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Legal

AAPL

Apple Inc. is under scrutiny by the European Union for terminating Epic Games' developer account, preventing it from launching its own app store for iPhone users in Europe. This action could lead to another legal clash and potential penalties under the EU's new Digital Markets Act. The incident is part of ongoing controversies involving Apple's App Store policies, including a recent $1.95 billion EU fine for excluding music-streaming competitors and backlash over a 27% fee on sales from app links.

Portfolio Pulse from Rounak Jain

March 07, 2024 | 11:57 am

BTCUSD

El Salvador's President Nayib Bukele reacted with laughter to the indictment of Sen. Bob Menendez, a critic of El Salvador's Bitcoin adoption, on new charges including obstruction of justice. This adds to Menendez's existing bribery charges. Menendez had co-sponsored legislation against El Salvador's Bitcoin use. Meanwhile, Bitcoin reached a new high of $69,170.63 but traded nearly flat at $65,941.32 recently.

Portfolio Pulse from Benzinga Neuro

March 07, 2024 | 11:30 am

NINOY

Nikon Corporation (OTCPK: NINOY) is set to acquire RED.com, LLC, a leading U.S. cinema camera manufacturer, aiming to strengthen its position in the professional digital cinema camera market. The acquisition, negotiated with RED's founder and president, will make RED a wholly-owned subsidiary of Nikon. This move follows a legal dispute between the two companies over Nikon's Z9 camera, which has now been resolved with the dismissal of the case. Nikon plans to leverage RED's technology and expertise to expand its offerings in the cinema camera market.

Portfolio Pulse from Rounak Jain

March 07, 2024 | 9:35 am

AAPL

Y Combinator co-founder Paul Graham criticized Apple Inc. (NASDAQ:AAPL) for its decision to terminate Epic Games' developer account, highlighting a broader discontent among app developers and tech personalities with Apple's policies on app store alternatives and payment options. The criticism comes amid Apple's ongoing feud with Epic Games over app store policies and payment systems, with Apple accused of non-compliance with court orders. The situation raises questions about Apple's power and its impact on developers and the tech industry.

Portfolio Pulse from Rounak Jain

March 07, 2024 | 8:42 am

TSLA

Tesla Inc's Vice President, Rohan Patel, defended the company's sustainability efforts at its Berlin gigafactory, highlighting water conservation, solar capacity, and tree planting initiatives. Despite an arson attack by the Volcano Group causing a temporary production halt, Patel remains confident in the factory's resilience. The Berlin facility's sustainability measures and economic contributions to the local community were emphasized, alongside Tesla's commitment to expansion despite local opposition.

Portfolio Pulse from Anan Ashraf

March 07, 2024 | 8:40 am

CC

Chemours disclosed findings from an internal audit revealing a lack of transparency by senior management, specifically regarding payables and receivables timing actions affecting free cash flow targets. This led to violations of the Company's Code of Ethics by the CEO, CFO, and Controller, resulting in administrative leave for those involved. However, these findings do not impact the preliminary financial results for the year ended December 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 7:03 am

GOOG

GOOGL

Google engineer Linwei Ding, employed by Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), has been indicted for allegedly stealing AI trade secrets, including designs for Google's tensor processing unit chips and specifications for GPUs. The theft, involving over 500 confidential files, occurred between May 2022 and May 2023. Ding faces up to ten years in prison and a $250,000 fine for each of the four counts of theft if convicted. This incident is part of broader tensions between the U.S. and China over technological advancements.

Portfolio Pulse from Ananya Gairola

March 07, 2024 | 5:30 am

AAPL

Epic Games CEO Tim Sweeney criticized Apple Inc. (AAPL) for blocking Epic Games from competing with its App Store, following Apple's termination of Epic's developer account. This action prevents Epic from introducing its store and Fortnite on iOS in Europe. Sweeney highlighted the impact on future iPhone users and developers. Elon Musk reacted to Sweeney's comments, questioning Apple's decision.

Portfolio Pulse from Ananya Gairola

March 07, 2024 | 3:42 am

MSFT

A Microsoft Corp engineer discovered that the AI image generator Copilot Designer produces 'disturbing' content, violating responsible AI principles. Despite reporting the issue, Microsoft has not removed the product. The situation raises concerns about misinformation, especially with upcoming elections. Google also faced criticism for its AI image generator, while Microsoft's AI upgrade for 365 received mixed reviews.

Portfolio Pulse from Benzinga Neuro

March 07, 2024 | 2:31 am

CMCSA

SPY

Former President Donald Trump won the majority of states during Super Tuesday, leading to Nikki Haley suspending her campaign. Media outlets, including MSNBC, a Comcast Corporation unit, are debating how to cover Trump's speeches due to past misinformation. MSNBC aired part of Trump's speech before cutting away, sparking discussions on responsible coverage. Trump's comments on the stock market and his impact on the S&P 500 during his presidency were highlighted, contrasting with the market's performance under President Biden. The SPDR S&P 500 ETF Trust (SPY) saw significant gains during both presidencies.

Portfolio Pulse from Chris Katje

March 06, 2024 | 9:29 pm