Author: Multibagger News

British Inflation Holds at 2.0%, Defying Forecasts – What Does This Mean for Your Investments?Last month, British inflation remained steady at 2.0%, surprising economists who had predicted a slight decrease. The persistence of underlying price pressures has created uncertainty around the timing of the Bank of England’s potential interest rate cut.According to a Multibagger poll, experts had anticipated a drop in consumer price inflation to 1.9% in the 12 months leading up to June, following a decline from its peak of 11.1% in October 2022.Services inflation, however, stood strong at 5.7%, in line with May’s figures. This stronger-than-expected inflation is…

Title: "Cloud Exodus: How 37signals Boosted Profits by $1M Leaving the Cloud – Expert Analysis" On June 27, 2024, software firm 37signals made a bold move that resulted in a profit boost of over $1 million (£790,000) by ditching the cloud. Co-owner and chief technology officer, David Heinemeier Hansson, made the decision after realizing the exorbitant costs associated with cloud services. The company, known for its online project management and productivity software like Basecamp and Hey, saved a significant amount by purchasing hardware and hosting it in a shared data center instead of outsourcing to a third-party cloud provider. Heinemeier…

The Ultimate Guide to Crypto Investing: Trump’s Influence on Bitcoin Price Surge In the world of cryptocurrency, Bitcoin has been on a rollercoaster ride, with its price rising on Wednesday amidst speculation surrounding a Donald Trump presidency. The potential for a friendlier regulatory environment under Trump’s leadership has overshadowed concerns over selling pressure from Mt Gox. Speculation over spot exchange-traded funds tracking Ether has also boosted sentiment towards crypto, as reports suggest that the Securities and Exchange Commission is close to approving applications from U.S. fund operators. Bitcoin saw a 2% increase in the past 24 hours, reaching $65,803.3, as…

PwC Faces Major Workforce Reduction in China Amid Regulatory Scrutiny and Client Exodus By Julie Zhu HONG KONG (Multibagger) – In a significant shakeup, PricewaterhouseCoopers (PwC) is contemplating slashing up to 50% of its financial services auditing staff in China, according to sources familiar with the situation. This drastic measure comes as PwC grapples with regulatory investigations and a wave of client departures. Regulatory Heat and Client Losses Trigger Workforce Cuts Chinese regulators have intensified their scrutiny of PwC this year due to its auditing role for the beleaguered property giant China Evergrande Group. This has led to an exodus…

Byju’s Faces Insolvency Proceedings Over $19 Million Dues to BCCI – Multibagger By Indranil Sarkar and Arpan Chaturvedi BENGALURU/NEW DELHI (Multibagger) – Edtech company Byju’s, once India’s biggest startup valued at $22 billion, will face insolvency proceedings for failure to pay $19 million in dues to the country’s cricket board, a tribunal said on Tuesday. Byju’s has suffered setbacks, including boardroom exits and a tussle with investors. CEO Byju Raveendran has been accused of corporate governance lapses, job cuts, and a collapse in valuation. India’s companies tribunal ruling initiated insolvency proceedings. An interim resolution professional will oversee management as the…

As the world’s top investment manager and financial market journalist, I bring you breaking news from Instagram: users can now add multiple audio tracks to their Reels! This update allows for up to 20 tracks in a single Reel, giving creators more creative flexibility. By tapping on the “Add to mix” option in the Reel editor, users can easily add and trim audio tracks to align with their visuals. This new feature eliminates the need for external editors, making the content creation process seamless. Instagram’s head, Adam Mosseri, recently shared that the platform will focus on short videos over long-form…

Pernod Ricard Divests Major Wine Portfolio to Focus on High-End Spirits: A Strategic Shift Explained LONDON (Multibagger) – In a strategic move to concentrate on its core business of high-end spirits, Pernod Ricard has announced the sale of the majority of its wine portfolio to the owners of Australia’s Accolade Wines. The transaction, pending regulatory approvals, includes renowned brands such as Jacobs Creek, Stoneleigh, and Campo Viejo from Australia, New Zealand, and Spain. The financial terms of the deal have not been disclosed. Why This Move? Pernod Ricard, the world’s second-largest Western spirits producer, is sharpening its focus on premium…

Breaking News: Hong Kong Sees Surge in Home Purchases by Mainland Chinese Buyers In a groundbreaking move, Hong Kong removed all buying curbs, leading to a record number of home purchases by mainland Chinese buyers in the first six months. According to Centaline Property Agency, the transaction value from these purchases accounted for a staggering 31% of the total. The removal of additional stamp duties for foreign and second home buyers, combined with a 20% drop in prices from their peak in 2021, created the perfect storm for increased activity in the property market. During the first half of the…

Breaking News: Former Rivals Nikki Haley and Ron DeSantis Endorse Trump After Assassination Attempt | Republican Convention Update In a surprising turn of events at the Republican party’s convention, former rivals Nikki Haley and Ron DeSantis have come out in full support of Donald Trump’s candidacy, following an assassination attempt on the former president. Haley, who once criticized Trump, now urges her supporters to vote for him over Joe Biden for the sake of the nation. DeSantis, with his right ear bandaged from the recent incident, also endorsed Trump and criticized Biden’s age. The convention, aimed at showcasing party unity,…

Meta’s “Pay or Consent” Advertising Model Under EU Scrutiny | Potential Fine Looms | Analysis As the world’s best investment manager and financial market journalist, it is crucial to stay updated on the latest developments in the tech industry, especially when it comes to regulatory actions against big tech firms like Meta, the owner of Facebook. The European Commission has raised concerns about Meta’s new “pay or consent” advertising model in the EU, which requires users to either consent to personalized ads or pay a monthly fee to remove them. The Commission has taken a preliminary view that Meta’s advertising…