Global Business Magazine

This prestigious recognition highlights GBS’s outstanding expertise in investment consulting, merger & acquisition advisory, and company formation services for foreign investors seeking to enter and expand in Vietnam.

Editor — Tue, 04 Feb 2025 06:29:07 +0000

Global Business Services LLC (GBS), a leading business and legal services firm in Vietnam, is proud to announce that it has been shortlisted for the “Financial Services Law Firm of the Year in Vietnam – 2025” at the Global Law Experts (GLE) Annual Awards.

This prestigious recognition highlights GBS’s outstanding expertise in investment consulting, merger & acquisition advisory, and company formation services for foreign investors seeking to enter and expand in Vietnam.

The Global Law Experts Awards celebrate top-performing legal and consulting firms worldwide that demonstrate excellence in industry knowledge, client service, and innovative solutions. Being shortlisted is a testament to GBS’s dedication to supporting international businesses in navigating Vietnam’s dynamic business environment, ensuring a smooth market entry and sustainable growth.

“With a highly skilled team and a diverse global client base, we take great pride in being recognized among the best in the industry,” said Sophie Dao, Senior Partner of GBS. “This shortlisting reflects our unwavering commitment to delivering top-tier financial and legal advisory services that drive success for our clients.”

GBS extends its heartfelt gratitude to its clients, partners, and team members for their continuous trust and support.

For more information about GBS and its services, please visit https://gbs.com.vn.

Contact:
Sophie Dao
Senior Partner, GBS
Email: sophie@gbs.com.vn
Phone: +84903189033
Website: https://gbs.com.vn

NEXUS CAPITAL MANAGEMENT ANNOUNCES ACQUISITION OF TRICAM INDUSTRIES

BusinessMagazine — Mon, 03 Feb 2025 22:08:00 +0000

LOS ANGELES & EDEN PRAIRIE, MN, Feb. 03, 2025 (GLOBE NEWSWIRE) — Nexus Capital Management LP (together with certain affiliates, “Nexus”), a Los Angeles-based alternative asset management firm, announced today it has partnered with the management team and existing owners, the McMunn family, to acquire Tricam Industries, LLC (the “Company” or “Tricam”).

Tricam, based in Eden Prairie, MN, specializes in the design, development and engineering of consumer and professional home improvement equipment, including ladders and step stools, garden carts, wheelbarrows, hose reels and hand trucks, among others. The Company’s products are primarily sold through home center and retail channels across North America, Australia and New Zealand under the flagship Gorilla^® brand as well as other owned and licensed brands.

Jeff Skubic, President & CEO of Tricam, stated, “This transaction represents an exciting milestone in Tricam’s corporate journey. Over the last three decades, Tricam has built a strong reputation as a trusted supplier with high quality products consumers respond to and have come to expect from us. We’re grateful for the confidence our partners and customers place in us, and we’re looking forward to partnering with Nexus as we continue to expand our product portfolio and accelerate our growth. Our founder, Tony McMunn, established a culture built on an unwavering entrepreneurial drive that fosters and rewards hard work, creativity, and collaboration. The team is excited, and we’re pleased the McMunn family will continue along with us.”

“My family and I are excited to partner with Nexus and feel very confident this relationship will allow for continued success and provide opportunities for our employees” said Tricam founder Tony McMunn.

“We are thrilled to partner with Jeff, Tony and the Tricam management team,” said Michael Cohen, Partner at Nexus. “Tricam has established itself as a market leader by focusing relentlessly on innovation, quality and safety. We look forward to working closely with Tricam to continue building on the Company’s long history of success.”

Brad Kottman, Principal at Nexus, added, “We are thoroughly impressed with the strong foundation Tricam has established. The Company is led by a highly experienced team, the product suite is differentiated, and the supply chain is diverse and resilient. This investment represents a compelling new platform that is well positioned to react to changing environments and pursue continued growth.”

Kirkland & Ellis LLP served as legal advisor to Nexus. Jefferies LLC served as financial advisor and Fox Rothschild LLP served as legal advisor to Tricam. J.P. Morgan and Citi provided financing for the acquisition.

About Tricam

Tricam, founded in 1990, is a leading supplier of home improvement and hardware products sold through home center and retail outlets primarily in the US, Canada, Australia and New Zealand. Based in Eden Prairie, Minnesota, the Company employs a growing team centered around bringing innovative products to market and maintaining strong relationships with our retailer and supplier partners. The Company continues to invest in its product and brand portfolio, led by its flagship Gorilla® brand across multiple product categories, including ladders, garden carts, wheelbarrows, hose reels and hand trucks. For more information on Tricam, please visit www.gorillamade.com and www.tricamindustries.com.

About Nexus Capital Management LP

Nexus is an alternative asset investment management company based in Los Angeles, California that was founded in 2013. Nexus employs a flexible investment mandate that focuses on long-term value creation by partnering with leading management teams and businesses. For more information on Nexus, please visit www.nexuslp.com.

Contact Information:

Mike Gabbert

Tricam Director of Marketing

Mgabbert@tricam.com

First Helium Spuds 7-15 Exploration Well

BusinessMagazine — Mon, 03 Feb 2025 22:00:00 +0000

Targets Leduc Light Oil on Large Structural Anomaly

CALGARY, Alberta, Feb. 03, 2025 (GLOBE NEWSWIRE) — First Helium Inc. (“First Helium” or the “Company”) (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced that it has begun drilling its high impact Leduc anomaly, the 7-15 well, at its Worsley Property in Northern Alberta. The location was identified on proprietary 3D seismic data interpreted last spring. In addition to the primary Leduc formation target, the Company will be evaluating multiple uphole zones for oil, natural gas and helium. These zones have been previously identified on First Helium wells and in other existing well bores on, and around the Company’s Worsley land base. The Company will continue to provide regular updates on ongoing field activities.

“We are excited to be drilling our high impact Leduc anomaly, 7-15, which on seismic is approximately 5X the areal extent of our successful 1-30 light oil pool discovery. Favorable results from this well will further de-risk our Leduc Play, where we have identified 10 additional primary locations on proprietary 3D seismic, and potential for further southeast extension across our 100% owned lands,” said Ed Bereznicki, President & CEO of First Helium. “With this next drill, we are also excited about continuing to evaluate the multi-zone potential across our Worsley land base. Success in these stacked zones could provide meaningful additional value for our shareholders from multiple formations and commodities,” added Mr. Bereznicki.

The recently drilled 7-30 development well has been cased for completion and testing. Following drilling of the 7-15 well, and subject to results, necessary preparations are being made to complete, equip and tie-in both wells prior to spring break up in Alberta (a period from mid/late March through May when Provincial highway restrictions limit heavy equipment movement), further setting the stage for systematic development across the Company’s extensive 100%-owned land base.

Figure 1:
East Worsley Project Inventory

ABOUT FIRST HELIUM

Led by a core Senior Executive Team with diverse and extensive backgrounds in Oil & Gas Exploration and Operations, Mining, Finance, and Capital Markets, First Helium seeks to be one of the leading independent providers of helium gas in North America.

First Helium holds over 53,000 acres along the highly prospective Worsley Trend in Northern Alberta which has been the core of its exploration and development drilling activities to date.

Building on its successful 15-25 helium discovery well, and 1-30 and 4-29 oil wells at the Worsley project, the Company has identified numerous follow-up drill locations and acquired an expansive infrastructure system to facilitate future exploration and development across its Worsley land base. Cash flow from its successful oil wells at Worsley has helped support First Helium’s ongoing exploration and development growth strategy. Further potential oil drilling locations have also been identified on the Company’s Worsley land base.

For more information about the Company, please visit www.firsthelium.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Edward J. Bereznicki
President, CEO and Director

CONTACT INFORMATION

First Helium Inc.
Investor Relations
Email: ir@firsthelium.com
Phone: 1-833-HELIUM1 (1-833-435-4861)

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS

This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “predict”, “potential” and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of future planned activities. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the equity financing markets and regulatory approval.

Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

SOURCE: First Helium Inc.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/695cd8e5-7291-4f66-b2f9-a6bdc7d7928e

Auto stocks fall as Trump tariffs spark trade war concerns

BusinessMagazine — Mon, 03 Feb 2025 16:57:11 +0000

Employees work on the assembly line of new energy vehicles at a factory of Chinese EV startup Leapmotor on April 1, 2024 in Jinhua, Zhejiang Province of China.

Shi Kuanbing | VCG | Visual China Group | Getty Images

Shares of auto giants fell sharply on Monday, but were off their intraday lows after President Donald Trump said he is pausing his new 25% tariff on goods imported from Mexico until March 1.

Trump signed executive orders on Saturday to implement 25% tariffs on Mexican and most Canadian goods, while imposing a 10% duty on Canadian energy products and additional 10% on Chinese goods, which are set to take effect from Tuesday.

The deferment for Mexico followed the country’s president agreeing to immediately send 10,000 soldiers to the U.S. border to prevent drug trafficking from Mexico.

In the U.S., General Motors was 2% lower as of 11:30 a.m. ET, while Ford was down less than 1%. Shares of Tesla were off roughly 5%. U.S.-listed shares of Chrysler parent Stellantis were down about 3%.

In Europe, shares of French car parts supplier Valeo were off 7%. Germany’s Volkswagen also slipped nearly 5%.

U.S.-listed shares of Japanese auto giants Toyota Motor and Honda Motor were down 2% and 4%, respectively. Tokyo-listed shares of Mazda were off about 8%, while Nissan Motor’s stock was off 6%

The U.S. president warned Americans could feel “some pain” when the measures come into force, but said the tariffs were necessary “because of the major threat of illegal aliens and deadly drugs killing our Citizens, including fentanyl.”

Canada and Mexico have hit back, threatening to impose retaliatory measures that included tariffs.

Shares of global automakers plunged as investors fretted over the impact of a potential trade war.

Analysts expect Trump’s tariffs to have a profound impact on the global automotive industry, citing a heavy reliance on manufacturing operations across North America, particularly in Mexico, and complex supply chains.

“As it relates to Autos stocks, we do not see any absolute winners in a NA trade war, and we expect Auto Stocks broadly to struggle,” Wolfe Research analyst Emmanuel Rosner said Monday in an investor note.

Europe next in line for tariffs?

Trump has suggested the European Union may be next to face tariffs, telling reporters that additional duties on the bloc could be imposed “pretty soon.”

For its part, the 27-nation bloc has pledged to respond to any U.S. duties in a proportionate way.

U.S.-EU automotive trade has traditionally been a core pillar of the European automotive industry’s success.

Tariffs on motor vehicle imports from the EU would likely raise the cost of European cars in the U.S. market, according to an analysis from Oxford Economics. The step will also likely result in a sharp contraction of EU auto exports to the critically important U.S. market.

For Germany, Europe’s largest economy, the prospect of U.S. tariffs on European autos comes at a time when it’s top original equipment manufacturers (OEMs) are already reeling.

Volkswagen, Mercedes-Benz Group and BMW have all issued profit warnings in recent months, citing economic weakness and sluggish demand in China, the world’s largest car market.

A man sits across from the Volkswagen factory on October 28, 2024 in Wolfsburg, Germany.

Sean Gallup | Getty Images News | Getty Images

Volkswagen on Monday said that it is currently assessing the potential effects of U.S. tariffs on both the company and on the broader automotive industry.

“At the same time, we continue to promote open markets and stable trade relations. These are essential for a competitive economy and for the automotive industry in particular,” the automaker said in a statement.

“We are counting on constructive talks between the trading partners to ensure planning security and economic stability and to avoid a trade conflict,” they added.

A BMW spokesperson described free trade as “one of the most crucial drivers of growth and progress,” noting that “tariffs, on the other hand, hinder free trade, slow down innovation, and set a negative spiral in motion. In the end, they are detrimental to customers, making products more expensive and less innovative.”

— CNBC’s Michael Wayland contributed to this article.

By CNBC

Trump tariffs could create a new challenge for Chinese policymakers: A growth rate below 5%

BusinessMagazine — Mon, 03 Feb 2025 10:07:15 +0000

Jakub Porzycki | Nurphoto | Getty Images

The imminent U.S. tariffs are likely to deal a significant blow to China’s already-faltering economy, reinforcing calls for more forceful stimulus measures to bolster the country’s growth.

U.S. President Donald Trump on Saturday followed through on a threat made after his presidential victory, imposing 10% tariffs on Chinese goods, starting Tuesday, over Beijing’s alleged failure to prevent the flow fentanyl into the U.S.

The blanket 10% tariffs will be levied on top of the existing tariffs of up to 25% that Trump had imposed on Chinese goods during his first presidency.

The additional 10% tariffs would reduce China’s real GDP growth by 50 basis points this year, economists at Goldman Sachs said in a report Monday.

The investment bank expects China’s real GDP growth to slow to 4.5% this year while domestic price growth remains under pressure due to weak demand, with consumer inflation expected to rise just 0.4% in 2025. The consumer price inflation barely grew last year, rising 0.2% year on year. Higher U.S. tariffs could further strain domestic prices as external demand for Chinese goods weaken.

As Trump started his second term, he ordered his administration to investigate Beijing’s compliance with a trade deal struck during his first presidency in 2020. The final result of the assessment will be delivered to Trump by April 1, potentially setting the stage for further tariff actions, economists said.

“Clearly the 10% tariff hike came in quickly and lower, but there remains a lot of uncertainty on the timing and scale of additional tariffs on China,” Wang Tao, chief China economist at UBS Investment Bank told CNBC on Monday.

“We are not revising our 2025 baseline forecast of 4.0% GDP growth for China,” she said, factoring in additional U.S. tariffs of 60% on a quarter of China’s exports and greater policy support from Beijing.

Currency defense

Chinese yuan plunged 0.60% to 7.3631 against the greenback in offshore trading Monday, before trimming losses, according to LSEG data. The offshore yuan has lost 3.7% since Trump’s presidential victory in early November.

Markets in mainland China were shut for the Lunar New Year and will resume trading on Wednesday.

A primary tool used by the People’s Bank of China to manage the currency has been the daily reference rate — the onshore yuan is allowed to trade only within a 2% range of this reference rate.

The spot level where PBOC sets the reference rate on Wednesday will be a key indicator to gauge Beijing’s reaction to the tariff hikes, said Ding Shuang, chief economist of Greater China and North Asia at Standard Chartered Bank.

“We expect China to mainly rely on stimulus to boost domestic demand, instead of large devaluation, to offset the tariff impact,” Shuang added.

Since last year, the central bank has been capping the exchange rate guidance at under 7.20 per dollar, a move seen as a signal of its determination to defend the currency.

As the tariff rate climbs, the central bank could allow a “gradual drift higher” in the onshore yuan between 7.40 and 7.50 against the U.S. dollar, Goldman Sachs said, expecting the PBOC to prioritize FX stability ahead of monetary policy easing.

The central bank could “skip” other easing measures like cutting the amount of cash that banks must hold as reserves, while seeking to manage liquidity via open market reverse repurchase operations, according to Goldman Sachs.

Stimulus eyed

China was able to “effectively bypass” the hefty tariffs during Trump’s first term, but it is “not so easy to escape the impact of tariffs this time around,” Barclays said in a note on Monday.

Policy rooms to maneuver exchange rate depreciation, large-scale trade diversion and reduction in exporters’ profit margins have all “diminished significantly,” the bank said.

As an external trade war looms, economists expect more fiscal spending to offset China’s deflationary pressures and boost consumer spending.

While the economy hit the growth target of 5.0% last year, it struggled to emerge from a real estate collapse and weak consumer and business confidence, leaving exports as a key driver of growth. Even in 2023, exports contributed almost 20% of the country’s GDP, according to World Bank data.

In 2024, China’s exports to the U.S. grew by 4.9% to $524.6 billion, accounting for nearly 15% of its total exports. China’s trade surplus with U.S. stood at over $360 billion last year, compared with $336 billion in 2023, according to the official customs data.

Since Beijing introduced a flurry of stimulus measures late last year, including interest rate cuts and a five-year fiscal package totaling 10 trillion yuan ($1.4 trillion), some sectors have seen economic activity stabilize.

For this year, the government has pledged to make boosting consumption a top priority and expanded a consumer goods trade-in program.

Markets are monitoring Beijing’s next policy steps as trade tensions with the U.S. are expected to intensify. The top leadership is anticipated to unveil further stimulus measures and set the annual GDP growth target at the annual parliamentary meetings in March.

“We continue to expect policymakers to announce more expansionary fiscal policies … with the augmented fiscal deficit widening by 2.6 percentage point of GDP in 2025,” Goldman Sachs economists said.

Pending tit-for-tat

China’s Commerce Ministry said Sunday that it would challenge Trump’s tariff decision at the World Trade Organization, condemning the sweeping tariffs as a “serious violation of international trade rules.”

While vowing to “take corresponding countermeasures to firmly safeguard its own rights and interests,” China’s statement, however, stopped short of announcing any specific plans for tariffs.

Filing a lawsuit with the WTO has largely been a symbolic move that Beijing has taken against tariffs on Chinese-made electric vehicles by the European Union too. In recent weeks, Chinese officials have reiterated that Beijing believes there is no winner in a trade war.

Beijing’s response so far has appeared “mild to start,” said Lynn Song, chief economist at LNG, but he cautioned some Chinese policymakers may still be on holiday, hence delaying the announcement of any concrete retaliation until they return to work on Feb. 5.

“If pushed into a corner, China’s retaliation could be stronger than what most expect,” Song added, suggesting Beijing has a range of tools to respond, including intensifying export controls or bans on rare earths, and measures targeted at American conglomerates with large reliance on the Chinese market.

Trump’s Saturday executive orders included additional 25% tariffs on goods from Mexico, one of China’s main export rerouting channels.

That may prompt China to shift exports to ASEAN and Latin American countries, while boosting trade ties with these nations to help offset “a more protectionist U.S.,” Song added.

By CNBC

CallTower and Five9 Announce Global Select Resale Partnership

BusinessMagazine — Mon, 03 Feb 2025 08:05:00 +0000

CallTower and Five9 to deliver seamless collaboration and customer experiences with Operator Connect for Microsoft Teams and leading contact center software

SALT LAKE CITY, UT, ROCHESTER, NY, MONTREAL, QC, LONDON, Feb. 03, 2025 (GLOBE NEWSWIRE) — CallTower, a global leader in delivering unified communications, contact center, and collaboration solutions, including Microsoft Teams, Webex by Cisco, and Zoom, is proud to announce an innovative resale Partnership with Five9, a leading provider of cloud contact center solutions. This partnership is designed to bring a seamless integration of CallTower’s Operator Connect for Microsoft Teams offering with Five9’s cutting-edge contact center platform, setting a new standard in Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS) solution.

Through this collaboration, businesses will benefit from a turnkey solution that integrates Five9’s world-class contact center capabilities with CallTower’s Operator Connect for Microsoft Teams offering delivered by Five9. Customers can expect to experience unparalleled communication, featuring bi-directional presence capabilities, real-time collaboration, and unified reporting under a single vendor.

“This partnership with Five9 is an important milestone in our commitment to delivering advanced communication solutions. By combining our Operator Connect solution with Five9’s intelligent CX platform, we’re providing businesses with the tools they need to enhance both customer and employee experiences in meaningful ways,” said Doug Larsen, CallTower Senior Vice President of Product and Software Development.

William Rubio, CallTower Chief Revenue Officer, emphasized the market impact: “The synergy between CallTower and Five9 creates an opportunity for businesses to simplify their communications stack. This partnership positions us to drive innovation while meeting the evolving needs of enterprises globally combining Microsoft Teams Operator Connect with Five9’s robust CX platform.”

Jake Butterbaugh, SVP of Five9 Global Partner Organization, echoed, “Our collaboration with CallTower enhances our ability to deliver a fully unified solution that meets the demands of modern businesses. By leveraging Five9’s AI and automation capabilities alongside CallTower’s Operator Connect services, we can provide organizations with the tools they need to thrive in today’s competitive landscape.”

This partnership emphasizes both companies’ commitment to innovation and customer success. With plans to expand connectivity to new geographies and offer targeted training for integration, CallTower and Five9 are poised to redefine the communication technology landscape.

About CallTower

Transforming how we connect across the globe! Dive into the future of global communication with CallTower, where the forefront of innovation meets the vast expanse of connectivity. CallTower is revolutionizing communications through cutting-edge technology. CallTower delivers seamless MS Teams, Zoom, and Webex voice solutions elevated by the integration of AI technology, comprehensive contact center solutions and one-click failover, marking a significant milestone in the communication landscape.

Since its establishment in 2002, CallTower has evolved into a global cloud-based, enterprise-class cloud communications (unified communications, contact center and collaboration) solutions provider, catering to the needs of expanding businesses globally. CallTower offers and supports cutting-edge solutions such as Operator Connect for Microsoft® Teams, MS Teams Direct Routing, GCC High Teams Direct Routing, Microsoft® 365, Cisco® Webex Calling / UCM, Cisco® CCP, Zoom Phone, Zoom (BYOB), and a range of contact center options, including Five9 for business customers.

For more information about CallTower and its award-winning services, please contact marketing@calltower.com

CONTACT: Kade Herbert CallTower, Inc. 8003475444 marketing@calltower.com

M0.0NSHOT Zero, the world’s first net zero carbon shoe, pushes the boundaries of sustainable footwear

BusinessMagazine — Mon, 03 Feb 2025 08:01:00 +0000

Available to buy for the first time, the style combines Allbirds’ minimalist design principles with regenerative farming practices to achieve a landmark footprint

SAN FRANCISCO, Feb. 03, 2025 (GLOBE NEWSWIRE) — The future of footwear is here. Beginning February 6, shoppers can finally get their hands–and feet–on Allbirds’ M0.0NSHOT Zero, the highly anticipated world’s first net zero carbon shoe*. It combines cutting-edge ingenuity with age-old agricultural practices by harnessing the power of carbon-negative materials, such as regenerative wool.

With a limited edition run of 500 pairs, M0.0NSHOT Zero will be available to buy for the first time in select cities including New York, London, Dubai, Tokyo, and Seoul. A groundbreaking innovation in sustainable footwear, each pair is labeled with its unique production number–out of 500–to signify their rare nature and this historic achievement.

M0.0NSHOT Zero is a testament to the meticulous work Allbirds has done over the past decade to systematically reduce the climate impact of its products. In both sustainability and design, the product pushes beyond any of the brand’s previous creations. As much as M0.0NSHOT Zero is a feat of science and innovation, it is equally–if not more so–a story about returning to the root of creation: nature. That’s largely thanks to carbon-negative, regenerative wool. The material reversed a fundamental principle of sustainable design: instead of constantly trying to reduce, Allbirds’ design team was instead encouraged to utilize a greater share of the wool to lower the style’s carbon footprint.

“M0.0NSHOT Zero is the ultimate pursuit of product purity, stripping away everything superfluous to allow the wool to be the hero,” said Jamie McLellan, designer, Allbirds. “We needed to find ways to use more regenerative wool to help us counter other more stubborn parts of the carbon equation. As a result, we used wool to wrap the entirety of the upper and the midsole, giving the shoe a modern and monolithic look that feels fitting for footwear of the future.”

The carbon-negative, regenerative wool is exclusively sourced from New Zealand’s Lake Hawea Station (LHS), a farm that sequesters more carbon than it emits due to regenerative practices like native plantings, protecting large areas of regenerating forest, new pasture species, and more. LHS is among the leaders in the movement to return to regenerative growing techniques used for many millennia, working in harmony with nature to improve human, animal and environmental outcomes.

“As we imagine and bring to life a more sustainable future, there is an enormous creative opportunity to develop and express an entirely new design language,” said Tim Brown, Co-Founder, Allbirds. “M0.0NSHOT Zero is just the first step, and we believe we have only scratched the surface of what is possible when we tangibly commit to making things better, today.”

For brands looking for help or resources to follow suit, Allbirds published an open-sourced, free for the taking toolkit that uncovers key innovations that made this milestone possible. It details leading-edge methodologies and materials like bio-based midsole foam; methane-capture bioplastic; sugarcane-derived, carbon-negative Green PE packaging; and more. The toolkit is available on the Allbirds website for anyone to download – and, hopefully, implement.

“We’re incredibly proud to bring M0.0NSHOT Zero to market, but we also recognize that hard work is still ahead for all of us to ensure this world’s first is not the world’s last,” said Aileen Lerch, Director of Sustainability, Allbirds. “We see a real opportunity for the fashion industry to be an engine for innovation and inspiration in the climate fight. Solutions exist today, many of them all around us in the natural world, if we would step boldly into the pursuit of progress over perfection at scale.”

M0.0NSHOT Zero is the result of Allbirds’ unwavering commitment to making better things in a better way. The project began in 2022, when Allbirds’ teams set their sights on creating a net zero carbon shoe – a moonshot goal, especially when compared to the footprint of an industry average sneaker (14 kg CO₂e, based on Allbirds’ estimates). This landmark achievement demanded meticulous design and research across materials, manufacturing and transportation. After more than a year of detailed development and dozens of iterations, Allbirds unveiled its first prototype in 2023, and began work to bring it to market.

How to shop
M0.0NSHOT Zero will be sold exclusively in-store in five cities, beginning first with stores in New York and London. Consumers can shop M0.0NSHOT Zero in:

New York: February 6 at Allbirds SoHo
London: February 6 at Allbirds Covent Garden and Selfridges
Dubai: February 7 at Allbirds Dubai Mall
Seoul: April 1 at Allbirds Parnas Mall Store
Tokyo: Spring 2025 at Allbirds Marunouchi

M0.0NSHOT Zero is available in sizes Unisex 6-11** for $200 USD.
**U6 (M6/W7.5), U7 (M7/W8.5), U8 (M8/W9.5), U9 (M9/W10.5), U10 (M10/W11.5), U11 (M11/W12.5)

To learn more about M0.0NSHOT and see the toolkit, visit: www.allbirds.com/moonshot

*About M0.0NSHOT’s product carbon footprint calculation:
Here’s how we account for net zero:

First, we started by working with The New Zealand Merino Company’s regenerative wool program, ZQRX, to source M0.0NSHOT’s wool from Lake Hawea Station.
Second, we calculated the specific farm-level carbon footprint of Lake Hawea Station. The organizational carbon footprint that forms the starting point for the allocation was developed independently of this project and verified by Toitū Envirocare, a New Zealand-based B Corp and carbon certification business.
Then, we collaborated with The New Zealand Merino Company to translate this farm footprint into a product-level wool material carbon intensity for M0.0NSHOT.
This new wool carbon intensity is used to calculate the product’s carbon footprint using the Allbirds Life Cycle Assessment (LCA) Tool, with modifications. The initial Allbirds LCA Tool was third-party verified against the requirements of ISO 14067, which specifies principles, requirements and guidelines for calculating the carbon footprint of a product.
The carbon footprint of M0.0NSHOT accounts for on-farm carbon sequestration, in addition to emissions, which is a deviation from standard industry practice. As a result, the calculated carbon footprint for M0.0NSHOT, unlike Allbirds’ standard products, is not fully aligned to ISO 14067.
However, Allbirds believes this wool carbon intensity value captures a more comprehensive model of the total emissions fluxes happening on-farm.

About Allbirds, Inc.
Based in San Francisco, with its roots in New Zealand, Allbirds launched in 2016 with a single shoe: the now iconic Wool Runner. In the years since, Allbirds has sold millions of pairs of shoes, and has maintained its commitment to incredible comfort, versatile style and unmatched quality. This is made possible with materials like Allbirds’s sugarcane-based midsole technology, SweetFoam, and textiles made with tree fibers and Merino wool – so consumers don’t have to compromise between the best products and their impact on the earth. www.allbirds.com

Contact
press@allbirds.com

Traffic Accidents Drop Significantly During 2025 Lunar New Year Compared to 2024

BusinessMagazine — Mon, 03 Feb 2025 07:29:17 +0000

The number of traffic accidents during the 2025 Lunar New Year holiday saw a significant decrease of 258 cases compared to the previous year, reflecting a remarkable improvement in road safety. According to the Traffic Police Department, the 9-day holiday period was well-managed, with no major or prolonged traffic congestion reported.

On the afternoon of February 2, 2025, the Traffic Police Department under the Ministry of Public Security announced that from January 25 to February 2, a total of 445 traffic accidents occurred nationwide. These incidents resulted in 209 fatalities and 373 injuries.

Compared to the 2024 Lunar New Year holiday, traffic accidents dropped by 36.69% (258 fewer cases), fatalities decreased by 37.61% (126 fewer deaths), and injuries were reduced by 38.34% (232 fewer cases).

Road accidents: 442 cases, leading to 207 deaths and 372 injuries.
Railway accidents: 2 cases, causing 1 death and 1 injury.
Waterway accident: 1 case, resulting in 1 fatality.

Despite an increase in traffic volume before and after the holiday, particularly at major gateways to Hanoi, Ho Chi Minh City, and key routes such as expressways and Rach Mieu Bridge (connecting Tien Giang and Ben Tre provinces), traffic police effectively managed congestion through proactive traffic flow regulation, preventing severe blockages.

Enhanced Traffic Safety Enforcement During the Holiday

To ensure traffic safety and maintain order, the Traffic Police force deployed 25,556 working groups, conducted 32,783 patrols, and mobilized 137,511 officers and soldiers. As a result:

55,842 violations were detected and penalized.
17,149 cases involved alcohol-related violations.
13,296 cases involved speeding violations.
88 cases involved drug-related violations.
174 cases involved overloaded vehicles.
Authorities revoked 2,985 driving licenses or professional certificates and deducted points from 7,035 licenses.
428 cars and 20,782 motorbikes were temporarily seized.

Notable Improvement in Traffic Safety

Compared to Tet 2024, traffic safety measures significantly improved, contributing to a substantial reduction in accidents, fatalities, and injuries. The proactive approach of law enforcement, along with stricter enforcement of traffic regulations, played a key role in enhancing road safety during this festive period.

Source: Vietnam Insider

DeepSeek’s AI Development Costs Estimated at $1.6 Billion, Far Exceeding Official Figures

BusinessMagazine — Mon, 03 Feb 2025 05:31:40 +0000

DeepSeek’s actual expenditure on developing its AI models is estimated to be around $1.6 billion, a stark contrast to the $5.6 million figure the company has publicly claimed.

The True Cost of DeepSeek’s AI Infrastructure

According to an analysis by SemiAnalysis, a leading semiconductor and AI market research firm, DeepSeek’s hardware investment alone exceeds $500 million. Beyond that, the computational costs of generating synthetic training data are substantial, making the company’s stated training budget of $5.6 million misleading. That figure only accounts for the formal training phase, excluding key expenses such as research, development, data preparation, hardware maintenance, and operational costs.

“Our analysis suggests that the total server capital expenditure could be around $1.6 billion, with a significant $944 million allocated to operational costs for these AI clusters,” SemiAnalysis stated. “In addition to training, DeepSeek needs to test new architectures, collect and clean vast amounts of data, and pay its employees—all of which require significant funding.”

DeepSeek’s GPU Power and High-Flyer’s Involvement

SemiAnalysis further revealed that DeepSeek has likely used around 10,000 Nvidia H800 GPUs—restricted under U.S. export regulations to China—as well as an additional 10,000 H100 GPUs. The company is also believed to have incorporated H20 GPUs into its training process.

“These GPUs are shared between High-Flyer, the investment fund that owns DeepSeek, and the AI company itself. They are geographically distributed and utilized for multiple purposes, including high-frequency trading, inference, training, and AI research,” the report noted.

DeepSeek has been aggressively recruiting AI talent, offering salaries exceeding $1.3 million per year for top candidates—far surpassing compensation offered by major Chinese tech firms and global AI labs like Moonshot. The company has also held recruitment events at top universities across China, emphasizing ‘unlimited access to 10,000 GPUs’ in its hiring pitches.

DeepSeek’s Cost-Optimization Strategy and Industry Reactions

Despite the high estimated costs, SemiAnalysis emphasized that DeepSeek is highly efficient in cost optimization. “DeepSeek R1 is an exceptional model that has reached the cutting edge of AI reasoning at an astonishing speed,” the firm noted.

However, the discrepancy in cost figures has sparked debates. DeepSeek has not publicly addressed these claims, nor has it provided an official estimate beyond the $5.576 million figure, which was attributed to renting AI servers and the formal training process. This number excludes expenses related to model architecture experimentation, algorithm research, and large-scale data processing.

Yann LeCun, Chief AI Scientist at Meta, weighed in on the controversy, stating that many misunderstand AI infrastructure costs. He clarified that while AI development requires significant investments, much of the billions spent by U.S. firms goes toward AI inference rather than training.

“There is a big misunderstanding about AI infrastructure investment,” LeCun wrote on Threads last week. “The majority of the billions spent are for running AI assistants at scale, not just for training. As AI systems expand their capabilities—handling video understanding, reasoning, and massive storage—the cost of inference rises significantly. The market reaction to DeepSeek’s cost claims is therefore misplaced.”

Thomas Sohmers, CEO of AI hardware startup Positron, echoed LeCun’s view. “Inference spending will soon outpace training costs as demand for AI services grows exponentially,” he told Business Insider.

Scale AI CEO’s Bold Claims on DeepSeek’s GPU Stockpile

Meanwhile, Alexandr Wang, CEO of Scale AI, told CNBC that he has inside information suggesting DeepSeek owns 50,000 Nvidia H100 GPUs. Due to U.S. export restrictions, DeepSeek cannot publicly disclose this, he claimed.

Elon Musk, founder of xAI and a close ally of former U.S. President Donald Trump, added: “It’s obvious.”

DeepSeek’s AI Training Strategy: The Role of ‘Distillation’

To reduce training costs, DeepSeek is reportedly using an optimization technique called ‘distillation’. This method involves using a larger AI model’s outputs to train a smaller model, which helps maintain performance while significantly lowering computational costs.

OpenAI recently told the Financial Times (FT) on January 29 that it suspected DeepSeek had leveraged distillation techniques to cut costs.

DeepSeek’s Ownership and Future Direction

Founded in May 2023 by Liang Wenfeng, DeepSeek is based in Hangzhou, Zhejiang and is fully owned by High-Flyer, a major investment fund. Unlike many AI startups that seek external funding, DeepSeek has no plans to raise capital, instead focusing on building its core AI technology and proprietary infrastructure.

While DeepSeek has achieved remarkable cost efficiency in AI model training, its claim of spending just $5.6 million is widely disputed. The actual cost—estimated at $1.6 billion—suggests the company has a far more extensive AI infrastructure than it publicly acknowledges. As the AI race intensifies, DeepSeek’s financial transparency and strategic choices will likely remain under scrutiny.

Billionaire Pham Nhat Vuong’s technology game last year: Establishing 2 trillion-dollar ‘twin’ robotics companies, separating VinAI to prepare for capital sale?

BusinessMagazine — Mon, 03 Feb 2025 04:18:01 +0000

In the year of the Dragon, Vingroup Corporation (stock code: VIC) and billionaire Pham Nhat Vuong had…

The post Billionaire Pham Nhat Vuong’s technology game last year: Establishing 2 trillion-dollar ‘twin’ robotics companies, separating VinAI to prepare for capital sale? appeared first on Vietnam Insider.

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DeepSeek’s AI Development Costs Estimated at $1.6 Billion, Far Exceeding Official Figures

The True Cost of DeepSeek’s AI Infrastructure

DeepSeek’s GPU Power and High-Flyer’s Involvement

DeepSeek’s Cost-Optimization Strategy and Industry Reactions

Scale AI CEO’s Bold Claims on DeepSeek’s GPU Stockpile

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Billionaire Pham Nhat Vuong’s technology game last year: Establishing 2 trillion-dollar ‘twin’ robotics companies, separating VinAI to prepare for capital sale?