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Berkshire Hathaway Inc. has completed the acquisition of the remaining 20% of Pilot Travel Centers, with total spending likely over $13 billion. Pilot, ranked as the nation's fifth-largest private company by Forbes, generated an estimated $70 billion in revenue in 2022, outperforming Nike, Coca-Cola, and Netflix. Despite a 23% revenue drop in 2023 due to lower fuel prices and sales volumes, Pilot remains significant for Berkshire's future earnings. The acquisition followed a legal dispute over alleged buyout terms violation, which was resolved in early January.

Portfolio Pulse from Benzinga Neuro

January 25, 2024 | 5:30 am

BTCUSD

Changpeng Zhao, founder of Binance, was denied travel to the UAE by a judge despite offering $4.5 billion in equity as a guarantee. Zhao, facing charges related to Binance's anti-money laundering safeguards, remains in the U.S. with sentencing set for February 23. His request to travel for medical needs of an unnamed person was denied due to being a flight risk, as he has substantial wealth and family in the UAE.

Portfolio Pulse from Mehab Qureshi

January 25, 2024 | 4:32 am

GOOG

GOOGL

Alphabet Inc. (GOOG, GOOGL) has settled a $1.67 billion patent lawsuit with Singular Computing regarding AI chip technology. The lawsuit, initiated in 2019, accused Google of using Singular's technology in its Tensor Processing Units. The terms of the settlement are undisclosed. This settlement occurs during a time of significant changes in Google's AI division, including Alphabet's recent split from its Australian AI training partner, Appen.

Portfolio Pulse from Ananya Gairola

January 25, 2024 | 2:57 am

TSLA

Susanna Gideonsson, Chairperson of the Swedish Trade Union Confederation (LO), has unexpectedly announced her resignation amidst a labor dispute with Tesla Inc. (NASDAQ:TSLA). The conflict, which began in late October 2023, involved sympathy strikes and nationwide actions against Tesla, including a blockade of Tesla vehicles and a halt in maintenance of showrooms and charging stations. A Swedish court ruling in December added to Tesla's challenges. Gideonsson's resignation may impact the ongoing conflict and negotiations with Tesla.

Portfolio Pulse from Shivdeep Dhaliwal

January 25, 2024 | 1:05 am

BTI

PM

A Chinese marathon runner known as 'Uncle Chen' was disqualified from the Xiamen Marathon for smoking throughout the race, despite finishing 574th out of over 1,500 runners. The disqualification was due to a race rule against 'uncivilized behavior' affecting other runners. This incident has sparked a range of reactions online. Meanwhile, companies like Philip Morris International Inc (PM) and British American Tobacco PLC (BTI) are focusing on alternative products like vaping to counteract declining cigarette demand.

Portfolio Pulse from Adam Eckert

January 24, 2024 | 11:22 pm

HPE

Hewlett Packard Enterprise (HPE) reported a security breach by suspected nation-state actor Midnight Blizzard, also known as Cozy Bear. The breach, which began in May 2023, involved unauthorized access and data exfiltration from cloud-based email accounts of certain HPE employees. Despite the breach, HPE stated in a filing that the incident has not materially impacted its operations or financial condition.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:57 pm

ALK

BA

SPY

An NTSB investigator is set to revisit Boeing's 737 factory in Renton, Washington, on Friday to continue the investigation into the recent mid-air cabin blowout incident on an Alaska Airlines flight.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 8:56 pm

ALK

BA

SPY

U.S. Senator Jerry Moran has called for the Senate Commerce Committee to investigate or conduct oversight into the findings from an Alaska Airlines accident. The details of the accident were not specified in the article.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 8:49 pm

BA

SPY

U.S. Senator Jerry Moran revealed that Boeing has reached an understanding of the cause behind the recent Alaska Airlines blowout incident. However, Boeing's CEO did not provide details during their meeting on Wednesday, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 8:47 pm

BLK

BlackRock has reportedly decided not to launch a spot XRP ETF, as reported by Fox News' Charles Gasparino. This decision comes after a ruling by Judge Analisa Torres, which did not classify XRP as an 'investment contract.' Despite this, regulatory uncertainty remains due to the ongoing SEC lawsuit against Ripple, the company behind XRP. Industry experts suggest that an XRP ETF is likely but contingent on the lawsuit's outcome. BlackRock's cautious stance reflects the need for clearer regulatory frameworks for cryptocurrencies.

Portfolio Pulse from Murtuza Merchant

January 24, 2024 | 7:59 pm