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Regulatory

GOOG

GOOGL

MSFT

TCEHY

Google offered a $147 million deal to Epic Games to secure the debut of Fortnite on the Play Store, aiming to prevent the potential loss of substantial in-app purchase fees. The offer was rejected by Epic Games. Google also allegedly offered a $18 million deal to rival Riot Games, owned by Tencent Holdings, and incentives worth $360 million to Microsoft-owned Activision Blizzard to keep its games on the Play Store. The outcome of the ongoing antitrust lawsuit could impact the future of app distribution and in-app purchases.

Portfolio Pulse from Rounak Jain

November 09, 2023 | 11:23 am

TSLA

Indian Commerce Minister, Piyush Goyal, is planning a meeting with Tesla's CEO, Elon Musk, to discuss Tesla's entry into the Indian market. The meeting will focus on Tesla's plans to set up a manufacturing base in India, including the production of a budget-friendly $24,000 electric vehicle, local component sourcing, and a comprehensive charging network. A key point of discussion will be India's evolving electric vehicle (EV) policy, which may allow automakers to import fully assembled EVs at a reduced tax rate of 15%, provided they commit to local production.

Portfolio Pulse from Shomik Sen Bhattacharjee

November 09, 2023 | 11:11 am

GOOG

TSLA

Alphabet's autonomous driving technology unit, Waymo, is facing criticism for its post-collision responses. A social media user posted a video showing a Waymo vehicle obstructing emergency responders, highlighting the need for autonomous vehicles to react to unexpected scenarios. Tesla CEO Elon Musk agreed, stating that advanced AI is needed for real-world driving. Waymo responded that the video was old and that it has made significant improvements since then. This comes as Cruise, another autonomous vehicle company, issued a recall for a subsystem within its automated driving systems due to issues with its post-collision response.

Portfolio Pulse from Anan Ashraf

November 09, 2023 | 11:03 am

FXI

SPY

China's central bank has announced plans to strengthen supervision of cross-border yuan transactions and support the development of the offshore yuan market. It also aims to steadily promote bilateral local currency swaps and promote direct trading of the yuan against foreign currencies.

Portfolio Pulse from Charles Gross

November 09, 2023 | 10:44 am

AZN

AstraZeneca announced positive results from the EMERALD-1 Phase III trial of its drug Imfinzi in combination with transarterial chemoembolisation (TACE) and bevacizumab for liver cancer. The trial showed a significant improvement in progression-free survival (PFS) versus TACE alone.

Portfolio Pulse from Charles Gross

November 09, 2023 | 9:54 am

TSLA

Tesla Inc (NASDAQ:TSLA) has recalled nearly 160 Model S and X vehicles due to incorrect airbag installation. The inconsistency between the airbag and the steering wheel might be a result of the customer switching between steering wheel choices. The service operator might have switched the steering wheel and subsequently equipped it with the incorrect driver airbag variant.

Portfolio Pulse from Anan Ashraf

November 09, 2023 | 9:39 am

BTCUSD

GBTC

The Securities and Exchange Commission (SEC) has initiated discussions with Grayscale Investments regarding its proposed spot Bitcoin ETF. The crypto sector is keenly awaiting the SEC’s approval of such ETF applications, as it is seen as a key event that could expand retail investors’ access to digital assets. Grayscale has been in regular communication with the SEC’s Division of Trading and Markets and the Division of Corporation Finance, following its legal victory in court.

Portfolio Pulse from Mehab Qureshi

November 09, 2023 | 5:50 am

TSLA

Tesla Inc (NASDAQ:TSLA) has expanded its warning of federal tax credit reductions to include 'certain vehicles', not just the Model 3. The company's website now advises prospective buyers to take their deliveries before the end of the quarter to guarantee a full incentive of $7,500. Previously, the warning was limited to the Model 3, with a 'strong likelihood' of tax credit reductions to $3,750 after Dec. 31.

Portfolio Pulse from Anan Ashraf

November 09, 2023 | 5:33 am

BTCUSD

Economist Nouriel Roubini, known for his criticism of cryptocurrencies, has launched his own stablecoin, the Atlas Climate Token (ACT). The move has been criticized by Binance CEO Changpeng Zhao, who accused Roubini of using the Binance logo without permission. ACT is designed to be pegged to a portfolio of real-world assets, and Atlas is in discussions with top-tier ETF issuers and distributors for the launch of an ETF.

Portfolio Pulse from Mehab Qureshi

November 09, 2023 | 4:58 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) surged on Wednesday evening in anticipation of the Securities and Exchange Commission's (SEC) decision on 12 pending Bitcoin ETF applications. The BlackRock iShares Spot Bitcoin ETF and the conversion of the Grayscale Bitcoin Trust could potentially receive approval. Analysts predict that Bitcoin could rally above $600K. The global crypto market cap stands at $1.33 trillion, reflecting an increase of 0.92% in the past 24 hours.

Portfolio Pulse from Mehab Qureshi

November 09, 2023 | 2:41 am