Streetbeat News

Regulatory

AAPL

Beeper Mini, an 'iMessage for Android' app, is operational again after being shut down by Apple Inc. (NASDAQ:AAPL). The app allows Android users to send messages to iPhone users but now requires an Apple ID for sign-in, as phone number registration is not available. The app has been made free and features improvements like opening chats at the last unread message. Apple's previous termination of Beeper Mini led to criticism from Senator Elizabeth Warren, who accused Apple of protecting profits over user security.

Portfolio Pulse from Rounak Jain

December 12, 2023 | 7:18 am

BTCUSD

Binance's market share plummeted from 55% to 30.1% in 2023 due to regulatory challenges and top-level exits. The exchange's monthly spot volumes dropped over 70%, from $474 billion to $114 billion. Binance settled legal disputes with the CFTC for nearly $3 billion, and with the Department of Justice and Treasury Department. Despite the decline, Binance remains the largest crypto exchange, while OKX's market share grew. Bitcoin's price was slightly down at the time of reporting.

Portfolio Pulse from Mehab Qureshi

December 12, 2023 | 7:04 am

AMZN

Sean Cassidy, the director of safety, flight operations, and regulatory affairs for Amazon's drone delivery unit, has left the company. His departure is a setback for Amazon's Prime Air program, where he played a crucial role in liaising with the FAA. Despite obtaining Part 135 certification from the FAA, Amazon's drone program has faced challenges, including layoffs, regulatory issues, and a recent crash under investigation. Amazon has expanded drone delivery services in Texas and announced plans for the UK, Italy, and another US state.

Portfolio Pulse from Benzinga Neuro

December 12, 2023 | 6:38 am

TSLA

Tesla Inc (NASDAQ:TSLA) defended its Autopilot system against a critical Washington Post article, emphasizing the system's safety and the moral imperative to expand its user base. Tesla refuted the article's claims by stating that Autopilot reduces crash incidence and that drivers maintain control even when using the system. The Washington Post reported on serious crashes involving Autopilot, suggesting Tesla has not taken steps to limit its use geographically, despite having the technical capability.

Portfolio Pulse from Anan Ashraf

December 12, 2023 | 6:29 am

GOOG

GOOGL

Google has updated its ad policies to allow advertising for cryptocurrency coin trusts targeting the U.S. market, effective December 6. This change could benefit potential Bitcoin spot ETFs, as companies like BlackRock, ARK Invest, and Grayscale may be able to advertise their products if approved by the SEC. The SEC's decision on 13 ETF applications is expected by January 10. Bitcoin's price was at $41,472, down 1.51% at the time of the report.

Portfolio Pulse from Mehab Qureshi

December 12, 2023 | 5:38 am

GOOG

GOOGL

Google, a subsidiary of Alphabet Inc., is set to shut down its Google Play Movies & TV service in January. Users are being transitioned to the Google TV app and YouTube for accessing their purchased content. This move follows a federal jury ruling against Google's Android app store in an antitrust lawsuit by Epic Games, which highlighted misuse of antitrust barriers affecting consumers and developers.

Portfolio Pulse from Ananya Gairola

December 12, 2023 | 4:10 am

BTCUSD

DOGEUSD

ETHUSD

Bitcoin experienced its sharpest daily decline in nearly four months, leading to $236.04 million in liquidations across the crypto market. Ethereum and Dogecoin showed mixed performance. Analysts suggest Bitcoin could bounce back from the $39,500-40,000 level to above $42,000, potentially establishing a new range before year-end. The S&P 500 and Nasdaq Composite rose, with investors awaiting key inflation data that could influence Federal Reserve rate policy decisions.

Portfolio Pulse from Mehab Qureshi

December 12, 2023 | 3:12 am

NVDA

U.S. Commerce Secretary Gina Raimondo announced scrutiny of Nvidia Corp's (NASDAQ:NVDA) new AI accelerators for China to ensure compliance with U.S. export controls. Nvidia is developing these chips in accordance with strict guidelines, aiming to provide compliant data center solutions globally. The Commerce Department is committed to updating rules to address threats but has not indicated plans to restrict Nvidia's new chips. This follows chip industry concerns that tighter restrictions could harm U.S. businesses and aid China's chip industry.

Portfolio Pulse from Benzinga Neuro

December 12, 2023 | 3:05 am

GOOG

GOOGL

MSFT

Elon Musk's AI chatbot Grok is accused of copying OpenAI's ChatGPT responses and codebase. A user highlighted that Grok's disclaimer matched ChatGPT's, raising suspicions of codebase plagiarism. OpenAI, backed by Microsoft, responded with a snarky comment, to which Musk replied, hinting at OpenAI's use of data from social platforms. The incident reflects ongoing tensions between Musk and OpenAI's Sam Altman, and has led to Musk restricting access to X (formerly Twitter) and Reddit implementing strategies to monetize data access for companies like OpenAI and Google.

Portfolio Pulse from Rounak Jain

December 12, 2023 | 2:20 am

GOOG

GOOGL

A federal jury ruled that Google's Android app store, operated by Alphabet Inc, has unfairly maintained antitrust barriers, negatively impacting consumers and developers. The lawsuit, initiated by Epic Games, concluded with a unanimous verdict against Google after a four-week trial. U.S. District Judge James Donato will decide on remedial actions for Google's Play Store practices. The case highlights Google's control over app distribution and commission fees, contrasting with a previous loss by Epic against Apple.

Portfolio Pulse from Benzinga Neuro

December 12, 2023 | 1:10 am