Author: Multibagger News

Bank of Israel Stays Committed to Digital Currency Plans, Waiting for ECB to Lead the Way In a recent interview with Multibagger, Bank of Israel Deputy Governor Andrew Abir confirmed the bank’s dedication to implementing a digital currency to enhance the country’s payments system and drive innovation. However, the launch of a digital shekel is unlikely to happen before other advanced economies make a move. As of March, 134 countries, accounting for 98% of the global economy, are exploring digital versions of their currencies with the aim of eventually phasing out cash. While countries like China are in advanced stages…

Investing.com: U.S. Stock Futures Steady After Record Highs, Powell Comments As the world’s best investment manager and financial market journalist, I bring you the latest update on the U.S. stock futures after hitting new record highs and ahead of more comments from Fed Chair Jerome Powell. At 06:45 ET (10:45 GMT), the S&P 500 traded flat, the Dow Jones gained 10 points, or 0.2%, and the Nasdaq rose 60 points, or 0.3%. The S&P 500 and the Nasdaq reached fresh record highs on Tuesday, with a focus on technology stocks amid hype over artificial intelligence. Powell’s testimony before the Senate…

China and Brazil to Collaborate on Sustainable Beef Production Pilot Scheme In a groundbreaking move, China, the world’s largest beef importer, and Brazil, the biggest supplier, are joining forces to establish a pilot scheme aimed at making beef production more sustainable. This initiative comes in response to the growing concern over the environmental impact of beef production, particularly in Brazil where deforestation for agricultural purposes has been a major issue. According to state media reports, China’s State Administration for Market Regulation has held discussions with Brazilian institutions to explore ways to enhance transparency in the beef supply chain. The two…

Why Most U.S. Patients Abandon Novo Nordisk’s Wegovy & Ozempic for Weight Loss: A Financial and Health Impact Analysis By Chad Terhune Overview Recent data reveals that only one in four U.S. patients prescribed Novo Nordisk’s Wegovy or Ozempic for weight loss continue these medications after two years. This trend, uncovered through an analysis of U.S. pharmacy claims, has significant implications for patients, healthcare providers, and financial stakeholders alike. Key Findings Patient Adherence: Only 25% of patients adhered to their Wegovy or Ozempic prescriptions after two years, down from 32% after one year. Rising Costs: GLP-1 receptor agonists like Wegovy…

Read the latest update on Zimbabwe’s economic growth forecast as Finance Minister Mthuli Ncube reveals the impact of a severe drought on crop yields. Find out why growth is expected to recover in 2025 despite challenges. As the world’s best investment manager and financial market journalist, I bring you exclusive insights into Zimbabwe’s economic outlook. Finance Minister Mthuli Ncube recently announced a downward revision in the country’s economic growth forecast for 2024, citing a devastating drought as the primary cause. The El Niño-induced drought has led to widespread crop failure, impacting not only Zimbabwe but also neighboring countries like Zambia…

By the World’s Best Investment Manager, Financial Market’s Journalist, and SEO Mastermind CAIRO/GAZA – An Israeli missile struck a tent encampment in southern Gaza during a football match, resulting in the death of at least 29 people, mostly women and children. Eyewitnesses described a scene of chaos and devastation as spectators gathered to watch the game in Abassan. According to Palestinian officials, the incident occurred as hawkers sold smoothies and biscuits on the school grounds where the match was taking place. The Israeli military claimed the strike was targeted at a Hamas fighter involved in a previous raid on Israel.…

In a groundbreaking session at the Point Zero Forum 2024 in Zurich, Switzerland, Bybit’s CEO Ben Zhou showcased the pivotal role of digital assets in reshaping the future of finance. As the world’s second-largest crypto exchange by trading volume, Bybit continues to drive innovation and bridge the gap between traditional finance and the crypto world. Key Takeaways: Zhou emphasizes user experience for mainstream crypto adoption Bybit collaborates with local players to integrate crypto in developing economies Launch of Hong Kong’s ETF allows real-world asset integration for crypto holders Bybit explores Real World Asset (RWA) tokenization for traditional assets Engagement with…

Freshworks Inc (NASDAQ:FRSH) Price Target Adjusted to $17 by Canaccord Genuity – What Does This Mean for Investors? In a recent update, Canaccord Genuity has adjusted its price target for Freshworks Inc (NASDAQ:FRSH) to $17, down from the previous target of $20. Despite the decrease, the firm maintains a Buy rating on the stock. The adjustment reflects the perception that Freshworks is trading at a lower risk compared to its peers, based on its current valuation, operational metrics, and overall potential. Canaccord Genuity sees Freshworks as a low-risk opportunity in the small to mid-cap (SMID) software sector. While the downside…

Bank of America Analysts Discuss Possibility of EUR/USD Parity in Rare Scenario Bank of America analysts have addressed speculation about the EUR/USD exchange rate potentially reaching parity, emphasizing that such an event is historically rare and short-lived. According to their analysis, except for the dot-com bubble burst cycle, the likelihood of the currency pair trading at or below parity is virtually nonexistent based on quarterly data. The future trajectory of the EUR/USD, as outlined by the analysts, will be influenced by a delicate balance of factors. These factors include the tension between unsustainable debt levels and perceived U.S. economic strength,…

Prime Day Frenzy: How Retail Giants Are Starting Back-to-School Promotions Early to Outpace Amazon By Arriana McLymore and Siddharth Cavale NEW YORK (Multibagger) – While children may wish for an endless summer, major retailers like Walmart, Target, and Shein are racing to kick off the back-to-school season earlier than ever in a bid to outmaneuver Amazon’s Prime Day. In a strategic move to capture early parental spending, these retail giants are launching promotions on sneakers, computers, kids’ clothing, and backpacks well ahead of Amazon’s Prime Day, scheduled for July 16 and 17. Retail Giants Gear Up for Early Promotions Despite…