Author: Multibagger News

Inflation Above Fed’s 2% Target, But Improving: Powell Fed Chair Jerome Powell testified in Congress that inflation “remains above” the 2% target, but has shown improvement in recent months. More positive data could support the case for central bank interest rate cuts, Powell noted. The Fed’s confidence in easing monetary policy is growing as inflation trends in the right direction, Powell emphasized. Concerns about risks to the job market and economy if rates remain high for too long are also on the Fed’s radar, Powell added. Market Reaction: STOCKS: Slightly up after Powell’s comments BONDS: U.S. 10-year yield edged higher…

In a surprising turn of events, Hunter Biden has decided to withdraw his motion seeking a new trial on federal gun charges after government prosecutors pointed out that his motion was based on a misunderstanding of appellate practice. On June 11, Hunter Biden made history by becoming the first child of a sitting president to be convicted of a felony. A jury found him guilty on all three counts related to his lying about illegal drug use when he purchased a handgun in 2018. His lawyers had requested a new trial last month, claiming that a federal appeals court had…

Unveiling Cenntro Inc.’s Expansion in the U.S. West Coast Market with New Assembly Facility in California Cenntro Inc. (NASDAQ: CENN), a prominent electric commercial vehicle company, has recently launched a state-of-the-art assembly and distribution facility in Ontario, California. This move is part of the company’s strategic plan to strengthen its presence in the U.S. west coast market. The facility is now fully operational, focusing on producing Cenntro’s LS400 and Metro vehicle models. Since June 2024, the California facility has successfully assembled and delivered more than three dozen LS400 units to customers on the west coast. This development is crucial for…

During his recent testimony, Federal Reserve Chair Jerome Powell provided crucial insights into the central bank’s future monetary policy. Powell emphasized the importance of data in determining the timing of rate cuts and highlighted the need to restore price stability for the benefit of younger generations. One of the key points Powell made was the potential impact of a weakening labor market on policy decisions. He stressed the need to avoid sending premature signals about rate changes and reiterated the Fed’s focus on achieving 2% inflation. Additionally, Powell addressed concerns about commercial real estate risks and significant housing issues in…

Shein’s €250 Million Investment: A Game-Changer for the UK and European Fast Fashion Markets By Helen Reid and James Davey LONDON (Multibagger) – In a strategic move to strengthen its foothold in the UK and European markets, fast fashion giant Shein has announced a significant investment of €250 million ($271 million) over the next five years. This substantial financial commitment comes amidst ongoing criticisms of Shein’s business model, which relies heavily on shipping inexpensive clothing and accessories directly from Chinese factories to global consumers. Expanding Beyond China: Shein’s Diversification Strategy While Shein is gearing up for a potential London IPO,…

Former FTX Executives Scheduled for Sentencing in Fraud Case – What Investors Need to Know In a recent development, sentencing hearings have been set for two former executives of the bankrupt cryptocurrency exchange FTX who testified against founder Sam Bankman-Fried. Nishad Singh is scheduled for sentencing on Oct. 30, while Gary Wang will face sentencing on Nov. 20 in Manhattan federal court. Both individuals have pleaded guilty to fraud charges. Bankman-Fried, who was convicted last year of embezzling $8 billion from FTX customers, was sentenced to 25 years in prison earlier this year. This case has been described by prosecutors…

Uncover the Secrets of Financial Trading and Cryptocurrency Investing with Expert Advice Are you ready to take your investment game to the next level? As the world’s top investment manager and financial market journalist, I have the inside scoop on how to navigate the volatile world of cryptocurrencies and financial instruments. With high risks and potentially high rewards, it’s crucial to be fully informed before diving in. Cryptocurrency prices can fluctuate wildly due to external factors like financial events, regulations, and politics. Trading on margin can amplify these risks, so it’s important to carefully assess your risk tolerance and investment…

Unveiling California Water Service Group’s $1.6 Billion Infrastructure Plan for 2025-2027 In a groundbreaking move, California Water Service (NYSE:) has proposed a massive $1.6 billion infrastructure upgrade plan for its California districts from 2025 to 2027. This strategic proposal, recently submitted to the California Public Utilities Commission (CPUC), aims to revolutionize the water supply system by focusing on key areas such as pipeline replacement, water quality upgrades, and enhanced reliability during emergencies. The plan includes innovative projects to ensure water delivery efficiency, reduce dependency on the electric grid, and support lower-income customers through a unique Low-Use Water Equity Program. To…

The Ultimate Guide to Maximizing Your Investment Gains in July As the world’s leading investment manager, financial market journalist, and SEO mastermind, I bring you the latest insights on how to capitalize on the current market trends. In a surprising turn of events, the first trading week of July has brought even more gains for savvy investors who have positioned themselves in the right stocks. For our premium users, who have access to our state-of-the-art predictive model AI, the gains have been exceptional. For less than $8 a month as part of our exclusive summer sale, they have already reaped…

Ghana Cocoa Farmers Turn to Smuggling as Prices Fall and Payments Delay – Maxwell Akalaare Adombila In a dire situation for Ghana’s cocoa industry, low prices and payment delays are driving farmers to sell to sophisticated smuggling rings. This trend is siphoning off production from border areas and casting doubt on next season’s output. Despite a sharp increase in global cocoa prices due to poor weather and other factors, Ghana’s official prices for farmers have not kept pace. This discrepancy has allowed smugglers in neighboring Togo to pay more than double the official price, leading to a surge in trafficking.…