Author: Multibagger News

Investing.com — Stock markets in the U.S. are due to be closed for the Independence Day holiday on Thursday. Elsewhere, minutes from the Federal Reserve’s June policy meeting suggest that the central bank’s members believe that while inflation is cooling, it is yet to show that it is on a sustainable downward trajectory. Meanwhile, voters in the U.K. head to the polls in a general election and U.S. President Joe Biden reiterates his intention to continue his bid for a second term in office. 1. U.S. stock markets to close for Independence Day holiday U.S. stock markets are due to be…

Japanese Financial Giants Unwind $3.3 Billion Honda Shareholdings: What It Means for Investors Major Financial Groups in Japan Shed Honda Shares Worth $3.3 Billion to Align with Corporate Governance Reforms TOKYO (Multibagger) – In a significant move towards enhancing corporate governance, top Japanese financial groups including Tokio Marine, Sompo, and two MS&AD units have announced the sale of Honda Motor shares worth 535 billion yen ($3.3 billion), as revealed by a regulatory filing on Thursday. Key Players in the Sale Mitsubishi UFJ and Mizuho, Japan’s largest and third-largest financial conglomerates respectively, are also joining this strategic sale. This marks a…

(Multibagger) – European shares climbed on Thursday boosted by optimism on interest rate cuts by the Federal Reserve after weak U.S. data, while London markets gained as voting began in the UK with opinion polls predicting a historic win for the Labour party. The pan-European index rose 0.3% by 0710 GMT, led by gains in the banking sector. Automobiles added 0.8%, mainly driven by German automotive supplier Continental jumping as much as 9.6%. The UK’s 100FTSE> advanced 0.5% as markets waited to see just how large a majority the Labour Party might get. Weak U.S. data boosted sentiment on rate…

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…