CUBE LAUNCHES REGPLATFORM™ INTEL TO TRANSFORM THE MID-MARKET REGULATORY INTELLIGENCE LANDSCAPE IN FINANCIAL SERVICES
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Cision Canada
6 hours ago
- Cision Canada
American Airlines adds destinations and increases capacity between Québec City and the United States Français
Service to Dallas-Fort Worth Will Boost Regional Tourism QUÉBEC CITY, Aug. 9, 2025 /CNW/ - Québec City Jean Lesage International Airport (YQB), Destination Québec cité, and the City of Québec are delighted that American Airlines is adding to its service from Québec City, particularly with a new direct route between Québec City and Dallas-Fort Worth, Texas. Starting today, American will offer a direct flight every Saturday between YQB and Dallas-Fort Worth International Airport (DFW), until November 1, 2025. American will operate non-stop service to DFW with Embraer 175 aircraft that feature premium cabins. American Airlines is also increasing its non-stop service to Charlotte (CLT), North Carolina, now offering a daily flight to the major hub until October 5, then a weekly flight until November 1, 2025. These services join the daily summer flights to Philadelphia (PHL) and Chicago (ORD), giving Québec City passengers more options for direct flights to the U.S. Given that Québec City is asserting itself as a leading tourist destination in North America and the United States is its main international market, the new fall route to DFW will be a major boon for American cruise passengers. What's more, American Airlines expanding its services in Québec City will help develop high-potential markets such as California, the Southeastern U.S., and Florida. QUOTES "We're delighted to have Dallas-Fort Worth added to our selection of destinations, and to see the route between Québec City and Charlotte increase in frequency as well. With four destinations now offered, American Airlines has shown great confidence in us. These additions will also improve connectivity to destinations such as the Caribbean, Europe, and all of the United States, since DFW, Charlotte, Chicago, and Philadelphia are all key hubs for the airline." – Stéphane Poirier, President and CEO of YQB "The addition of a direct link between Québec City and Dallas represents a major strategic driver of development for our destination, both as a port of embarkation for international cruises and as a fall getaway city. By connecting Québec City to one of the largest hub airports in the United States, this flight makes it easier for more American travellers to access the region. It will help increase our visibility on the international market while generating tangible economic benefits for Québec City and the surrounding municipalities." – Julie Harvey, Director, International Marketing Section at Destination Québec cité "The airport is a major driver of tourism development for our city, and I am delighted to see its services expanded even further. The new direct route to Dallas-Fort Worth strengthens our position as a must-visit tourist destination in North America, while opening the door to significant economic benefits. Even more Americans will have the opportunity to come and discover our beautiful city, especially during the fall foliage season." – Bruno Marchand, Mayor of Québec City "We're excited to be further extending our reach into Canada, adding more flights to Québec City as we further connect the U.S. to the ever-growing tourist destination. Our new seasonal weekly service from Dallas-Fort Worth provides customers with a greater opportunity to explore the scenery, history, and culture Québec City has to offer." – José A. Freig, VP International and Inflight Dining Operations, American Airlines About Québec City Jean Lesage International Airport (YQB) YQB is managed by Aéroport de Québec Inc., a private corporation responsible for the airport's management, operation, maintenance, and development since November 1, 2000. Around a dozen carriers offer flights from YQB to destinations in North America, Central America, the Caribbean, Mexico, and Europe, and daily flights to the main hubs in eastern North America. About Destination Québec cité Destination Québec cité has over 825 members spread across a territory that includes Québec City, L'Ancienne-Lorette, Saint-Augustin-de-Desmaures, Wendake, and the surrounding areas of Portneuf, La Jacques-Cartier, Île d'Orléans, and Côte-de-Beaupré. In short, Destination Québec cité guides and drives growth in the tourism industry and contributes to its economic prosperity by supporting marketing and development, welcoming tourists, and providing information about the area. Véronique Boulanger, Communications Advisor, Public Relations Media Relations and Spokesperson Destination Québec cité Tel.: 581-985-7440 [email protected]
Canada News.Net
17 hours ago
- Canada News.Net
Intel CEO faces Trump call to step down over Chinese investments
WASHINGTON, D.C.: President Donald Trump demanded that Intel CEO Lip-Bu Tan step down immediately, calling him "highly conflicted" over his past investments in Chinese technology firms, some linked to the Chinese military. Reuters previously reported that Tan, through personal and venture fund investments, put at least US$200 million into hundreds of Chinese advanced manufacturing and chip companies between 2012 and 2024. Many of the firms were identified by U.S. analysts as having military connections. "The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem," Trump wrote on Truth Social. His remarks came after Republican Senator Tom Cotton sent a letter to Intel's board chair questioning Tan's Chinese business ties and a recent criminal case involving Cadence Design, Tan's former company. Intel shares fell three percent this week. The company said it, its board, and Tan remain committed to "advancing U.S. national and economic security interests" and aligning with Trump's "America First" agenda. Tan did not respond to Reuters' request for comment. Trump's intervention is unusual for a sitting president and has drawn mixed reactions from investors. "It would be setting a very unfortunate precedent … but certainly his opinion has merit and weight," said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. Bernstein analyst Stacy Rasgon said Tan's China links were "creating an increasingly bad look" and noted he lacks the personal relationship with Trump that some other tech CEOs have built. Tan, a Malaysian-born Chinese American, became Intel CEO in March after Pat Gelsinger was ousted. Earlier this year, Reuters reported on 20 funds and companies in which Tan's Walden venture firm was a co-owner alongside Chinese government entities. Some investments were listed as current in Chinese databases despite a source telling Reuters that Tan had divested. While CEO of Cadence from 2008 to 2021, Tan oversaw sales of chip design software to a Chinese military university. Last month, Cadence agreed to plead guilty and pay over $140 million to resolve U.S. charges tied to those sales. Intel, once a leader in chip manufacturing, has been losing market share in data centers and PCs to AMD and missed the surge in AI chips dominated by Nvidia. Its market value has dropped below $100 billion, down from highs before a more than 60 percent plunge last year. Tan has shifted strategy, cutting jobs, shelving planned plants, and slowing work on its Ohio factory, now set for completion in 2030–31. The site was a significant beneficiary of $8 billion in CHIPS Act subsidies. Ohio Senator Bernie Moreno has suggested a fraud investigation into Intel's state commitments.
Cision Canada
18 hours ago
- Cision Canada
Crown Capital Partners Announces Q2 2025 Financial Results
CALGARY, AB, Aug. 8, 2025 /CNW/ - Crown Capital Partners Inc. ("Crown" or the "Corporation") (TSX: CRWN) today announced its financial results for the three and six months ended June 30, 2025. Crown's complete financial statements and management's discussion and analysis are available on SEDAR at Q2 2025 Financial & Operating Overview Crown recognized a net loss of $(3.5) million ($0.62 loss per basic share) in Q2 2025 compared to a net loss of $(15.2) million ($2.71 loss per basic share) in Q2 2024. Adjusted EBITDA 1 was $1.3 million in Q2 2025 compared to $1.9 million in Q2 2024 due primarily to decreased earnings from the Distribution Services, Network Services, Real Estate and Distributed Power segments, partially offset by reduced expenses of the Corporate and Other segment. Distribution services revenue was $10.8 million in Q2 2025 compared to $9.4 million in Q2 2024, an increase of 15.7%. This segment reported net loss before income taxes of $0.2 million (2024 – net income before income taxes $0.3 million) and Adjusted EBITDA of $0.8 million (2024 - $1.0 million), with the year-over-year decline primarily attributable to an increase in payments of lease obligations. Capacity utilization was 62% at June 30, 2025 (June 30, 2024 - 58%). Network services revenue was $6.1 million in Q2 2025 compared to $5.9 million in Q2 2024, an increase of 3.4% attributable to a year-over-year increase in revenues due to additional hardware sales in Galaxy and modest increases from Community Network Partners in respect of revenues from the high speed internet infrastructure project in Brooks, Alberta and the Ontario Connects: Accelerated High-Speed Internet Program (the "Ontario Connects Program"), partially offset by a decrease in revenues from the continued runoff of customer contracts in WireIE. This segment reported a net loss before income taxes of $(0.7) million (2024 –$(0.4) million) and Adjusted EBITDA of $0.5 million (2024 - $0.5 million). Real Estate segment revenue was $1.0 million in Q2 2025 compared to $1.2 million in Q2 2024, a decrease of 16.6% year-over-year due primarily to reduced leasing activity during the quarter. This segment recorded a net loss before income taxes of $(1.0) million (2024 – net income before income taxes of $0.3 million) and Adjusted EBITDA of $(0.05) million (2024 - $0.4 million). Distributed Power revenue was $0.1 million in Q2 2025 compared to $0.4 million in Q2 2024, a decrease of 64.3% due to softer power prices in the Alberta market. This segment reported a net loss before income taxes of $(0.3) million (2024 –$0.2 million) and Adjusted EBITDA of $(0.1) million (2024 - $(0.1) million). The Specialty Finance segment recorded a net loss before income taxes of $(0.01) million in Q2 2025 (Q2 2024 - $(13.6) million), representing Crown's share of earnings of Crown Partners Fund, and Adjusted EBITDA of $nil (2024 - $0.2 million), representing income distributions received from Crown Partners Fund. Total equity at quarter-end decreased to $3.8 million from $8.6 million at the end of 2024 due primarily to a net loss attributable to shareholders of $(5.3) million. Total equity per share decreased to $0.64 per basic share from $1.53 per basic share as at December 31, 2024. Q2 2025 Financial Results Summary Three Months Ended Six Months Ended FOR THE PERIODS ENDED JUN. 30 (THOUSANDS, EXCEPT PER SHARE AND NUMBER OF COMMON SHARES) 2025 2024 2025 2024 Revenue: Distribution services revenue $ 10,839 $ 9,368 $ 21,625 $ 17,577 Network services revenue 6,107 5,909 14,832 12,628 Fees and other income 1,397 1,709 2,763 3,720 Distributed power interest revenue 99 185 199 368 Merchant power revenue 19 195 161 799 Total revenue 18,461 17,366 39,580 35,092 Share of (losses) earnings from investments in associates (70) (17,594) 109 (15,367) Loss attributable to Shareholders (3,513) (15,153) (5,309) (15,757) Comprehensive loss attributable to Shareholders (3,334) (15,181) (5,127) (15,865) Adjusted EBITDA 1 1,312 1,885 2,995 2,986 Total assets 142,668 176,654 142,668 176,654 Total equity 3,838 38,228 3,838 38,228 Per share: - Net loss to Shareholders - basic $ (0.62) $ (2.71) $ (0.94) $ (2.82) - Net loss to Shareholders - diluted (0.62) (2.71) (0.94) (2.82) - Adjusted EBITDA per share - basic 1 0.23 0.34 0.53 0.53 - Total equity per share - basic 0.64 6.84 0.64 6.84 Number of common shares: - Outstanding at end of period 5,977,832 5,588,646 5,977,832 5,588,646 - Weighted average outstanding - basic 5,676,000 5,588,646 5,652,056 5,588,646 - Weighted average outstanding - diluted 5,676,000 5,588,646 5,652,056 5,588,646 Quarterly reconciliations of loss before income taxes to Adjusted EBITDA 2025 2024 2023 FOR THE PERIODS ENDED (THOUSANDS) Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Loss before income taxes (3,372) (1,536) (10,883) (2,632) (14,885) (306) (5,414) (2,154) Adjustments for amounts attributable to shareholders in relation to: 1 Depreciation and amortization 2,995 3,036 3,125 2,826 2,802 2,718 3,122 2,314 Finance costs 2,613 1,990 2,533 2,413 1,975 2,057 1,828 1,754 Payments of lease obligations (1,463) (1,453) (1,381) (1,350) (1,324) (1,299) (1,306) (1,273) Share-based compensation (recovery) expense (92) (101) 121 (358) (340) (138) (264) 2 Impairments of assets held for sale, inventory, property and equipment, and property and equipment under development and related deposits - - 8,162 - - - 2,618 - Loss on disposal of assets held for sale - - 13 - 22 - - - Remeasurement of financial instruments - (80) (1,088) - - - - - (Recovery of) provision for expected credit losses (1) (1) (115) 140 2 4 98 (123) Share of losses (earnings) from investments in associates 70 (179) 516 (235) 17,594 (2,227) (483) (210) Income distributions received from Crown Partners Fund - 3 4 - 157 - 231 90 Performance bonus (recovery) expense - - - - (4,015) 482 73 3 Foreign exchange loss (gain) on intercompany balances 562 4 (606) 129 (103) (190) 250 (216) Adjusted EBITDA 1,312 1,683 401 933 1,885 1,101 753 187 Notes: 1. Adjustments exclude any amounts attributable to non-controlling interests. Notes: 1. Adjustments exclude any amounts attributable to non-controlling interests. Notes: 1. Adjustments exclude any amounts attributable to non-controlling interests. Notes: 1. Adjustments exclude any amounts attributable to non-controlling interests. Notes: 1. Adjustments exclude any amounts attributable to non-controlling interests. 1 Adjusted EBITDA is not a measure of financial performance (nor does it have a standardized meaning) under IFRS. In evaluating this measure, investors should consider that the methodology applied in calculating these measures might differ among companies and analysts. The Corporation has provided a reconciliation of loss before income taxes attributable to Shareholders to Adjusted EBITDA in this news release. Amounts in respect of non-controlling interests are excluded in the calculation of Adjusted EBITDA. We believe that Adjusted EBITDA is a useful supplemental measure in the context of Crown's operations to assist investors in assessing the performance of our business as it provides a more relevant picture of operating results by facilitating a comparison of our performance on a consistent basis from period-to-period and provides a more complete understanding of factors and trends affecting our business. Adjusted EBITDA should not be considered as the sole measure of Crown's performance and should not be considered in isolation from, or as a substitute for, analysis of the Corporation's financial statements. About Crown Capital Partners (TSX: CRWN) Founded in 2000 within Crown Life Insurance Company, Crown Capital Partners is a capital partner to entrepreneurs and growth businesses mainly operating in the telecommunications infrastructure, distribution services, and distributed power markets. We focus on growth industries that require a specialized capital partner, and we aim to create long-term value by acting as both a direct investor in operating businesses serving these markets and as a manager of investment funds for institutional partners. For additional information, please visit FORWARD-LOOKING STATEMENTS This news release contains certain "forward looking statements" and certain "forward looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements in this news release include, but are not limited to, statements, management's beliefs, expectations or intentions regarding the distribution services market, the network services market and the general economy, Crown's business plans and strategy, including anticipated investment dispositions and capital deployments and the timing thereof, anticipated refinancing activity and Crown's future earnings. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Crown's periodic filings with Canadian securities regulators. See Crown's most recent annual information form for a detailed discussion of the risk factors affecting Crown. In addition, Crown's dividend policy will be reviewed from time to time in the context of the Corporation's earnings, financial requirements for its operations, and other relevant factors and the declaration of a dividend will always be at the discretion of the board of directors of the Corporation. Crown undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SOURCE Crown Capital Partners Inc.
