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Regulatory

SPY

Treasury Secretary Janet Yellen expressed confidence in a CNBC interview that inflation rates will continue to decrease. This statement is significant as it reflects the government's outlook on the economy and can influence investor sentiment and market trends.

Portfolio Pulse from Charles Gross

April 08, 2024 | 9:26 am

FXI

SPY

Treasury Secretary Janet Yellen emphasized the value of trade between the US and China, while also highlighting the US's readiness to impose export restrictions in areas concerning national security interests, according to CNBC.

Portfolio Pulse from Charles Gross

April 08, 2024 | 9:25 am

TSM

The U.S. Commerce Department plans to award TSMC a $6.6 billion subsidy and up to $5 billion in low-cost loans for expanding semiconductor production in Phoenix, Arizona, according to Reuters.

Portfolio Pulse from Charles Gross

April 08, 2024 | 9:23 am

FXI

SPY

Treasury Secretary Yellen stated in a CNBC interview that while China is permitted to sell electric vehicles (EVs) in the US, the administration won't rule out tariffs on China's green exports to foster a domestic industry.

Portfolio Pulse from Charles Gross

April 08, 2024 | 9:18 am

META

US lawmakers have introduced the American Privacy Rights Act, aiming to give consumers control over their personal data and establish a national standard for data collection, use, and transfer by companies. The proposal, which faces uncertain prospects, would allow users to opt out of targeted advertising, require minimal data collection, and enable data access and deletion. It seeks to override state privacy laws but maintains specific state regulations on health or financial data. Companies like Meta, Google, and TikTok, which have faced scrutiny for data practices, could be significantly impacted.

Portfolio Pulse from Ananya Gairola

April 08, 2024 | 8:51 am

LEGN

Legend Biotech Corporation (NASDAQ:LEGN) announced FDA approval of CARVYKTI for second-line treatment of multiple myeloma, making it the first and only BCMA-targeted CAR-T cell therapy for this indication. The approval is based on the CARTITUDE-4 study showing significant improvement in progression-free survival compared to standard treatments. This marks a potential paradigm shift in multiple myeloma treatment, offering a personalized immunotherapy option earlier in the treatment regimen. The safety profile of CARVYKTI includes several warnings, and the company has expanded production capacity to meet demand.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 7:42 am

BYDDF

GEELY

TSLA

China's Commerce Minister, Wang Wentao, countered claims that the country's EV industry growth is due to subsidies, attributing it instead to 'constant innovations'. During a roundtable in Paris with companies like Geely, BYD, and CATL, Wang addressed the EU's anti-subsidy probe and U.S. concerns about overcapacity. The discussion highlights the global competition and scrutiny of China's EV market, amidst developments like Chery Auto's new EV brand and BYD's potential entry into the EV pickup market.

Portfolio Pulse from Benzinga Neuro

April 08, 2024 | 7:42 am

300750.SZ

BYDDF

GEELY

China's Commerce Minister, Wang Wentao, attributes the success of China's EV industry to 'constant innovations' rather than subsidies, countering U.S. and EU concerns of overcapacity. The comments were made during a roundtable in Paris, involving major Chinese companies like Geely, BYD, and CATL. This comes amidst the EU's anti-subsidy probe into Chinese EV imports and U.S. Treasury Secretary Janet Yellen's visit to China, where she voiced concerns over Chinese industrial overcapacity.

Portfolio Pulse from Benzinga Neuro

April 08, 2024 | 7:41 am

MSFT

The UK is warned of increased cyber threats and AI-generated disinformation targeting the 2024 elections, including state-sponsored cyberattacks and AI deepfakes. Cybersecurity experts emphasize the need for awareness and international cooperation to combat these threats. Companies like Okta and CrowdStrike highlight the risks of AI-powered identity attacks and disinformation. Digital platforms like Meta, Google, and TikTok face challenges in keeping misinformation off their platforms. Global incidents of cyberattacks underscore the need for vigilance.

Portfolio Pulse from Benzinga Neuro

April 08, 2024 | 7:33 am

JNJ

The U.S. FDA has approved Johnson & Johnson's CARVYKTI® for patients with relapsed or refractory multiple myeloma who have received at least one prior line of therapy. This approval, based on the Phase 3 CARTITUDE-4 study, shows a 59% reduction in disease progression or death risk compared to standard therapies, marking a significant advancement in treatment options.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 7:30 am