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Zahav Inc

Lotus continues to achieve top-rate growth among traditional luxury car brands, delivering 7,543 vehicles1&nbsp;in the first nine months of 2024, representing a year-on-year increase of&nbsp;134%. Global allocation in terms of deliveries remained well-distributed, with Europe, China, North America and the Rest of the World regions each contributing about&nbsp;20-35%&nbsp;of the total deliveries. In the&nbsp;third quarter&nbsp;of 2024, Emeya (GT, Sedan) was delivered to Europe, whilst Eletre (SUV) reached markets including the GCC, Japan and Korea.

News

Reported Earlier, Lotus Technology Reports 134% YoY Vehicle Delivery Surge In First Nine Months Of 2024

Macro Economic Events

Econ #s

Economics

U.K. Retail Sales (YoY) For September 3.9% Vs. 3.2% Est.; 2.3% (Revised) Prior

U.K. Retail Sales (MoM) For September 0.3% Vs. -0.3% Est.; 1.0% Prior

U.K. Core Retail Sales (MoM) For September 0.3% Vs. -0.3% Est.; 1.1% Prior

U.K. Core Retail Sales (YoY) For September 4.0% Vs. 3.2% Est.; 2.2% (Revised) Prior

Netflix Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) Co-CEO&nbsp;Ted Sarandos on Thursday outlined why the streaming giant continues to hold an edge over YouTube, a subsidiary of Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google.
What Happened: During Netflix&#8217;s <a href="https://www.benzinga.com/news/earnings/24/10/41391637/netflix-q3-earnings-revenue-beats-eps-tops-q4-guidance-projects-subscriber-boost-from-squid-game-nf">third-quarter earnings</a> call, a question about&nbsp;YouTube&#8217;s growing share of TV&nbsp;consumption was raised.
In response, Sarandos highlighted Netflix&#8217;s commitment to investing in premium content to increase viewer engagement, stating, &#8220;Netflix is the best place&nbsp;for premium stories because we&#8217;re&nbsp;the home to the best&nbsp;storytellers.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41375934/meta-confirms-layoffs-across-instagram-whatsapp-and-reality-labs-amid-strategic-reshuffle?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta Confirms Layoffs Across Instagram, WhatsApp And Reality Labs Amid Strategic Reshuffle</a>
Regarding YouTube, he said, &#8220;When I look at YouTube specifically, I&#8217;d say look, we compete directly with YouTube for people&#8217;s time, for the time they spend on that TV screen. But we have very different strengths.&#8221;
Another, Netflix Co-CEO Greg Peters added that Netflix plays a crucial role for consumers seeking high-quality movies and TV shows, and for creators looking for partners willing to share the inherent risks of bringing stories to life.
&#8220;A Hundred Years of Solitude, Senna, both coming from Latin America, which are huge, ambitious projects. It&#8217;s hard to imagine how those kind of big creative bets would be possible with YouTube&#8217;s model,&#8221; Peters stated.
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: Netflix&#8217;s third-quarter financial results showed a 15% year-over-year increase in revenue, beating Street consensus estimates.
Moreover, Netflix&#8217;s recent foray into live sports programming indicates a strategic shift from its traditional on-demand model. This move aims to capture high-impact moments and the <a href="https://www.benzinga.com/general/entertainment/24/10/41395213/netflixs-200b-hour-problem-why-live-sports-are-just-a-drop-in-the-streaming-ocean">excitement of global live events</a>, further enhancing viewer engagement.
During the <a href="https://www.benzinga.com/news/earnings/24/07/39849026/netflix-q2-earnings-highlights-revenue-beat-eps-beat-advertising-revenue-more-meaningful-squid-game" target="_blank" rel="noreferrer noopener">second-quarter earnings</a> call, Netflix executives were asked questions about YouTube.
At the time, Sarandos&nbsp;said, &#8220;So our two services — us and YouTube represent about 50% of all streaming to the TV in the U.S. and we use the U.S. only because that's where we have the data.&#8221;
&#8220;So really what we're focused on here is focusing ourselves on that other 80% of total TV time that isn't going to either us or YouTube,&#8221; he said in July.
Sarandos <a href="https://www.benzinga.com/general/entertainment/24/07/39853498/netflix-aims-to-capture-broader-tv-market-sees-youtube-as-both-competitor-and-partner-we-ki">reiterated Netflix&#8217;s commitment to focus</a> on the remaining 80% of the market during the third-quarter call too.
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:
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<li><a href="https://www.benzinga.com/news/24/10/41356479/apple-spark-hope-for-americas-semiconductor-comeback-key-supplier-tsmc-reportedly-begins-producing-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Spark Hope For America&#8217;s Semiconductor Comeback: Key Supplier TSMC Reportedly Begins Producing Chips In US For iPhone Maker</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Unsplash

Entertainment

Equities

Markets

Tech

General

GOOG

GOOGL

NFLX

Netflix's Ted Sarandos Downplays Concerns Of YouTube's Growing Share Of TV Consumption: 'We're The Home To The Best Storytellers'

Orders and deliveries
In Q3, net order intake decreased by 8% to 43,234 trucks and deliveries decreased by 16% to 46,266 units. Deliveries of heavyduty trucks decreased by 9%, of medium-duty trucks by 21% and of light-duty trucks by 61%.

Earnings

VLVLY

Volvo's Q3 Saw 8% Drop In Net Order Intake To 43,234 Trucks, With Deliveries Down 16% To 46,266 Units

Volvo (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VLVLY#OTC">VLVLY</a>) reported quarterly earnings of $0.47 per share. This is a 26.18 percent decrease over earnings of $0.64 per share from the same period last year. The company reported $11.22 billion in sales this quarter. This is a 8.38 percent decrease over sales of $12.25 billion the same period last year

VLVCY

Volvo Q3 EPS $0.47 Down From $0.64 YoY, Sales $11.22B Down From $12.25B YoY

Sam Altman&#8217;s cryptocurrency-based <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37573206/sam-altmans-worldcoin-halts-id-verification-in-spain-amid-legal-tussle">identity verification project</a> Worldcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WLD</a>) will now be known as &#8220;World.&#8221; Apart from the rebrand, the team also announced the launch of World Chain, an Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based Layer-2 network.
What Happened: At an event on Thursday, OpenAI CEO Altman, along with the other executives tied to the project, unveiled several new developments.
The team outlined their plans for &#8220;Orb 2.0,&#8221; an enhanced version of the biometric imaging device that the project uses to collect people's iris in exchange for WLD tokens.
The team also announced the introduction of World Chain, a blockchain that can be customized to meet its specific demands. With 15 million human data points, it was dubbed the &#8220;largest blockchain of humans on day one.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41319774/if-you-invested-1-000-in-bitcoin-when-warren-buffett-called-it-rat-poison-squared-heres-ho?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $1,000 In Bitcoin When Warren Buffett Called It &#8216;Rat Poison Squared,&#8217; Here&#8217;s How Much You</a>
Why It Matters: Sam Altman launched the Worldcoin project last year amid significant media attention. 
However, the positive publicity soon transformed into negative publicity as concerns over personal data privacy surfaced. The project has been banned in&nbsp;<a href="https://www.benzinga.com/markets/asia/24/05/38981228/sam-altman-founded-worldcoin-shown-the-door-in-hong-kong-over-privacy-concerns" target="_blank" rel="noreferrer noopener">Hong Kong</a>, Kenya, and&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39176283/sam-altman-founded-worldcoins-suspension-extended-in-spain-crypto-plunges-55-since-march-p" target="_blank" rel="noreferrer noopener">Spain</a>. 
The persistent scrutiny affected the performance of the WLD token, causing it to plunge 40% year-to-date. 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Keynote: a new world" width="500" height="281" src="https://www.youtube.com/embed/Ey5bSeUeqqU?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>
Price Action: As of this writing, WLD was exchanging hands at $2.21, losing 1.95% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41328586/mark-cuban-dismisses-dogecoin-founders-concerns-kamala-harris-is-night-and-day-away-from-b?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Arrest Made In SEC X Account Hack Prior To Bitcoin ETF Approval, FBI Says Phone Used To &#8216;Manipulate Financial Markets&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Worldcoin<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

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

Cryptocurrency

$ETH

$WLD

Sam Altman-Founded Worldcoin Is Changing Its Name To 'World' And Launching Its Own Blockchain — WLD Token's Fortunes Set To Soar?

Reported Earlier, Chinese Unemployment Rate For September 5.1% Vs. 5.3% Est.; 5.3% Prior

Reported Earlier, China Industrial Production Year to Date (YoY) For September 5.8% Vs. 5.8% Prior

Reported Earlier, China Industrial Production (YoY) For September 5.4% Vs. 4.6% Est.; 4.5% Prior

Reported Earlier, China Gross Domestic Product (GDP) Year to Date (YoY) For Q3 4.8% Vs. 5.0% Prior

Reported Earlier, China Gross Domestic Product (YoY) For Q3 4.6% Vs. 4.6% Est.; 4.7% Prior

Reported Earlier, China Gross Domestic Product (QoQ) For Q3 0.9% Vs. 1.0% Est.; 0.7% Prior

Reported Earlier, China Fixed Asset Investment (YoY) For September 3.4% Vs. 3.3% Est.; 3.4% Prior

Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) has launched its new desktop trading platform, Robinhood Legend, at the HOOD Summit 2024, signaling a significant shift from its <a href="https://www.benzinga.com/fintech/24/10/41371235/robinhood-announces-futures-trading-index-options-trading">mobile-first approach</a> to a more comprehensive wealth management platform.
What Happened: Chief Brokerage Officer Steve Quirk emphasized the need for this transition, stating, &#8220;About 50% of all retail trading happens on a mobile device and about 50% of it happens on a desktop. We, up to this point, had only been competing on the mobile front. Now we have an alternative.&#8221; Quirk <a href="https://youtu.be/FyaBFs1dZZI?feature=shared">said</a> this in an appearance on CNBCOvertime.
Robinhood Legend is designed to appeal to more sophisticated retail investors, featuring advanced charting capabilities with up to eight simultaneous charts and enhanced technical indicators. 
CEO Vlad Tenev highlighted the initial success of the platform, announcing that the first thousand early access spots were claimed in under a minute, indicating robust demand among users.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41395673/google-reshuffles-search-leadership-while-navigating-ai-threat-to-core-business">Google Reshuffles Search Leadership While Navigating AI Threat To Core Business</a>
Why It Matters: This development follows a series of strategic moves by Robinhood to expand its offerings. The company recently announced the launch of <a href="https://www.benzinga.com/fintech/24/10/41371235/robinhood-announces-futures-trading-index-options-trading">futures trading and index options trading</a> at the HOOD Summit 2024. This was seen as a major expansion of the platform&#8217;s offerings.
Robinhood&#8217;s acquisition of Bitstamp is also expected to <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41391989/exclusive-robinhoods-bitstamp-deal-will-drive-growth-exec-says-what-was-good-for-stocks-we">drive growth in its crypto offerings</a>. The company&#8217;s General Manager for Robinhood Crypto, Johann Kerbrat, highlighted the potential impact of this acquisition on the company&#8217;s crypto products.
Robinhood&#8217;s growth has been a topic of <a href="https://www.benzinga.com/markets/options/24/10/41389775/exclusive-cboe-ceo-says-robinhood-growth-an-eye-opener-unpredictable-2024-election-could-increase">discussion in the industry</a>, with CBOE CEO Fred Tomczyk describing it as &#8220;an eye-opener&#8221;. The company&#8217;s expansion into desktop trading is expected to further strengthen its position in the market.
Price Action: Robinhood&#8217;s stock closed at $26.32 on Thursday, down 2.27% for the day. In after-hours trading, the stock saw a slight increase of 0.38%. Year to date, Robinhood&#8217;s stock has experienced growth of 112.77%, according to <a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Man Who Accidentally Threw Hard Drive Containing 8,000 Bitcoins Worth Half A Billion Dollars In Landfill Sues Local City Council For Not Excavating The Site</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>

HOOD

Robinhood Aims To Capture Beyond 50% Of Mobile Traders With Legend Desktop Platform: 'Now We Have An Alternative'

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan National Consumer Price Index (MoM) For September -0.3% Vs. 0.5% Prior

Reported Earlier, Japan National Core Consumer Price Index (YoY) For September 2.4% Vs. 2.3% Est.; 2.8% Prior

In a recent interview, former President Donald Trump advocated for a significant increase in import tariffs, a move that was slammed by Nobel winning economist Paul Krugman in a recent opinion piece.
What Happened: Trump, known for imposing substantial tariffs during his presidency, is now suggesting tariffs as high as 20 percent, including a 60 percent tariff on imports from China. Economists have voiced their opposition to these proposals, warning that such high tariffs could harm the economy, according to Krugman in his New York Times column. He said he shared a similar view.
The economist also shared the column through X and asked, &#8220;Are Trump's tariff ideas really that bad? No, they're worse.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Are Trump's tariff ideas really that bad? No, they're worse <a href="https://t.co/AgDoAYoVfQ">https://t.co/AgDoAYoVfQ</a>
&mdash; Paul Krugman (@paulkrugman) <a href="https://twitter.com/paulkrugman/status/1847062351997984849?ref_src=twsrc%5Etfw">October 17, 2024</a></blockquote>
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The former president believes that these high tariffs would reduce U.S. trade deficits and stimulate domestic manufacturing. However, this approach has been widely criticized by economists, who argue that the tariffs would not achieve these goals.
Opining on why Trump favored Tariffs, Krugman wrote, &#8220;It has never been entirely clear why Trump has a thing for tariffs. My guess is that he sees everything in terms of winners, losers and punishment.&#8221;
Trump&#8217;s proposed tariffs, if implemented, could potentially turn the clock back 90 years, raising overall tariffs to levels not seen since the era of the Smoot-Hawley Tariff Act.
Trump&#8217;s proposed tariffs were framed as a plan, they were likely to raise living costs by about 3 to 4 percent, disproportionately affecting middle- and lower-income families. Economists generally agreed that these tariffs would not boost American manufacturing or reduce the trade deficit, and could ultimately harm the economy by increasing global poverty and creating market fragmentation, said Krugman.
&#8220;What the tariffs would do is shrink our economy. They would cause us to sell less of the goods we currently export — that is, stuff we're relatively good at producing — and more stuff we aren't that good at producing. The effect would be to make the economy less efficient and poorer,&#8217; wrote the Economist.
He warned, &#8220;The Trump tariffs could cause a spike in global poverty — and, it's easy to imagine, global conflict.&#8221;
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41331839/financial-sector-hits-record-highs-as-goldman-sachs-bank-of-america-citi-beat-q3-ea?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Financial Sector Hits Record Highs As Goldman Sachs, Bank of America, Citi Beat Q3 Earnings Expectations</a>
Why It Matters: Trump&#8217;s tariff strategy has been a topic of discussion among economists and business leaders. <a href="https://www.benzinga.com/general/politics/24/10/41371990/trump-cant-impose-tariffs-on-china-says-peter-schiff-he-can-only-impose-tariffs-on-americans-who">Peter Schiff</a>, a renowned economist, criticized Trump&#8217;s approach, stating that tariffs would only affect Americans who buy Chinese products.
Similarly, billionaire Mark Cuban <a href="https://www.benzinga.com/news/24/10/41348822/mark-cuban-says-he-knows-what-trump-wants-to-achieve-with-tariffs-but-the-ex-president-has-no-idea-w">expressed his skepticism</a> about Trump&#8217;s approach to revitalizing U.S. manufacturing through tariffs. In a post, Cuban argued that Trump does not understand what it takes to achieve his goals.
Trump defended his tariff strategy during an <a href="https://www.benzinga.com/general/politics/24/10/41344136/trump-goes-on-the-defense-about-massive-effect-of-tariffs-economic-growth-putin-relationship-djt">interview</a> at the Economic Club of Chicago, stating that tariffs have a &#8220;massive effect.&#8221;
Image via Flickr
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<li><a href="EXCLUSIVE: Robinhood's Bitstamp Deal Will Drive Growth, Exec Says: 'What Was Good For Stocks ... We Brought Into Crypto'">EXCLUSIVE: Robinhood&#8217;s Bitstamp Deal Will Drive Growth, Exec Says: &#8216;What Was Good For Stocks … We Brought Into Crypto&#8217;</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>

Politics

Paul Krugman Warns Trump's Tariff Plan Could Rewind Economic Progress 90 Years and Ignite Global Conflict: 'He Sees Everything In Terms Of Winners, Losers And Punishment'

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