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Regulatory

NIO

NIO Inc. (NYSE:NIO) has launched a new flagship NIO House in Hamburg, Germany, marking its fourth showroom in the country and eighth in Europe. This expansion comes amid increased tariffs on Chinese electric vehicles by the European Commission, which will impact NIO with an additional 21% tariff. Despite the challenges, NIO remains committed to the European market.

Portfolio Pulse from Nabaparna Bhattacharya

June 21, 2024 | 3:13 pm

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XPEV

The EU's proposed tariffs on Chinese EVs are lower than expected, particularly for BYD, which faces a 17.4% tariff. This has led to a positive market reaction for BYD and other Chinese EV makers. The tariffs are not expected to significantly impact the profitability of these companies in Europe. Chinese EV companies are likely to set up factories in Europe to mitigate tariff and transport costs.

Portfolio Pulse from The Bamboo Works

June 21, 2024 | 3:07 pm

BTI

The FDA has authorized the marketing of four menthol-flavored e-cigarette products after an extensive scientific review. This decision could impact companies involved in the e-cigarette market.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 2:55 pm

XRPUSD

A California judge has advanced a civil securities lawsuit against Ripple Labs, setting the stage for a trial. The court denied part of Ripple's motion for summary judgment, focusing on allegations that Ripple's CEO violated state securities laws in 2017. The trial will examine whether Ripple CEO Brad Garlinghouse made misleading statements about the sale of securities during a 2017 interview. Ripple's Chief Legal Officer expressed satisfaction with the dismissal of all class action claims, but the individual state law claim will proceed to trial.

Portfolio Pulse from Murtuza Merchant

June 21, 2024 | 2:49 pm

HMC

The National Labor Relations Board (NLRB) has accused Honda Motor Co (NYSE:HMC) of violating workers' rights at its Indiana plant by suppressing union organizing efforts. The allegations include forcing workers to remove UAW stickers, illegal surveillance, and threats of disciplinary action. If unresolved, a hearing will be held in October.

Portfolio Pulse from Benzinga Neuro

June 21, 2024 | 2:31 pm

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SWBI

The US Supreme Court has upheld a gun ban for individuals convicted of domestic violence, a decision that could impact gun manufacturers. This ruling may affect companies like Sturm, Ruger & Company (RGR) and Smith & Wesson Brands, Inc. (SWBI).

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 2:23 pm

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Canada Nickel Co.'s Crawford project in southeastern Canada, with 3.8 million metric tons of nickel reserves, aims to rival global giants in nickel production. The project is backed by Agnico Eagle Mines, Samsung SDI, and Anglo American. Production is expected to start by the end of 2027, pending permits. The Timmins area, traditionally a gold mining hub, now hosts several nickel miners.

Portfolio Pulse from Matt Whittaker

June 21, 2024 | 2:13 pm

UNH

UnitedHealth Group (NYSE:UNH) has agreed to a $1 million penalty for failing to comply with New York's contraceptive coverage law. The settlement includes refunds for affected individuals. This follows an investigation initiated by a patient complaint. Additionally, UnitedHealth is addressing a recent ransomware attack on its Change Healthcare unit.

Portfolio Pulse from Vandana Singh

June 21, 2024 | 2:13 pm

SHCRW

Trading halt status was updated at 9:55:00 AM ET, indicating a quotation resumption. The news and resumption times are provided.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 1:55 pm

SHCR

Trading halt status for SHCR was updated at 9:50:00 AM ET. The article provides information on the news and resumption times for the stock.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 1:50 pm