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Regulatory

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GM

SPY

TSLA

The Biden administration plans to purchase 9,500 electric vehicles (EVs) for government fleets in the current budget year, according to a government report cited by Reuters. The move is part of the administration's efforts to transition to clean energy and reduce carbon emissions.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 7:23 pm

EWG

SPY

The U.S. State Department has approved a potential sale of air-to-air missiles to Germany at an estimated cost of $2.9 billion, according to the Pentagon.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 7:08 pm

SPY

TSLA

The U.S. House Panel is set to hold a legislative hearing on July 26 regarding two draft proposals on self-driving technology. The outcome of this hearing could potentially impact companies involved in the autonomous vehicle industry.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 6:47 pm

TRSSF

The New York State Cannabis Control Board (NYCCB) has decided to add 212 additional retail dispensary licenses, bringing the total to 463. The move is part of the state's delayed rollout of legal cannabis. Jason Wild, executive chairman of Terrascend Corp (OTC: TRSSF), criticized the slow rollout, suggesting that the state lost out on millions in tax revenue and hurt stakeholders.

Portfolio Pulse from Maureen Meehan

July 19, 2023 | 6:34 pm

BLK

BTCUSD

The U.S. Securities and Exchange Commission (SEC) is initiating the approval process for Spot Bitcoin ETFs, with eight applicants listed on the federal register. Leading asset management firms, BlackRock and Fidelity, are among the entities that have submitted applications. The SEC has yet to approve any such service, but the involvement of established financial institutions has led to speculation that this may soon change.

Portfolio Pulse from Murtuza Merchant

July 19, 2023 | 6:23 pm

BLK

BTCUSD

NDAQ

Nasdaq Inc has decided to halt its plans to offer a cryptocurrency custody service due to business and regulatory challenges, according to CEO Adena Friedman. The company had been expecting approval from the New York Department of Financial Services to start providing custody services. However, Nasdaq plans to continue developing technology to position itself as a leading digital assets software solutions provider. In collaboration with BlackRock Inc, Nasdaq proposed a spot Bitcoin ETF, which is currently under review by the SEC.

Portfolio Pulse from Murtuza Merchant

July 19, 2023 | 6:03 pm

MCD

Strive, representing McDonald's shareholders, has expressed concerns over the company's diversity policies, which it deems potentially illegal and value-destroying. Strive highlights the legal and business risks associated with McDonald's adoption of race- and gender-based targets, and the potential lawsuits and regulatory actions that could follow. It also points out the financial risks, as studies show that hiring based on race and sex rather than merit does not improve financial performance. Strive urges McDonald's to rescind its diversity targets and commit to merit-based decision-making.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 6:03 pm

ETHUSD

On Tuesday, 6,384.05 Ether (ETH) worth $12,203,624 was burned from Ethereum transactions. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and includes a variable base fee that is burned, permanently removing it from circulation. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was -8.08%.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 6:00 pm

CWBR

CohBar has received a Notice of Allowance for its U.S. patent application titled 'Therapeutic Peptides (for the treatment of metabolic disease, cancer, liver disease, and methods of modulating fatty acid metabolism)'. This could potentially strengthen the company's intellectual property portfolio and provide a competitive edge in the market.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 5:58 pm

AMLYX

Amylyx Pharmaceuticals Canada has entered into a Product Listing Agreement with British Columbia for the public reimbursement of ALBRIOZA, a drug used in the treatment of amyotrophic lateral sclerosis (ALS). British Columbia is the third province to provide public reimbursement for the drug. The decision ensures that British Columbians living with ALS who rely on public coverage can access timely treatment.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 5:56 pm