Streetbeat News

Legal

DHLGY

FDX

UPS

India's Competition Commission (CCI) is investigating Deutsche Post (DHL) (OTC:DHLGY), United Parcel Service Inc (NYSE:UPS), and FedEx Corp (NYSE:FDX) for alleged collusion on discounts and tariffs. The probe, which began in October 2022, was triggered by complaints from the Federation of Indian Publishers. If found guilty, the companies could face significant fines based on their profits or revenue. UPS shares closed 0.35% lower at $156.99 on Thursday.

Portfolio Pulse from Shivani Kumaresan

January 05, 2024 | 12:35 pm

FDX

INDA

SPY

UPS

India's competition watchdog is investigating DHL, FedEx, and UPS for alleged antitrust practices and price collusion. The inquiry, which began in October, focuses on potential violations of Indian antitrust laws.

Portfolio Pulse from Charles Gross

January 05, 2024 | 10:09 am

TSLA

Tesla Inc (NASDAQ:TSLA) is recalling over 1.6 million vehicles in China due to concerns about the misuse of its autosteer feature. The company will address the issue with a software update that reminds drivers to follow driving regulations. This follows a similar recall in the U.S. last month, which affected over 2 million vehicles.

Portfolio Pulse from Anan Ashraf

January 05, 2024 | 9:56 am

MSFT

NYT

OpenAI is negotiating licensing deals with various publishers while facing a copyright lawsuit from The New York Times Co. (NYSE:NYT). Tom Rubin of OpenAI is optimistic about the negotiations, despite the lawsuit which also involves Microsoft Corporation (NASDAQ:MSFT). OpenAI previously secured agreements with Axel Springer SE and The Associated Press, but the lawsuit from NYT could disrupt operations, as it alleges unauthorized use of articles for AI training without permission.

Portfolio Pulse from Ananya Gairola

January 05, 2024 | 2:07 am

SMG

Scotts Miracle-Gro Foundation has donated $100,000 to the ACHEM Freedom Initiative to support legal cannabis users. The initiative, led by ACHEM and in partnership with NABCL, aims to provide resources and training for healthcare and legal professionals to defend medical marijuana patients' rights. Scotts Miracle-Gro (NYSE:SMG) shares were slightly up following the news.

Portfolio Pulse from Joana Scopel

January 04, 2024 | 11:05 pm

BNBUSD

COIN

The SEC is using a favorable judgment in the Terraform Labs case to strengthen its legal actions against Coinbase and Binance. The SEC's lawsuit against Coinbase cites a group of tokens it believes should be classified as unregistered securities, while in a separate case against Binance, the SEC is leveraging the same judgment to support its arguments against Binance's stablecoin BUSD and other services.

Portfolio Pulse from Murtuza Merchant

January 04, 2024 | 10:05 pm

MPW

Medical Properties Trust (MPT) has announced its intention to expedite the process of recovering uncollected rents and outstanding loan obligations from Steward Health Care. MPT is focusing on addressing the financial issues related to Steward's delayed payments.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 9:51 pm

CGTX

Cognition Therapeutics (CGTX) has received a notice of allowance for its U.S. patent application 17/537,110, which covers compositions for treating neurodegenerative diseases, including Alzheimer's disease and cognitive decline. This development could strengthen the company's intellectual property portfolio and potentially enhance its competitive position in the market for Alzheimer's treatments.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 5:41 pm

DIS

SONY

Reliance Industries Limited and Walt Disney Co (NYSE:DIS) are progressing in talks to merge their Indian media and entertainment divisions, with both companies engaging legal firms for antitrust due diligence. The discussions involve a major streaming service and 120 TV channels. A non-binding term sheet has been signed, and Reliance is expected to hold a majority in the merged entity. The deal, which may face antitrust challenges, follows a similar proposed merger between Sony Group Corp (NYSE:SONY) and Zee Entertainment in India. Disney's Indian business has been competing with Reliance, especially in streaming the Indian Premier League cricket. DIS shares dropped 1.30% to $90.46.

Portfolio Pulse from Shivani Kumaresan

January 04, 2024 | 4:52 pm

CMPS

CYBN

DRUG

ENVB

MNMD

SEEL

The DEA has clarified that psychedelic mushroom spores are federally legal prior to germination as they do not contain psilocybin or psilocin. This clarification does not change the legal status of the spores, which are illegal in some states and may still be considered drug paraphernalia depending on their marketing or use. The DEA also discussed the legal status of marijuana seeds, delta-8 THC, and synthetic cannabinoids, indicating ongoing regulatory efforts and interpretations.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:41 pm