Streetbeat News

Corporate Responsibility

U

Unity's Marc Whitten has apologized for the company's new Runtime Fee policy, which was announced without sufficient community feedback. The policy aims to support the game engine's development. Changes include keeping the Unity Personal plan free with no Runtime Fee, increasing the revenue cap from $100,000 to $200,000, and removing the 'Made with Unity' splash screen requirement. Games with less than $1 million in trailing 12-month revenue will not be subject to the fee. The policy will apply from 2024 onwards, and will not affect current projects unless they are upgraded to the new Unity version.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 5:12 pm

BTCUSD

Custodia Bank CEO Caitlin Long discussed the future of Bitcoin and the role of her bank in an interview with Benzinga. Long, who has a background in traditional banking, founded Custodia Bank to bridge the gap between traditional finance and digital assets. The bank is set to launch Bitcoin custody soon. Long also highlighted the importance of security and compliance in the cryptocurrency sector. She believes that programmable money is a superior system and could benefit the financial world. Long also mentioned that the Federal Reserve is beginning to shift its stance on cryptocurrency.

Portfolio Pulse from Chris Katje

September 22, 2023 | 4:00 pm

XEL

Xcel Energy has been awarded a grant of up to $70 million from the U.S. Department of Energy (DOE) to partially fund two long duration energy storage systems in Minnesota and Colorado. The systems will be 10 megawatt/1,000 megawatt-hour iron-air batteries developed by Form Energy. The batteries will be located at the sites of two retiring Xcel Energy coal plants. The systems will allow Xcel Energy to store renewable energy such as solar and wind and distribute it during periods of lower renewable production.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 2:46 pm

F

UAW President Shawn Fain announced that Ford has agreed to an enhanced profit-sharing formula. Despite ongoing serious issues, Ford is committed to reaching a deal. No concessions have been made yet, but Ford has agreed to reinstate Cola.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 2:20 pm

GOOG

GOOGL

MS

MSFT

Morgan Stanley's new AI tool, AI @ Morgan Stanley Assistant, designed to aid financial advisers, has faced criticism for its lack of accuracy and responsiveness. Comparisons have been drawn with other AI tools like Microsoft's OpenAI's ChatGPT and Google's Bard, with Morgan Stanley's offering seemingly falling short. Some insiders have labeled the initiative as a publicity stunt, while others have criticized the bank for rebranding existing tools under the AI banner.

Portfolio Pulse from Anusuya Lahiri

September 22, 2023 | 2:10 pm

MCD

McDonald's Corporation is planning to increase its royalty fees from 4% to 5% for new franchisees starting January 1, 2024. This is the first such increase in nearly 30 years. The change will not affect current franchisees who maintain or expand their existing footprint or those purchasing an existing franchised location. The increased rate will apply to new franchisees, purchasers of company-owned restaurants, and relocated eateries.

Portfolio Pulse from Akanksha Bakshi

September 22, 2023 | 1:51 pm

DM

NNDM

SSYS

Nano Dimension (NNDM) has reaffirmed its opposition to the merger between Stratasys (SSYS) and Desktop Metal (DM), joining a growing consensus that includes large shareholder Donerail and proxy advisor ISS. Critics argue the deal will be highly dilutive, requiring Stratasys to pay a premium and provide financial support to Desktop Metal, while offering limited upside. They also accuse the Stratasys board of governance malpractice for approving a deal to issue shares at less than half the price of a prior all-cash offer, which they rejected.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 1:17 pm

CTIB

Yunhong Green CTI LTD. has announced a corporate name change and a change in its Nasdaq ticker symbol from 'CTIB' to 'YHGJ', effective from September 25, 2023. The new name reflects the company's global presence and its goal of bringing patented advanced materials to the North American market to enhance environmental sustainability. The company is developing compostable, biodegradable, and recyclable components for its existing and expanding product lines.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 12:07 pm

TM

TSLA

Lexus, under new global boss Takashi Watanabe, is seeking to learn from Tesla's successes to accelerate its entry into the electric vehicle (EV) market. Lexus aims to sell 1 million EVs annually by 2030, with an all-electric lineup by 2035. Despite combined sales of 24,466 electric vehicles last year by Lexus and its parent company Toyota, these figures represent less than 1% of their overall sales. Toyota has recently unveiled new technologies and production methods, including advanced EV batteries and manufacturing upgrades, due for launch in 2026, as part of the company’s efforts to close the gap with Tesla.

Portfolio Pulse from Benzinga Neuro

September 22, 2023 | 8:55 am

DIS

FXI

SPY

Disney has reportedly laid off its Beijing streaming technology team ahead of a meeting between CEO Bob Iger and the head of a China-focused Congressional Committee. The move comes amid increasing scrutiny of Disney's operations in China.

Portfolio Pulse from Charles Gross

September 22, 2023 | 8:51 am