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Regulatory

HYMTF

KIMTF

Kia Corporation (OTC:KIMTF) has announced a significant price reduction for its EV models in South Korea, including the EV6, EV9, and Niro EV, by up to $10,000. This move is part of the 'EV Festa' initiative, aimed at increasing EV production and sales in response to new government subsidies and to stay competitive against rivals like Tesla and BYD. The price cuts are also in alignment with South Korea's new EV policy to support local automakers.

Portfolio Pulse from Benzinga Neuro

February 27, 2024 | 5:35 am

JPM

JPMorgan CEO Jamie Dimon expressed concerns about a potential U.S. recession at the JPMorgan High Yield and Leveraged Finance Conference, citing factors like the market's optimistic 'soft landing' pricing, Federal Reserve's quantitative tightening, and fiscal spending deficits. Despite these concerns, Dimon does not foresee systemic issues or a crisis akin to 2008 but warns of possible real estate problems and challenges for some banks if a recession occurs. He also mentioned the impact of fintech competition and regulatory burdens on traditional banks but remains optimistic about AI's potential.

Portfolio Pulse from Benzinga Neuro

February 27, 2024 | 4:57 am

GOOG

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

APA

CPE

APA anticipates the completion of its acquisition of Callon Petroleum (CPE) around April 1, 2024. Both companies have set March 27, 2024, for shareholder votes on the deal. The Hart-Scott-Rodino Antitrust waiting period expired on February 22, 2024, indicating regulatory clearance.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 10:54 pm

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

CURLF

MRMD

The U.S. Cannabis Council (USCC) and Curaleaf Holdings Inc. (OTCQX:CURLF) have initiated a national donation drive across nearly 140 Curaleaf dispensaries to support cannabis legalization in the U.S. The campaign encourages customers to round up their purchases for donations, with plans to expand to dispensaries operated by MariMed Inc. (OTCQX:MRMD) and others. Funds raised will support the USCC's legislative advocacy efforts, including the capacity to support or oppose political candidates, as part of a broader strategy to achieve federal cannabis legalization.

Portfolio Pulse from Patricio Liddle

February 26, 2024 | 10:21 pm

VATE

INNOVATE has received a written notice from the NYSE indicating that it is not in compliance with the exchange's continued listing standards. This development could have implications for the company's stock listing status.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 10:09 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

CDE

Coeur Mining, Inc. (CDE) announced a private placement of 7,704,725 flow-through shares for $25 million to fund exploration at the Silvertip Property. The proceeds will be used for Canadian Exploration Expenditures in British Columbia and Yukon. The offering, subject to a four-month hold period, aims to evaluate the silver, lead, and zinc resources. It is scheduled to close around March 8, 2024, and will not be offered in the U.S.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:55 pm