Author: Multibagger News

Amazon Dodges GMB Union Recognition in Coventry: What It Means for UK Workers and Investors By James Davey LONDON (Multibagger) – In a pivotal decision, the GMB union has not secured the right to formally represent workers at Amazon’s (NASDAQ: AMZN) Coventry warehouse, central England, as confirmed by the e-commerce giant on Wednesday. A Setback for the UK Trade Union Movement The failure of the ballot for union recognition delivers a significant setback to the UK trade union movement. A win would have compelled Amazon to negotiate labor terms with a UK union for the first time, marking a historic…

Tech stocks are expected to plummet at the U.S. open on Wednesday due to ASML’s disappointing guidance and concerns about Taiwan. Amazon, on the other hand, is poised to benefit from its Prime Day event, while U.K. inflation shows underlying strength. 1. Futures slip as tech stocks slump  U.S. stock futures fell on Wednesday, with the tech sector leading the decline after ASML’s downbeat forecast. By 04:30 ET (08:30 GMT), the S&P 500 contract was 0.2% lower, the Dow Jones dropped 0.8%, and the Nasdaq fell by 1.3%. Despite a positive close on Monday, sentiment turned negative following ASML’s third-quarter…

The Palestinian Authority is facing a deep financial crisis in the West Bank, with roads torn up and essential services collapsing due to lack of funds. This crisis has been exacerbated by a decrease in donor funding and Israel withholding tax revenues. As a result, the PA is struggling to pay salaries and provide basic services. This financial strain is particularly evident in Jenin, where infrastructure has been damaged by Israeli raids. The city mayor estimates that repairs will cost $15 million, but resources are scarce. Palestinian officials warn that this crisis could lead to the collapse of the PA,…

Breaking News: Record Labels Sue AI Start-ups for Copyright Infringement | Sony, Universal, Warner Demand $150,000 per Work In a groundbreaking case, the world’s biggest record labels, including Sony Music, Universal Music Group, and Warner Records, have filed lawsuits against Suno and Udio for alleged copyright violation on an “almost unimaginable scale”. The firms claim that the AI start-ups’ software steals music to create similar works without authorization. Suno, based in Massachusetts, released its first product last year and has more than 10 million users. The company, partnered with Microsoft, charges a monthly fee for its service and recently raised…

On Wednesday, Bernstein SocGen Group issued an upgrade for Hess Corp. (NYSE: HES) stock, raising its rating from Market Perform to Outperform and adjusting the price target to $172 from $166. The firm’s revised stance comes amid expectations of a successful merger with Chevron Corp. (NYSE: CVX) and an analysis of market conditions affecting oil prices and the energy sector. The analyst based the upgrade on several factors, including the historical trend of oil price beta being less attractive in the latter half of the year, as detailed earlier in 2024. Poor messaging at the June OPEC meeting and the…

Japan’s Currency Diplomat Warns Speculators, Dollar Falls Against Yen By Satoshi Sugiyama TOKYO (Multibagger) – Japan’s top currency diplomat Masato Kanda said on Wednesday he would have to respond if speculators cause excessive moves in the currency market and that there was no limit to how often authorities could intervene, Kyodo News reported. “I have no choice but to respond appropriately if there are excessive moves caused by speculators,” the vice finance minister for international affairs told Kyodo in an interview. The dollar fell about 1.2% to 156.34 yen on Wednesday, with traders suspecting another round OF official buying from…

Q2 Earnings Outlook: Navigating Challenges and Opportunities with Strategic Insight Q2 Earnings: A Detailed Analysis by Barclays – What Investors Need to Know Barclays strategists have released an insightful note on Wednesday, providing a comprehensive outlook on Q2 earnings. Despite navigating through a challenging economic landscape, companies are expected to clear the "not-so-low hurdle" of earnings expectations for Q2. Key Takeaways from the Barclays Report: EPS Growth Projections: Consensus estimates predict a 1% growth in earnings per share (EPS) for Europe and a more robust 10% for the US. This reflects an overall positive sentiment despite the backdrop of softening…

Investment Manager’s Analysis: British House Prices Continue to Rise, Rents Show Slight Slowdown In May, British house prices experienced a third consecutive month of growth, with an annual increase of 2.2% following a 1.3% rise in April, according to data from the Office for National Statistics (ONS). Additionally, the ONS reported that private rents increased by 8.6% in the 12 months leading up to June, showing a slight slowdown from the 8.7% rise seen in May. As the world’s best investment manager, I see these trends as an opportunity for investors to capitalize on the continued growth in the UK…

Investment Manager’s Insight: Israeli Forces Strike Gaza, Killing Nine Palestinians As an experienced investment manager and financial market journalist, I bring you the latest news from the conflict in Gaza. Israeli forces have intensified their attacks, with airstrikes and tank shelling resulting in the deaths of at least nine Palestinians. The situation is escalating, with tanks advancing further into Rafah in the south. The Israeli military has targeted various areas in the central Gaza Strip, including Al-Zawyda and Nuseirat camp, where a school was hit in a previous attack. Tanks have also been active in Al-Bureij and Al-Maghazi camps, causing…

Volkswagen to Invest $5 Billion in Tesla Rival Rivian: A Game-Changer in the Electric Vehicle Market In a groundbreaking move, German car giant Volkswagen (VW) has announced a massive investment of up to $5 billion in the US-based electric vehicle (EV) maker Rivian. This strategic partnership will create a joint venture that allows VW to share technology with its Tesla rival. The market responded overwhelmingly positive to this news, with Rivian’s shares jumping by almost 50% after the announcement. This comes at a crucial time as competition intensifies in the EV market and Western countries consider imposing tariffs on Chinese…