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Corporate Responsibility

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TSLA

The weekend news featured significant developments in the tech and finance sectors. Elon Musk and Bill Gates were named as potential buyers for Trump's Mar-a-Lago, with a price tag of up to $1 billion. Galaxy Digital CEO Mike Novogratz expressed a bullish outlook on Bitcoin, anticipating a price surge due to various factors including a potential spot Bitcoin ETF approval. Bill Ackman revealed a $10M investment in Elon Musk's private company, X. A Swedish strike could impact Tesla's labor relations, and Tesla warned that the EV tax credit for two Model 3 versions will drop to $3,750 next year.

Portfolio Pulse from Benzinga Neuro

December 04, 2023 | 10:15 am

HTZ

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TSLA

Europe's largest car rental company, Sixt SE, is reducing the number of Tesla Inc vehicles in its fleet due to higher repair costs and lower resale values, similar to concerns previously raised by Hertz Global Holdings Inc. Sixt still plans to electrify 90% of its European fleet by the end of the decade. Hertz, which had aimed for 25% of its fleet to be electric by 2024, is now considering purchasing EVs from other manufacturers with more established part supply networks and lower price points.

Portfolio Pulse from Anan Ashraf

December 04, 2023 | 9:53 am

SPOT

Spotify (NYSE:SPOT) CEO Daniel Ek announced a workforce reduction of 17% as part of a major restructuring plan. The decision is aimed at aligning the company with future goals and creating a sustainable business model in a challenging economic environment. Despite efforts to reduce costs over the past year, Ek emphasized the necessity of becoming leaner to bridge the gap between financial aspirations and operational costs. Affected employees will receive severance pay, accrued vacation payout, healthcare coverage, immigration support, and career services.

Portfolio Pulse from Benzinga Neuro

December 04, 2023 | 8:27 am

MSFT

Bill Gates, co-founder of Microsoft (NASDAQ:MSFT), credits his love for reading as a pivotal factor in his transition from technology to philanthropy. On the 'What Now? With Trevor Noah' podcast, Gates shared how reading about global health challenges inspired him to focus on philanthropy after stepping down from Microsoft. The Bill and Melinda Gates Foundation, established in 2000, has since contributed $53.8 billion to combat health crises, reducing the under-five child mortality rate by half.

Portfolio Pulse from Benzinga Neuro

December 04, 2023 | 7:15 am

BYDDF

BYD Co Ltd (OTC:BYDDF) has made its reward program for exposing smear campaigns a permanent policy, offering up to 5 million yuan ($700,918) for information leading to the identification of such activities. Initially a one-year measure started in late 2021, the program aims to protect the company's reputation by combating false information and has been extended indefinitely without a stated reason. BYD, supported by Warren Buffett, has previously taken legal action against defamation, including a lawsuit against an auto blogger in July 2023.

Portfolio Pulse from Benzinga Neuro

December 04, 2023 | 7:10 am

FEAM

5E Advanced Materials has extended its standstill agreement with its primary lender until December 6, providing the company with more time to negotiate or restructure its debt obligations.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 6:50 am

EQT

EQT Corporation has joined the Oil and Gas Decarbonization Charter at COP28, signaling its commitment to climate action in the energy sector. This move aligns with global efforts to reduce carbon emissions and may influence the company's operations and strategies going forward.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 6:42 am

KD

MSFT

Kyndryl, in partnership with Microsoft, has published the results of the Global Sustainability Barometer Study, which assesses the current state of sustainability efforts worldwide.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 6:28 am

DOGE-USD

TWTR

Elon Musk praised the Community Notes feature on his social media platform, X (formerly Twitter), as the 'best source of truth' after it flagged a post by President Joe Biden about inflation and the economy. The flagged post was shared by DogeDesigner, a graphic designer at Dogecoin. Musk has been a proponent of Community Notes as a tool against misinformation. The feature had previously come under scrutiny for erroneously flagging a video shared by Donald Trump Jr.

Portfolio Pulse from Ananya Gairola

December 04, 2023 | 4:48 am

TSLA

Elon Musk, CEO of Tesla Inc, reacted to a CGI video featuring a gun-wielding Optimus robot, stating 'We could make it real, but that would be scary.' The video was not real and was created by the YouTube channel SoKrispyMedia. Musk had previously shown appreciation for the video but later expressed concerns about making such a robot. Updates on the actual Tesla Optimus bot were not provided during the last earnings call, but Musk had mentioned in July that the first Tesla-designed Optimus would be walking by November and could be useful in Tesla factories sometime next year.

Portfolio Pulse from Anan Ashraf

December 04, 2023 | 3:16 am