PASADENA, Calif., Dec. 02, 2024 (GLOBE NEWSWIRE) — via IBN – VenHub, a disruptive AI and robotics company (“VenHub” or the “Company”), and (NASDAQ: 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 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. : “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.” : “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.” 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. 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. 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. 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. 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 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. 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. 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. IR@VenHub.com 888-585-4999 : IBN Los Angeles, California 310.299.1717 Office 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 Based on management estimates. As of September 30, 2024.OXFORD, Miss. (AP) — Sira Thienou scored 16 points with six rebounds, five assists and four steals and No. 18 Mississippi coasted to an 89-24 win over Alabama State on Saturday. Starr Jacobs and Christeen Iwuala both added 12 points and Kennedy Todd-Williams had 11 for the Rebels (5-2), who had a breather after losing to No. 2 UConn by 13 in the Bahamas. Kaitlyn Bryant had seven points to lead the Hornets (2-5), who shot 19% with 33 turnovers and were outrebounded 43-25. Alabama State was 1 of 8 with 11 turnovers in the first quarter, falling behind 24-4. The Hornets were 2 of 11 with seven giveaways in the second quarter when they were outscored 33-6 to trail 57-10 at the half. The Rebels shot 58% with 28 points off turnovers. They scored the first 16 points of the game and the first 24 points of the second quarter. Ole Miss had the last five points of the third quarter and the first seven of the fourth to get the lead to 82-22. The Hornets went 1 of 10 in the final 10 minutes with 10 turnovers. It was Mississippi's third win against teams from the Southwestern Athletic Conference with one more to play. The Rebels play at NC State on Thursday in the SEC/ACC Challenge. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP women’s college basketball: https://apnews.com/hub/ap-top-25-womens-college-basketball-poll and https://apnews.com/hub/womens-college-basketball
Amber Group's Subsidiary Amber DWM Holding Limited And Nasdaq-Listed Iclick Interactive Asia Group Limited Enter Into A Definitive Merger Agreement
zkMe Network Celebrates Second Anniversary, Announces Strategic Ecosystem Rewards Program for 2025 12-02-2024 11:58 PM CET | Business, Economy, Finances, Banking & Insurance Press release from: Getnews / PR Agency: LianPR Image: https://www.getnews.info/uploads/8c93e174729b63b281265de5934ee77c.jpg zkMe [ https://www.zk.me/ ] Network celebrates its second anniversary with significant ecosystem growth and technological advancement, marking the occasion with the launch of a strategic ecosystem rewards program and plans for a comprehensive tokenomics model in 2025. As a decentralized identity infrastructure powered by zero-knowledge proofs, zkMe provides private and secure identity verification with enhanced data protection. The platform enables users to authorize multi-chain applications with a single verification, serving as an all-in-one identity solution across chains.Through its decentralized node network, zkMe Network ensures transparent verification processes while allowing users to maintain control of their data and earn rewards from credential sharing. As the Web3 industry navigates increasing regulatory requirements, with the EU's MiCA regulations taking effect in 2025, zkMe's zero-knowledge proof technology continues to set the standard for privacy-preserving compliance solutions. The platform's innovative approach has earned recognition from leading investment firms, securing over $6 million in total funding, including a recent $4 million seed round led by Multicoin Capital with participation from OKX Ventures and Robot Ventures. "In the digital age, privacy data may be your most valuable personal asset," states Alex Scheer, Founder and CEO of zkMe. Born in Germany, Alex's vision for data sovereignty emerged from deep reflection on digital privacy. "Every day, we leave digital footprints through transactions, investments, and social interactions in the blockchain ecosystem. While these activities create value, they can also become vulnerabilities that expose our personal information. This profound understanding of digital privacy challenges drove our team to establish zkMe as a global privacy solution," Alex explains. Perhaps what's most striking about zkMe is the team's approach to building. "Think of us as modern digital craftsmen," Alex shares with enthusiasm. "We have the precision of German engineering but move at Web3 speed. While others might focus on crafting fancy narratives, we hands-on build identity infrastructure that deploys advanced identity solutions across 20+ major blockchain networks. Self-sovereign identity, value-generating data sharing, and decentralized privacy are not just goals-they're our foundations." In crypto, you need to be fast AND flawless - that's the standard we've set for ourselves." This patient, methodical approach has served them well in an industry often characterized by hype cycles. The team's market assessment quickly proved accurate. "The market response has been remarkable," Alex explains. "We're seeing users actively seek out our privacy-preserving solution, especially given their growing concerns about identity data breaches. Leading investors have also recognized this potential, backing our vision with their support. These strong signals confirm what we believed from the start - that decentralized identity verification would become essential for the future of Web3." zkMe has established partnerships with more than 70 Web3 projects across various sectors, including Real-World Asset (RWA) integration, On-and-Off-ramps platforms such as Plume and Xion Global, as well as DeFi and Gaming Infrastructure projects like KyberSwap, Hinkal, Singularity, and CARV. The platform's mobile application has reached 33,090 downloads and processed over 660,000 user attestations, demonstrating strong user adoption and market demand. The company's technological infrastructure features several key innovations: Zero-knowledge proofs (ZKP): A decentralized identity network powered by zero-knowledge proofs, enabling private verification while meeting compliance requirements Reusable credentials: An all-in-one identity verification solution that unlocks multi-chain application access with just one verification zkMe Identity Network [ https://www.zk.me/zkkyc]: A decentralized network that ensures transparent verification processes while allowing users to control their data and earn rewards from credential sharing Looking ahead to 2025, zkMe will introduce a comprehensive tokenomics model that aligns ecosystem value with participant contributions. The platform has developed a strategic framework that focuses on three key pillars: * Early supporters will receive ecosystem rewards through a structured incentive mechanism * Active users will gain priority rights in future value distribution events * Data contributors will benefit from a sustainable value-sharing system The robust technological foundation enables zkMe to deliver unique value across the entire Web3 ecosystem. For users, the platform ensures true data sovereignty, enabling both secure verification and value capture through reusable credentials. Projects benefit from streamlined compliance infrastructure that dramatically reduces KYC costs while eliminating data breach risks. Meanwhile, developers can leverage a comprehensive SDK and API suite for rapid ecosystem integration and expansion. As zkMe marks its second anniversary milestone, the platform acknowledges the crucial role of community support in its development journey. The upcoming year promises to be transformative, as the maturation of tokenomics and decentralized governance structures will usher in a season of unprecedented rewards for early contributors. Through these concrete actions, zkMe demonstrates that in this era of possibilities, privacy and compliance are not mutually exclusive choices but complementary forces driving industry advancement. "We're not just solving current identity verification challenges," Alex emphasizes, outlining a grander vision. "Through self-sovereign identity management, users will actively match services and discover opportunities, truly creating value from their own data. This embodies the real spirit of Web3 - decentralization and anonymity while giving users complete control over their digital assets and identity data." About zkMe zkMe builds zk Identity Oracles [ https://www.zk.me/identity-oracle ] for truly decentralized & anonymous cross-chain credential verifications. No personal information is ever processed by anyone but the user themselves. Data leaks & misuse by the service provider are impossible; full interoperability & reusability result in a superior ID solution. zkMe is the only FATF compliant KYC provider to be fully decentralized, offering a full suite of products from anti-bit/anti-sybil, to KYC and more. Contacts: Email: contact@zk.me Website: www.zk.me [ http://www.zk.me/ ] Twitter: @zkme_ [ https://x.com/zkme_ ] Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements. Media Contact Company Name: ZkMe Contact Person: Johnny Chan Email: Send Email [ http://www.universalpressrelease.com/?pr=zkme-network-celebrates-second-anniversary-announces-strategic-ecosystem-rewards-program-for-2025 ] State: Hong Kong Country: China Website: http://www.zk.me This release was published on openPR.
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US Unveils New Package Of Chip Export Controls Against China
'Solar glut' isn't a solar problem — it's a transmission and battery problemSANTA CLARA — No Brock Purdy. No Nick Bosa. No chance for the 49ers on Sunday in Green Bay? “We’re missing two good players definitely but we’ll have a lot of good players out there,” 49ers coach Kyle Shanahan countered. “By no means do we not have a chance to win. We’ll fight our tails off. We’ll expect a real good game.” will force him to miss his first game due to injury since becoming the 49ers’ starting quarterback nearly two years ago, and that thrusts ninth-year journeyman Brandon Allen into his 10th career start and first since 2021 with Cincinnati. Bosa’s oblique and hip injuries will sideline him for his first game of this wobbly season. Also ruled out were cornerback Charvarius Ward (personal), return specialist Jacob Cowing (concussion), defensive tackle Kevin Givens (groin) and linebacker Tatum Bethune (knee), while left tackle Trent Williams (ankle) is questionable as a game-time decision for a second straight game. Tight end George Kittle (hamstring) and running back Christian McCaffrey (Achilles) are good to go for an offense that must make do without Purdy at the NFL’s most historic venue. Allen, who last threw a regular-season pass in 2022 as Joe Burrow’s backup in Cincinnati, will guide the 49ers’ offense in a key game as San Francisco aims to make a playoff push. “It’s an opportunity,” Allen said. “The circumstances are what they are. Our team all year long, we’ve been dealing with injuries here or there. It’s been a big next-man-up mentality. It’s definitely an opportunity for me to go out, play well, put our guys in a good position to win the game. “Obviously we want Brock back and healthy and all that,” Allen added. “For the time being, it is an opportunity for me.” Josh Dobbs, who lost out to Allen in training camp and the preseason for the QB2 role, will serve in that capacity Sunday at Lambeau Field, where neither quarterback has played a regular-season game. Rookie Tanner Mordecai likely will be elevated from the practice squad Saturday to serve as the emergency No. 3 quarterback. Purdy wore a resigned, dour expression but offered upbeat words as he walked through the locker room, saying: “We’re all good.” This is not how Shanahan scripted it earlier in the week. “(Purdy) got the MRI on Monday, we thought he just needed some rest and really weren’t concerned about not being there this week,” Shanahan said Friday. “I don’t want to say there’s long-term concern,” Shanahan said Friday. “We got the MRI on Monday. We thought he just needed some rest and really weren’t concerned about him not being good this week.” Purdy rested his arm Wednesday, then left the practice field Thursday after a few light throws. “It surprised him, surprised us how it felt, so we had to shut him down,” Shanahan said. “The MRI doesn’t look like (it’s serious) so it should be alright. But the way it responded this week, it’s really up in the air for next week. We’ll have to see on Monday.” The 49ers follow this week’s trip at Green Bay with a prime-time appearance next Sunday, Dec. 1 in Buffalo. “I know this is like the first time Brock’s missed a game probably in his life,” Allen said. “He’s a tough guy and I’m not too worried about it. I don’t think any of our guys are. He’ll rehab and get back as fast as he can.” No one is saying when Purdy got hurt in Sunday’s 20-17 loss to Seattle, whether it was from diving for the goal line on his first-quarter touchdown scramble or later in the game. Shanahan did note that Purdy struggled to keep his shoulder loose and threw on the sideline, then the pain intensified after the game and into Monday. “It was somewhere during that Seattle game and I’m not sure Brock knows,” general manager John Lynch said on KNBR. “He fought through it through the course of the game. I did see him during the course of the game, anytime there was a pause, he kept throwing. At that point, you’re feeling something but he was so focused on trying to win.” Shanahan lauded Allen as a “really good thrower” who “runs our offense well” and that “guys believe in him.” The feeling is mutual on Allen’s side, as he explained what it was like as Purdy’s stand-in on the starting unit in practice this week: “It’s been a blessing to have them in the huddle with me and the leadership that’s in the huddle, so I can just come in and fill the spot for Brock for now, just try to make some plays and get the ball in their hands.” Added Shanahan: “It’s not a big game-plan adjustment. This is something we didn’t think would happen early in the week. We were fully preparing for Brock to go.” The Packers prepared that way, too. Allen is no total stranger, however. Packers coach Matt LaFleur told reporters Friday in Green Bay, prior to Purdy’s no-show practice: “I know Brandon. I was with him in L.A. (in 2017). He’s been in the league a long time. But I wouldn’t expect their offense to change a whole bunch.” While Purdy traveled with the 49ers to Green Bay, Bosa was staying behind to rehabilitate the upper-body injuries that forced him to miss Sunday’s fourth-quarter collapse against Seattle. It will be the first game Bosa has missed since Oct. 16, 2022 with a groin injury. The 49ers lost a road game that day to Atlanta 28-14 during a season in which Bosa was the NFL’s Defensive Player of the Year. Sam Okuayinonu figures to make his first career start in place of Bosa while Leonard Floyd makes his 11th start at the other defensive end slot. Williams, with the help of a pain-killing injection, made it through the Seattle loss at what he said afterwards was 65 percent. Although listed as questionable, Shanahan reiterated Williams’ status could go right up to kickoff. Jaylon Moore likely would start in place of Williams, if needed. Ward, mourning the death of his 23-month-old daughter, was declared out but Shanahan hoped to have the All-Pro cornerback next week when the 49ers visit Buffalo. “He’s taken three full weeks off,” Shanahan said. “It’s not like dealing with all that stuff he’s getting workouts in and all that. We’re just happy to get him back in the building this week. We don’t want to put any pressure on him, hopefully he’ll be good to go next week.” Among those listed as questionable is guard/center Jon Feliciano, whose 21-day window of practicing while on injured reserve is about to expire. If the 49ers don’t put Feliciano on the 53-man roster by Monday, he’ll spend the rest of the season on injured reserve. Cornerback Jaire Alexander (knee) was ruled out after being unable to practice all week, and linebacker Edgerrin Cooper (hamstring) also will not suit up for Green Bay’s defense. Defensive tackle Colby Wooden is questionable as the only other Packers player on their injury report.
Cerity Partners LLC Buys 256,933 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)Nov. 25 (UPI) -- Macy's announced Monday that it would delay its full third-quarter earnings report because of an employee hiding up to $154 million in expenses, sending its stock plummeting in early trading.In a surprising turn despite financial setbacks, Bill Sweeney, the chief executive of the Rugby Football Union (RFU), has received a significant pay rise of over £400,000, bringing his total remuneration to £1.1 million. This comes in the wake of a reported record operating loss of £37.9 million for the RFU, a drastic shift from the previous year's profit of £4 million. The annual report highlights RFU revenues totaling £175.2 million, down from £221.4 million the prior year, amidst continued investments in rugby. The RFU has also revealed the anticipated financial effects of the Rugby World Cup, maintaining a robust financial strategy with no debt and positive reserves, according to RFU Board Chairman Tom Ilube. Despite the financial strains, Sweeney emphasized stability within the community game, with increased player registrations reported, and predicted a transformative impact from a new £100 million sponsorship deal with Allianz, particularly as the union prepares to host the Women's Rugby World Cup 2025. (With inputs from agencies.)
Cyber Monday shoppers expected to set a record on biggest day for online shoppingFast Casual Concepts, Inc. Announces Acquisition of CK DistributionEvery industry has its visionaries, or those that refuse to settle for the status quo and instead pave the way for their success. In the field of digital marketing, Jack Zuckowsky , CEO of Fuel Media Agency, stands out as a transformative figure. His innovative strategies, unwavering focus on authentic growth, and ability to inspire a new generation of marketers are shaping the landscape of the industry. Breaking Through the Noise The digital space has been identified as an area where brands battle for their share of visibility and relevance. It's a space that rewards creativity and innovation, yet penalizes redundancy. Zuckowsky's philosophy centers on cutting through the noise with campaigns that engage as much as they inspire. He understands that marketing is not just about selling; it's about creating an experience that leaves a lasting impression. Fuel Media Agency operates by this very ethos. The agency strives innovatively toward creating striking campaign highlights for its clients, living by a single line of giving priority to unique and personalized approaches. Under the hands-on leadership of Jack, this commitment toward excellence follows in every campaign undertaken to date. Mentoring The Next Generation Building Fuel Media Agency for Jack was about leaving a mark rather than scaling a business. The best thing he has done, however, is investing in mentorship for many young, fresh marketers. Jack believes in letting the next generation develop the proper mindset to work within an ever-changing industry. From sharing critical insight into authenticity to teaching young marketers how to adapt to the changing nature of technology, he molded into a mentor and a thought leader. Already, scores of professionals have taken his counsel to carve out successful careers in digital marketing. Fuel Media Agency's Impact Under his stewardship, the Fuel Media Agency grew from a promising startup to a great name within the industry. It is a marketing service for which a client seeking to partner with will actually do much more than just engaging a marketing service; they are finding a partner invested in their very success. Be it creating campaigns to speak to an audience or delivering transparency and clarity to the clients, Fuel Media Agency is indeed all that any modern, forward-looking agency should be. A Long-Term Goal Meanwhile, Jack had bigger visions other than the everyday running of Fuel Media. He would want marketing someday to be a force for good: to connect people with brands that actually suit their values. Innovation and authenticity now became his driving forces of constant refinement of strategy, staying one step ahead of the trends which would emerge. With each project, it's clear that Jack Zuckowsky is not growing merely an excellent agency but is building a legacy founded on principles like integrity, creativity, and collaboration. In an age when most industries would want it all yesterday, the long vision of Jack is rather refreshing: relationships and impact, merely real growth.
The Central Bank of Nigeria fined 29 banks a total of N15 billion for violating anti-money laundering and counter-terrorism financing regulations. The CBN governor underlined the gravity of these violations and the need for the affected banks to address the fundamental issues It further stated that adherence to regulations is a top priority for the CBN in order to promote stability and national development CHECK OUT: Learn at Your Own Pace! Our Flexible Online Course allows you to fit copywriting skills development around your busy schedule. Enroll Now! Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market . A total of N15 billion in fines was levied against 29 banks by the Central Bank of Nigeria (CBN) for breaking anti-money laundering (AML) and counter-terrorism financing (CTF) laws. At the Chartered Institute of Bankers of Nigeria (CIBN) 2024 Bankers' Night in Lagos, CBN Governor Olayemi Cardoso made this announcement. Cardoso emphasized in his remarks the seriousness of these infractions and the necessity for the impacted banks to fix the structural flaws that permitted these failures to happen, BusinessDay reported. Read also CBN gives simple solution as cash dries up in ATMs, sends message to UBA, GTB, others PAY ATTENTION : Standing out in social media world? Easy! "Mastering Storytelling for Social Media" workshop by Legit.ng. Join Us Live! “In addition to these penalties, the banks are required to address the root causes of the lapses, which is crucial for improving regulatory effectiveness. Historically, the industry has struggled with recurring issues, but we are confident that this approach will help change that narrative,” Cardoso stated. The Broader Implications of Compliance The governor of the CBN emphasized the wider effects of compliance on the financial system, pointing out that organizations that place a high priority on following regulations support stability and national progress. “A bank that prioritises compliance does more than protect itself -it strengthens the entire financial ecosystem. It directs financial resources toward growth, innovation, and prosperity rather than crime and corruption. Together, we must exceed standards, demonstrating to the public and the world that we are stewards of integrity and trust,” he added. Cardoso added that non-compliance has repercussions that go beyond fines imposed by the government. He asserts that problems like fraud, corruption, and money laundering threaten the core of the financial system. Read also FIRS Boss Zacch Adedeji calls for public support for govt policies “The cost of inaction is profound—fraud undermines confidence, corruption erodes trust, and money laundering perpetuates organized crime,” he remarked. A Vision for a Culture of Compliance The governor outlined a goal for Nigeria's banking sector to have a strong compliance culture. He emphasized that financial institutions need to be proactive in identifying and reducing risks in addition to adhering to legal requirements. According to Cardoso, boards and CEOs need to set an example by prioritizing compliance strategically and advocating for zero tolerance for violations, both in terms of policy and in actuality. He advised financial institutions to aggressively handle risks in high-risk locations and foresee vulnerabilities. CBN gives simple solution as cash dries up in ATMs Legit.ng reported that the Central Bank of Nigeria (CBN) is set to penalize negligent financial firms for the ongoing cash shortage at Automated Teller Machines (ATMs). CBN Governor Dr. Olayemi Cardoso made this known on Friday at the annual Bankers' Dinner hosted by the Chartered Institute of Bankers of Nigeria. Read also Fraudsters attack Nigerian banks, steal money, Access bank, others react The declaration was made in response to reports of cash shortages in banks in recent days, both at ATMs and over the counter. PAY ATTENTION : Legit.ng Needs Your Opinion! That's your chance to change your favourite news media. Fill in a short questionnaire Source: Legit.ngGDIT Awarded Mission Partner Environment ContractIt’s one thing for a president to pardon his son. It’s another to do it like this. President Joe Biden’s pardon of his son , Hunter Biden, on Monday (AEDT) is exceptional not just because of the pardon’s recipient – the closest family member to receive a pardon in history – but also for its sheer breadth, according to experts on presidential pardons. President Joe Biden accompanied by his son Hunter Biden in Nantucket over the Thanksgiving holiday. Credit: AP Biden didn’t just pardon his son for his convictions on tax and gun charges , but for any “offences against the United States which he has committed or may have committed or taken part in during the period from January 1, 2014, through December 1, 2024”. That’s a nearly 11-year period during which any federal crime Hunter Biden might have committed – and there are none we are aware of beyond what has already been adjudicated – can’t be prosecuted. It notably covers when he was appointed to the board of the Ukrainian energy company Burisma in 2014 all the way through to Sunday, well after the crimes for which he was prosecuted. Hunter Biden hasn’t been charged for his activities regarding Burisma or anything beyond his convictions, and nothing in the public record suggests criminal charges could be around the bend. Congressional Republicans have probed the Burisma matter and Hunter Biden extensively and could seemingly have uncovered chargeable crimes if they existed, but haven’t done so. Hunter Biden after pleading guilty to federal tax charges in September. Credit: AP Even still, the scope of the pardon is remarkable. Experts say there is little to no precedent for a pardon covering such a wide range of activity over such a long period, with the closest being Gerald Ford’s 1974 pardon of Richard Nixon after Nixon resigned post-Watergate. Hunter Biden’s pardon “isn’t tied to any special counsel investigation or charging document,” Sam Morison, who spent 13 years working for the Justice Department’s Office of the Pardon Attorney, said via email. “The only pardon grant that comes close is Ford’s pardon of Nixon for any crimes he may have committed from 1969 to 1974, which on its face would have included crimes (if any) unrelated to Watergate.” Experts pointed to several broad, preemptive and blanket pardons that bear similarities to the one covering Hunter Biden. But they also feature some key differences. The language of the Nixon pardon cited crimes he “has committed or may have committed” between January 20, 1969, and August 9, 1974 – language similar to Hunter Biden’s pardon. Pardoned: Former US president Richard Nixon became infamous for the Watergate scandal. Credit: AP As noted, that is not Watergate-specific, and the dates cover Nixon’s entire presidency. But it’s a period roughly half as long as that covered under Hunter Biden’s pardon. There’s also the fact that some of Nixon’s actions might already have been exempt from prosecution by virtue of his role as president – something Hunter Biden doesn’t benefit from. In 1976 Jimmy Carter pardoned most of those who dodged the Vietnam War draft between August 4, 1964, and March 28, 1973. That covered a large group of people, but the pardon was only for violating the Military Selective Service Act and related regulations. Other presidents have also issued blanket amnesties for large groups of people tied to specific events or specific crimes. Benjamin Harrison did so in 1893 for Mormon polygamists, noting that they had “abstained from such unlawful cohabitation” by 1890. But that was, likewise, for a specific crime. US President Andrew Johnson pardoned 13,000 former Confederate soldiers. Credit: LOC Andrew Johnson issued individual pardons for 13,000 Confederate soldiers after the Civil War, granting them clemency for “all offences by him committed, arising from participation, direct or implied” in the rebellion. “These individual pardons were issued by Johnson throughout his term, and particularly during its first two years,” Frank O. Bowman III, a pardon expert at the University of Missouri School of Law, said in an email. “Hence, they reached back some 6–8 years.” George Washington did so in 1794 for participants of the Whiskey Rebellion, a tax revolt in Pennsylvania . The pardoned conduct was broad – the pardon was for those who had “directly or indirectly engaged in the wicked and unhappy tumults and disturbances lately” and encompassed residents of several counties – but it was at least tied to one event. A couple of other more recent examples that involve pardoning figures for crimes committed in high-profile scandals bear some similarities to the Hunter Biden pardon. Michael Flynn was pardoned by Donald Trump at the end of his first presidency. Credit: AP George H.W. Bush in 1992 pardoned six figures in the Iran-contra affair, including former defence secretary Caspar Weinberger, “for all offences charged or prosecuted by Independent Counsel Lawrence E. Walsh or other member of his office, or committed by these individuals and within the jurisdiction of that office”. And now-President-elect Donald Trump in 2020 pardoned former national security adviser Michael Flynn for “any and all possible offences” arising from facts or circumstances that were “in any matter related” to special counsel Robert Mueller’s Russia investigation. Broad clemency The latter went even further than the former, by pardoning Flynn for conduct even just somehow related to the special counsel’s investigation. At the time, some experts regarded it as the broadest act of clemency since Nixon’s pardon. Loading “Flynn’s pardon was broad, to be sure, but not nearly as broad as Hunter’s,” Morison said. There is some question about whether such a broad pardon for unspecified crimes is constitutional, an issue that arose when reports indicated Trump might preemptively pardon family members at the tail end of his first term. The Nixon pardon was not tested in court. But the Supreme Court said amid Johnson’s post-Civil War pardons that a president’s pardon power “extends to every offence known to the law, and may be exercised at any time after its commission, either before legal proceedings are taken or during their pendency or after conviction and judgment.” There is some subjectivity in comparing these pardons. Hunter Biden’s known actions come up well shy of the magnitude of participating in a rebellion against the United States or some of the high-profile scandals mentioned above, for example. And it’s worth emphasising how extraordinarily political many of Trump’s pardons were – granting clemency to numerous political allies and several people wrapped up in investigations involving Trump, including Flynn. Trump surely stretched the bounds of presidential pardon power. But there’s no question that Biden’s exercise of his pardon power also stretched those bounds - and on behalf of his son, no less. “The Nixon pardon is the only precedent in modern times for such a broad pardon, which purports to insulate Hunter Biden from prosecution for crimes that have not even been charged,” said Margaret Love, who served as US pardon attorney under George H.W. Bush and Bill Clinton. “Some of the Trump pardons were also disruptive of ongoing prosecutions,” Love said, adding that they were at least “directed to specific charged conduct”. Washington Post Save Log in , register or subscribe to save articles for later. 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BUFFALO, N.Y. -- A boost is coming to the Buffalo Bills ' defense. The Bills have activated linebacker Matt Milano off injured reserve, putting Milano in position to play in Sunday night's game against the San Francisco 49ers (8:20 ET). Milano, 30, has not played in a regular-season game since Oct. 8, 2023, when he suffered a season-ending leg injury in the team's game vs. the Jacksonville Jaguars in London. The outside linebacker was on pace to return for the 2024 season but tore his biceps during a drill with a tackling dummy during training camp in August. Editor's Picks Bills return from bye on quest for AFC East crown, No. 1 seed 3d Alaina Getzenberg Helping hand: Bills summon fans to help shoveling for first time this season 4h Alaina Getzenberg Our guide to every Week 13 NFL game: Matchup previews, predictions, picks and nuggets 1d NFL Nation "Really just the next step, right, so, he hasn't been through a Friday practice really to this extent," coach Sean McDermott said Friday of Milano's potential availability. "So, we'll see how he handles today and then go from there." Milano has played in only five games with the team's starting middle linebacker, Terrel Bernard . The team did not need to make a corresponding roster move as there was an open spot on the 53-man roster. Dorian Williams -- a 2023 third-round pick -- has started and played well in Milano's place as part of the team's 9-2 start to the season. He leads the team in tackles (97) and is second in tackles for loss (five). The 2022 first-team All-Pro was a full participant in practice all week. "It feels good just to be out there with the guys, man," Milano said Wednesday. "Be competing again and playing ball." The injury required surgery, and the team placed him on injured reserve but with a designation to return. Milano's 21-day practice window was opened Nov. 11. "Huge," nickel corner Taron Johnson said on getting the linebacker back. "The way Matt plays the game, the way he has played the game, is special. So having a guy like that on the field is going to make our defense tremendously better. So, whether he's here this week or whenever that time comes, just excited to have him back." The Bills can clinch the AFC East with a win over the 49ers. The team did not activate rookie defensive tackle DeWayne Carter (wrist), and he has been downgraded to out for the game vs. the 49ers. His 21-day practice window will remain open. The Bills also elevated quarterback Mike White and tight end Zach Davidson from the practice squad for the game. Tight end Dalton Kincaid (wrist) has already been ruled out, while wide receiver Keon Coleman (wrist) is questionable.
Blum Holdings CEO Sabas Carrillo acquires $7,992 in stockThe Christmas tradition has become nearly global in scope: Children from around the world track Santa Claus as he sweeps across the earth, delivering presents and defying time. Each year, at least 100,000 kids call into the North American Aerospace Defense Command to inquire about Santa’s location. Millions more follow online in nine languages , from English to Japanese. On any other night, NORAD is scanning the heavens for potential threats , such as last year’s Chinese spy balloon . But on Christmas Eve, volunteers in Colorado Springs are fielding questions like, “When is Santa coming to my house?” and, “Am I on the naughty or nice list?” “There are screams and giggles and laughter,” said Bob Sommers, 63, a civilian contractor and NORAD volunteer. Sommers often says on the call that everyone must be asleep before Santa arrives, prompting parents to say, “Do you hear what he said? We got to go to bed early.” NORAD’s annual tracking of Santa has endured since the Cold War , predating ugly sweater parties and Mariah Carey classics . Here’s how it began and why the phones keep ringing. The origin story is Hollywood-esque It started with a child’s accidental phone call in 1955. The Colorado Springs newspaper printed a Sears advertisement that encouraged children to call Santa, listing a phone number. A boy called. But he reached the Continental Air Defense Command, now NORAD, a joint U.S. and Canadian effort to spot potential enemy attacks. Tensions were growing with the Soviet Union, along with anxieties about nuclear war. Air Force Col. Harry W. Shoup picked up an emergency-only “red phone” and was greeted by a tiny voice that began to recite a Christmas wish list. “He went on a little bit, and he takes a breath, then says, ‘Hey, you’re not Santa,’” Shoup told The Associated Press in 1999. Realizing an explanation would be lost on the youngster, Shoup summoned a deep, jolly voice and replied, “Ho, ho, ho! Yes, I am Santa Claus. Have you been a good boy?” Shoup said he learned from the boy’s mother that Sears mistakenly printed the top-secret number. He hung up, but the phone soon rang again with a young girl reciting her Christmas list. Fifty calls a day followed, he said. In the pre-digital age, the agency used a 60-by-80 foot (18-by-24 meter) plexiglass map of North America to track unidentified objects. A staff member jokingly drew Santa and his sleigh over the North Pole. The tradition was born. “Note to the kiddies,” began an AP story from Colorado Springs on Dec. 23, 1955. “Santa Claus Friday was assured safe passage into the United States by the Continental Air Defense Command.” In a likely reference to the Soviets, the article noted that Santa was guarded against possible attack from “those who do not believe in Christmas.” Is the origin story humbug? Some grinchy journalists have nitpicked Shoup’s story, questioning whether a misprint or a misdial prompted the boy’s call. In 2014, tech news site Gizmodo cited an International News Service story from Dec. 1, 1955, about a child’s call to Shoup. Published in the Pasadena Independent, the article said the child reversed two digits in the Sears number. “When a childish voice asked COC commander Col. Harry Shoup, if there was a Santa Claus at the North Pole, he answered much more roughly than he should — considering the season: ‘There may be a guy called Santa Claus at the North Pole, but he’s not the one I worry about coming from that direction,’” Shoup said in the brief piece. In 2015, The Atlantic magazine doubted the flood of calls to the secret line, while noting that Shoup had a flair for public relations. Phone calls aside, Shoup was indeed media savvy. In 1986, he told the Scripps Howard News Service that he recognized an opportunity when a staff member drew Santa on the glass map in 1955. A lieutenant colonel promised to have it erased. But Shoup said, “You leave it right there,” and summoned public affairs. Shoup wanted to boost morale for the troops and public alike. “Why, it made the military look good — like we’re not all a bunch of snobs who don’t care about Santa Claus,” he said. Shoup died in 2009. His children told the StoryCorps podcast in 2014 that it was a misprinted Sears ad that prompted the phone calls. “And later in life he got letters from all over the world,” said Terri Van Keuren, a daughter. “People saying ‘Thank you, Colonel, for having, you know, this sense of humor.’” A rare addition to Santa’s story NORAD’s tradition is one of the few modern additions to the centuries-old Santa story that have endured, according to Gerry Bowler, a Canadian historian who spoke to the AP in 2010. Ad campaigns or movies try to “kidnap” Santa for commercial purposes, said Bowler, who wrote “Santa Claus: A Biography.” NORAD, by contrast, takes an essential element of Santa’s story and views it through a technological lens. In a recent interview with the AP, Air Force Lt. Gen. Case Cunningham explained that NORAD radars in Alaska and Canada — known as the northern warning system — are the first to detect Santa. He leaves the North Pole and typically heads for the international dateline in the Pacific Ocean. From there he moves west, following the night. “That’s when the satellite systems we use to track and identify targets of interest every single day start to kick in,” Cunningham said. “A probably little-known fact is that Rudolph’s nose that glows red emanates a lot of heat. And so those satellites track (Santa) through that heat source.” NORAD has an app and website, www.noradsanta.org , that will track Santa on Christmas Eve from 4 a.m. to midnight, Mountain Standard Time. People can call 1-877-HI-NORAD to ask live operators about Santa’s location from 6 a.m. to midnight, mountain time.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. People are also reading... 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. The 7 small business trends that paid off in 2024 The 7 small business trends that paid off in 2024 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. 1. Small and cozy office spaces in industrial and flex condos 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. 2. More outsourcing of financial services 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. 3. Automating bookkeeping tasks with AI 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. 4. AI-driven customer service 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. 5. Personalized customer experiences "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. 6. Businesses promoting social impact 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. 7. Increased social commerce sales 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. Be the first to know Get local news delivered to your inbox!