Streetbeat News

Regulatory

MA

V

China has requested Visa Inc. and Mastercard Inc. to reduce their bank card transaction fees for foreign card transactions. The Payment & Clearing Association of China is negotiating with these companies to lower fees from 2-3% to 1.5%. This initiative aims to simplify payments for international visitors in China.

Portfolio Pulse from Benzinga Neuro

June 21, 2024 | 9:51 am

AMZN

FTXR

GM

GOOGL

RPV

General Motors' Cruise unit has been fined $112,500 by California regulators for delayed reporting of a self-driving car accident. The incident has led to increased scrutiny of autonomous vehicle safety and regulatory requirements for reporting collisions. Despite the suspension of its permit in California, Cruise has resumed operations with human-driven vehicles in Phoenix, Arizona. GM's stock has gained 29% in the past year.

Portfolio Pulse from Shivani Kumaresan

June 21, 2024 | 9:31 am

DJT

Shares of Trump Media & Technology Group Corp. (NASDAQ:DJT) fell nearly 15% on Thursday, significantly impacting Donald Trump's net worth, which dropped by $523 million. The decline follows the SEC's approval of a shelf registration statement, allowing the company to offer additional shares and warrants. Trading volume was notably high, and the stock has been on a downtrend since June, exacerbated by Trump's legal issues.

Portfolio Pulse from Shanthi Rexaline

June 21, 2024 | 9:20 am

CVU

CPI Aerostructures has settled with the SEC over financial restatements. The company aims to remediate its internal control weaknesses by December 31, 2024, and will disclose its compliance in the 2024 Annual report. Failure to comply will result in a $400,000 penalty.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 6:45 am

SNY

Sanofi is set to present new data on ALTUVIIIO and fitusiran at the ISTH conference, highlighting their potential in treating hemophilia. Interim results from the XTEND-ed phase 3 study show ALTUVIIIO's efficacy in bleed protection, while the ATLAS phase 3 study data support fitusiran's prophylactic potential. The FDA has accepted a New Drug Application for fitusiran, with a PDUFA date of March 28, 2025.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 5:42 am

BDNNY

The U.S. Department of Justice (DOJ) will focus on a consumer protection lawsuit against ByteDance-owned TikTok, specifically targeting children's privacy violations. The DOJ will drop claims that TikTok misled U.S. consumers about data access by Beijing-based employees. This decision follows a referral from the Federal Trade Commission (FTC) and comes amid ongoing legal battles between TikTok and the U.S. government.

Portfolio Pulse from Ananya Gairola

June 21, 2024 | 4:00 am

BTCUSD

ETHUSD

Worldcoin, a blockchain-based identity verification project founded by Sam Altman, surged over 7% after Kenyan authorities discontinued an inquiry into the project's alleged misuse of personal data. This significant gain outstripped those of Bitcoin and Ethereum, which remained stable. Worldcoin's trading volume also jumped 74% to $275 million.

Portfolio Pulse from Aniket Verma

June 21, 2024 | 3:21 am

BTCUSD

ETHUSD

SOLUSD

3iQ Corp has filed a preliminary prospectus to launch North America's first Solana-based exchange-traded product (ETP) in Canada under the ticker QSOL. This move aligns with the growing interest in cryptocurrency ETFs, although there is skepticism about the near-term feasibility of such ETFs in the U.S. due to regulatory hurdles.

Portfolio Pulse from Aniket Verma

June 21, 2024 | 2:48 am

AAPL

BABA

BIDU

Apple's AI expansion in China faces significant challenges due to stringent local regulations and rising competition from local companies like Huawei. The company may need to develop localized AI models and consider partnerships with Chinese tech giants such as Baidu and Alibaba to comply with regulations and succeed in the market.

Portfolio Pulse from Benzinga Neuro

June 21, 2024 | 2:06 am

QLI

Trading for QLI was halted at 7:50:00 p.m. ET due to pending news. Investors should stay tuned for further updates.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 11:50 pm