US Government May Liquidate Around $4.4B Bitcoin, Cyber Specialists Flag Twitter's Misinformation Concerns, Tesla's Model S, Model X Recall: Top Stories Tuesday, Nov. 08

US Government May Liquidate Around $4.4B Bitcoin, Cyber Specialists Flag Twitter's Misinformation Concerns, Tesla's Model S, Model X Recall: Top Stories Tuesday, Nov. 08

Reuters

Nvidia's New Chip May Sidestep US Ban On China Exports: What Investors Need To Know

  • Nvidia Corporation NVDA may have found a workaround for the China export ban announced by the U.S. government in late August.
  • Nvidia is offering a new chip, dubbed A800 graphic processor unit, to Chinese customers that may not be constrained by the U.S. government's export licensing requirement, a spokesperson of the chipmaker told in a statement.

Bosch Settles California Diesel Emissions Inquiry With $25M Penalty

  • German auto supplier Bosch agreed to pay $25 million to resolve California's probe into the company's role in the diesel emissions scandals at Volkswagen AG VWAGY and Stellantis N.V. STLA Fiat Chrysler.
  • Bosch allegedly provided services to Volkswagen and Fiat Chrysler "when it knew or should have known that these auto manufacturers were violating environmental and consumer protection laws," California Attorney General Rob Bonta said.
  • Under the settlement, Bosch must disclose to California if it concluded a manufacturer would use or has used software to evade emissions rules.

Financial Times

US Authority Plans Massive Expansion Of Medication Access To Combat Opioid Overdose Crisis

  • Struggling with the opioid crisis, U.S. authorities plan to substantially expand access to medications tackling opioid addiction, such as methadone, buprenorphine, and naltrexone.
  • Clinicians promoting medication face strict rules. To prescribe buprenorphine, one of the most effective medications, they must apply for waivers that require them to undertake training.
  • Providing general medication access requires sweeping reforms to remove barriers at the patient, clinician, and system levels.

Bloomberg

Amazon Could Land In Trouble As UK Packaging Workers Voted To Strike Amid Biggest Holiday Season

  • Almost 1,000 staff at packaging producer DS Smith voted to strike over pay in a move their union said will affect clients of the U.K. firm, including Amazon.com Inc AMZN at one of the busiest times for retail purchases.
  • Employees at five DS Smith sites across Britain could walk out before the end of this month, according to an email from the GMB union, which said that 93% of members had backed industrial action.

Benzinga

Tesla Investors To Brace For Recall Of 40,000 Model 3, X EVs While Stock Already Under Pressure

  • Tesla Inc TSLA is recalling over 40,000 Model S and Model X vehicles from 2017-2021. The company's stock — seemingly in reaction to the news — is down sharply in the premarket session.
  • The electric vehicle maker notified the National Highway Traffic Safety Administration about the recall on Nov. 1, and the company initiated the recall due to issues with the electronic power assist steering, or EPAS, system.

Post-Elon Musk's Takeover, Cyber Specialists Flag Twitter's Misinformation Concerns On US Midterm Eve

  • Tesla Inc CEO Elon Musk faces a test of how to manage misinformation and hate speech on Twitter as the U.S. votes in midterm elections just days after the billionaire sacked staff who policed user content.
  • Critics had already flagged Musk's plans to loosen content moderation at his newly acquired social media site when he began implementing a plan to sack half of Twitter's 7,500-strong workforce.

US Government May Liquidate Around $4.4B In Bitcoin When The Time Is Right

  • Over the last couple of years, the U.S. government has become one of the largest whales of Bitcoin (BTC/USD), with over 214,046 bitcoins at minimum.
  • The Department of Justice (DOJ) seized around 50,676.17 bitcoins (roughly $1 billion at today's prices) in November 2021 from a Bitcoin trader named James Zhong, who defrauded darknet marketplace Silk Road.
  • The seizure is notable—it's the third largest in cryptocurrency history by Crypto Briefing's count—especially considering the amount of Bitcoin the U.S. government already has under control.

Google Pixel Watch Reportedly Has A Glitch: Screen Turns Off After 15 Mins Despite AoD Being On

  • Alphabet Inc's GOOG GOOGL Google Pixel Watch's always-on display, or AOD, feature is reportedly not supporting watch faces using older development practices.
  • Some Google Pixel Watch owners have found that older watch faces don't fully support its always-on display. Due to this problem, the AOD feature turns off after about 15 minutes. The AOD performed as expected up until that time.

Medtronic Shares Fall As Blood Pressure Reduction Device Fails On Primary Goal

  • Medtronic plc MDT announced the six-month results from the full cohort of the SPYRAL HTN-ON MED trial.
  • Subjects in the Symplicity Spyral Renal Denervation (RDN) System had a statistically significant and clinically meaningful reduction in office-based systolic blood pressure (OSBP), a key secondary endpoint, compared to the sham control group.
  • However, in the primary endpoint, RDN did not demonstrate a statistically significant reduction in 24-hour ambulatory systolic blood pressure (ABPM).

DuPont Clocks 4% Sales Growth In Q3 Backed By Strength In Key End-Markets; Plans $5B Stock Buyback

  • DuPont de Nemours Inc DD Q3 sales increased 4% Y/Y to $3.3 billion. Organic growth of 11% consisted of an 8% increase in price and a 3% increase in volume.
  • Operating EBITDA margin rose 30 bps Y/Y 25.8%. Adjusted EPS was $0.82, up 4% Y/Y.
  • DuPont's board approved a new share repurchase program of up to $5 billion.

Renault Partners With Geely To Form Internal-Combustion JV

  • Renault RNLSY and Chinese automotive company Geely signed an agreement to form a new global company to develop, produce and supply advanced hybrid and low-emission powertrains.
  • Under the framework agreement, Geely and Renault Group will hold respective 50-50 equity stakes in the new company.

Renault Expands Partnership With Google To Strengthen Digital Transformation

  • Renault has expanded its partnership with Alphabet Inc's GOOG Google to accelerate the group's digitalization.
  • The partnership aims to design and deliver the digital architecture for the 'Software Defined Vehicle' (SDV).
  • The two partners will develop a set of onboard and offboard software components dedicated to the SDV and will grow synergies and use cases related to the group's Move to Cloud strategy.
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