Author: Multibagger News

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…

Former Sezzle Inc. Director Sells $1M Worth of Stock, What Does This Mean for Investors? In a recent insider transaction, Paul Martin Purcell, a former director of Sezzle Inc. (NYSE:SEZL), sold 12,100 shares of the company’s common stock at a price of $89.6058 per share, totaling $1,084,230. This sale has raised questions among investors and market analysts about the company’s performance and the confidence level of its executives. Sezzle Inc., a financial technology company based in Minneapolis, Minnesota, is known for its “buy now, pay later” model, which has become popular among consumers. The recent sale by Purcell has adjusted…

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Title: EU Surveys Semiconductor Industry on China’s Legacy Chip Expansion Amid Rising Trade Tensions By [Your Name], World’s Leading Investment Manager & Financial Markets Journalist — EU Investigates China’s Semiconductor Surge: What It Means for Global Markets and Your Investments In a strategic move to safeguard its industries, the European Commission has started gathering insights from the semiconductor sector regarding China’s increased production of legacy computer chips. Two well-placed sources have confirmed this development to Multibagger. Background and Purpose of the Surveys The Commission, acting as the EU’s executive branch, is preparing for two comprehensive surveys targeting the chip industry…

Glencore’s $6.93 Billion Acquisition of Teck Resources’ Steelmaking Coal Unit Approved by Canadian Government with Strict Conditions By Divya Rajagopal, Surbhi Misra, and Mrinmay Dey The Canadian government has given the green light to Glencore’s $6.93 billion takeover of miner Teck Resources’ steelmaking coal unit, but with stringent conditions aimed at safeguarding jobs, according to the country’s industry minister. In order to secure approval for the deal, Glencore has agreed to keep Elk Valley Resources (EVR) headquartered in Canada for at least a decade, ensure that a majority of EVR’s directors are Canadian, and maintain substantial employment levels at EVR…

Bitcoin Plunges to $54,300, Causing $662.62 Million in Liquidations – Michael Saylor Defends BTC Independence while Peter Schiff Warns of Further Declines As the world’s top investment manager and financial market journalist, I bring you the latest news on Bitcoin’s price plunge to $54,300, resulting in liquidations totaling over $662.62 million. In the face of this decline, Michael Saylor, CEO of MicroStrategy and a prominent BTC advocate, has taken to social media to express his unwavering support for Bitcoin, emphasizing its significance as a symbol of independence, strategically timed for U.S. Independence Day on July 4. However, Peter Schiff, a…

Recently, Addentax Group Corp. (NASDAQ:ATXG), a company specializing in mailing, reproduction, commercial art, and photography services, made a significant financial move by amending the terms of its outstanding senior secured convertible note. The amendment extends the maturity date of the note by one year, providing the company with additional time to manage its financial obligations. The note, initially issued on January 4, 2023, had an original principal amount of $16,666,666.66 and was held by accredited investors. The extension of the maturity date reflects Addentax Group’s strategic decision to restructure its short-term debt obligations and alleviate immediate financial pressure. Market watchers…

Breaking News: U.S. Job Growth Slows in June, Signaling Cooling Labor Market Demand In a surprising turn of events, the U.S. economy added more jobs than expected in June, but the figure was lower than the previous month, indicating a potential slowdown in labor demand. According to Labor Department data, nonfarm payrolls came in at 206,000 last month, down from 218,000 in May. The May reading was also revised down significantly from an initial mark of 272,000. Economists had predicted the June number to be around 191,000, but the actual figure exceeded expectations. Despite the slight rise in nonfarm payrolls,…