Streetbeat News

Regulatory

AAPL

Walter Isaacson, a well-known biographer, has stated that Apple Inc. (NASDAQ:AAPL) could be the most affected US company if economic tensions between the US and China continue to rise. Isaacson believes that Apple will find it challenging to decrease its reliance on China, which manufactures the majority of its products. His comments come after reports of sluggish iPhone 15 sales in China and difficulties faced by Apple's production side in the country.

Portfolio Pulse from Benzinga Neuro

October 25, 2023 | 4:23 am

GM

GOOGL

TSLA

General Motors' autonomous vehicle subsidiary, Cruise, is pausing operations in San Francisco following a suspension from the California Department of Motor Vehicles (DMV) due to 'unreasonable risk' to public safety. The suspension comes after an accident involving a Cruise vehicle. Despite the incident, Cruise maintains that its vehicles are safer than human drivers in urban environments. The suspension could increase uncertainty for Alphabet's Waymo and Tesla's future autonomous robotaxi, potentially raising regulatory hurdles and decreasing customer uptake for autonomous ride-hailing due to safety concerns.

Portfolio Pulse from Anan Ashraf

October 25, 2023 | 3:27 am

BLK

BTCUSD

BlackRock Inc.'s proposed iShares Bitcoin ETF, known as IBTC, reappeared on the Depository Trust and Clearing Corporation (DTCC) website after a brief disappearance. The initial listing of the ETF on the DTCC site led to a surge in Bitcoin's value, exceeding $35,000 before stabilizing around $33,000. The ETF's sudden withdrawal and subsequent reappearance stirred the market, with its initial presence linked to Bitcoin's brief surge and its disappearance leading to a 3% drop in Bitcoin's value.

Portfolio Pulse from Benzinga Neuro

October 25, 2023 | 3:10 am

TSLA

Republican presidential candidate Vivek Ramaswamy and Tesla CEO Elon Musk have expressed mutual support for the legalization of cannabis and certain psychedelics. Both also share concerns about the current global situation, with Musk warning of the potential civilizational risk posed by complacency and entitlement. Musk also stressed the need for peace in Ukraine and normal relations with Russia to prevent pushing Russia towards other allies like China.

Portfolio Pulse from Maureen Meehan

October 25, 2023 | 3:06 am

BTCUSD

DOGEUSD

ETHUSD

Bitcoin, Ethereum, and Dogecoin saw gains, with the global cryptocurrency market cap rising 0.47% to $1.25 trillion. The rally was fueled by expectations surrounding Bitcoin Spot ETFs. The listing of iShares Bitcoin Trust on the Depository Trust & Clearing Corporation (DTCC) drove Bitcoin's momentum. The iShares Bitcoin ETF reappeared on DTCC's website after disappearing earlier. Analysts suggest that Bitcoin is in an upward trend and 4-8% dips are entries towards $38K.

Portfolio Pulse from Shivdeep Dhaliwal

October 25, 2023 | 2:23 am

BTCUSD

Influential investor Peter Schiff has expressed skepticism about the anticipated demand for a new Bitcoin ETF, suggesting that the number of Bitcoin speculators ready to sell far outpaces the would-be buyers waiting for the ETF. This comes amidst high speculation around a possible Bitcoin ETF approval by the SEC, which has led to Bitcoin's price increasing by 19.9% over the week.

Portfolio Pulse from Benzinga Neuro

October 25, 2023 | 12:55 am

MA

V

Mastercard Inc (NYSE:MA) plans to partner with self-custody wallet firms such as MetaMask and Ledger to expand its product roster. The company aims to assist wallet providers in increasing active users, building loyalty, and generating additional revenue streams. Mastercard also plans to issue a card targeting the EU or U.K. as the first market for smoother transactions without pre-funding, spending crypto, or dealing with taxes. Despite regulatory challenges, Mastercard and Visa continue to enhance their digital and crypto initiatives.

Portfolio Pulse from Khyathi Dalal

October 24, 2023 | 10:23 pm

BLK

The Securities and Exchange Commission (SEC) has fined BlackRock Advisors, LLC (NYSE:BLK) $2.5 million for allegedly misrepresenting substantial investments in the entertainment sector related to a publicly traded fund under its guidance. The SEC found that BlackRock mislabeled Aviron Group, LLC as a 'Diversified Financial Services' entity and reported a higher interest rate paid by Aviron than what was factual. BlackRock has agreed to a settlement involving a penalty of $2.5 million.

Portfolio Pulse from Murtuza Merchant

October 24, 2023 | 9:11 pm

SFR

Appreciate Holdings, Inc. (NASDAQ:SFR), the parent company of Renters Warehouse, has received a notice from Nasdaq stating that it did not meet the terms of the exception granted to regain compliance with Nasdaq's filing requirements. As a result, trading of the company's common stock will be suspended from The Nasdaq Global Market from October 27, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 9:02 pm

C

Euroclear has successfully settled its inaugural digital note, a World Bank offering on the Luxembourg Stock Exchange, which amassed 100 million euros ($106 million) dedicated to sustainable development initiatives. This event marks the commencement of Euroclear's digital securities settlement service. Citibank acted as the issuing and payment agency while TD Securities served as the dealer and Euroclear Bank functioned as the central securities depository for the issuer.

Portfolio Pulse from Murtuza Merchant

October 24, 2023 | 8:55 pm