and defined in FDA guidance documents, FDA held a Type A meeting with Moderna. Discussions with the company led to a revised regulatory approach and an amended application, which FDA accepted. FDA will maintain its high standards during review and potential licensure stages as it does with all products.”

The health secretary, Robert F Kennedy Jr, a longtime vaccine skeptic and a vocal critic of mRNA technology – the platform used in Moderna’s and most other Covid-19 vaccines – recently oversaw the cancellation of a $500m federal contract intended to support development of mRNA vaccines targeting bird flu and other high-risk strains.

The FDA had previously rejected Moderna’s application, saying the company should have administered a higher-strength vaccine to older participants in the control group of its clinical trial.

The FDA commissioner, Dr Marty Makary, said on Tuesday the decision to initially reject Moderna’s application came because the biotech company did not follow the FDA’s earlier guidance, a contention Moderna disputes. A senior FDA official had called Moderna’s clinical trial a “brazen failure” at a press conference last week.

Health experts and advocates were quick to voice concern over the initial refusal by the FDA, which is overseen by Kennedy’s HHS, to consider the mRNA-based flu shot. Many saw it as part of a wider “anti-vaccine agenda” being pushed by the Trump administration and “Make America Healthy Again” (Maha) movement.

The human factor is the critical and often overlooked driver behind 90% of cyber breaches, with mental health impacts from cyber incidents further exacerbating organisational vulnerability. People-centric solutions — such as integrating mental health support, personalised behavioural risk assessments, and culture-focused strategies — shift cyber risk management from reactive compliance to proactive resilience. By empowering employees and fostering supportive cultures, these approaches significantly reduce cyber risk and build sustainable organisational strength against evolving threats.

The context

In the rapidly evolving digital landscape, cyber risk management has traditionally centred on technological defences, compliance frameworks, and incident response protocols. Yet, despite sophisticated firewalls and advanced detection systems, cyber incidents continue to proliferate, often triggered or exacerbated by human factors. Data show that human error contributes to 90% of cyber breaches, underscoring the need to address the human factor within cyber risk management.

Increasingly, organisations recognise that the human element — employees’ behaviours, mental health, and organisational culture — is the critical frontier in managing cyber risk effectively.

This article combines the expertise and experience of Marsh and Mercer and explores the multifaceted human dimension of cyber risk management. It draws on recent research and innovative solutions that highlight the psychological impact of cyber incidents and the transformative potential of people-centric risk assessment tools. By integrating mental health considerations with data-driven behavioural insights, organisations can shift from reactive crisis management to proactive resilience-building.

The hidden toll: Mental health impact of cyberattacks

Cyber incidents, particularly ransomware attacks, inflict more than operational disruption — they take a profound psychological toll on the people involved. A study by Northwave Cyber Security reveals the often-overlooked mental health consequences employees experience during and after ransomware incidents.

The research categorises the mental impact into three distinct phases:

• Immediate aftermath (first week): Employees report acute stress, anxiety, and physical symptoms such as headaches and fatigue. The pressure to restore systems quickly often leads to long working hours and sleep deprivation.
• Short-term period (first month): Feelings of guilt, frustration, and helplessness emerge, with many employees experiencing sleep disturbances and negative thought patterns.
• Long-term effects (up to one year): Some individuals develop trauma symptoms, including hypervigilance and emotional exhaustion, which can lead to job dissatisfaction or even career changes.

Notably, the study highlights gender differences, with women reporting more severe symptoms. It also identifies unhealthy coping mechanisms, such as withdrawal or overworking, that can exacerbate mental health issues.

These findings underscore the critical need for organisations to embed mental health support into their cyber incident response plans. The white paper recommends creating a supportive culture that normalises mental health discussions, providing access to counselling services, and implementing structured managerial check-ins to monitor employee well-being throughout the recovery process.

By addressing the human cost of cyber incidents, organisations not only support their workforce but also enhance overall resilience, as mentally healthy employees are better equipped to respond effectively to future threats.

Beyond compliance: Innovative human-centric cyber risk assessment

While mental health support addresses the aftermath of cyber incidents, preventing such events requires a fundamental shift in how organisations assess and manage cyber risk. Traditional approaches often focus on technical controls and compliance checklists, neglecting the complex human behaviours that underpin many cyber vulnerabilities.

Marsh and Mercer have pioneered an innovative solution — the People Cyber-Risk Assessment — that places the human element at the core of cyber risk management. This initiative was recently nominated for the European Risk Management Award 2025 in the Technology Innovation of the Year category, reflecting its groundbreaking approach.

The solution integrates psychological and cultural diagnostics with data-driven planning, enabling organisations to assess cyber risk at multiple levels:

• Individual predisposition assessment: This tool profiles employees’ personality traits and behavioural tendencies related to cyber risk, generating personalised reports with tailored recommendations to improve cyber hygiene. These can include, for example, closing the technical gap of employees and lowering social engineering risk.
• Company culture assessment: Evaluates organisational norms, values, and behaviours that influence cyber risk, identifying cultural strengths and vulnerabilities.
• Knowledge and skills assessment: Measures employees’ current cyber knowledge and skills to pinpoint gaps and training needs.

By combining these assessments, organisations gain a holistic understanding of their human risk landscape, moving beyond generic training to targeted, effective interventions.

This approach redefines cyber risk management workflows by shifting from reactive, compliance-driven models to proactive, people-centric strategies. It recognises that cyber risk is not just a technical issue but a behavioural and cultural challenge requiring tailored solutions.

Data-driven personalisation: Tailoring education and awareness

One of the most significant limitations of traditional cyber awareness programmes is their “one-size-fits-all” design, which often fails to engage employees or address their specific risk profiles. Mercer People Cyber-Risk Assessment solution overcomes this by leveraging data to customise education and awareness initiatives.

The Individual Predisposition Assessment generates personalised profiles that provide employees with actionable tips tailored to their unique behavioural tendencies. For example, an employee prone to impulsivity might receive guidance on pausing before clicking links, while someone with high conscientiousness might be encouraged to share best practices with peers.

At the organisational level, aggregated data is visualised through dashboards that reveal trends and risk clusters, enabling leaders to prioritise resources and design targeted training programmes. This data-driven approach ensures that interventions are both efficient and impactful, focusing efforts where they are most needed.

Moreover, by integrating company culture and knowledge assessments, organisations can align their cyber risk strategies with broader organisational goals and values, fostering a cohesive and resilient workforce.

Building a supportive cyber culture: Leadership and organisational strategies

Technology and training alone cannot create lasting cyber resilience without a supportive organisational culture. Leadership plays a pivotal role in fostering an environment where employees feel valued, informed, and empowered to act securely.

The study emphasises the importance of managerial support during cyber incidents. Practical steps include:

• Clear communication: Keeping teams informed about incident status and expectations reduces uncertainty and anxiety.
• Equitable task distribution: Avoiding overburdening specific individuals prevents burnout.
• Regular mental health check-ins: Proactively monitoring well-being helps identify and address issues early.

Creating a culture that prioritises mental well-being and continuous learning not only improves security outcomes but also enhances employee engagement and retention. When employees trust that their organisation cares about their health and development, they are more likely to adopt secure behaviours and report potential risks.

Broader implications: Enhancing digital literacy and societal resilience

The benefits of human-centric cyber risk management extend beyond individual organisations. By improving digital literacy and fostering responsible cyber behaviour, these approaches contribute to a safer digital ecosystem for communities and society at large.

Marsh and Mercer have always focused on cyber risk management from a collaborative model that integrates multiple stakeholders — including risk managers, HR, and IT — to create comprehensive strategies that enhance operational resilience. This holistic approach not only reduces the frequency and impact of cyber incidents but also promotes economic stability by mitigating financial losses associated with breaches.

Moreover, by raising awareness and building skills across the workforce, organisations contribute to broader societal goals of digital literacy and trust in technology. As cyber threats continue to evolve, embedding the human element into risk management is essential for building resilient organisations and a secure digital future.

Leveraging employees to reduce cyber risk

The future of cyber risk management lies in embracing the human element holistically — from recognising the mental health impacts of cyber incidents to deploying innovative, data-driven tools that personalise risk assessment and education. Organisations that invest in people-centric solutions and foster supportive cultures will not only reduce vulnerabilities but also empower their workforce to be active defenders in the cyber landscape.

By shifting from reactive responses to proactive strategies that place humans at the centre, businesses can transform cyber risk management into a sustainable competitive advantage and contribute to a safer, more resilient digital world.

LOS ANGELES (AP) — Mark Zuckerberg will testify in an unprecedented social media trial that questions whether Meta’s platforms deliberately addict and harm children.

READ MORE: What legal experts say about a major ‘bellwether trial’ over child social media addiction

Meta’s CEO is expected to answer tough questions on Wednesday from attorneys representing a now 20-year-old woman identified by the initials KGM, who claims her early use of social media addicted her to the technology and exacerbated depression and suicidal thoughts. Meta Platforms and Google’s YouTube are the two remaining defendants in the case, which TikTok and Snap have settled.

Zuckerberg has testified in other trials and answered questions from Congress about youth safety on Meta’s platforms, and he apologized to families at that hearing whose lives had been upended by tragedies they believed were because of social media. This trial, though, marks the first time Zuckerberg will answer similar questions in front of a jury. And, again, bereaved parents are expected to be in the limited courtroom seats available to the public.

The case, along with two others, has been selected as a bellwether trial, meaning its outcome could impact how thousands of similar lawsuits against social media companies would play out.

READ MORE: Landmark trial accusing tech giants of harming children with addictive social media begins

A Meta spokesperson said the company strongly disagrees with the allegations in the lawsuit and said they are “confident the evidence will show our longstanding commitment to supporting young people.”

One of Meta’s attorneys, Paul Schmidt, said in his opening statement that the company is not disputing that KGM experienced mental health struggles, but rather that Instagram played a substantial factor in those struggles. He pointed to medical records that showed a turbulent home life, and both he and an attorney representing YouTube argue she turned to their platforms as a coping mechanism or a means of escaping her mental health struggles.

WATCH: States suing Meta accuse company of manipulating its apps to make children addicted

Zuckerberg’s testimony comes a week after that of Adam Mosseri, the head of Meta’s Instagram, who said in the courtroom that he disagrees with the idea that people can be clinically addicted to social media platforms. Mosseri maintained that Instagram works hard to protect young people using the service, and said it’s “not good for the company, over the long run, to make decisions that profit for us but are poor for people’s well-being.”

Much of Mosseri’s questioning from the plaintiff’s lawyer, Mark Lanier, centered on cosmetic filters on Instagram that changed people’s appearance — a topic that Lanier is sure to revisit with Zuckerberg. He is also expected to face questions about Instagram’s algorithm, the infinite nature of Meta’ feeds and other features the plaintiffs argue are designed to get users hooked.

WATCH: Dozens of states sue Meta claiming social media addiction harms children’s mental health

Meta is also facing a separate trial in New Mexico that began last week.

New Brunswick, N.J. – FEBURARY 18, 2026 – Johnson & Johnson (NYSE: JNJ) (the “Company”), healthcare’s leading, most comprehensive innovation powerhouse, today announced a more than $1 billion investment in a next generation cell therapy manufacturing facility in Montgomery County, Pennsylvania. This new facility will further expand the Company’s U.S. manufacturing capacity as it advances its industry leading portfolio and pipeline of transformational medicines for cancer, immune-mediated and neurological diseases.

“For 140 years, Johnson & Johnson has been a leading innovator in American healthcare, and we are honored to continue advancing that legacy in Pennsylvania,” said Joaquin Duato, Chairman and Chief Executive Officer of Johnson & Johnson. “By uniting scientific excellence with state-of-the-art manufacturing and strategic investment, and by working collaboratively with our communities, we are delivering for patients and creating significant opportunities for workers and families.”

In building this facility, Johnson & Johnson continues to invest in cutting-edge manufacturing processes and in training to develop a workforce skilled in advanced technologies that are shaping the future of medicine. It will support more than 500 skilled biomanufacturing jobs when fully operational and more than 4,000 construction jobs during site development.

“Pennsylvania is a powerhouse for innovation and manufacturing in the life sciences,” said Governor Josh Shapiro. “Just a few years ago we weren’t even on the field – but today we’re competing and winning. We’ve done it by creating the first economic development plan for Pennsylvania in 2 decades, and following through on it by cutting red tape, making strategic investments in key industries like the life sciences, and strengthening our workforce. That’s why companies like Johnson & Johnson are choosing to double down on their investments here in our Commonwealth – because they know we’ve got the strategy, the workforce, and the speed they need to succeed.”

Decades of Investment in Pennsylvania

This investment further strengthens the Company’s longstanding economic impact across Pennsylvania, which totals approximately $10 billion¹ annually. With ten facilities encompassing more than 2 million square feet dedicated to manufacturing, research, distribution, and office operations, Johnson & Johnson maintains one of the most significant, statewide footprints in the healthcare industry.

The announcement is part of the Company’s previously announced $55 billion U.S. investment in manufacturing, research and development, and technology through early 2029.

Additional Quotes for Media Use

“Pennsylvania leads in life sciences and advanced manufacturing because we consistently deliver what companies like Johnson & Johnson need to succeed: a skilled workforce, premier research institutions, and proven manufacturing strength,” said U.S. Senator Dave McCormick. “This $1 billion-plus investment in a new Lower Gwynedd facility is a testament to that leadership and will produce life-changing treatments for patients, along with new and good jobs for our Commonwealth.”

“Pennsylvania is a leader in health care innovation with some of the very best health care workers. Proud to see this more than $1 billion investment into Montgomery County and our Commonwealth,” said U.S. Senator John Fetterman. “Bringing new jobs, advanced manufacturing, and life-saving medicine to and for our communities is always something to celebrate.”

“Our region is home to world-class healthcare, science and research — and the opening of Johnson & Johnson’s cell therapy manufacturing facility in Lower Gwynedd expands its long tradition of leadership in Pennsylvania,” Representative Madeleine Dean said. “J&J’s new site will promote job growth, foster innovation, and, most importantly, bring life-saving medicine to people around the country. I look forward to their continued success.”

ABOUT JOHNSON & JOHNSON
At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow and profoundly impact health for humanity.

Learn more at https://www.jnj.com/ or at https://innovativemedicine.jnj.com/

Follow us at @JNJInnovMed.

Cautions Concerning Forward-Looking Statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory actions; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson’s most recent Annual Report on Form 10-K, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in Johnson & Johnson’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

For additional information, please visit www.jnj.com.

Footnotes
¹ Estimated impact as calculated by an external economic analysis.

NEW YORK, February 18, 2026 ­─­ Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, today announced that Michael Lewis has been promoted to President, Marsh Risk Canada, effective April 1.

In this role, Mr. Lewis will lead the strategic development and execution of Marsh Risk’s Canada commercial strategy, which encompasses its risk management, corporate and commercial client segments, risk consulting services, and specialty insurance broking solutions. He will also work closely with Marsh’s country leaders to deliver the firm’s market-leading capabilities across risk, reinsurance and capital, people and investments and management consulting to clients.

Mr. Lewis succeeds Sarah Robson, who will continue to serve as Marsh Canada CEO. He will report jointly to Ms. Robson and Michelle Sartain, President, Marsh Risk for US and Canada.

Mr. Lewis currently serves as Chief Commercial Officer (CCO) for Marsh Canada and Head of Specialty and Industry for Marsh Risk Canada. He will retain his CCO role alongside his new responsibilities as President. A new Head of Specialty and Industry will be named in due course. Mr. Lewis joined Marsh Risk in 2006 as part of its Workforce Strategies group in Australia. He moved to Hong Kong in 2013 to lead the Workforce Strategies group there, then moved to Canada in 2018 to become the National Growth and Industry Leader.

Commenting on the appointment, Ms. Robson said: “Michael’s appointment comes at a pivotal time as our Canadian clients face unprecedented economic and geopolitical volatility, including evolving trade policies, regulatory changes, and complex global risks. His commitment to clients, deep experience, and leadership will be critical in helping our clients navigate these challenges.”

Mr. Lewis added: “I look forward to working closely with our colleagues across Canada to build on the already strong foundation cemented by Sarah and to deliver continued innovation and stellar service to our clients.”

Elevated interest rates over the past several years have increased debt service pressure on leveraged corporate borrowers. Borrowers facing liquidity challenges have started deferring and capitalizing all or a portion of their interest payments, known as payment-in-kind (PIK) interest. Other borrowers with stronger credit fundamentals have proactively negotiated PIK optionality with lenders to enhance financial flexibility.

Direct lending financing structures—including collateralized loan obligations (CLO), credit facilities, rated feeder notes, and other corporate securitizations—face varying degrees of cash flow risk depending on the prevalence, magnitude, timing, and duration of interest deferrals within their collateral pools. KBRA has been monitoring these trends, particularly in private credit (PC) and middle market loan (MML) transactions, where we have observed an evolution in documentation, definitions, and concentration limits related to PIK loans.

This KBRA report discusses…