Latest News for DLP Resources Stock (OTC:DLPRF)

DLP Resources Inc is an operator of a mineral exploration company intended to focus on exploring base metals, cobalt, and minerals in Southeastern British Columbia. The company's mineral portfolio in Southeastern British Columbia consists of Aldridge 1, Aldridge 2, Redburn, Hungry Creek, DD, Moby Dick, and NZOU, and in Peru consists of Aurora and Esperanza, planned to design, implement and manage cost-effective and successful exploration programs.

DLP Resources Inc

<a target="_blank" href="https://www.benzinga.com/news/24/05/38754804/billionaire-investor-bill-ackman-grilled-by-wall-street-executives-for-anti-dei-views-report" rel="noreferrer noopener">Hedge-fund manager&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/05/38754804/billionaire-investor-bill-ackman-grilled-by-wall-street-executives-for-anti-dei-views-report" rel="noreferrer noopener">Bill&nbsp;Ackman</a>&#8216;s&nbsp;Pershing Square Holdings, Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PSHZF#OTC">PSHZF</a>) shed shares of a home improvement retailer and reduced its stake in a fast-casual&nbsp;diner,&nbsp;while maintaining most of its other holdings, according to a 13F report filed with the SEC on Wednesday.
Patience Wearing Thin?&nbsp;Pershing Square divested all 1.25 million shares it held in&nbsp;Lowe&#8217;s&nbsp;Companies, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) by the end of the fourth quarter, valued at $277.19 million&nbsp;at the time. Retailers are navigating a challenging economic landscape as cautious consumers withhold discretionary spending.
Lowe&#8217;s&nbsp;competitor,&nbsp;Home Depot, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>), recently reported first-quarter revenue slightly below estimates, with earnings per share meeting expectations. The company also hinted at ongoing softness in larger consumer discretionary projects.&nbsp;Lowe&#8217;s&nbsp;is set&nbsp;to announce its quarterly results on May 21.
Appetite Waning?&nbsp;Ackman&#8217;s&nbsp;firm also reduced its holdings in&nbsp;Chipotle Mexican Grill, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>). While the number of Chipotle shares decreased by 9.8%, the value of the holding increased by 14.6%. This partial sale could indicate profit-taking amid the&nbsp;stock&#8217;s&nbsp;robust performance, which has outpaced the broader market, rising nearly 39% this year.
Coincidentally,&nbsp;Ram Ahluwalia, founder of&nbsp;Lumida Wealth, an&nbsp;investment advisor specializing in alternative investments and digital assets,&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38479064/nvidia-pricey-even-with-recent-pullback-but-investor-warns-about-another-more-expen" rel="noreferrer noopener">suggested in late April</a>&nbsp;that&nbsp;Chipotle&#8217;s&nbsp;stock may have surpassed its fundamentals. He noted that the&nbsp;stock&#8217;s&nbsp;momentum could&nbsp;be waning, signaling it might be a&nbsp;&#8220;good time to take profits.&#8221;
Chipotle recently reported strong quarterly results and is awaiting shareholder approval for a 50-for-1 stock split approved by the board in March.
Interestingly, Pershing Square left its stake in&nbsp;Chipotle&#8217;s&nbsp;competitor,&nbsp;Restaurant Brands International Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>), unchanged.
Following Pershing&nbsp;Square&#8217;s&nbsp;disclosure, Ahluwalia observed that Chipotle experienced a decline on Wednesday despite the&nbsp;market&#8217;s&nbsp;record rally. He remarked,&nbsp;&#8220;Retail investors are providing the exit liquidity (chasing momentum) — and&nbsp;that's&nbsp;a bad idea&nbsp;The&nbsp;smart money is out of this name.&#8221;
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-value-stocks" rel="noreferrer noopener">Best Value Stocks</a>
Alphabet Tinkering:&nbsp;Pershing Square&nbsp;made adjustments to&nbsp;its holdings in&nbsp;Alphabet, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) by selling some Class C shares and acquiring more Class A shares. Despite the tinkering, the total number of Alphabet shares remained unchanged, while their combined value increased by 8%, reflecting first-quarter gains of a similar magnitude for both classes of stocks.
Alphabet&#8217;s&nbsp;Class C shares (trading under the ticker GOOG) lack voting rights, while Class A shares (GOOGL) confer voting rights to investors.
Here&#8217;s how Pershing Square&#8217;s Portfolio looks now:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>No of Shares</td>
<td>Change Vs. Q4&#8217;23</td>
<td>Value</td>
<td>Change Vs. Q4&#8217;23</td>
</tr>
<tr>
<td>Alphabet Class C</td>
<td>4.36M</td>
<td>-53.56%</td>
<td>$657.27M</td>
<td>-50.26%</td>
</tr>
<tr>
<td>Alphabet Class A</td>
<td>9.38M</td>
<td>+115.33%</td>
<td>$1.43B</td>
<td>+134.71%</td>
</tr>
<tr>
<td>Canadian Pacific Kansas City Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>)</td>
<td>15.10M</td>
<td> unchanged</td>
<td>$1.33B</td>
<td>+11.53%</td>
</tr>
<tr>
<td>Chipotle</td>
<td>0.74M</td>
<td>-9.82%</td>
<td>$2.16B</td>
<td>+14.62%</td>
</tr>
<tr>
<td>Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>)</td>
<td>9.18M</td>
<td> unchanged</td>
<td>$1.96B</td>
<td>+17.15%</td>
</tr>
<tr>
<td>Howard Hughes Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HHH#NYSE">HHH</a>)</td>
<td>18.85M</td>
<td> unchanged</td>
<td>$1.37B</td>
<td>-15.11%</td>
</tr>
<tr>
<td>Restaurant Brands</td>
<td>23.35M</td>
<td> unchanged</td>
<td>$1.86B</td>
<td>+1.69%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: SEC filing</figcaption></figure>
All of&nbsp;Pershing&nbsp;Square&#8217;s&nbsp;holdings except real-estate development and management company Howard Hughes saw book profits in the first quarter.&nbsp;Lowe&#8217;s&nbsp;stock, which the firm divested from, gained approximately 15% in the first quarter.
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:&nbsp;SPY), an exchange-traded fund tracking the S&amp;P 500 Index,&nbsp;posted gains of 10.34% for the first quarter and 11.81% year-to-date.&nbsp;OTC-listed Pershing Square closed&nbsp;Wednesday&#8217;s&nbsp;session at $51.70, up 0.39%, according to<a target="_blank" href="https://benzinga.grsm.io/lxquj26b2sag" rel="noreferrer noopener">&nbsp;Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38730583/crazy-hedge-fund-titan-bill-ackman-labels-bidens-arms-freeze-warning-to-israel-amid">&#8216;Crazy:&#8217; Hedge Fund Titan Bill Ackman Labels Biden&#8217;s Arms-Freeze Warning To Israel Amid Hamas War &#8216;One Of The Worst Acts Against An Ally&#8217;</a>
Photo by Center for Jewish History, NYC via Wikimedia Commons

Equities

News

Trading Ideas

GOOG

GOOGL

PSHZF

Bill Ackman's Pershing Square Q1 Shake-Up: Home Retailer Dumped, Hot Restaurant Stake Trimmed And A 'Magnificent 7' Holding Juggled

As previously announced, NOVONIX has agreed to divest MD South Tenements Pty Ltd, its wholly owned subsidiary that holds the Mount Dromedary natural graphite exploration interests, to Axon Graphite Limited, a subsidiary of LEL. LEL will contribute its interest in its Burke and Corella graphite projects to Axon pursuant to the agreement

Nuveen California Dividend Advantage Municipal Fund 2

Reported Earlier, NOVONIX Completes Due Diligence For Natural Graphite Merger With Axon Graphite

CIVI

Reported Earlier, Civitas Resources Prices Secondary Public Offering Of 6,956,520 Common Stock By An Affiliate Of Canada Pension Plan Investment Board At $73.80/Share

Okeanis Eco Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECO#NYSE">ECO</a>) reported quarterly earnings of $1.29 per share which beat the analyst consensus estimate of $1.20 by 7.5 percent. This is a 19.38 percent decrease over earnings of $1.60 per share from the same period last year. The company reported quarterly sales of $111.100 million which beat the analyst consensus estimate of $84.947 million by 30.79 percent. This is a 1.33 percent decrease over sales of $112.600 million the same period last year.

Earnings

Earnings Beats

Okeanis Eco Tankers Q1 2024 GAAP EPS $1.29 Beats $1.20 Estimate, Sales $111.100M Beat $84.947M Estimate

Wilhelmina International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WHLM#NASDAQ">WHLM</a>) reported quarterly earnings of $0.02 per share. This is a 33.33 percent decrease over earnings of $0.03 per share from the same period last year. The company reported $4.17 million in sales this quarter. This is a 6.98 percent decrease over sales of $4.48 million the same period last year.

WHLM

Wilhelmina International Q1 EPS $0.02 Down From $0.03 YoY, Sales $4.17M Down From $4.48M YoY

VEON&nbsp;Q1&nbsp;2024 Highlights
<ul>
<li>Q1&nbsp;revenue of USD 942 million,&nbsp;+6.6%&nbsp;YoY (+11.6%&nbsp;YoY in local currency) and EBITDA of USD 386 million,&nbsp;+0.2%&nbsp;YoY (+5.1%&nbsp;YoY in local currency)</li>
<li>Q1&nbsp;capex of USD 125 million,&nbsp;+38.6%&nbsp;YoY, with LTM capex intensity of&nbsp;18.3%</li>
<li>Total cash and cash equivalents of USD 632 million, with USD 261 million at HQ; and gross debt at USD 3.7 billion (decreased by USD 2.0 billion YoY), with net debt excluding lease liabilities at USD 2.0 billion; VEON repaid its Revolving Credit Facility</li>
<li>Maintaining FY 2024 revenue growth&nbsp;guidance&nbsp;in local currency of&nbsp;16-18%, EBITDA growth&nbsp;guidance&nbsp;in local currency of&nbsp;18-20%, and capex intensity of&nbsp;18-19%</li>
<li>VEON management increases share ownership; announces its 2024 Annual General Meeting and Capital Markets Day</li>
</ul>

VEON

VEON Q1 Sales $942M Up From $884M YoY, EBITDA $386M Up From $385M YoY

With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Deere &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) to report quarterly earnings at $7.86 per share on revenue of $13.28 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Deere shares rose 0.4% to $415.51 in after-hours trading.</li>
<li>Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) reported stronger-than-expected financial results for its third quarter on Wednesday. The company said it sees FY24 adjusted earnings of $3.69 to $3.71 per share, on revenue of $53.6 billion to $53.8 billion. Cisco shares climbed 4.9% to $52.12 in the after-hours trading session.</li>
<li>Analysts are expecting Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) to post quarterly earnings at 52 cents per share on revenue of $159.50 billion. The company will release earnings before the markets open. Walmart shares rose 0.8% to $60.29 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>AST SpaceMobile Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) reported a narrower-than-expected loss for its first quarter and announced a definitive commercial agreement with AT&amp;T Inc. AST SpaceMobile shares jumped 41% to $3.37 in the after-hours trading session.</li>
<li>Analysts expect JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) to post quarterly earnings at 64 cents per share on revenue of $35.62 billion before the opening bell. JD.com shares fell 0.5% to $33.45 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38844468/jim-cramer-this-industrial-company-is-absolutely-terrific-recommends-buying-modine-manufacturing">Jim Cramer: This Industrial Company Is &#8216;Absolutely Terrific&#8217;, Recommends Buying Modine Manufacturing</a>

Pre-Market Outlook

Markets

ASTS

CSCO

Walmart, Deere And 3 Stocks To Watch Heading Into Thursday

The CNN Money Fear and Greed index showed further improvement in overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Wednesday.
U.S. stocks settled higher on Wednesday, with the S&amp;P 500 surging to a record high level during the session.
On the economic data front, U.S. consumer prices rose 0.3% month-over-month in April compared to 0.4% in the previous month, and also down from market expectations of 0.4%. Annual inflation rate in the U.S. slowed to 3.4% in April from 3.5% a month ago. U.S. retail sales came in unchanged month-over-month in April compared to a revised 0.6% increase in March.
Yields on the benchmark 10-year and 2-year Treasurys moved lower following the economic data.
Shares of Arcos Dorados Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) fell around 6% on Wednesday after reporting results for its first quarter
All sectors on the S&amp;P 500 closed on a positive note, with information technology, real estate and health care stocks recording the biggest gains on Wednesday.
The Dow Jones closed higher by around 350 points to 39,908.00 on Wednesday. The S&amp;P 500 rose 1.17% at 5,308.15, while the Nasdaq Composite gained 1.40% at 16,742.39 during Tuesday's session.
Investors are awaiting earnings results from JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), and Deere &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) today.
At a current reading of 59.7, the index remained in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 57.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/news/24/05/38844468/jim-cramer-this-industrial-company-is-absolutely-terrific-recommends-buying-modine-manufacturing">Jim Cramer: This Industrial Company Is &#8216;Absolutely Terrific&#8217;, Recommends Buying Modine Manufacturing</a>

ARCO

Fear & Greed Index In 'Greed' Zone; S&P 500 Hits Record High After April Inflation Report

JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) is set to release earnings results for its first quarter before the <a href="https://www.benzinga.com/quote/JD/earnings">opening bell on May 16, 2024</a>.
Analysts expect the China-based company to report quarterly earnings at 64 cents per share, down from 66 cents per share in the year-ago period. JD.com is projected to report quarterly revenue of $35.62 billion, compared to $33.64 billion a year ago, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
During March, JD.com announced it would not pursue an acquisition of British electrical retailer Currys.
JD.com shares rose 0.8% to close at $33.62 on Wednesday.
Benzinga readers can access the latest analyst ratings on the A<a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">nalyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/JD/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Loop Capital analyst Rob Sanderson maintained a Hold rating and raised the price target from $26 to $35 on May 13. This analyst has an accuracy rate of 63%.</li>
<li>Benchmark analyst Fawne Jiang reiterated a Buy rating with a price target of $55 on April 16. This analyst has an accuracy rate of 65%.</li>
<li>Susquehanna analyst Shyam Patil maintained a Neutral rating and cut the price target from $30 to $28 on March 11. This analyst has an accuracy rate of 64%.</li>
<li>Barclays analyst Jiong Shao maintained an Overweight rating and raised the price target from $35 to $39 on March 7. This analyst has an accuracy rate of 66%.</li>
<li>Mizuho analyst James Lee maintained a Buy rating and increased the price target from $32 to $33 on March 7. This analyst has an accuracy rate of 78%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/news/24/05/38844468/jim-cramer-this-industrial-company-is-absolutely-terrific-recommends-buying-modine-manufacturing">Jim Cramer: This Industrial Company Is &#8216;Absolutely Terrific&#8217;, Recommends Buying Modine Manufacturing</a>

Price Target

JD.com Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Former Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) AI Manager Paril Jain has denied claims the EV company&#8217;s <a href="https://www.benzinga.com/markets/equities/24/04/38332930/management-expert-warns-elon-musk-faces-ceo-overload-after-tesla-layoffs-reportedly-leave-him-ov">CEO Elon Musk</a> has lost the capacity to retain talent.
What Happened: &#8220;Had a great productive chat with Elon Musk before leaving, would've stuck around longer if I didn't have the itch to chase a specific vision. Don't see any capacity eroding on his front&#8230;,&#8221; Jain wrote on social media platform X, formerly Twitter. 
He was responding to a media report that said the long list of executive departures from Tesla hints at the company losing its ability to attract and retain talent.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Had a great productive chat with <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> before leaving, would've stuck around longer if I didn't have the itch to chase a specific vision. Don't see any capacity eroding on his front like the article mentions
&mdash; Paril Jain (@pariljain) <a href="https://twitter.com/pariljain/status/1790500423327191169?ref_src=twsrc%5Etfw">May 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Jain announced his departure from Tesla on Monday <a href="https://www.benzinga.com/markets/equities/24/05/38796493/teslas-fire-hire-musk-brings-back-some-laid-off-supercharger-team-employees" target="_blank" rel="noreferrer noopener">amid wider company layoffs</a>, saying&nbsp;it&nbsp;has "been an incredible&nbsp;7&nbsp;years building the best&nbsp;self driving&nbsp;product on the market."
"While I had always planned to help Tesla get to the final destination of global deployment of Robotaxis, I think it&#8217;s time to accelerate [the] rest of the robotics industry and build more bots that give people time back," he added.
Jain&#8217;s Vision: Jain has started a <a href="https://www.benzinga.com/news/24/05/38809357/ex-cruise-ceo-raises-150m-for-robotics-startup-co-founded-with-longtime-tesla-ai-head-who-just-quit">robotics company called The Bot Company </a>with former Cruise CEO Kyle Vogt and former Cruise engineer&nbsp;Luke Holoubek. The company is aimed at building robots that do chores and is valued at $550 million after it raised $150 million in a recent funding round. 
When asked if his new company would compete with Tesla&#8217;s humanoid robot Optimus, Jain on Wednesday replied in the negative and said, &#8220;No &#8211; it'll just be useful to people.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">No &#8211; it'll just be useful to people
&mdash; Paril Jain (@pariljain) <a href="https://twitter.com/pariljain/status/1790832625629974882?ref_src=twsrc%5Etfw">May 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Jain is part of a long list of executives&nbsp;<a href="https://www.benzinga.com/news/24/05/38807839/another-tesla-exec-departs-as-musk-downsizes-cybertruck-manufacturing-head-marks-end-of-adventure-wi" target="_blank" rel="noreferrer noopener">who have departed the company</a>&nbsp;amidst Musk's efforts to streamline Tesla's workforce.&nbsp; Other notable departures include Senior Director of Charging Infrastructure&nbsp;Rebecca Tinucci, Director of New Product Introduction&nbsp;Daniel Ho, Senior Vice President of Powertrain and Energy Engineering&nbsp;Drew Baglino, And Vice President of Public Policy and Business Development&nbsp;Rohan Patel.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/05/38837883/teslas-top-rival-byd-reveals-starting-price-of-hybrid-electric-pickup-in-mexico-launch-yes-its-a-lot">Tesla&#8217;s Top Rival BYD Reveals Starting Price Of Hybrid Electric Pickup In Mexico Launch — Yes, It&#8217;s A Lot Cheaper Than The Cybertruck</a>
Photo via Shutterstock

Tech

TSLA

Tesla AI Manager Who Resigned Doesn't See CEO Elon Musk's 'Capacity Eroding' To Retain Talent Amid Layoffs: 'Would've Stuck Around Longer If...'

In a bid to curb the rising <a href="https://www.benzinga.com/news/23/12/36391615/iphone-passcode-thief-lays-out-ios-risks-heres-how-apple-is-responding">incidents of mobile phone theft</a>, Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)&nbsp;Google&nbsp;has announced a new feature that will&nbsp;use artificial intelligence to detect&nbsp;theft and lock the screen of Android smartphones.
What Happened: The new &#8220;theft prevention lock&#8221; powered by Google AI, will be activated when the device detects a motion <a href="https://www.benzinga.com/news/23/12/36086307/forget-teens-even-thieves-want-only-iphones-armed-robbers-return-android-phone-saying-we-dont-want-t">associated with theft</a>, such as when a thief snatches the phone and attempts to flee,&nbsp;<a href="https://www.ft.com/content/74c4405a-ecba-4dab-82f4-ca5dc098f281">reported</a>&nbsp;the Financial Times on Wednesday. 
This feature is part of Google&#8217;s efforts to deter criminals from stealing phones to access sensitive financial and personal data. It will be available on&nbsp;devices running later Android operating&nbsp;systems and is expected to&nbsp;be rolled out later this&nbsp;year.
See Also:&nbsp;<a href="https://www.benzinga.com/general/gaming/24/05/38799011/gamestop-dives-into-collectibles-market-with-pok-mon-trading-cards?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GameStop Dives Into Collectibles Market With Pokémon Trading Cards</a>
Google&#8217;s latest upgrades to Android also come with added security protocols before permitting users to modify sensitive settings, perform a factory reset, or deactivate location tracking.
The company stated that mandating device or Google account credentials to reset a mobile phone after a factory reset would render a stolen phone unmarketable and deter criminals.
These updates also encompass a designated &#8220;private space,&#8221; secured with a distinct PIN, to provide additional safeguarding for applications housing sensitive personal information. Android users already have the option to use third-party services to secure individual apps with a PIN.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Earlier this year, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) also introduced its&nbsp;Stolen Device Protection feature&nbsp;to prevent thieves from <a href="https://www.benzinga.com/news/23/12/36385255/how-to-turn-on-apples-stolen-device-protection-on-your-shiny-new-iphone">making&nbsp;critical security changes</a>, even if they have access to the passcode. Apple has implemented further security measures, such as mandating biometric authentication without any alternative passcode option, and in certain instances, introducing a one-hour delay for critical security actions.
The latest official data for England and Wales reveal that British law enforcement is grappling with the most elevated rate of &#8220;theft from the person&#8221; incidents in two decades. 
This crime involves the unauthorized taking of belongings from individuals without the use of force, commonly perpetrated through techniques like pickpocketing or swift snatching. Last year, these offenses surged by 18%.
Photo via Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/05/38814718/happy-40-zuckerberg-if-you-invested-1000-in-meta-platforms-stock-when-mark-zuckerberg-turned-30-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Happy 40, Zuckerberg! If You Invested $1000 In Meta Platforms Stock When Mark Zuckerberg Turned 30, Here&#8217;s How Much You&#8217;d Have</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

Media

AAPL

Google Comes Up With AI-Powered 'Theft Prevention Lock' To Secure Android Devices Against Snatching

<ul>
<li>Over 24 weeks, a once-weekly subcutaneous injection of CT-388 achieved a clinically meaningful and statistically significant mean placebo-adjusted weight loss of&nbsp;18.8%&nbsp;(p &lt; 0.001) &ndash;</li>
<li>At week 24,&nbsp;100%&nbsp;of CT-388 treated participants achieved &gt;5%&nbsp;weight loss,&nbsp;70%&nbsp;achieved &gt;15%&nbsp;and&nbsp;45%&nbsp;achieved &gt;20%&nbsp;weight loss &ndash;</li>
<li>In a subgroup with pre-diabetes at baseline, CT-388 treatment normalized glycemia in all patients, indicating its strong impact on glucose homeostasis &ndash;</li>
<li>No new or unexpected safety signals were detected. Overall, CT-388 demonstrated a safety and tolerability profile consistent with its drug class &ndash;</li>
</ul>

RHHBF

RHHBY

RHHVF

Roche's Genentech Reports Phase Ib Results For Its Dual GLP-1/GIP Receptor Agonist CT-388 In People With Obesity

Have you caught yourself beaming at the TV screen watching shows like "Tiny House, Big Living" or "Tiny House Nation" and thinking about squeezing your life into a charming little 400-square-footer? The tiny house movement sure makes it look like an easy way to slash your bills and simplify your life, right? But hold up. What sparkles on reality TV doesn't always shine quite so brightly in the real world. 
Sure, the idea of living a minimalist, budget-friendly life is tempting, but there are some real downsides to going tiny, especially if you've got a family in tow. Here are five reasons why buying a tiny house might not be the dream move you're hoping for.
<h3 class="wp-block-heading">1. Say Goodbye to Personal Space</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15130805/tiny-house-bad-idea-2-1024x576.jpeg" alt="Think your studio apartment is small? Imagine squeezing your entire life into a space that's around 500 square feet! Image: Dall-E 3" class="wp-image-340011" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15130805/tiny-house-bad-idea-2-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15130805/tiny-house-bad-idea-2-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15130805/tiny-house-bad-idea-2-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15130805/tiny-house-bad-idea-2.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Think your studio apartment is small? Imagine squeezing your entire life into a space that&#8217;s around 500 square feet! Image: Dall-E 3</figcaption></figure>
Tiny houses are, well, tiny. Imagine trimming down your living space to under 400 square feet — that's about one-sixth the size of an average American home! Even with the most clever storage solutions, you'll find yourself bumping into your belongings at every turn. No roomy closets or extra space for your hobbies here. Feeling cramped yet?
<h3 class="wp-block-heading">2. The Zoning Headache</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15131010/tiny-house-bad-idea-4-1024x576.jpeg" alt="Many places require homes to be at least 700 to 1,000 square feet for permanent residence. Image: Dall-E 3" class="wp-image-340016" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15131010/tiny-house-bad-idea-4-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15131010/tiny-house-bad-idea-4-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15131010/tiny-house-bad-idea-4-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15131010/tiny-house-bad-idea-4.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Many places require homes to be at least 700 to 1,000 square feet for permanent residence. Image: Dall-E 3</figcaption></figure>
Figuring out where you can actually park your tiny house becomes a real headache real soon. Zoning laws and building codes can be pretty restrictive, often dictating that homes must meet minimum square footage well above the size of a tiny house. This means you might find yourself tangled in legal issues or even having to move unexpectedly. Doesn&#8217;t sound so convenient now, does it?
<h3 class="wp-block-heading">3. Selling Could Be Tough</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15132309/tiny-house-bad-idea-6-1024x576.jpeg" alt="Most home buyers are simply uninterested in even considering a tiny home for their primary home. Image: Dall-E 3" class="wp-image-340046" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15132309/tiny-house-bad-idea-6-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15132309/tiny-house-bad-idea-6-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15132309/tiny-house-bad-idea-6-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15132309/tiny-house-bad-idea-6.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Most home buyers are simply uninterested in even considering a tiny home for their primary home. Image: Dall-E 3</figcaption></figure>
Tiny homes aren't for everyone which also makes them simply less marketable. Most people are looking for something a bit roomier that they can grow into over time. Sure, a tiny home might work if you&#8217;re building a bigger place on your land eventually, but that&#8217;s a specific scenario.
<h3 class="wp-block-heading">4. The Costs Add Up</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15131117/tiny-house-bad-idea-5-1024x576.jpeg" alt="While you will but cutting down on space with a tiny house, costs are necessarily coming down. Image: Dall-E 3" class="wp-image-340019" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15131117/tiny-house-bad-idea-5-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15131117/tiny-house-bad-idea-5-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15131117/tiny-house-bad-idea-5-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15131117/tiny-house-bad-idea-5.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">While you will but cutting down on space with a tiny house, costs aren&#8217;t necessarily coming down. Image: Dall-E 3</figcaption></figure>
Downsizing is supposed to save you money, right? Well, with a tiny house, it might not work out that way. Lack of storage could mean shelling out cash for a storage unit, and forget about throwing a big party at home — you might need to rent a space. Many lenders have a minimum square footage requirement, which means you'll likely have to pay cash for your tiny pad. This can make buying and selling your tiny home quite the challenge.
<h3 class="wp-block-heading">5. Utilities Aren&#8217;t Necessarily Cheaper</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15131349/tiny-house-bad-idea-3-1024x576.jpeg" alt="Setting up utilities like water, sewer, and electricity can hit your wallet hard. Image: Dall-E 3" class="wp-image-340025" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15131349/tiny-house-bad-idea-3-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15131349/tiny-house-bad-idea-3-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15131349/tiny-house-bad-idea-3-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/15131349/tiny-house-bad-idea-3.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Setting up utilities like water, sewer, and electricity can hit your wallet hard. Image: Dall-E 3</figcaption></figure>
Lastly, let's talk utilities. Sure, a smaller space uses less energy, but connecting your tiny house to water, sewer, and electricity can be pricey and complicated, especially if you&#8217;re looking to set up in a rural area. Thinking of living off the grid? It's not as simple as it sounds.

Education

General

Tiny Houses Are Cute And Look Great On TV But Here Are 5 Reasons Why You Shouldn't Buy One

The cryptocurrency arm of brokerage firm Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) announced the launch of its first-ever cryptocurrency staking product, though the new service will be limited to the European market.
What Happened: The offering will cover Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), the fifth-largest cryptocurrency by market cap, Robinhood stated in a blog post on Wednesday. 
The new service would allow customers to stake their SOL holdings using the app, enabling them to earn yields while having the freedom to unstake their funds at any time.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Just in: <a href="https://twitter.com/RobinhoodCrypto?ref_src=twsrc%5Etfw">@RobinhoodCrypto</a> EU now supports Solana staking, introducing their first-ever crypto staking product! &#x1f525; Learn more&#x1f447; <a href="https://t.co/aHXj1rgL8P">https://t.co/aHXj1rgL8P</a>
&mdash; Solana (@solana) <a href="https://twitter.com/solana/status/1790705923448611130?ref_src=twsrc%5Etfw">May 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Owing to the announcement, Solana's total value locked jumped 9% in the last 24 hours, according to <a href="https://defillama.com/chain/Solana">data </a>from DeFiLlama.
Robinhood Crypto allows users to trade popular coins such as Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Dogecoin (CRYPTO: DOGE), and others.
Why It Matters: The strategic foray was the first by the trading platform in its efforts to grab a slice of the expanding cryptocurrency staking industry.&nbsp;
The global staking market cap stood at $279.57 billion at the time of writing, <a href="https://www.stakingrewards.com/">according </a>to Staking Rewards Data. Solana's staking market cap was worth $60 billion, with about 64% of the eligible supply currently locked in staking services.
Robinhood's focus on the European market comes amid increasing regulatory problems in the U.S., where the company is headquartered. The company <a href="https://www.benzinga.com/government/24/05/38647248/sec-nudges-robinhood-over-crypto-operations">got slapped with a Wells Notice</a> from the SEC earlier this month, over concerns of securities laws violations. Before that, it was subpoenaed by the regulator in February.
But despite these challenges, the firm r<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38721260/robinhood-reports-3x-jump-in-crypto-volume-executives-say-business-as-usual-despite-sec-we">eported a 3X rise in crypto volumes</a> for the first quarter.
Price Action: At the time of writing, SOL was exchanging hands at $$163.23 following a 13.22% jump in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Photo via Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38863564/dogecoin-open-interest-hits-monthly-highs-as-memecoin-gains-in-market-rally-analyst-foreca">Dogecoin Open Interest Hits Monthly Highs As Memecoin Gains In Market Rally, Analyst Forecasts 74-100% Jump</a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$DOGE

$ETH

$SOL

HOOD

Robinhood Launches Its First Crypto Staking Offering For Solana But Feature Limited To Europe

In a strategic move to tap into the burgeoning Australian pension market, Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) is developing a service tailored to the self-managed pensions sector in Australia.
What Happened: Coinbase, the largest cryptocurrency exchange in the U.S., is focusing on the self-managed pensions sector in Australia, a market that constitutes about a quarter of the country&#8217;s $2.5 trillion pension system. The sector currently has approximately A$1 billion ($664 million) invested in cryptocurrencies, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-05-15/coinbase-targets-crypto-demand-in-600-billion-aussie-pension-sector">reported</a> on Wednesday.
John O'Loghlen, Coinbase&#8217;s Managing Director for Asia-Pacific, revealed that the exchange is tailoring a service to cater to these clients, who often make a single allocation and leave it untouched. This move comes as Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price has surged by around 45% this year following the launch of ETFs.
"Self-managed super funds might just make a single allocation and set it and forget it," said O'Loghlen. "We are working on an offering to service those clients really well on a one-off basis — to have them trade with us and stay with us."
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38788906/pepe-pumps-8-and-millionaire-trader-thinks-will-become-so-nutty-soon-that-his-1m-investmen?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Pepe Pumps 8% And Millionaire Trader Thinks Will Become &#8216;So Nutty Soon&#8217; That His $1M Investment Will Outperform All Others</a>
O'Loghlen, a former employee of Ant Group and Goldman Sachs Group Inc., believes that the recent ETF launches in the U.S. have boosted the crypto market, leading to an all-time high for Bitcoin in March. He predicts that Australia will introduce more crypto ETFs by the end of 2024.
Why It Matters: The move by Coinbase to target the Australian pension sector comes at a time when institutional investors are increasingly considering cryptocurrencies as a viable investment option. Earlier in March, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37820232/worlds-largest-pension-fund-eyes-bitcoin-for-portfolio-diversification">world&#8217;s largest pension fund</a>, the Government Pension Investment Fund of Japan, expressed interest in diversifying its portfolio with Bitcoin.
Australia&#8217;s cryptocurrency market has been experiencing significant developments. The <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38483210/asx-reportedly-set-to-green-light-australias-first-bitcoin-etf-before-2024-ends-report">Australian Securities Exchange</a> is reportedly set to approve the country&#8217;s first spot-Bitcoin ETF before the end of 2024. This move is expected to further fuel the growth of the cryptocurrency market in Australia.
Despite the growing interest in cryptocurrencies, there are still concerns about the risks associated with the sector. Financial advisers, such as Michael Houlihan, have cautioned against allocating a significant portion of a portfolio to high-risk assets like cryptocurrencies. "You wouldn't want a significant part of a portfolio in something that's such high risk," he said.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38843580/why-this-crypto-market-is-a-bear-trap-and-which-coins-this-trader-is-backing?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why This Crypto Market Is &#8216;A Bear Trap&#8217; And Which Coins This Trader Is Backing</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Global

COIN

Coinbase Eyes Australian Pension Market With Bitcoin Service Tailored For Self-Managed Funds

Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has requested hundreds of its China-based employees to consider relocating amid the escalating technological tensions between the U.S. and China.
What Happened: The company recently extended relocation offers to around 700 to 800 staff members, primarily engineers of Chinese nationality. These individuals are being given the chance to transfer to various countries such as the U.S., Ireland, Australia, and New Zealand, <a href="https://www.wsj.com/tech/ai/microsoft-asks-hundreds-of-china-based-ai-staff-to-relocate-amid-u-s-china-tensions-b626ff8c">reported</a> The Wall Street Journal on Thursday, citing people familiar with the matter. 
The relocation initiative targets employees involved in machine learning and other tasks linked to cloud computing. 
Microsoft has approximately 7,000 engineers working in its Asia-Pacific research and development division, with the majority located in China.
This move by Microsoft, a major player in cloud computing and AI, comes as President Joe Biden&#8216;s administration tightens restrictions on China&#8217;s access to advanced AI technology. The White House is considering new regulations that would require U.S. companies, including Microsoft, to obtain licenses before providing Chinese customers with access to AI chips.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38807245/big-short-fame-investor-expects-elon-musks-tesla-shares-to-plunge-70-people-are-going-to-start-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Big Short&#8217; Fame Investor Expects Elon Musk&#8217;s Tesla Shares To Plunge 70%: &#8216;People Are Going To Start To Lose Patience&#8217;</a>
A Microsoft spokesperson stated that the company remains committed to the region and will continue to operate in China. The offer to relocate was made earlier this week.
Why It Matters: The move by Microsoft comes in the wake of the Biden administration&#8217;s efforts to curb China&#8217;s access to cutting-edge technology. 
On Tuesday, President Biden announced a significant increase in tariffs on a range of Chinese goods, aimed at protecting the American economy and safeguarding domestic jobs. These measures were also designed to counteract China&#8217;s <a href="https://www.benzinga.com/markets/asia/24/05/38824198/biden-announces-massive-tariffs-on-chinese-imports-to-protect-us-industries-clean-energy-solar-stock">heavily subsidized production</a>, which was said to be &#8220;flooding the market&#8221; and harming U.S. manufacturers.
Microsoft&#8217;s decision to relocate its China-based AI employees also follows a series of other developments. Chinese scientists recently achieved mass production of optical <a href="https://www.benzinga.com/news/24/05/38789719/beating-us-sanctions-chinese-scientists-achieve-mass-production-of-optical-chips-at-low-cost">chips at a low cost</a>, potentially softening the impact of U.S. sanctions. This breakthrough involves photonic integrated circuits, which use light particles to process and transmit data, enhancing speed and reducing energy use.
China has strongly condemned the Biden administration for increasing tariffs on a range of Chinese imports, vowing to retaliate. The Chinese government has criticized the additional tariffs as &#8220;political manipulation,&#8221; pointing out that the decision comes ahead of the U.S. elections this year. 
Chinese Embassy spokesman Liu Pengyu dismissed accusations of Chinese overcapacity as a &#8220;false narrative&#8221; aimed at <a href="https://www.benzinga.com/markets/asia/24/05/38841902/xi-jinpings-mouthpiece-trolls-us-after-china-vows-resolute-measures-against-bidens-tariff-hike-what">hampering China&#8217;s economy</a>. He praised China&#8217;s manufacturing sector for its competitiveness, innovation, and efficiency.
Read Next: <a href="https://www.benzinga.com/insights/options/24/05/38791263/check-out-what-whales-are-doing-with-pltr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Check Out What Whales Are Doing With PLTR</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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MSFT

Microsoft Urges China-Based AI Team To Relocate Amid Escalating Tech Tensions Between Beijing And Washington

Macro Economic Events

Econ #s

Economics

BBJP

WisdomTree Trust Japan Total Dividend Fund

Japan Industrial Production (MoM) For March 4.4% Vs. 3.8% Est.; -0.6% Prior

Reported Earlier, Australia Unemployment Rate For April 4.1% Vs. 3.9% Est.; 3.9% (Revised) Prior

Reported Earlier, Australia Full Employment Change For April -6.1K Vs. 26.6K (Revised) Prior

Reported Earlier, Australia Employment Change For April 38.5K Vs. 22.4K Est.; -5.9K (Revised) Prior

Dlp Resources Limited (TSE:DLP) has released an update. DLP Resources Inc. has reported promising initial rock sampling results from its wholly own...

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DLP Resources Targets $6 Million in Funding Round

Dlp Resources Limited (TSE:DLP) has released an update. DLP Resources Inc. has reported promising results from their second phase of rock sampling ...

DLP Resources Reveals High-Potential Copper Zone

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DLP Resources Secures $6.4 Million for Expansion

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