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Corporate Responsibility

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Twitter is considering suing Meta Platforms Inc over the creation of a rival social media app called Threads, alleging that Meta recruited former Twitter employees who retained company devices and documents. However, legal experts suggest that proving such a case is challenging. The case recalls Alphabet's Waymo vs. Uber Technologies Inc, where initial accusations of widespread trade secret theft were reduced to a few disputed documents.

Portfolio Pulse from Bibhu Pattnaik

July 09, 2023 | 4:32 pm

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Telecommunications companies including AT&T Inc., Verizon Communications Inc., and Frontier Communications Parent Inc have left behind thousands of toxic lead-covered cables, posing a health risk to surrounding communities. The Wall Street Journal found that lead levels in sediment and soil at over 4 dozen locations exceeded safety recommendations set by the U.S. Environmental Protection Agency. The companies have known about the potential risks but have not acted meaningfully to mitigate them.

Portfolio Pulse from Anthony Noto

July 09, 2023 | 3:21 pm

META

Meta Platforms Inc (NASDAQ:META) has spent $43.4 million on CEO Mark Zuckerberg's personal security expenses over the past three years. Meanwhile, Zuckerberg's foundation, the Chan-Zuckerberg Initiative (CZI), has donated $5.5 million to activist groups advocating for defunding the police. CZI also provides financial aid to the community foundation associated with the Redwood City Police Department, which patrols the vicinity of Meta's and CZI's offices.

Portfolio Pulse from Bibhu Pattnaik

July 08, 2023 | 5:32 pm

META

A resurfaced instant message exchange from a 19-year-old Mark Zuckerberg has intensified the rivalry between Twitter and Meta Platforms Inc.'s Threads. The conversation reveals Zuckerberg's casual attitude towards user privacy in the early days of Facebook, raising fresh concerns over the company's privacy practices. The timing of the leak coincides with growing interest in Meta's Threads, and the impact on Facebook’s user base and public perception is yet to be seen.

Portfolio Pulse from Ananya Gairola

July 08, 2023 | 9:51 am

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Sega Corp. is reconsidering its blockchain gaming strategy due to the recent downturn in the global cryptocurrency market. The company will no longer allow its flagship franchises to be used in third-party blockchain gaming projects. However, Sega will continue to invest in blockchain-related ventures and will offer its lesser-known franchises to upcoming blockchain games. Other gaming companies like Square Enix Holdings Co., Ltd. and Bandai Namco Entertainment Inc had also previously embraced blockchain technology.

Portfolio Pulse from Franca Quarneti

July 07, 2023 | 6:00 pm

GM

A defective battery incident at General Motors' (GM) Ultium electric-vehicle plant has sparked safety demands amid ongoing UAW contract talks. The UAW is seeking better safety protections following multiple accidents at the plant. The UAW is also pushing to include Ultium workers in its master-labor agreement with major Detroit car companies. Under the Inflation Reduction Act, GM expects to earn $300 million in tax credits this year and aims to build 1 million EVs annually by 2025.

Portfolio Pulse from Anusuya Lahiri

July 07, 2023 | 1:54 pm

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DISH

EADSY

KKR

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NVO

SBUX

SPOT

TSLA

ZM

TikTok plans to launch a new music streaming service in Brazil and Indonesia, posing a threat to Spotify. Cronos Group is considering a potential sale after attracting acquisition interest. DISH Network is considering merging with EchoStar Corp. Novo Nordisk has filed lawsuits against pharmacies for illegally selling products containing semaglutide. Alibaba's stock is trading higher amid reports of China looking to end its regulatory overhaul on Ant Group. Starbucks is being sued by the National Labor Relations Board for illegal termination. ChatGPT's website traffic and app downloads have declined. Zoom Video is planning to double its technology investments in the Asia-Pacific region. Broadcom is considering a major investment in Spain's semiconductor sector. Airbus delivered 72 airplanes to 48 customers in June. KKR is acquiring a majority stake in PangeaCo. Tesla is laying off some battery production workers at its Shanghai plant. LVMH-backed firm is considering an IPO of Birkenstock in the US market.

Portfolio Pulse from Vandana Singh

July 07, 2023 | 1:31 pm

IGC

IGC Pharma has secured a $12 million line of credit from O-Bank to strengthen its Alzheimer's research efforts.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 1:17 pm

TSLA

A video released by YouTube channel AI Addict, in collaboration with public safety advocacy group The Dawn Project, shows Tesla's Full-Self Driving (FSD) software failing to avoid obstacles such as children and dogs. The tests involved Tesla vehicles equipped with FSD versions 11.4.4 and 11.4.2, both of which resulted in collisions with a dummy resembling a child. The Dawn Project aims to ban Tesla's FSD software, claiming it malfunctions frequently in city streets. The video host, former Tesla ADAS test operator John Bernal, was fired by Tesla in March 2022 for reviewing the FSD software on his YouTube channel.

Portfolio Pulse from Anan Ashraf

July 07, 2023 | 1:06 pm

CMCSA

Comcast Corp's President, Mike Cavanagh, has announced a leadership overhaul at NBCUniversal. Donna Langley has been named chairman of NBCUniversal Studio Group and chief content officer. Mark Lazarus is now chairman of NBCUniversal Media Group, and Cesar Conde will expand his role to oversee NBCUniversal Local and Telemundo Enterprises Group. The changes aim to streamline decision-making processes. Comcast's shares traded lower by 0.32% at $41.08 premarket on the last check Friday.

Portfolio Pulse from Anusuya Lahiri

July 07, 2023 | 1:02 pm