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GOOGL

META

The Canadian government, led by Prime Minister Justin Trudeau, has introduced the Online Harms Act to regulate and remove harmful online content by holding major tech companies accountable. This includes platforms like TikTok, X Corp., Meta Platforms Inc. (META), and Alphabet Inc.'s YouTube (GOOG, GOOGL). The law mandates active regulation and removal of content that bullies, sexually victimizes children, incites extremism, violence, or hatred. A new regulatory body, the Digital Safety Commission, will enforce rules and handle complaints.

Portfolio Pulse from Ananya Gairola

February 27, 2024 | 2:44 am

BTCUSD

Republican senators have introduced a bill to ban central bank digital currencies (CBDCs), citing privacy concerns and potential overreach by the federal government. This legislation aims to prevent the Federal Reserve from issuing or allowing third parties to issue CBDCs, impacting the Biden administration's exploration of digital currency technology. The move follows criticism from figures like Donald Trump and concerns over government control and privacy.

Portfolio Pulse from Benzinga Neuro

February 27, 2024 | 1:01 am

JBLU

SAVE

JetBlue Airways Corporation (JBLU) and Spirit Airlines Inc (SAVE) have appealed to a U.S. appeals court to reverse a decision blocking their $3.8 billion merger, arguing it would enhance competition and lower prices. The U.S. Department of Justice had previously halted the merger, citing antitrust concerns. The legal battle continues with hearings scheduled for June, ahead of the July 24 merger deadline.

Portfolio Pulse from Michael Cohen

February 26, 2024 | 10:27 pm

JBLU

SAVE

JetBlue Airways (JBLU) and Spirit Airlines (SAVE) have appealed to a U.S. court to overturn a ruling that blocked their $3.8 billion merger, arguing it would enhance competition and reduce prices for most consumers. The merger was previously halted by a judge for potentially harming consumers by eliminating Spirit's low fares. The Justice Department will respond to the appeal in April, with the court hearing set for June. The merger aims to create a stronger competitor to the four major U.S. airlines, controlling 10.2% of the domestic market.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:59 pm

CVX

HES

XOM

Chevron's $53B deal to acquire Hess is facing challenges as Exxon Mobil and China's CNOOC claim rights to pre-empt Chevron's bid for a stake in a significant oil project off Guyana. This emerging dispute, highlighted in a Chevron regulatory filing, could potentially derail the acquisition. Exxon operates the Guyana project, one of the largest oil finds in recent years, and along with CNOOC, is challenging Chevron's purchase of Hess.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:57 pm

SCLX

VRPX

Scilex Pharmaceuticals Inc. has entered into a term sheet with Virpax Pharmaceuticals, Inc. for a mutual release and settlement agreement. This development could indicate a resolution of prior disputes or litigations between the two companies, potentially clearing the way for future collaborations or smoother operations.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:54 pm

AZN

MRK

NVS

Merck and AstraZeneca have filed a patent infringement lawsuit against Novartis's Sandoz unit in the U.S. District Court for the District of New Jersey.

Portfolio Pulse from Charles Gross

February 26, 2024 | 9:53 pm

ZoomInfo Technologies has agreed to settle an Illinois class action lawsuit by paying 3% of statutory damages to eligible members in four states, with total charges estimated to be between $26M and $29M.

Portfolio Pulse from Charles Gross

February 26, 2024 | 9:50 pm

AEP

American Electric Power (AEP) announced a CEO transition with Benjamin G.S. Fowke III appointed as interim CEO & President, succeeding Julie A. Sloat. Sara Martinez Tucker is named Chair of the Board. AEP reaffirmed its 2024 operating earnings guidance range of $5.53-$5.73. The leadership change is part of a strategic move to position AEP for future success, with no disagreements or ethical concerns cited for Sloat's departure. AEP is also conducting an external search for a permanent CEO.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:47 pm

OCTO

Eightco Holdings Inc. (NASDAQ:OCTO) has completed its final repayment of the Hudson Bay Note ahead of schedule, reducing debt and enabling growth for its subsidiary Forever 8. The company also conducted a private placement at $0.82 per share and issued promissory notes to investors. Changes in company officers and the issuance of common stock to settle obligations were announced. These financial maneuvers aim to reduce costs and focus resources on Forever 8's growth.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:44 pm