Latest news for Conduit Capital (OTC:CNCPF) Stock

Conduit Capital Ltd is a South Africa-based investment holding company. The company, through its subsidiaries and associates, carries on business in the financial services industry with a focus on insurance. It serves in two segments: Insurance and Risk, and Investment . The Insurance and Risk division includes the company's insurance interests. The company writes both short-term and long-term insurance business. The long-term business consists mainly of funeral cover, comprising both individual business and group schemes. Several lines of short-term business are written, providing cover to individuals and ensuring business risks. The main short-term lines of business include Guarantee, Liability, and Motor.

CONDUIT CAPITAL LTD ORD by Conduit Capital Ltd.

Conduit Capital Ltd

In a bid to expand their businesses, <a href="https://www.benzinga.com/topic/telecom">Japanese telecommunications giants</a> Nippon Telegraph and KDDI Corp. are venturing into space. They plan to build high-speed wireless networks in the stratosphere to link the Earth and the moon.
What Happened: NTT, Japan&#8217;s largest telecom carrier, announced on Jun. 3 that it will launch an &#8220;airborne base station&#8221; on a commercial basis by 2026, <a href="https://www.asahi.com/ajw/articles/15294036">reported</a> The Asahi Shimbun. 
This initiative is part of the NTT C89 orbital development program, which includes the installation of a high-altitude platform station (HAPS) &#8211; an unmanned aircraft equipped with a repeater that can communicate directly with smartphones.
Masayoshi Son-led SoftBank Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFBQF#OTC">SFBQF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) is also working on the development and commercialization of a HAPS, along with plans to offer a foreign-affiliated satellite-based telecom service in Japan.
NTT Docomo Inc., a mobile carrier, plans to invest up to $100 million in AALTO HAPS Ltd., an affiliate of Airbus SE, to build the aircraft. This commercialization will mark the world&#8217;s first realization of such an initiative.
KDDI also disclosed its space business strategies in May, intending to establish a telecom network between Earth and the moon by 2028. The company aims to create a high-speed 5G communications environment on the moon by 2030.
"Telecommunications means will be essential when mankind arrives on the moon, although we have no immediate intention of monetizing our initiatives on the lunar surface," explained Hiromichi Matsuda, a KDDI Managing Executive Officer. "We will be extending our support."
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39658172/peter-schiff-says-smart-money-is-selling-and-dumb-money-is-buying-it-through-etfs-they-set?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Says &#8216;Smart Money Is Selling&#8217; And Dumb Money Is Buying It Through ETFs: &#8216;They Set Up Bitcoin</a>
Why It Matters: The Japanese telecom companies&#8217; foray into space comes when the global space industry is experiencing rapid growth. <a href="https://www.benzinga.com/news/24/06/39395671/weeks-after-elon-musk-launched-it-indonesias-telecom-industry-voices-concerns-over-starlink-services">Indonesia&#8217;s telecom industry</a> has already voiced concerns over the entry of Elon Musk&#8216;s Starlink, calling for a temporary halt to the company&#8217;s services.
An estimate by U.S. financial services giant Morgan Stanley projects the global market for space businesses to reach $1 trillion by 2040, tripling its current size over the next 20 years, according to the report.
Meanwhile, SpaceX has <a href="https://www.benzinga.com/news/24/07/39633453/spacex-now-has-over-100-starlink-satellites-in-orbit-with-direct-to-cell-capabilities-t-mobile-users">over 100 Starlink satellites in orbit</a> with Direct to Cell capabilities, aiming to provide global access to texting, calling, and internet browsing using standard LTE phones. In March 2023, Finnish telecom major Nokia Oyj planned to send <a href="https://www.benzinga.com/news/23/03/31542443/elon-musks-spacex-and-nokia-are-linking-up-because-we-really-need-4g-on-the-moon">4G network equipment to the moon</a> aboard a SpaceX rocket.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39655101/peter-schiff-says-bitcoin-etf-buyers-hodling-amid-king-cryptos-plunge-but-warns-muc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Says Bitcoin ETF Buyers &#8216;HODLing&#8217; Amid King Crypto&#8217;s Plunge But Warns &#8216;Much Larger Drop &#8230;May Come As Soon As Next Week&#8217;</a></li>
</ul>
Photo by Nobuyuki Hayashi on 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>

News

SPACE

Global

Tech

KDDIY

NTTYY

SFBQF

SFTBF

Masayoshi Son-Led SoftBank, Other Japanese Telecom Giants Working On Establishing High-Speed Space Telecom Networks In Outer Space

Embattled aerospace company Boeing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) has agreed to plead guilty to <a href="https://www.benzinga.com/government/24/07/39625439/boeing-faces-high-stakes-decision-accept-plea-deal-or-risk-trial-over-737-max-safety-violations">criminal conspiracy to defraud</a> the U.S. by allegedly misleading the Federal Aviation Administration regarding the safety of its 737 MAX, a late-Sunday court filing by the Department of Justice said, according to media reports.
What Happened: Boeing has agreed to pay up to $487.2 million, the maximum allowed by law, in criminal fines following an agreement in principle with the Justice Department. A judge will determine the actual fine amount, the DOJ <a href="https://www.bloomberg.com/news/articles/2024-07-08/boeing-ba-to-plead-guilty-to-fraud-for-violating-deal-over-737-max-crashes?sref=chqhSVDW&amp;cmpid=socialflow-twitter-business&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;utm_medium=social&amp;utm_content=business">reportedly</a> said.
The agreement also requires Boeing to install a corporate monitor and spend at least $455 million to bolster its compliance and safety programs over the next three years. The implementation of the terms of the agreement is subject to court approval. The Arlington, Virginia-based company would also be subjected to three years of court-supervised probation.
A Boeing spokesperson confirmed the plea deal in an email reply to Benzinga. "We can confirm that we have reached an agreement in principle on terms of a resolution with the Justice Department, subject to the memorialization and approval of specific terms,&#8221; said Femke Baudoin, Communications Director Middle East, Türkiye &amp; Africa.
Paul Cassell. a law professor at the University of Utah who represents many family members of the 2018 Lion Air crash and 2019 Ethiopian Air crash victims, reportedly said, &#8220;This sweetheart deal fails to recognize that because of Boeing's conspiracy, 346 people died,&#8221; <a href="https://edition.cnn.com/2024/07/08/business/boeing-doj-criminal-charges/index.html">CNN</a> reported.
"This deceptive and generous deal is clearly not in the public interest.&#8221;
The families are reportedly seeking a public trial on the charges.
See Also: <a href="https://www.benzinga.com/money/best-aerospace-defense-stocks">Best Aerospace and Defense Stocks</a>
Why It&#8217;s Important: Boeing has found itself in trouble after 2 crashes involving its 737 Max aircraft in 2018 and 2019 killed 346 people. In Jan. 2021, the DOJ and Boeing announced an agreement to resolve the criminal charge related to a conspiracy to defraud the Federal Aviation Administration's Aircraft Evaluation Group. This agreement called for Boeing to pay a total criminal monetary amount of over $2.5 billion, composed of a penalty of $243.6 million, compensation payments to Boeing's 737 MAX airline customers of $1.77 billion, and the establishment of a $500 million crash-victim beneficiaries fund.
Just before the agreement was set to expire, Boeing suffered a setback after a fuselage panel blew off a 737 Max 9 jet operated by Alaska Airlines in early January. The DOJ said in May that the company breached the 2021 deferred prosecution agreement but the latter went onto defend itself, saying it <a href="https://www.benzinga.com/markets/equities/24/06/39307378/boeing-insists-on-adherence-to-legal-agreement-post-737-max-crashes-report">disagreed with the Justice Department&#8217;s charges.</a>
The guilty plea, though representing a low point in the company&#8217;s history, could help Boeing to leave the worst behind at a time it is facing strain in its finances and uncertainty regarding leadership, a Bloomberg report said.
Boeing ended Friday&#8217;s session up 0.28% to $184.83, according to<a href="https://benzinga.grsm.io/register174"> Benzinga Pro data.</a> The stock is down over 29% year-to-date and is among the worst-performing S&amp;P 500 stocks.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/03/37929869/quest-for-leadership-boeing-reportedly-eyes-outsider-as-ceo-to-tackle-crisis">Quest For Leadership: Boeing Reportedly Eyes Outsider As CEO To Tackle Crisis</a></li>
</ul>
Image created using AI via Dall-E

Politics

Markets

General

Boeing Strikes Plea Deal With DOJ For Defrauding US Regulator Over 737 MAX Safety: Victims' Lawyer Calls It 'Deceptive And Generous…Not In Public Interest'

Japanese investment firm Metaplanet Inc. doubled down on its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) investment even as the digital currency continues to bleed.&nbsp;
What Happened: The Tokyo Stock Exchange-listed company grabbed an additional 42.47 Bitcoins, according to a disclosure during Asian hours Monday. The purchase amounted to 400 million yen, worth nearly $2.5 million at Bitcoin's prevailing market price.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x2A;Metaplanet purchases additional 42.47 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>&#x2A; <a href="https://t.co/dPotWszW1Y">pic.twitter.com/dPotWszW1Y</a>
&mdash; Metaplanet Inc. (@Metaplanet_JP) <a href="https://twitter.com/Metaplanet_JP/status/1810148327654060441?ref_src=twsrc%5Etfw">July 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
With the latest grab, the firm's total Bitcoin holdings shot up to 203.73, worth 2.05 billion yen, or $15.56 million, making it Japan&#8217;s biggest corporate holder of the digital currency.
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39658404/spot-ethereum-etfs-could-launch-in-a-week-or-two-says-etf-analyst-nate-geraci-how-quickly-">Spot Ethereum ETFs Could Launch In A Week Or Two, Says ETF Analyst Nate Geraci: &#8216;How Quickly Will SEC Turn These Around?&#8217;</a>
Why It Matters: Metaplanet has embarked on a sustained push to add the world&#8217;s largest digital asset to its balance sheet.
The company adopted Bitcoin as a strategic treasury reserve asset in response to Japan&#8217;s economic woes, which has seen the national currency yen plunge sharply against the U.S. dollar.
These strategic investments mirror the actions of MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), a technology company that has taken the lead in purchasing Bitcoins as part of its reserve strategy.&nbsp;
Currently, MicroStrategy is the largest corporate owner of the digital asset, with holdings worth $12.53 billion at the time of writing.&nbsp;
Price Action: At the time of writing, Bitcoin is exchanging hands at $55,317.30, down 4.04% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39658640/tether-ceo-signals-investments-into-decentralized-ai-models-amid-openai-security-breach-th">Tether CEO Signals Investments Into Decentralized AI Models Amid OpenAI Security Breach: &#8216;The Only Way To Protect People&#8217;s Privacy…&#8217;</a></li>
</ul>

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

Cryptocurrency

$BTC

MSTR

Adopting A MicroStrategy-Like Strategy, Firm Listed On Tokyo Stock Exchange Buys $2.5M Worth of Bitcoin Amid Crypto Meltdown

Reported Late Friday, Silvercorp Metals Evaluates Litigation Risks In Adventus Mining Acquisition, Discusses Potential Deadline Extension

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk on Sunday denied rumors of hiring Uber Technologies co-founder Travis Kalanick to advise or head the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39654067/gary-black-raises-tesla-price-target-as-ex-ford-ceo-notes-irony-of-auto-driven-stoc">company&#8217;s robotaxi division</a>.
What Happened: &#8220;False,&#8221; Musk said about the rumors on social media platform X, formerly Twitter.
<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">False
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1809955175232073894?ref_src=twsrc%5Etfw">July 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
&#8220;All that matters is improving Tesla self-driving AI such that miles between interventions is >> human,&#8221; Musk said in another post about having pulled Kalanick into the Tesla universe.
<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">All that matters is improving Tesla self-driving AI such that miles between interventions is &gt;&gt; human
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1809973719546142860?ref_src=twsrc%5Etfw">July 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The rumors of Kalanick joining Tesla kicked off after Musk started <a href="https://www.benzinga.com/general/social-media/24/07/39598271/elon-musk-now-follows-uber-founder-on-x-foreshadowing-for-robotaxi-day-or-coincidence">following the Uber co-founder</a> on X last week despite the latter not posting anything since 2019. Some speculated that Kalanick might be roped into Tesla to spearhead its robotaxi division as the company gears to unveil its robotaxi product on Aug. 8.
Kalanick left his role as Uber CEO in 2017 and left its Board of Directors in 2019. The former Uber CEO is now CEO of&nbsp;City Storage Systems&nbsp;and runs the&nbsp;10100 Fund.
Why It Matters: During Tesla&#8217;s annual shareholder meeting in June, Musk said that Tesla&#8217;s robotaxi fleet will operate like a combination of Airbnb and Uber with Tesla owning a part of the fleet and Tesla owners being able to let their private vehicles join and exit the fleet at will. 
The robotaxi unveil is part of Musk&#8217;s efforts to turn Tesla from an automaker to an AI, robotics, and sustainable energy company and boost its value.
"While autonomous vehicle is a $5-$7 trillion market cap situation,&nbsp;<a href="https://www.benzinga.com/news/24/06/39327644/tesla-ceo-elon-musk-eyes-25-trillion-market-cap-with-optimus-bot-admits-to-being-pathologically-opti" target="_blank" rel="noreferrer noopener">Optimus is a $25 trillion market cap situation</a>," Musk said last month. 
He also said in April that dedicating to autonomous driving is a "blindly obvious move" for Tesla.
"Even if I got kidnapped by aliens tomorrow, Tesla&nbsp;will&nbsp;solve autonomy, maybe a little slower, but it would solve autonomy for vehicles at least,"&nbsp;<a href="https://www.benzinga.com/news/24/04/38397845/tesla-will-solve-autonomy-even-if-i-got-kidnapped-by-aliens-tomorrow-says-elon-musk-as-he-reveals-ta" target="_blank" rel="noreferrer noopener">Musk said</a>&nbsp;at the company&#8217;s first-quarter earnings call. "If somebody doesn't believe Tesla is going to solve autonomy, I think they should not be an investor in the company."
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39646347/tesla-hints-cybertruck-was-most-sold-ev-truck-in-us-in-q2-but-elon-musks-company-has-not-released-da" target="_blank" rel="noreferrer noopener">Tesla Hints Cybertruck Was Most Sold EV Truck In US In Q2, But Elon Musk's Company Has Not Released Data To Back It Up</a></li>
</ul>
Photos courtesy: Shutterstock and Wikimedia

TSLA

Elon Musk Denies Rumors Of Uber Co-Founder Travis Kalanick Joining Tesla To Lead Its Robotaxi Efforts

Macro Economic Events

Econ #s

Economics

Germany Trade Balance For May 24.B Vs. 19.9B Est.; 22.1B Prior

LDTC

Reported Late Friday, LeddarTech Secures Temporary Waiver On Credit Facility With Desjardins, Reduces Minimum Cash Covenant

SNDL

Reported Late Friday, SNDL Announces Stalking Horse Agreement To Acquire Indiva Limited's Business And Assets

Reported Late Friday, SNDL Acquires $28M Delta 9 Cannabis Debt, Becomes Senior Secured Creditor With Priority Interest In Assets

Reported Sunday, Motorola Solutions Opened New R&D Centre In Cork, Ireland, Creating 200 Highly Skilled Jobs

In June the Company mined 119 Bitcoin, increasing its Bitcoin holdings by&nbsp;2%, now totalling 2,496 Bitcoin on the balance sheet. HIVE maintained an average Bitcoin mining capacity of over 4.7 Exahash (&quot;EH/s&quot;) in June 2024 (all amounts in US dollars, unless otherwise indicated).

HIVE

Hive Digital Technologies Mined 119 Bitcoin In June 2024

Paolo Ardoino, the CEO of stablecoin issuing company Tether, expressed alarm over OpenAI's security breach, claiming that decentralized artificial intelligence models are the strongest defense against such attacks.&nbsp;
What Happened: The man at the helm of affairs of a company behind the world's most traded cryptocurrency, Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>), described the hack, the details of which were unearthed last week, as "scary."&nbsp;
<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">OpenAI seems to have been hacked a while ago. Scary. Locally executable AI models are the only way to protect people privacy and ensure resilience / independence. New generation smartphones and laptops are more than powerful enough to fine tune general LLMs with user&#39;s own…
&mdash; Paolo Ardoino &#x1f916;&#x1f350; (@paoloardoino) <a href="https://twitter.com/paoloardoino/status/1809690415895048259?ref_src=twsrc%5Etfw">July 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Ardoino lent his support to what he described as locally executable AI models, arguing that these are the "only way" to protect people's privacy and ensure resilience.
"New generation smartphones and laptops are more than powerful enough to fine-tune general large language models (LLMs) with user&#8217;s own data, preserving enhancements locally to the device," the CEO emphasized.&nbsp;
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39639117/crypto-billionaire-justin-sun-offers-to-buy-bitcoin-off-market-from-german-government-to-m">Crypto Billionaire Justin Sun Offers To Buy Bitcoin Off-Market From German Government To Minimize Price Impact, Lawmaker Slams Authorities For Selling</a>
Ardoino stated that the company was working toward creating decentralized, localized AI models. Note that <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39009768/tethers-next-big-bet-is-on-ai-says-ceo-paolo-ardoino">Tether has already made its plans clear to invest heavily</a> in AI technologies.&nbsp;
Why It Matters: Ardoino's views came following the <a href="https://www.benzinga.com/news/24/07/39646030/openais-design-details-stolen-by-hacker-in-2023-who-infiltrated-companys-messaging-system-report">sensational disclosure of a security breach</a> at the Sam Altman-founded firm last year. The executives withheld the news from going public because no customer or partner information had been compromised.
Tether CEO was another influential voice from the cryptocurrency industry to question the concentration of power in the AI industry.&nbsp;
In May, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) co-founder Vitalik Buterin also p<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38956759/no-7t-server-farms-plz-ethereum-creator-vitalik-buterin-thinks-openai-chief-sam-altmans-vi">ushed for an ecosystem of open models</a> running on consumer hardware rather than a few central servers controlled by a small cohort of conglomerates. 
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39658404/spot-ethereum-etfs-could-launch-in-a-week-or-two-says-etf-analyst-nate-geraci-how-quickly-">Spot Ethereum ETFs Could Launch In A Week Or Two, Says ETF Analyst Nate Geraci: &#8216;How Quickly Will SEC Turn These Around?&#8217;</a></li>
</ul>

$ETH

$USDT

Tether CEO Signals Investments Into Decentralized AI Models Amid OpenAI Security Breach: 'The Only Way To Protect People's Privacy…'

Reported Earlier, Australia Home Loans MoM -2.0% Vs. 2.0% Est.; 4.5% (Revised) Prior

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Current Account n.s.a. For May 2.850T Vs. 2.450T Est.; 2.051T Prior

Reported Earlier, Japan Adjusted Current Account For May 240.62T Vs. 2.07T Est.; 2.52T Prior

Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Watch Series 10 may <a href="https://www.benzinga.com/markets/equities/23/08/33810184/apple-eyes-splashy-upgrade-for-tenth-anniversary-edition-watch-after-minor-upgrade-with-series-9">not include&nbsp;blood pressure</a> monitoring and sleep&nbsp;apnea detection features.
What Happened: In his weekly &#8220;Power On&#8221; newsletter, Bloomberg columnist Mark Gurman reported that Apple has run into multiple issues while trying to incorporate these features into its 2024 models. 
The blood pressure monitoring function, which was designed to warn users of high blood pressure, has not met Apple&#8217;s stringent standards. Doubts have also been expressed about the feature&#8217;s compatibility with the new design of&nbsp;the Apple Watch Series 10.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/39569675/palantirs-peter-thiel-says-its-very-strange-that-most-money-in-ai-is-being-made-by-only-one-company?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir&#8217;s Peter Thiel Says It&#8217;s &#8216;Very Strange&#8217; That Most Money In AI Is Being Made By Only One Company:</a>
The&nbsp;sleep apnea function is being&nbsp;obstructed by a non-technical issue. <a href="https://www.benzinga.com/news/24/03/37724310/apple-watch-2-0-new-patents-hint-at-expansion-beyond-health-tracking-after-masimo-fiasco">Apple&#8217;s ongoing legal battle</a>&nbsp;with Masimo Corp over blood&nbsp;oxygen saturation detection technology has impeded the company&#8217;s ability to measure this vital statistic.
&#8220;Either Apple will resolve that issue by September or find a way to work around it (perhaps the company could argue that its oxygen reader can be used for purposes that aren't directly related to blood oxygen levels),&#8221; Gurman said, adding, &#8220;It also could announce the feature but not release it until a later date — or just delay it altogether.&#8221;
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: Another ambitious feature, <a href="https://www.benzinga.com/news/large-cap/23/09/34623127/apple-taps-seasoned-executive-to-head-secret-team-developing-glucose-monitoring-device-stocks-to-w">glucose monitoring</a>, has been under development for nearly a decade. The invasive nature of glucose monitoring which typically requires direct blood access has made it difficult for it to reach wrists.
However, Gurman has now noted that Cupertino has reached a significant milestone in this regard.
In the newsletter, the tech analyst also <a href="https://www.benzinga.com/news/24/07/39658101/apple-plans-plastic-casing-watch-se-to-take-on-samsung-galaxy-watch-fe-says-expert">reported that Apple is developing a new version</a> of its Watch SE with a plastic casing, likely to cut costs and compete with Samsung&#8217;s cheapest watch.
Photo by oasisamuel 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:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39657668/whats-new-in-the-consumer-tech-world-last-week-news-that-you-should-know-june-30-july-5-2024?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s New In the Consumer Tech World Last Week? News That You Should Know (June 30 &#8211; July 5, 2024)</a></li>
</ul>
Disclaimer:&nbsp;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.

Media

AAPL

Apple Watch Series 10 May Not Include Anticipated Health Features Like Blood Pressure Monitoring And Sleep Apnea Detection

Nate Geraci, president of The ETF Institute, predicted that Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based spot exchange-traded funds could launch within the next two weeks.&nbsp;
What Happened: Geraci, who actively tracks developments on cryptocurrency ETFs and shares updates on the same via his official X handle, hoped that modified S-1 filings would arrive on the SEC&#8217;s desk by Monday.&nbsp;
He wrote that from then on, the potential launch dates would be contingent on how soon the regulator does its verification and gives a go-ahead.&nbsp;
<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">Spot eth ETF S-1 amendments supposedly due tomorrow… How quickly will SEC turn these around? Again, main item I'm watching for is fees (which won't be required w/ these amendments). Otherwise, assume issuers gearing up for launch in next week or two.
&mdash; Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1810100442388422792?ref_src=twsrc%5Etfw">July 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In a dramatic turn of events, the SEC <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38995513/sec-approves-spot-ethereum-etfs-opening-door-for-mainstream-investors">approved 19b-4 forms for applications of Ether ETFs</a> in May, after weeks of negative sentiment. The SEC asked the ETF applicants to submit the revised S-1 registration statements, the final hurdle before the funds can start trading on U.S. exchanges, by July 8.
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39639117/crypto-billionaire-justin-sun-offers-to-buy-bitcoin-off-market-from-german-government-to-m">Crypto Billionaire Justin Sun Offers To Buy Bitcoin Off-Market From German Government To Minimize Price Impact, Lawmaker Slams Authorities For Selling</a>
Why It Matters: Geraci's forecast was in line <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39611356/spot-ethereum-etfs-could-arrive-by-mid-july-suggests-analyst-nate-geraci-theoretically-mea">with his previous estimate of a mid-July launch</a> last week.&nbsp;
The eventual launch of spot Ether ETFs could have significant implications for the cryptocurrency market since it would be the second such digital asset fund in the U.S. after the much-talked-about Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) spot ETFs that debuted in January.
Cryptocurrency exchange Gemini <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39597377/spot-ethereum-etfs-could-take-in-up-to-15b-in-2024-gemini-research">estimates net inflows of up to $5 billion within the first six months of trading</a> into Ether ETFs.
Photo Courtesy: Shutterstock
Price Action: At the time of writing, Ethereum is trading at $2,873.96, down 5.77% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39658292/dogecoins-market-slump-could-be-ending-suggests-analyst-the-worst-should-be-over-if-were-i">Dogecoin&#8217;s Market Slump Could Be Ending, Suggests Analyst: &#8216;The Worst Should Be Over If We&#8217;re In Line With Previous Cycles&#8217;</a></li>
</ul>

Spot Ethereum ETFs Could Launch In A Week Or Two, Says ETF Analyst Nate Geraci: 'How Quickly Will SEC Turn These Around?'

Wedbush analyst Dan Ives has strongly <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39654001/nvidia-gets-rare-downgrade-over-concerns-that-demand-is-normalizing-in-line-with-ex">opposed a recent downgrade</a> of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) by New Street Research, citing the AI revolution as a key factor.
What Happened: Ives expressed his disagreement with the negative assessment of Nvidia&#8217;s future prospects in a post on X. He emphasized that the AI revolution, led by Nvidia and its CEO Jensen Huang, is just beginning.
&#8220;We cannot disagree more with this negative Nvidia call as discussed on @LastCallCNBC last night as the AI Revolution is just starting in our view being led by Nvidia and the Godfather of AI Jensen in this 9 pm party,&#8221; wrote Ives.
<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">We cannot disagree more with this negative Nvidia call as discussed on <a href="https://twitter.com/LastCallCNBC?ref_src=twsrc%5Etfw">@LastCallCNBC</a> last night as the AI Revolution is just starting in our view being led by Nvidia and the Godfather of AI Jensen in this 9 pm party &#x1f525;&#x1f57a;&#x1f4fa;&#x1f402;&#x1f447; <a href="https://t.co/4mZx5shV4l">https://t.co/4mZx5shV4l</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1809665440534393283?ref_src=twsrc%5Etfw">July 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
New Street Research&#8217;s Pierre Ferragu downgraded Nvidia to neutral, citing concerns about the stock&#8217;s overvaluation. Ferragu noted that the demand for Nvidia&#8217;s products is in line with expectations, which led to the decision to downgrade the stock. &#8220;For the first time, we think Nvidia might not exceed expectations,&#8221; said Ferragu. 
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39655239/trump-accuser-stormy-daniels-says-ex-presidents-supporters-have-flooded-her-with-threats-since-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Accuser Stormy Daniels Says Ex-President&#8217;s Supporters Have Flooded Her With Threats Since His Conviction: &#8216;I&#8217;ve Lost &#8230; Mostly My Peace&#8217;</a>
Why It Matters: Nvidia&#8217;s stock has been on a rollercoaster ride recently. The company received a rare downgrade from New Street Research on Saturday, citing <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39654001/nvidia-gets-rare-downgrade-over-concerns-that-demand-is-normalizing-in-line-with-ex">concerns about the stock&#8217;s overvaluation</a>. The analyst expressed doubts about any additional upside, stating that it would only materialize in a bull case, which is not yet certain. He also warned of a potential risk of derating if the current outlook remains unchanged.
Despite the concerns, Ives has been a vocal advocate of Nvidia&#8217;s impact on the tech industry. He <a href="https://www.benzinga.com/news/24/07/39587744/nvidia-and-jensen-huang-fueling-tech-sector-boom-says-wedbush-analyst-dan-ives-for-every-1-spent-on">previously underscored</a> the significant influence of Nvidia&#8217;s expansion, stating that every dollar spent on the company&#8217;s chips generates $8 to $10 in the rest of the sector.
However, the stock has seen <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39650479/whats-going-on-with-nvidia-stock-on-friday">some turbulence recently</a>. In addition to the downgrade, European Union competition chief Margrethe Vestager highlighted a significant &#8220;bottleneck&#8221; in Nvidia AI chip supply.
Price Action: Nvidia Corp&#8217;s stock closed at $125.83 on Friday, marking a decline of 1.91% for the day. In after-hours trading, the stock further decreased 0.36%. Year to date, Nvidia has shown substantial growth, surging by 161.22%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/partner/emerging-markets/24/07/39615959/options-market-on-the-rise?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Options Market On The Rise</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>

Equities

Analyst Ratings

NVDA

Nvidia Downgrade By Pierre Ferragu's Newstreet Countered By Dan Ives: 'Cannot Disagree More…'

President Joe Biden has taken to X to accuse former President Donald Trump of lying about his involvement with the controversial &#8216;Project 2025&#8217;.
What Happened: On Sunday, Biden posted his criticism of Trump&#8217;s denial of any association with &#8216;Project 2025&#8217;. The President questioned Trump&#8217;s honesty, suggesting that the former President&#8217;s project threatens American freedoms and future.
The president urged people to &#8220;Google&#8221; the facts if they didn&#8217;t believe him.
<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 is he talking about? Trump is lying about Project 2025. It's his people and his plan. But it's your freedoms and future at risk. Trump's "project" will destroy America. If you don't believe me, google it. <a href="https://t.co/YoZnGGJv57">https://t.co/YoZnGGJv57</a>
&mdash; Joe Biden (@JoeBiden) <a href="https://twitter.com/JoeBiden/status/1809619592731308136?ref_src=twsrc%5Etfw">July 6, 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/news/24/07/39638541/trumps-unfounded-claims-kamala-harris-stir-controversy-shes-so-bad-shes-so-pathetic?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Unfounded Claims About Kamala Harris Stir Controversy: &#8216;She&#8217;s So Bad, She&#8217;s So Pathetic&#8217;</a>
Trump had previously distanced himself from the contentious project, despite its ties to his potential second-term administration. The project, led by the Heritage Foundation, a conservative think tank, has been criticized by Democrats for outlining an extreme policy agenda.
Why It Matters: This post on X comes in the wake of Trump&#8217;s public <a href="https://www.benzinga.com/news/24/07/39654177/trump-distances-himself-from-project-2025-amid-rising-controversy-i-know-nothing">disavowal of any connection</a> to &#8216;Project 2025&#8217;. According to a Benzinga report, Trump renounced any association with the initiative, despite its ties to his potential second-term administration.
However, Olivia Troye, a former staffer of Mike Pence&#8217;s Homeland Security, has refuted Trump&#8217;s claims of unawareness about &#8216;Project 2025&#8217;. In a recent CNN appearance, Troye stated that the controversial plan for restructuring the federal government was <a href="https://www.benzinga.com/news/24/07/39657905/former-mike-pence-staffer-dismisses-trumps-attempts-to-distance-himself-from-project-2025-prepostero">orchestrated by Trump&#8217;s former White House officials</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39638455/obama-era-official-says-democrats-discussing-how-to-replace-biden-full-scale-panic-behind-the-scenes?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Obama-Era Official Says Democrats Discussing &#8216;How&#8217; To Replace Biden: &#8216;Full-Scale Panic&#8217; Behind The Scenes</a></li>
</ul>
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>

'Trump Is Lying About Project 2025,' Says Joe Biden: 'It's His People And His Plan' And It Will Destroy America, Google It

Influential cryptocurrency trader Kevin shared his analysis on the current market correction of Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), suggesting that the worst could be over for the king of memecoins if the pattern follows previous cycles.
What Happened: Kevin took to X Sunday to share his insights on the ongoing market correction of Dogecoin. He noted that in the previous bull market, Dogecoin experienced 50–60% corrections three times before reaching its macro top. 
Currently, Dogecoin has seen a 60% correction, which, according to him, could indicate that the worst is over if the pattern aligns with previous cycles. However, he also warned that the bullish narrative could be invalidated if Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has reached its peak and is entering a longer bear market.
<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">In the previous bull market for <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> it saw on 3 separate occasions 50-60% corrections while grinding its way to its eventual macro top. At the current moment this correction has been 60%. If we are in line with previous cycles and their average corrections then the worst… <a href="https://t.co/dIE7XS372s">pic.twitter.com/dIE7XS372s</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1810086486068670683?ref_src=twsrc%5Etfw">July 7, 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/markets/cryptocurrency/24/07/39640358/shiba-inu-lead-developer-shytoshi-kusama-appears-in-japan-in-batman-like-avatar-our-humble?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Lead Developer Shytoshi Kusama Appears In Japan In Batman-Like Avatar: &#8216;Our Humble King BatBoshi&#8217;</a>
Why It Matters: Kevin&#8217;s analysis comes at a time when Dogecoin, along with the broader cryptocurrency market, has corrected sharply due to <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39652199/impact-of-mt-gox-germany-sales-on-bitcoin-lettuce-hands-are-flushed-out">concerns over billions of dollars in potential Bitcoin sales</a>. Over the last week, the original dog-themed coin lost 19.77% of its value. 
Some experts, however, continue to be bullish on its long-term potential. Widely-followed analyst Timothy Peterson forecasted Dogecoin&#8217;s surge to $1 in the next two years, a 10x jump from its current value.
Price Action: At the time of writing, DOGE was trading at $0.1026, down 8.63% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Photo Courtesy: Shutterstock.com
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39658172/peter-schiff-says-smart-money-is-selling-and-dumb-money-is-buying-it-through-etfs-they-set">Peter Schiff Says &#8216;Smart Money Is Selling&#8217; And Dumb Money Is Buying It Through ETFs: &#8216;They Set Up Bitcoin ETF Investors To Be The Bag Holders&#8217;</a></li>
</ul>
Disclaimer:&nbsp;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://benzinga.com/apis" rel="noreferrer noopener" target="_blank"></a>