Streetbeat News

Regulatory

MGM

MGM Resorts International's bid for casino licenses in the New York City area could be in jeopardy following the departure of Resorts World head Scott Sibella, according to a report by the NY Post. The report suggests that the recent scandal involving Las Vegas bookies could potentially disrupt the NYC casino race.

Portfolio Pulse from Charles Gross

September 19, 2023 | 8:56 am

UBS

UBS has reported that South Korea, India, Ireland, and Saudi Arabia are slow in granting approvals related to the takeover of Credit Suisse. This could lead to winding down businesses and asset sales due to uncertainties in securing regulatory approvals, according to an internal document cited by Reuters.

Portfolio Pulse from Charles Gross

September 19, 2023 | 8:43 am

GOOG

GOOGL

Google, a subsidiary of Alphabet Inc., has updated its 'Helpful Content' guidelines to be more accepting of artificial intelligence (AI)-generated content. The previous guidelines prioritized human-created content, but the recent update has removed this requirement, focusing instead on the helpfulness of the content, regardless of its origin. This change indicates that Google is becoming more receptive to AI-generated content.

Portfolio Pulse from Ananya Gairola

September 19, 2023 | 7:45 am

Tradeweb has announced that it will be clearing Japanese Yen swaps through the Japan Securities Clearing Corporation for institutional clients on Multilateral Trading Facilities (MTFs) and Swap Execution Facilities (SEFs).

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 6:19 am

PFE

Pfizer's LITFUL has received approval from the European Commission for the treatment of severe alopecia areata in adolescents and adults.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 6:09 am

BPTS

Biophytis has received a response from the French Health Authority for early access to its COVID-19 treatment. The company also revealed an update to its global strategy.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 6:01 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies Bitcoin, Ethereum, and Dogecoin saw gains as investors await the Federal Reserve's decision on interest rates. The outcome of the FOMC meeting could induce volatility in the top cryptocurrency. The price action of large cryptocurrencies mirrored those of stocks. Analyst Edward Moya noted that if markets don't believe the Federal Reserve will tighten again, there could be a reversal in the US dollar. Cryptocurrency trader Michaël van de Poppe suggested Bitcoin could see choppy movements before a substantial upward move.

Portfolio Pulse from Shivdeep Dhaliwal

September 19, 2023 | 3:05 am

DBO

IEO

IEZ

UCO

The U.S. and Iran have completed a prisoner swap, which also unlocked $6 billion in oil funds that the U.S. was holding from Iran. This could potentially lead to improved relations between the two nations and impact the oil sector. The U.S. has agreed to unfreeze $6 billion in Iran's name which was held in South Korea. The money came from the purchase of Iranian oil by South Korea in 2018. The U.S. sanctions that have accumulated since 1979 bar U.S.-based companies from investing in Iran's oil industry. If U.S.-Iran talks improve and the countries return to talks of a new nuclear deal, the U.S. would remove sanctions, potentially impacting oil and energy ETFs such as iShares U.S. Oil & Gas Exploration & Production ETF (BATS:IEO), ProShares Ultra Bloomberg Crude Oil (NYSE:UCO), Invesco DB Oil Fund (NYSE:DBO), and iShares US Oil Equipment & Services ETF (NYSE:IEZ).

Portfolio Pulse from Natan Ponieman

September 18, 2023 | 9:23 pm

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), and Israeli Prime Minister Benjamin Netanyahu discussed the geopolitical implications of AI and its regulation. Netanyahu asked Musk to assume the role of U.S. president to come up with a plan to reap the “blessings” from AI while deterring any “curses.” Musk spoke about his efforts to inform world leaders about the dangers and opportunities of AI, and pointed out the international challenge of AI regulation.

Portfolio Pulse from AJ Fabino

September 18, 2023 | 9:00 pm

AAWH

GTBIF

MRMD

VRNOF

The potential rescheduling of cannabis to Schedule 3 could eliminate 280e taxes, which have been negatively impacting cannabis companies by reducing their internally funded growth and limiting their debt capacity. The elimination of 280e could save these companies around $700M annually. The article mentions Ascend Wellness (OTC:AAWH), MariMed (OTC:MRMD), Green Thumb (OTC:GTBIF), and Verano (OTC:VRNOF) as companies that could benefit from this change.

Portfolio Pulse from Viridian Capital Advisors

September 18, 2023 | 8:36 pm