Joe Biden’s pardon for Hunter defies historical comparison
NoneGM to retreat from robotaxis and stop funding its Cruise autonomous vehicle unit
ADDISON, Texas, Dec. 05, 2024 (GLOBE NEWSWIRE) -- CECO Environmental Corp. (Nasdaq: CECO) (together with its consolidated subsidiaries and affiliates, “CECO”), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment and industrial equipment, announced today that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR”), applicable to CECO’s tender offer for Profire Energy, Inc. (Nasdaq: PFIE) (“PFIE”) expired at 11:59 p.m., Eastern Time, on November 15, 2024. The expiration of the HSR waiting period satisfies one of the conditions to consummate the tender offer. Other conditions remain to be satisfied, including, among others, a minimum tender of shares of common stock of PFIE representing a majority of the total number of outstanding shares of common stock of PFIE. Unless the tender offer is extended, the offer and withdrawal rights will expire at one minute after 11:59 p.m., Eastern Time, on December 31, 2024. ABOUT CECO ENVIRONMENTAL CECO Environmental is a leading environmentally focused, diversified industrial company, serving a broad landscape of industrial air, industrial water, and energy transition markets across the globe through its key business segments: Engineered Systems and Industrial Process Solutions. Providing innovative technology and application expertise, CECO helps companies grow their business with safe, clean, and more efficient solutions that help protect people, the environment and industrial equipment. In regions around the world, CECO works to improve air quality, optimize the energy value chain, and provide custom solutions for applications including power generation, petrochemical processing, general industrial, refining, midstream oil and gas, electric vehicle production, polysilicon fabrication, battery recycling, beverage can, and water/wastewater treatment along with a wide range of other applications. CECO is listed on Nasdaq under the ticker symbol “CECO.” Incorporated in 1966, CECO’s global headquarters is in Addison, Texas. For more information, please visit www.cecoenviro.com . SAFE HARBOR STATEMENT Certain statements in this communication are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, which are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. Any statements contained in this communication, other than statements of historical fact, including statements about management’s beliefs and expectations, are forward-looking statements and should be evaluated as such. These statements are made on the basis of management’s views and assumptions regarding future events and business performance. We use words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “will,” “plan,” “should” and similar expressions to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Potential risks and uncertainties, among others, that could cause actual results to differ materially are discussed under “Item 1A. Risk Factors” of CECO’s Quarterly Reports on Form 10-Q and in CECO’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and include, but are not limited to: Many of these risks are beyond management’s ability to control or predict. Should one or more of these risks or uncertainties materialize, or should any related assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated. Investors are cautioned not to place undue reliance on such forward-looking statements as they speak only to CECO’s views as of the date the statement is made. Furthermore, the forward-looking statements speak only as of the date they are made. Except as required under the federal securities laws or the rules and regulations of the Securities and Exchange Commission (the “SEC”), CECO undertakes no obligation to update or review any forward-looking statements, whether as a result of new information, future events or otherwise. Important Additional Information Will be Filed with the SEC This press release is neither an offer to purchase nor a solicitation of an offer to sell common stock of PFIE or any other securities. This communication is for informational purposes only. The tender offer transaction commenced by a subsidiary of CECO is being made pursuant to a tender offer statement on Schedule TO (including the Offer to Purchase, a related Letter of Transmittal and other offer materials) filed by such affiliates of CECO with the SEC. In addition, PFIE will file a solicitation/recommendation statement on Schedule 14D-9 with the SEC related to the tender offer. The offer to purchase shares of PFIE’ common stock is only being made pursuant to the Offer to Purchase, the Letter of Transmittal and related offer materials filed as a part of the tender offer statement on Schedule TO, in each case as amended from time to time. THE TENDER OFFER MATERIALS (INCLUDING THE OFFER TO PURCHASE, THE RELATED LETTER OF TRANSMITTAL AND OTHER MATERIALS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 CONTAIN IMPORTANT INFORMATION. PRIOR TO MAKING ANY DECISION REGARDING THE TENDER OFFER, PFIE STOCKHOLDERS ARE STRONGLY ADVISED TO CAREFULLY READ THESE DOCUMENTS, AS FILED AND AS THEY MAY BE AMENDED FROM TIME TO TIME, WHEN THEY BECOME AVAILABLE. PFIE stockholders will be able to obtain the tender offer statement on Schedule TO (including the Offer to Purchase, a related Letter of Transmittal and other offer materials) and the related solicitation/recommendation statement on Schedule 14D-9 at no charge on the SEC’s website at www.sec.gov . In addition, the tender offer statement on Schedule TO (including the Offer to Purchase, a related Letter of Transmittal and other offer materials) and the related solicitation/recommendation statement on Schedule 14D-9 may be obtained free of charge from D.F. King & Co., Inc. 48 Wall Street, 22nd Floor New York, New York 10005, Telephone Number (866) 342-4881. Company Contact: Peter Johansson Chief Financial and Strategy Officer 888-990-6670 Investor Relations Contact: Steven Hooser and Jean Marie Young Three Part Advisors 214-872-2710 Investor.Relations@OneCECO.com
Biden's broken promise on pardoning his son Hunter is raising new questions about his legacy WASHINGTON (AP) — President Joe Biden’s decision to go back on his word and pardon his son Hunter wasn't all that surprising to those who are familiar with the president's devotion to his family. But by choosing to put his family first, the 82-year-old president has raised new questions about his legacy. Biden has held himself up as placing his respect for the American judicial system and rule of law over his own personal concerns. It was part of an effort to draw a deliberate contrast with Republican Donald Trump. Now, both his broken promise and his act of clemency are a political lightning rod. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Success! An email has been sent to with a link to confirm list signup. Error! There was an error processing your request. Get the latest need-to-know information delivered to your inbox as it happens. Our flagship newsletter. Get our front page stories each morning as well as the latest updates each afternoon during the week + more in-depth weekend editions on Saturdays & Sundays.In a high-intensity Semi-Final 2 of the US Premier League (USPL) Season 3, the New York Cowboys displayed a commanding all-around performance, securing a resounding 47-run victory over the Carolina Eagles. This emphatic win catapults the Cowboys into the high-stakes Eliminator Round, setting the stage for a tantalizing rematch with the New Jersey Titans. Cowboys Set a Challenging Target Opting to bat first after winning the toss, the New York Cowboys set a competitive target of 148 runs. Despite losing all 10 wickets in 19.5 overs, the Cowboys’ innings was anchored by a stellar performance from Mukhtar Ahmed. Ahmed’s composed 68 runs off 50 balls, featuring deft stroke play and calculated aggression, laid the foundation for the Cowboys’ total. His innings came to an end when Jake Ball claimed his wicket, with Rajdeep Darbar completing the catch. Adding to the scoreboard momentum was Dilpreet Bajwa, who smashed a quickfire 35 off just 17 deliveries. His spirited knock included several boundaries and ensured the Cowboys had a respectable total to defend. Bajwa was eventually dismissed by Raj Nannan, with Gajanand Singh taking a sharp catch. The Carolina Eagles’ bowling attack put up a valiant effort to contain the Cowboys. Sunny Patel and Yasir Mohammad emerged as the most successful bowlers, each claiming two wickets. Jake Ball, Raj Nannan, Jasdeep Singh, and Derone Davis contributed with a wicket apiece, displaying discipline and strategic execution. Eagles Stumble in the Chase Chasing 149 for victory, the Carolina Eagles faltered early and never recovered. A disastrous start in the first over saw them lose two crucial wickets—Shayan Jahangir and Raunaq Sharma—while failing to score a single run, as the Cowboys’ bowlers struck with surgical precision. Sunny Patel tried to steady the innings with a gritty 22 off 23 balls, and Roshon Primus chipped in with 21 off 18 balls. However, the Eagles’ batting lineup crumbled under the relentless pressure of the Cowboys’ disciplined bowling. The team was bowled out for a mere 101 runs in 17.5 overs, falling well short of the target. Cowboys’ Bowling Dominates The Cowboys’ bowling unit delivered a clinical performance, with Praveen Kumar leading the charge. His fiery spell claimed 3 wickets, dismantling the Eagles’ top order and earning him the Player of the Match award. Usman Shinwari and Jack Jarvis also impressed with two wickets each, exploiting the conditions effectively and maintaining tight lines. Dilpreet Bajwa and Zia Shahzad chipped in with a wicket apiece, rounding off a near-perfect display of teamwork in the field. With their commanding win, the New York Cowboys advance to the Eliminator Round, where they will face the New Jersey Titans. The clash promises to be a riveting rematch, as the Titans look to avenge their Season 2 Finals loss to the Cowboys. For the Cowboys, the victory not only secures their place in the Eliminator but also reinforces their status as a formidable contender for the championship. Meanwhile, the Titans, reeling from their Semi-Final 1 defeat, must regroup and deliver their best performance to keep their title hopes alive. As the USPL Season 3 playoffs heat up, fans can expect another thrilling chapter in the Cowboys-Titans rivalry, with everything to play for and a spot in the grand finale on the line.House parties emerge as new trend for Christmas celebrations
The Trade Desk: Time To Take Profits Here (Rating Downgrade)
Former President Jacob Zuma has claimed that if his political party, uMkhonto weSizwe (MK), were governing South Africa, poverty would no longer exist. Zuma made the remarks on Saturday while addressing hundreds of MK supporters at a rally held at the Vosloorus Stadium. The event was part of a series of celebrations marking the party’s upcoming first anniversary on December 15. Zuma used much of his speech to reflect on what he described as the party’s core mission: reclaiming South Africa for black citizens and addressing the enduring issues of inequality and poverty. “We wanted to take back the country and govern it properly. In fact, we should have been the government because there would have been no poverty right now,” Zuma told the crowd. Zuma also suggested that the MK Party was founded as a vehicle to free black South Africans from systemic suffering and poverty, asserting that the ANC had failed to fully realize these goals. After delivering his one-hour address, Zuma closed his speech with his signature song, much to the delight of his supporters. Meanwhile, the Jacob Zuma Foundation spokesperson, Mzwanele Manyi, clarified Zuma’s ongoing ties to the ANC, despite his recent expulsion from the party. “President Zuma is consulting his comrades within the ANC, his branch, region, and province. At some point, he will decide whether to take the matter to the ANC’s national conference or court,” Manyi said, noting that Zuma must exhaust all internal avenues before pursuing legal action. Earlier this month, Zuma’s appeal against his expulsion was dismissed by the ANC’s national disciplinary committee. The party had removed him for bringing the organization into disrepute by forming and actively campaigning for another political party. Some supporters at the rally expressed confidence in the MK Party’s future, with a few boldly predicting that it could one day surpass the ANC in influence. As tensions between Zuma and the ANC persist, the MK Party continues to position itself as a new political force aiming to challenge the status quo.Virajini Thennakoon’s novel ‘Camellia’ has won the Golden Book Award Sri Lanka 2024. Since it was published last year, there have been many discussions and reviews claiming that this novel is a work of magical realism. But labeling it as a magical realism work won’t do justification for this amazing novel about Sri Lanka’s underrepresented community who are earning foreign exchange for a long time. This review clarifies the work explaining how the aspects of magical realism are covered in the novel. As we know, the term ‘Magical Realism’ first used by the German critic Franz Roh to explain paintings emerged in 1920s Germany. However, to highlight how ordinary objects may appear magical, amazing, and odd when you pause and gaze at them, Roh coined the word “magischer realismus.” Later, this genre was popular among Latin American writers who tried to write against colonialism. They found a new voice in magical realism to criticise colonial oppressors. Argentine author Jorge Luis Borges identified as the first Latin American author who used magical realism. But it was Gabriel Garcia Marquez who made it popular around the world with his famous novel ‘One Hundred Years in Solitude’ which won the Nobel Prize for him. Although Virajini’s novel has many layers of socio-political issues, gender issues and many themes, this review is to identify the aspects of magical realism in the novel. Since the term magical realism came to light there were different opinions about the aspects of magical realism. But there were few common aspects among all the critics who described the aspects of magical realism. Familiar setting The first aspect is ‘Realistic Setting.’ Every magical realism novel takes place in a setting in this world that’s familiar to the reader. If we closely look at the ‘Camellia’, the setting is nothing new to the Sri Lankan reader. The setting takes place in a familiar tea estate in the era of the British Government. The characters, environment, equipment, political and social events that occurred during the time of the novel were related in history, familiar to the reader. The second aspect is ‘Magical Elements.’ From speaking objects to dead characters walking, telepathy and many supernatural powers, magical realism stories have magical elements that do not happen in the real world. But in the stories those elements are represented as normal. When reading ‘Camellia’ the reader would find many magical elements as mentioned above. For instance, Ambhiga, a character in the novel, who hangs her tea plucking casket on her back for her lifetime, would not occur in the real world. But the idea of using these magical elements was to showcase the weight on her people from the beginning would carry on for generations. If the author wanted to explain this weight it would take many pages to describe the whole thing. Magical elements can work as a metaphor. When Ambiga died, people couldn’t remove her cane basket because it was tightly bound with her like a new organ. Also, when Appan died, it was impossible to move his dead body from the store room. It was there for many days without rotting. Instead the body became more beautiful and healthier. ‘’During this time, particular changes began to happen in the Appan’s body. He was a thin, hunched back, black man, but after he died, day-to-day he left those physical features like he was resurrected with a new soul.” – Page 131 After the betrayal of Henry, Camellia didn’t change her wedding dress for six months. “After spending six months in the upstairs of Seram Bungalow, one evening when Camellia appeared in front of the school with a torn veil and holding up the dirty wedding dress, the children ran for the hills scared by her appearance.” – page 176 Magical elements artfully weave into the fabrics of mundane life in above sentences to normalise the magic. The author didn’t try to explain these incidents with full information but penned it down like a very normal incident. This can be explained as another aspect of magical realism. To normalise the magic as much as possible and reinforce that it as a part of everyday life, authors of magical realism deliberately leave the magic in their works of literature unexplained. Limited information is the third aspect of magical realism. In the novel, the author used limited information for several events that happened in ‘Moon Melt’ estate. How Anita went to sleep for seven days to Camellia’s six months in the same dress. Subtle criticism The next aspect is ‘Social or Political Critique. Magical realism is frequently used by writers to subtly criticise society, particularly politics and the ruling elite. In regions of the world, such as Latin America, that were exploited and economically oppressed by Western nations, the genre received popularity. Authors of magic realism used the genre to criticise and express their distaste for American imperialism. While reading ‘Camellia’ readers would find the critique against colonial oppressors and their local agents, social dilemma of tea plantation workers, the place of a woman in feudal society. And about relationships too. It is obvious with these examples that Virajini’s novel ‘Camellia’ is a work of magical realism. Apart from that it has socio-political themes that need to be discussed among the readership. While reading it I found one similarity between Marquez novels, ‘One hundred Years of Solitude’ and ‘Camellia’. Both novels have a hypothetical place, Marquez created ‘Macondo’ back in the 60s and Virajini created ‘Moon Melt’ in 2023. It is obvious that Virajini’s novel would pave a new way for the next generations to follow if they want to use magical realism. While trying to explain how this novel could be claimed as a magical realism work, there is not enough space to describe the language used in the book. This article would not be enough to discuss it. However, ‘Camellia’ will be an all-time novel.S&P/TSX composite down nearly 250 points, U.S. stock markets also fall
VenHub Global, Inc. is an emerging AI and robotics technology company that has developed a 24/7 fully-autonomous retail Smart Store, headquartered in Pasadena, CA, and has amassed a robust pre-order backlog of 1,000+ stores with potential revenue of more than $300 million 1 VenHub's innovative solution offers low building and operating costs and advanced security features, empowering store owners to deliver a seamless customer experience VenHub's proprietary robotic arms technology and cutting-edge vision system ensures precise product delivery, while its AI-driven platform is expected to optimize store operations VenHub intends to build strategic partnerships, diversify product offerings, and advance its technology for future growth The proposed business combination with Target Global Acquisition I Corp. values VenHub at a pro forma enterprise value of $715 million 1 and is targeted to close in Q2 2025 PASADENA, Calif., Dec. 02, 2024 (GLOBE NEWSWIRE) -- via IBN – VenHub, a disruptive AI and robotics company ("VenHub" or the "Company"), and Target Global Acquisition I Corp. TGAA ("TGAA"), a NASDAQ-listed special purpose acquisition company, today announced they have entered into a definitive business combination agreement, dated as of December 2, 2024 (the "Business Combination Agreement"). The proposed business combination (the "Proposed Business Combination") is expected to be completed (the "Closing") in the second quarter of 2025, subject to customary closing conditions, including regulatory and shareholder approvals. The combined company will operate as VenHub Global Holdings, Inc. following the Closing and is expected to list on Nasdaq under the ticker symbol "VHUB". As one of the leading providers of a 24/7 autonomous smart store, VenHub has introduced and developed a solution with the potential to transform how consumers interact with technology in retail environments. Powered by proprietary software and unique robotics arms technology, VenHub's product offering can provide a seamless customer experience. Manufactured by a leader in the global robotics industry, the innovative robotic arms technology can differentiate VenHub from traditional retail solutions and well-positions the Company in the automated retail space. Additionally, VenHub's cutting edge vision system adds precision and reliability to its product offering, and the efficiency and security of the Smart Stores are enabled by VenHub's intellectual property portfolio. Founded in 2023, VenHub is addressing challenges facing traditional retail stores, including inefficient inventory management, limited hours, high labor costs, and security concerns. The Smart Stores are designed to utilize data-driven inventory management, a self-service delivery system, and advanced security protection, all of which reduce labor costs and collectively enhance sales and growth potential. Through these potential competitive advantages, VenHub has secured over 1,000 customer pre-orders across 48 states, with potential revenue of more than $300 million 1 in pre-order value. This pre-order book demonstrates market confidence in VenHub's smart store technology. VenHub's growth strategy focuses on geographic and store format expansion to meet the growing demand for autonomous retail solutions, as well as product diversification to enhance VenHub's market presence and operational efficiency. The Company's CapEx-light business model has the potential to create value for stakeholders, and its diversified business model with potential for recurring revenue can allow VenHub to achieve its expansion plan. Key Investment Highlights Disruptive AI & Robotics Technology – innovative product with potential to revolutionize consumer behavior. Sizeable Total Addressable Market – over $2 trillion 1 end-market across convenience stores, traditional retail, and gas stations, which is global in nature. Large Pre-order Book with Deliveries Beginning this Year – over $300M 2 in potential revenue from customer pre-orders with production beginning in Q4 2024 and targeted delivery of the first Smart Stores in Q1 2025. Attractive Financial Profile – unit level economics driven by immediate positive gross profit and EBITDA margins. Leadership Expertise – accomplished management team with strong automation, logistics, supply chain, robotics, and retail experience. Management Commentary Shahan Ohanessian, Chief Executive Officer of VenHub, commented : "This is day one for VenHub on a larger stage," Shahan Ohanessian, CEO of VenHub, remarked. "We're at the starting line of what I believe will be a remarkable journey, turning our vision into reality and expanding our reach on a global scale. We're not just joining the market; we're aiming to pioneer a new frontier in smart retail that enhances how businesses and consumers connect." Mike Minnick, Chief Executive Officer of TGAA, added : "We are excited to partner with Shahan and the VenHub team. VenHub's efficient, capital-light business model, combined with strong near-term projected positive cash flow generation, positions the Company for sustainable growth. This approach enables strategic expansion into multiple geographic markets while leveraging internally generated cash flow and maintaining disciplined resource allocation." Proposed Business Combination Overview The Proposed Business Combination implies a pro forma enterprise value of $715 million, which assumes an estimated equity value of $650 million, $26 million in new cash to the balance sheet (assuming 100% redemptions by TGAA public shareholders), and $0.6 million in existing cash. The Proposed Business Combination is expected to provide net cash to VenHub of up to $14 million to support VenHub's continued geographic expansion and product diversification. Cash proceeds raised will consist of TGAA's approximately $20.4 million cash in trust, net of redemptions. The cash in the TGAA trust account is anticipated to support the Company's growth capital needs, including VenHub's production, marketing and sales efforts. It is intended that 100% of existing VenHub stockholders will roll over their equity and, assuming no redemptions and full rollover, own approximately 89% of the pro forma equity of the combined company in connection with the transaction. The Proposed Business Combination has been approved by the boards of directors of both VenHub and TGAA and is expected to close in the second quarter of 2025, subject to shareholder approvals and other customary closing conditions. For a summary of the material terms of the Proposed Business Combination, as well as a supplemental investor presentation, please see the Current Report on Form 8-K filed today by TGAA with the U.S. Securities and Exchange Commission (the "SEC"). Additional information about the Proposed Business Combination will be described in TGAA's proxy statement relating to the Proposed Business Combination, which it will file with the SEC. Advisors Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, is serving as the exclusive financial advisor, capital markets advisor and placement agent to VenHub. Smith Eilers PLLC is serving as legal counsel to VenHub. Orrick, Herrington & Sutcliffe LLP is serving as legal counsel to TGAA. Travers Thorp Alberga is serving as legal counsel to TGAA with respect to Cayman Islands law. About VenHub VenHub Global, Inc., f/k/a Autonomous Solutions, Inc., a Delaware corporation, is reshaping the retail industry with its groundbreaking autonomous and robotic-operated Smart Stores. Leveraging advanced AI and smart inventory management systems, VenHub offers a seamless shopping experience that operates 24/7. This approach not only increases revenue but also significantly reduces operational costs compared to traditional retail setups. VenHub's modular design allows for quick installation and easy customization to meet a wide range of consumer needs. The company operates across three main retail formats: fixed Smart Stores for permanent locations, mobile Smart Stores for flexibility and broader accessibility, and innovative solutions that upgrade existing retail spaces and shopping centers into advanced Smart Shopping environments. With its forward-thinking strategy, VenHub is poised to transform the retail landscape, providing an efficient and accessible shopping experience that anticipates the future of commerce. About Target Global Acquisition I Corp. TGAA Acquisition I Corp. is a blank check company incorporated as a Cayman Island exempted company and formed for the purpose of effecting a merger, share, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. TGAA's units, Class A ordinary shares and warrants trade on the Nasdaq under the ticker symbols "TGAAU," "TGAA," and "TGAAW" respectively. Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. TGAA's and VenHub's actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, TGAA's and VenHub's expectations with respect to future performance and anticipated financial impacts of the Proposed Business Combination, the satisfaction of the closing conditions to the Proposed Business Combination and the timing of the completion of the Proposed Business Combination. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside TGAA's and VenHub's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement, (2) the outcome of any legal proceedings that may be instituted against TGAA and VenHub following the announcement of the Business Combination Agreement and the transactions contemplated therein; (3) the inability to complete the Proposed Business Combination, including due to failure to obtain approval of the shareholders of TGAA or other conditions to closing in the Business Combination Agreement; (4) the occurrence of any event, change or other circumstance that could give rise to the termination of the Business Combination Agreement or could otherwise cause the Proposed Business Combination to fail to close; (5) the amount of redemption requests made by TGAA's shareholders; (6) the inability to obtain or maintain the listing of the post-business combination company's common stock on the Nasdaq Stock Market LLC following the Proposed Business Combination; (7) the risk that the Proposed Business Combination disrupts current plans and operations as a result of the announcement and consummation of the Proposed Business Combination; (8) the ability to recognize the anticipated benefits of the Proposed Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably and retain its key employees; (9) costs related to the Proposed Business Combination; (10) changes in applicable laws or regulations; (11) the possibility that VenHub or the combined company may be adversely affected by other economic, business, and/or competitive factors; and (12) other risks and uncertainties indicated from time to time in the proxy statement relating to the Proposed Business Combination, including those under "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" which will be set forth in a Registration Statement on Form S-4 (the "Registration Statement") to be filed by TGAA and the Company and in TGAA's other filings with the SEC. Some of these risks and uncertainties may be amplified by future events and there may be additional risks that we consider immaterial or which are unknown. It is not possible to predict or identify all such risks. TGAA cautions that the foregoing list of factors is not exclusive. TGAA cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date they are made. TGAA does not undertake or accept any obligation or undertaking to update or revise any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based . Additional Information and Where to Find It This press release relates to a proposed transaction between the Company and TGAA. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act. TGAA and the Company intend to file a registration statement on Form S-4 that will include a proxy statement/prospectus of TGAA. The proxy statement/prospectus will be sent to all TGAA shareholders. TGAA also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of TGAA are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. Investors and security holders will be able to obtain free copies of the registration statement and all other relevant documents filed or that will be filed with the SEC by TGAA through the website maintained by the SEC at www.sec.gov . In addition, the documents filed by TGAA may be obtained free of charge from TGAA's website at https://tgacquisition1.com/ or by written request to TGAA at: Target Global Acquisition I Corp., PO Box 10176, Governor's Square 23, Lime Tree Bay Avenue, Grand Cayman KY1-1102, Cayman Islands. Participants in the Solicitation TGAA and the Company and their respective directors and officers may be deemed to be participants in the solicitation of proxies from TGAA's shareholders in connection with the proposed transaction. Information about TGAA's directors and executive officers and their ownership of TGAA's securities is set forth in TGAA's filings with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus regarding the proposed transaction when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph. No Offer or Solicitation This press release is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any security of TGAA, VenHub or any of their respective affiliates. No such offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom. The contents of this press release have not been reviewed by any regulatory authority in any jurisdiction. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. Investor Relations Contact IR@VenHub.com 888-585-4999 Wire Service Contact : IBN Los Angeles, California www.InvestorBrandNetwork.com 310.299.1717 Office Editor@InvestorBrandNetwork.com 1 Grand View Research, "GVR Report cover Convenience Stores Market Size, Share & Trends Analysis Report By Type (Cigarettes & Tobacco, Foodservice, Packaged Beverages, Center Store, Low Alcoholic Beverages), By Region, And Segment Forecasts, 2022 – 2028", May 2022 2 Based on management estimates. As of September 30, 2024. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Consumers in the United States scoured the internet for online deals as they looked to take advantage of the post-Thanksgiving shopping marathon with Cyber Monday. Even though e-commerce is now part and parcel of many people's regular routines and the holiday shopping season, Cyber Monday — a term coined in 2005 by the National Retail Federation — has become the biggest online shopping day of the year, thanks to the deals and the hype the industry has created to fuel it. Adobe Analytics, which tracks online shopping, expected consumers to spend $13.2 billion Monday — a record, and 6.1% more than last year. That would make it the biggest shopping day for e-commerce for the season — and the year. Online spending was expected to peak between the hours of 8 p.m. and 10 p.m. on Monday night, per Adobe — reaching an estimated $15.7 million spent every minute. For several major retailers, a Cyber Monday sale is a dayslong event that began over the Thanksgiving weekend. An Amazon Prime delivery person lifts packages while making a stop Nov. 28, 2023, in Denver. Amazon kicked off its sales event right after midnight Pacific time on Saturday. Target's two days of discount offers on its website and app began overnight Sunday. Walmart rolled out its Cyber Monday offers for Walmart+ members Sunday afternoon and opened it up to all customers three hours later, at 8 p.m. Eastern time. Consumer spending for Cyber Week — the five major shopping days between Thanksgiving and Cyber Monday — provides a strong indication of how much shoppers are willing to spend for the holidays. Many U.S. consumers continue to experience sticker shock after the period of post-pandemic inflation, which left prices for many goods and services higher than they were three years ago. But retail sales nonetheless remain strong, and the economy kept growing at a healthy pace. At the same time, credit card debt and delinquencies are rising. More shoppers than ever are also on track to use "buy now, pay later" plans this holiday season, which allows them to delay payments on holiday decor, gifts and other items. Many economists also warned that President-elect Donald Trump's plan to impose tariffs next year on foreign goods coming into the United States would lead to higher prices on everything from food to clothing to automobiles. A FedEx delivery person carries a package from a truck Nov. 17, 2022, in Denver. The National Retail Federation expects holiday shoppers to spend more this year both in stores and online than last year. But the pace of spending growth will slow slightly, the trade group said, growing 2.5% to 3.5% — compared to 3.9% in 2023. A clear sense of consumer spending patterns during the holiday season won't emerge until the government releases sales data for the period, but some preliminary data from other sources shows some encouraging signs for retailers. Vivek Pandya, lead analyst at Adobe Digital Insights, noted that discounts from Thanksgiving onward "exceeded expectations" and online spending throughout Cyber Week is on track to cross a record $40 billion mark combined. U.S. shoppers spent $10.8 billion online on Black Friday, a 10.2% increase over last year, according to Adobe Analytics. That's also more than double what consumers spent in 2017, when Black Friday pulled in about $5 billion in online sales. Consumers also spent a record $6.1 billion online on Thanksgiving Day, Adobe said. Meanwhile, software company Salesforce, which also tracks online shopping, estimated that Black Friday online sales totaled $17.5 billion in the U.S. and $74.4 billion globally. Mastercard SpendingPulse, which tracks in-person and online spending, reported that overall Black Friday sales excluding automotive rose 3.4% from a year ago. A United Parcel Service driver sorts deliveries July 15, 2023, on New York's Upper West Side. E-commerce platform Shopify said its merchants raked in a record $5 billion in sales worldwide on Black Friday. At its peak, sales reached $4.6 million per minute — with top categories by volume including clothing, cosmetics and fitness products, according to the Canadian company. Toys, electronics, home goods, self-care and beauty categories were among the key drivers of holiday spending on Thanksgiving and Black Friday, according to Adobe. "Hot products" included Lego sets, espresso machines, fitness trackers, makeup and skin care. Other data showed physical stores saw fewer customers on Black Friday, underscoring how the huge crowds that were once synonymous with the day after Thanksgiving are now more than happy to shop from the comfort of their homes. RetailNext, which measures real-time foot traffic in stores, said its early data showed store traffic on Friday was down 3.2% in the U.S. compared to last year, with the biggest dip happening in the Midwest. Sensormatic Solutions, which also tracks store traffic, said its preliminary analysis showed retail store traffic on Black Friday was down 8.2% compared to 2023. Grant Gustafson, head of retail consulting and analytics at Sensormatic Solutions, noted that in-store traffic was getting spread across multiple days since many retailers offered generous discounts before and after Black Friday. "Some of the extended Black Friday promotions really ended up leading to a little bit of a softer day-of traffic than expected," Gustafson said. In 2024, staying small on purpose seems to be paying off big for small businesses. They're keeping operations small and targeting niche, highly specialized customers. And some business owners find this strategy results in more time, energy, and money to intentionally capitalize on unique, small cap opportunities. The data tells the story of growth in small businesses for the year. According to NEXT , the Small Business Administration (SBA) reports awarding 38,000 SBA 7(a) loans under $150,000: double the amount they awarded in 2020. Here are the related small-business trends paying off in 2024. Commercial real estate agent Ryan Beckenhauer of Market Real Estate in Boulder, Colorado, has noticed that small businesses are growing smaller, and that their office and warehouse spaces are starting to reflect that as they shop for business space. In commercial real estate, many small business owners gravitate toward industrial condos and other flexible spaces. These are small-scale industrial spaces with a 90:10 or 80:20 split of warehouse to office. "More individuals are leveraging skills acquired at larger organizations to venture out on their own," explains Beckenhauer. And he goes on to say that they don't need a large commercial space as they make that leap to start a business. His clients include engineers, consultants, builders and other tradespeople. Beckenhauer's clients like the flexibility of being out of an office and being close to their inventory and workshop space. "The clients want to see and touch the finishes," he says. Small business owners both rent or buy these spaces. But he's seeing his clients opt to own industrial condos to stabilize costs due to rent increases in Boulder. And because these spaces are smaller, it can be easier for new buyers to qualify for financing. Mariana Alvarez, owner of Controller Works , an online bookkeeping and advisory firm, has noticed that small business owners outsource financial support services because they don't want to increase headcount. "Outsourcing gives them the possibility of having access to the knowledge and the skills of a CFO without having to pay for the salary," she says. "They don't have to manage or deal with the workload, employment taxes , and all that comes with it," says Alvarez. Additionally, many small business owners in fields like construction are family-owned, and this makes it easier for business owners to hand off delicate financial work to a trusted person with financial experience. Every small business has recurring tasks that can benefit from some level of artificial intelligence automation . And Alvarez sees a lot of value in using AI for small business bookkeeping. She explains that you can automate the data entry on Quickbooks. "When you create rules, as long as you create the rules correctly, it pretty much does itself," says Alvarez. From there, you can lean on financial experts to help you analyze the data and make more informed decisions. She uses AI as a background resource when guiding her accounting clients. "I believe that we still need the human-to-human interaction that comes with more perspective for financial analysis," she explains. According to the SBA , 77% of consumers feel that human interaction is still required for a positive customer experience. People turn to small businesses every day for a human experience. According to Arvind Rongala, CEO of Edstellar , small business workers can show up for their customers but still use AI for routine tasks like customer queries. "This balance allows companies to scale their operations without losing the personal touch that makes them unique. It's important to remember that AI isn't there to replace the human element—it's there to enhance it," he says. "By really focusing on one very small weakness that Amazon has, I've been able to carve out a successful business by offering something different," says Lou Harvey owner of Tank Retailer , a retailer of commercial water and fuel tanks. "When you read our customer reviews, many of them actually mention me by name because of how much we focus on customer service and go the extra mile." One of Harvey's most successful business strategies this year has been to lean into his small, niche market and offer the kind of customer experience that large retailers like Amazon don't. "Any small weaknesses that Amazon has (however small those weaknesses may be) needs to become a strength of a smaller business focusing on a niche market," says Harvey. Harvey has his company's customer service phone number front and center on the website to help earn customer trust. "I prominently feature our phone number, and a real person always answers the phone (usually it's me)," says Harvey. Lucie Voves, CEO and founder of Church Hill Classics , an online, woman-owned diploma framing company that uses sustainable materials, has noticed an uptick in customers seeking services from a business on a mission. "This year, we've seen a growing inclination for consumers to actively seek out and support small businesses owned by women and minorities," says Voves. When consumers shop small, they choose to make their dollars count. "Customers are fueled by a desire to promote social impact through purchasing power," says Voves. Long gone are the days of online retailers "building it and they will come." In 2024 we've seen more small businesses than ever turn to social commerce to sell directly on social media platforms like Instagram Shopping , Facebook Marketplace , and TikTok . Small business owners are turning toward influencers, social media ads, and organic content to target their customers. Mike Vannelli of Envy Creative creates online ads for businesses, and he has seen his clients succeed on TikTok of late. "I've seen businesses, especially in retail, use TikTok's short-form video format to make their products go viral. Think of it as word-of-mouth marketing on steroids," says Vannelli. He uses the platform's algorithm to push a company's content to the right audiences, and it works because TikTok loves storytelling. "I know small brands that use behind-the-scenes videos, customer testimonials, and even playful challenges that tap into trends to humanize their products and build trust," explains Vannelli. To stand out on TikTok, he says, smaller brands need to embrace authenticity and emotional connection. Show your team, share your journey, and involve your community in content creation. This story was produced by NEXT and reviewed and distributed by Stacker. The business news you need Get the latest local business news delivered FREE to your inbox weekly.
Even blue states are embracing a tougher approach to crimeArsenal's Bukayo Saka celebrates scoring their fifth goal with teammates Jurrien Timber and Martin Odegaard.. LONDON - Resurgent Arsenal romped to a 5-2 victory at capital rivals West Ham United in a Premier League derby on Nov 30, with all seven goals coming in a mind-boggling first half in the evening kickoff at the London Stadium. Gabriel’s trademark ninth-minute header opened the floodgates and Arsenal ran riot, with Leandro Trossard tapping in after 26 minutes before Martin Odegaard’s penalty and Kai Havertz’s cool finish in the space of a minute sent some home fans heading for the exits. Incredibly, West Ham responded almost immediately, with Aaron Wan-Bissaka slotting home before a stunning free kick by Emerson offered hope of an unlikely comeback. But Arsenal were awarded a second penalty of the game in first-half stoppage and this time Bukayo Saka stepped up to dispatch his spot kick past Lukasz Fabianski. By comparison the second half was something of an anti-climax as Arsenal cruised to the win that moved them up to second in the table with 25 points, six behind leaders Liverpool who host struggling champions Manchester City on Dec 1. Arsenal have now scored 13 goals in their last three games as they return to form in spectacular fashion after a slump which had some writing off their title chances. “I was happier with the first 30 minutes rather than the last 15 minutes of the first half that’s for sure,” said Arsenal manager Mikel Arteta, whose side beat Sporting 5-1 away in the Champions League this week. “We started incredibly well, so positive, so much energy and a lot of quality. Immediately after we scored the fourth we conceded a sloppy one and an unbelievable free kick and then it was game on. Thank goodness we scored the fifth and we were able to manage the game in the second half.” Cruise control For the second season running, Arsenal went to West Ham and dished out a humiliation. In 2023, they won 6-0 and the way they began on Nov 30 they looked like surpassing that. As it was, all the fireworks arrived before halftime and they ended in cruise control with West Ham’s Danny Ings even going close to salvaging some more home pride late on. It was only the fourth time in a Premier League match that seven goals had been scored in the first period, the last occasion being Reading against Manchester United in 2012. While Arsenal manager Mikel Arteta was purring at his side’s display, West Ham manager Julen Lopetegui, who was forced to watch from the stands because of a touchline ban, is back under pressure after having appeared to turn the corner with his side’s win at Newcastle United on Nov 25. West Ham are 14th in the table and have now lost four times at home in the league this season under the Spaniard, who replaced David Moyes in May. Lopetegui would surely have told his players about the threat from Gabriel at set pieces but they clearly were not heeding when he met Saka’s corner with a deft header. Arsenal oozed confidence early on and their second goal was a masterclass as Saka and Odegaard combined to tee up Trossard for a close-range finish. A slaloming Saka was then taken down in the area and Odegaard made it 3-0 before a sublime pass from Trossard sent Havertz clear to beat Fabianski with a clinical finish. The game was as good as over and, despite a brief retaliation, West Ham were never really in it. When Fabianski came out to punch a corner but connected with Gabriel instead, Saka slotted in the penalty to restore order for the visitors. REUTERS Arsenal’s Kai Havertz scores their fourth goal past West Ham United’s Lukasz Fabianski. PHOTO: REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you. Read 3 articles and stand to win rewards Spin the wheel now