US Government May Liquidate Around $4.4B Bitcoin, Cyber Specialists Flag Twitter Misinformation Concerns, Tesla’s Model S, Model X Recall: Top Stories Tuesday, November 8 – Bitcoin (BTC/USD), Ethereum (ETH/USD)

by James · November 8, 2022

Reuters

Nvidia’s new chip could bypass US ban on China exports: What investors need to know

Nvidia Corporation NVDA may have found a solution to the China export ban announced by the US government in late August.

Nvidia is offering a new chip, called the A800 graphics processing unit, to Chinese customers who may not be restricted by the US government’s export license requirements, a spokesperson for the chipmaker said in a statement.

Bosch Settles California Diesel Emissions Claim With $25 Million in Penalties

German auto supplier Bosch agreed to pay $25 million to settle a California investigation into the company’s role in the diesel emissions scandals at Volkswagen AG VWAGY and Stellantis NV STLA Fiat Chrysler.

Bosch allegedly provided services to Volkswagen and Fiat Chrysler “when it knew or should have known that those automakers were violating environmental and consumer protection laws,” California Attorney General Rob Bonta said.

Under the settlement, Bosch must disclose to California if it concluded that a manufacturer would use or has used software to avoid emissions rules.

Financial Times

US authorities are planning a massive expansion of drug access to combat the opioid overdose crisis

The US government is grappling with the opioid crisis and plans to significantly expand access to drugs that deal with opioid addiction, such as methadone, buprenorphine and naltrexone.

Clinicians who market drugs face strict rules. To prescribe buprenorphine, one of the most effective medications, they must apply for waivers that require them to complete training.

Providing access to general medicine requires comprehensive reforms to remove barriers at the patient, clinician and system level.

Bloomberg

Amazon could be in trouble as British packaging workers voted to strike in the middle of the biggest holiday season

Almost 1,000 workers at packaging maker DS Smith voted to strike over pay in a move their union said would affect customers of the British firm, including Amazon.com Inc AMZN at one of the busiest times for retail.

Staff at five DS Smith sites across the UK could walk out before the end of this month, according to an email from the GMB union, which said 93% of members had backed industrial action.

Gasoline

Tesla investors to brace for recall of 40,000 Model 3, X EVs as inventory already under pressure

Tesla Inc TSLA recalling over 40,000 Model S and Model X vehicles from 2017-2021. The company’s stock – apparently in reaction to the news – fell sharply in the premarket session.

The electric vehicle maker notified the National Highway Traffic Safety Administration of the recall on Nov. 1, and the company initiated the recall due to problems with the electronic power steering system, or EPAS.

Post-Elon Musk takeover, cyber experts flag Twitter misinformation concerns on US midterm eve

Tesla Inc CEO Elon Musk faces a test of how to handle misinformation and hate speech on Twitter as the United States votes in midterm elections just days after the billionaire fired employees who moderated user content.

Critics had already flagged Musk’s plans to loosen content moderation on his newly acquired social media site as he began implementing a plan to fire half of Twitter’s 7,500 employees.

US authorities may liquidate around $4.4 billion in Bitcoin when the time is right

Over the past couple of years, the US government has become one of the biggest whales of Bitcoin (BTC/USD), holding over 214,046 bitcoins at minimum.

The Department of Justice (DOJ) seized about 50,676.17 bitcoins (about $1 billion in today’s prices) in November 2021 from a Bitcoin trader named James Zhong, who defrauded the darknet marketplace Silk Road.

The seizure is remarkable – it is the third largest in cryptocurrency history Crypto Briefing count – especially considering the amount of Bitcoin the US government already controls.

Google Pixel Watch Reportedly Has a Bug: Screen Turns Off After 15 Minutes Despite AoD On

Alphabet Inc GOOG GOOGLE Google Pixel Watch The always-on display, or AOD feature, reportedly does not support watch faces using legacy development practices.

Some Google Pixel Watch owners have found that older watch faces don’t fully support the always-on display. Due to this problem, the AOD function turns off after about 15 minutes. AOD worked as expected up until that point.

Medtronic shares fall as blood pressure-lowering device fails on key target

Medtronic plc MDT announced the six-month results of the full cohort of the SPYRAL HTN-ON MED trial.

Subjects in the Symplicity Spyral Renal Denervation (RDN) System had a statistically significant and clinically meaningful reduction in office-based systolic blood pressure (OSBP), a key secondary endpoint, compared to the sham control group.

However, in the primary endpoint, RDN did not show a statistically significant reduction in 24-hour ambulatory systolic blood pressure (ABPM).

DuPont clocks 4% sales growth in Q3 supported by strength in key end markets; Plans to buy back shares of 5 billion dollars

DuPont de Nemours Inc DD Third-quarter sales rose 4% to $3.3 billion. Organic growth of 11% consisted of a price increase of 8% and a volume increase of 3%.

The operating EBITDA margin increased by 30 bps to 25.8%. Adjusted EPS was $0.82, up 4% year over year.

Renault partners with Geely to form Internal-Combustion JV

Renault RNLSY and Chinese car company Geely signed an agreement to form a new global company to develop, manufacture and supply advanced hybrid and low-emission powertrains.

According to the framework agreement, Geely and Renault Group will each have 50-50 shares in the new company.

Renault expands partnership with Google to strengthen digital transformation

Renault has expanded cooperation with Alphabet Inc GOOG Google to speed up the group’s digitalisation.

The the partnership aims to design and deliver the digital architecture for the ‘Software Defined Vehicle’ (SDV).

The two partners will develop a set of on-board and off-board software components dedicated to SDV and will increase synergies and use cases related to the group’s Move to Cloud strategy.