Streetbeat News

Regulatory

VEV

Vicinity Motor Corp shares fell after PricewaterhouseCoopers resigned as its auditor. The company anticipates that the BC Securities Commission will halt trading of its stock by October 21.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2024 | 6:06 pm

AFRM

PYPL

The Consumer Financial Protection Bureau (CFPB) is introducing a rule to regulate Buy Now, Pay Later (BNPL) services similarly to credit cards. This move could impact companies like Affirm and PayPal, which offer BNPL services.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2024 | 6:03 pm

NVS

The European Medicines Agency's panel has supported the approval of Novartis' Kisqali for early breast cancer treatment, based on positive trial results. The European Commission will make a final decision in two months.

Portfolio Pulse from Vandana Singh

October 18, 2024 | 5:37 pm

SPY

Federal Reserve's Raphael Bostic emphasized the need for continued vigilance on inflation, despite significant progress. He noted the strength of the labor market and the substantial reduction in inflation, but stressed the importance of completing the task.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2024 | 5:36 pm

BEN

The Department of Justice (DOJ) is intensifying its investigation into Ken Leech, with Wamco clients being questioned. This development could have implications for Franklin Resources, Inc. (BEN), as it is potentially linked to the probe.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2024 | 5:30 pm

SNY

Sanofi is negotiating the sale of a 50% stake in its consumer healthcare business, Opella, with CD&R, while PAI Partners has increased its bid. The French government may block the sale due to national interests. Sanofi's stock was slightly down.

Portfolio Pulse from Vandana Singh

October 18, 2024 | 5:30 pm

SPY

Federal Reserve's Bostic stated that the policy rate needed adjustment due to shifting risks, with a neutral rate estimated between 3% and 3.5%. The Fed is not rushing to reach this neutral rate and expects to achieve 2% inflation by the end of 2025.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2024 | 5:29 pm

NVO

TSVT

Novo Nordisk's hemophilia drug Alhemo receives a positive opinion from the European Medicines Agency's CHMP, recommending its approval as a once-daily treatment for hemophilia A or B with inhibitors. The drug has shown significant efficacy in reducing bleeding episodes.

Portfolio Pulse from Vandana Singh

October 18, 2024 | 5:21 pm

COIN

PYPL

The EU's Markets in Crypto Assets (MiCA) regulation introduces a new era for the crypto industry, impacting stablecoin issuers and exchanges. Coinbase plans to delist non-compliant stablecoins, while PayPal and Circle have taken steps to align with MiCA. The regulation aims to enhance consumer protection and integrate crypto into traditional finance.

Portfolio Pulse from European Capital Insights

October 18, 2024 | 5:13 pm

SPY

Federal Reserve's Waller did not comment on monetary policy or the economic outlook in his prepared remarks on decentralized finance.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2024 | 4:12 pm