Latest news with #ACIC
ABC News
12-05-2025
- ABC News
High Court to decide if information gathered on encrypted messaging app AN0M was legally obtained
The High Court will on Tuesday delve into the murky world of organised crime and encrypted messaging on an app known as AN0M, which was secretly controlled by the FBI and the Australian Federal Police (AFP). The operation known as "Ironside" began in 2018, when phones with the app began to circulate among criminal elements, encouraged by people the police identified as "criminal influencers", who unwittingly recommended the devices. It appeared to be a secure way to send messages, except that every communication was being copied and forwarded to police. In 2021 there was a worldwide crackdown. The app had collected about 28 million messages, including 19 million relating to Australia. The Australian Criminal Intelligence Commission (ACIC) said there were nearly 1,000 arrests globally, with 42 tonnes of illicit drugs and $US58 million in cash and crypto currency seized. According to AFP data, there have been nearly 100 people in Australia charged, with drugs, firearms, and substantial amounts of money seized. The ACIC said at the time the operation "provided voluminous, invaluable intelligence and insight that has never been obtained before by Australian law enforcement". But now two South Australian men, who are alleged members of the Comancheros bikie group, want the High Court to find that information was not legally obtained. The two are charged with belonging to a criminal group and possession of prohibited firearms. Their lawyers will tell the High Court the evidence against them collected from AN0M should be inadmissible in their trial, because its collection breached The Telecommunications (Interception and Access) Act 1979. "The question is whether communications obtained covertly by the AN0M application were obtained as the result of an unlawful interception," their submissions to the court said. The pair have so far failed in two appeals against the use of the information, but were granted special leave to appeal by the High Court last year. Soon afterwards the case took a new turn when the Commonwealth changed the law, to back up the use of the app by police. On Tuesday the High Court will also consider if the new law is valid. In their submissions the men's lawyers said it interferes with the exercise of judicial power guaranteed under the constitution. "It is an invalid exercise of legislative power," submissions for the men said. The lawyers will tell the High Court the new law undermines the institutional integrity of the courts, removing the "fact finding" function which is a hallmark of judicial power. But the Commonwealth will tell the High Court the new law does not direct the courts to find any fact, and is valid under the constitution. The Commonwealth also said in its submissions the new act made no difference to the interception laws. "[The] Court of Appeal was correct to conclude that the AN0M evidence did not involve an interception in contravention … of the Interception Act," Commonwealth submissions said. The attorneys-general for New South Wales, Western Australia and Victoria have intervened, along with the Director of Public Prosecutions for South Australia, which has applied to intervene in support of the Commonwealth.
Washington Post
08-05-2025
- Business
- Washington Post
American Coastal: Q1 Earnings Snapshot
SAINT PETERSBURG, Fla. — SAINT PETERSBURG, Fla. — American Coastal Insurance Corporation (ACIC) on Thursday reported first-quarter net income of $21.3 million. On a per-share basis, the Saint Petersburg, Florida-based company said it had profit of 43 cents. Earnings, adjusted to account for discontinued operations, came to 42 cents per share.
Mint
22-04-2025
- Business
- Mint
Samhi Hotels share price soars over 45% from its 52-week low. Time to buy this small-cap hotel stock?
Samhi Hotels share price has surged over 45% from its 52-week lows on Tuesday's session. Technical analysts, highlighted that Samhi Hotels share price swept its IPO lows of ₹ 127.25 and rallied over 51% in just 9 sessions, backed by strong volume spikes above the 50-day average. Samhi Hotels share price today slumped 3%, the stock opened at ₹ 182.05 apiece on the BSE. The hotel stock touched an intraday high of ₹ 182.75 apiece, and an intraday low of ₹ 176.10 per share. Anshul Jain, Head of Research at Lakshmishree Investment and Securities, explained that after this sharp move, a brief consolidation and moving average catch-up are likely for the next 1–2 weeks. Once the base builds, the next leg of the rally towards ₹ 225 looks highly probable. Traders should keep it on radar for a post-consolidation breakout. PhillipCapital India has begun coverage on the hotel stock, assigning it a 'Buy' rating and establishing a target price of ₹ 243, anticipating a potential growth of 38%. The domestic brokerage noted in its report that it favors the company due to the stability provided by corporate travelers, partnerships with global flags, proven proficiency in turnaround strategies, and enhancements in key mix. SAMHI has strategically invested in major office markets such as Bangalore, Hyderabad, Pune, and Delhi NCR, which experience high demand. This strategy mitigates the cyclicality commonly observed in the leisure sector. Furthermore, over the years, the management has refined its approach to identifying undervalued or distressed assets and enhancing them to their true inherent worth. The company's exposure to the upper upscale and upscale segments is projected to grow from 22% of key inventory in FY24 to 27% in FY27. This upward shift is expected to lead to increased income from assets and an enhancement in operating margins by 600-1000 basis points for the same hotel. Moreover, the report indicates that the firm has experienced a rise in operating margin from 28% in FY24 to 35% in 9MFY25, attributed to a decrease in ESOP costs and enhanced margins in the ACIC portfolio. Additional margin growth is anticipated as the ESOP costs continue to decline and the margins in ACIC stabilize. The current Net Debt to EBITDA ratio stands at 4.9x; however, with a notable increase in operating profit, we forecast this will drop to 3.1x by FY27. "SAMHI is the largest multi brand hotel operator in India with 4,823 keys across 31 hotels in 13 major cities (post sale of Four Points by Sheraton in Chennai in February 2025). Through strong institutional backing they have mastered the acquisition and turn around model approach in large office markets where a significant mismatch in demand and supply exists. They currently operate at an occupancy level of 74% as on 9MFY25 and we are expecting this to increase to ~75% by FY27. We are expecting an increase of 10.4% in ARR and 11.4% in RevPAR over the next three years. We expect a CAGR growth of 8.9% / 11.9% / 58.9% in Net Sales / EBITDA / PAT respectively for the period between FY25E-27E. We initiate coverage with a Target Price of ₹ 243/- with a potential upside of 37.8%," said PhillipCapital India in its report. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision. First Published: 22 Apr 2025, 02:35 PM IST
Yahoo
16-04-2025
- Yahoo
Arkansas police chief, son arrested after investigation
MEMPHIS, Tenn. — A Harrisburg, Arkansas, Police Chief and his son were arrested on multiple charges Wednesday, according to the Poinsett County Sheriff's Office. Chief Eric Moore is charged with furnishing a handgun or a prohibited weapon to a felon, and three counts of ACIC release or disclosure to an unauthorized person. His son, Brandon Moore, is charged with possession of firearms by certain persons first degree, two counts of criminal impersonation second degree, and criminal impersonation first degree. The investigation began April 4 when the town's mayor raised concerns about Moore allowing his convicted felon son to ride in his patrol vehicle. Witnesses, including deputies and police officers, reported that Brandon was present in Chief Moore's vehicle wearing police gear and accessing 'sensitive law enforcement resources.' Chief Moore's bond was set at $5,000, and a $25,000 bond was set for his son during a probable cause hearing. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
