Últimas noticias sobre Zai Lab (OTC:ZAILF) Bolsa

Zai Lab Ltd is a biopharmaceutical company focusing on discovering or licensing, developing, and commercializing proprietary therapeutics that address areas of unmet medical need including in the fields of oncology, autoimmune and infectious diseases. The pipeline of proprietary drug candidates of the company includes ZL-2306 for treatments across multiple solid tumor types including ovarian and certain types of breast and lung cancers; ZL-2401 which is an antibiotic in a new class of tetracycline derivatives; and ZL-2301 is an oral, small molecule which targets HCC.

Zai Lab Ltd

A leading Wall Street analyst has unveiled a comprehensive analysis of Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) potential in the robotaxi market, presenting five distinct scenarios that could shape <a href="https://www.benzinga.com/general/24/10/41257117/teslas-robotaxi-event-could-investor-hopes-be-premature-analyst-predicts-mass-production-not-until-2">the electric vehicle maker&#8217;s future valuation</a>.
What Happened: Pierre Ferragu, lead analyst at New Street Research, released a presentation Wednesday. The report employs a decision-tree approach to map out possible outcomes for Tesla&#8217;s autonomous driving ambitions.
At the heart of Ferragu&#8217;s analysis is whether Tesla can achieve unsupervised full self-driving capability. This technological milestone serves as the primary branching point for the scenarios, each with dramatically different implications for Tesla&#8217;s market position and valuation by 2030.
The scenarios range from a baseline valuation of $1.4 trillion, assuming Tesla fails to launch a robotaxi service, to an optimistic projection of $4.7 trillion if the company dominates the robotaxi market with limited competition.
Tesla has current a market cap of $770.06 <a href="https://companiesmarketcap.com/tesla/marketcap/#:~:text=Market%20cap:%20$781.15%20Billion,much%20a%20company%20is%20worth.">billion</a>, according to CompaniesMarketCap.
Key decision points in Ferragu&#8217;s analysis include:
<ol>
<li>Does Tesla achieve unsupervised FSD?</li>
<li>Can unsupervised FSD operate a robotaxi?</li>
<li>Can Tesla&#8217;s robotaxi service scale out?</li>
<li>Can competitors reach scale?</li>
</ol>
The most conservative scenario envisions Tesla unable to launch a robotaxi service, with FSD improvements providing a modest 2 percentage point boost to margins. In contrast, the most bullish scenario predicts Tesla capturing over 80% of the robotaxi market without partnering with established ride-hailing companies.
Ferragu&#8217;s middle scenarios explore outcomes where Tesla partners with Uber Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) to penetrate the human-driven fleet gradually, or where multiple robotaxi fleets compete, with Tesla securing a 50% market share.
The analysis highlights the critical importance of Tesla&#8217;s ability to scale its FSD technology into a &#8220;pure-play&#8221; nationwide robotaxi network. Success in this arena could potentially transform Tesla from primarily an automaker to a dominant force in autonomous transportation services.
Notably, even in scenarios where Tesla fails to achieve full robotaxi deployment, Ferragu projects significant growth. The baseline scenario still anticipates Tesla&#8217;s annual vehicle production increasing from 2 million units in 2023 to 7 million by 2030, with a corresponding rise in other revenue streams such as energy storage.
While the report presents a range of outcomes, it underscores the transformative potential of successful robotaxi deployment for Tesla&#8217;s business model and valuation. However, the analysis also acknowledges the technological and regulatory hurdles that must be overcome to realize the more optimistic scenarios.
Ferragu shared the same report on X, captioning it as &#8220;Framing the robotaxi opportunity.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> &#8211; FRAMING THE ROBOTAXI OPPORTUNITY Links below to download our research and to the Space we organize today today at 2:00 PM ET / 11:00 AM PT with Farzy &amp; Hans &#x1f447; <a href="https://t.co/eiKWp9No3f">pic.twitter.com/eiKWp9No3f</a>
&mdash; Pierre Ferragu (@p_ferragu) <a href="https://twitter.com/p_ferragu/status/1844007155218919823?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Tesla is gearing up for its highly anticipated robotaxi event, <a href="https://www.benzinga.com/markets/equities/24/10/41244101/teslas-party-could-be-crashed-by-baidu-as-chinese-rival-considers-global-robotaxi-expansion">scheduled for Thursday</a>.
See Also: <a href="https://www.benzinga.com/news/24/10/41245477/trumps-teen-granddaughter-poses-with-cybertruck-for-homecoming-weekend-as-tesla-ceo-elon-musk-and-fo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Teen Granddaughter Poses With Cybertruck For Homecoming Weekend As Tesla CEO Elon Musk And Former President&#8217;s Ties Deepen</a>
Why It Matters: Tesla&#8217;s robotaxi ambitions have been a topic of considerable interest, particularly as the company prepares for its highly anticipated Robotaxi event. According to a recent analysis, <a href="https://www.benzinga.com/general/24/10/41257117/teslas-robotaxi-event-could-investor-hopes-be-premature-analyst-predicts-mass-production-not-until-2">some experts caution that mass production</a> of Tesla&#8217;s robotaxis may not occur until 2027, despite investor optimism.
Meanwhile, Ark Invest analyst Tasha Keeney suggests that Tesla&#8217;s robotaxi platform could account for a significant portion of the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41247281/teslas-robotaxi-platform-could-account-for-90-of-ev-giants-enterprise-value-over-th">company&#8217;s enterprise value in the coming years</a>. Keeney anticipates that Tesla&#8217;s autonomous ride-hailing platform could launch within the next year or two, following advancements in FSD technology.
Additionally, Tesla faces potential competition from Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), which is <a href="https://www.benzinga.com/markets/equities/24/10/41244101/teslas-party-could-be-crashed-by-baidu-as-chinese-rival-considers-global-robotaxi-expansion">reportedly considering expanding</a> its Apollo Go robotaxi service internationally. 
Elon Musk, CEO of Tesla, has previously stated that the company&#8217;s robotaxis <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-">could offer point-to-point transportation</a> at a cost comparable to bus tickets, potentially revolutionizing public transport once fully operational.
In August, The Future Fund Managing Partner Gary Black voiced skepticism about <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40333845/gary-black-highlights-skepticism-over-teslas-autonomy-ambitions-amid-competition-fr">Tesla maintaining a monopoly</a> in the unsupervised L4/L5 autonomy market. He pointed out that other companies, such as Baidu Inc., Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), and Alphabet Inc. (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>) subsidiary Waymo have already received approval to deploy their autonomous vehicles.
Price Action: Tesla Inc. stock closed at $241.05 on Wednesday, down 1.41% for the day. In after-hours trading, the stock saw a slight uptick, rising 0.21%. Year to date, Tesla&#8217;s stock has declined by 2.97%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/24/10/41201568/mark-zuckerberg-redesigns-porsche-cayenne-turbo-gt-into-a-minivan-for-wife-priscilla-chan-gets-a-911?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Redesigns Porsche Cayenne Turbo GT Into A Minivan For Wife Priscilla Chan, Gets A 911 GT3 For Himself</a>
Tesla Robotaxi &#x7C; Photo Courtesy: Tesla
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

News

Markets

BIDU

GOOG

GOOGL

MBLY

TSLA

UBER

Tesla's Future Valuation: Analyst Pierre Ferragu Unveils Scenarios Ranging From $1.4 To $4.7 Trillion Based On FSD, Robotaxi Success

The Chinese market, which reopened on Tuesday after a weeklong public holiday, was pressured on Wednesday as domestic traders did not get the additional stimulus they had factored in. Come Thursday, things took a turn for the better as the People&#8217;s Bank of China announced measures to boost the stability of the domestic equity market.
What Happened: In a statement released on its website, the PBoC said it has decided to establish the &#8220;Securities, Funds and Insurance Companies Swap Facility,&#8221; or SFISF, to support qualified securities, funds and insurance companies to exchange bonds, stock exchange-traded funds and CSI 300 constituent stocks and other assets for high-grade liquid assets such as Treasury bonds and central bank bills from the central bank. 
The scale of operation during the first phase is 500 billion yuan ($70.7 billion) and this could be expanded further depending on the situation, the central bank said. Applications from qualified securities, funds and insurance companies will be accepted with immediate effect, it said.
The central bank clarified that the new measure is in order to implement the requirements of the Third Plenary Session of the 20th CPC Central Committee regarding &#8220;establishing a long-term mechanism to enhance the inherent stability of the capital market&#8221; and promote the healthy and stable development of the capital market.&#8221;
See Also: <a href="https://www.benzinga.com/money/best-chinese-stocks">Best Chinese Stocks</a>
Thursday&#8217;s announcement comes on top of the liquidity-boosting measures the central bank announced in late September regarding cutting the reserve requirement ratio, which is the amount of cash banks must hold as reserves, by 50 basis points freeing up about 1 trillion yuan for new lending.
The central bank hinted at the possibility of reducing it by a further 0.25-0.50% points. It also said it would lower the seven-day repo rate by 0.2 points, the interest rate on a medium-term lending facility by about 30 basis points and loan prime rates by 20-25 basis points.
Market Reacts: The Shanghai Composite Index &#8211; the key market gauge of mainland China, rallied strongly following the fresh stimulus. After opening at 3,277.69, modestly higher than the previous close of 3,258.86, the index gave back its gains in early trading and moved below the unchanged line.
Following PBoC&#8217;s announcement, the index recovered. At last check, it traded 2.92% higher at 3,353.91.
Hong Kong&#8217;s Hang Seng Index also rallied over 4%.
US-listed Stocks Rip Higher: U.S.-listed Chinese stocks listed in Hong Kong reflected the buoyancy and were sharply higher by mid-day on Thursday. Among the gainers are:
<ul>
<li>Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) gained 4.28%.</li>
<li>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) jumped 9.50%.</li>
<li>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) rose 5.96%.</li>
<li>Nio, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) added 6%.</li>
<li>JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) climbed 5.63%.</li>
<li>Tencent Holdings Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) moved up 1.98%.</li>
<li>Baidu, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) moved up 2.47%.</li>
</ul>
The iShares MSCI China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NASDAQ">MCHI</a>) ended Wednesday&#8217;s session down 2.36% at $51.97, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41182930/china-was-tipping-into-a-japan-style-lost-decade-of-deflation-and-stagnation-before-late-septemb">China Was Tipping Into A Japan-Style &#8216;Lost Decade&#8217; Of Deflation And Stagnation Before Late-September Stimulus Announcements, Says Legal Expert</a></li>
</ul>
Image via Shutterstock

Asia

BABA

MCHI

TCEHY

XPEV

Alibaba, JD.com, XPeng Soar In Hong Kong As PBOC's Fresh Stimulus To Boost Stock Market Sends Chinese Main Stock Market Gauge Up By 3%

Earlier this year, tech giants Alphabet Inc.&#8217;s Google and Apple Inc. joined forces to simplify the process of moving photos and videos between their platforms by launching a tool.
What Happened: The new tool allows users to transfer media directly from Google Photos to iCloud Photos without the hassle of manual downloads and uploads.
This collaboration addresses a common pain point for users switching between ecosystems or looking to consolidate their digital memories.
The transfer process, which can be initiated through Google Takeout, promises to save both time and data for users with extensive media libraries.
While the service is available to most Apple users globally, there are some limitations. Child accounts, Managed Apple IDs, and users with Advanced Data Protection enabled are currently not eligible for the transfer service.
See Also: <a href="https://www.benzinga.com/news/24/09/41108345/apples-satellite-messaging-feature-emerges-as-lifeline-after-hurricane-helene-leaves-thousands-witho">Apple&#8217;s Satellite Messaging Feature Emerges As Lifeline After Hurricane Helene Leaves Thousands Without Cell Phone Service: Here&#8217;s How You Can Use It</a>
<h3 class="wp-block-heading">How To Transfer Google Photos To iCloud</h3>
Step I: Visit Google Takeout.
Step II: Select &#8220;Apple &#8211; iCloud Photos&#8221; as the destination.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07044955/Screenshot-2024-10-07-at-2.19.30%E2%80%AFPM-1024x969.png" alt="" class="wp-image-582897" style="width:519px;height:auto" /></figure>
Step III: Sign in with your Apple ID and grant the necessary permissions.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07045006/Screenshot-2024-10-07-at-2.19.59%E2%80%AFPM-1024x810.png" alt="" class="wp-image-582898" style="width:519px;height:auto" /></figure>
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It's Important: This move by Google and Apple not only benefits consumers but also signals a potential shift towards greater interoperability between major tech platforms.
As users become increasingly reliant on cloud storage for their digital lives, such collaborations could become more common in the future.
For those considering a switch from Android to iOS or looking to consolidate their photo libraries, this new tool offers a seamless solution.
However, users should ensure they have sufficient iCloud storage before initiating the transfer to avoid any hiccups in the process.
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:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/41061167/ios-18-includes-apples-new-passwords-app-with-end-to-end-encryption-heres-how-you-use-it">iOS 18 Includes Apple&#8217;s New Passwords App with End-to-End Encryption: Here&#8217;s How You Use It</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Google

Tech

How To Switch From Google Photos To Apple's iCloud

Did you know you can lock or hide individual apps on your iPhone for even more privacy?
Whether you&#8217;re handing your phone to someone or just want to keep certain apps off-limits, here's how you can lock or hide apps with Face ID, Touch ID, or your passcode—no stress, just simple steps.
<h3 class="wp-block-heading">How to Lock An App</h3>
Step I: Go to your Home Screen.
Step II: Find the app you want to lock.
Step III: Press and hold the app icon until a menu pops up.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="472" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043509/IMG_4355-472x1024.png" alt="" class="wp-image-587114" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043509/IMG_4355-472x1024.png 472w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043509/IMG_4355-138x300.png 138w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043509/IMG_4355.png 498w" sizes="(max-width: 472px) 100vw, 472px" /></figure>
Step IV: Tap Require Face ID (or Touch ID or Passcode), and then repeat the same.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="472" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043646/IMG_4356-472x1024.png" alt="" class="wp-image-587115" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043646/IMG_4356-472x1024.png 472w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043646/IMG_4356-138x300.png 138w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043646/IMG_4356.png 498w" sizes="(max-width: 472px) 100vw, 472px" /></figure>
Step V: Authenticate with Face ID, Touch ID, or your passcode.
Now, your app is locked and won't show up in notifications, search results, or Siri suggestions.
Heads up: You can&#8217;t lock system apps like Calculator, Camera, and Maps.
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.
<h3 class="wp-block-heading">How To Unlock A Locked App</h3>
Step I: Tap the app from the Home Screen.
Step II: Authenticate using Face ID, Touch ID, or your passcode.
<h3 class="wp-block-heading">How To Remove The Lock</h3>
Step I: Press and hold the app icon.
Step II: Tap Don't Require Face ID (or Touch ID or Passcode), then authenticate.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="472" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043812/IMG_4357-472x1024.png" alt="" class="wp-image-587117" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043812/IMG_4357-472x1024.png 472w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043812/IMG_4357-138x300.png 138w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043812/IMG_4357.png 498w" sizes="(max-width: 472px) 100vw, 472px" /></figure>
Want to take it further? You can hide apps so they disappear from your Home Screen but still live in your App Library.
See Also: <a href="https://www.benzinga.com/news/24/09/41108345/apples-satellite-messaging-feature-emerges-as-lifeline-after-hurricane-helene-leaves-thousands-witho">Apple&#8217;s Satellite Messaging Feature Emerges As Lifeline After Hurricane Helene Leaves Thousands Without Cell Phone Service</a>
<h3 class="wp-block-heading">How To Hide An App</h3>
Step I: Go to your Home Screen.
Step II: Press and hold the app icon until the menu appears.
Step III: Tap Require Face ID (or Touch ID or Passcode).
Step IV: Tap Hide and Require Face ID, then authenticate.
Step V: The app moves to the Hidden folder in your App Library.
<h3 class="wp-block-heading">How To Access A Hidden App</h3>
Step I: Swipe left through your Home Screen to reach the App Library.
Step II: Scroll to the bottom and tap the Hidden folder.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="472" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043836/IMG_4358-472x1024.png" alt="" class="wp-image-587119" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043836/IMG_4358-472x1024.png 472w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043836/IMG_4358-138x300.png 138w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09043836/IMG_4358.png 498w" sizes="(max-width: 472px) 100vw, 472px" /></figure>
Step III: Authenticate, then tap the app to open it.
<h3 class="wp-block-heading">How To Bring The App Back On Home Screen</h3>
Step I: Open the Hidden folder in your App Library.
Step II: Press and hold the app, select Don't Require Face ID, and authenticate.
Note: Apps that come pre-installed with iOS 18 or later cannot be hidden—only apps you download from the App Store can be concealed.
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:
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40282420/dont-want-to-pay-20-for-chatgpt-plus-subscription-and-still-generate-images-via-dall-e-3-heres-what">Don&#8217;t Want To Pay $20 For ChatGPT Plus Subscription And Still Generate Images Via DALL-E 3? Here&#8217;s What You Have To Do</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Bagus Hernawan on Unsplash

How To Lock Or Hide Apps On Your iPhone For Extra Privacy

LTRX

Reported Earlier, Lantronix Debuts Five New System-in-Package Solutions, Powered by Qualcomm,

After <a href="https://www.benzinga.com/news/24/10/41233245/ai-godfather-geoffrey-hinton-wins-nobel-prize-for-artificial-intelligence-work-work-has-already-been">winning the 2024 Nobel Prize</a> in Physics for his work in artificial intelligence, Geoffrey Hinton,&nbsp;known as the &#8220;Godfather of AI,&#8221; took a jab at OpenAI CEO&nbsp;Sam Altman.
What Happened: During a conversation with&nbsp;University of Toronto&nbsp;president Meric Gertler, which was posted on YouTube on Wednesday, Hinton expressed pride in his students&#8217; achievements, particularly highlighting the incident involving Altman.
The Nobel winner, who is a University Professor Emeritus&nbsp;of computer science at the University of Toronto, said, &#8220;I&#8217;d also like to acknowledge my students … they&#8217;ve gone on to do great things. I&#8217;m particularly proud of the fact that one of my students fired Sam Altman.&#8221;
He was referring to Ilya Sutskever, who studied machine learning at the University of Toronto, where Hinton has been a longtime professor.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41242624/elon-musk-vows-to-defend-freedom-of-speech-but-within-the-boundaries-of-the-law-as-x-gets-brazil-gre?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Vows To Defend Freedom Of Speech, But &#8216;Within The Boundaries Of The Law&#8217; As X Gets Brazil Greenlight To Resume Operations</a>
When asked to elaborate on his comment, Hinton said that explained that OpenAI was established with a strong&nbsp;emphasis on safety. Its primary&nbsp;objective was to develop artificial&nbsp;general intelligence and ensure its safety.
&#8220;One of my former students, Ilya Sutskever was the chief scientist and over time it turned out that Sam Altman was much less concerned with safety than with profits and I think that&#8217;s unfortunate,&#8221; he stated.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="University of Toronto Press Conference - Professor Geoffrey Hinton, Nobel Prize in Physics 2024" width="500" height="281" src="https://www.youtube.com/embed/H7DgMFqrON0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Last year in November, Altman stepped down from his <a href="https://www.benzinga.com/news/23/11/35856766/sam-altman-departs-openai-over-board-communication-issues-new-ceo-to-assume-leadership">role as CEO due to concerns</a> about his transparency in communications with the board, leading to a loss of confidence in his leadership.
Later, when OpenAI's staff and top executives revolted against the decision, <a href="https://www.benzinga.com/news/23/11/35872963/deeply-regret-my-participation-openais-chief-scientist-who-voted-to-oust-altman-vows-to-reunite-the">Sutskever conceded</a>, expressing regret over the board's decision. &#8220;I deeply regret my participation in the board's actions. I never intended to harm OpenAI.&#8221;
Altman eventually <a href="https://www.benzinga.com/news/23/11/35911061/sam-altman-to-return-as-openai-ceo-as-new-board-collaborating-to-figure-out-details">returned as CEO of OpenAI</a>. &#8220;We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board of Bret Taylor (Chair), Larry Summers, and Adam D&#8217;Angelo,&#8221; the company stated at the time.
In May 2024, Sutskever <a href="https://www.benzinga.com/news/24/05/38834519/openai-chief-scientist-ilya-sutskever-steps-down-ceo-sam-altman-calls-him-a-guiding-light-of-ai-fiel">announced his departure</a> from OpenAI, expressing confidence in the company&#8217;s ability&nbsp;to develop artificial general intelligence&nbsp;under Altman&#8217;s leadership.
Later in September, Sutskever&#8217;s AI startup, Safe Superintelligence (SSI), <a href="https://www.benzinga.com/news/24/09/40722123/openai-co-founder-ilya-sutskevers-ai-startup-raises-1b-from-andreessen-horowitz-sequoia-as-sam-altma">raised $1 billion to develop</a> advanced AI systems.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Photo Courtesy: Wikimedia Commons
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41220759/nvidia-ceo-jensen-huang-once-spoke-about-the-importance-of-every-country-needing-a-sovereign-ai-but?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia CEO Jensen Huang Once Spoke About The Importance Of Every Country Needing A Sovereign AI — But What Exactly Is This?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

2024 Physics Nobel Laureate Geoffrey Hinton Says 'Particularly Proud' Of The Student That Fired OpenAI CEO Sam Altman Who Was 'Less Concerned With Safety Than With Profits'

Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) is working towards its goal of transforming into a zero-emission platform with measures including the introduction of an AI assistant on the driver app to help with EV-related queries, company CEO Dara Khosrowshahi said on Tuesday. 
What Happened: Uber committed to transforming into a zero-emission platform by 2040 four years ago. On Tuesday, Khosrowshahi said in a blog that the company invested heavily to increase the number of electric vehicles in its fleet to over 182,000 units.
&#8220;It's important progress, but we know it's not enough.&nbsp;In order to help repair our planet,&nbsp;both the public and private sectors need to act with more urgency. And while we know the future is electric, getting there requires new ideas and constant innovation,&#8221; the CEO said. 
The CEO also announced the rollout of new features and updates to ramp up the electrification of its fleet including kicking off a series of premium EV pop-ups so riders can try previous EVs such as the Lotus Eletre in London and Rivian R1 in LA, Miami, and Dallas. The CEO also announced an AI assistant in the driver app powered by&nbsp;OpenAI's GPT-4o to help resolve drivers&#8217; queries on EVs. 
Why It Matters: Uber&#8217;s push towards electrification comes ahead of EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41257775/uber-well-positioned-despite-tesla-robotaxi-threat-analyst-says">unveiling its dedicated robotaxi product</a> on Oct. 10.
Musk has previously said that the company&#8217;s robotaxi fleet will operate as a mix of Uber and Airbnb. While a certain portion of the fleet will be owned by Tesla, individual Tesla customers can also add or subtract their vehicles to the robotaxi fleet at will for additional income. As for riders, they can summon a car using the Tesla App, Musk said.
However, not a lot of people are convinced about the functionality of this model, <a href="https://www.benzinga.com/news/24/08/40299293/uber-ceo-dara-khosrowshahi-doubts-teslas-robotaxi-fleet-management-plans-but-maintains-hope-for-part" target="_blank" rel="noreferrer noopener">including the Uber</a> CEO who flagged concerns including whether a car owner is going to want their car to be ridden in by a complete stranger.
He also flagged other concerns including trouble in meeting demand as individual drivers might want their vehicles at the same hour as when demand peaks.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41244645/gm-rolls-out-more-affordable-silverado-ev-trim-to-compete-with-ford-f-150-lightning-tesla-cybertruck">GM Rolls Out More Affordable Silverado EV Trim To Compete With Ford F-150 Lightning, Tesla Cybertruck</a></li>
</ul>
Photo courtesy: Wikimedia

Uber Announces Measures To Ramp Up Electrification Of Its Fleet Ahead Of Tesla's Robotaxi Unveil

The notes will bear interest at a rate of&nbsp;5.600%&nbsp;per annum. Interest on the notes will be payable semi-annually in arrears on April 11 and October 11 of each year, commencing April 11, 2025.
The net proceeds from the Offering will be approximately&nbsp;$737.7 million, after deducting the underwriting discount, but before offering expenses. Ares intends to use the net proceeds from the Offering for (i) the payment of a portion of the cash consideration due in respect of Ares&#39; previously announced acquisition of the international business of GLP Capital Partners Limited and certain of its affiliates, excluding its operations in Greater China (&quot;GCP International&quot;), and existing capital commitments to certain managed funds (the &quot;GCP Acquisition&quot;) and related fees, costs and expenses and/or (ii) general corporate purposes, including repayment of debt, other strategic acquisitions and growth initiatives. Pending such use, Ares may invest the net proceeds in short-term investments.

ARES

Reported Earlier, Ares Management Prices $750M 5.600% Senior Notes Due 2054

BW LPG Limited (&quot;BW LPG&quot; or the &quot;Company&quot;, OSE ticker code: &quot;BWLPG.OL&quot;, NYSE ticker code: &quot;BWLP&quot;) today provides an update on its Product Services&#39; (&quot;BW Product Services&quot;)&nbsp;Q3&nbsp;2024 segment performance. For the quarter ended 30 September 2024, BW Product Services reported an estimated gross profit of approximately USD 71 million. This gross profit was mainly a result of USD 86 million of unrealised marked to market value of open cargo contracts and hedging transactions, realised trading gains of USD 16 million, offset by hedging loss of USD 31 million on the realised positions. The open cargo value is reflected in the overall trading book value and will be gradually revalued and realised in the next 12 months, as per standard methodology.
After general and administrative expenses and income taxes, BW Product Services reported an estimated net profit of approximately USD 60 million for the quarter.
The average Value-At-Risk (VAR) for the quarter was approximately USD 5 million.
BW LPG will release its&nbsp;Q3&nbsp;2024 financial report on 2 December 2024.

BWLP

BW LPG's Product Services Reports $60M Net Profit For Q3 2024; Average VAR For The Quarter Stood At $5M

<ul>
<li>Proof of concept clinical trial will evaluate leniolisib in PIDs with immune dysregulation linked to altered PI3Kẟ signaling in lymphocytes</li>
<li>PIDs to include ALPS-FAS, CTLA4 haploinsufficiency, NFKB1 haploinsufficiency and PTEN deficiency, with prevalence approximately five times that of APDS&nbsp;</li>
<li>Clinical trial being conducted at the National Institutes of Health (NIH)</li>
</ul>

Health Care

General

PHAR

Pharming Group Begins Phase II Trial Of Leniolisib To Address Rare Primary Immunodeficiencies With Immune Dysregulation

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fixed a four-year-old bug in the rendering of its <a href="https://www.benzinga.com/topic/tesla-fsd">full self-driving (FSD)</a> driver assistance software, company senior executive Ashok Elluswamy said on Tuesday.
What Happened: &#8220;Because we fixed a four year old bug in the rendering!&#8221; Elluswamy wrote to an X user who wondered why FSD visualization on the vehicle display has become smooth and steady with the recent update.
Elluswamy is the Director of Autopilot software at Tesla and often takes to X to <a href="https://www.benzinga.com/news/24/10/41110109/tesla-senior-exec-says-drivers-of-older-model-s-x-vehicles-can-summon-them-by-last-quarter-of-2024">provide updates</a> on Tesla&#8217;s driver assistance technology and efforts toward autonomous driving. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Because we fixed a four year old bug in the rendering!
&mdash; Ashok Elluswamy (@aelluswamy) <a href="https://twitter.com/aelluswamy/status/1843862886789361760?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Tesla CEO Elon Musk has previously said that the company will enable autonomous driving with future updates of FSD. The company deployed the software on its latest vehicle offering- the Cybertruck- last month. 
Tesla is also looking to unveil a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41257775/uber-well-positioned-despite-tesla-robotaxi-threat-analyst-says">dedicated robotaxi product</a> on Oct. 10 as an initiation step into developing a self-driving taxi network. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41247281/teslas-robotaxi-platform-could-account-for-90-of-ev-giants-enterprise-value-over-th">Tesla&#8217;s Robotaxi Platform Could Account For 90% Of EV Giant&#8217;s Enterprise Value Over The Next 5 Years, Says Ark Invest Analyst</a></li>
</ul>
Photo courtesy: Unsplash

Tesla's Latest FSD Update Smooths Out Jittery Car Visualizations, Fixing 4-Year Bug

Macro Economic Events

Econ #s

Economics

Reported Earlier, Australia Building Approvals (MoM) For August -6.1% Vs. -6.1% Est.; 11.0% Prior

Cathie Wood, CEO of Ark Invest, extended her congratulations to Brian Armstrong, the Co-founder and CEO of Coinbase, on his recent marriage to Angela Meng.
What Happened: According to a post by Armstrong on X, the couple got married over the past weekend. Armstrong shared his excitement, stating, &#8220;I got married this past weekend to my long-term partner and best friend, Angela Meng! Can't wait to build a life together.&#8221;
Wood&#8217;s congratulatory message on X read, &#8220;So happy for you and Angela, Brian!&#8221; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">So happy for you and Angela, Brian! <a href="https://t.co/NLf7D4Jmdu">https://t.co/NLf7D4Jmdu</a>
&mdash; Cathie Wood (@CathieDWood) <a href="https://twitter.com/CathieDWood/status/1844057139977019746?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Michael Saylor, founder and chairman of MicroStrategy, also <a href="https://x.com/saylor/status/1844133246021534087">joined</a> the celebrations, offering his congratulations to the newlyweds. 
Armstrong, a prominent figure in the cryptocurrency sector, is known not only for his role at Coinbase but also for his vocal stance on <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38195300/coinbase-ceo-brian-armstrong-highlights-crypto-advocacy-as-sec-exerts-regulatory-pressure-">crypto regulation and workplace political issues</a>.
Armstrong's newlywed wife, Meng, resides in Los Angeles. She has an impressive background, having previously worked as an investment banker at Lazard in New York, a journalist covering politics and society for the South China Morning Post in Hong Kong and Reuters in Beijing, and a model with Elite Model Management and LA Models.
In response to critiques regarding Coinbase CEO Armstrong&#8217;s past marriage and divorce, which are rarely discussed publicly, he <a href="https://x.com/brian_armstrong/status/1844205001230647419">said</a>, &#8220;Seeing some misinformation out there. I've never been married before. But thank you for your interest.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41200679/len-sassaman-is-bitcoin-creator-satoshi-nakamoto-in-hbo-documentary-polymarket-punters-see?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Len Sassaman Is Bitcoin Creator Satoshi Nakamoto In HBO Documentary? Polymarket Punters See High Probability</a>
Why It Matters: Armstrong&#8217;s personal life event comes amid a dynamic period for Coinbase and the broader cryptocurrency industry. Earlier this year, Armstrong emphasized the need for a <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39334039/coinbase-ceo-brian-armstrong-says-both-parties-need-to-address-untenable-regulatory-situat">bipartisan approach to cryptocurrency regulation</a> during a discussion with Wood. 
In the second quarter of 2024, Armstrong addressed the shifting political landscape, asserting that cryptocurrency is a non-partisan issue with advocates from both sides of the political spectrum. This statement came during a <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40123413/coinbase-ceo-brian-armstrong-was-asked-if-another-democratic-administration-would-prove-di">company earnings call</a>, where he was questioned about potential challenges if Democrats secured another term.
Additionally, Coinbase experienced record growth driven by the excitement around Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ETFs, leading to all-time highs in trading volume and active clients, particularly in the institutional sector, as noted by Armstrong in May. This surge in activity was attributed to the launch of several <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38605448/bitcoin-etf-mania-drives-record-growth-across-coinbases-platforms-ceo-brian-armstrong-note">Bitcoin spot ETFs in the U.S. earlier this year</a>.
Armstrong has also been a vocal advocate for the crypto industry, standing up against regulatory pressures from the SEC, as demonstrated in his support for Uniswap amid scrutiny. He publicly aligned with the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38195300/coinbase-ceo-brian-armstrong-highlights-crypto-advocacy-as-sec-exerts-regulatory-pressure-">Stand with Crypto Alliance</a>, emphasizing the importance of crypto advocacy.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41221351/elon-musks-theory-gains-ground-polymarket-odds-soar-for-nick-szabo-being-named-bitcoin-cre?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Theory Gains Ground? Polymarket Odds Soar For Nick Szabo Being Named Bitcoin Creator Satoshi Nakamoto In HBO Documentary</a></li>
</ul>
Image Via Flickr
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>

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

Cryptocurrency

Social Media

$BTC

Cathie Wood And Michael Saylor Celebrate Coinbase CEO Brian Armstrong's Wedding To Angela Meng: 'Can't Wait To Build A Life'

&nbsp;Amazon.com, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) have announced a collaboration, as per which Apple TV+ will be available through&nbsp;Prime Video.
What Happened: Apple TV+ will join Prime Video's collection of over&nbsp;100 add-on subscription options in&nbsp;the U.S., which include Warner&nbsp;Bros. Discovery's Max, Paramount Global's&nbsp;Paramount+, Sony's Crunchyroll, and Amazon-owned MGM+.
Starting later this month, Apple TV+ will be offered as a $9.99 per month add-on subscription through Amazon Prime Video in the U.S.
Prime members who subscribe will gain access to a wide range of premium content, including popular series like&nbsp;&#8220;Severance,&#8221;&nbsp;&#8220;Slow Horses,&#8221;&nbsp;&#8220;The Morning Show,&#8221;&nbsp;&#8220;Hijack,&#8221; and&nbsp;&#8220;Loot,&#8221; along with upcoming titles such as&nbsp;&#8220;Palm Royale.&#8221;
Subscribers will also enjoy blockbuster films like&nbsp;&#8220;Wolfs&#8221;&nbsp;and&nbsp;&#8220;The Instigators,&#8221; as well as Major League Soccer and Major League Baseball events.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41220759/nvidia-ceo-jensen-huang-once-spoke-about-the-importance-of-every-country-needing-a-sovereign-ai-but?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia CEO Jensen Huang Once Spoke About The Importance Of Every Country Needing A Sovereign AI — But What Exactly Is This?</a>
Mike Hopkins, SVP and Head&nbsp;of Prime Video and Amazon&nbsp;MGM Studios, described Prime Video as a &#8220;first-stop entertainment destination offering a&nbsp;wide selection of premium programming.&#8221;
&nbsp;Eddy Cue, Apple's SVP of Services stated that the tech giant wants the Apple TV+ library to be &#8220;available to as many viewers as possible.&#8221;
Amazon will receive a percentage&nbsp;of subscription revenue for streaming&nbsp;services purchased via Prime Video, although the exact terms remain undisclosed, <a href="https://variety.com/2024/tv/news/amazon-prime-video-apple-tv-plus-1236173900/">reported</a> Variety.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: As of April,&nbsp;Prime Video had surpassed 200&nbsp;million monthly viewers, according to CEO Andy Jassy. The addition of Apple TV+ is expected to further increase the platform&#8217;s appeal.
Apple TV+, despite being one of the <a href="https://www.benzinga.com/general/entertainment/24/04/38024244/appletv-a-streaming-winner-new-survey-shows-platform-has-smallest-library-highest-rated-con">smaller players in the streaming market</a>, has been aggressively spending on key content and sports media rights to boost its platform and subscriber base.
Earlier this year, a <a href="https://www.benzinga.com/general/entertainment/24/04/38024244/appletv-a-streaming-winner-new-survey-shows-platform-has-smallest-library-highest-rated-con">study by Self Financial showed</a> that AppleTV+ ranks first in terms of content quality. The rankings were determined by IMDb ratings, with a score of 8.0 or higher regarded as excellent for the study.
Although AppleTV+ led overall, Prime Video had the highest number of top-rated movies relative to the monthly spend per subscriber.
Meanwhile, Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) ranked first for the most shows with a rating of 8 or above, boasting 837 titles, followed by Walt Disney Co.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) Hulu/Disney+ with 637 titles in second place.
Previously, it was also reported that Amazon intends to increase <a href="https://www.benzinga.com/general/entertainment/24/10/41162458/amazon-ceo-andy-jassy-said-prime-video-will-have-meaningfully-fewer-ads-than-rivals-2-month">the number of advertisements</a> on its Prime Video platform starting next year.
Photo by Ivan Marc on Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41221276/apple-supplier-foxconn-to-build-worlds-largest-nvidia-superchip-factory-amid-soaring-ai-demand?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Supplier Foxconn To Build World&#8217;s Largest Nvidia Superchip Factory Amid Soaring AI Demand</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Entertainment

AAPL

AMZN

NFLX

Apple TV+ Coming To Amazon Prime Video This Month: What You Need To Know About the $9.99 Add-On

Reported Earlier, U.K. RICS House Price Balance For September 11% Vs. 0% (Revised) Prior

Renowned economist Claudia Sahm expressed concerns over a proposal by a Trump advisor to establish a &#8220;shadow Fed chair,&#8221; potentially undermining current Federal Reserve Chair Jerome Powell.
What Happened: Sahm&#8217;s comment came in response to a post by Heather Long, an Economic columnist for The Washington Post, detailing a plan proposed by Scott Bessent, the founder of hedge fund Key Square Group and Trump advisor. 
According to Long, if Trump wins the upcoming election, he will nominate a new Fed chair in 2025, a year before Powell&#8217;s tenure ends in May 2026. The move is aimed at turning Powell into a &#8220;lame duck&#8221; as markets and CEOs start paying more attention to the &#8220;shadow Fed Chair.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">What could possibly go wrong? Everything! <a href="https://t.co/LUmPvCNxKi">https://t.co/LUmPvCNxKi</a>
&mdash; Claudia Sahm (@Claudia_Sahm) <a href="https://twitter.com/Claudia_Sahm/status/1844122213458510158?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Long quoted Bessent stating to Barron&#8217;s Ideas Editor Matt Peterson, &#8220;No one is really going to care what Jerome Powell has to say anymore.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/10/41201553/walmart-displays-new-book-on-kamala-harris-achievements-with-blank-pages-sparks-online-buzz?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Walmart Displays New Book On Kamala Harris&#8217; &#8216;Achievements&#8217; With Blank Pages, Sparks Online Buzz</a>
Why It Matters: The proposal comes amidst Trump&#8217;s <a href="https://www.benzinga.com/news/24/09/40931251/trump-isnt-happy-with-jerome-powells-50-bps-rate-cut-maneuver-i-guess-it-shows-the-economy-is-very-b">public disapproval</a> of the Federal Reserve's recent decision to cut its benchmark interest rate by half a percentage point. Trump suggested this action could indicate a faltering U.S. economy or be politically motivated.
Earlier, Trump had assured that he would not seek to displace Powell before the end of his term. This assurance was made <a href="https://www.benzinga.com/news/24/07/39807207/trump-eyes-jamie-dimon-for-treasury-secretary-rules-out-ousting-fed-chair-jerome-powell">amidst his consideration</a> of JPMorgan Chase &amp; Co CEO Jamie Dimon for the Treasury Secretary position if he wins the forthcoming election.
Trump&#8217;s proposal of presidential control over the Fed's rate decisions had previously drawn criticism, with Bank of America CEO Brian Moynihan <a href="https://www.benzinga.com/news/24/08/40305295/after-trump-proposes-presidential-control-over-feds-interest-rate-decisions-bank-of-america-ceo-says">emphasizing the importance</a> of the Federal Reserve&#8217;s independence.
Image via Shutterstock
Check This Out:
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Politics

Trump Advisor's Proposal Of 'Shadow Fed Chair' Turning Jerome Powell Into A Lame Duck Gets Slammed By Economist Claudia Sahm: 'What Could Possibly Go Wrong? Everything!'

Former Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) CEO Ian Read and ex-CFO Frank D&#8217;Amelio have <a href="https://www.benzinga.com/markets/equities/24/10/41242925/pfizer-ceo-albert-bourla-set-to-meet-activist-investor-starboard-value-as-pressure-mounts-to-rev">decided to distance themselves</a> from the activist campaign led by Starboard Value at the pharmaceutical giant.
What Happened: Read and D&#8217;Amelio made their decision public on Wednesday. They expressed their full support for Pfizer&#8217;s current CEO, Albert Bourla, in a joint statement issued through an investment bank. The two former executives had been in communication with several directors just before news of Starboard&#8217;s stake emerged, <a href="https://www.cnbc.com/2024/10/10/former-pfizer-ceo-finance-chief-step-back-from-starboards-activist-campaign.html">reported</a> CNBC.
&#8220;We are confident that over time they will deliver shareholder value,&#8221; Read and D&#8217;Amelio said of Pfizer&#8217;s current board and management. This development comes at a time when Pfizer&#8217;s board is dealing with the activist&#8217;s efforts, and just before Starboard&#8217;s Jeff Smith was scheduled to meet with CEO Bourla.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41200679/len-sassaman-is-bitcoin-creator-satoshi-nakamoto-in-hbo-documentary-polymarket-punters-see?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Len Sassaman Is Bitcoin Creator Satoshi Nakamoto In HBO Documentary? Polymarket Punters See High Probability</a>
Why It Matters: Starboard, known for its tenacious activism, has built a <a href="https://www.benzinga.com/markets/equities/24/10/41199793/amid-pfizers-struggles-with-declining-demand-for-covid-19-treatments-activist-investor-starboard">stake of around $1 billion in Pfizer</a>. The fund&#8217;s managing member, Smith, has previously launched campaigns at Autodesk and Salesforce in recent months.
Price Action: Pfizer Inc. stock closed at $30.19 on Wednesday, gaining 3.46% during the regular trading session. In after-hours trading, the stock dipped slightly by 0.20%. Year to date, Pfizer&#8217;s stock has risen by 1.55%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companie?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Hurricane Milton Is Florida&#8217;s Second Storm In Two Weeks: How Disney, Theme Parks, Insurance Companies Could Be Impacted</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>

Former Pfizer Executives Ian Read And Frank D'Amelio Support Albert Bourla's Leadership Amid Starboard Activism: 'Will Deliver Shareholder Value'

<h2 class="wp-block-heading">Cannabis Legalization Draws More Ad Dollars Than Presidential Race</h2>
As the 2024 election season heats up, Florida&#8217;s presidential ad spending has taken a sharp decline, with cannabis legalization emerging as the dominant issue in the state.&nbsp;
According to media tracking firm AdImpact, just $1.4 million has been spent on TV ads for the presidential race between Kamala Harris and Donald Trump in Florida—down significantly from previous cycles.&nbsp;
By comparison, the 2016 presidential election saw $55 million in TV ad spending, while 2020 saw $177 million.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">$68 Million Poured Into Cannabis Legalization</h3>
In stark contrast, Amendment 3, which seeks to legalize cannabis, has drawn an enormous $68 million in ad spending—more than any other political cause on the <a href="https://www.benzinga.com/topic/florida-cannabis">Florida ballot</a>.&nbsp;
Local media <a href="https://www.news-journalonline.com/story/news/politics/elections/2024/10/08/florida-presidential-election-amendments-marijuana-abortion-tv-ads/75513759007/">reported</a> Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), has spent $55 million in support of the amendment through its backing of the group Smart &amp; Safe Florida.&nbsp;
<a href="https://www.benzinga.com/markets/cannabis/24/10/41207561/desantis-state-of-florida-under-fire-for-taxpayer-funded-anti-cannabis-ad-as-new-lawsuit-emerges">Opponents of the amendment</a>, including the Florida Republican Party and No on 3 have spent a combined $11.7 million to defeat the measure.
Read Also:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41132320/slipping-weed-sales-in-floridas-market-is-this-100m-bet-really-worth-the-hype"> Slipping Weed Sales In Florida&#8217;s Market: Is This $100M Bet Really Worth The Hype?</a>
<h3 class="wp-block-heading">Slashing Budgets&nbsp;</h3>
Florida&#8217;s once-crucial status as a battleground state has faded, with both major parties slashing presidential campaign budgets. Harris has spent only $539,000 on TV ads in the state, while Donald Trump and national Republicans have virtually ignored it, confident they will secure Florida&#8217;s 30 electoral votes.&nbsp;
In contrast, local media reported the <a href="https://www.benzinga.com/markets/cannabis/24/09/41002710/your-cousins-in-florida-like-their-weed-why-hispanic-voters-could-tip-the-scale-for-cannabis-wil">state remains a battleground </a>for social issues. Alongside the cannabis initiative, Amendment 4, which aims to protect abortion rights, has drawn $32.8 million in ad spending.
With over $100 million spent on these two amendments, it's clear that cannabis and abortion rights are <a href="https://www.benzinga.com/markets/cannabis/24/10/41149545/trump-harris-vance-and-walz-agree-on-this-end-cannabis-criminalization-in-florida">capturing the attention—and dollars</a>—of <a href="https://www.benzinga.com/topic/florida-cannabis">Florida </a>voters far more than the presidential race.
Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/09/40712816/what-trump-learned-about-marijuana-that-desantis-did-not-and-why-the-gop-might-become-weed-frien"> What Trump Learned About Marijuana That DeSantis Did Not And Why The GOP Might Become Weed-Friendly</a>

Cannabis

Government

Market Summary

Regulations

Legal

TCNNF

Forget Trump Vs. Harris – Florida's Biggest Election Battle Is Over Cannabis, And It's Costing Millions

Wall Street witnessed a bullish rally on Wednesday, with the S&amp;P 500 and the Dow Jones indices hitting record highs. This surge in the market was driven by optimism ahead of Thursday's Consumer Price Index inflation report and the start of the third-quarter earnings season.
On the day, the Dow Jones Industrial Average closed nearly 1% higher at 42,512, while the S&amp;P 500 increased by 0.7% to finish at 5,792.04. The Nasdaq also rose, ending the day up 0.6% at 2,200.59.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) closed the day with a gain of 4.05%, ending at $43.13. The stock hit an intraday high of $43.34, surpassing its previous 52-week high. The company&#8217;s shares have seen a <a href="https://www.benzinga.com/news/24/10/41260312/palantir-technologies-soars-to-new-52-week-highs-whats-going-on">significant surge</a>, marking a 133% year-to-date gain in 2024. Palantir&#8217;s Artificial Intelligence Platform, launched in 2023, is making strides across various industries, from defense to healthcare.
Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) shares traded 2.10% higher, closing at $909.10. The company reported net sales of $24.62 billion for September, an 8.9% increase over sales from the same period last year. <a href="https://www.benzinga.com/news/24/10/41261231/costco-reports-september-sales-results-what-to-know">Comparable sales</a>, excluding the impacts from changes in gasoline prices and foreign exchange, were up in the U.S., Canada, and e-commerce.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41245350/nvidia-poised-to-overtake-apple-as-worlds-most-valuable-company-how-much-jensen-huangs-company-n?itm_source=parsely-api">Nvidia Poised To Overtake Apple As World&#8217;s Most Valuable Company: How Much Jensen Huang&#8217;s Company Needs To Gain By Wednesday</a>
Boeing Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares traded lower by 3.41%, closing at $149.37. The company is facing a potential credit downgrade due to strike risks and complicated finances. A protracted strike by the company&#8217;s machinist union has <a href="https://www.benzinga.com/news/24/10/41257179/boeing-shares-are-trading-lower-wednesday-what-you-need-to-know">disrupted production</a> schedules and is anticipated to cost Boeing over $1 billion per month.
Celsius Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>) shares traded higher by 6.16%, closing at $30.51. The stock has become a favorite among retail investors and chatter on social media revolved around the stock reaching key support levels and <a href="https://www.benzinga.com/news/24/10/41261919/what-happened-with-celsius-holdings-stock-today">bouncing higher</a>.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares traded lower by 1.41%, closing at $241.05. The company&#8217;s upcoming unveiling of its dedicated robotaxi product is the first step towards unlocking a multi-trillion dollar market, according to Ark Invest analyst Tasha Keeney. She expects Tesla's upcoming robotaxi unveil and subsequent launch of its autonomous ride-hailing platform to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41247281/teslas-robotaxi-platform-could-account-for-90-of-ev-giants-enterprise-value-over-th">dominate Tesla's valuation</a>, nearing about 90% of its enterprise value over the next five years.
Photo by Phongphan on Shutterstock
Prepare for the day&#8217;s trading <a href=""Premarket">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41243108/peter-schiff-encourages-microstrategy-founder-micheal-saylor-to-borrow-another-4-3b-to-buy?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Encourages MicroStrategy Founder Micheal Saylor To &#8216;Borrow&#8217; Another $4.3B To Buy Bitcoin That US Plans To Sell: &#8216;Once In A While, The Government Does Something Smart&#8217;</a>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

CELH

COST

PLTR

Palantir, Costco, Boeing, Celsius Holdings, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

As Hurricane Milton barrels <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41254312/hurricane-milton-descends-on-florida-analysts-warn-of-impact-on-disney-nexteras-flo">through Florida&#8217;s west coast</a> with 120 mph winds, the importance of being prepared has never been clearer.
If you&#8217;re in the Tampa or St. Petersburg areas, where extremely dangerous winds are now spreading, sheltering in place is essential. But what happens if you lose mobile or Wi-Fi coverage during this intense storm?
Here's how Emergency SOS via satellite on your iPhone can be a crucial lifeline in case traditional communication methods fail.
With the possibility of multi-vortex tornadoes and storm surges adding to the danger, now is the time to make sure your iPhone is ready.
How To Prepare Your iPhone For Emergency SOS via Satellite
Step I: Set Up Medical ID and Emergency Contacts
Before the storm hits full force, take a few minutes to update your Medical ID and emergency contacts in the Health app. In case of an emergency, these will be shared with responders, ensuring they have critical information if you're unable to communicate.
Step II: Try The Satellite Demo
Familiarize yourself with the Emergency SOS feature by trying the built-in demo. This will show you how to position your iPhone to connect to a satellite, a crucial skill if you're stuck without a signal during the storm.
Settings > Emergency SOS > scroll down and tap Try Demo.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="490" height="1008" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09223256/4d400fb525035fd4800c64de4b9695b8.png" alt="" class="wp-image-588643" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09223256/4d400fb525035fd4800c64de4b9695b8.png 490w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09223256/4d400fb525035fd4800c64de4b9695b8-146x300.png 146w" sizes="(max-width: 490px) 100vw, 490px" /><figcaption class="wp-element-caption">Source: Apple</figcaption></figure>
Step III: Charge Your iPhone
Make sure your phone is fully charged and keep a portable battery pack handy. Emergency SOS via satellite will require enough battery power to send crucial information to responders, and the last thing you want is a dead phone in a crisis.
See Also: <a href="https://www.benzinga.com/news/24/10/41242624/elon-musk-vows-to-defend-freedom-of-speech-but-within-the-boundaries-of-the-law-as-x-gets-brazil-gre?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Vows To Defend Freedom Of Speech, But &#8216;Within The Boundaries Of The Law&#8217; As X Gets Brazil Greenlight To Resume Operations</a>
How To Use Emergency SOS via Satellite
Step I: Always try calling emergency services first, even if there's no coverage.
Step II: If the call doesn't go through, tap "Emergency Text via Satellite." Follow the on-screen prompts to answer a few quick questions about your situation.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="760" height="920" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09214728/ios-17-iphone-14-pro-phone-no-connection-emergency-text.png" alt="" class="wp-image-588622" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09214728/ios-17-iphone-14-pro-phone-no-connection-emergency-text.png 760w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09214728/ios-17-iphone-14-pro-phone-no-connection-emergency-text-248x300.png 248w" sizes="(max-width: 760px) 100vw, 760px" /><figcaption class="wp-element-caption">Source: Apple</figcaption></figure>
Step III: Your iPhone will guide you on how to position it to connect with a satellite. Once connected, your location, medical information, and the nature of your emergency will be shared with emergency responders.
Step IV: You can also choose to alert your emergency contacts and share your location and emergency details with them.
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.
Why It Matters: Apple&#8217;s satellite messaging feature has also emerged as a crucial lifeline for survivors in the <a href="https://www.benzinga.com/markets/equities/24/09/41096388/hurricane-helene-102-dead-2-million-without-power-after-storm-destruction-in-6-states">aftermath of Hurricane Helene</a>.
<a href="https://www.benzinga.com/news/24/07/39768442/6-new-hidden-iphone-features-you-probably-havent-discovered-yet-on-ios-18">Introduced via the</a> iOS 18 update, the Messages via Satellite feature for iPhone 14 and later models allows users to stay connected even when they're off the grid without cellular or Wi-Fi coverage.
However, this messaging feature is only for non-emergency contacts. You can <a href="https://www.benzinga.com/news/24/09/41108345/apples-satellite-messaging-feature-emerges-as-lifeline-after-hurricane-helene-leaves-thousands-witho">read about the feature here</a>.
Both the features are free of cost for two years after activiating.
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:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/41042433/elon-musks-x-suspends-5-3m-accounts-flags-10-6m-posts-in-first-transparency-report-amid-user-and-adv?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk's X Suspends 5.3M Accounts, Flags 10.6M Posts In First Transparency Report Amid User And Advertiser Decline</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Comments

Zai Lab

Noticias

Últimas noticias sobre Zai Lab (OTC:ZAILF) Bolsa

Noticias

SOCIO/CONTRIBUIDOR

BENZINGA GLOBAL