Core Insights - American Express Company (AXP) has expanded its partnership with Toronto Pearson Airport to enhance benefits for American Express Cardmembers, aiming to improve their airport experience [1][4]. Benefits of the Partnership - Eligible American Express Cardmembers will have expedited access to the Priority Security Lane at Terminals 1 and 3 through single-use QR codes [2]. - Complimentary valet car service is available for Cardmembers departing from Terminal 1, with parking fees waived when charged to an eligible American Express Card [2]. - A 15% discount on parking rates at the Express Park facility in Terminal 1 and Daily Park facilities in Terminals 1 and 3 will be provided, reflected as a statement credit [3]. - Cardmembers can also receive a 15% discount on car cleaning and detailing services at Terminal 1 [3]. Strategic Implications - The bundled benefits are expected to enhance travel convenience and enjoyment for passengers, reinforcing American Express's strong presence in Canada's transit system [4]. - The expansion reflects American Express's commitment to maintaining the attractiveness of its card offerings, potentially retaining existing Cardmembers and attracting new ones [5]. - The card-issuing business is a significant revenue source for American Express, and this initiative is anticipated to contribute to top-line growth, with management confident in achieving long-term revenue growth of 10% [5]. Financial Performance - American Express shares have increased by 73.2% over the past year, outperforming the industry growth of 24.5% [6].

Core Insights - Microsoft and Pearson announced a strategic collaboration to address the global challenge of skilling for the AI era, focusing on AI-powered products and services for employers, workers, and learners [1][3] - The partnership aims to combine Pearson's expertise in learning and assessment with Microsoft's cloud and AI technologies to enhance workforce readiness in an AI-driven economy [1][3] Industry Context - A global IDC survey identified the lack of skilled workers as the primary challenge for enterprises implementing AI technology [2] - The 2024 Work Trend Index Annual Report revealed that 66% of leaders would not hire individuals without AI skills [2] - Pearson's research indicates that generative AI could save U.S. workers 78 million hours weekly by automating routine tasks [2] Collaboration Details - The partnership will involve several initiatives, including the integration of Microsoft Azure Cloud capabilities and AI tools into Pearson's services [4][5] - Pearson will enhance its content and assessment services using Microsoft’s AI infrastructure, aiming to provide personalized learning experiences to millions globally [5] - New AI credentials and certifications will be developed to help individuals build AI proficiency and technical skills [5] Commitment to Workforce Development - Microsoft will extend its partnership with Pearson VUE, focusing on Microsoft Cloud and Office certifications through 2029, benefiting millions of learners [5][6] - Pearson plans to deploy Microsoft 365 Copilot across its workforce to improve efficiency and productivity [5][6] - In 2024, Microsoft and its partners trained over 23 million people in digital skills, while Pearson launched a Generative AI Foundations certification [6]

Core Findings - An annual investment of £130 million in technology in UK schools over the next decade could deliver an economic benefit of up to £8.7 billion, with a return of up to £7.90 for every £1 invested [1] - The research highlights the transformative economic and educational benefits of investing in digital transformation within UK state-funded schools, particularly in curriculum and assessment [2] Strategic Investment Areas - Device provision: Currently, only 34% of secondary schools and 31% of primary schools report having sufficient devices [5] - Broadband improvement: Slow internet speeds are reported at 27% of secondary schools and 36% of primary schools [8] - Teacher training: 24% of teachers lack confidence in their digital skills, and 20+ hours of training per teacher is recommended [8] Economic and Educational Benefits - Teacher time savings of around £900 million in the first year, equivalent to almost five average working weeks [6] - Additional earning potential for new labor market entrants: from under £7 million in year one to around £200 million by year 10 due to improved skills and higher student attainment [6] - Economic productivity: Returns starting at around £6 million in the first year and rising to around £180 million by year 10 [6] - Positive environmental impact: Potential for nearly two million kg of CO2E savings by the tenth year, enough to power hundreds of households for a year [6] Call to Action - Pearson calls for a national strategy for deploying technology in schools and will launch a wider Digital in Schools project in 2025, guided by research and practical suggestions to unlock the benefits of EdTech [7] Industry Perspective - The report emphasizes the importance of preparing students for a digital world, particularly for those from lower-income families without access to technology at home [4] - Strategic investment in infrastructure and teacher training is crucial to better prepare students for future life and work, ultimately building a more productive workforce [4] - The report highlights the long-term benefits of increased investment in EdTech, which outweigh costs by several multiples and can improve skills, educational outcomes, and labor market productivity [4]

HOBOKEN, N.J., Jan. 7, 2025 /PRNewswire/ -- Pearson (FTSE: PSON.L), the world's leading learning company, marks a pivotal milestone in its commitment to provide high-quality, meaningful credentials in a skills-based economy. The company's digital credential platform, Credly, issued its 100 millionth unique badge. The World Economic Forum predicts the average lifespan of a skill will drop from six years to 2.5 years by 2030, requiring a more agile approach than ever to upskilling. Digital credentials help in ...

Widespread adoption of advanced technologies makes tech skills essential in all sectorsCEOs and CHROs need to rethink workforce and skilling strategiesHealthcare sector booming as population agesHOBOKEN, N.J., Oct. 21, 2024 /PRNewswire/ -- Pearson (FTSE: PSON.L), the world's lifelong learning company, today launched the Skills Map of the United States, an in-depth analysis of the American job market through 2028. The report projects 1.9 million new jobs will be created through 2028, even as automation, AI a ...

Dublin, Oct. 17, 2024 (GLOBE NEWSWIRE) -- The "School Assessment Tools Market by Product, Level - Global Forecast 2025-2030" report has been added to ResearchAndMarkets.com's offering. The School Assessment Tools Market grew from USD 10.44 billion in 2023 to USD 11.38 billion in 2024. It is expected to continue growing at a CAGR of 10.07%, reaching USD 20.44 billion by 2030. School assessment tools encompass a broad range of products and platforms designed to evaluate, measure, and enhance student learning, ...

Tim Pearson will manage state and local regulatory and government relations, and community affairs Mike Callahan will become senior vice president and treasurer GREENVILLE, S.C., Oct. 16, 2024 /PRNewswire/ -- Duke Energy today announced that Tim Pearson will become South Carolina state president, effective Nov. 1. He will succeed Mike Callahan, who has been promoted to senior vice president and treasurer of the company following the retirement of Karl Newlin. Pearson, 42, will manage state and local regulat ...

| --- | --- | --- | |------------------------------------------------------|-------|-------| | | | | | Interim Results & Strategic Update 29th July 2024 | | | Forward-looking statements Except for the historical information contained herein, the matters discussed in this statement include forward-looking statements. In particular, all statements that express forecasts, expectations and projections with respect to future matters, including trends in results of operations, margins, growth rates, overall marke ...

Financial Data and Key Metrics - Underlying sales excluding OPM increased by 2%, and adjusted operating profit rose by 4% to £250 million in H1 2024 [27] - Earnings per share remained flat at 25.6p, with higher net interest costs offset by the impact of the reduced share count due to the share buyback [27] - Operating cash flow increased by £50 million YoY, and free cash flow rose by £77 million, driven by strong underlying fundamentals and the phasing out of reorganization costs [28] - Net debt stood at £1.2 billion as of June 2024, up £0.3 billion YoY, primarily due to the £500 million share buyback and dividends, partially offset by strong free cash flow [29] - The interim dividend was proposed to increase by 6% to 7.4p, reflecting strong performance and confidence in the outlook [29] Business Line Performance - **Assessments and Qualifications**: Grew by 2%, driven by growth in VUE, clinical, and UK/International Qualifications, partially offset by a small decline in US student assessments [30] - **Virtual Schools**: Sales declined by 1% due to previously announced contract losses, but the division is expected to return to growth in 2025 [31] - **Virtual Learning**: Sales decreased by 8%, mainly due to the final portion of the OPM ASU contract in H1 2023 [32] - **Higher Education**: Sales declined by 2%, but there are encouraging signs of progress with small market share gains and growth in core text units, US digital subscriptions, and Inclusive Access [33] - **English Language Learning**: Grew by 11%, driven by strong growth in Institutional and Mondly, offsetting a decline in PTE sales [36] - **Workforce Skills**: Grew by 6%, with strong performances in Vocational Qualifications, GED, and Credly [38] Market Performance - **Higher Education**: Expected to return to growth in H2 2024, with Pearson+ performing well, reaching 5 million registered users and 1.1 million paid subscriptions, representing 18% growth [34] - **English Language Learning**: Market share gains in PTE despite a declining market, with expectations of high single-digit sales growth for the division [37] - **Workforce Skills**: Strong growth in Vocational Qualifications and GED, with a focus on expanding enterprise solutions [38] Strategic Direction and Industry Competition - The company is focusing on two powerful secular trends: demographic shifts and the growth of AI, which are expected to drive demand for verified skills and talent management [46] - Pearson is targeting higher-growth markets worth $80 billion, growing at 5% or more, compared to its current $15 billion markets growing at 2% [47][51] - The company is transitioning from a holding company to an operating company, with a focus on organic growth, execution, and strategic partnerships [48][49] - AI is a key strategic priority, with investments in AI-driven product innovation and customer service enhancements [57][58] Management Commentary on Operating Environment and Future Outlook - Management is confident in achieving mid-single-digit underlying sales growth and sustained margin improvement, with a focus on Assessments and Verifications, Early Careers, and Enterprise Skills [76][77] - The company expects to maintain strong free cash flow conversion in the range of 90% to 100% and a net debt-to-EBITDA ratio of around 2x [78] - AI is seen as a tool to accelerate value and growth, with significant potential for cost savings and productivity improvements [57][58] Other Important Information - The company has identified opportunities for cost savings through technology-enabled initiatives, including AI, which are expected to unlock tens of millions of pounds in savings over the medium term [80] - Pearson is focusing on strategic partnerships and M&A to accelerate growth, with a disciplined approach to capital allocation [84][85] Q&A Session Summary Question 1: Growth Guidance and Restructuring Costs - The company clarified that the 2% growth figure refers to its core markets, while the mid-single-digit growth target is driven by higher-growth adjacent markets [104][105] - Restructuring costs will be reported above the line, with savings expected to materialize within six months to a year [110][111] Question 2: Higher Education and ELL Performance - Higher Education is expected to return to growth in H2 2024, driven by improved sales operations and product stability [116][117] - In ELL, the company is confident in maintaining high single-digit growth, with strong performance in Institutional and Mondly offsetting PTE declines [128][129] Question 3: Cost Savings and Market Share - The company is leveraging AI and technology to drive cost savings, particularly in customer services and content generation [134][138] - Market share analysis shows significant growth potential in higher-growth segments, with a focus on expanding into $80 billion markets [144][145] Question 4: Revenue Synergies and Workforce Skills - The company sees significant opportunities for revenue synergies through bundling and cross-selling, particularly in Assessments and Verifications [153][154] - Workforce Skills is focused on talent planning, sourcing, and development, with a modular approach to solutions [159][160] Question 5: AI and Strategic Partnerships - AI is seen as a key driver of adoption and engagement, with significant potential to enhance the learning experience [167][168] - The company is open to strategic partnerships, particularly in AI and technology, to accelerate innovation and growth [190][191]

The cash outflow in the first half of 2023 relating to acquisitions of subsidiaries was £173m arising primarily from the acquisition of PDRI. In addition, there was a cash outflow relating to the acquisition of associates of £5m and investments of £6m. Businesses disposed The Group made no disposals of subsidiaries in H1 2024. In 2024, the cash outflow relating to costs paid in relation to the disposal of businesses in prior years was £6m. The cash outflow in the first half of 2023 relating to the disposal ...