Streetbeat News

Regulatory

TLRY

Panama has granted seven licenses for the production and distribution of medical cannabis, marking a significant step in regulatory progress and economic opportunity. The licenses were awarded to various consortia and companies after a rigorous evaluation process. This development is seen as a triumph for Panamanian entrepreneurs and patients and sets a precedent for Central American countries in the medical cannabis industry. The licensed entities are now tasked with establishing a responsible industry, ensuring product quality, and contributing to research.

Portfolio Pulse from El Planteo

January 15, 2024 | 4:06 pm

BUD

TGT

Chamath Palihapitiya, a billionaire investor, announced the creation of an incubator named 8090, which aims to use AI and offshoring to develop enterprise software at a significant discount. He suggested that this could disrupt the software market by reducing the need for businesses to pay subscription fees to software providers. Mark Cuban responded to Palihapitiya's announcement with a cautionary note about tax implications related to R&D with foreign developers, referencing Sec 174. The article also mentions past public disagreements between Palihapitiya and Cuban, including debates over political ideologies affecting business and consumer behavior.

Portfolio Pulse from Chris Katje

January 15, 2024 | 2:38 pm

ALK

BA

SPR

Boeing's Commercial Airplanes CEO announced that the company will allow 737 operators to perform extra inspections at its production facilities. Additionally, Boeing will hire an independent party to assess its airplane production practices.

Portfolio Pulse from Charles Gross

January 15, 2024 | 1:28 pm

BIDU

Baidu, Inc. (NASDAQ: BIDU) has clarified that it has not engaged in any business collaboration or provided tailored services to the authors of an academic paper or their affiliated institutions. The paper mentioned Baidu's ERNIE Bot among other large language models. Baidu emphasized its commitment to compliance with laws and best practices in operating its AI products.

Portfolio Pulse from Charles Gross

January 15, 2024 | 1:10 pm

TRI

Thomson Reuters Corporation (TRI) has acquired a majority stake of 53.81% in Pagero Group AB, a leader in e-invoicing and indirect tax solutions. Thomson Reuters increased its tender offer to SEK 50 per share, valuing Pagero at approximately SEK 8.1 billion. The acquisition enhances Thomson Reuters' ONESOURCE indirect tax offerings and is expected to provide significant growth opportunities due to increasing global e-invoicing regulations. The offer is unconditional and fully financed, with the acceptance period ending on February 9, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 15, 2024 | 11:22 am

DOGE

ETH

FLOKI

SHIB

TokenFi (CRYPTO: TOKEN), a sister token of Floki (CRYPTO: FLOKI), surged 33% in the past week, outperforming other meme coins like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB). BlackRock CEO Larry Fink's comments on the potential of tokenization and the approval of spot Bitcoin ETFs by the SEC have been linked to the positive sentiment around TokenFi. Fink's belief in Ethereum-based ETFs as a step towards tokenization has been echoed by Floki Core contributor B Da Viking, emphasizing the importance of tokenization in the future of finance.

Portfolio Pulse from Mehab Qureshi

January 15, 2024 | 9:59 am

BA

Boeing Co. (NYSE:BA) faces further delays in resuming 737 Max jet deliveries to China after an incident involving an Alaska Airlines aircraft, which led China Southern Airlines to conduct additional safety inspections. The delay adds to the challenges Boeing has been facing in China, where deliveries have been halted since two fatal crashes of the 737 MAX 8. The Chinese market is significant for Boeing, expected to account for 20% of global airplane deliveries over the next two decades. The recent incident with Alaska Airlines' MAX 9 has increased uncertainty around the timing of deliveries to China.

Portfolio Pulse from Benzinga Neuro

January 15, 2024 | 7:38 am

BTCUSD

ETHUSD

A long-inactive Ethereum address transferred 2000 ETH after 8.5 years, coinciding with growing speculation about an ETH ETF. The reactivated wallet's ETH was originally purchased for $0.42 to $1.39, and with ETH's current price at $2,511, the value has soared. BlackRock CEO Larry Fink expressed support for an Ethereum ETF, and venture capitalist Vance Spencer predicted key blockchain milestones, including an ETH ETF and increased institutional adoption. However, TD Cowen anticipates SEC delays in Ethereum ETF decisions until at least May.

Portfolio Pulse from Mehab Qureshi

January 15, 2024 | 7:05 am

BIDU

Baidu Inc's (NASDAQ:BIDU) stock experienced its largest drop since 2022 following a report by the South China Morning Post that linked its AI platform, Ernie, to the People's Liberation Army's AI platform. The report has raised concerns about potential sanctions from the US, which could impact Baidu's business. Despite the popularity of Ernie, Baidu faces intense competition in the AI space, and the military allegations add to the company's challenges.

Portfolio Pulse from Benzinga Neuro

January 15, 2024 | 6:57 am

BZFD

GOOGL

META

MSFT

The IMF warns that AI could influence 40% of global jobs, with advanced economies facing up to 60% of jobs affected. This could worsen income inequality and social tensions. Companies like Buzzfeed Inc are investing in AI, raising job security concerns. The EU is progressing with AI legislation, while the US is still deciding on regulations. Tech giants like Microsoft, Alphabet, and Meta are focusing on AI and cost control, despite business growth.

Portfolio Pulse from Benzinga Neuro

January 15, 2024 | 6:22 am