logo
Camden National: Q2 Earnings Snapshot

Camden National: Q2 Earnings Snapshot

CAMDEN, Maine (AP) — CAMDEN, Maine (AP) — Camden National Corp. (CAC) on Tuesday reported second-quarter profit of $14.1 million.
The Camden, Maine-based bank said it had earnings of 83 cents per share. Earnings, adjusted for one-time gains and costs, came to 89 cents per share.
The bank posted revenue of $92.4 million in the period. Its revenue net of interest expense was $62.3 million, which beat Street forecasts.
Camden National shares have declined 3% since the beginning of the year. The stock has risen 2% in the last 12 months.
_____
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

China summons Nvidia over 'backdoor safety risks' in H20 chips
China summons Nvidia over 'backdoor safety risks' in H20 chips

Yahoo

time9 minutes ago

  • Yahoo

China summons Nvidia over 'backdoor safety risks' in H20 chips

WASHINGTON (AP) — China's cyberspace regulators on Thursday summoned Nvidia over security concerns that its H20 chips can be tracked and turned off remotely, the Cyberspace Administration of China said on its website. In the meeting, Chinese regulators demanded that the U.S. chip company provide explanations on 'backdoor safety risks' of its H20 chips to be sold in China and submit relevant materials, the office said. 'Cybersecurity is critically important to us. NVIDIA does not have 'backdoors' in our chips that would give anyone a remote way to access or control them,' an Nvidia spokesperson said in a statement to AP. It came just about two weeks after the Trump administration lifted the block on the computing chips and allowed Nvidia to resume sales of H20 chips to the Chinese market. Jensen Huang, chief executive of Nvidia, made the announcement with fanfare when he was in Beijing earlier this month. The latest episode appears to be another turbulence in the tech rivalry between the United States and China, which have left businesses in both countries tussling with governments over market access and national security concerns. Any safety concern by Beijing could jeopardize the sale of H20 chips in China. Citing unnamed U.S. AI experts, the Chinese regulators said Nvidia has developed mature technology to track, locate and remotely disable its computing chips. The regulators summoned Nvidia to 'safeguard the cybersecurity and data security of Chinese users,' in accordance with Chinese laws, the statement said. The statement also referred to a call by U.S. lawmakers to require tracking and locating capabilities on U.S. advanced chips sold overseas. In May, Rep. Bill Huizenga, R.-Michigan, and Rep. Bill Foster, D.-Illinois, introduced the Chip Security Act that would require high-end chips to be equipped with 'security mechanisms' to detect 'smuggling or exploitation.' The bill has not moved through Congress since its introduction. Foster, a trained physicist, then said, 'I know that we have the technical tools to prevent powerful AI technology from getting into the wrong hands.' The U.S. still bans the sale to China of the most advanced chips, which are necessary for developing artificial intelligence. Both countries aim to lead in the artificial intelligence race. The Trump administration in April blocked the sales of H20 chips, which Nvidia developed to specifically comply with U.S. restrictions for exports of AI chips to China. After the ban was lifted, Nvidia expected to sell hundreds of thousands more H20 chips in the Chinese market. But the easing of the ban has raised eyebrows on Capitol Hill. On Monday, a group of top Democratic senators, including Minority Leader Sen. Chuck Schumer, wrote to Commerce Secretary Howard Lutnick to express their 'grave concerns". While chips like the H20 have differing capabilities than the most advanced chips such as Nvidia's H100, 'they give (China) capabilities that its domestically-developed chipsets cannot,' the senators wrote. Shortly after the ban was lifted, Rep. John Moolenaar, R.-Michigan, who chairs the House Select Committee on China, objected. 'The Commerce Department made the right call in banning the H20. Now it must hold the line,' Moolenaar wrote in a letter to Lutnick. 'We can't let the CCP use American chips to train AI models that will power its military, censor its people, and undercut American innovation," Moolenaar wrote, referring to the Chinese Communist Party by its acronym.

Trump announces 90-day negotiating period with Mexico as 25% tariff rates stay in place
Trump announces 90-day negotiating period with Mexico as 25% tariff rates stay in place

San Francisco Chronicle​

time10 minutes ago

  • San Francisco Chronicle​

Trump announces 90-day negotiating period with Mexico as 25% tariff rates stay in place

WASHINGTON (AP) — The United States will enter a 90-day negotiating period with Mexico over trade as 25% tariff rates stay in place, part of the rush of trade activity Thursday before President Donald Trump plans to impose a broad set of global import taxes starting Friday. Trump posted on his Truth Social platform that his phone conversation with Mexican leader Claudia Sheinbaum was 'very successful in that, more and more, we are getting to know and understand each other.' The Republican president had threatened tariffs of 30% on goods from Mexico in a July letter, something that Sheinbaum said Mexico gets to stave off for the next three months. 'We avoided the tariff increase announced for tomorrow and we got 90 days to build a long-term agreement through dialogue,' Sheinbaum wrote on X. The leaders' morning call came at a moment of pressure and uncertainty for the world economy. Nations are scrambling to finalize the outlines of a trade framework with Trump in order to avoid him simply imposing higher tariff rates that could upend economies and governments. Trump reached a deal with South Korea on Wednesday, and earlier with the European Union, Japan, Indonesia and the Philippines. His commerce secretary, Howard Lutnick, said on Fox News' 'Hannity' that there were agreements with Cambodia and Thailand after they had agreed to a ceasefire to their border conflict. Among those uncertain about their trade status were wealthy Switzerland and Norway. But even the public announcement of a deal can offer scant reassurance for an American trading partner. EU officials are waiting to complete a crucial document outlining how the framework to tax imported autos and other goods from the 27-member state bloc would operate. Trump had announced a deal Sunday while he was in Scotland. 'The U.S. has made these commitments. Now it's up to the U.S. to implement them. The ball is in their court," EU commission spokesman Olof Gill said. The document would not be legally binding. Trump said as part of the agreement with Mexico that goods imported into the U.S. would continue to face a 25% tariff that he has ostensibly linked to fentanyl trafficking. He said autos would face a 25% tariff, while copper, aluminum and steel would be taxed at 50% during the negotiating period. He said Mexico would end its 'Non Tariff Trade Barriers,' but he didn't provide specifics. But Trump appeared to have soured on that deal, which is up for renegotiation next year. One of his first significant moves as president was to tariff goods from both Mexico and Canada earlier this year. U.S. Census Bureau figures show that the U.S. ran a $171.5 billion trade imbalance with Mexico last year. That means the U.S. bought more goods from Mexico than it sold to the country. The imbalance with Mexico has grown in the aftermath of the USMCA as it was only $63.3 billion in 2016, the year before Trump started his first term in office.

Tokyo Central supermarket opens in Irvine
Tokyo Central supermarket opens in Irvine

Los Angeles Times

time10 minutes ago

  • Los Angeles Times

Tokyo Central supermarket opens in Irvine

On Monday afternoon at the newly opened Tokyo Central at Heritage Plaza shopping center in Irvine, grab and go sushi was wiped out by 2:30 p.m. 'Today was even busier than Saturday,' said an employee who was restocking the hot buffet bar. The Japanese specialty store celebrated its grand opening Saturday, July 26, marked with a ribbon-cutting ceremony, a Taiko drum performance and free $10 gift cards to the first 100 customers. It was estimated that nearly 10,000 people visited over the opening weekend, flocking to the store for Japanese snacks, skincare items, specialty ingredients, household goods and prepared foods such as the highly coveted sushi. Tokyo Central was established in 1965 and has the distinction of being among the first international Japan-based retailers in the U.S. market. In Orange County, Tokyo Central already had locations in Costa Mesa and Yorba Linda, with the Irvine store bringing the total number of U.S. locations to 14. Previously known as Marukai, the company was acquired by Pan Pacific Retail Management, the parent company of Don Quijote or Donki, in 2013. 'Since then, we have gradually been transitioning the Marukai brand to Tokyo Central as part of a strategic rebranding initiative,' Koichi Toyo, president at Marukai Corp. said through a translator. 'This shift reflects our commitment to offering a comprehensive Japanese shopping experience under one unified brand.' While the excitement surrounding the new location's opening is apparent, the competition in Irvine is too. The city is already home to four major Asian supermarkets; 99 Ranch Market, Korean grocer H Mart, Japanese chain Mitsuwa Marketplace and Zion Market. The opening of Tokyo Central also comes on the heels of the recent announcement that T&T Supermarket, Canada's largest Asian grocery chain, will open its first U.S. location in Irvine. Toyo said the company chose Irvine for its third O.C. location based on the city's substantial Asian population. 'There is a lot of diversity in Orange County, but according to the census, Irvine is one of the top five cities with the largest Asian population,' said Toyo. 'There are a lot of younger generations who are now raising their families here and that is a big reason why we chose Irvine.' The 2023 U.S. Census Bureau reported 44% of the population in the city of Irvine identifying as Asian. Although the city has many choices when it comes to specialty markets, Toyo said Tokyo Central's focus on quality Japanese products sets the brand apart from the rest. 'Of course there are many Asian grocery stores, however we focus on Japanese groceries and we try to offer the most imported goods from Japan and we also provide a hot buffet, sushi and bentos,' Toyo said. In addition to the prepared food offerings, Tokyo Central in Irvine features a stand alone sushi restaurant next door. Waka Sakura, also owned by Pan Pacific International, specializes in Edomae-style sushi, served via conveyor belt. Not to be confused with revolving sushi, which carts the same sushi around the restaurant, the dishes at Waka Sakura are made fresh to order and served over expertly prepared sushi rice seasoned with red vinegar. 'It has a slightly brown color, so a lot of people confuse it for brown rice,' a server said on a recent visit. 'It is going to be a hint sweeter than your typical white rice.' The menu features quality fish and authentic wasabi and curated assortments like a 'scallop lovers' plate, with scallop sashimi, seared scallop, spicy mayo scallop and teriyaki scallop. The 'salmon party' with six different styles of salmon is also popular. Guests can supplement their sushi orders with hot dishes like miso soup with clams and steamed egg, studded with mushrooms and shrimp. The adjacent restaurant adds another element to the experience at Tokyo Central and an alternative to hungry shoppers when grab-and-go sushi sells out. Overall, Toyo said the company hopes to continue increasing Tokyo Central's offerings. 'Moving forward, we will continue to enhance the Tokyo Central brand, aiming to serve as a one-stop destination for Japanese culture, cuisine and lifestyle while actively contributing to the local community,' said Toyo. Tokyo Central and Waka Sakura are located at 14120 Culver Drive in Irvine. Tokyo Central is open from 8 a.m. to 10 p.m. daily, while Waka Sakura is open from 11 a.m. to 10 p.m. daily.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store