Streetbeat News

Corporate Responsibility

SONY

WBD

Sony Group Corp.'s PlayStation had planned to remove Discovery content from users' libraries due to licensing issues, causing concern among consumers. However, PlayStation reversed the decision after updating their licensing arrangements with Warner Bros. Discovery Inc, ensuring access to purchased content for the next 30 months. PlayStation users have not been able to buy or rent new content since 2021, but the reversal maintains access to existing purchases.

Portfolio Pulse from Franca Quarneti

December 22, 2023 | 9:17 pm

AMC

AMC Entertainment has entered into a private exchange agreement, issuing 3,793,475 shares of Class A common stock in exchange for $27 million of its 10%/12% Cash/PIK Toggle Second Lien Subordinated Notes due 2026, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 9:16 pm

QNCX

Quince Therapeutics' board approved the mutual termination of a license agreement with Purdue Research Foundation, according to an SEC filing on December 22.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 9:14 pm

AAPL

Apple Inc. is in discussions with news publishers to secure multiyear deals, each potentially worth over $50 million, to use their news articles for training its generative AI systems. These deals are part of Apple's efforts to enhance its AI capabilities.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 8:35 pm

AAPL

The DOJ is reportedly investigating Apple Inc. (NASDAQ:AAPL) for antitrust concerns related to blocking the Beeper app, which provided Android users access to iMessage. The FTC is also examining Apple's actions. Beeper has discontinued its original app and launched Beeper Mini, but Apple closed the exploited loophole and obstructed over 60% of Beeper Mini users. Lawmakers have called for a DOJ probe, and Beeper's co-founder met with DOJ lawyers. The FTC is interested in companies that block interoperability under the guise of privacy and security.

Portfolio Pulse from Rounak Jain

December 22, 2023 | 8:20 pm

FNV

Franco-Nevada Corporation has announced its intention to pursue all appropriate legal avenues to enforce its rights and protect its investment in Panama, following disputes that may affect its interests in the country.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 6:07 pm

EWU

MSI

Motorola Solutions has expressed concerns about what it describes as 'unprecedented overreach' by the U.K. government, suggesting it could negatively affect long-term investments and contracting with the government.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 6:02 pm

AAPL

GOOG

GOOGL

NFLX

SPOT

Alphabet Inc's Google has agreed to pay $700 million to settle antitrust cases, including revamping its app store practices. Google lost a lawsuit to Epic Games, which accused it of operating an illegal monopoly. The settlement requires Google to allow developers to offer direct payment options and make it easier to download apps from sources other than the Play Store. Despite reduced fees for app creators, customers may not see lower prices. The trial revealed Google's preferential treatment to companies like Spotify and Netflix, and highlighted the need for regulation. Google faces further legal challenges regarding its search and digital ad practices.

Portfolio Pulse from Upwallstreet

December 22, 2023 | 5:14 pm

PPL

PPL Corporation (NYSE:PPL) has reached a settlement agreement with Talen Energy to pay $115 million, ending litigation related to the 2015 spinoff of PPL Energy Supply, now Talen Montana. The settlement resolves all claims, with PPL avoiding further litigation costs and uncertainty. PPL's CEO Vincent Sorgi emphasized the company's belief in having acted appropriately during the sale of Montana hydro assets and the decision to settle was made considering the risks of ongoing defense and Talen's bankruptcy, which limited PPL's financial recovery options.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 4:16 pm

EQNR

Equinor ASA (NYSE:EQNR) has transferred its assets in Azerbaijan to SOCAR, including interests in the Azeri Chirag Gunashli oil fields, the Baku-Tbilisi-Ceyhan pipeline, and the Karabagh field. This strategic move aligns with Equinor's plan to reshape its international oil and gas business and focus its portfolio. The companies also signed an MoU for low carbon solutions. EQNR shares rose by 1.03% to $31.92 following the news.

Portfolio Pulse from Akanksha Bakshi

December 22, 2023 | 3:34 pm