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Corporate Responsibility

ABNB

Wanda Dench and Jamal Hinton, known as 'Thanksgiving Grandma' and her honorary grandson, have partnered with Airbnb Inc (NASDAQ:ABNB) to host a Thanksgiving dinner, with proceeds going to Feeding America. The event includes an overnight stay at Dench's home and activities like taking selfies and playing board games. The booking is priced at $16, commemorating the start of their friendship in 2016. Their story of accidental connection has gained popularity on social media.

Portfolio Pulse from Bibhu Pattnaik

November 21, 2023 | 8:27 pm

MSFT

Microsoft is preparing for the potential arrival of OpenAI employees by readying office space and resources in LinkedIn's San Francisco offices. This follows the announcement that Sam Altman and Greg Brockman are joining Microsoft to lead a new AI research team. Despite Altman's firing from OpenAI and ongoing negotiations, Microsoft is offering OpenAI employees similar compensation to join them. The situation is still uncertain, with the possibility of Altman returning to OpenAI.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 8:10 pm

MSFT

Microsoft is preparing for the potential arrival of OpenAI employees by readying office space and resources in LinkedIn's San Francisco offices. This follows the announcement that Sam Altman and Greg Brockman are joining Microsoft to lead a new AI research team. Microsoft was surprised by Altman's firing from OpenAI but is open to him returning if the board is reconstituted. The company is setting up workspaces and providing legal and HR support for onboarding, and promises similar compensation for OpenAI employees joining Microsoft.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 8:09 pm

EIS

SPY

USO

Elon Musk announced that X Corp will donate all proceeds from advertising and subscriptions related to the War in Gaza to hospitals in Israel and the Red Cross/Crescent in Gaza.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 7:51 pm

MSFT

OpenAI is facing internal turmoil with discussions about the return of ousted co-founder Sam Altman as CEO. Employees have threatened mass resignations, and Microsoft Corp (NASDAQ:MSFT) has hired Altman and Greg Brockman for a new AI research team. Microsoft's CEO Satya Nadella has expressed openness to hiring more OpenAI staff and hinted at potential changes in governance, including a possible board seat for Microsoft.

Portfolio Pulse from Neil Dennis

November 21, 2023 | 7:49 pm

AAPL

GOOG

GOOGL

NFLX

SPOT

Epic Games' lawsuit against Google reveals that Spotify has a special deal with Google to avoid most app store commission fees. Spotify pays 0% commission if using its own payment processor and 4% otherwise, compared to the typical 15% fee. This deal was disclosed during a trial where Epic Games is challenging Google's commission fees. Google's head of partnerships, Don Harrison, justified the deal due to Spotify's popularity and its importance to Android's success. The trial also uncovered that Google considered acquiring Epic Games to prevent competition. The outcome of the trial could impact Google's app store practices and address antitrust concerns.

Portfolio Pulse from Chris Katje

November 21, 2023 | 6:38 pm

F

Ford Motor Company (NYSE:F) is scaling back its investment in the BlueOval Battery Park Michigan, reducing the number of jobs created from 2,500 to 1,700 and the annual EV production capacity from 400,000 to 230,000 vehicles. The overall investment in the plant is also being cut from $3.5 billion to approximately $2 billion. This adjustment is part of Ford's broader reduction in its EV strategy, which includes delaying $12 billion in spending on battery-powered models. The company cites slower than expected EV adoption as a reason for the re-timing and resizing of investments.

Portfolio Pulse from Nabaparna Bhattacharya

November 21, 2023 | 5:54 pm

BNBUSD

Binance CEO Changpeng Zhao is reportedly resigning and admitting guilt to U.S. anti-money laundering charges, with Binance agreeing to a $4.3 billion penalty. This settlement could secure the company's future operations. Zhao will keep his majority stake but step down from any executive role. The DOJ is expected to announce details in a briefing.

Portfolio Pulse from Murtuza Merchant

November 21, 2023 | 5:44 pm

KNSW

KnightSwan Acquisition Corporation (NYSE:KNSW) has decided to redeem all outstanding shares of Class A common stock as it will not complete an initial business combination by the set deadline. The redemption price per share is approximately $10.61. The company's securities will cease trading on the NYSE after December 5, 2023, and shares will be cancelled effective December 6, 2023. The company's warrants will expire worthless, and the sponsor has waived redemption rights for Class B common stock. The company will wind up operations after the redemption and expects to delist from the NYSE and terminate its securities registration.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 5:02 pm

BX

EBAY

eBay Inc. (NASDAQ:EBAY) has expressed support for a voluntary tender offer by Permira and Blackstone to acquire Adevinta, with eBay set to receive $2.2 billion in cash and retain a 20% stake in Adevinta. The transaction values eBay's total stake at approximately $4.3 billion, a significant premium over the pre-speculation value. eBay plans to use the cash for general corporate purposes and continue its commitment to return 125% of free cash flow to shareholders. The deal is expected to close in Q2 2024, subject to regulatory approvals and other conditions.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:50 pm