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First Bitcoin Capital Corp is a public company. It is the vertically integrated, publicly-traded Bitcoin entity to enter the lucrative crypto-currency space. First Bitcoin is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. The company is developing a beta e-commerce marketplace (BITessentials.com) which already accepts a variety of digital currencies by partnering with GoCOIN.com.

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Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) has introduced a new AI model, QwQ-32B-Preview, which is positioned as a competitor to Microsoft Corp.-backed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) OpenAI&#8217;s o1 <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">reasoning model</a>.
What Happened: Developed by Alibaba&#8217;s Qwen team, QwQ-32B-Preview boasts 32.5 billion parameters, enabling it to handle prompts up to 32,000 words.
This model is one of the few available under a permissive license, allowing for download and use, the company stated in a blog post on Thursday.
It reportedly outperforms OpenAI&#8217;s o1-preview and o1-mini models on specific benchmarks, such as the AIME and MATH tests. These tests evaluate AI models&#8217; performance in logic puzzles and math problems.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42169194/joby-gets-toyotas-500m-dollar-lift-evtol-pioneer-making-new-highs?itm_source=parsely-api">Joby Gets Toyota&#8217;s $500M Dollar Lift: eVTOL Pioneer Making New Highs</a>
Despite its strengths, QwQ-32B-Preview has limitations. Alibaba acknowledges potential issues like unexpected language switches and underperformance in tasks requiring common sense reasoning.
The model&#8217;s reasoning capabilities allow it to fact-check itself, reducing errors but increasing solution time.
QwQ-32B-Preview is available on the AI development platform Hugging Face.
However, only certain components are released, limiting full replication or insight into its workings. The model&#8217;s responses align with Chinese regulatory standards, avoiding politically sensitive topics.
The development was first <a href="https://techcrunch.com/2024/11/27/alibaba-releases-an-open-challenger-to-openais-o1-reasoning-model/">spotted</a> by TechCrunch.
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: The introduction of Alibaba&#8217;s QwQ-32B-Preview comes at a time when OpenAI is making significant strides in the AI sector. Last month, OpenAI&#8217;s valuation <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">soared to $157 billion </a>following a successful funding round.&nbsp;
Earlier this week, it was reported that SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) has increased its stake in OpenAI through a <a href="https://www.benzinga.com/markets/equities/24/11/42227972/softbank-secures-bigger-openai-stake-with-1-5b-employee-share-buyout-report">$1.5 billion employee share buyout</a>.
OpenAI is also reportedly exploring the <a href="https://www.benzinga.com/markets/24/11/42130303/chatgpt-parent-openai-considers-building-its-own-web-browser-to-challenge-googles-search-monopoly-following-doj-push-to-break-up-chrome-dominance">development of its own web browser</a> to challenge Alphabet Inc. (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>) subsidiary Google&#8217;s Chrome browser, following a push from the U.S. Department of Justice to divest it.
Price Action: Currently, Alibaba shares are up 0.27% to $86.82 in pre-market trading on Friday, following a 1.66% rise to $86.59 during Wednesday&#8217;s regular session, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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/24/11/42053396/why-chinese-tech-giants-alibaba-bytedance-and-meituan-are-expanding-their-ai-footprints-in-silicon-valley-amid-us-efforts-to-block-progress?itm_source=parsely-api">China&#8217;s Tech Giants Alibaba, ByteDance, And Meituan Are Expanding Their Silicon Valley AI Footprints Amid US Efforts To Block Progress: Here&#8217;s Why</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

News

Tech

BABA

GOOG

GOOGL

MSFT

SFTBF

Alibaba's New AI Model Outperforms OpenAI's o1 In Specific Benchmarks, Now Available For Free Download

BWLP

BW LPG Says It Takes Delivery Of Vessel BW Levant From Avance Gas; Five Of The 12 VLGCs Are Now Delivered

Macro Economic Events

Econ #s

Economics

Eurozone Consumer Price Index (YoY) Preliminary For November 2.3% Vs. 2.3% Est.; 2.0% Prior

Eurozone Consumer Price Index (MoM) Preliminary For November -0.3% Vs. 0.3% Prior

Eurozone Core Consumer Price Index (YoY) Preliminary For November 2.7% Vs. 2.8% Est.; 2.7% Prior

Germany Unemployment Rate For November Unchanged At 6.1%

Germany Unemployment Change For November 7K Vs. 20K Est.; 27K Prior

Tesla Inc. CEO Elon Musk endorsed Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) latest health technology innovation, responding &#8220;This is cool&#8221; to CEO Tim Cook&#8216;s announcement of AirPods Pro 2&#8217;s <a href="https://www.benzinga.com/news/24/09/40786879/apples-airpods-pro-2-bring-clinical-grade-hearing-aid-without-the-stigma-or-high-cost-heres-what-peo">new hearing aid capabilities</a>.
What Happened: Cook had shared his pride in Apple&#8217;s teams developing &#8220;powerful technologies that are improving people&#8217;s lives,&#8221; specifically highlighting the AirPods Pro 2&#8217;s personalized hearing aid feature. This development comes as Apple transforms its popular wireless earbuds into <a href="https://www.benzinga.com/news/24/09/40786879/apples-airpods-pro-2-bring-clinical-grade-hearing-aid-without-the-stigma-or-high-cost-heres-what-peo">clinical-grade hearing assistance devices</a>.
The new functionality addresses a significant global health challenge, with the World Health Organization estimating that 1.5 billion people worldwide suffer from hearing loss. Traditional prescription hearing aids typically cost between $2,000 and $7,000, making them <a href="https://www.benzinga.com/news/24/09/40786879/apples-airpods-pro-2-bring-clinical-grade-hearing-aid-without-the-stigma-or-high-cost-heres-what-peo">inaccessible to many potential users</a>.
Apple&#8217;s comprehensive hearing health solution includes active hearing protection, an at-home hearing test, and hearing aid capabilities that adjust sound in real time based on personalized hearing profiles.
<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">This is cool
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1862332184645779458?ref_src=twsrc%5Etfw">November 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/24/11/42237670/meta-tiktok-snapchat-could-face-32m-fines-as-australia-enforces-social-media-ban-for-under-16s-while-exempting-youtube">Meta, TikTok, Snapchat Could Face $32M Fines As Australia Enforces Social Media Ban For Under-16s</a>
Why It Matters: The features are awaiting marketing authorization from health authorities, including the U.S. Food and Drug Administration, and are expected to launch <a href="https://www.benzinga.com/news/24/09/40786879/apples-airpods-pro-2-bring-clinical-grade-hearing-aid-without-the-stigma-or-high-cost-heres-what-peo">this fall in over 100 markets</a>.
This development <a href="https://www.benzinga.com/news/22/11/29780663/apple-airpods-pro-as-hearing-aids-it-may-be-closer-than-you-think">builds on earlier research</a> published in iScience journal, which found that AirPods Pro met four out of five standards for personal sound amplification products. 
The AirPods line remains crucial to Apple&#8217;s wearables segment, which generated $9.04 billion in <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">fiscal fourth-quarter revenue</a>. 
While Apple maintains its leadership in the true wireless stereo market with a 17% share, this represents a significant decrease from its 48.1% share in 2019, reflecting <a href="https://www.benzinga.com/tech/24/11/42182829/apple-could-keep-airpods-max-headphones-around-without-meaningfully-updating-them-says-analyst-heres-why">increased competition in the space</a>.
The innovation comes as Apple continues to dominate the tech sector, with the company reporting overall fiscal fourth-quarter revenue of $94.9 billion, <a href="https://www.benzinga.com/tech/24/11/42182829/apple-could-keep-airpods-max-headphones-around-without-meaningfully-updating-them-says-analyst-heres-why">exceeding analyst expectations</a> and demonstrating strong performance across its product ecosystem.
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.
Read Next:
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<li><a href="https://www.benzinga.com/news/global/24/11/42238773/cathie-wood-sees-tesla-as-largest-ai-project-on-earth-heres-why-shes-not-worried-about-tech-investments">Cathie Wood Sees Tesla As &#8216;Largest AI Project On Earth&#8217; — Here&#8217;s Why She&#8217;s Not Worried About Tech Investments</a></li>
</ul>
Image Via Shutterstock 
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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Equities

AAPL

Elon Musk Lauds Apple AirPods Pro 2's Hearing Aid Feature As Tim Cook Highlights The Affordable Solution To What Otherwise Costs Up To $7,000

HC Wainwright &amp; Co. analyst Douglas Tsao reiterates Outlook Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTLK#NASDAQ">OTLK</a>) with a Buy and maintains $30 price target.

Price Target

Reiteration

Analyst Ratings

OTLK

HC Wainwright & Co. Reiterates Buy on Outlook Therapeutics, Maintains $30 Price Target

HC Wainwright &amp; Co. analyst Emily Bodnar reiterates Agenus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGEN#NASDAQ">AGEN</a>) with a Neutral and maintains $7 price target.

AGEN

HC Wainwright & Co. Reiterates Neutral on Agenus, Maintains $7 Price Target

Needham analyst James Ricchiuti reiterates 3D Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDD#NYSE">DDD</a>) with a Hold.

Needham Reiterates Hold on 3D Sys

Amid growing economic concerns, analysts are sounding alarms over the potential <a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">repercussions of tariffs </a>proposed by the incoming Trump administration. These tariffs, aimed at addressing trade imbalances, could inadvertently lead to a stronger dollar, affecting consumers and businesses alike.
Tariffs Could Hurt Customers
Adam Posen, president of the&nbsp;Peterson Institute for International Economics, highlighted that Trump&#8217;s economic strategies, including tariffs and tax cuts, are likely to elevate the dollar&#8217;s value during <a href="https://www.cnbc.com/video/2024/11/28/most-of-trumps-economic-plans-will-push-up-dollar-us-think-tank.html">CNBC&#8217;s</a> &#8220;Squawk Box Asia&#8221;&nbsp;on Thursday. This could result in a minimal reduction in the trade deficit, despite efforts to decrease it.
While it is unclear how these tariffs will affect the prices of goods, many companies are seeing signs of waning demand among buyers, the WSJ <a href="https://www.wsj.com/business/retail/trump-tariffs-warnings-retailer-sales-fc270ca9">reported</a> on Friday. Companies like Jolie Skin, and Home Furnishings are urging customers to buy their products before a possible hike in their prices once the tariffs kick in.
Earlier in October, billionaire investor&nbsp;Mark Cuban&nbsp;and Barack Obama-era Treasury Secretary&nbsp;Lawrence Summers warned that <a href="https://www.benzinga.com/markets/equities/24/10/41568486/mark-cuban-highlights-trumps-potential-to-ruin-christmas-but-he-might-also-end-up-spoiling-the-p">tariffs proposed by Trump</a>&nbsp;could significantly increase the cost of <a href="https://www.benzinga.com/news/24/10/41590247/trumps-trade-proposals-could-play-the-role-of-the-grinch-warns-obama-era-treasury-secretary-larry-su">Christmas holiday shopping</a> for American families.
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42206056/bitcoin-ethereum-dogecoin-tumble-as-diamond-hands-lock-in-gains-analyst-anticipates-strong-buyback-pressure-to-follow-sell-pressure?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Tumble As &#8216;Diamond Hands&#8217; Lock In Gains: Top Analyst Anticipates BTC Rebound</a>
Corie Barry, CEO of&nbsp;Best Buy Co. Inc., warned that the burden of tariffs would likely translate into higher consumer prices, as <a href="https://fortune.com/2024/11/27/ceos-warning-trump-tariffs-will-raise-prices-for-consumers-best-buy/">reported</a> by the Fortune.
Jesper Brodin, CEO of&nbsp;Ingka Group, which owns&nbsp;Ikea, echoed the sentiments while talking to <a href="https://edition.cnn.com/2024/11/27/business/ikea-prices-trump-tariffs-intl/index.html">CNN </a>and mentioned that high tariffs have historically not been beneficial, complicating efforts to keep prices low for consumers. 
"Tariffs make it more difficult for us to maintain the low prices and be affordable for many people, which in the end is our goal," Brodin said.
Trump recently declared his intention to impose a <a href="https://www.benzinga.com/government/regulations/24/11/42213610/hasbro-best-buy-brace-as-trumps-tariffs-loom-could-retail-margins-hit-rock-bottom">25% tariff on goods</a> from Mexico and Canada, citing border security concerns. He also announced additional tariffs on Chinese imports to address the flow of fentanyl into the U.S.&nbsp;
Stronger Dollar Might Not Help That Much With Deficit
Commodities like oil, timber, and metals are often priced in U.S. dollars. When the dollar strengthens, these goods become more expensive in other currencies. As a result, the rising costs of energy and raw materials contribute to higher prices for a wide range of products, driving inflation worldwide.
A stronger domestic currency &#8211; in this case, the U.S. dollar &#8211; usually helps in making imports cheaper and exports more expensive, assuming other conditions remain the same. However, in some cases, suppliers and sellers might pass on some of the increase in their input costs to the buyer &#8211; in this case, their customers in the U.S.
Even so, Posen says a stronger dollar could still not prove to be enough to help bridge the trade deficit.
&#8220;The main point is that even if you push up tariffs and you are trying to reduce the trade deficit, when you do so you tend to push up the dollar,&#8221; said Posen.
&#8220;If you cut taxes and you don&#8217;t fund it fully with other other revenues or other spending cuts, you tend to push up the dollar. If you are busy creating global uncertainty, which is a stated strategic tool of this incoming administration, you tend to push up the dollar.&#8221;
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42196217/will-gamestop-amc-follow-microstrategy-rumble-into-bitcoin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Will GameStop, AMC Follow MicroStrategy, Rumble Into Bitcoin?</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: Anna Moneymaker via Shutterstock

Analyst Color

General

Trump Tariffs Could Hit Pockets Of Consumers, Retailers Urge Customers To Shore Up Purchases: Experts Warn A Stronger Dollar Might Still Not Make Up For Deficit

Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) could emerge as a more attractive investment option compared to Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) as <a href="https://www.benzinga.com/24/11/42227834/cathie-wood-buys-amazon-amd-stock-trims-palantir-block-holdings-amid-ai-and-bitcoin-euphoria">the artificial intelligence chip market evolves</a>, according to a new analysis from Trefis Team released Wednesday.
What Happened: While Nvidia has dominated the AI chip market with its stock surging 180% this year to reach a market capitalization of $3.5 trillion, its premium valuation of 48 times projected fiscal 2025 earnings could limit future gains. AMD, trading at a more modest 28 times forward earnings, offers investors exposure to AI growth at a more reasonable entry point.
The analysis highlights several factors potentially working in AMD&#8217;s favor. A key shift is occurring in the AI market from model training to inference &#8211; the process of generating outputs from trained models. AMD&#8217;s MI300X chip has demonstrated strong performance in inference tasks, competing effectively with Nvidia&#8217;s H100 GPU according to MLCommons benchmark testing.
This competitive position is translating into significant business opportunities. IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) recently announced plans to offer AMD&#8217;s MI300X AI processors on its cloud services in the first half of 2025, signaling growing market acceptance.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42237636/bitcoin-ethereum-dogecoin-simmer-down-on-thanksgiving-analyst-sees-significant-shift-from-btc-season-to-alt-season">Bitcoin, Ethereum, Dogecoin Simmer Down On Thanksgiving: Analyst Sees &#8216;Significant Shift&#8217; From BTC Season To Alt Season</a>
Why It Matters: Cost considerations are also becoming increasingly important for customers. With Nvidia&#8217;s GPUs priced above $25,000 each, companies are seeking more affordable alternatives. Oracle Corp&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) recent selection of AMD chips for its AI supercluster, citing strong performance at competitive prices, exemplifies this trend.
AMD&#8217;s financial performance supports the positive outlook. The company&#8217;s data center segment <a href="https://www.benzinga.com/news/earnings/24/10/41612007/amd-q3-earnings-revenue-beat-eps-in-line-data-center-up-122-significant-growth-opportunities-ahead-">reported $3.5 billion in third-quarter sales</a>, marking a 118% increase year-over-year. 
&#8220;While the AI revolution is possibly just getting started, investors will need to pick the right winners to continue profiting from this trend,&#8221; noted the Trefis analysis. &#8220;Specifically, we think it might be time to reconsider Nvidia stock and look closely at AMD.&#8221;
The stock has shown significant volatility, with annual returns ranging from -55% in 2022 to 128% in 2023, but has delivered overall gains of 1,112% since 2017, substantially outperforming the S&amp;P 500&#8217;s 167% return over the same period.
Trefis&#8217;s High-Quality portfolio, comprising 30 stocks, has outperformed the S&amp;P 500, growing a $100,000 investment to over $190,000 since its launch in September 2020.
According to <a href="https://www.benzinga.com/quote/AMD/analyst-ratings">Benzinga Pro data</a>, AMD has a consensus price target of $195.77, with the highest target at $265 and the lowest at $145. Recent analyst ratings from Benchmark, Citigroup, and TD Cowen suggest an almost 43% upside from the current price.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/29032556/Screenshot-2024-11-29-at-1.54.13%E2%80%AFPM-1024x377.png" alt="" class="wp-image-669623" /></figure>
Read Next: 
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<li><a href="https://www.benzinga.com/news/global/24/11/42238773/cathie-wood-sees-tesla-as-largest-ai-project-on-earth-heres-why-shes-not-worried-about-tech-investments">Cathie Wood Sees Tesla As &#8216;Largest AI Project On Earth&#8217; — Here&#8217;s Why She&#8217;s Not Worried About Tech Investments</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

NVDA

ORCL

AMD Stock Could Trump Nvidia As AI Chip Market Evolves, Says Analyst: 'Time To Reconsider' The Right Winners To 'Continue Profiting'

Donald Trump&#8216;s second administration is under the microscope for potential conflicts of interest due to the business ties of several cabinet nominees. Ethics experts are sounding alarms over the implications of appointing wealthy business figures to key government positions.
What Happened: Concerns are mounting that these appointments could blur the lines between&nbsp;business interests and government policy, the&nbsp;Financial Times <a href="https://www.ft.com/content/be99aeda-24f1-4b3f-9eaa-c62b7025773c">reported</a> on Friday. 
See Also:&nbsp;<a href="https://www.benzinga.com/general/education/24/11/42204590/trump-department-of-homeland-security-pick-kristi-noem-owns-ranch-invests-in-energy-gets-book-royalties?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Department Of Homeland Security Pick Kristi Noem Owns Ranch, Invests In Energy, Gets Book Royalties</a>
Trump&#8217;s cabinet, potentially the wealthiest in history, includes nominees like hedge fund manager&nbsp;Scott Bessent&nbsp;for Treasury Secretary,&nbsp;Cantor Fitzgerald&nbsp;CEO Howard Lutnick&nbsp;for Commerce Secretary, and&nbsp;Liberty Energy CEO Chris Wright&nbsp;for Energy Secretary. Tesla CEO Elon Musk is also a close adviser to the president-elect. 
Critics argue that the intersection of business and government in Trump&#8217;s administration could be more complicated than in previous administrations, potentially undermining government ethics standards. 
Walter Shaub, the former head of the Office of Government Ethics, a federal agency, said, "We are looking at potentially the greatest ethics cataclysm in the history of our government.&#8221;
Why It Matters: The formation of the Department of Government Efficiency, led by&nbsp;Musk&nbsp;and&nbsp;Vivek Ramaswamy, has been criticized by Clinton-era official&nbsp;Robert Reich&nbsp;as potentially being <a href="https://www.benzinga.com/politics/24/11/41962372/trumps-doge-with-musk-at-the-helm-riddled-with-conflicts-of-interest-says-clinton-era-official-robert-reich">&#8220;riddled with conflicts of interest.&#8221;</a> Reich expressed skepticism about the department&#8217;s true purpose, suggesting it might serve as a &#8220;quid-pro-quo&#8221; arrangement.
Meanwhile, Trump&#8217;s pick for U.S. Treasury Secretary Bessent is known <a href="https://www.benzinga.com/government/regulations/24/11/42150805/trump-picks-hedge-fund-exec-scott-bessent-as-treasury-secretary-what-president-elects-choice-means-for-americas-economic-future">for his support of gradual tariffs</a> and deregulation, aligning with Trump's economic vision, which includes reviving manufacturing and achieving energy independence. Despite Musk's support for Howard Lutnick, <a href="https://www.benzinga.com/etfs/24/11/42044642/trump-appears-frustrated-as-elon-musk-chimes-in-on-treasury-secretary-adds-more-names-to-a-list-of-potential-picks" target="_blank" rel="noreferrer noopener">Trump favored Bessent's</a> business-as-usual approach.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/general/education/24/11/42171604/trumps-department-of-education-secretary-pick-linda-mcmahon-owns-tko-stock-thanks-to-famous-wrestling-past?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Department Of Education Secretary Pick Linda McMahon Owns TKO Stock Thanks To Famous Wrestling Past</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/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Politics

Trump White House Picks, Including Elon Musk And Scott Bessent, Spark Conflict Of Interest Concerns: 'Potentially The Greatest Ethics Cataclysm In The History Of Our Government'

Operational Highlights
<ul>
<li>Total number of stores on group level&nbsp;was 7,420&nbsp;as of September 30, 2024, an increase of 859&nbsp;net new stores in the first nine months of 2024.</li>
<li>Number of&nbsp;MINISO stores&nbsp;was 7,186&nbsp;as of September 30, 2024, an increase of 773 net new stores in the first nine months of 2024.</li>
</ul>
-Number of MINISO stores in mainland China was&nbsp;4,250&nbsp;as of September 30, 2024, a net increase of 324&nbsp;in the first nine months of 2024, compared to 3,926 as of December 31, 2023.
-Number of MINISO stores in overseas markets was 2,936&nbsp;as of September 30, 2024, a net increase of&nbsp;449&nbsp;in the first nine months of 2024, compared to 2,487 as of December 31, 2023.
<ul>
<li>Number of TOP TOY stores was 234&nbsp;as of September 30, 2024, with a record opening of 86&nbsp;net new stores in the first nine months of 2024.</li>
</ul>

MNSO

MINISO'S Total Number Of Stores On Group Level Was 7,420 As Of September 30, 2024, An Increase Of 859 Net New Stores In The First Nine Months Of 2024

MINISO Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NYSE">MNSO</a>) reported quarterly earnings of RMB2.20 per share which missed the analyst consensus estimate of RMB2.21 by 0.45 percent. This is a 7.84 percent increase over earnings of RMB2.04 per share from the same period last year. The company reported quarterly sales of RMB4.522 billion which missed the analyst consensus estimate of RMB4.609 billion by 1.88 percent. This is a 19.28 percent increase over sales of RMB3.791 billion the same period last year.

Earnings

Earnings Misses

MINISO Group Holding Q1 2025 Adj. EPS RMB2.20 Misses RMB2.21 Estimate, Sales RMB4.522B Miss RMB4.609B Estimate

GPRK

GeoPark Inks Binding Agreement To Acquire Repsol's 45% Stake In CPO-9 And 25% In Llanos Norte Oil Projects In Colombia

Through this acquisition, we will expand our maintenance business in Norway and further strengthen our business foundation by promoting a strategy aimed at increasing our elevator maintenance stock in the European market, where we anticipate continued growth in demand for maintenance and renewal.

MIELY

Mitsubishi Electric Enhances European Elevator And Escalator Business Through Acquisition Of ALT Heis

<h3>Companies Reporting Before The Bell</h3>
• MINISO Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NYSE">MNSO</a>) is likely to report quarterly earnings at $0.33 per share on revenue of $659.09 million. 
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Scheduled For November 29, 2024

<ul>
<li>Wearable robot 'X-ble Shoulder' to boost industrial efficiency and reduce musculoskeletal injuries</li>
<li>Designed to assist overhead work by enhancing upper arm muscle strength, expected to find use in various industries</li>
<li>The strong yet lightweight X-ble Shoulder enhances worker comfort by reducing shoulder load by 60% and muscle activity by 30%</li>
<li>Hyundai Motor and Kia's Robotics LAB announced commercialization plan for X-ble Shoulder, expected to begin deliveries in first half of 2025</li>
</ul>

HYMTF

Reported Wednesday, Hyundai And Kia To Debut 'X-ble Shoulder' In 2025, Cutting Muscle Activity And Enhancing Worker Comfort For Overhead Tasks

Keep Calm And Buy Bitcoin

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First Bitcoin Capital

European banks are stockpiling bitcoin as a hedge against ransomware attack, driving the virtual currency up 200 percent this year, The Street&rsquo;s Jim Cramer said, quoting a panel talk with the CEO of Citrix Systems, Inc. (NASDAQ:<a class="ticker" href="/stock/CTXS#NASDAQ">CTXS</a>).
&ldquo;Bitcoin is what the bad guys demand you pay if you have a cybersecurity breach,&rdquo; <a href="http://www.thestreet.com/video/14166290/citrix-ceo-companies-are-buying-bitcoin-in-case-of-ransomware.html">Cramer said</a>. &ldquo;The European banks...European companies are buying bitcoin to be ready for the next ransom attack.&rdquo;
The &ldquo;WannaCry&rdquo; outbreak was unleashed on the world on May 12, when bitcoin was $1,697; It&#39;s now trading at $2,826.
<h3>
	Bitcoin Boom Mainly Coming In Europe, Hit Hardest By WannaCry</h3>
The worst attack of ransomware on record has largely abated -- at least until next time -- and there&rsquo;s evidence only a <a href="https://www.elliptic.co/wannacry/">relative handful</a> of people or institutions paid up to have their data freed from the malware&rsquo;s encrypted jail.
Among the computers affected worldwide were those integral to Britain&rsquo;s National Health Service. A tech-savvy Samaritan found a fix that was widely deployed, but cyberattack experts warned that the next round of ransomware <a href="https://www.benzinga.com/news/17/05/9496220/the-blame-game-the-definitive-guide-to-whos-at-fault-for-the-ransomware-cyberatta">could be worse</a>.
The link between the bitcoin boom and the WannaCry malware surfaced at The Deal&#39;s Corporate Governance Conference on Monday in New York, when Cramer spoke with Citrix CEO Kirill Tatarinov about the recent ransomware attacks.
Tatarinov said that companies are buying up bitcoin to pay off the hackers in the case of an attack.
&rdquo;These cyber attackers have customer service desks,&rdquo; to handle payment, Cramer said on CNBC. &ldquo;They give you an 800 number.&rdquo;
He said the digital currency could reach $1 million.
Experts generally warn against paying ransom.
&ldquo;In general, any kind of extortion is problematic to pay. Not only does it encourage the people (who spread the worm) but there is no guarantee that they are going to return the data,&rdquo; Eugene H. Spafford, executive director of Purdue University&#39;s Center for Education and Research in Information Assurance and Security, told Benzinga.
Related links:
<a href="https://www.benzinga.com/news/17/05/9496220/the-blame-game-the-definitive-guide-to-whos-at-fault-for-the-ransomware-cyberatta">The Blame Game: Who&rsquo;s At Fault For Ransomware</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/05/9544533/is-bitcoin-one-giant-bubble-waiting-to-burst">Is Bitcoin One Big Bubble Waiting To Burst?</a>

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