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Major indices faced a challenging week with the Dow, Nasdaq, and S&P experiencing declines. WTI crude hit a 10-month high due to Saudi Arabia and Russia's decision to extend production cuts, sparking inflation and interest rate concerns. Tesla is returning to the Detroit Auto Show, emphasizing its dominant position in the EV market. Goldman Sachs reduced its U.S. recession risk to 15%, citing strong economic fundamentals. Shiba Inu's Shibarium surpassed 1M wallets two weeks post-launch. Daniel Niles plans to short Apple stock due to potential threats from Huawei's new Mate60 Pro and China's expanding ban on foreign phones. Nikola Corp's semi truck's lithium-ion battery caught fire, marking the company's third such incident this year. Disney modified its lawsuit against Florida Governor Ron DeSantis, focusing solely on its "First Amendment" claim.

Portfolio Pulse from Michael Cohen

September 09, 2023 | 4:51 pm

GOOG

GOOGL

META

A recent ruling by the 5th U.S. Circuit Court of Appeals has granted the Biden administration increased leeway in its interactions with social media companies. The ruling restricts government officials from coercing or encouraging social media companies to remove content deemed as misinformation. However, it temporarily lifted restrictions on the Biden administration’s communication with social media companies for 10 days. The lawsuit had accused Meta Platforms Inc.'s Facebook, Alphabet Inc.'s YouTube, and Twitter of censorship due to government pressure and threats of regulatory action.

Portfolio Pulse from Ananya Gairola

September 09, 2023 | 8:22 am

META

Meta Platforms Inc. (NASDAQ:META) has been ordered by a U.S. District Judge to face a class action lawsuit alleging violations of medical privacy rules. The lawsuit claims that Meta's tracking tool, Meta Pixel, captured and relayed confidential healthcare data. The legal proceedings started in June 2020 when it was revealed that at least 664 healthcare providers were using Meta Pixel.

Portfolio Pulse from Benzinga Neuro

September 09, 2023 | 7:10 am

GOOG

GOOGL

A Japanese YouTuber, Shinobu Yoshida, has been sentenced to two years in prison and fined ¥1 million for monetizing gameplay videos on Alphabet Inc's YouTube without permission from publishers. This is the first conviction of its kind in Japan. Yoshida uploaded videos related to the visual novel 'Steins;Gate: My Darling’s Embrace' and summaries of episodes from the 'Steins;Gate' and 'Spy x Family' anime shows, earning revenue from them, which violates Japanese copyright law.

Portfolio Pulse from Franca Quarneti

September 08, 2023 | 9:01 pm

AAPL

FTTUSD

Apple Inc. has reportedly spent $5 million to acquire the rights to Michael Lewis' upcoming book about the journey of FTX's co-founder and former CEO Sam Bankman-Fried. The book, titled 'Going Infinite: The Rise and Fall of a New Tycoon,' is set to be published on October 3, coinciding with the start of Bankman-Fried's trial in New York. There are also discussions about a potential documentary by director Nanette Burstein.

Portfolio Pulse from Murtuza Merchant

September 08, 2023 | 8:14 pm

BTCUSD

COIN

ETHUSD

XRPUSD

The Securities and Exchange Commission (SEC) has filed a reply memorandum in further support of its motion to certify interlocutory appeal in the SEC vs Ripple case.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 7:55 pm

DB

Rashawn Russell, a former investment banker at Deutsche Bank AG (NYSE:DB), has been charged for his alleged role in a complex cryptocurrency investment fraud scheme. Russell is accused of misappropriating investor funds for personal expenses and providing counterfeit documentation to investors. He is charged with one count of wire fraud and could face up to 20 years in prison if found guilty. The Commodity Futures Trading Commission (CFTC) has also filed a civil complaint against Russell, charging him with fraudulently soliciting retail investors and misappropriating at least $1 million in investor assets.

Portfolio Pulse from AJ Fabino

September 08, 2023 | 7:54 pm

BUR

YPF

Burford Capital announced that a recent U.S. court ruling in a case involving YPF implies a judgment against Argentina of approximately $16 billion. Burford described the ruling as a 'complete win against Argentina'.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 6:20 pm

BUR

Burford Capital's shares are trading higher following a favorable decision regarding damages and interest in the Petersen and Eton Park claims against the Republic of Argentina.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 5:01 pm

GCI

GOOG

Google has filed a motion to dismiss a federal antitrust lawsuit from Gannett, America's largest newspaper chain, alleging Google's dominance in digital advertising undercut revenue for news publishers. Google denied it abused its position as a dominant ad tech provider to hurt competitors. The tech giant also argued Gannett missed a 'permissible period' of four years to bring its suit, under a certain provision of the Sherman Antitrust Act.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 4:32 pm