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Schibsted ASA is a Norway-based multimedia group that owns and operates newspapers, online classified advertisement websites, publishing houses, and other multimedia services. The company's largest sources of revenue are its Norwegian and Swedish newspapers and tabloid magazines such as Verdens Gang, Aftenposten, and Aftonbladet. It also operates other regional magazines, classified websites, and local newspapers in over 25 different countries around Europe, Asia, Latin America, and Africa. Schibsted's largest newspaper operations outside of Scandinavia are based in Spain and France.

Schibsted ASA

In a recent development, Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) has made a final pay offer to its striking workers, but the workers&#8217; union has declined to put it to a vote.
What Happened: Boeing, on Monday, made a <a href="https://www.benzinga.com/news/24/09/40992886/boeing-stock-climbs-as-company-sweetens-labor-deal-what-you-need-to-know">&#8220;best and final&#8221; pay offer</a> to its striking workers, which included reinstating a performance bonus, enhancing retirement benefits, and doubling a ratification bonus to $6,000 if the workers accepted the offer by Friday, Reuters reported on Tuesday.
The International Association of Machinists and Aerospace Workers (IAM) declined to vote on the offer, stating that the planemaker had refused to negotiate over the proposal, which did not meet the members&#8217; demands.
&#8220;Logistically we don&#8217;t have the ability to set up a vote for 33,000 people in a few days like that anyway. Plus, it missed the mark on many of the things our members said were important to them,&#8221; said Jon Holden, the president of IAM District 751.
&#8220;We are not obligated to vote (on) their offer. We may, down the road. But our hope is that we can get into some discussion so we can actually address the need of our members.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40972472/x-rays-microwaves-and-now-what-this-company-freezes-weed-at-320-f-to-kill-mold-and-save-a-ton?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">X-Rays, Microwaves And Now What? This Company Freezes Weed At -320°F To Kill Mold And Save A Ton</a>
The strike, which began on Sep. 13, is the union&#8217;s first since 2008. The workers, who are seeking a 40% pay increase and the reinstatement of a performance bonus, had previously rejected an offer by the company.
Why It Matters: The rejection of Boeing&#8217;s final offer comes after the company sweetened its labor deal in an attempt to end the strike that has been costing the planemaker hundreds of millions of dollars each week. The strike began after <a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40942814/boeing-braces-for-turbulence-as-strikes-furloughs-send-stock-sliding-bearish-signals-pre">more than 30,000 machinists </a>in Seattle and Oregon rejected Boeing&#8217;s latest contract offer, with 96% voting to walk off. Despite a 25% raise on the table, workers argued the offer failed to match the skyrocketing cost of living in the Seattle area. Negotiations remain tense, and the union&#8217;s frustration is mounting.
Boeing&#8217;s stock has been affected by the strike, with the company furloughing thousands of U.S. employees, executives, and non-essential contractors in a bid to cut costs.
Price Action: As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, Boeing stock closed 1.96% higher at $156.30 on Monday after the company presented the new deal. However, post the rejection, the stock was trading only slightly lower, around 0.15%, during Tuesday&#8217;s pre-market.
Read Next: 
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</ul>
Photo via Shutterstock
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/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

General

Boeing's Striking Workers Reject 'Best And Final' Offer: '...It Missed The Mark On Many Of The Things'

As consideration for the P&amp;A Transaction, ESL Federal Credit Union will pay Generations&nbsp;$26.2 million&nbsp;in cash and Generations Bank will retain its equity at the effective time of the P&amp;A Transaction, less certain reductions and additions.
The P&amp;A Transaction is expected to close late in the&nbsp;second quarter&nbsp;or in the&nbsp;third quarter&nbsp;of 2025.
Generations Bancorp&#39;s shareholders are currently estimated to receive an aggregate of between&nbsp;$18.00&nbsp;and&nbsp;$20.00&nbsp;in cash in exchange for each share of Generations Bancorp common stock owned (the &quot;per share consideration&quot;). I
&nbsp;

News

GBNY

ESL Federal Credit Union Agrees To Acquire Substantially All Assets And Liabilities (Including Deposit Account Liabilities) Of Generations Bank; To Pay Generations $26.2M In Cash

-Reuters Citing Senior Administration Official

APDN

GOVX

MRNA

TNXP

VRAX

President Biden Will Announce Donation Of 1M MPox Vaccine Doses, At Least $500M To African Countries To Support Their Response To Outbreak

XPeng (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) CEO Xiaopeng He said late last week that the Chinese EV maker made its 500,000th vehicle. 
What Happened: &#8220;XPENG&#8217;s 500,000th Smart EV has rolled off the line!&#8221; the CEO announced on social media platform X, formerly Twitter. The CEO also added that it produced 10,000 units of the Mona M03 all-electric hatchback coupe in just 22 days after its launch in late August.
XPeng has been scaling sales through the course of the year, despite <a href="https://www.benzinga.com/markets/equities/24/09/40669363/teslas-china-rivals-report-steady-august-sales-performance-amid-intense-price-competition-what-i">lagging behind its peers</a> such as Li Auto.
In the eight months ended August, XPeng delivered 77,209 EVs, marking an increase of 17% from the corresponding period last year.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="416" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24042306/Je25j-xpeng-deliveries-over-the-years-1024x416.png" alt="" class="wp-image-562565" style="width:576px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24042306/Je25j-xpeng-deliveries-over-the-years-1024x416.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24042306/Je25j-xpeng-deliveries-over-the-years-300x122.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24042306/Je25j-xpeng-deliveries-over-the-years-768x312.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24042306/Je25j-xpeng-deliveries-over-the-years.png 1240w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Why It Matters: In the second quarter alone, XPeng delivered 30,207 EVs and accrued a net loss of $0.18 billion and total revenue of $1.12 billion.
The EV maker, however, is yet to turn a profit. 
The company launched the <a href="https://www.benzinga.com/markets/equities/24/09/40794637/whats-going-on-with-xpeng-stock-today">Mona M03 late last month in China</a>, with a starting price of RMB 119,800 ($17,025). Its more premium variant starts at RMB 155,800 ($22,141), still lower than Tesla Inc.&#8217;s cheapest offering- the Model 3- which starts at over RMB 200,000.
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 More:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40979752/elon-musk-says-buses-wont-be-needed-once-tesla-robotaxis-start-operating-will-take-people-point-" target="_blank" rel="noreferrer noopener">Elon Musk Says Buses Won't Be Needed Once Tesla Robotaxis Start Operating: ‘Will Take People Point To Point For A Similar Cost'</a></li>
</ul>
Photo courtesy: Xpeng

Tech

XPEV

XPeng Touches Production Milestone Of 500K EVs: Here's How Many Electric Cars The Chinese Company Has Delivered

ByteDance&#8217;s TikTok on Monday removed accounts linked to Russian state media outlets RT and Sputnik for <a href="https://www.benzinga.com/markets/equities/24/09/40891684/mark-zuckerbergs-meta-banishes-russian-state-media-globally-to-counter-foreign-influence-rt-and-">violating community guidelines</a>.
What Happened: The social video app stated that the accounts associated with TV-Novosti and Rossiya Segodnya, the parent organizations of RT and Sputnik, were permanently banned for engaging in deceptive behavior. TikTok had already restricted the visibility of these accounts in the European Union and the United Kingdom, <a href="https://www.nbcnews.com/news/us-news/tiktok-removes-rt-sputnik-covert-operations-rcna172358?ref=biztoc.com">reported</a> to NBC News.
Both outlets reported over the weekend that some of their accounts had been deleted without explanation. Sputnik criticized the ban on X, <a href="https://x.com/SputnikInt/status/1837470299077439663">stating</a> that their subscribers are now deprived of crucial geopolitical information.
Secretary of State Antony Blinken has claimed that Russian outlets like RT have transitioned from media operations to covert intelligence activities. Federal prosecutors have charged two RT employees with running a $10 million project to promote Russia-aligned narratives while concealing the funding source, according to the report.
RT's editor-in-chief, Margarita Simonyan, has defended the organization, asserting it will continue its operations in the U.S. despite the bans, according to the report.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40973189/teslas-chinese-rival-byd-plans-to-assemble-evs-in-pakistan-after-india-said-no-we-have-big-ambit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Chinese Rival BYD Plans To Assemble EVs In Pakistan After India Said No: &#8216;We Have Big Ambitions&#8217;</a>
Why It Matters: This move by TikTok comes amid a broader crackdown on Russian state media by major social media platforms. Last week, Meta Platforms Inc. announced a global ban on RT and Rossiya Segodnya, escalating its efforts to <a href="https://www.benzinga.com/markets/equities/24/09/40891684/mark-zuckerbergs-meta-banishes-russian-state-media-globally-to-counter-foreign-influence-rt-and-">combat foreign interference</a>. This ban followed accusations that these outlets used deceptive tactics for covert influence operations online.
Additionally, TikTok is undergoing significant internal changes. On Saturday, TikTok's head of global marketing, Kate Jhaveri, resigned <a href="https://www.benzinga.com/news/24/09/40969365/tiktok-global-marketing-chief-resigns-amid-major-overhaul-heres-what-the-leaked-memo-says">amid a major overhaul</a> aimed at restructuring the company&#8217;s marketing function.
Meanwhile, a three-judge panel at the DC Circuit Court of Appeals last week expressed skepticism during oral arguments in a case involving TikTok and a group of creators contesting a law often referred to as "the TikTok ban." The judges scrutinized TikTok's counsel more rigorously than the U.S. Department of Justice, indicating <a href="https://www.benzinga.com/news/24/09/40890877/tiktoks-future-hangs-in-balance-as-judges-express-skepticism-in-us-court-battle">potential challenges ahead for the platform</a>.
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40946963/bitcoin-worth-63-000-pulled-in-33-pack-of-trading-cards-at-gamestop-mind-boggling-story-go?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Worth $63,000 Pulled In $33 Pack Of Trading Cards At GameStop: ‘Mind-Boggling' Story Goes Viral, Highlights Crypto Redemption Card</a></li>
</ul>
Image Via Shutterstock 
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>

Social Media

Legal

Global

After Meta, TikTok Cracks Down On Russian State Media By Banning RT And Sputnik Accounts For Violating Guidelines

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is gearing up to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40989179/meta-connect-2024-preview-cheaper-vr-expected-analysts-see-augmented-reality-and-ai">announce that its AI chatbot</a> will reportedly be able to mimic the voices of celebrities such as Judi Dench, John Cena, and others.
What Happened: Meta has secured agreements with several actors,&nbsp;including Dench, Kristen Bell, and Cena, to voice its AI chatbot, reported Reuters, citing a source familiar with the plans.
This new audio feature will enable users to choose a voice for Meta&#8217;s&nbsp;digital assistant from a list&nbsp;of five celebrities, which also includes Awkwafina and Keegan-Michael Key, in addition to several generic voice options.
The social media behemoth plans to unveil these&nbsp;audio capabilities at its annual&nbsp;Connect conference, which kicks off on Wednesday.
The celebrity voices will start rolling out in the U.S. and other English-speaking markets this week across Meta&#8217;s suite of apps, which includes Facebook, Instagram, and WhatsApp.
See Also: <a href="https://www.benzinga.com/news/24/09/40973399/apples-former-design-maestro-jony-ive-confirms-hes-joined-forces-with-openais-sam-altman-for-a-new-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Former Design Maestro Jony Ive Confirms He&#8217;s Joined Forces With OpenAI&#8217;s Sam Altman For A New AI Hardware Project</a>
Meta is also anticipated to reveal the first iteration&nbsp;of its augmented-reality glasses at&nbsp;the Connect conference this year. 
The company has been striving to launch&nbsp;generative artificial intelligence products to&nbsp;its billions of users, vying against ChatGPT-parent OpenAI and Alphabet Inc.&#8217;s Google.
Meta&nbsp;CEO Mark Zuckerberg posted a&nbsp;promotional video featuring Cena on&nbsp;Instagram last week, showing the&nbsp;two men and several others&nbsp;engaging in stunts while wearing&nbsp;the Ray-Ban Meta glasses.
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.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24041554/Screenshot-2024-09-24-at-1.45.31%E2%80%AFPM-1024x923.png" alt="" class="wp-image-562553" style="width:529px;height:auto" /><figcaption class="wp-element-caption">Screenshot</figcaption></figure>
Why It Matters: This latest development by Meta comes in the wake of a controversy involving&nbsp;OpenAI and Scarlett Johansson, where the actress accused the AI company of using a voice modeled <a href="https://www.benzinga.com/general/entertainment/24/05/38951041/scarlett-johanssons-clash-with-openai-over-chatgpt-voice-reveals-dark-side-of-ai">after hers without consent</a>.
This incident highlighted the need for regulations to protect artists and creators from being exploited by AI tools.
Elon Musk, CEO of Tesla and SpaceX and founder of xAI, <a href="https://www.benzinga.com/news/24/05/38949924/obviously-a-ripoff-elon-musk-slams-openai-for-mimicking-scarlett-johansson-in-gpt-4o-they-were-liter">also criticized OpenAI</a>, the company he co-founded in 2015 but later parted ways with, for replicating the actor's voice.
The&nbsp;Screen Actors Guild-American Federation of Television and Radio Artists or SAG-AFTRA also&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/05/38956092/scarlett-johansson-gets-backing-from-actors-union-in-ai-voice-dispute-with-openai">supported Johansson in her</a> dispute with OpenAI.
The use of AI to replace voice actors and creators was a central topic of debate during last year's writers&#8217; strike in Hollywood.
Check out more of Benzinga'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:
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<li><a href="https://www.benzinga.com/news/24/09/40911877/jeff-bezos-had-a-habit-of-keeping-an-empty-chair-for-the-most-important-person-in-the-room-at-compan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jeff Bezos Had A Habit Of Keeping An Empty Chair For The Most Important Person In The Room At Company Meetings: This Strategy Helped The Amazon Founder Build The E-Commerce Giant We Know Today</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Media

Meta's AI Chatbot To Mimic Voices Of Celebrities Like Judi Dench And John Cena: Here's What Mark Zuckerberg-Led Company Has Learned From OpenAI-Scarlett Johansson Fiasco

With only 40 days remaining until the election,<a href="https://www.benzinga.com/topic/mary-trump"> Mary Trump,</a> the niece of former President Donald Trump and a psychologist, warned about potential attempts to undermine the electoral process.
Reading Between Lines: Every time Donald Trump opens his mouth, something &#8220;incomprehensible, delusional, or terrifying&#8221; comes out of it, which is outrageous and shocking, said Mary Trump in a substack post on Monday. That said, the psychologist and author said Americans should pay attention to what her uncle keeps saying over and over again.
She noted that Donald Trump said in a recent interview that he doesn&#8217;t need votes and that he has so many votes. &#8220;We should be suspicious of a man who, while running for president, tells people he doesn't need any more votes,&#8221; she said.
Trump Campaign did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga's</a> request for comment.
Reading between the lines, Mary Trump said a lack of interest shown by her uncle to campaign is potentially due to his preparing for cheating.
&#8220;Just as in 2020, Donald's coup is already well underway,&#8221; Mary Trump said. He has been spreading lies that the Democrats are trying to steal the election, falsely claiming that the election is being rigged against him, she said. &#8220;He's convinced that his right to be back in the White House supersedes his need to play by the rules,&#8221; she said, adding that &#8220;his followers feel the same way.&#8221;
The election board of Georgia, which has a &#8216;MAGA majority,&#8217; voted three to two to require hand-count of ballots, said Mary Trump, calling it an &#8220;example of engineering election results in a key swing state. This will cause, which the Republican campaign is counting on,&#8221; she said.
See Also:<a href="https://www.benzinga.com/news/24/09/40974653/trump-vs-harris-vice-president-leads-in-2-more-new-polls-but-pollster-says-undecided-republicans-can"> Trump Vs. Harris: Vice President Leads In 2 More New Polls But Pollster Says Undecided Republicans Can Come Back Home To Bolster Ex-President</a>
Reaching Out To MAGA Base: Mary Trump noted that her uncle never appeals to voters beyond his base, neither to independents nor women in the suburbs.
The reason why he is talking so much to his base this close to the election is that he is confident that his &#8220;sycophants and enablers—from local election boards to the U.S. Congress—are going to pre-rig the results in swing states where polls show a frighteningly close race,&#8221; she said.
Call To Nebraska Voters: Mary Trump also flagged the risk of Sen. Lindsey Graham (R-S.C.) working to change the way Nebraska awards its electoral votes. Nebraska and Maine both give two electoral votes to the winner of the state and one electoral vote to the winner of each Congressional district as opposed to the other states, which are &#8220;winner-take-all,&#8221; she said.
Graham has been pressuring the Nebraska legislators to change the methodology currently in place, she said.
One potential vote in the Omaha area, according to Mary Trump, can get Democrats to 270 electoral voters if they also win <a href="https://www.benzinga.com/news/24/09/40969584/trump-vs-harris-this-candidate-has-the-edge-in-latest-swing-state-polls">Michigan, Pennsylvania and Wisconsin. </a>
&#8220;Though it's a long shot, under the right circumstances that one electoral vote could decide the presidential election in a country that, because of the electoral college, does not honor the principle of &#8216;one person, one vote,'&#8221; she said.
Graham&#8217;s efforts have been stymied by holdouts from his party such as Sen. Mike McDonnell (R-Neb.), she added.
Did You Know?
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<li>Congress Is Making Huge Investments.&nbsp;<a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Image via Shutterstock

Politics

Trump's Niece Slams Republicans For 'Engineering' Election Results In Key Swing State Of Georgia: 'Donald's Coup Is Already Well Underway'

Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) a global payments giant reportedly faces charges by the United States Department of Justice for allegedly monopolizing the domestic debit card industry
What Happened: DOJ&#8217;s antitrust division is expected to accuse Visa in federal court due to its participation in various anti-competitive activities, <a href="https://www.bloomberg.com/news/articles/2024-09-23/visa-faces-justice-department-antitrust-case-over-debit-cards">reported</a> Bloomberg on Tuesday, citing people familiar with the matter. 
These measures include exclusivity agreements intended to keep rivals from entering the debit card industry.
The case is the outcome of years-long&nbsp;research into Visa&#8217;s business practices that started in the wake of the company&#8217;s failed acquisition attempt of Plaid Inc in 2021. Visa&#8217;s &#8220;tokenization&#8221; technology pricing was also examined by the Justice Department.
According to the report, the government believes Visa&#8217;s actions hindered the expansion of rival networks and blocked technology companies from entering the market. 
Last year, Mastercard Inc. settled a separate enforcement action by the U.S. Federal Trade Commission concerning its tokenization technology practices.
Visa and the Justice Department did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/etfs/sector-etfs/24/09/40990914/oil-falls-energy-stocks-flat-as-fears-of-demand-drop-off-eclipse-israel-hezbollah-conflict-escal">Oil Falls, Energy Stocks Flat As Fears Of Demand Drop Eclipse Israel-Hezbollah Conflict Escalation</a>
Why It Matters: The Justice Department&#8217;s lawsuit against Visa is part of a larger series of antitrust cases that the federal agency is pursuing against big firms.
The DOJ has been aggressively pursuing prosecutions in <a href="https://www.benzinga.com/news/24/09/40758622/doj-probes-googles-ai-strategy-as-it-looks-to-snap-its-monopoly-in-search">recent times to stop monopolistic activities</a> across various industries. For example, Alphabet Inc.&#8217;s AI strategy and market dominance in search are the subject of a DOJ investigation.
The DOJ has also been <a href="https://www.benzinga.com/government/24/09/40719936/nvidia-has-not-been-subpoenaed-by-doj-whats-going-on">investigating other large technology companies</a>, such as NVIDIA Corp., for possible antitrust breaches, however, the chipmaker clarified it has not received any subpoenas, the day after the company lost over $300 billion in market capital following the news. 
Visa&#8217;s case comes after a series of <a href="https://www.benzinga.com/government/24/08/40140918/tiktok-is-repeat-offender-with-childrens-privacy-violations-doj-says-in-lawsuit">well-known antitrust cases</a>, such as one against TikTok, a social media company owned by ByteDance, for allegedly breaking children&#8217;s privacy rules.
Price Action: On Monday Visa Inc.&#8217;s stock traded at $288.63 and saw a gain of 1.36%. The stock fell 1.78% during after-hours trading. However, the <a href="https://www.benzinga.com/pro/login">data from Benzinga Pro</a> suggests that Visa has risen by 11.50% so far this year.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cannabis/24/09/40972472/x-rays-microwaves-and-now-what-this-company-freezes-weed-at-320-f-to-kill-mold-and-save-a-ton?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta Connect 2024 Preview: Cheaper VR Expected, Analysts See Augmented Reality And AI As Major Focus</a></li>
</ul>
Image Via Shutterstock

Equities

Markets

Visa Reportedly Faces DOJ Antitrust Lawsuit Alleging Monopolization Of US Debit Card Market Amid Regulatory Crackdown

SMTC

Semtech Announced Availability Of Its One-channel LoRaWAN Hub Reference Design And Evaluation Kit Targeting Smaller Scale Network Deployments Such As For SMB/SME And Smart Home Applications

Asset Sales

Brookfield Asset Management And Its Institutional Partners, Including Its Listed Affiliate Brookfield Renewable, Entered Into An Agreement With CDPQ To Sell Its 25% Stake In First Hydro Company For An Undisclosed Amount

Chrysler parent Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) on Monday denied allegations made by United Auto Workers (UAW) President Shawn Fain that the company failed to keep its commitments made to union workers under an agreement reached last year. 
What Happened: In a Facebook live dated Sept. 17, Fain said that Stellantis has broken promises made to the workers and that several of its local chapters are preparing to strike. The union alleges that Stellantis is attempting to move the production of the Dodge Durano SUV out of the U.S. and is also looking to not reopen the idled Belvidere assembly plant in Illinois despite it being promised.
"To be clear, Stellantis has abided, and will continue to abide, by the agreement the parties reached in 2023," Stellantis North America COO Carlos Zarlenga&nbsp;wrote in an email to Fain on Monday. 
Stellantis said that the timelines and investment promises provided during the negotiations last year are not &#8220;absolute guarantees&#8221; but dependent upon multiple factors including market conditions. 
&#8220;There is indisputable volatility in the market, especially as the industry transitions to an electrified future,&#8221; the company said, while adding that that several investments and products have been canceled across the automaking industry over the past year.
The company has not made an announcement regarding the production allocation of the next generation of Dodge Durango, Stellantis said, while adding that the decision to delay the reopening of the Belvidere plant is due to the current &#8220;challenging automotive landscape.&#8221;
Why It Matters: Last week, UAW said that it <a href="https://www.benzinga.com/news/24/09/40894503/uaw-files-nlrb-complaint-against-stellantis-over-alleged-contract-violations-says-it-intends-to-make">filed federal unfair labor practice charges</a> at the National Labor Relations Board (NLRB) against&nbsp;Stellantis for alleged violation of the&nbsp;<a href="https://www.benzinga.com/news/23/11/35530931/stellantis-weathered-uaw-strikes-better-than-gm-and-ford-with-less-financial-toll-cfo" target="_blank" rel="noreferrer noopener">labor contract entered into last year</a>.
Earlier this month, President of U.S. Stellantis National Dealer Council (NDC)&nbsp;Kevin Farrish also <a href="https://www.benzinga.com/news/24/09/40827607/stellantis-fires-back-at-us-dealer-councils-allegation-of-short-term-decision-making-carmaker-says-p">wrote to company CEO</a> Carlos Tavares, accusing him of "short-term decision-making" and urged that the CEO spend more to clear older inventory. Tavares' decisions, the NDC President said, ended up shrinking the company's market share and hurting its many brands. 
Stellantis, however, said that it takes "absolute exception" to the letter, and termed it a "public personal attack."
For the first half of 2024, Stellantis reported a 48% fall in net profit to €5.6 billion ($6.22 billion) and a 14% fall in net revenue to €85 billion, owing to a&nbsp;<a href="https://www.benzinga.com/markets/24/06/39477084/stellantis-threatens-to-exit-uk-over-unsustainable-ev-sales-targets-if-this-market-becomes-hostile-f" target="_blank" rel="noreferrer noopener">dip in market share</a>&nbsp;in North America.
&#8220;It is an understatement to say that H1 2024 results were disappointing and humbling,&#8221;&nbsp;<a href="https://www.benzinga.com/news/earnings/24/07/39959183/stellantis-ceo-earnings-fell-short-of-expectations-expect-20-new-vehicles-this-year" target="_blank" rel="noreferrer noopener">Tavares said</a>&nbsp;at the company&#8217;s earnings call last month.
"The Company's performance in the first half of 2024 fell short of our expectations, reflecting both a challenging industry context as well as our own operational issues… We have significant work to do, especially in North America, to maximize our long-term potential,&#8221; he said while also reiterating his personal involvement with the teams in North America to fix the issue.
In the second quarter alone, Stellantis saw its sales in the U.S. fall 21% to 344,993 vehicles. 
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 More:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40979752/elon-musk-says-buses-wont-be-needed-once-tesla-robotaxis-start-operating-will-take-people-point-" target="_blank" rel="noreferrer noopener">Elon Musk Says Buses Won't Be Needed Once Tesla Robotaxis Start Operating: ‘Will Take People Point To Point For A Similar Cost'</a></li>
</ul>
Photo courtesy: Shutterstock

STLA

Stellantis Denies UAW Allegations Of Failing To Keep Promises Made To Workers

Elon Musk, who has been very vocal about governments&#8217;<a href="https://www.benzinga.com/government/24/09/40971374/elon-musk-responds-to-venture-capitalists-claim-on-government-subsidies-for-spacex-tesla-do-some-res"> unfair treatment meted out to his business ventures, </a>vented out his frustration yet again on Monday.
What Happened: The trigger for another outburst by Musk came in the form of a post by a Tesla influencer from Canada, who noted that federal and provincial governments have reiterated support for Canadian satellite telecom company Telesat&#8217;s Lightspeed satellite network project.
The project was touted as a source of 967 additional jobs in Canada and Quebec and involved an investment of C$2.62 billion. This would translate to a public subsidy of just under C$3 million per job for a project that will cost a total of more than C$6 billion and aims to connect all Canadians to high-speed Internet by 2030,&#8221; the social-media user said on X. He contrasted that with Musk&#8217;s Starlink, which did not receive any subsidies but already had over 400,000 satisfied users in Canada.
Starlink is owned by SpaceX and it provides low-latency broadband internet service.
The Tesla influencer said Starlink could &#8220;provide all Canadians in rural and remote locations with reliable high-speed internet &#x2A;today&#x2A; and for a fraction of that cost.&#8221;
Musk jumped in and said competitors receive vastly more subsidies than SpaceX or Tesla. &#8220;The success of SpaceX/Tesla is in spite of competitor subsidies!&#8221; he said.
He also referred to the U.S. government&#8217;s giveaway for a North American Supercharger network to compete against Tesla, adding that it still failed. The billionaire could have referred to Charge Enterprises, which partnered with Stellantis and General Motors, filing for Chapter 11 bankruptcy earlier this year.
Despite massive subsidies to Starlink competitors for American rural broadband they failed, Musk said. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Competitors receive vastly more subsidies than SpaceX or Tesla. The success of SpaceX/Tesla is in spite of competitor subsidies! Look at how much was given away for a North American Supercharger network to compete against Tesla and it still failed. Or the massive subsidies… <a href="https://t.co/apLWr3pKGG">https://t.co/apLWr3pKGG</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1838238701886849183?ref_src=twsrc%5Etfw">September 23, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/money/how-to-invest-in-spacex">How To Invest In SpaceX</a>
Why It&#8217;s Important: The Tesla CEO clarified the same in an exchange with Sun Microsystems co-founder and venture capitalist Vinod Khosla over the weekend.
When the latter questioned how much government money SpaceX gets and whether Tesla could have survived without EV subsidies, Musk retorted sharply. &#8220;Do some research before you display your utter ignorance,&#8221; he said, adding that SpaceX gets no subsidies and received half as much as Boeing for astronaut transport, but did 100% of the work. He also clarified that government subsidies make up only a minor portion of his electric-vehicle manufacturing company Tesla's revenue.
Musk&#8217;s SpaceX is already on a warpath with the Federal Aviation Administration (FAA) over regulatory delays and safety concerns, particularly regarding its Starship development program. The regulator has maintained that its accent is on safety and environmental protection but Musk has been rooting for a more agile and forward-thinking regulatory approach that aligns with SpaceX's fast-paced innovation agenda.
Recently Rep.&nbsp;Kevin Kiley&nbsp;(R-Calif.) applauded Musk's SpaceX for its&nbsp;Polaris Dawn&nbsp;mission in a speech and also <a href="https://www.benzinga.com/government/24/09/40972034/elon-musk-responds-as-california-congressman-slams-bureaucratic-roadblocks-for-spacex-program-agenci">voiced concerns regarding the regulatory clampdown on the company. </a>&#8220;We continue to be stuck in the reality where it takes longer to do the government paperwork to license a rocket launch than it does to design and build the actual hardware,&#8221; Kiley said.
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</ul>
Image via Shutterstock

Elon Musk Cries Foul Over Governments' Preferential Treatment For Rival Companies: 'Success Of SpaceX/Tesla Is In Spite Of Competitor Subsidies'

While debate around the U.S. government's Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holdings continues and El Salvador's pioneering embrace hogs headlines, a small Himalayan nation nestled between India and China was quietly adding the top cryptocurrency to its reserves.
What happened: According to a report by Firstpost America, the landlocked South Asian held&nbsp; about 13,011 Bitcoin in its coffers, worth $821 million as of this writing. This made it the fourth-largest government holder of the apex digital currency behind the U.S., China, and UK, and surprisingly, above El Salvador.&nbsp;
With an estimated GDP of $3.11 billion as per <a href="https://www.statista.com/statistics/527240/gross-domestic-product-gdp-in-bhutan/">Statista</a>, Bitcoin holdings represented nearly one-third of Bhutan's economy.
However, <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36787705/silk-road-loot-goes-public-us-government-to-sell-off-132-5m-in-seized-bitcoin">unlike other nations</a>, Bhutan's holdings didn't come from law enforcement seizures, but from indigenously developed mining capability, backed by its abundant hydropower resources.
The report added that Bhutan's state-owned investment firm, Druk Holdings, maintains custody of all Bitcoins.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40994028/elon-musk-dons-his-maga-hat-to-meet-pro-bitcoin-president-javier-milei-duo-discuss-argenti">Elon Musk Dons His MAGA Hat To Meet Pro-Bitcoin President Javier Milei: Duo Discuss Argentina&#8217;s Journey To Normalcy</a>
These findings were amplified on X by none other than Michael Saylor, a well-known proponent of Bitcoin who, via his company MicroStrategy, <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40899629/microstrategy-doubles-down-on-bitcoin-can-the-stock-sustain-its-rally">has spearheaded the corporate adoption</a> of the world's largest cryptocurrency.
"Bhutan is leading the way in global Bitcoin adoption," Saylor wrote.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I can't believe Bhutan skipped ahead of El Salvador. We need to STEP IT UP!!! <a href="https://t.co/1smaVzvjh5">https://t.co/1smaVzvjh5</a>
&mdash; Max Keiser (@maxkeiser) <a href="https://twitter.com/maxkeiser/status/1838283844283138256?ref_src=twsrc%5Etfw">September 23, 2024</a></blockquote>
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Furthermore, Max Keiser, senior Bitcoin adviser to El Salvador President Nayib Bukele, expressed astonishment at Bhutan surpassing the Central American nation in Bitcoin holdings, saying, &#8220;We need to STEP IT UP!!!&#8221;
Why It Matters: Recent months have seen a surge in discussions on the topic of holding Bitcoin in national reserves, with former President Donald Trump <a href="https://www.benzinga.com/top-stories/24/08/40372436/trump-criticizes-us-bitcoin-sales-calls-for-national-cryptocurrency-stockpile-if-we-dont-do-it-china">pitching in favor</a> of the idea during his campaign.
The narrative was strengthened when pro-cryptocurrency Senator Cynthia Lummis (R-Wyo.) proposed a bill to <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40087880/cynthia-lummis-unveils-strategic-bitcoin-reserve-legislation-this-is-our-louisiana-purchas">establish a U.S. strategic Bitcoin reserve</a>.
Price Action: At the time of writing, Bitcoin was exchanging hands at $63,122.89, down 1.06% 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;
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Photo courtesy: Flickr

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

Cryptocurrency

$BTC

Max Keiser Says El Salvador 'Needs To Step It Up' As Bhutan's Bitcoin Adoption Astonishes Crypto Market

Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) <a href="https://www.benzinga.com/news/24/09/40968128/qualcomm-reportedly-eyes-potential-takeover-of-intel-amid-60-stock-decline-but-antitrust-concerns-lo">is reportedly considering a buyout</a> of Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), a move that could significantly diversify Qualcomm&#8217;s product offering. However, analysts are warning of potential challenges that could hinder the success of this acquisition.
What Happened: Qualcomm&#8217;s interest in acquiring Intel has been met with skepticism from analysts, <a href="https://www.businessinsider.com/qualcomm-considers-intel-buyout-analysts-see-major-hurdles-2024-9">reported</a> Business Insider. The potential deal, which could help Qualcomm expand, is seen as a risky move due to Intel&#8217;s struggling semiconductor manufacturing unit.
Intel&#8217;s shares have plummeted approximately 77% from their 52-week high, making the company an attractive target not just for Qualcomm but also for Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>), which reportedly proposed to make an equity-like investment <a href="https://www.benzinga.com/markets/equities/24/09/40973740/intel-has-a-new-knight-in-shining-armor-after-qualcomm-apollo-global-management-reportedly-propo">of up to $5 billion in the company</a>.
However, Stacy Rasgon, a prominent chip analyst from Bernstein, expressed skepticism about the potential deal. &#8220;We would prefer that Qualcomm not pursue this as it seems very risky to us given uncertain returns,&#8221; Rasgon and his team wrote.
Qualcomm aims to diversify its revenue streams by entering the PC and data center markets, which Intel dominates. However, Intel&#8217;s semiconductor factories, or fabs, pose significant challenges. Rasgon noted that Intel has struggled to manage its fabs, allowing competitors like TSMC to gain an edge.
Rasgon also highlighted the political importance of Intel&#8217;s U.S.-based fabs in Arizona, Oregon, and New Mexico. He speculated that Qualcomm might sell these fabs if the acquisition goes through, but questioned whether Intel is desperate enough to consider such a move.
&#8220;Is Intel desperate enough to seriously consider something like this? We&#8217;re not so sure,&#8221; Rasgon and his team concluded.
Why It Matters: The potential acquisition of Intel by Qualcomm could face significant hurdles, according to analysts. The deal could reportedly <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40981806/qualcomms-potential-intel-buyout-could-face-antitrust-hurdles-analysts-reveal-intri">encounter rigorous antitrust scrutiny</a> globally, given that it would merge two major chip firms. This could create a giant with significant market shares in smartphones, PCs, and servers.
Benchmark analyst Cody Acree said the <a href="https://www.benzinga.com/m-a/24/09/40983591/qualcomm-takeover-of-intel-is-logically-unlikely-in-face-of-regulatory-challenges-analyst-says">acquisition is &#8220;logically unlikely.</a>&#8221; According to Acree, Qualcomm would need to offer a compelling 40% to 50% premium over the current trading price of around $22 for shareholders to take the deal seriously. However, the regulatory scrutiny surrounding the transaction may be too difficult to overcome.
Meanwhile, Intel has been facing its own challenges, with CEO Pat Gelsinger presenting a <a href="https://www.benzinga.com/markets/equities/24/09/40673694/intel-ceo-pat-gelsinger-to-present-board-with-major-asset-sale-and-cost-cutting-plan-including-h">comprehensive plan to the board</a> in September. The plan focuses on asset sales and cost reductions, including halting a $32 billion project in Germany. 
If the Qualcomm-Intel deal goes through, it could result in one of the largest M&amp;A deals ever, surpassing Microsoft Corporation&#8217;s <a href="https://www.benzinga.com/general/gaming/23/10/35240972/microsofts-gaming-powerhouse-grows-activision-blizzard-bought-for-69-billion" target="_blank" rel="noreferrer noopener">$69 billion acquisition</a> of Activision Blizzard.
Price Action: Intel&#8217;s shares closed 3.3% higher on Monday at $22.56, while Qualcomm&#8217;s shares closed 1.75% lower at $165.96, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Image via Shutterstock

INTC

QCOM

Intel, Which Cratered Around 77% From Its 52-Week Peak, Finds A New Knight In Shining Armor As Qualcomm And Apollo Propose Buyout Deal, But This Analyst Thinks It Doesn't Make Sense: 'It Seems Very Risky To Us Given Uncertain Returns'

In the latest development, Taiwan has strongly denied China&#8217;s accusations of Taiwanese-backed cyberattacks, calling them baseless and part of a disinformation campaign.
What Happened: Taiwan&#8217;s government officials have dismissed China&#8217;s accusations of Taiwanese hacking as false on Tuesday, Reuters reported on Tuesday. Beijing had claimed a Taiwan military-backed group named &#8220;Anonymous64&#8221; was responsible for cyberattacks on Chinese targets.
China&#8217;s national security ministry made these allegations on Monday, urging citizens to report &#8220;anti-propaganda sabotage&#8221; and even published photos of three Taiwanese individuals they claimed were involved. Taiwan&#8217;s Defence Minister Wellington Koo responded by asserting that China is the primary source of global cyberattacks, targeting Taiwan and other democracies.
&#8220;China is the first country when it comes to daily cyber attacks, doing it against Taiwan and countries with similar democratic ideals. They are the real originators,&#8221; Koo stated. 
He further emphasized that China&#8217;s accusations are baseless and will not deter Taiwan&#8217;s military from its duties.
Premier Cho Jung-tai also addressed the issue, accusing China of spreading disinformation to undermine Taiwan. 
&#8220;We must respond forcefully to fake news accusations against us,&#8221; Cho said. Taiwan continues to reject China&#8217;s sovereignty claims, maintaining that only its people can determine the island&#8217;s future.
See Also: <a href="https://www.benzinga.com/news/24/09/40980997/china-tightens-export-rules-on-nuclear-biotech-and-missile-technologies-to-bolster-national-security?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">China Tightens Export Rules On Nuclear, Biotech And Missile Technologies To Bolster National Security Amid Global Tensions</a>
Why It Matters: The allegations from China come amid escalating tensions between the two nations. On Monday, Beijing&#8217;s top intelligence agency accused a<a href="https://www.benzinga.com/news/24/09/40978209/china-accuses-taiwan-backed-hacker-group-of-targeting-beijing-amid-deteriorating-cross-strait-relati"> group of Taiwanese hackers</a>, allegedly backed by Taipei&#8217;s defense ministry, of targeting websites in mainland China, Hong Kong, and Macau. The group, known as "Anonymous64," is described as a "cyber army" supported by Taiwan's Information, Communications and Electronic Force Command (ICEFCOM). These accusations were made as cross-strait relations continued to deteriorate, especially after Lai Ching-te assumed leadership in Taiwan in May. Lai is a member of the Democratic Progressive Party (DPP), which leans towards independence, a stance that Beijing strongly opposes.
Additionally, the U.S. and Taiwan have been strengthening their <a href="https://www.benzinga.com/news/24/09/40957200/amid-china-threat-us-and-taiwan-team-up-to-boost-drone-industry-cooperation-to-de-risk-supply-chains">cooperation to counteract</a> Chinese influence. In September, a delegation of U.S. drone and anti-drone companies visited Taipei to discuss creating supply chains independent of China. This collaboration aims to mitigate risks associated with Chinese products that have dual civilian and military uses. Taiwan&#8217;s Defence Minister Wellington Koo stated that this visit is an opportunity for Taiwan to integrate into U.S. supply chains and engage in co-production, helping Taiwan overcome export challenges due to its international status and pressure from China.
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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/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Taiwan Claps Back After China Blames Taipei Backed Hackers For Cyberattacks: 'They Are The Real Originators'

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Monday.
U.S. stocks settled higher on Monday, with the S&amp;P 500 jumping to a new closing high.
All three major indices recorded weekly gains, with the S&amp;P 500 gaining around 1.4% and adding more than 19% in 2024. The Dow gained around 1.6% last week, while the tech-heavy Nasdaq jumped around 1.5% during the week.
On the economic data front, the S&amp;P Global manufacturing PMI declined to 47 in September from 47.9 in the prior month, versus market estimates of 48.5. The S&amp;P Global flash composite PMI slipped to 54.4 in September compared to 54.6 in August and versus market estimates of 54.3.
Most sectors on the S&amp;P 500 closed on a positive note, with energy, consumer discretionary, and real estate stocks recording the biggest gains on Monday. However, healthcare and communication services stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 61 points to 42,124.65 on Monday. The S&amp;P 500 rose 0.28% to 5,718.57, while the Nasdaq Composite gained 0.14% at 17,974.27 during Monday's session.
Investors are awaiting earnings results from AAR Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIR#NYSE">AIR</a>) and Red Cat Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 64.4, the index remained in the &#8220;Greed&#8221; zone on Monday, versus a prior reading of 63.9.
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.
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Earnings

Long Ideas

Pre-Market Outlook

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RCAT

S&P Settles At Fresh Record High: Investor Sentiment Improves, But Fear Index Remains In 'Greed' Zone

South Korea has issued a stern warning of military action in response to Kim Jong Un&#8216;s North Korea recently launching trash-filled balloons.
What Happened: Incheon International Airport, one of Asia&#8217;s busiest, faced temporary shutdowns after a balloon was spotted nearby. Operations paused for 70 minutes before the balloon landed in the ocean. Shortly after resuming, debris was found, causing another brief halt, South China Morning Post <a href="https://scmp.com/week-asia/politics/article/3279661/south-korea-vows-military-response-norths-balloons-stoking-escalation-fears?module=top_story&amp;pgtype=homepage">reported</a> on Tuesday.
North Korean balloons have disrupted operations at Incheon and Gimpo airports five times in June and July, impacting 133 flights and 18,000 passengers, according to Seoul aviation authorities.
Since late May, North Korea has launched around 5,500 trash-filled balloons on 22 occasions, retaliating against anti-Pyongyang leaflets sent by South Korean defectors and activists. This month alone, 11 launches occurred, including about 120 balloons from Sunday evening to Monday morning.
South Korea&#8217;s Joint Chiefs of Staff condemned the North&#8217;s actions, stating that &#8220;stern military measures&#8221; would be taken if public safety is threatened. In response, South Korea resumed propaganda broadcasts along the border, which North Korea countered with its own broadcasts.
See Also: <a href="https://www.benzinga.com/news/24/09/40973164/nba-star-shaquille-oneal-threw-tim-walz-out-from-his-big-chicken-restaurant-and-said-dont-come-back?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">NBA Star Shaquille O&#8217;Neal Threw Tim Walz Out From His Big Chicken Restaurant And Said, &#8216;Don&#8217;t Come Back&#8217;</a>
Lee Il-woo from the Korea Defence Network suggested that South Korea could use small-caliber machine guns on helicopters to shoot down the balloons. Meanwhile, Shin Won-sik, South Korea&#8217;s top security official, warned that North Korea might escalate tensions further with a nuclear test.
Why It Matters: The balloon incidents have been escalating <a href="https://www.benzinga.com/news/24/05/39058090/south-korea-accuses-kim-jong-uns-north-korea-of-sending-balloons-filled-with-trash-and-excrement">since late May,</a> when South Korea accused North Korea of sending balloons filled with trash and excrement over the fortified border. The South Korean military had to deploy its explosives ordnance unit and chemical and biological warfare response team to inspect and collect the objects, urging residents to avoid and report any sightings.
In early June, North Korean defectors in Seoul retaliated by <a href="https://www.benzinga.com/news/24/06/39206733/after-kim-jong-un-pauses-trash-filled-balloons-north-korean-defectors-float-k-pop-balloons-over-bord">launching large balloons</a> filled with K-pop and South Korean cultural content across the border. This act was justified as a response to the trash-filled balloons sent by North Korea, which they considered an insult to the South Korean people.
Most recently, in late July, North Korea launched nearly <a href="https://www.benzinga.com/news/24/07/39950625/kim-jong-uns-north-korea-sent-nearly-500-trash-balloons-to-south-korea-in-last-24-hours-disrupting-f">500 trash-filled balloons</a> into South Korean airspace within a 24-hour period, causing flight disruptions and even a rooftop fire. This ongoing propaganda campaign by North Korea against defectors and activists in South Korea has led to multiple disruptions at Seoul's Gimpo and Incheon airports.
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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/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

South Korea Vows 'Stern Military Action' After Trash Balloons From Kim Jong Un's North Korea Disrupt Country's Busiest Airport

Takeda ((<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;,%20url=https%3A%2F%2Fwww.takeda.com%2Finvestors%2F&amp;,%20esheet=54124287&amp;,%20newsitemid=20240918509211&amp;,%20lan=en-US&amp;,%20anchor=TSE%3A4502%2FNYSE%3ATAK&amp;,%20index=1&amp;,%20NYSE:%3Ca%20class=">TAK</a>) today announced that it has received approval from the Japanese Ministry of Health, Labour and Welfare to manufacture and market FRUZAQLA Capsules 1mg/5mg (generic name: fruquintinib), a selective oral inhibitor of vascular endothelial growth factor receptor (VEGFR) -1, -2 and -3, for the treatment of advanced or recurrent colorectal cancer (CRC) that is neither curable nor resectable and that has progressed after chemotherapy.
The approval is based primarily on the results of the FRESCO-2 trial, a global Phase 3 clinical trial conducted in the United States, Europe, Japan and Australia. The trial compared FRUZAQLA plus best supportive care (BSC) with placebo plus BSC in patients with previously treated metastatic colorectal cancer (mCRC). The FRESCO-2 trial met all primary and key secondary efficacy endpoints and demonstrated consistent benefits in patients who received FRUZAQLA, regardless of the types of therapy the patients had previously received. FRUZAQLA demonstrated a manageable safety profile in the FRESCO-2 trial, with the incidence of adverse events leading to discontinuation being 21% in the placebo plus BSC arm compared to 20% in the FRUZAQLA plus BSC arm.1 The data from the FRESCO-2 trial were <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.thelancet.com%2Fjournals%2Flancet%2Farticle%2FPIIS0140-6736%252823%252900772-9%2Fabstract&amp;esheet=54124287&amp;newsitemid=20240918509211&amp;lan=en-US&amp;anchor=published&amp;index=2&amp;md5=4ae4f0cb6c84175356b3a0226e262316">published</a> in The Lancet in June 2023.
Dr. Takayuki Yoshino, deputy director of hospital, head, Division for the Promotion of Drug and Diagnostic Development, and chief, Department of Gastrointestinal Oncology at the National Cancer Center Hospital East, who served on the FRESCO-2 study Steering Committee, said, "Although the mortality rate of colorectal cancer has been going down in recent years due to early screening and advances in treatment, the 5-year survival rate for metastatic colorectal cancer remains low and new treatment options are much in need. The approval of FRUZAQLA in Japan offers new hope for patients and families of patients with metastatic colorectal cancer, as well as for healthcare personnel involved in colorectal cancer treatment. I feel that it is of great clinical significance."
"For more than a decade, Takeda has been a leader in advancing the treatment of metastatic colorectal cancer in Japan. With this approval of FRUZAQLA, we are able to further support patients living with this debilitating disease," said Teresa Bitetti, president of the Global Oncology Business Unit at Takeda. "FRUZAQLA is now approved in the U.S., European Union, Japan and a number of other countries around the world, and we remain committed to bringing this treatment to additional patients with metastatic colorectal cancer around the world who urgently need new therapeutic options."

Government

Regulations

Takeda's FRUZAQLA Capsules Approved in Japan for Advanced Colorectal Cancer Treatment

Oportun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPRT#NASDAQ">OPRT</a>), a mission-driven financial services company, today announced the closing of an amendment and extension to its long-term warehouse facility. Features of this facility include: &nbsp;
<ul>
<li>$306 million total commitment</li>
<li>Goldman Sachs as senior lender – and Jefferies, as mezzanine lender – both existing, longstanding lenders to Oportun</li>
<li>A new two-year revolving period</li>
<li>Collateralized by Oportun's unsecured and secured personal loan originations &nbsp;</li>
</ul>
"This warehouse facility extension expands on Oportun's longstanding lending relationships", said Jonathan Coblentz, Chief Financial Officer of Oportun. "With the support of our lenders at Goldman Sachs and Jefferies, this committed financing will help drive Oportun's responsible growth in the years ahead."
Oportun maintains a diverse set of capital sources including committed warehouse facilities, asset-backed securitizations, corporate-level debt financing, and whole loan sales.

OPRT

Reported Earlier, Oportun Secures $306M Financing Extension With Goldman Sachs and Jefferies

With U.S. stock futures trading mixed this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects AutoZone, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) to report quarterly earnings at $53.53 per share on revenue of $6.22 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. AutoZone shares fell 0.7% to $3,027 in after-hours trading.</li>
<li>AAR Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIR#NYSE">AIR</a>) posted better-than-expected results for its first quarter on Monday. The company reported quarterly earnings of 85 cents which beat the analyst consensus estimate of 82 cents per share. AAR shares gained 3.4% to $71.44 in the after-hours trading session.</li>
<li>Analysts expect THOR Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THO#NYSE">THO</a>) to post quarterly earnings at $1.30 per share on revenue of $2.47 million before the opening bell. THOR Industries shares gained 1.6% to $104.83 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) announced a $2 billion private placement of senior convertible notes. Snowflake shares fell 3.1% to $109.71 in the after-hours trading session.</li>
<li>Analysts are expecting KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>) to post quarterly earnings at $2.06 per share on revenue of $1.73 billion. The company will release earnings after the closing bell. KB Home shares gained 1.1% to close at $88.20 on Monday.</li>
</ul>
Check This Out:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40980672/top-3-financials-stocks-that-may-plunge-in-september">Top 3 Financial Stocks That May Plunge In September</a></li>
</ul>
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