Author: Multibagger News

Novo Nordisk Faces Regulatory Reprimand for Undisclosed £7.8 Million Payments in the UK Novo Nordisk Faces Regulatory Reprimand for Undisclosed £7.8 Million Payments in the UK What Happened? Danish pharmaceutical giant Novo Nordisk (NYSE: NVO) has come under fire from UK regulators for not disclosing payments amounting to approximately £7.8 million ($9.97 million) between 2020 and 2022. The UK industry watchdog, Prescription Medicines Code of Practice Authority (PMCPA), issued the reprimand following Novo’s own voluntary admission about these payments. The Details Novo Nordisk self-reported that it had discovered historical payments that were not properly disclosed. These payments, which involved over…

By Ann Saphir Recent data from the Labor Department has shown a cooling in the labor market, with the unemployment rate rising to 4.1% in June. This could give Federal Reserve policymakers more confidence in their fight against inflation, potentially leading to a discussion on interest-rate cuts at their next meeting in late July. The average monthly payroll gain over the past three months has decreased to 177,000, below the 200,000 mark estimated by Fed Governor Lisa Cook. Additionally, average hourly earnings were up 3.9% from a year earlier, signaling a slowdown in price pressures. While the Fed is not…

By Steve Keating (Multibagger) – In a shocking turn of events, World Aquatics executive director Brent Nowicki has been subpoenaed by the U.S. government to testify in an investigation into how 23 Chinese swimmers managed to avoid punishment after testing positive for banned drugs just weeks before the Tokyo Olympics. A U.S. House of Representatives committee has called on the Department of Justice (DOJ) to look into the doping scandal that has sent shockwaves through the sports world, especially with the Paris Olympics on the horizon. The World Anti-Doping Agency (WADA) has faced mounting criticism for its handling of the…

GoMining Token to be Listed on HTX Crypto Exchange – Exciting News for Investors! As the world’s best investment manager and financial market journalist, I am thrilled to bring you the latest news from the crypto world. GoMining, a premier mining operator, is redefining the industry with its innovative NFTs backed by a real share of BTC hashrate. And the best part? The GOMINING token is now set to be listed on the HTX crypto exchange. This collaboration between GoMining and HTX will provide investors with a reliable and convenient way to purchase GOMINING, adding liquidity to this utility token.…

Murray Stahl Increases Stake in RENN Fund, Inc. (NYSE:RCG) Through Stock Purchases – CEO Confidence Boosts Investor Sentiment Murray Stahl, CEO and President of RENN Fund, Inc. (NYSE:RCG), recently acquired 184 shares of common stock in the company, signaling his confidence in its future performance. This move was disclosed in a filing with the Securities and Exchange Commission, providing transparency into the trading activities of company executives. Stahl’s direct acquisition of shares, along with indirect purchases through related entities and family members, has increased his total stake in RENN Fund, Inc. to 5,396 shares. Investors often view such transactions by…

Tesla Stock Surges as Q2 Delivery Report Exceeds Expectations Tesla (NASDAQ: TSLA) stock has bounced back into positive territory for the year following a strong second-quarter delivery report. The electric vehicle (EV) giant surpassed analyst estimates by delivering 443,956 vehicles in Q2, representing a 14.8% increase in deliveries from the previous quarter. Investor confidence has been renewed as Tesla’s stock has edged 0.16% higher for the year. Despite a 4.8% year-over-year decline in overall sales, the impressive Q2 performance indicates that Tesla is effectively navigating demand challenges. This positive news comes after a period of uncertainty for Tesla’s stock price,…

Elon Musk’s Delay in Disclosing Twitter Stake Spurs Lawsuit – What You Need to Know for Your Portfolio By Jonathan Stempel NEW YORK (Multibagger) – In a dramatic turn of events, Elon Musk is seeking to dismiss a lawsuit initiated by former Twitter shareholders. The shareholders allege that Musk, the world’s richest person and CEO of Tesla (NASDAQ:TSLA), intentionally delayed revealing his substantial ownership stake in Twitter (now known as X) in early 2022. The Crux of the Lawsuit The lawsuit, filed in Manhattan federal court, claims that Musk and his wealth manager, Jared Birchall, were aware of a U.S.…

France and Germany’s industrial production fell more than expected in May, impacting the global economy. France’s Insee reported a 2.1% drop, while Germany recorded a 2.5% decline. Analysts had forecast smaller decreases, attributing the drop to public holidays and a weak economic environment. INSEE highlighted supply difficulties in automotive and chemicals sectors, as well as challenges in metals manufacturing and construction. The slowdown in the U.S. economy, trade tensions with China, and labor shortages were also cited as factors. Euro zone industrial production figures in April also missed expectations, with a 0.1% decrease compared to an expected 0.5% rise. This…

Breaking News: U.S. Military Completes Withdrawal from Niger’s Air Base 101 | Impact on Sahel Region Insurgency In a major development, the U.S. military is set to complete the withdrawal of all U.S. personnel from Niger’s Air Base 101 in the nation’s capital on Sunday. This move comes after Niger’s ruling junta ordered the withdrawal of nearly 1,000 military personnel from the country in April. Until a coup last year, Niger had been a key partner in Washington’s fight against insurgents in the Sahel region of Africa, who have caused widespread devastation by killing thousands of people and displacing millions…

Breaking News: Bitcoin Hits Four-Month Low After Mt. Gox Repayments and German Police Seize $75 Million in Crypto The crypto market saw a significant price correction on Friday as Bitcoin dropped to $53,500 following the news of repayments by Mt. Gox and the German government seizing $75 million in crypto from a piracy website. Additionally, the Federal Reserve’s minutes indicated no immediate interest rate cuts, adding pressure to the market. However, Bitcoin has since rebounded and is trading near $55,700. The repayment process for Mt. Gox creditors has finally begun after years of delays. The trustee managing the bankruptcy estate…