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BNBUSD

Binance has withdrawn its application for a crypto license in Germany amid increasing regulatory challenges. The decision follows the refusal of German regulators to grant Binance a crypto custody license. The firm also recently exited the Netherlands due to failure to meet registration requirements and is under investigation in France. Binance is also facing accusations from the U.S. Securities and Exchange Commission and has recently laid off more than a third of its global workforce.

Portfolio Pulse from Jose Rodrigo Safdiye

July 26, 2023 | 5:35 pm

DB

GOOG

JPM

New details have emerged linking Alphabet Inc co-founder Sergey Brin and Jeffrey Epstein, months after Brin was subpoenaed in a lawsuit. The lawsuit alleges that Epstein brought several wealthy clients to JPMorgan Chase, including Brin. Court documents also show Epstein introducing Larry Page to JPMorgan. The Virgin Islands government is seeking $190 million in its lawsuit, claiming that JPMorgan benefitted from Epstein's wealthy clients while ignoring his sex-trafficking ring. Deutsche Bank previously announced a $75 million settlement with Epstein's victims, while JPMorgan has reached settlements of $150 million with Epstein's victims and a separate settlement of $290 million with Epstein victim 'Jane Doe'.

Portfolio Pulse from Chris Katje

July 26, 2023 | 5:22 pm

MNK

Mallinckrodt Plc (NYSE:MNK) is reportedly considering pulling out of a $1.7 billion settlement related to the opioid crisis, with $1.3 billion still outstanding. Hedge funds that backed the company, including Silver Point Capital, Bracebridge Capital and Alta Fundamental Advisers, are negotiating with the board to take control of the business through a bankruptcy declaration. The funds argue that the settlement could harm the company's financial stability and breach its legal obligations to investors.

Portfolio Pulse from Vandana Singh

July 26, 2023 | 4:28 pm

SPY

Hunter Biden, son of President Joe Biden, has pleaded guilty to tax crimes in a deal with the Department of Justice (DOJ), according to Bloomberg. The news does not directly involve any US-listed companies or ETFs.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 4:18 pm

SPY

Hunter Biden and prosecutors have agreed to a more limited plea deal, according to CNN. However, the news does not provide any specific details about the deal or its potential impact on any US-listed companies or ETFs.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 4:14 pm

MNK

Hedge funds, including Silver Point, are in talks with Mallinckrodt to withdraw from a $1.7 billion opioid settlement. The hedge funds are devising a plan to cut off $1 billion meant for opioid victims and seek to become Mallinckrodt's owners after a new Chapter 11 filing.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 2:56 pm

GOOG

GOOGL

CNBC host Jim Cramer has advised investors to consider trimming their positions in Alphabet Inc. if its shares surge post the quarterly earnings announcement, due to the ongoing lawsuit against the company by the U.S. Department of Justice. The lawsuit, which accuses Alphabet of anti-competitive practices, is seen as a potential dampener for its stock’s upside.

Portfolio Pulse from Benzinga Neuro

July 26, 2023 | 8:56 am

ORCL

Oracle has won a copyright case against Rimini Street, with the court entering a permanent injunction limiting Rimini's support practices and requiring Rimini to permanently discontinue use of various support practices. The court also held Rimini's CEO personally liable for the misconduct.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:22 am

AMZN

SPY

The Federal Trade Commission (FTC) is preparing a lawsuit that could potentially break up Amazon (AMZN). The news was reported by Politico.

Portfolio Pulse from Charles Gross

July 25, 2023 | 10:42 pm

SHC

Sotera Health's subsidiary, Sterigenics, has been ordered to pay $75.5M for past defense costs in their ethylene oxide litigation. The court judgement is likely to impact Sotera Health's financials.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 10:39 pm