Streetbeat News

Regulatory

GOOG

GOOGL

META

Google has reached a $250 million deal with California to fund newsrooms, ending proposed legislation that would have required tech companies to pay for news content. The deal, which includes an AI accelerator, has been criticized by journalist unions.

Portfolio Pulse from Benzinga Neuro

August 22, 2024 | 10:55 am

BTCUSD

FTX, a cryptocurrency trading platform that filed for bankruptcy in November 2022, has received preliminary approval for its reorganization plan from creditors, with over 95% support. This development follows a tumultuous period involving legal challenges and asset recovery efforts.

Portfolio Pulse from Benzinga Neuro

August 22, 2024 | 10:46 am

GM

GM's autonomous driving unit, Cruise, is recalling all 1,194 of its U.S. vehicles due to concerns over unexpected braking caused by older software versions. The NHTSA has closed its investigation but may take further action if necessary. Cruise has updated the software and plans to repair all affected vehicles before redeployment.

Portfolio Pulse from Anan Ashraf

August 22, 2024 | 10:30 am

LQDA

Liquidia has filed a lawsuit challenging the FDA's decision to grant 3-year exclusivity to Tyvaso DPI, delaying the final approval of its own drug, YUTREPIA, until May 2025.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2024 | 10:05 am

BIIB

Eisai and Biogen's Alzheimer's drug Leqembi receives its first European approval in Great Britain. The drug, targeting early Alzheimer's, showed positive results in clinical trials.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2024 | 9:13 am

NMIH

NMI Holdings has provided a capital update under the revised PMIERs framework, confirming $1.14 billion in excess funding. The company expects to remain compliant with both existing and revised PMIERs standards.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2024 | 7:56 am

MSFT

Midjourney has opened its web experience to the public, offering free trials amid controversy over unauthorized use of artists' work. The company faces backlash and legal challenges for allegedly using copyrighted works to train its AI. Microsoft and xAI are also under scrutiny in the AI art generator industry.

Portfolio Pulse from Benzinga Neuro

August 22, 2024 | 7:15 am

TSLA

The U.S. National Transportation Safety Board (NTSB) has opened an investigation into a crash involving a Tesla Semi truck in California. The incident, which occurred on August 19, involved the truck running off the road and its battery catching fire, causing a traffic standstill. Tesla is currently in pilot production of the Semi, with plans to start full production by the end of 2025.

Portfolio Pulse from Anan Ashraf

August 22, 2024 | 7:09 am

BTCUSD

El Salvador plans to educate 80,000 public servants on Bitcoin as part of its initiative to integrate cryptocurrency into governance. This move follows the country's adoption of Bitcoin as legal tender and its ongoing efforts to incorporate it into public administration and economic infrastructure.

Portfolio Pulse from Aniket Verma

August 22, 2024 | 6:29 am

SCHW

TD

Charles Schwab shares dropped over 4% after-hours as TD Bank reduced its stake in the company following a $2.6 billion provision for potential anti-money laundering fines. TD Bank's stake in Schwab decreased from 12.3% to 10.1%.

Portfolio Pulse from Benzinga Neuro

August 22, 2024 | 6:26 am