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Regulatory

META

Meta Platforms Inc. (NASDAQ:META) has introduced a paid, ad-free version of Facebook and Instagram in Europe due to new privacy regulations. The subscription is priced at around $20 per month, with an additional fee for extra linked profiles starting March 1. This move is in response to changing laws and offers users a choice between an ad-free experience or the standard free version with personalized ads. The ad-free service is for users 18 and older, and there are no plans to integrate ads into WhatsApp, another Meta-owned platform.

Portfolio Pulse from Benzinga Neuro

November 11, 2023 | 9:18 am

AAPL

Apple Inc. (AAPL) is reportedly preparing for app sideloading on iPhones with its latest iOS 17.2 update, potentially in compliance with the EU's Digital Markets Act. The update includes a new 'Managed App Distribution' framework that could allow third-party app stores, although it may be region-locked to where legally required. This move could impact Apple's App Store business model.

Portfolio Pulse from Rounak Jain

November 11, 2023 | 5:59 am

AAPL

AMZN

Apple Inc. (AAPL) has reportedly made a special arrangement with Amazon.com Inc. (AMZN) to ensure a cleaner presentation of its products on Amazon's website, with fewer ads for competing products displayed on Apple's product pages. This agreement, stemming from a 2018 deal allowing Apple to sell directly on Amazon, was highlighted in an internal email from Amazon's then-retail CEO, Jeff Wilke. The FTC is currently suing Amazon for using 'irrelevant junk ads' to increase ad revenue, a practice allegedly initiated by founder Jeff Bezos.

Portfolio Pulse from Rounak Jain

November 11, 2023 | 3:00 am

BLK

BlackRock (NYSE:BLK), the world's largest asset manager, is reportedly 'increasingly confident' that the SEC will approve its spot Bitcoin ETF by January 2024. A former BlackRock manager suggested that such approval could lead to $200 billion flowing into Bitcoin markets, potentially raising Bitcoin's price to $330,000. The SEC is expected to decide on twelve ETFs by November 17, with experts predicting a 90% chance of approval by January 10, 2024. Additionally, BlackRock has registered an iShares Ethereum Trust, indicating a possible future application for a spot Ethereum ETF.

Portfolio Pulse from Benzinga Neuro

November 11, 2023 | 2:50 am

AMZN

GOOGL

MSFT

Alphabet Inc.'s Google is in discussions to invest hundreds of millions in AI startup Character.AI, which uses Google's cloud services and TPUs. Character.AI, co-founded by ex-Google employees, offers chatbots and AI assistants, and is seeking funds to manage growth and user demand. The investment could be in the form of convertible notes. Character.AI is also pursuing equity funding, potentially valuing it over $5 billion. The FTC is scrutinizing cloud provider investments in AI startups for anti-competitive practices.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 11:39 pm

SPY

U.S. Deputy Treasury Secretary Adeyemo expressed disagreement with the recent shift to a negative outlook on the U.S. economy, asserting that the American economy remains strong.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 11:38 pm

SPY

Moody's has expressed concerns that the United States' debt affordability will continue to decline, reaching very weak levels compared to other highly-rated sovereigns. This trend is expected to be steady and significant, indicating potential challenges for the US in managing its debt.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 11:34 pm

SPY

Moody's has indicated that downside risks to the US' fiscal strength have risen, potentially outweighing its unique credit strengths. The agency anticipates persistent large fiscal deficits, leading to a substantial weakening of debt affordability.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 11:33 pm

META

Sen. Josh Hawley and Congressman Mike Gallagher are calling for a ban on TikTok, citing its pro-Palestinian and anti-Israeli content. The New York Times reported higher engagement for #FreePalestine than Israeli hashtags on TikTok since an attack by Hamas on Oct. 7. Gallagher suggested China might be influencing content to favor Palestine, but no evidence was provided. The article also explores reasons for TikTok's user base leaning pro-Palestinian, including its young demographic and the app's absence in India, an ally of Israel. Meta Platforms' Instagram and Twitter see more pro-Israel content from Indian users, unlike TikTok.

Portfolio Pulse from Aaron Bry

November 10, 2023 | 9:57 pm

BA

LUV

A Southwest Airlines executive has stated that the company is working with the assumption that Boeing's 737 Max 7 plane will be certified by April 2024, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 9:43 pm