Streetbeat News

Regulatory

BABA

The UAE is considering introducing long-term business licenses, including 10-year 'golden' licenses, to boost business activities and attract foreign investment. This initiative is part of the 'We are the UAE 2031' vision and aims to enhance the country's competitiveness and economic growth. The proposal was discussed in the Economic Integration Committee meeting chaired by Minister Abdulla bin Touq Al Marri. Additionally, the UAE's strategic initiatives, such as a $5.5 billion deal with Hungary and partnerships with Alibaba Group, highlight its efforts to expand its global influence and embrace cutting-edge technologies.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 7:56 am

TSLA

Tesla Inc (NASDAQ:TSLA) has expressed concerns to the Mexican government regarding proposed EV charging station rules by Mexico's Energy Regulatory Commission (CRE), which mandate operators to choose only two out of five connector standards. Tesla argues this could complicate and increase the cost of station setups, hinder EV deployment, and negatively impact the customer experience, especially for cross-border travel between the U.S. and Mexico. The company emphasizes its investment in a cross-country charging network in Mexico and advocates for an accessible network that meets all vehicle needs.

Portfolio Pulse from Anan Ashraf

March 28, 2024 | 7:53 am

WKEY

WISeKey International Holding Ltd. (WKEY), a global cybersecurity, digital identity, and IoT leader, announced its GSMA Root Certificate Issuer accreditation, marking a significant advancement in telecommunications security for the 5G era. This accreditation is expected to enhance security across telecom networks, accommodating billions of new devices and addressing the evolving threat landscape.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 7:23 am

WXIBF

U.S. intelligence officials have accused WuXi AppTec Co Ltd (OTC:WXIBF), a Chinese pharmaceutical company, of illegally transferring U.S. intellectual property to Beijing. This revelation was made during a classified briefing to senators, amid broader concerns over Chinese companies' involvement in activities against U.S. national security interests. WuXi AppTec denies the allegations, emphasizing their commitment to safeguarding client data. The U.S. is considering legislation to restrict government funds to Chinese firms engaged in such activities.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 7:13 am

F

GM

STLA

TSLA

Former Ford CEO Mark Fields believes established automakers like Ford, General Motors, and Stellantis are well-positioned for the EV transition, citing their strong ICE vehicle business and investor trust. This comes amid challenges like stringent emissions standards, supply chain issues, and concerns over EV adoption rates. Despite these, shares of GM, Stellantis, and Ford have risen, reflecting market optimism.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 6:24 am

AAPL

Oregon has passed a right-to-repair bill, SB 1596, that prohibits parts pairing in repairs, directly impacting Apple Inc. (NASDAQ:AAPL). This law, signed by Governor Tina Kotek, aims to facilitate consumer and third-party repairs by mandating companies to provide the same parts, tools, and repair documents to owners as to repair shops without extra charges. The bill, which does not apply to phones sold before July 1, 2021, but covers other consumer electronics sold after July 1, 2015, is seen as a significant move against electronic waste and restrictive repair practices.

Portfolio Pulse from Ananya Gairola

March 28, 2024 | 6:08 am

AKBA

Akebia Therapeutics has received FDA approval for its Vafseo tablets, a once-daily oral HIF-PH inhibitor designed to treat dialysis-related anemia. The company has developed a launch strategy aiming to establish Vafseo as a new oral standard of care for this condition.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 5:51 am

GOOG

GOOGL

Google's report reveals China as the top exploiter of zero-day vulnerabilities in 2023, with a significant increase in cyber espionage activities. The report, by Alphabet Inc.'s Google, highlights a global surge in zero-day exploits, with China exploiting 12 in 2023, up from seven in 2022. This trend reflects broader concerns over China's cyber activities, including recent accusations from Australia, New Zealand, and the FBI regarding cyberattacks on democratic institutions and critical infrastructure.

Portfolio Pulse from Ananya Gairola

March 28, 2024 | 4:27 am

COIN

Edward Snowden predicts the SEC will face a significant defeat in its lawsuit against Coinbase Global Inc. (NASDAQ:COIN), referencing a past incident where the SEC had to approve Bitcoin ETFs after a legal loss. The SEC's lawsuit accuses Coinbase of operating as an unregistered securities dealer, a motion recently upheld by the court. Snowden, a Bitcoin supporter, remains optimistic about Bitcoin's future despite current legal challenges and recent price movements.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 1:06 am

MDXXF

PharmAla Biotech Holdings (OTC:MDXXF) has been granted a US patent for ALA-002, a novel MDMA mixture, by the USPTO. This patent covers the composition of ALA-002, a mixture of MDMA enantiomers aimed at reducing adverse effects and addiction potential while improving pro-social effects. The company plans to pursue clinical research for treating social anxiety in Autism Spectrum Disorder and other neurological disorders, leveraging this patent to accelerate global IP efforts.

Portfolio Pulse from Lara Goldstein

March 27, 2024 | 10:56 pm