Streetbeat News

Corporate Responsibility

TSM

Taiwan Semiconductor Manufacturing Co. (TSMC) announced that Chairman Mark Liu will not seek re-nomination to the TSMC board and will retire after the 2024 Annual Shareholders Meeting. C.C. Wei is set to succeed him as Chairman, pending the election of the new board in June 2024.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 10:50 am

GM

General Motors Co (NYSE:GM) CEO Mary Barra clarified in an interview that GM does not produce the pink Corvette featured in the 'Barbie' movie. She reminisced about her own childhood toy Corvette, which was yellow. Barra expressed her fondness for the Hummer EV and is looking forward to the launch of the Equinox EV next year. The Hummer EV has gained attention, including a test drive by President Joe Biden.

Portfolio Pulse from Anan Ashraf

December 19, 2023 | 10:32 am

DADA

Dada Nexus has announced the immediate resignation of Lijun Xin as Chairman of the Board and member of the Nominating and Corporate Governance Committee. Ian Su Shan will take over the roles previously held by Mr. Xin.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 10:24 am

MSFT

OpenAI has introduced a 'Preparedness Framework' that allows its board of directors to veto decisions made by the leadership, including CEO Sam Altman. The framework focuses on AI safety, dividing responsibilities among three groups: Safety Systems, Preparedness, and Superalignment. The board's veto power acts as a failsafe against decisions that may compromise the company or stakeholders. The framework is still in 'beta' and will be refined over time. This change follows a recent event where Altman was briefly fired by the board and then reinstated after employee backlash.

Portfolio Pulse from Rounak Jain

December 19, 2023 | 8:53 am

GOOG

GOOGL

Google, a subsidiary of Alphabet Inc., has agreed to a $700 million settlement in an antitrust case and will revise its Play Store policies to foster competition. The settlement includes a $630 million consumer fund and a $70 million state fund, covering purchases on Google Play from Aug. 16, 2016, to Sept. 30, 2023. Google has not admitted wrongdoing but will make it easier for users to download apps directly from developers and offer alternative in-app billing options. This follows a recent victory by Epic Games in a lawsuit against Google, which found parts of Google's app business anti-competitive.

Portfolio Pulse from Benzinga Neuro

December 19, 2023 | 7:32 am

RHHBY

Roche's navify digital solutions, including navify Tumor Board, navify POC Operations, and navify Lab Operations, have received excellent ratings from healthcare professionals according to KLAS Research. The solutions are praised for improving tumor board meetings, enhancing point-of-care device management, and automating lab processes, with 100% of professionals indicating they would repurchase.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 7:06 am

AAPL

A bipartisan group of US senators and representatives have requested the DOJ to investigate Apple Inc. (NASDAQ:AAPL) for potential antitrust violations in its dealings with messaging app Beeper Mini. Lawmakers, including Senators Amy Klobuchar and Mike Lee, as well as Representatives Jerry Nadler and Ken Buck, have expressed concerns over Apple's alleged anti-competitive behavior, particularly after the tech giant shut down Beeper Mini's 'iMessage for Android' app on December 9, leading to an outage. The app was later restored with some limitations. The DOJ investigation could have significant implications for Apple and the broader tech industry.

Portfolio Pulse from Rounak Jain

December 19, 2023 | 6:49 am

GORO

UBER

Uber Eats has partnered with Gogoro to launch a $30 million Green Delivery Program in Taiwan. The two-year initiative aims to double the percentage of EV deliveries from 20% to 40% by the end of 2025. Delivery partners will benefit from discounts on Gogoro Smartscooters and battery swapping programs, as well as incentives for using these EVs for deliveries.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:46 am

BTCUSD

MSTR

Michael Saylor, MicroStrategy's Executive Chairman, expressed confidence in Bitcoin's future, predicting its value could reach a million dollars if it doesn't go to zero. He cited global inflation as a key driver for BTC adoption and welcomed new FASB rules for cryptocurrency accounting. MicroStrategy, which began investing in Bitcoin in August 2020, holds 174,530 BTC with an average purchase price of $30,252 each. BTC's price has risen 56% since early October and was trading at $42,926 at the time of the article.

Portfolio Pulse from Mehab Qureshi

December 19, 2023 | 6:23 am

GIL

Anson Funds, significant shareholders of Gildan Activewear Inc. (NYSE:GIL), are calling for the immediate reinstatement of Glenn Chamandy as CEO. They express concern over the Board's poor handling of succession planning and a backroom deal made with an individual shareholder for board support. Anson Funds criticizes the Board for not engaging with other investors and for spreading false accusations about Chamandy, particularly regarding M&A. They argue that the current CEO, Vince Tyra, lacks the necessary skills for the company's growth.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:08 am