Author: Multibagger News

singapore, singapore, July 4th, 2024, Chainwire Piggycel, a IoT-based blockchain RWA project, has secured investment from the global mainnet Internet Computer (ICP) and joined the ICP Olympus accelerator program. Piggycell is a blockchain RWA platform that users can expereince IoT based Charge To Earn (C2E) while charing their bateries. It is a decentralized platform linked to the No. 1 power bank sharing service in Korea, Piggycell, which has over 3 million users. The ICP Olympus program, announced in April 2024, is an accelerator program for the global 24th ranked (on Coinmarketcap data as of June 23, 2024) L1 mainnet operated…

Ericsson’s $1 Billion Impairment of Vonage Acquisition: What Investors Need to Know By Supantha Mukherjee STOCKHOLM (Multibagger) – Ericsson Faces $1.1 Billion Impairment Charge on Vonage Acquisition, Shares Drop 2% Telecom giant Ericsson (BS:) has announced a significant $1.1 billion impairment charge related to its 2021 acquisition of cloud communications firm Vonage. This financial hit has resulted in a 2% drop in Ericsson’s share price during early trading. The Background: Ericsson’s Ambitious $6.2 Billion Vonage Deal In one of its largest transactions ever, Ericsson shelled out a massive $6.2 billion in cash to acquire Vonage. The strategic move aimed to…

By Cynthia Kim and Yena Park SEOUL (Multibagger) – South Korea should try to address the country’s high cost of living through structural reforms instead of relying on the central bank to fight it, a Bank of Korea official said, as the bank mainly targets inflation rather than price levels. “Targeting price level rather than the inflation rate could end up increasing volatilities to inflation and the economy as monetary policies would be responding backwardly to price trends,” Senior Deputy Governor Ryoo Sangdai said in a written response to Multibagger’ queries. Ryoo, a voting board member, was responding to whether the central…

By Nicoco Chan SHANGHAI (Multibagger) – It was a dream wedding, complete with picturesque outdoor setting, white lace gown and a delectable cake. The perfect day for golden retrievers – Bree and Bond – to tie the knot in front of their closest human and canine friends. Pet weddings are on the rise in China, where government policies have had little success in encouraging more humans to wed in this fast-ageing society where the population is declining and marriage and birth rates remain low. The popularity of pets and an increasing willingness to splurge on them are driving the trend.…

TOKYO (Multibagger) – Japan faces a shortage of almost one million foreign workers in 2040 if the government wants to achieve its economic growth goals as the population dwindles, an estimate from a state-backed think tank showed on Thursday. At the current pace, 5.91 million foreign people will be working in Japan in 2040, almost one million short of the foreign workforce needed to sustain the targeted average annual growth rate of 1.24%, the Japan International Cooperation Agency (JICA)’s research arm said. The demand-supply gap in foreign labour widened more than twofold from JICA’s previous estimate in 2022, after the…

By John Davison, Emma Farge and Nidal al-Mughrabi (Multibagger) – Mohammed describes a delivery job from hell. “I get screwed on every shipment,” the Gazan trader told Multibagger. He said he has to fork out more than $14,000 for each truck of food he brings into the besieged enclave to pay sky-high transport costs, bribes to middlemen and protection from looters. That’s up from $1,500-$4,000 before the war began in October. “It’s barely worth my while. But I need food, my neighbours need food, the whole of Gaza needs food.” Mohammed said he doesn’t like it, but he’s forced to…

U.Today – has failed to regain a foothold above the $63,000 mark, which led to a move toward $61,000. Unfortunately, this outcome opens up a pathway for a plunge below $60,000. As of right now, Bitcoin is trading slightly above the crucial support level at about $60,885, according to the chart. While the 100 EMA at $63,754 and the 200 EMA at $58,260 are closer to the current price and offer support and resistance levels, the 50 EMA at $66,407 provides far-off resistance. More selling pressure may be applied to Bitcoin if it is unable to close above $63,000. There…

(Multibagger) – The state of Alaska on Wednesday said it has filed a lawsuit challenging new federal regulations imposed for oil and gas leasing in the National Petroleum Reserve-Alaska (NPR-A). In April, President Joe Biden’s administration took steps to limit both oil and gas drilling and mining in Alaska. The regulations blocked development on 40% of NPR-A to protect wildlife habitat and indigenous communities’ way of life, but did not affect existing oil and gas operations. “The new rules were passed without proper input from affected parties, exceeded their congressional authorization and were rushed into place as an end-run on…

By Krishna N. Das and Shivam Patel NEW DELHI (Multibagger) – In the Vivekananda Camp slum, adjacent to the U.S. embassy in New Delhi, communal taps supply brackish water for about two hours a day. Water delivered by tankers provides one additional bucket to each of its 1,000 residents for drinking and cooking. In parts of the arid state of Rajasthan, southwest of the Indian capital, tap water is available once every four days for an hour. In rural areas near Mumbai, women and children travel more than a mile to get water. Bengaluru, India’s tech hub of 14 million…

Investing.com– Gold prices steadied at a 10-day high in Asian trade on Thursday after growing bets on interest rate cuts by the Federal Reserve pulled down the dollar and Treasury yields. But gold’s advance was stalled by hawkish signals from the minutes of the Fed’s June meeting, while anticipation of key nonfarm payrolls data kept traders cautious. rose 0.1% to $2,359.56 an ounce, while expiring in August fell 0.1% to $2,367.15 an ounce by 00:27 ET (04:27 GMT).  Gold benefits from rate cut bets, but caution persists  The yellow metal marked strong gains on Wednesday, tracking a sharp fall in…