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Remark Holdings Announces Fiscal Year 2023 Financial Results

Retrieved on:

Monday, April 15, 2024

Tao, Sale, Ecosystem, OTCQX, AIK, AI, Insurance, Artificial intelligence, Aero, PNY Technologies, Microsoft, Facial recognition, NVIDIA, Marketing, Bank statement, Telephone, COVID-19, Aviation

LAS VEGAS, April 15, 2024 /PRNewswire/ -- Remark Holdings, Inc. (OTCQX: MARK), a diversified global technology company with leading artificial intelligence ("AI") powered computer vision solutions, today announced its financial results for the fiscal year ended December 31, 2023.

Key Points:

LAS VEGAS, April 15, 2024 /PRNewswire/ -- Remark Holdings, Inc. (OTCQX: MARK), a diversified global technology company with leading artificial intelligence ("AI") powered computer vision solutions, today announced its financial results for the fiscal year ended December 31, 2023.
Revenue for fiscal year 2023 totaled $4.4 million, reflecting a 62% decrease from $11.7 million during fiscal year 2022.
Revenue contributed by Remark's U.S. businesses remained unchanged at $0.3 million during the fiscal year 2023 when compared to the fiscal year 2022.
The company's operating loss of $17.2 million during the fiscal year 2023 reflected a decrease of $4.1 million from an operating loss of $21.3 million during the fiscal year 2023.

Decomposing systemic risk: the roles of contagion and common exposures

Retrieved on:

Tuesday, April 23, 2024

Tao, CIBC, Tax, RWA, Risk, European Systemic Risk Board, Research Papers in Economics, Contagion, RT, The Big Six, NBC, International, Shock, Observation, Bank of Canada, HTC, European Economic Association, The Washington Post, Great, JPMorgan Chase, Paper, GM, Environment, Political economy, Journal of Financial Economics, COVID-19, Perception, BNS, Website, Silicon, IAT, Cifuentes, Probability, Balance sheet, RAN, Medical classification, Algorithm, Information technology, Quarterly Journal of Economics, LN, Nature, European Journal, Royal Bank of Canada, Technical report, Journal of Political Economy, Equitable Bank, Bankruptcy, RAI, PDF, Private, ECB, Policy, CHS, Supercapacitor, Social science, Journal of Financial Stability, Intelligence (journal), Elsevier, Home, Cambridge University Press, Journal, Springer Science+Business Media, Research, Classification, Regulation, News, EQB, Credit, Literature, AIK, European Central Bank, COVID, SVAR, Section 5, Management science, DRA, M4, VL, National bank, Government, ISSN, BMO, Panel, International Financial Reporting Standards, BIS, FIS, Basel III, Commerce, Scotiabank, C32, Econometric Society, Interbank, Fraud, Section 4, Bank, Schedule, VAR, Section 3, The Journal of Finance, RBC, Volcanic explosivity index, Fire, Wassily Leontief, Financial economics, Metric, Section 2, L14, Central bank, Superintendent, Bank of Montreal, Kronecker, BOC, Lithium, BCBS, Sale, Macroeconomic Dynamics, Christophe, CWB, LBC, NHA, Imperial Bank, Private equity, Quarterly Journal, National Bank of Canada, C51, Canadian Western Bank, Currency crisis, JEL classification codes, Victor Drai, L.1, MFC, Silicon Valley Bank, EB, Laurentian Bank of Canada, Federal, RA1, Series, W0, FEVD, Journal of Econometrics, Aggregate, University, FRB, MB, Financial institution, Element, Health, Book, Angels & Airwaves, Common, OSFI, GFC, Reproduction, K L, Systematic, Housing, G21, Home Capital Group, Communications satellite

Abstract

Key Points:

Abstract
We evaluate the effects of contagion and common exposure on banks? capital through
a regression design inspired by the structural VAR literature and derived from the balance
sheet identity.
Contagion can occur through direct exposures, fire sales, and market-based
sentiment, while common exposures result from portfolio overlaps.
First, we document that contagion varies in time, with the highest levels
around the Great Financial Crisis and lowest levels during the pandemic.
Our new framework complements
traditional stress-tests focused on single institutions by providing a holistic view of systemic risk.
While existing literature presents various contagion narratives, empirical findings on
distress propagation - a precursor to defaults - remain scarce.
We decompose systemic risk into three elements: contagion, common exposures, and idiosyncratic risk, all derived from banks? balance sheet identities.
The contagion factor encompasses both sentiment- and contractual-based elements, common exposures consider systemic
aspects, while idiosyncratic risk encapsulates unique bank-specific risk sources.
Our empirical analysis of the Canadian banking system reveals the dynamic nature of contagion, with elevated levels observed during the Global Financial Crisis.
In conclusion, our model offers a comprehensive lens for policy intervention analysis and
scenario evaluations on contagion and systemic risk in banking.
This
notion of systemic risk implies two key components: first, systematic risks (e.g., risks related
to common exposures) and second, contagion (i.e., an initially idiosyncratic problem becoming
more widespread throughout the financial system) (see Caruana, 2010).
In this paper, we decompose systemic risk into three components: contagion, common exposures, and idiosyncratic risk.
First, we include contagion in three forms: sentiment-based contagion, contractual-based
contagion, and price-mediated contagion.
In this context,
portfolio overlaps create common exposures, implying that bigger overlaps make systematic
shocks more systemic.
With the COVID-19 pandemic starting
in 2020, contagion drops to all time lows, potentially related to strong fiscal and monetary
supports.
That is, our
structural model provides a framework for analyzing the impact of policy interventions and
scenarios on different levels of contagion and systemic risk in the banking system.
This provides a complementary approach to
seminal papers that took a structural approach to contagion, such as DebtRank Battiston et al.
More generally, the literature on networks and systemic risk started with Allen and Gale
(2001) and Eisenberg and Noe (2001).
The matrix is structured as follows:
1
In our model, we do not distinguish between interbank liabilities and other types of liabilities.
In other words, we can and aim to estimate different degrees
of contagion per asset class, i.e., potentially distinct parameters ?Ga .
For that, we build three major
metrics to check: average contagion, average common exposure, and average idiosyncratic risk.
N i j
et ,
Further, we define the (N ?K) common exposure matrix as Commt = [A

(20)

et ]diag (?C
?L

such that average common exposure reads,
average common exposure =

1 XX
Commik,t .
N i j
(22)

20

? c ),

The three metrics?average contagion, average common exposure, and average idiosyncratic risk?provide a comprehensive framework for understanding banking dynamics.
Figure 4 depicts the average level of risks per systemic risk channel: contagion risk, common exposure, and idiosyncratic risk.
Figure 4: Average levels of contagion (Equation (20)), common exposure (Equation (21)), and idiosyncratic risk
(Equation (22)).
The market-based contagion is the contagion due to
investors? sentiment, and the network is an estimate FEVD on volatility data.
For most of
the sample, we find that contagion had a bigger impact on the variance than common exposures.

Remark AI Launches its Large Multimodal Model (LMM) AI-Powered Aviation Safety Platform (ASP)

Retrieved on:

Wednesday, March 27, 2024

Tao, Microsoft, Azure, LMM, Partnership, Artificial intelligence, Boeing, Transport, AI, LAS, ASP, Marketing, Accident, OTCQX, Safety, TACS, Collection, AIK, LIDAR, Aero, Weather

LAS VEGAS, March 27, 2024 /PRNewswire/ -- Remark Holdings, Inc. (OTCQX: MARK), a diversified global technology company with leading artificial intelligence ("AI") powered computer vision solutions, today announced the release of its Large Multimodal Model (LMM) AI-Powered Aviation Safety Platform (ASP). Remark AI developed the ASP to safely reduce inspection times associated with aircraft engine maintenance as well as provide anti-collision tools for aircraft towing and other functionalities, all while improving the collection and reporting of essential performance data in a multi-modal format.

Key Points:

Top ten global airline has adopted and implemented the Aviation Safety Platform after eighteen months of rigorous testing.
Recent Sales and Marketing distribution agreements with Microsoft Azure help speed deployment and adoption among Microsoft's global aviation clients so that Remark AI's Aviation Safety Platform (ASP) can reduce potential accidents and incidents from happening.
LAS VEGAS, March 27, 2024 /PRNewswire/ -- Remark Holdings, Inc. (OTCQX: MARK), a diversified global technology company with leading artificial intelligence ("AI") powered computer vision solutions, today announced the release of its Large Multimodal Model (LMM) AI-Powered Aviation Safety Platform (ASP).
"Having first launched Remark AI's Railway and now Aviation Safety Platforms, it speaks to the strength of the multi-modal AI platform.

ASM Global Secures Major Naming Rights Deal for Sweden’s National Soccer Stadium to Be Known as Strawberry Arena

Retrieved on:

Monday, January 15, 2024

ASM Global today announced a new naming rights partnership with Strawberry Hotel Group beginning in July which will rename the former Friends Arena in Stockholm – a mainstay of major live entertainment experiences – to Strawberry Arena.

Key Points:

ASM Global today announced a new naming rights partnership with Strawberry Hotel Group beginning in July which will rename the former Friends Arena in Stockholm – a mainstay of major live entertainment experiences – to Strawberry Arena.
Venue operator ASM Global and new naming rights partner Strawberry – which has over 240 hotels in the region – plan to increase the already market-leading live entertainment experiences to guests, fans, members, customers and artists alike.
Petter Stordalen, owner, and founder of Strawberry, said, "The new name, Strawberry Arena, symbolizes experience and diversity, setting the arena as a place for energy, courage and enthusiasm.
"In July, the arena will change its name to Strawberry Arena, and this is a major milestone for our group and our history in Sweden.

Invirsa Completes Enrollment of Phase 1/2a Dry Eye Study

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Monday, May 15, 2023

Optical, Health, Clinical Trials, Telecanthus, Eye, Clinical trial, American Academy, American Academy of Ophthalmology, Organization, AIK, Patient, Safety, Pharmaceutical industry, Vaccine, Ophthalmology

Subjects had moderate dry eye and dosing was well tolerated in all groups.

Key Points:

Subjects had moderate dry eye and dosing was well tolerated in all groups.
Dr. Robert Shalwitz, CEO of Invirsa commented on the successful enrollment of the trial stating "Coupled with the strong safety and tolerability profile, the Phase 1 portion of the study hit sufficient milestones in reducing both signs and symptoms of dry eye in order to proceed to the Phase 2 portion of the study.
The completion of enrollment for the Phase 2 dry eye subjects is exciting for INV-102 as a completely novel approach to treating the surface of the eye."
The Phase 2 AIK study is scheduled to begin later in Q2 of 2023 and will enroll approximately 100 subjects.

LightAir Health+ provides clean and virus-free air at AIK Football

Retrieved on:

Thursday, October 14, 2021

"Through LightAir Health+, we now have a solution with proven technology, which minimizes airborne viruses and filters out harmful particles.

Key Points:

"Through LightAir Health+, we now have a solution with proven technology, which minimizes airborne viruses and filters out harmful particles.
LightAir Health + is an innovative Swedish solution for air purification, which consists of two complementary technologies.
"Cooperation with an elite sports team such as AIK Football means a slightly different but challenging air quality environment.
The solution recently installed at AIK Football is offered in the Nordic region primarily on a subscription basis, where clean air is provided as a service including installation and ongoing maintenance.