Hansoh Pharmaceutical Gr Stock (OTC: HNSPF)

Hansoh Pharmaceutical Gr (OTC:HNSPF) Stock, Quote.Headers.trade-ideas

Hansoh Pharmaceutical Group Co Ltd is a research and development-driven pharmaceutical company in China. The company holds a broad, diversified drug portfolio in CNS diseases, oncology, anti-infectives, and diabetes. Further, it also focuses on metabolic diseases and anti-tumor. The majority of revenue is generated from the sale of pharmaceutical products in Mainland China.

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Hong Kong stocks rallied Friday as the week closed out higher for consumer stocks and EV makers which investors hope will be the beneficiary of a forthcoming government stimulus.  

The Hang Seng Index ended the day 2.1% higher at 17,398.73 while China’s CSI 300 Index rose 1.4% to 3,562.39.

Strong Consumer Turnout Drives Hong Kong Stocks Higher Friday As China&#39;s Former Premier Li Keqiang Dies At 68

HANSOH PHARMACEUTICAL GP by Hansoh Pharmaceutical Group Co Ltd.

Hansoh Pharmaceutical Group Co Ltd

An Australian court has upheld a $418,000 fine against Tesla and SpaceX CEO Elon Musk&#8217;s social media platform X, formerly Twitter, for not complying with a regulator&#8217;s request for information on <a href="https://www.benzinga.com/news/24/09/40784803/after-feud-with-elon-musk-and-mark-zuckerberg-australian-pm-anthony-albanese-set-to-ban-social-media">anti-child-abuse practices</a>.
What Happened: The Federal Court of Australia&nbsp;confirmed the fine against X, which had contested the penalty, reported Reuters on Friday.
The court ruled that X was obligated&nbsp;to respond to a notice&nbsp;from the eSafety Commissioner, an&nbsp;internet safety regulator, seeking details about measures to combat&nbsp;child sexual exploitation material on the platform.
X had argued that it was not obligated&nbsp;to respond to the notice&nbsp;in early 2023 as it had been incorporated&nbsp;into a new Musk-controlled corporate&nbsp;entity, thereby eliminating liability.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/41087674/openais-searchgpt-set-to-disrupt-googles-search-empire-as-former-engineer-sounds-alarm-on-deteriorat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI&#8217;s SearchGPT Set To Disrupt Google&#8217;s Search Empire As Former Engineer Sounds Alarm On Deteriorating User Experience Amid Rising Competition</a>
Following the verdict, eSafety Commissioner Julie Inman Grant&nbsp;said,&nbsp;&#8220;Had X Corp&#8217;s argument been&nbsp;accepted by the Court it&nbsp;could have set the concerning&nbsp;precedent that a foreign company&#8217;s&nbsp;merger with another foreign company&nbsp;might enable it to avoid&nbsp;regulatory obligations in Australia.&#8221;
The eSafety Commissioner has also initiated civil proceedings against X due to&nbsp;its noncompliance, the report noted.
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: This development is part of a larger narrative involving the Australian government&#8217;s increasing scrutiny of social media platforms.
In April 2024, Musk responded&nbsp;to Australian Prime Minister Anthony Albanese&#8217;s criticism over <a href="https://www.benzinga.com/news/24/04/38368734/elon-musk-hits-back-at-australias-leader-amid-row-over-removal-of-violent-video-from-x-does-the-pm-t">removing a violent video</a> from X.
The following month, he criticized&nbsp;the Australian government&#8217;s call <a href="https://www.benzinga.com/news/24/05/38774256/elon-musk-slams-australian-government-for-saying-social-license-is-required-amid-tussle-with-x-doubt">for a &#8220;social license&#8221; for social media</a> platforms.
Meanwhile, Australian Prime Minister Albanese has targeted Mark Zuckerberg-led Meta Platforms Inc. too for its behavior and urged the social media giant to continue <a href="https://www.benzinga.com/news/24/06/39562479/australian-pm-slams-meta-as-arrogant-and-irresponsible-urges-payment-to-news-outlets-they-should-ful">paying local media organizations</a> for their content.
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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>.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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Elon Musk's X Fined $418K After Failing To Escape Anti-Child Abuse Probe By Citing Merger

Mining revenue in September 2024 amounted to&nbsp;$2.2 million&nbsp;down from&nbsp;$2.3 million&nbsp;in August 2024. Mining margin for the&nbsp;third quarter&nbsp;was below&nbsp;10%, lower than the&nbsp;second quarter&nbsp;as a result of the lower hash price realized in the&nbsp;third quarter&nbsp;versus the&nbsp;second quarter, and higher power prices. As at 30 September 2024, the Company held 4 BTC equivalent.

ARBK

Argo Blockchain Reports Bitcoin Mining Revenue Of $2.2M For September 2024 Down From $2.3M In August 2024

An upcoming documentary, revolving around the identity of Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mysterious creator, Satoshi Nakamoto, has piqued interest in the cryptocurrency world.
What Happened: A captivating trailer of the documentary titled &#8216;Money Electric: The Bitcoin Mystery&#8221; was dropped by HBO&#8217;s official social channels, claiming to &#8220;unravel&#8221; the &#8220;internet&#8217;s biggest mystery.&#8221;
The documentary included extracts from an interview with Blockstream CEO Adam Back, who <a href="https://www.benzinga.com/money/who-is-satoshi-nakamoto">claimed to have had email correspondence with the pseudonymous creator</a> and was previously speculated to be Nakamoto himself.
Popular theories like collaboration with the government and Satoshi being not one but a group of people were also featured in the 2:30-minute trailer.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In the future of money, who holds the power? The <a href="https://twitter.com/HBO?ref_src=twsrc%5Etfw">@HBO</a> Original Documentary <a href="https://twitter.com/hashtag/MoneyElectric?src=hash&amp;ref_src=twsrc%5Etfw">#MoneyElectric</a>: The Bitcoin Mystery premieres October 8 on <a href="https://twitter.com/StreamOnMax?ref_src=twsrc%5Etfw">@StreamOnMax</a>. <a href="https://t.co/3gEwTqYaAq">pic.twitter.com/3gEwTqYaAq</a>
&mdash; HBO Documentaries (@HBODocs) <a href="https://twitter.com/HBODocs/status/1841863278709915739?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41177884/mark-cuban-an-ardent-kamala-harris-supporter-isnt-keen-on-elizabeth-warren-as-he-is-on-her">Mark Cuban, An Ardent Kamala Harris Supporter, Isn&#8217;t Keen On Elizabeth Warren As He Is On Her Pro-Crypto GOP Rival: Here&#8217;s Why</a>
Why It Matters: The identity of Satoshi Nakamoto has been a subject of intense speculation and intrigue since the inception of Bitcoin. 
Apart from Back, Australian computer scientist&nbsp;Craig Wright, late American software developer Hal Finney, and Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>) creator Charlie Lee&#8216;s names have been <a href="https://www.benzinga.com/money/who-is-satoshi-nakamoto">suspected of being Nakamoto</a>.
That said, in July earlier this year, Wright, who had himself claimed to be Nakamoto, was <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39808275/craig-wright-adds-disclaimer-to-website-admitting-hes-not-bitcoin-founder-satoshi-nakamoto">ordered by a UK judge to publicly deny</a> being the Bitcoin founder.
As reported in a <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37342088/what-is-going-on-with-bitcoin-founder-satoshi-nakamoto">Benzinga article</a> from February 2024, Nakamoto&#8217;s true identity remains a closely guarded secret, with the pseudonymous creator currently ranked as the 26th richest person in the world.
Nakamoto is purported to have&nbsp;<a href="https://www.arkhamintelligence.com/research/who-owns-the-most-bitcoin-2023-edition" target="_blank" rel="noreferrer noopener">1.1 million</a>&nbsp;Bitcoin as of February 2024, according to on-chain analytics platform Arkham Intelligence, making him one of the richest people in the world.
Price Action: At the time of writing, Bitcoin was exchanging hands at $61,155.33, up 0.04% 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>. 
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Satoshi Nakamoto About To Be Unveiled? Bitcoin Creator's Identity Focal Point Of Upcoming HBO Documentary

Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) sold <a href="https://www.benzinga.com/markets/equities/24/10/41144884/fords-us-sales-edge-up-in-q3-ev-sales-continue-to-climb">23,509 electric vehicles</a> in the three months through the end of September, marking a jump of 12.2% from the corresponding period last year, despite a sales slump for its Mustang Mach-E SUV.
What Happened: Mustang Mach-E was Ford&#8217;s best-selling EV in the quarter but sales dropped by nearly 10% from the corresponding quarter last year. 
The drop in sales of the Mach-E was balanced by a rise in sales of its other two EV offerings in the U.S., namely the F-150 Lightning and the E-transit electric van. While the Lightning electric pickup truck saw its sales rise by 104.5% in the third quarter, the E-transit vans saw sales jump by 13%. 
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Model</td>
<td>Q3 Sales</td>
</tr>
<tr>
<td>Mustang Mach-E</td>
<td>13,392</td>
</tr>
<tr>
<td>F-150 Lightning</td>
<td>7,162</td>
</tr>
<tr>
<td>E-Transit</td>
<td>2,955</td>
</tr>
<tr>
<td>Total</td>
<td>23,509</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Ford</figcaption></figure>
However, Ford sold 23,957 electric vehicles in the second quarter in the U.S., implying sales fell 1.9% quarter-on-quarter. 
Why It Matters: Ford&#8217;s rival General Motors sold 32,095 electric vehicles in the last quarter on the back of its newer offerings. The company&#8217;s best-selling EV in the period was the <a href="https://www.benzinga.com/news/24/10/41136007/gms-ev-sales-rise-in-q3-on-the-back-of-new-models-chevrolet-equinox-ev-tops-charts">Chevrolet Equinox EV</a> which started sales in May 2024.
Ford, in comparison, has an aged and smaller lineup. 
In August, Ford said that it is&nbsp;<a href="https://www.benzinga.com/top-stories/24/08/40496864/ford-scraps-electric-suv-as-it-adjusts-to-lower-electric-vehicle-demand" target="_blank" rel="noreferrer noopener">killing its plans to build a three-row electric SUV</a>, initially slated for production in 2025. The company also postponed its plans for a new electric version of its F-150 pickup to 2027 and said it will start making a new electric commercial van in 2026.
More details on the company's EV strategy are now expected in the first half of 2025.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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Photo courtesy: Ford

Ford's US EV Sales Gather Pace In Q3 Even As Its Best-Seller Mustang Mach-E SUV Slows Down

With U.S. stock futures trading mixed this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Apogee Enterprises Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) to report quarterly earnings at $1.23 per share on revenue of $335.29 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Apogee shares rose 0.1% to $68.50 in after-hours trading.</li>
<li>Smart Sand, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SND#NASDAQ">SND</a>) declared a special cash dividend of 10 cents per share and authorized a $10 million buyback. Smart Sand shares jumped 14% to $2.28 in the after-hours trading session.</li>
<li>Analysts expect Lifecore Biomedical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LFCR#NASDAQ">LFCR</a>) to post a quarterly loss at 47 cents per share on revenue of $23.18 million for the latest quarter. The company will release earnings after the markets close. Lifecore Biomedical shares fell 5.3% to close at $4.7050 on Thursday.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Martin Midstream Partners L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMLP#NASDAQ">MMLP</a>) agreed to be acquired by Martin Resource Management. Martin Midstream Partners shares jumped 9.7% to $3.95 in the after-hours trading session.</li>
<li>AgEagle Aerial Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAVS#NYSE">UAVS</a>) announced a reverse stock split of 1-for-50 shares of common stock. AgEagle Aerial Systems shares fell 5.4% to $0.1150 in the after-hours trading session.</li>
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Apogee Enterprises, Smart Sand And 3 Stocks To Watch Heading Into Friday

A heated exchange between prominent economist Justin Wolfers and Sen. J.D. Vance (R-Ohio) has reignited the debate over immigration&#8217;s economic impact, highlighting conflicting interpretations of <a href="https://www.benzinga.com/news/24/10/41134015/jd-vance-tim-walz-debate-sets-a-different-tone-candidates-discuss-israel-iran-escalation-immigration">federal data and academic research</a>.
What Happened: The dispute began when Vance, former President Donald Trump&#8216;s running mate, cited studies suggesting immigration increases housing costs and strains local budgets. Wolfers, a professor at the University of Michigan, swiftly countered, accusing the senator of misleading the public by selectively quoting from a Congressional Budget Office (CBO) report.
&#8220;Senator, you&#8217;re misleading folks again,&#8221; Wolfers wrote on X, formerly Twitter. &#8220;I just read the CBO report you recommend. It actually says that an immigration surge boosts federal revenues quite dramatically, and has only a small effect on mandatory spending and interest.&#8221;
At the heart of the disagreement is a CBO study on immigration&#8217;s fiscal effects. Vance highlighted a portion suggesting increased state and local government spending due to immigration. However, Wolfers argued this quote was taken out of context, emphasizing that the report primarily focused on federal budget impacts.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Senator, you&#39;re misleading folks again. I just read the CBO report you recommend. It actually says that an immigration surge boosts federal revenues quite dramatically, and has only a small effect on mandatory spending and interest. <a href="https://t.co/GSAEdrUK8T">https://t.co/GSAEdrUK8T</a> <a href="https://t.co/L1SuvvVqwv">pic.twitter.com/L1SuvvVqwv</a>
&mdash; Justin Wolfers (@JustinWolfers) <a href="https://twitter.com/JustinWolfers/status/1841565679503474974?ref_src=twsrc%5Etfw">October 2, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
&#8220;The CBO study @JDVance cites analyzes how immigration improves the federal budget,&#8221; Wolfers explained. &#8220;Yet he pulls a misleading quote, talking about the effects of state and local budgets and ignoring the (likely larger) federal govt impacts.&#8221;
Vance&#8217;s initial <a href="https://x.com/JDVance/status/1841338114897293712">post</a> included references to other studies, including one published in the Journal of Housing Economics, which suggested immigration inflows correlate with increased rents and house prices in metropolitan areas. 
He also cited remarks by Federal Reserve Governor Michelle Bowman on potential upward pressure on rents due to immigration in areas with low affordable housing inventory.
Wolfers, however, maintained that the overall economic picture painted by the CBO report was far more positive. &#8220;My conclusions: First, a surge of immigrants will dramatically reduce the federal deficit. (Vance ignores this.) Second, I concede that it will likely raise state and local deficits. (He quotes this) In sum: It seems likely that the former is a bit larger than the latter,&#8221; Wolfers stated.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My conclusions: First, a surge of immigrants will dramatically reduce the federal deficit. (Vance ignores this.) Second, I concede that it will likely raise state and local deficits. (He quotes this) In sum: It seems likely that the former is a bit larger than the latter.
&mdash; Justin Wolfers (@JustinWolfers) <a href="https://twitter.com/JustinWolfers/status/1841565692031861043?ref_src=twsrc%5Etfw">October 2, 2024</a></blockquote>
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</figure>
The economist urged the public to read the full CBO report, available at cbo.gov, to gain a comprehensive understanding of the issue. He emphasized the importance of considering both federal and local impacts when evaluating immigration&#8217;s economic effects.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40752387/treasury-yields-plunge-tlt-etf-tops-100-vix-spikes-as-50-basis-point-rate-cut-odds-soar-in-respo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Treasury Yields Plunge, TLT ETF Tops $100, VIX Spikes As 50-Basis-Point Rate Cut Odds Soar In Response To Jobs Data</a>
Why It Matters: The controversy unfolds against the backdrop of ongoing national discussions about immigration policy, housing affordability, and fiscal responsibility. With the 2024 presidential election approaching, these issues are likely to remain at the forefront of political and economic debates.
This exchange comes amid heightened political discussions on immigration, particularly following the recent vice-presidential debate between Vance and Minnesota Governor Tim Walz. 
During the debate, Vance and Walz discussed various issues, including immigration policies and their economic implications. The debate, held in New York City, was part of the 2024 election cycle and <a href="https://www.benzinga.com/news/24/10/41134015/jd-vance-tim-walz-debate-sets-a-different-tone-candidates-discuss-israel-iran-escalation-immigration">followed a presidential debate</a> where Democratic nominee Kamala Harris emerged victorious over Trump.
Previously, Wolfers had expressed concerns about the <a href="https://www.benzinga.com/news/24/08/40411962/justin-wolfers-warns-of-inflationary-impact-of-trumps-policies-disputes-jd-vances-promise-of-afforda">inflationary effects of Trump&#8217;s economic policies</a>, disputing Vance&#8217;s promises of affordable groceries and housing. 
Wolfers has been vocal about his skepticism regarding the competency of Trump&#8217;s economic team, describing it as &#8220;the least impressive list of economists in history&#8221; and criticizing Trump&#8217;s approach to policy-making.
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<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41122944/east-coast-dockworkers-strike-how-labor-dispute-impacts-economy-logistics-companies?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">East Coast Dockworkers Strike: Impact on Walmart, Target, Maersk, and Other Logistics Companies</a>
Image via Wikimedia Commons
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Economics

JD Vance Gets Slammed Over Misleading Immigration Claims By Leading Economist: 'Surge Of Immigrants Will Dramatically Reduce The Federal Deficit'

Renowned economist Claudia Sahm, the inventor of Sahm&#8217;s Rule, offered her perspective on the complex economic landscape facing the Federal Reserve. As the central bank navigates through a potential easing cycle, various factors including labor strikes and natural disasters are <a href="https://www.benzinga.com/news/24/10/41177060/port-strike-ends-workers-return-to-work-friday">complicating the interpretation of economic data</a>.
What Happened:&nbsp;Sahm highlighted the potential impact of ongoing strikes on labor market data. &#8220;If the strike would go on, that can be relatively easy to see in the data,&#8221; she explained in a recent interview with CNBC Overtime. 
The economist drew parallels to recent hurricane events, noting the challenges in isolating their effects on labor market statistics. &#8220;We&#8217;ve been dealing with [hurricanes] the last couple months, trying to parse those in and out of the labor market data,&#8221; Sahm stated.
Despite these potential disruptions, Sahm suggested that the current month&#8217;s data might be relatively &#8220;clean,&#8221; free from major events that could skew interpretation. However, she emphasized the importance of upcoming reports, as they will reflect conditions after the Federal Reserve began its easing cycle.
&#8220;The data we&#8217;re getting comes to us&#8230; We measured before the Fed began their easing cycle,&#8221; Sahm noted. She added, &#8220;We had seen those 50 basis points, so you throw that in the next two [reports], it&#8217;s going to be very interesting to get any kind of sign on how their interest rates are affecting the labor market.&#8221;
The coming weeks are poised to be crucial for economic analysis. With one more job report expected before the next Federal Open Market Committee meeting, analysts will be closely watching for signs of how recent events might impact the data.
Sahm warned of potential complications, mentioning the &#8220;devastating Hurricane Helene&#8221; and ongoing labor disputes. &#8220;We have a big port strike finishing its third day,&#8221; she added, highlighting the diverse factors that could influence economic indicators. Sahm succinctly put it as, &#8220;It&#8217;s going to be messy.&#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">Former Fed economist <a href="https://twitter.com/Claudia_Sahm?ref_src=twsrc%5Etfw">@Claudia_Sahm</a> on whether Hurricane Helene and the ports labor strike could impact upcoming jobs report. <a href="https://t.co/sTX1iwkO6J">pic.twitter.com/sTX1iwkO6J</a>
&mdash; CNBCOvertime (@CNBCOvertime) <a href="https://twitter.com/CNBCOvertime/status/1841941364503707857?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">See Also: <a href="https://www.benzinga.com/news/24/10/41177060/port-strike-ends-workers-return-to-work-friday">Port Strike Ends, Workers In A Tentative Deal Return To Work Friday</a></figcaption></figure>
Why It Matters: The recent end of a <a href="https://www.benzinga.com/news/24/10/41177060/port-strike-ends-workers-return-to-work-friday">port strike</a> on the East and Gulf coasts, following a tentative agreement, resolved a labor dispute that threatened supply chains. The deal included a significant wage increase and improved conditions, which may influence labor market dynamics.
Meanwhile, <a href="https://www.benzinga.com/news/24/10/41126631/hurricane-helene-devastation-the-latest-on-damage-companies-affected">Hurricane Helene</a> caused extensive damage, affecting utility services and leaving many without power. 
The upcoming <a href="https://www.benzinga.com/trading-ideas/previews/24/10/41170128/jobs-report-preview-could-september-labor-data-shift-feds-interest-rate-path">September jobs report</a> is crucial as it may influence the Federal Reserve&#8217;s interest rate decisions. Economists predict a slight decline in nonfarm payrolls, which could impact the Fed&#8217;s strategy.
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Image via Dall-E 3
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Federal Reserve

Sahm's Rule Inventor Warns Of 'Messy' Economic Data As Fed Treads Easing Cycle Amid Labor Disputes And Hurricane Helene Impact

TWKS

Reported Earlier, Thoughtworks And AI Singapore Team Up To Advance Reliability Of AI And Its Adoption

U.K.-based fintech company&nbsp;Revolut&nbsp;has called on Mark Zuckerberg-led&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to help cover the costs of reimbursing victims of fraud.
What Happened: On Thursday, Woody Malouf, Revolut&#8217;s head of financial crime, dismissed Meta&#8217;s initiative to &#8220;launch a data-sharing partnership with U.K. banks and financial institutions to prevent fraud,&#8221; calling it insufficient.
Malouf argued that tech platforms like Meta bear&nbsp;no responsibility in reimbursing victims,&nbsp;thus lacking incentive to tackle the issue.
&#8220;These platforms share no responsibility in reimbursing victims, and so they have no incentive to do anything about it. A commitment to data sharing, albeit needed, simply isn't good enough,&#8221; he stated.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/41086806/elon-musk-mocks-vinod-khosla-after-openai-investor-mixes-up-argentinas-poverty-and-unemployment-rate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Mocks Vinod Khosla After OpenAI Investor Mixes Up Argentina&#8217;s Poverty And Unemployment Rates To Draw Parallels Between Javier Milei And Trump: &#8216;Vinod Is Just Actually Not Smart&#8217;</a>
According to a new report from Revolut released on the same day, 69% of scams reported by U.K. customers in the first half of this year originated from Meta platforms, including Facebook and Instagram.
This marked an increase from 67% in the second half of last year.
&#8220;We are confident in the steps the UK government is taking to tackle fraud, but what is urgently needed now is for Meta and other social media companies to commit to supporting victims of fraud in the same way financial institutions do. Their silence on this issue says it all,&#8221; said Malouf.
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: This is not the first time Meta has faced criticism for its role in fraud cases.
Earlier this year,&nbsp;<a href="https://www.benzinga.com/news/24/03/37554106/facebook-and-instagrams-marketplace-practices-under-ftc-radar-in-south-korea-for-user-safety-slip-up">South Korea&#8217;s antitrust watchdog</a> considered sanctions against Meta&nbsp;due to alleged shortcomings in consumer protection on its online marketplaces.
In December 2022,&nbsp;Zuckerberg was sued&nbsp;for his platform&#8217;s role in a <a href="https://www.benzinga.com/markets/cannabis/22/12/29991373/mark-zuckerberg-sued-for-aiding-and-abetting-aggravated-marijuana-investment-fraud">marijuana investment scheme</a>.
As the internet continues transforming society and how people interact,&nbsp;<a href="https://www.benzinga.com/markets/emerging-markets/22/07/28111725/the-rise-of-trust-and-safety-on-social-media-platforms-and-marketplaces">trust and safety on social media platforms</a> and marketplaces&nbsp;have become increasingly important.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Image via Shuttestock
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Mark Zuckerberg's Meta Asked To Foot The Bill Partly In Fraud Cases By UK Fintech: 'These Platforms Share No Responsibility'

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MOLN

Molecular Partners' Novel CD3 Switch-DARPin Platform To Be Highlighted At SITC 2024 With Proof-Of-Concept Data

El Salvador President Nayib Bukele discussed the country's Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)-centric policy with Argentina Vice President Victoria Villaruel during a recent official visit.
What happened: A video reposted by the vice president on X showed the two leaders sitting on the opposite side of a table, with Villaruel greeting Bukele on his visit to Argentina.
A translated excerpt from the interaction quoted Villaruel as saying, "I want to take this short opportunity to ask you about Bitcoin."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f7e0; Vice president of &#x1f1e6;&#x1f1f7;Argentina &quot;Victoria Villaruel&quot; talks about Bitcoin and Volcano bonds with <a href="https://twitter.com/nayibbukele?ref_src=twsrc%5Etfw">@nayibbukele</a> h/t <a href="https://twitter.com/Bitcoinsearch?ref_src=twsrc%5Etfw">@Bitcoinsearch</a>, <a href="https://twitter.com/AnonimoSV503?ref_src=twsrc%5Etfw">@AnonimoSV503</a> <a href="https://t.co/WJxXqYTQLR">pic.twitter.com/WJxXqYTQLR</a>
&mdash; La Crypta &#x1f9d9;&#x200d;&#x2642;&#xfe0f; (@LaCryptaOk) <a href="https://twitter.com/LaCryptaOk/status/1841182687941574768?ref_src=twsrc%5Etfw">October 1, 2024</a></blockquote>
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The vice president said that Bitcoin was something that she found particularly interesting and expressed a desire to understand El Salvador's Bitcoin bond project.&nbsp;
In response, Bukele said he would be happy to talk about the several Bitcoin-focused initiatives taken by his administration.
Later, the Argentine vice president posted a photo of the meeting on X, revealing that the two leaders talked about Bitcoin implementation and the creation of the National Commission of Digital Assets, the regulatory authority overseeing the digital assets ecosystem in El Salvador.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Visita del Presidente de El Salvador <a href="https://twitter.com/nayibbukele?ref_src=twsrc%5Etfw">@nayibbukele</a> al Senado de la Nación Argentina. Pudimos conversar sobre la implementación del Bitcoin, la creación de la CNAD (Comisión Nac. de Activos Digitales) que es el primer organismo que da marco legal y regulación a los criptoactivos. <a href="https://t.co/W48VhwpGDA">pic.twitter.com/W48VhwpGDA</a>
&mdash; Victoria Villarruel (@VickyVillarruel) <a href="https://twitter.com/VickyVillarruel/status/1841243336763719874?ref_src=twsrc%5Etfw">October 1, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41172369/bitcoin-not-a-safe-haven-but-rising-trump-odds-could-fuel-a-rally-standard-chartered">Bitcoin &#8216;Not A Safe Haven&#8217; But Rising Trump Odds Could Fuel A Rally: Standard Chartered</a>
Why It Matters: The meeting held significance considering the pro-Bitcoin sentiment espoused by the leaders of the two countries.
El Salvador has been the pioneer in Bitcoin adoption, becoming the first country to use the apex cryptocurrency as a legal tender in 2021. Since then, it has taken several measures to make Bitcoin mainstream.
Last year, it <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36192059/el-salvadors-volcanic-bitcoin-bond-approval-sets-stage-to-build-a-crypto-city">passed a landmark legislation</a> that establishes a legal framework for a Bitcoin-backed bond dubbed "Volcano Bond." The primary purpose of the Volcano Bond is to reduce the country&#8217;s sovereign debt and <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40330518/nayib-bukeles-bitcoin-city-project-in-el-salvador-attracts-1-6b-investment-from-turkey-bas">finance the construction of the proposed "Bitcoin City</a>."
On the other hand, Argentina's Libertarian president Javier Milei has <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39404161/argentina-president-javier-milei-makes-passionate-pitch-for-currency-competition-if-you-wa">praised the scarcity-driven growth model of the apex cryptocurrency</a> and dubbed it a way to return monetary power to people.
However, unlike El Salvador, Argentina has not made any significant progress with Bitcoin during his presidency.&nbsp;
Bitcoin advocates would hope the recent meeting between Bukele and Villaruel might just be the first step in this direction.
Price Action: At the time of writing, Bitcoin was exchanging hands at $61,022.74, down 0.65% 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>.&nbsp;
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41177884/mark-cuban-an-ardent-kamala-harris-supporter-isnt-keen-on-elizabeth-warren-as-he-is-on-her">Mark Cuban, An Ardent Kamala Harris Supporter, Isn&#8217;t Keen On Elizabeth Warren As He Is On Her Pro-Crypto GOP Rival: Here&#8217;s Why</a></li>
</ul>

El Salvador's Nayib Bukele Educates Argentina President Javier Milei's Deputy On Bitcoin — Vice President Says Apex Crypto Interests Her A Lot

Macro Economic Events

Econ #s

Reported Earlier, Australia Home Loans (MoM) For August 0.7% Vs. 2.5% (Revised) Prior

Elon Musk, the CEO of SpaceX and Tesla and the owner of X, has voiced his support for an event, to be held at Butler, Pennsylvania on Saturday, involving former President Donald Trump.
What Happened: Musk shared a post from Trump in which the ex-president posted an image of him at a rally in Butler shortly after having been shot at. The image had text that read &#8220;I&#8217;m Coming Back To Butler!&#8221;
Trump said his visit to the place where the attempted assassination took place on July 13, 2024, was &#8220;historic.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I will be there to support! <a href="https://t.co/nokR0g3dn1">https://t.co/nokR0g3dn1</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1842048755169690103?ref_src=twsrc%5Etfw">October 4, 2024</a></blockquote>
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It&#8217;s worth noting that Trump was the target of a <a href="https://www.benzinga.com/24/09/40869836/donald-trump-safe-and-unharmed-after-shooting-incident-at-florida-golf-club">failed assassination attempt</a> at his Florida golf club on Sept. 15, 2024, as well.
In response to Trump&#8217;s post on X, Musk wrote, &#8220;I will be there to support!&#8221;
See Also: <a href="https://www.benzinga.com/markets/commodities/24/10/41151338/biden-the-master-oil-trader-part-iv-president-loads-up-on-millions-of-barrels-to-refill-emerg?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden The Master Oil Trader Part IV? President Loads Up On Millions Of Barrels To Refill Emergency Stash In &#8216;One Of The Best Oil Trades In History&#8217;</a>
Why It Matters: Musk&#8217;s support for Trump comes at a critical time. The former President is currently in a <a href="https://www.benzinga.com/general/politics/24/10/41176806/harris-vs-trump-vice-president-leads-2024-election-poll-young-voters-help-but-voter-issues-could">tight race</a> against Vice President Kamala Harris for the 2024 presidential election. Trump&#8217;s recent experiences, including the failed assassination attempt, have been a focal point in the media, with Musk and Trump even discussing the incidents in a <a href="https://www.benzinga.com/news/24/08/40328821/trump-and-musk-interview-covers-everything-from-failed-assassination-attempt-to-kamala-harriss-no-ta">widely-viewed interview</a>.
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

Trump Says He's Going Back To Butler, Site Of First Assassination Attempt — Elon Musk Chimes In, 'I'll Be There To Support'

YouTube, a subsidiary of 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>) Google has erroneously banned accounts and removed channels worldwide. Now, the platform is working on reinstating them.
What Happened: On Thursday, YouTube said it is aware of the&nbsp;mistakenly&nbsp;removed channels and banned accounts&nbsp;for policy breaches.
The platform is &#8220;actively working on reinstating the&nbsp;channels&#8221; and restoring access to paid services like YouTube TV, YouTube Premium, and YouTube Music subscriptions.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Hi Creators &#8211; We&#39;re aware of an issue causing some channels to be incorrectly flagged for Spam and removed. Our teams are looking into this and reinstating the channels right now &#8211; thanks so much for your patience. More information: <a href="https://t.co/xQ9AFg0woc">https://t.co/xQ9AFg0woc</a>
&mdash; TeamYouTube (@TeamYouTube) <a href="https://twitter.com/TeamYouTube/status/1841978197086245225?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41149666/nvidias-blackwell-gpu-sets-new-ai-benchmark-with-over-100-system-configurations-ana?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s Blackwell GPU Sets New AI Benchmark With Over 100 System Configurations, Analyst Says</a>
Users affected by this glitch&nbsp;have lost access to their&nbsp;YouTube accounts, preventing them from watching videos or listening&nbsp;to YouTube Music. YouTube Premium&nbsp;subscribers have also been impacted,&nbsp;with playlists and other saved&nbsp;content currently inaccessible for some.
Users across the globe, including in the U.S., Europe, and Asia, were informed of the account ban or channel removal through emails from YouTube.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Did <a href="https://twitter.com/YouTube?ref_src=twsrc%5Etfw">@YouTube</a> just ban all of its users? I had a decade old account that only had unheard music demos on it. And there's a bunch of posts on X that are similar.
&mdash; Lofi Jason (@JasonRumley_) <a href="https://twitter.com/JasonRumley_/status/1841957213105226033?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/TeamYouTube?ref_src=twsrc%5Etfw">@TeamYouTube</a> <a href="https://twitter.com/YouTube?ref_src=twsrc%5Etfw">@YouTube</a> my youtube channel was permanently removed. for no reason. then it got put back up, but 90% of my videos are removed from the platform. i need help. because i dont want any of my hard work to go to waste. <a href="https://t.co/eacYFOoBDH">pic.twitter.com/eacYFOoBDH</a>
&mdash; Juke! (@jukeboxjukee) <a href="https://twitter.com/jukeboxjukee/status/1841972599980503087?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
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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.
YouTube has provided an appeal process for affected users, and several reports indicate that this has been successful in restoring account access. However, some users have reported that their playlists are still missing post-restoration.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Update: They restored my deleted YouTube channel but I am still waiting an explanation on what happened. Apparently I'm not the only one, so it's pretty scary how sudden and quickly your account and channel can be taken down and deleted without warning. I'm really concerned… <a href="https://t.co/7nSjaeqU5v">pic.twitter.com/7nSjaeqU5v</a>
&mdash; Hey Hedgehog! &#x1f994; (@Hey_Hedgehog) <a href="https://twitter.com/Hey_Hedgehog/status/1841989836967969190?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tonight I received a mail from Youtube saying that my youtube channel was completely deleted because of the serious or repeated violations of the policies about spam, deceptive practices, and fraud policies. Then after 30 minutes they contacted me again apologizing &#x1f605; WHAT?
&mdash; Annie Cyborg (アニー・サイボーグ) (@anniecyborg) <a href="https://twitter.com/anniecyborg/status/1841970508134298003?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
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Why It Matters: This glitch comes on the heels of a series of controversial decisions by YouTube.
Last month, YouTube introduced &#8220;Pause ads,&#8221; a feature that displays advertisements even <a href="https://www.benzinga.com/news/24/09/40951748/there-is-no-escaping-youtube-ads-even-after-hitting-the-pause-button-disgruntled-users-cry-foul-an-a">when a video is paused</a>, leading to users&#8217; discontent.
Later that month, YouTube also restricted access to songs by renowned artists such as Adele, Bob Dylan, and Green Day in the U.S. due to a <a href="https://www.benzinga.com/news/24/09/41085603/youtube-blocks-us-access-to-adele-bob-dylan-songs-amid-rights-dispute-googles-video-platform-respond">legal dispute with the performing rights</a> organization, SESAC.
Meanwhile, earlier this week, Apple Inc. removed Juno, an unofficial YouTube app designed for Vision Pro, from its App Store following a <a href="https://www.benzinga.com/news/24/10/41134764/apple-removes-unofficial-youtube-app-for-vision-pro-from-app-store-developer-disagrees-but-says-zero">warning from Google</a>.
Photo by Sky Motion on 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>.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

GOOG

GOOGL

YouTube Bug Bans Users And Removes Channels: Google's Video Streaming Service Says They Know About It

Germany is poised to vote against the European Union&#8217;s <a href="https://www.benzinga.com/news/24/09/40810974/us-ally-urges-eu-to-reconsider-tariffs-on-chinese-evs-we-dont-need-another-war">proposed tariffs on Chinese electric vehicles this Friday</a>. This decision comes after significant pressure from industry leaders on German Chancellor Olaf Scholz.
What Happened: Germany had previously abstained from a non-binding vote in July concerning the European Commission&#8217;s tariff proposal. The Commission&#8217;s plan requires a qualified majority of 15 EU member states, representing 65% of the EU population, to be implemented, Reuters reported on Friday, citing people with knowledge of the matter. 
France, Greece, Italy, and Poland are reportedly in favor of the tariffs, which could push the measure through.
The Commission argues that the tariffs are necessary to counteract subsidies such as cheap loans and raw materials, aiming for a level playing field rather than excluding Chinese manufacturers. 
However, German carmakers, who derive a significant portion of their sales from China, oppose the tariffs due to fears of retaliatory actions and potential trade conflicts.
The influential German labor union IG Metall and employee representatives from major car manufacturers have issued a joint statement urging Germany to vote against the tariffs, stating, &#8220;tariffs are the wrong approach because they will not improve the competitiveness of the European automotive industry.&#8221;
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has been granted provisional approval by <a href="https://www.benzinga.com/news/24/07/39640029/teslas-giga-berlin-expansion-gets-environmental-authority-approval-after-chancellor-scholz-voiced-ai">German authorities to expand its Gigafactory</a> near Berlin, a key move that underscores Tesla&#8217;s growing presence in Europe&#8217;s EV market. 
The German Automotive Industry Association (VDA) reports that 1.27 million battery electric and plug-in hybrid vehicles were manufactured in Germany in 2023, making it the second-largest EV producer globally, behind China. 
Although China dominates global EV output, most of its vehicles are sold domestically, whereas 76% of German EVs are exported, highlighting Germany&#8217;s pivotal role in the international EV market.
Germany&#8217;s carmakers are renowned for their engineering excellence, with brands like Volkswagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>), which owns ŠKODA, SEAT, CUPRA, Audi, Lamborghini, Bentley, and Porsche; Mercedes-Benz Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MBGAF#OTC">MBGAF</a>); and Bayerische Motoren Werke AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>), which owns BMW, MINI, and Rolls-Royce. 
See Also: <a href="https://www.benzinga.com/news/24/10/41161763/european-telecom-giants-threaten-legal-action-against-elon-musks-starlink-over-potential-fcc-rule-ch?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">European Telecom Giants Threaten Legal Action Against Elon Musk&#8217;s Starlink Over Potential FCC Rule Changes</a>
Why It Matters: The European Union&#8217;s decision on tariffs for Chinese electric vehicles has been a contentious issue, with potential repercussions for international trade. The EU aims to protect its automobile industry from the influx of cheaper Chinese EVs, which <a href="https://www.benzinga.com/news/24/10/41143690/european-tariffs-on-chinas-ev-makers-could-backfire">accounted for 54% of total EV imports</a> to the EU in 2023.
However, this protectionist stance could spark a broader trade war with China, jeopardizing the EU&#8217;s export-dependent companies and its EV targets.
China has already approached the World Trade Organization regarding similar tariffs imposed by Canada, highlighting the potential for <a href="https://www.benzinga.com/news/24/09/40914629/china-warns-eu-tariffs-on-evs-will-harm-trade-with-germany">escalating trade tensions</a>. China&#8217;s commerce minister has warned that the EU&#8217;s tariffs could significantly disrupt trade, particularly with Germany. 
Additionally, Spain&#8217;s Prime Minister Pedro Sánchez has called for a <a href="https://www.benzinga.com/news/24/09/40810974/us-ally-urges-eu-to-reconsider-tariffs-on-chinese-evs-we-dont-need-another-war">reevaluation of the EU&#8217;s stance</a>, emphasizing the need for compromise to avoid further trade disputes.
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Image Via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Eurozone

BMWYY

MERCEDES BENZ GROUP AG by Mercedes Benz Group AG

MBGAF

VWAGY

Germany, Home To Mercedes And BMW, Set To Oppose EU Tariffs On Chinese EVs: Report

Renowned economist Peter Schiff scoffed at Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) HODLers for being oblivious to the impending bear market.
What Happened: On Thursday, the staunch Bitcoin critic took to X to highlight the leading cryptocurrency&#8217;s decline against gold—an asset Schiff vehemently advocates for.
&#8220;For now, Bitcoin is holding $60,000 support. More significantly, it&#8217;s down 40% priced in gold since hitting its record high just under 3 years ago,&#8221; Schiff remarked.
He urged Bitcoin investors to &#8220;Wake up, and smell the bear market.&#8221; He used the famous &#8220;frog in a boiling water&#8221; theory to ridicule them, asking, &#8220;How much longer will you let the water temperature rise before jumping out of the pot?&#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">For now, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is holding $60K support. More significantly, it&#39;s down 40% priced in <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> since hitting its record high just under 3 years ago. Wake up, and smell the bear market, <a href="https://twitter.com/hashtag/HODLers?src=hash&amp;ref_src=twsrc%5Etfw">#HODLers</a>. How much longer will you let the water temperature rise before jumping out of the pot?
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1841894299685748926?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Schiff has a knack for comparing Bitcoin in gold&#8217;s terms, rather than the dollar. While the apex cryptocurrency has indeed retraced this week owing to geopolitical tensions, year-to-date it was still up 44%, compared to spot gold&#8217;s 29% rise.</figcaption></figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41163698/grammy-nominated-rapper-logic-invested-6m-in-bitcoin-nearly-4-years-ago-this-is-how-much-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Grammy-Nominated Rapper Logic Invested $6M In Bitcoin Nearly 4 Years Ago: This Is How Much His Stash Would Be Worth Today</a>
Why It Matters: Schiff&#8217;s comments follow a series of similar hot takes on Bitcoin&#8217;s underperformance vis-à-vis gold&#8217;s growth.
Last week, he pointed out that gold had reached another record high, but the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40994964/peter-schiff-isnt-pleased-with-markets-bitcoin-obsession-while-gold-is-touching-record-hig">significance of this rise has been overlooked</a> due to the overwhelming focus on Bitcoin.
In fact, Schiff <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41059769/peter-schiff-wants-to-know-if-bitcoin-fans-really-care-about-king-crypto-underperforming-g">added an X poll to ascertain if Bitcoin investors were worried</a> about the leading cryptocurrency&#8217;s declining value against gold. Interestingly, more than 75% voted that they were not worried, while just about 22% hinted that they were concerned.
Price Action: At the time of writing, Bitcoin was exchanging hands at $60,941.26, down 0.43% 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>.&nbsp;
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41177884/mark-cuban-an-ardent-kamala-harris-supporter-isnt-keen-on-elizabeth-warren-as-he-is-on-her">Mark Cuban, An Ardent Kamala Harris Supporter, Isn&#8217;t Keen On Elizabeth Warren As He Is On Her Pro-Crypto GOP Rival: Here&#8217;s Why</a></li>
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Peter Schiff Compares Bitcoin Investors To Frogs On The Boil: 'How Much Longer Will You Let The Water Temperature Rise Before Jumping Out Of The Pot?'

Leading cryptocurrencies moved sideways Thursday as investors awaited <a href="https://www.benzinga.com/trading-ideas/previews/24/10/41170128/jobs-report-preview-could-september-labor-data-shift-feds-interest-rate-path">key employment data releases</a> to gather insight into the economy&#8217;s health.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.08%</td>
<td>$61,059.00</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-0.72%</td>
<td>$2,370.40</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+0.30%</td>
<td>$0.1065</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin wobbled in the $60,000 zone for much of the day before an overnight flourish saw it sail above $61,200.&nbsp;
Ethereum too meandered in the $2,300 region, failing to break above $2,400.
Sentiment has been damp <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil">since Iran's missile barrage against Israel</a> on Tuesday, with both Bitcoin and Ether correcting significantly, by 4.5% and 9.11%, respectively, since then.
Liquidations continued to bog the market down, with more than $192 million locked in the derivatives market getting erased in the last 24 hours. Upside bets accounted for 74% of the total.
Bitcoin's Open Interest rose 0.85% in the last 24 hours, going against the price drop. This possibly indicated new short positions getting opened.
The coin's Long/Short Ratio also surged to 1.09, indicating a higher number of traders placing bullish bets as compared to those gunning for price declines.
The Cryptocurrency Fear &amp; Greed Index rose from 37 to 41, although the predominant sentiment remained one of "Fear."
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>Aptos (APT)</td>
<td>+7.36%</td>
<td>$8.54</td>
</tr>
<tr>
<td>Monero (XMR)</td>
<td>+4.81%</td>
<td>$143.85</td>
</tr>
<tr>
<td>Stacks (STX)</td>
<td>+4.20%</td>
<td>$1.88</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.12 trillion in the last 24 hours, following a narrow drop of 0.36%.
Stocks slipped during Thursday's trading. The Dow Jones Industrial Average lost 184.93 points, or 0.44%, to end at 42,011.59. The S&amp;P 500 slid 0.17% to close at 5,699.9. The tech-heavy Nasdaq Composite closed 0.04% lower at 17,918.48.
The Dow and S&amp;P 500 were down 7% this week on escalating geopolitical tensions in the Middle East.
Investors also weighed the <a href="https://www.benzinga.com/government/24/10/41164443/us-weekly-jobless-claims-increase-modestly-to-225k">higher-than-expected weekly jobless claims data</a> for the week ending Sept. 28. Participants now await the nonfarm payrolls data, due to be released Friday, to gain a better understanding of the labor market and state of the economy.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Influential cryptocurrency researcher Ali Martinez flagged $60,365 as a key level to watch out for Bitcoin.
"If BTC breaks below this, we could see a dip to $57,420. But if BTC holds, a rebound to $63,300 is on the table," the analyst remarked.
<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">Key <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> level to watch: $60,365! If <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> breaks below this, we could see a dip to $57,420. But if <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> holds, a rebound to $63,300 is on the table. All eyes on $60,365! &#x1f440;&#x1f440;&#x1f440;&#x1f440;&#x1f440; <a href="https://t.co/2bDJVLWBtI">pic.twitter.com/2bDJVLWBtI</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1841882152528486606?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Widely-followed cryptocurrency analyst Michaël van de Poppe believed Bitcoin correcting in the first week of October is "relatively standard" due to the release of unemployment numbers.&nbsp;
"We expect to reverse from next week, through which dips are for buying!" he forecasted.
<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"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is correcting in the first week of October. It&#39;s relatively standard, as it&#39;s unemployment week. We expect to reverse from next week, through which dips are for buying! <a href="https://t.co/5QifVoMW62">pic.twitter.com/5QifVoMW62</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1841855734361030783?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by CMP_NZ on Shutterstock
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Movers

$DOGE

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Bitcoin, Ethereum, Dogecoin Stay Muted As Investors Brace For September Jobs Report — Analyst Says Unemployment Week Drop Standard For King Crypto: 'Dips Are For Buying!'

On Thursday, U.S. markets saw losses, with the Dow Jones Industrial Average falling 0.4% to 42,011.59, the S&amp;P 500 closing down almost 0.2% at 5,699.94, and the NASDAQ slipping 0.04% to end at 17,918.48.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)
Palantir&#8217;s shares rose 4.67% to close at $39.24, with an intraday high and low of $39.29 and $37.37 respectively. The stock&#8217;s 52-week high and low stand at $39.29 and $14.48. The company&#8217;s co-founder, Peter Thiel, recently completed selling the maximum number of shares under a trading plan he initiated in May. Additionally, Palantir announced a <a href="https://www.benzinga.com/news/24/10/41167646/whats-going-on-with-palantir-stock-today">strategic partnership</a> with Edgescale AI to enhance AI operations in various industrial sectors.
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)
Amazon&#8217;s stock fell 1.52% to close at $181.96. The shares hit an intraday high of $183.44 and a low of $180.88. The 52-week high and low are $201.2 and $118.35 respectively. The company is reportedly set to <a href="https://www.benzinga.com/general/entertainment/24/10/41162458/amazon-ceo-andy-jassy-said-prime-video-will-have-meaningfully-fewer-ads-than-rivals-2-month">increase the number of advertisements</a> on its Prime Video platform starting next year as part of its broader strategy to enhance its ad-supported streaming services.
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)
Meta&#8217;s shares increased 1.74% to close at $582.77, with an intraday high and low of $583.36 and $568.73 respectively. The stock&#8217;s 52-week high and low are $583.36 and $279.4. The social media company has <a href="https://www.benzinga.com/news/24/10/41176448/mark-zuckerbergs-facebook-paid-2b-to-content-creators-in-the-past-year-and-it-wants-to-pay-out-more">paid out over $2 billion</a> to content creators this year as it works to boost monetization efforts for users of the platform.
Spirit Airlines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>)
Spirit Airlines&#8217; stock dipped 3.45% to close at $2.24. The shares hit an intraday high of $2.43 and a low of $2.22. The 52-week high and low are $17.49 and $2.22 respectively. The budget airline is reportedly in discussions with bondholders regarding the terms of a potential <a href="https://www.benzinga.com/markets/equities/24/10/41178053/spirit-airlines-engages-in-bankruptcy-talks-amid-financial-struggles-report">bankruptcy filing</a> following a failed merger with JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>).
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s shares fell 3.35% to close at $240.67. The shares hit an intraday high of $249.79 and a low of $237.81. The 52-week high and low are $271 and $138.8 respectively. The electric vehicle maker returned to growth with <a href="https://www.benzinga.com/general/education/24/10/41166723/how-many-evs-has-tesla-delivered-produced-each-quarter-a-look-at-the-results-since-2019">third-quarter delivery figures</a> showing a year-over-year increase from the prior year.
Photo by WHYFRAME on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

AMZN

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Palantir, Amazon, Meta, Spirit Airlines, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Spirit Airlines Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) is reportedly in discussions with bondholders regarding the terms of a potential bankruptcy filing. The budget airline is exploring restructuring options <a href="https://www.benzinga.com/news/24/03/37455281/jetblue-spirit-airlines-shares-are-moving-monday-whats-going-on">following a failed merger</a> with JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>).
What Happened: Spirit is considering a Chapter 11 filing as it grapples with significant financial challenges. The airline is also looking into restructuring its balance sheet through an out-of-court transaction, <a href="https://www.wsj.com/articles/spirit-airlines-in-talks-with-bondholders-over-terms-of-potential-bankruptcy-filing-fdd23fae">reported</a> The Wall Street Journal on Thursday, citing people familiar with the matter.
However, according to the report, recent discussions have primarily focused on securing an agreement with bondholders and creditors to support a bankruptcy filing. 
Spirit is facing mounting pressure due to its $3.3 billion debt load, which includes over $1.1 billion in secured bonds maturing within a year. The airline must refinance or extend these notes by Oct. 21, as per its credit card processor&#8217;s deadline. 
CEO Ted Christie mentioned in August that the company is in active discussions with bondholders&#8217; advisers to address these maturities.
&#8220;Before we get into the results, I want to note that we are engaged in productive conversations with the advisors of our bondholders to address the upcoming debt maturities. Because those conversations are ongoing, we are not going to go into detail or take any questions on this topic or speculate on potential outcomes. Needless to say, it is a priority, and we are focused on securing the best outcome for the business as quickly as possible, while staying focused on driving performance and implementing our new travel options and elevated guest experience," Christie said in the August earnings call. 
Spirit&#8217;s financial woes have been exacerbated by its inability to turn an annual profit since before the COVID-19 pandemic. The airline&#8217;s operational footprint is shrinking, with plans to reduce capacity by nearly 20% in the fourth quarter. 
Additionally, Spirit has been affected by the recall of Pratt &amp; Whitney engines, grounding part of its fleet and leading to pilot furloughs.
See Also: <a href="https://www.benzinga.com/news/24/09/41087674/openais-searchgpt-set-to-disrupt-googles-search-empire-as-former-engineer-sounds-alarm-on-deteriorat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI&#8217;s SearchGPT Set To Disrupt Google&#8217;s Search Empire As Former Engineer Sounds Alarm On Deteriorating User Experience Amid Rising Competition</a>
Why It Matters: The potential bankruptcy filing by Spirit Airlines comes in the wake of a <a href="https://www.benzinga.com/news/24/03/37455281/jetblue-spirit-airlines-shares-are-moving-monday-whats-going-on">terminated merger agreement</a> with JetBlue Airways. 
The two companies had initially planned a merger valued at $3.8 billion, which was expected to create a strong low-fare competitor in the airline industry. However, the merger was called off in March due to unmet conditions, impacting Spirit&#8217;s strategic plans. 
Meanwhile, JetBlue has been focusing on its turnaround strategy, bolstered by <a href="https://www.benzinga.com/news/24/09/40779100/air-travel-demand-and-lower-fuel-costs-to-propel-jetblues-turnaround-analyst-upgrades-stock">rising air travel demand and lower fuel costs</a>. Analysts have upgraded JetBlue&#8217;s stock, projecting a significant liquidity position by 2026.
Spirit Airlines has also <a href="https://www.benzinga.com/news/24/07/40043751/whats-going-on-with-spirit-airlines-stock">faced regulatory challenges</a>, such as a temporary block on a rule requiring airlines to disclose fees upfront. This legal development briefly boosted Spirit&#8217;s stock in July.
Price Action: Spirit Airlines Inc. stock closed at $2.24 on Thursday, down 3.45% for the day. In after-hours trading, the stock plummeted by 30.38% to $1.56. Year to date, Spirit Airlines has fallen significantly, down 86.30%.
Meanwhile, JetBlue Airways Corporation ended the day at $6.39, down 2.74%. In after-hours trading, the stock rose by 4.85%. Year to date, JetBlue has gained 21.25%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
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Photo via Wikimedia Commons
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Spirit Airlines Engages In Bankruptcy Talks Amid Financial Struggles: Report

After securing a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41175197/openais-latest-eye-popping-valuation-ignites-analyst-expectations-for-tidal-wave-of">whopping $6.6 billion funding</a> round, ChatGPT-parent&nbsp;OpenAI has bagged a&nbsp;$4 billion revolving credit line.
What Happened: The new credit facility will bolster its liquidity to $10 billion, allowing the AI startup to invest in high-cost <a href="https://www.benzinga.com/markets/equities/24/07/39856365/openai-in-talks-with-broadcom-to-develop-new-ai-chip-aims-to-reduce-reliance-on-nvidia-report">computing capacity</a> including Nvidia Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips.
&#8220;This credit facility further strengthens&nbsp;our balance sheet and provides&nbsp;flexibility to seize future growth&nbsp;opportunities,&#8221; said OpenAI CFO&nbsp;Sarah Friar, in a blog on Thursday.
The credit line is facilitated by a consortium of banks: JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Citigroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Banco Santander S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAN#NYSE">SAN</a>), Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), Sumitomo Mitsui Banking&nbsp;Corporation, UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>), and HSBC Holdings plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSBC#NYSE">HSBC</a>).
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Why It Matters: Earlier this week, OpenAI, <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">valued at nearly $157 billion</a>, raised funds&nbsp;from returning venture capital investors&nbsp;such as&nbsp;Thrive Capital and Khosla Ventures.
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which has already invested approximately $13 billion into the AI firm over the last five years,&nbsp;and new investor Nvidia, also&nbsp;participated in the funding round.
Despite <a href="https://www.benzinga.com/news/24/09/41059344/sam-altman-hits-back-at-trolls-after-mira-muratis-openai-exit-explains-executive-drain-as-natural-we">major executive changes</a>, including the sudden exit of CTO Mira Murati, investors remain optimistic about OpenAI&#8217;s growth prospects.
However, OpenAI has also faced criticism from Elon Musk, who accused the company of&nbsp;<a href="https://www.benzinga.com/news/24/10/41156902/elon-musk-says-openai-is-evil-after-chatgpt-parent-reportedly-asked-investors-not-to-invest-in-rival">unfair funding practices</a>.
On the other hand, analysts expect a &#8220;tidal wave&#8221; of AI spending, with OpenAI&#8217;s latest valuation seen as a trigger for this growth stage.
Photo Courtesy: 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>.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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