Streetbeat News

Regulatory

ABNB

New York City's Local Law 18, introduced on Sept. 5, imposes stringent measures on short-term rental hosts, including a requirement for hosts to live in the place they're renting and be present during the guest's stay, and a cap on guest numbers. The law threatens to transform the landscape of short-term rentals in the city and could spell the end of Airbnb's business model there. Airbnb has begun canceling and refunding reservations in unregistered accommodations from Dec. 2 onwards, but some entire apartments for over two people are still available to book beyond Sept. 5, contravening the city’s registration requirements.

Portfolio Pulse from AJ Fabino

September 20, 2023 | 3:58 pm

ACB

CGC

TLRY

A revised bipartisan marijuana banking bill, the Secure and Fair Enforcement Regulation (SAFER) Banking Act, has been filed in the Senate. The bill aims to give legal cannabis businesses access to traditional financial institutions, including bank accounts and small business loans. The legislation also requires federal banking regulators to work with state banking supervisors and the secretaries of commerce and treasury to form rules or guidance to increase access to deposit accounts for businesses and customers. The bill is set to receive a markup in the Senate Banking Committee on September 27.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 3:47 pm

SPY

USO

VGK

Russia's Deputy Prime Minister Novak has announced that the country will be reducing its oil exports by 300,000 barrels per day from the average level seen in May-June until the end of the year.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 3:41 pm

QQQ

TQQQ

ProShares UltraPro QQQ (TQQQ) shares are trading flat ahead of the Federal Reserve's interest rate decision. The ETF corresponds to three times the daily performance of the NASDAQ-100 (QQQ) ETF. Changes in interest rates can significantly impact the valuation of tech and internet-related stocks that make up the NASDAQ-100 Index. The consensus view is that the Fed will likely maintain its current interest rates.

Portfolio Pulse from Henry Khederian

September 20, 2023 | 3:37 pm

SPY

Senate Majority Leader Chuck Schumer and Senators Jeff Merkley, Steve Daines, Kyrsten Sinema, and Cynthia Lummis have announced the Secure and Fair Enforcement Regulation Banking Act.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 3:34 pm

EIS

SPY

U.S. President Biden has reaffirmed the U.S.'s commitment to Israel, describing it as 'ironclad'.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 2:56 pm

ICCM

The FDA has denied IceCure Medical Ltd's (NASDAQ:ICCM) De Novo Classification request for the ProSense System for breast cancer. This decision does not affect ProSense's FDA-cleared authorization for other indications in the U.S. IceCure is addressing the FDA's response and continues its ICE3 clinical study, expected to be completed in Q1 2024. ICCM shares are down 35.80%.

Portfolio Pulse from Vandana Singh

September 20, 2023 | 2:51 pm

AVAV

UAVS

UPS

VISL

The Federal Aviation Administration (FAA) has granted approval to several drone operators, including Zipline, UPS subsidiary Flight Forward, uAvionix, and Phoenix Air Unmanned, to fly drones beyond the visual line of sight. This is a significant milestone for the U.S. drone industry and will pave the way for other companies to receive streamlined approvals in the future. The new regulations will increase the accessibility and scalability of drone operations in the U.S., allowing for more efficient delivery of goods and services.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 2:27 pm

CGC

Canopy Growth Corp has filed for an offering of up to 45.9 million shares of common stock by the selling securityholders, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 2:08 pm

SPY

VGK

U.S. President Biden is expected to announce a significant military aid package for Ukraine on Thursday, according to a U.S. official cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 2:05 pm