Latest news with #CAC
The Star
a day ago
- The Star
China has dealt with over 3,500 non-compliant AI products since April
BEIJING, June 20 (Xinhua) -- China's cyberspace watchdogs have addressed issues with over 3,500 artificial intelligence (AI) products that were not compliant with relevant rules since April, including mini-programs, web applications and AI agents. This is a result of a campaign launched in April, targeting the abuse of AI technology in forms such as deepfake face-swapping and voice-cloning that infringes on public interests, as well as the failure to properly label AI-generated content that has misled the public, according to the Cyberspace Administration of China (CAC) on Friday. More than 960,000 items with illegal or harmful content were removed from the internet, and over 3,700 related accounts were shut down over the period, the CAC said. During this phase, the CAC instructed local cyberspace authorities to intensify their actions against non-compliant AI products, and to cut off their marketing and traffic channels. It urged major websites and platforms to strengthen their technical safeguards. Efforts were also made to accelerate the implementation of labeling regulations for AI-generated content. In the next phase of the campaign, the CAC will focus on prominent issues such as AI-generated rumors and vulgar online content, build a technical monitoring system, and standardize sanction protocols to maintain a healthy online environment and steer AI development in a more positive direction.
Cision Canada
4 days ago
- Business
- Cision Canada
New Study Reveals Canadian Airports Generate $123.5 Billion in Annual Economic Output and Support Nearly 436,000 Jobs
OTTAWA, ON, June 17, 2025 /CNW/ - The Canadian Airports Council (CAC) has released the findings of a new economic impact study showing the significant contribution of Canada's airports to the national economy. The study highlights that 61 airports across the country supported 435,800 full-time jobs, paid $32.9 billion in annual wages, contributed $49.6 billion to GDP and generated a total economic output of $123.5 billion in 2024. "At a time of global uncertainty and economic change, this report reaffirms what our members and communities have long understood: Airports are not only essential transportation hubs but also powerful economic engines," said Monette Pasher, President of the CAC. "They are essential to ensuring that Canada remains connected, competitive and ready to meet the challenges of a shifting global environment." The study, developed using an updated economic model based on Statistics Canada data and more than 30 airport economic reports, mirrors a similar CAC study from 2016, offering a direct comparison of industry growth over time. Key national-level findings include: Total employment supported by airport activity increased 22.8% from 2016. Total annual wages rose by 49.5%, to $32.9 billion. Total GDP linked to airports reached $49.6 billion. Annual economic output grew 56.3% over 2016 levels. "This growth is a testament to the resilience of the aviation sector and its vital role in connecting Canadians, supporting local businesses and enabling trade," added Pasher. "As we look ahead, continued investment in airport infrastructure and policies that support sustainable growth are essential." While the pandemic brought disruption to the aviation industry, the latest data shows that Canada's airports have staged a strong recovery. Passenger levels are once again approaching pre-pandemic highs and the movement of goods by air has grown substantially, reflecting renewed confidence in global trade and travel. The study also emphasizes the interconnected nature of airport-driven economic activity, where jobs at airports help sustain a wider ecosystem of employment in sectors such as tourism, logistics and manufacturing. "This study gives policymakers a clear view of the outsized economic impact airports deliver every day," Pasher concluded. "With the right support, airports can do even more to drive job creation, trade, tourism and long-term prosperity." While large Canadian airports have rebounded strongly since the COVID-19 pandemic, some face development pressure that could imperil needed growth. Meanwhile, many smaller regional and remote airports continue to face reduced flight frequencies and weakened connectivity. This decline carries real economic consequences. Regional air service is often a community's only link to essential services, trade routes and economic opportunity. According to the report, a single regional flight can support up to 210 jobs and generate $41.2 million in economic output. Ensuring reliable air service to these areas is critical to safeguarding local economies and making the benefits of aviation accessible to all Canadians. The full economic impact study is available at The Canadian Airports Council (CAC), a division of Airports Council International-North America, is the voice for Canada's airports community. Its 60 members represent more than 100 airports, including all of the privately-operated National Airports System (NAS) airports and many municipal airports across Canada.
Yahoo
4 days ago
- Business
- Yahoo
New Study Reveals Canadian Airports Generate $123.5 Billion in Annual Economic Output and Support Nearly 436,000 Jobs
OTTAWA, ON, June 17, 2025 /CNW/ - The Canadian Airports Council (CAC) has released the findings of a new economic impact study showing the significant contribution of Canada's airports to the national economy. The study highlights that 61 airports across the country supported 435,800 full-time jobs, paid $32.9 billion in annual wages, contributed $49.6 billion to GDP and generated a total economic output of $123.5 billion in 2024. "At a time of global uncertainty and economic change, this report reaffirms what our members and communities have long understood: Airports are not only essential transportation hubs but also powerful economic engines," said Monette Pasher, President of the CAC. "They are essential to ensuring that Canada remains connected, competitive and ready to meet the challenges of a shifting global environment." The study, developed using an updated economic model based on Statistics Canada data and more than 30 airport economic reports, mirrors a similar CAC study from 2016, offering a direct comparison of industry growth over time. Key national-level findings include: Total employment supported by airport activity increased 22.8% from 2016. Total annual wages rose by 49.5%, to $32.9 billion. Total GDP linked to airports reached $49.6 billion. Annual economic output grew 56.3% over 2016 levels. "This growth is a testament to the resilience of the aviation sector and its vital role in connecting Canadians, supporting local businesses and enabling trade," added Pasher. "As we look ahead, continued investment in airport infrastructure and policies that support sustainable growth are essential." While the pandemic brought disruption to the aviation industry, the latest data shows that Canada's airports have staged a strong recovery. Passenger levels are once again approaching pre-pandemic highs and the movement of goods by air has grown substantially, reflecting renewed confidence in global trade and travel. The study also emphasizes the interconnected nature of airport-driven economic activity, where jobs at airports help sustain a wider ecosystem of employment in sectors such as tourism, logistics and manufacturing. "This study gives policymakers a clear view of the outsized economic impact airports deliver every day," Pasher concluded. "With the right support, airports can do even more to drive job creation, trade, tourism and long-term prosperity." While large Canadian airports have rebounded strongly since the COVID-19 pandemic, some face development pressure that could imperil needed growth. Meanwhile, many smaller regional and remote airports continue to face reduced flight frequencies and weakened connectivity. This decline carries real economic consequences. Regional air service is often a community's only link to essential services, trade routes and economic opportunity. According to the report, a single regional flight can support up to 210 jobs and generate $41.2 million in economic output. Ensuring reliable air service to these areas is critical to safeguarding local economies and making the benefits of aviation accessible to all Canadians. The full economic impact study is available at About the Canadian Airports Council The Canadian Airports Council (CAC), a division of Airports Council International-North America, is the voice for Canada's airports community. Its 60 members represent more than 100 airports, including all of the privately-operated National Airports System (NAS) airports and many municipal airports across Canada. Canada's airports support 435,800 jobs, provide $32.9 billion in annual wages, generate $49.6 billion in GDP and produce $123.5 billion of annual economic output. SOURCE Canadian Airports Council View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-06-2025
- Business
- Yahoo
Oportun Surges 80.7% YTD: Is It Too Late to Buy OPRT Stock?
Oportun Financial Corporation's OPRT shares have soared 80.7% this year, significantly outperforming the Zacks Finance sector. Additionally, the stock has performed extremely well compared with its close peers — Enova International, Inc. ENVA and Regional Management Corp. RM. OPRT YTD Price Performance Image Source: Zacks Investment Research At present, tariff-related concerns and escalating geopolitical tensions pose major risks. Let us figure out whether OPRT stock can maintain its ongoing momentum. Solid Loan Growth to Support Revenues: Oportun's revenue growth has been impressive over the past few years, driven by solid loan growth and higher interest rates. The company's total revenues and loans receivable at fair value witnessed a 5-year (ended 2024) compound annual growth rate (CAGR) of 10.8% and 8.1%, respectively. Both metrics declined during the first three months of 2025 on a year-over-year basis. Revenue Trend Image Source: Zacks Investment Research Oportun has been driving loan growth through its diverse offerings, including personal loans, secured personal loans and 'lending as a service' partnership programs, to expand its client base and presence in several markets. Such offerings enable the company to generate a higher yield on its loan portfolio to boost interest income. Also, the company has been reducing its customer acquisition costs (CAC) through higher organic growth. As of March. 31, 2025, CAC was $139 compared with $138 as of March 31, company has been witnessing rising non-interest income through higher subscriptions and servicing fees. OPRT's non-interest income reflected a CAGR of 6.4% over the five years ended 2024. Nonetheless, the metric declined during the first quarter of 2025 on a year-over-year solid loans receivables at fair value, solid fee income performance and product diversification efforts will continue to bolster its top-line growth. Though the company's loan growth is likely to be subdued this year amid inflationary pressure and higher-for-longer rates, the same is likely to improve once the macroeconomic backdrop turns favorable. Sales Estimates Image Source: Zacks Investment Research Management expects total revenues to be in the range of $237-$242 million in the second quarter of 2025, down from $250.4 million in the prior-year quarter. Also, the metric is expected to be $945-$970 million in 2025 compared with $1 billion in Technology Usage: Oportun has been leveraging technology to boost its underwriting standards and offer personalized customer service. The company uses artificial intelligence (AI), particularly machine learning (ML), to use alternative datasets to assess the credit profiles of its clients. This enables it to provide a score to roughly all its clients, including those who have little to no credit drives enhanced underwriting, leading to lower default risks, and ensures consistent revenue growth while mitigating costs. Further, the lending database allows OPRT to scale up its operations efficiently with minimal infrastructure OPRT offers the Set & Save product, which helps its clients manage their money by analyzing their obligations and expense routines. Thus, the assimilation of sophisticated technology to address its customers' needs offers Oportun a competitive edge over its traditional counterparts, who often rely on traditional datasets to provide credit scores. This enables OPRT to grow its market share rapidly and achieve efficiency alongside solid Balance Sheet: As of March 31, 2025, Oportun's cash and cash equivalents (including restricted cash) totaled $231 million. It had a debt (including lease liabilities and other liabilities) of $69.9 million as of the same has diverse sources to fund its loan growth, including cash flows from operations, securitizations, secured borrowings, corporate financing, and structured and whole loan a strong liquidity sheet position and a diversified funding profile will continue to support the company's financials. In terms of valuation, Oportun's price-to-book ratio (P/B) of 0.72X is lower than the industry's 3.48X. Thus, the stock is trading at a discount. This suggests that investors may pay a lower price than the company's expected earnings growth. P/B Ratio Image Source: Zacks Investment Research On the other hand, Enova and Regional Management have P/B ratios of 2.01X and 0.81X, respectively. This reflects that Oportun stock is inexpensive compared with its peers. Over the past month, the Zacks Consensus Estimate for Oportun's 2025 and 2026 earnings of $1.18 and $1.65 per share has been revised 1.7% and 4.6% lower, respectively. Estimate Revision Trend Image Source: Zacks Investment Research The projected figures imply year-over-year earnings growth of 63.9% and 39.2% for 2025 and 2026, anticipates 2025 adjusted net income to be in the range of $53-$63 million compared with $29.3 million in 2024. Moreover, 2025 adjusted earnings per share are expected to be in the range of $1.10-$1.30, up from 72 cents in 2024. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) Oportun is well-positioned for growth, given its solid loan growth, partnership programs and improving fee income. Further, product diversification efforts and the usage of AI and ML are expected to drive technology-driven lending will likely boost OPRT's operational efficiency in the long run and support sophisticated credit underwriting. Moreover, a solid balance sheet and diversified funding profile suggest financial stability. Discounted valuation is another Oportun is utilizing shareholders' funds efficiently. This is demonstrated by the company's return on equity (ROE) of 10.12%, which compares favorably with the industry's 8.06%. OPRT's Return on Equity Trend Image Source: Zacks Investment Research On the contrary, Enova and Regional Management have ROEs of 21.79% and 10.57%, respectively. However, a persistent increase in expenses is a headwind. Operating expenses recorded a five-year CAGR of 2.5% (ended 2024) due to higher sales and marketing, technological, and personnel expenses. Last year, the company introduced a plan to reduce expenses by $30 million on an annualized basis. Though operating expenses declined during the first three months of 2025 on a year-over-year basis, overall expenses are expected to be elevated as the company intends to enhance its technology and raise headcount as it expands into different markets. Expense Trend Image Source: Zacks Investment Research Also, the company has been witnessing weak asset quality over the years. Its net charge-offs (NCOs) reflected a CAGR of 19.7% over the five years ended 2024. This has been primarily driven by the higher back book loans. It expects to have a lesser back book impact in 2025. Though the trend reversed during the first quarter of 2025, given a tough operating backdrop, NCOs are likely to remain elevated. Moreover, bearish analyst sentiments for OPRT stock remain a concern as well. Thus, Oportun stock remains a cautious bet for investors. Those who own it can continue holding the stock for long-term OPRT carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Regional Management Corp. (RM) : Free Stock Analysis Report Enova International, Inc. (ENVA) : Free Stock Analysis Report Oportun Financial Corporation (OPRT) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Star
12-06-2025
- Business
- The Star
Australia, Japan combine to boost Cambodian cashew industry
Cambodian farmers sorting cashew nuts. -Australian embassy PHNOM PENH: Australia and Japan are collaborating to strengthen Cambodia's cashew industry by helping improve processing capabilities and the quality and flavour of the kingdom's nuts. In 2024, only about five per cent of the kingdom's harvested cashews were processed domestically, with the vast majority exported before value was added. According to June 10 post by the Australian embassy in Cambodia, Australia and Japan are working together to strengthen Cambodia's cashew sector through complementary support that can increase processing capacity and see more delicious, high quality Cambodian cashews reach global markets. It reiterated that only about five per cent of the 840,000 tonnes of cashews grown in Cambodia last year was processed in country. 'If more of this yield can be processed in Cambodia, the country can capture more value and generate more jobs and wealth,' it noted. The embassy added that, with support from both governments, Kampong Thom-based cashew processing company MIRARTH Agri Tech is 'helping to advance in-country processing, showcase Cambodia's cashews to global markets, and ensure smallholder farmers who grow these cashews benefit from more stable, fair prices'. Japanese support has helped the company improve supply chains and undertake feasibility studies for cashew processing and minimising waste. Australian backing, meanwhile, has helped MIRARTH enhance its export readiness, including through coaching, business matchmaking and participation in the 2025 World Cashew Conference – resulting in preliminary agreements with several companies. According to the embassy, MIRARTH plans to process 3,000 tonnes of cashew in 2025 and work towards a zero-waste approach. 'This collaborative approach between Australia and Japan reflects our shared commitment to advance high-potential sectors in Cambodia – improving productivity, employment and livelihoods whilst driving sustainable economic growth,' it said. The Cashew Nut Association of Cambodia (CAC) previously reported that as of March 2025, Cambodia had 52 cashew processing enterprises, including 6 medium-sized factories (with production capacity between 7,000 and 140,000 tonnes annually). The remaining 46 enterprises are small, family-run businesses without year-round production. According to the association, Cambodia produced 850,000 tonnes of raw cashew nuts in 2024, with 815,000 tonnes exported — mostly to Vietnam — an increase of 21 per cent compared to 2023. The total export value was approximately $1.15 billion, up 26.1 per cent. Cambodia is currently home to about 700,000 hectares of cashew plantations, of which 580,117 hectares are harvest-ready, with the rest being newly planted areas. Cashews are grown in almost every province, but predominantly in Kampong Thom, Kratie, Ratanakiri, Stung Treng, Kampong Cham, Tboung Khmum, Preah Vihear, Siem Reap, Oddar Meanchey, Kampong Chhnang and Mondulkiri, according to the CAC. - The Phnom Penh Post/ANN
