Tagged: company

X, formerly known as Twitter, hit with trademark lawsuit from marketing agency

X Corp, formerly known as Twitter, was sued in federal court in Florida on Monday by a legal-marketing company that claims the social media giant’s new name infringes its trademark incorporating the letter “X.”

The lawsuit by X Social Media claims that X Corp, which owner Elon Musk began rebranding to X from Twitter in July, was likely to cause consumer confusion.

The case appears to be the first of what could be numerous trademark disputes with Musk’s company over the letter “X,” which is commonly used in tech branding.

“X” is included in hundreds of federal trademarks owned by companies including Microsoft MSFT-Q and Meta Platforms. X Corp applied for its own U.S. trademarks covering the letter last month.

X Corp did not immediately respond to a request for comment on the complaint. X Social Media declined to comment.

Windermere, Florida-based X Social Media is an ad agency focused on mass-tort litigation. Its website says that Jacob and Roseanna Malherbe founded the agency in 2015 to connect Florida panhandle residents with attorneys in the wake of the Deepwater Horizon oil spill in the Gulf of Mexico.

The lawsuit said the agency has used the “X Social Media” name since 2016 and owns a federal trademark covering it. It said it has invested more than $400 million in Facebook advertising to reach potential clients.

The company said Twitter’s rebrand has already confused customers and caused it to lose revenue.

“In a short time, X Corp has wielded its social media clout, marketing resources, and overall national notoriety to dominate consumer perception of its ‘X’ mark,” the lawsuit said.

X Social Media asked the court to force Musk’s company to stop using the “X” name and requested an unspecified amount of money damages.

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EV maker Rivian shares have record drop after convertible bond offering launched

By Chibuike Oguh and Abhirup Roy

NEW YORK (Reuters) -Shares of Rivian Automotive Inc fell by nearly 23% on Thursday, the biggest daily percentage decline since their debut in 2021, after the electric vehicle maker unveiled plans to issue $1.5 billion worth of convertible green bonds.

Irvine, California-based Rivian expects the bonds, which mature in October 2030 and can be converted to either cash or its shares, will help it to “de-risk” the launch of its R2 sports utility vehicle in Georgia, a company spokesperson told Reuters on Wednesday.

It is the second time in less than a year that Rivian is issuing such a green bond, which raises capital from investors seeking to back climate-focused projects. The company had issued a $1.3 billion convertible green bond in March to support the launch of its smaller R2 vehicle family.

Rivian’s shares fell by 22.9% to close at $18.27, a three-month low. The stock, which is down about 1% year-to-date, has now dropped 77% from its initial public offering price of $78 in November 2021.

“The raise came earlier than expected,” said Elliot Johnson, chief investment officer at Evolve ETFs, which manages over $5.2 billion in assets, including investments in EV startups such as Rivian.

“So, shipping the same number of cars, earnings are in line, they’re raising cash earlier than people thought and the cash flow could be dilutive – I think that’s a concern because it’s still seen as a speculative business,” Johnson added.

Rivian, which is backed by e-commerce giant Amazon (NASDAQ:), has been burning through cash to ramp up production and keep up with market leader Tesla (NASDAQ:) Inc, which has slashed prices. The company beat estimates in the third quarter by producing 16,304 vehicles and delivering 15,564 vehicles to customers.

It said on Monday it was

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HP dials back profit expectations on PC market slump, China weakness

By Zaheer Kachwala

(Reuters) -HP Inc tempered expectations for annual profit on Tuesday, as it grapples with a more than a year-long slump in the personal computers segment and sluggish demand in key market China.

Shares of the Palo Alto, California-based company fell 5.2% in after-market trading.

Inflation and an uncertain global economy triggered a decline in demand for consumer electronics including PCs last year, and led to increased inventory across the supply chain.

“While we expect another quarter of sequential growth in the fourth quarter, the external environment has not improved as quickly as anticipated and we are moderating our expectations as a result,” said HP’s CEO Enrique Lores.

PC shipments including desktops, notebooks and workstations to China have dropped 19% in the past few months as the region remains cautious about spending on IT, according to analysis firm Canalys.

“We don’t see it (a recovery in China) happening anytime soon. And at this point, we are not building that recovery in any of our plans,” Lores added.

HP now forecasts adjusted earnings per share to be in the range of $3.23 to $3.35 from earlier expectations of $3.30 to $3.50.

The company‘s third-quarter revenue dropped 9.9% to $13.20 billion compared with analysts’ estimates of $13.37 billion, according to Refinitiv data.

However, a focus on controlling costs helped the PC maker report adjusted earnings per share of 86 cents, in line with analysts’ estimates.

Total costs and expenses also fell 8.6% from a year earlier.

The company remains on track to deliver 40% of its three-year cost savings target by the end of the fiscal year.

(Reporting by Zaheer Kachwala in Bengaluru; Editing by Krishna Chandra Eluri)

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Agile Cold Storage Selects Delaware Site For $170M Facility

A Georgia-based company will bring 130 new jobs to Claymont, Delaware, and invest more than $170 million over five years.

Agile Cold Storage plans to build a 275,000-square-foot cold-storage facility in the New Castle County city as it meets demand from North American food manufacturers, processors, and growers.

The project also will bring investment and industry to Claymont – a community still affected by past industrial closings – and support business at the Port of Wilmington and future operations at the proposed port expansion at Edgemoor.

Agile Cold Storage
Agile Cold Storage rendering of Claymont, Delaware, facility. (Photo: Agile Cold Storage)

Delaware Prosperity Partnership has worked with Agile Cold over the past year, and in late August supported Agile Cold’s request for Jobs Performance and Capital Expenditures grants from the Council on Development Finance. The grants provide up to $510,500 and $4.05 million, respectively, from the Delaware Strategic Fund.

Distribution of these grants is dependent upon the company meeting commitments as outlined to the CDF, which reviewed and approved Agile Cold’s request.

The company’s Agile Cold Claymont division will locate in First State Crossing, a brownfield property that previously was a steel mill, along Naamans Road. Employment opportunities will be available at the management and supervisor level, along with general laborers, forklift operators, inventory control, customer service and maintenance. More jobs could also become available through partner service providers.

Agile Cold specializes in blast freezing, layer/case picking, cross docking, export services, tempering and e-commerce and offers automation in warehouse receiving, storage and shipping and a multi-temperature storage network suitable for a wide variety of inventory.

The company, which was founded in 2020, operates two facilities in the Metro Atlanta area and is planning a third in Macon. Adding an automated multi-temperature warehouse in Delaware will allow Agile Cold to expand into the

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Company announces major expansion into new Cambridgeshire site

23 jobs will be created when plastics recycling <a href=company MBA Polymers UK opens its new site in Wimblington, Cambridgeshire, in September. <i>(Image: MBA Polymers UK)</i>” bad-src=”https://s.yimg.com/ny/api/res/1.2/itOow3yyGXjw97CKKXaLPQ–/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MA–/https://media.zenfs.com/en/cambs_times_451/c7033319d622e89af2485c73bc25f0cb” src=”https://s.yimg.com/ny/api/res/1.2/itOow3yyGXjw97CKKXaLPQ–/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MA–/https://media.zenfs.com/en/cambs_times_451/c7033319d622e89af2485c73bc25f0cb”/

23 jobs will be created when plastics recycling company MBA Polymers UK opens its new site in Wimblington, Cambridgeshire, in September. (Image: MBA Polymers UK)

23 jobs will be created when a recycling company which has diverted more than 250,000 tonnes of plastic waste from landfill opens its new site in Wimblington.

The new building, which opens in September, is said to help “accelerate the company’s ability to produce 100,000 tonnes of recycled plastics for its customers by 2030″.

The company, which has been operating for over 10 years, delivers sustainable recycled plastics with carbon savings up to 85%.

Paul Mayhew, general manager at MBA Polymers UK, said: “We are delighted to announce our new facility in Cambridgeshire as the next exciting chapter in MBA Polymers UK’s story.

“Manufacturers know all too well that changes in regulations, consumer behaviour and the impact on the environment, means that increasing recycled content of products and creating circular products is now essential.

“The establishment of our fourth facility will significantly amplify our recycling capacities by 35%, diverting tonnes of plastics waste from landfill and providing high-quality recycled polymers back into the circular economy.

“We are dedicated to working with our customers to help them reach their sustainability goals, whilst keeping our carbon footprint to a minimum, in line with our ambitious commitment to become a net-zero business by 2040.”

MBA Polymers UK supplies a range of durable plastics, including recycled polypropene (rPP), polyethylene (rPE), polystyrene (rPS), and ABS to sectors such as electronics, vehicle manufacturing, and logistics management.

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High Quality HDPE/PE Fire Retardant/Resistant, Flame Resistance Windbreak/Sell Well at Home and Abroad /Debris/Safety/Construction Nets


Building Safety Net(Also called Construction Net, Debris Net, Scaffolding Net) is used in various construction sites, especially high-rise buildings, can be fully enclosed construction. It can effectively prevent the injury of person and objects from falling, prevent the fire caused by electric welding sparks, reduce noise and dust pollution, achieve the effect of civilized construction, protect the environment and beautify the city.

Item Name Safety Net, Building Construction Net, Scaffold Net, Debris Net
Density 50-300GSM
Weaving Warp-Knitted 
Needles 7-9 Needles
Feature Fire Resistant or Without 
Size Roll: 2m*50m, 3m*50m, 4m*50m, etc
Piece: 1.8m*5.1m, 1.8*5.8m, 1.8m*6m, 1.8m*20.4m, etc
Color Green, Blue, Orange, Red, Yellow, Grey, Black, White, etc
Packing 1 Roll/Polybag or Woven Bag;  Several PCS/Woven Bag

There’s always one for you

Company Profile

SUNTEN is an integrated company founded in 2005 for manufacturing and selling plastic products (Net, Rope, Woven & Non-Woven Fabric) in Shandong, China. After years of customers’ support, through steady growth, SUNTEN now is one of the biggest Net & Rope factory with more than 10,000 SQM workshop in Northern Part of China. The company has established extensive business cooperation with more than 142 countries and regions around the world, which including Europe, America, Southeast Asia, South America, Middle East and other markets. The company has a series of advanced equipment to make sure high-quality products and high-efficiency production.

SUNTEN Certificate

SUNTEN aim to become the most reliable supplier and partner for each of customers with strict quality control in every production stage. Welcome new and regular customers contact us for friendly and successful cooperation!

SUNTEN Warehoue & Workshop 


1. Q: Waht’s the Trade Term if we Purchse? 
    A: FOB, CFR, CIF, DDP(Door To Door), EXW Available
2. Q: What’s the MOQ? 
    A: If for our Stock,

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EV-maker VinFast’s valuation touches $191 billion as shares surge 700%

EV-maker VinFast’s valuation touches $191 billion as shares surge 700%


August 29, 2023 | 11:29 am
2 min read

VinFast’s market capitalization is only behind Tesla and Toyota (Photo credit: VinFast)

Vietnamese electric vehicle (EV) manufacturer VinFast has seen a remarkable surge in market value, reaching $191 billion.

It is now the third-most valuable automaker behind Tesla and Toyota. This rapid growth follows the company’s successful Wall Street debut.

Since it was listed on August 15, VinFast has gained around 700%. On Monday, the company added as much as $33 billion to its market capitalization.

VinFast’s shares are volatile due to limited public float

VinFast’s shares have either surged or declined 14% or more in 11 out of the last 12 trading sessions. The volatility is due to the limited number of publicly available shares.

The limited public float is due to the company’s structure. Phạm Nhật Vuong, Vietnam’s richest man, owns 99.7% of the automaker through parent conglomerate Vingroup.

The stock’s fluctuations have piqued the interest of retail investors on the popular website Stocktwits.

VinFast aims to sell around 50,000 vehicles this year

Despite its impressive market value, VinFast faces considerable challenges in competing with established automakers in the EV market.

The company has registered only 137 EVs in the United States through June and aims to sell up to 50,000 vehicles this year, a far cry from Tesla’s projected 1.8 million deliveries.

Vuong believes the company will break even by 2024 end. However, some think VinFast’s story is similar to EV maker Rivian, whose shares came crashing after initial highs.

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Small EV maker becomes more valuable than Ford, GM combined

An unprofitable electric vehicle maker has suddenly become the third most valuable auto manufacturer in the world, leaving the likes of General Motors and Ford in its dust.

Shares of Vietnam’s VinFast Auto have soared almost 700% since it listed in mid-August – even though it hasn’t made many cars yet, let alone turned a profit.

Here’s how VinFast suddenly became one of the world’s most valuable carmakers – and how it could come undone again.

The VF8 is the <a href=company’s first electric vehicle to be released in North America.” style=”width:100%;display:inline-block”/


The VF8 is the company’s first electric vehicle to be released in North America.

What happened?

On Aug. 15, unprofitable Vietnamese EV-maker VinFast, owned by the country’s richest man, made its debut on the Nasdaq Global Select Market index. It is now worth just under US$200 billion, more than GM and Ford combined and trailing only Tesla and Toyota among carmakers.

What caused the share price surge?

The biggest reason: scarcity. Just 1% of VinFast’s shares are available for trading. That means if a buyer snaps up a large enough chunk of those few shares, it can have an outsize effect on the stock’s overall price. It also has landed on the radar of retail traders, a cohort enamored of EV makers.

Who owns the other 99%

Regulatory filings show Pham Nhat Vuong, Vietnam’s richest man, controls 99% of the company’s outstanding shares, partly via shares held by his wife and the conglomerate Vingroup JSC.

The larger VF9 is VinFast’s next nameplate off the rank.


The larger VF9 is VinFast’s next nameplate off the rank.

Is VinFast profitable?

No – and that’s not that surprising for such a young company, particularly considering making cars is an extraordinarily capital-intensive business. According to a June regulatory filing, VinFast lost US$598.3 million in the three months through March 31, while it generated

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Our Next Energy makes LFP battery range competitive with NMC

ONE will begin producing batteries for commercial vehicles and battery storage late next year at its plant in Van Buren Township. It plans to launch the Aries II for passenger vehicles in 2025, followed by the 600-mile-range Gemini in 2026. The company expects its batteries to comply with the Inflation Reduction Act, making the buyers of vehicles that use them eligible for significant federal income tax credits.

Our Next Energy will likely build the Aries II at a second plant. Ijaz said he expects to share details on that plant this year. The company is in discussions with suppliers to co-locate on new sites to localize the battery supply chain, he said.

Iron and manganese were obvious battery material choices for the company when it was founded in 2020 because they can be mined and processed in North America, Ijaz said.

The industry “is about to birth an entire supply chain in North America. To me, it would be ideal to birth the supply chain with the right materials,” he said.

ONE and BMW partnered last year on the long-range Gemini battery to power the BMW iX. The company is in discussions with other automakers for the Aries II, Ijaz said.

Ijaz’s pitch to automakers centers on eliminating nickel and cobalt, which are expensive. Batteries using those materials are more susceptible to fire than the iron phosphate chemistry.

“We could help automotive companies achieve the same range that they’re getting today, avoiding those two risks and at a lower price,” he said. “And then we can offer a way to double that range. As we go after 600 miles of range, we are uniquely differentiated in that offering right now.”

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