Latest news for SEC CARBON (OTC:SECNF) Stock

SEC CARBON Ltd engages in the manufacture and sale of carbon products. It offers SK-B graphitized cathode blocks for aluminum smelting; graphite electrodes that are used in electric arc furnaces for steelmaking; and carbon and graphite specialties and materials for use in the semiconductor, aerospace, chemical, electrochemistry, machine, and metallurgy industries. The company also provides the fine powder that is used in various industries, such as paint, sliding materials, metallurgic uses, and batteries.

SEC CARBON Ltd

Amid growing concerns from the U.S. about the potential diversion of advanced chip technology to China, the UAE has assured its commitment to safeguarding these technologies. The assurance comes as the Biden administration considers imposing restrictions on chip sales from Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) to the Middle East.
What Happened: Peng Xiao, CEO of UAE&#8217;s prominent AI firm G42, reiterated the country&#8217;s dedication to protecting sensitive technology. In an <a href="https://www.cnbc.com/2024/10/16/uae-has-shown-it-can-guarantee-the-safety-and-the-security-of-chips-g42-ceo-says.html">interview </a>with CNBC, Xiao emphasized that the UAE is a reliable partner for the U.S. in securing chip technology. His comments follow the Biden administration&#8217;s contemplation of restricting chip sales to the Middle East.
"I cannot read the mind of the U.S. policymakers, but in many ways, I understand their position," Xiao said.
"At the same time from our side, we've shown from the UAE side how transparent we are and how we can guarantee the safety and the security of this technology," he added.
Xiao expressed an understanding of U.S. policymakers&#8217; concerns while highlighting the UAE&#8217;s transparency and ability to ensure chip security. He conveyed optimism for enhanced collaboration and technology sharing between the U.S. and UAE. Despite previous U.S. warnings about G42&#8217;s connections to China, the company has taken measures to reassure American partners, including divesting stakes in Chinese firms. In April, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) entered a $1.5 billion agreement with G42, showcasing UAE&#8217;s AI ambitions.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41303762/trumps-election-odds-on-polymarket-gary-genslers-doubts-about-cryptocurrencys-future-shiba?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Election Odds On Polymarket, Gary Gensler&#8217;s Doubts About Cryptocurrency&#8217;s Future, Shiba Inu Lead Developer&#8217;s Cryptic Post Sparks Intrigue And More: This Week In Crypto</a>
The UAE and the U.S. have pledged to strengthen AI cooperation, with a joint statement affirming their commitment to fostering collaboration in AI and related technologies.
Why It Matters: The U.S. has been cautious about the export of AI chips to the Middle East due to national security concerns. In May, the <a href="https://www.benzinga.com/general/politics/24/05/39098684/us-taps-brakes-on-ai-chip-sales-to-middle-east-over-national-security-concerns">U.S. government temporarily halted </a>the issuance of licenses for AI chip exports to the region, affecting companies like Nvidia and AMD. This move was part of a broader national security review of AI development in the area.
In June, the UAE acknowledged the U.S.&#8217;s concerns about the <a href="https://www.benzinga.com/news/24/06/39274269/uae-supports-us-restrictions-on-semiconductor-exports-to-china-report">potential diversion of advanced chip</a> technologies to China. The UAE&#8217;s Minister for Artificial Intelligence and Digital Economy, Omar Al Olama, recognized the geopolitical challenges due to the UAE&#8217;s strategic location.
Recently, the Biden administration was reported to be considering restricting the export of advanced AI chips to certain countries, including <a href="https://www.benzinga.com/news/24/10/41323155/nvidia-amd-face-chip-export-curbs-as-biden-administration-considers-restrictions-on-middle-east-coun">those in the Persian Gulf.</a> This proposal aims to limit the AI capabilities of specific nations, citing national security concerns.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41306653/anthony-scaramucci-praises-trump-for-shifting-the-crypto-debate-hes-now-forced-the-democra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Praises Trump For Shifting The Crypto Debate: &#8216;He&#8217;s Now Forced The Democrats To Come Back Into The Middle&#8217;</a></li>
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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>

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MSFT

NVDA

Amid Fear Of China's Access To Nvidia, AMD Chips Through Middle East, This CEO Assures UAE Reliable Partner For US: 'We Can Guarantee The Safety And Security Of This Technology'

Consolidated shipments for the three months ending September 30, 2024, were an estimated 1,148 thousand units, representing a&nbsp;20%&nbsp;decline versus the same period in 2023. The shipment decline was more severe than the underlying sales decline in the period of approximately&nbsp;15%, due to the temporary impacts of transitions in our product portfolio and dealer inventory reduction initiatives.

STLA

Stellantis Q3 2024 Shipments Down 20% YoY Due To Dealer Inventory Cuts And Product Portfolio Transition

Earnings

ASML

ASML Holding Reported Q3 Revenue Of €7.5B, Up From €6.67B YoY, EPS Of €5.28 Vs €4.81 YoY

Loop Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOOP#NASDAQ">LOOP</a>) reported quarterly losses of $(0.10) per share which met the analyst consensus estimate. This is unchanged from the same period last year. The company reported quarterly sales of $23.000 thousand which missed the analyst consensus estimate of $49.000 thousand by 53.06 percent. This is a 57.41 percent decrease over sales of $54.000 thousand the same period last year.

Earnings Misses

LOOP

Loop Industries Q2 2025 GAAP EPS $(0.10), Inline, Sales $23.000K Miss $49.000K Estimate

With U.S. stock futures trading mixed this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) to report quarterly earnings at $1.58 per share on revenue of $14.41 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Morgan Stanley shares gained 0.2% to $112.49 in after-hours trading.</li>
<li>J.B. Hunt Transport Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) reported better-than-expected third-quarter financial results. The company reported quarterly earnings of $1.49 per share which beat the analyst consensus estimate of $1.47 per share. The company reported quarterly sales of $3.07 billion which beat the analyst consensus estimate of $3.02 billion. J.B. Hunt shares climbed 7.1% to $187.00 in the after-hours trading session.</li>
<li>Analysts are expecting Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) to post quarterly earnings at 77 cents per share on revenue of $25.29 billion. The company will release earnings before the markets open. Abbott shares gained 0.1% to $116.10 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Interactive Brokers Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) reported weaker-than-expected earnings for its third quarter on Tuesday. Interactive Brokers shares fell 4% to $146.85 in the after-hours trading session.</li>
<li>Analysts expect U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) to report quarterly earnings at 99 cents per share on revenue of $6.9 billion before the opening bell. U.S. Bancorp shares rose 0.6% to $47.29 in after-hours trading.</li>
</ul>
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IBKR

JBHT

Morgan Stanley, Abbott Laboratories And 3 Stocks To Watch Heading Into Wednesday

Frank Downing, the director of research for next-generation internet at Ark Investment Management, led by Cathie Wood, has touted ChatGPT-parent OpenAI as the leader of the AI revolution.
What Happened: In a blog post titled &#8220;OpenAI Investment Thesis&#8221; on Tuesday, Downing highlighted OpenAI&#8217;s innovation, rapid iteration on foundational models, and cost efficiency.
&#8220;We believe that OpenAI, with its advanced large language models (LLMs), is uniquely positioned to be a leader in the AI revolution,&#8221; Downing wrote.
He pointed out the <a href="https://www.benzinga.com/top-stories/24/09/40842891/openai-unveils-o1-model-a-step-closer-to-human-like-ai-but-not-without-flaws">company&#8217;s latest model, &#8220;o1,&#8221;</a> which is designed to reason about problems before providing answers, as a significant breakthrough.
OpenAI&#8217;s success in image and video generation, as well as the rapid adoption of its products, were also noted.
Downing mentioned that within the first two months of its initial release in November 2022, <a href="https://www.benzinga.com/news/23/02/30908169/chatgpts-100-millionth-user-means-the-age-of-ai-is-here">ChatGPT gained 100 million</a> users, marking the fastest application uptake of all time.
See Also: <a href="https://www.benzinga.com/news/24/10/41266487/cant-believe-it-popular-youtuber-shares-how-apple-watch-series-10-detected-atrial-fibrillation-and-s?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Can&#8217;t Believe It:&#8217; Popular YouTuber Shares How Apple Watch Series 10 Detected Atrial Fibrillation And Saved His Grandmother</a>
While OpenAI leads, competitors like Anthropic's Claude and Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Llama models pose challenges, as does the democratization of LLM access through open-sourced models.
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, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) are also rolling out AI agents for consumer and enterprise use cases.
&#8220;Given those threats, OpenAI must retain top talent and demonstrate operational excellence that continues to shine in the face of headline leadership departures,&#8221; Downing stated.
As of June 2024, OpenAI&#8217;s annualized revenue had reportedly tripled year-over-year to $3.4 billion.
&#8220;Were that trend to continue, the company's current pre-money equity value at $150 billion suggests that its forward enterprise value-to-sales multiple could land between those of Nvidia and Microsoft,&#8221; he stated.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/16020755/Screenshot-2024-10-16-at-11.37.48%E2%80%AFAM-1024x664.png" alt="" class="wp-image-597444" /><figcaption class="wp-element-caption">Source: ARK Invest</figcaption></figure>
Why It Matters: Earlier this month, Tesla and SpaceX CEO Elon Musk accused OpenAI of unfair funding practices, after a report surfaced that the Sam Altman-led startup was asking investors for an <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">exclusive funding arrangement</a>.
However, Wood replied to the report saying that it is not true in their case at least.
Musk&#8217;s statement came after OpenAI closed its latest funding round, securing $6.6 billion, valuing the company at a jaw-dropping $157 billion.
This funding round saw <a href="https://www.benzinga.com/startups/24/10/41312615/investors-pour-billions-into-openai-whats-driving-this-unprecedented-surge-in-funding">big-name backers including</a> Thrive Capital, Microsoft, ARK Invest and Nvidia Corporation.
Previously, Nvidia CEO Jensen Huang also credited OpenAI&#8217;s ChatGPT for the <a href="https://www.benzinga.com/news/24/10/41309060/nvidias-jensen-huang-says-chatgpt-led-to-awakening-of-ai-praises-sam-altmans-openai-as-one-of-most-c">current wave of AI development</a>. He also called OpenAI one of the most consequential companies of today&#8217;s time.
Check out more of Benzinga's Consumer Tech coverage by <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/24/10/41323155/nvidia-amd-face-chip-export-curbs-as-biden-administration-considers-restrictions-on-middle-east-coun?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia, AMD Face Chip Export Curbs, As Biden Administration Considers Restrictions On Middle-East Countries, Others: Report</a></li>
</ul>
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.

AAPL

GOOG

GOOGL

Cathie Wood's Ark Invest Director Says ChatGPT-Parent Is  'Uniquely Positioned' To Lead AI Revolution But Has Advice For The AI Giant: 'Demonstrate Operational Excellence That Continues To Shine'

This marks the first Missile Defense Agency cooperative development program with&nbsp;Japan&nbsp;to reach this milestone.
The SM-3 Block IIA production milestone cleared the way for a&nbsp;$1.9 billion&nbsp;award from the U.S. Missile Defense Agency in&nbsp;July 2024&nbsp;to produce rounds for both the U.S. government and Japan Ministry of Defense.

Reported Earlier, RTX's Raytheon SM-3 Block IIA Enters Full-Rate Production, Validating Design And Securing $1.9B Deal

Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google subsidiary YouTube has unveiled a significant update that introduces a range of new features designed to enhance the user experience and foster a stronger connection between creators and their audiences.
What Happened: The update, which is now rolling out across web, mobile, TVs, and YouTube Music, includes highly requested features like fine-tunable playback speed, improved browsing, and enhanced customization options.
One of the standout features in the update is the introduction of a Sleep Timer that allows users to automatically pause videos after a set duration, making it easier to wind down and avoid late-night binge-watching sessions. 
YouTube has also revamped its mini-player to give users more control over their viewing experience, allowing them to resize and move the player within the app. 
See Also: <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">Apple Removes Unofficial YouTube App For Vision Pro From App Store, Developer Disagrees But Says, &#8216;Zero Desire To Spin This Into A Massive Fight&#8217;</a>
For those who enjoy creating and sharing playlists, YouTube has introduced collaborative playlists that make it easier to build playlists with friends and family. Users can now invite others to collaborate using a special link or a QR code and customize their playlists with custom thumbnails and generative AI.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
In addition to these new features, YouTube has also made improvements to its TV app, including a new UI for Shorts that allows users to read comments and browse the shop without interrupting the viewing experience.
The company has also launched immersive channel pages on TV, which automatically play a video when users visit a creator&#8217;s channel to give them a taste of the content before they decide to watch.
<a href="https://blog.youtube/news-and-events/youtube-features-and-updates-2024/#:~:text=Here's%20a%20solution%3A%20starting%20today,a%20certain%20duration%20of%20time.&amp;text=Multitask%20with%20the%20improved%20miniplayer&amp;Viewers%20will%20be%20able%20to,in%20the%20YouTube%20mobile%20app." target="_blank" rel="noreferrer noopener"></a>YouTube&#8217;s product management director, Matthew Darby, emphasized the importance of user feedback in driving the platform&#8217;s development. &#8220;These updates are a direct result of the valuable feedback we&#8217;ve received from our users,&#8221; Darby said.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41328252/apples-iphone-16-powers-record-sales-in-q3-just-behind-samsung-in-global-market-share-battle">Apple&#8217;s iPhone 16 Powers Record Sales In Q3, Just Behind Samsung In Global Market Share Battle</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>

Entertainment

YouTube Rolls Out New Features Including Sleep Timer, Collaborative Playlists, And Enhanced Miniplayer For Better User Experience

The jury awarded&nbsp;$15 million&nbsp;in compensatory damages and answered in the affirmative that punitive damages were justified, meaning the ultimate verdict amount could go higher. J&amp;J subsidiaries Kenvue, Holdco, Pecos River, LLT, and LTL also were defendants in the lawsuit.

Reported Earlier, Johnson & Johnson Ordered To Pay $15M In Connecticut Asbestos Case, Facing Potential For Punitive Damagesjnj

Sen. Elizabeth Warren (D-Mass.) and her Republican challenger John Deaton exchanged blow for blow over the subject of cryptocurrencies in the first debate between the two Senate hopefuls on Tuesday.
What happened: Co-sponsored by the WBZ News and The Boston Globe, the two politicians with diametrically opposing views on the asset class put forward their arguments.
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Warren accused Deaton of receiving the maximum funding from the big cryptocurrency lobby to win the Massachusetts seat.
"There's one candidate on the stage who gets 90% of their funding to keep their campaign going from one industry, the crypto industry," said Warren, who was running for a third term.
The senator claimed that Deaton wants to go to Washington only to fight for his "crypto buddies," unlike her, who "fights for everybody."
Deaton clapped back, saying he had upset cryptocurrency billionaires more than anyone else.&nbsp;
"I exposed all this regulatory capture by former SEC Chair, by the way, appointed by Donald Trump," the senate hopeful stated,<a href="https://www.benzinga.com/money/could-ripple-win-the-sec-lawsuit"> in a reference to</a> Jay Clayton.
The pro-cryptocurrency attorney then accused Warren of double standards, by advocating for a ban on Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) self-custody while supporting <a href="https://www.benzinga.com/content/38879560/breaking-senate-overwhelmingly-votes-to-overturn-the-secs-sab121">big banks' right</a> to custody the asset.
In her defense, Warren stated that she was okay with people buying and trading cryptocurrencies as long as they were subjected to the same laws as other traditional market players and avoided being exploited by terrorists, drug dealers, and human traffickers.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41322645/mark-cuban-defends-kamala-harris-crypto-knowledge-appears-to-take-dig-at-trump-for-selling">Mark Cuban Defends Kamala Harris&#8217; Crypto Knowledge, Appears To Take Dig At Trump For Selling Tokens And Merchandise: &#8216;Unlike Your Guy, She Doesn&#8217;t Pretend&#8217;</a>
Why It Matters: Deaton is <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37217615/crypto-crusader-john-deaton-battles-critic-elizabeth-warren-in-high-stakes-senate-race">well-recognized in the cryptocurrency community for his support</a> of Ripple Labs in the ongoing legal tussle with the SEC, representing several individual XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) holders in the case.&nbsp;&nbsp;
Deaton&#8217;s effort has indeed received financial support from prominent industry figures, including the Winklevoss twins, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39852340/elizabeth-warrens-opponent-gets-a-1m-donation-in-bitcoin-from-winklevoss-twins-spent-the-l">who donated $1 million in Bitcoin</a> to the attorney.&nbsp;
Additionally, Commonwealth Unity Fund, a cryptocurrency-focused super PAC, has <a href="https://www.opensecrets.org/outside-spending/detail/2024?cmte=C00875856&amp;tab=targeted_candidates">spent </a>nearly $1.69 million to bolster Deaton&#8217;s fight against Warren, according to OpenSecrets.
In contrast, Warren has <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39070738/remember-elizabeth-warrens-anti-crypto-campaign-donald-trump-promises-to-keep-elizabeth-wa">come under fire from cryptocurrency enthusiasts over the years</a> because of her critical stance on the industry, accusing it of facilitating illegal activities, including money laundering and terrorism.
Photos courtesy: Gage Skidmore via Flickr and John Deaton Campaign
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

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$XRP

Elizabeth Warren Says Rival John Deaton Wants To Go To Washington To Fight For His 'Crypto Buddies' — Republican Fires Back, Claiming He's Upset Crypto Billionaires More Than Anyone Else

<ul>
<li>Agreement covers FIFA World Cup 2026&trade; and FIFA Women&#39;s World Cup 2027&trade; and was revealed on stage at Lenovo&#39;s annual Tech World innovation event</li>
<li>Lenovo to provide FIFA technology &ndash; from AI (Artificial Intelligence) innovation to devices and data center infrastructure &ndash; to enhance fan experiences and global broadcasts</li>
<li>Lenovo and FIFA to leverage technology and innovation to grow the game globally</li>
</ul>

LNVGY

Reported Earlier, Lenovo Named Official FIFA Technology Partner For FIFA World Cup 2026 And FIFA Women's World Cup 2027

Macro Economic Events

Econ #s

Economics

U.K. Producer Price Index Input (MoM) For September -1.0% Vs. -0.5% Est.; -0.3% (Revised) Prior

U.K. Consumer Price Index (MoM) For September 0.0% Vs. 0.1% Est.; 0.3% Prior

U.K. Consumer Price Index (YoY) For September 1.7% Vs. 1.9% Est.; 2.2% Prior

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has been granted approval by the local government ministry near its <a href="https://www.benzinga.com/news/24/07/39640029/teslas-giga-berlin-expansion-gets-environmental-authority-approval-after-chancellor-scholz-voiced-ai">gigafactory in Berlin</a> to proceed with the first stage of its three-stage plant expansion plan despite protests from locals, Reuters reported on Tuesday.
What Happened: The approval will allow the EV maker to proceed with the construction of infrastructure for storage facilities, a battery cell test laboratory, and logistics areas, the report said. All of the construction will take place on land already owned by the company, the report added. 
The approval comes despite resistance from locals. Locals have been protesting against the company&#8217;s plans to increase vehicle manufacturing capacity to a million units per year at the plant, citing environmental concerns.
In May, several protestors attempted to storm the company&#8217;s factory and even injured several police officers in the ensuing clash. Several protestors were taken into police custody&nbsp;<a href="https://www.benzinga.com/news/24/05/38774207/elon-musk-says-tesla-was-the-only-car-company-attacked-after-16-protesters-were-taken-into-custody-i" target="_blank" rel="noreferrer noopener">over the incident</a>.
In March, an arson attack on the factory caused a power outage and halted production for about a week. Activist organization Vulkan Group claimed the attack and said it was <a href="https://www.benzinga.com/news/24/03/37528386/tesla-senior-exec-fires-back-after-arson-attack-warns-of-green-capitalism-says-ev-giant-creates-most" target="_blank" rel="noreferrer noopener">spurred by environmental concerns.</a>
Tesla did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comment.
Why It Matters: Tesla&#8217;s new car registrations in the European Union fell by about 15% to 152,607 units in 2024 through the end of August, according to data from the  European Automobile Manufacturers' Association (ACEA.)
In August alone, new car registrations fell 43%, compared to the corresponding period last year.
Tesla delivered&nbsp;<a href="https://www.benzinga.com/news/24/10/41141444/tesla-stock-plunges-3-despite-q3-deliveries-exceeding-consensus-and-growing-year-over-year" target="_blank" rel="noreferrer noopener">462,890 vehicles</a>&nbsp;globally in the third quarter, marking an increase of 6.4% from the corresponding period last year, but below whisper numbers, sending the stock on a journey downwards. 
Price Action: Tesla shares closed up 0.3% on Tuesday at $219.57. The stock is down 11.6% year-to-date, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
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/news/24/10/41324450/elon-musk-says-spacexs-next-generation-starlink-satellites-will-be-so-big-that-only-starship-can-lau" target="_blank" rel="noreferrer noopener">Elon Musk Says SpaceX's Next-Generation Starlink Satellites Will Be ‘So Big That Only Starship Can Launch Them:' Will Offer 10X Increase In Bandwidth And Reduced Latency</a></li>
</ul>
Photo courtesy: Tesla

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The Indonesian government has prohibited the sale of Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhone 16 due to the company&#8217;s failure to meet its investment commitments in the country.
What Happened: The Indonesian government has banned the sale of Apple&#8217;s iPhone 16 in the country due to the company&#8217;s inability to fulfill its investment obligations, the South China Morning Post <a href="https://www.scmp.com/week-asia/politics/article/3282523/indonesia-bans-iphone-16-sales-over-apples-failure-hit-investment-target?module=top_story&amp;pgtype=homepage">reported</a> on Wednesday. 
The Minister of Industry, Agus Gumiwang Kartasasmita, stated that Apple has not met its investment commitments and must renew its local content license.
&#8220;Apple&#8217;s iPhone 16 cannot be sold in Indonesia yet because the extension of the TKDN certification is still pending, awaiting further investment realization from Apple,&#8221; Agus said.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41306985/coinbase-ceo-brian-armstrong-wants-to-know-how-elon-musk-gets-so-much-done-wants-an-in-dep?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Coinbase CEO Brian Armstrong Wants To Know How Elon Musk Gets So Much Done — Wants An In-Depth Study Done After SpaceX Starship Booster Success, &#8216;CyberCab&#8217; Unveil</a>
Apple has invested 1.48 trillion rupiah ($95.08 million) in Indonesia, which falls short of its total commitment of 1.71 trillion rupiah ($109.59 million). The company has not yet met its promised investments through four research and development facilities in Indonesia. The shortfall between the investment made and the original commitment is 230 billion rupiah ($14.75 million).
Why It Matters: This move comes as a surprise, considering Apple&#8217;s recent success in the smartphone market. In the third quarter of 2024, Apple&#8217;s <a href="https://www.benzinga.com/markets/equities/24/10/41328252/apples-iphone-16-powers-record-sales-in-q3-just-behind-samsung-in-global-market-share-battle">iPhone 16 powered record sales</a>, with the company capturing an 18% market share, just behind Samsung. 
Earlier in April, Apple had expressed interest in <a href="https://www.benzinga.com/news/24/04/38290331/tim-cook-eyes-apple-manufacturing-expansion-in-indonesia-after-talks-with-president-theres-a-lot-of">expanding its manufacturing base to Indonesia</a> following discussions between CEO Tim Cook and the Indonesian President. 
Despite the ban, Apple&#8217;s iPhone 16 series has been <a href="https://www.benzinga.com/news/24/10/41146507/apples-iphone-16-series-leads-growth-but-high-end-model-preference-declines-analyst">leading growth in the smartphone market</a>, according to JPMorgan analyst Samik Chatterjee. 
Price Action: Apple Inc.&#8217;s stock closed at $233.85 on Tuesday, up 1.10%, for the day. In after-hours trading, the stock rose 0.11%. Year to date, Apple&#8217;s stock has increased by 25.97%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
<a href="https://www.benzinga.com/markets/equities/24/10/41328454/why-nvidia-amd-and-other-chipmakers-are-moving-lower-in-tuesdays-premarket?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Nvidia, AMD And Other Chipmakers Are Moving Lower In Tuesday&#8217;s Premarket</a>
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>

iPhone 16 Sales Banned In Indonesia After Apple's Investments Obligations In Asian Giant Fall Short By Just $15M

Reported Earlier, Woodside Energy To Delist From London Stock Exchange, Last Trading Day Set For November 19

The offering size was increased from the previously announced offering size of&nbsp;$500.0 million&nbsp;aggregate principal amount of notes. The issuance and sale of the notes are scheduled to settle on October 18, 2024, subject to customary closing conditions. Guidewire also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional&nbsp;$90.0 million&nbsp;aggregate principal amount of notes.
The notes will be senior, unsecured obligations of Guidewire and will accrue interest at a rate of&nbsp;1.25%&nbsp;per annum, payable semi-annually in arrears on May 1 and November 1 of each year, beginning on May 1, 2025. The notes will mature on November 1, 2029, unless earlier repurchased, redeemed or converted. Before August 1, 2029, noteholders will have the right to convert their notes only upon the occurrence of certain events.

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