Author: Multibagger News

By Elida Moreno and Lizbeth Diaz PANAMA CITY (Multibagger) – An agreement between Panama and the United States to try to deter migrants from crossing the treacherous Darien jungle, by repatriating those that enter the Central American country illegally, is unlikely to succeed and could make journeys even more dangerous. Analysts said the plan announced on Monday, in which Washington agreed to cover the cost of repatriating migrants, would struggle in the face of the vast numbers of people currently arriving in Panama. And any success in bringing down the number of people crossing the Darien would likely only result…

Saba Capital Management, L.P., a significant shareholder in Adams Natural Resources Fund, Inc. (NYSE:PEO), has made a notable addition to its investment in the company. On July 2, 2024, the investment firm purchased 4,369 shares of common stock at a price of $23.5 per share, amounting to a total investment of $102,671. The transaction was disclosed in a recent filing with the Securities and Exchange Commission. This purchase further increases Saba Capital Management’s holdings in the company, now owning a total of 2,729,666 shares. Adams Natural Resources Fund, Inc., which trades under the ticker symbol PEO, is known for its…

Investing.com – Democratic President Joe Biden and Republican former President Donald Trump are set to face each other in the U.S. presidential election on Nov. 5. However, what is expected to be a divisive, and closely fought contest has resulted in uncertainty for the markets. USA Election 2024 Polling over the last several weeks has shown a close presidential election, with President Biden narrowly but consistently trailing former President Trump in national polling and, more importantly, in the key swing states likely to deliver the marginal electoral votes to the winner. The first presidential debate injected new uncertainty into the…

Investing.com– The S&P 500 notched another record close Wednesday, in a holiday-shortened session as a slew of weaker economic data boosted hopes for sooner rate cuts, a day ahead of the July 4 holiday. At 13:00 ET (17:00 GMT), the climbed 0.5% to new closing record of 5,534.63. The fell 24 points, or 0.1%, t and the jumped 0.8%, higher to fresh record close.  The main Wall Street indices are set for a shortened trading day on Wednesday ahead of Thursday’s Independence Day holiday, and come off strong gains on Tuesday after Federal Reserve Chair Jerome Powell flagged some progress in cooling…

By Anant Chandak BENGALURU (Multibagger) – Growth in India’s dominant services industry accelerated last month, buoyed by strong demand and a record rise in export orders, according to a business survey that also showed companies were hiring at the fastest in nearly two years. HSBC’s India Services Purchasing Managers’ Index, compiled by S&P Global, rose to 60.5 in June from 60.2 in May, close to a Multibagger poll median forecast of 60.6 and a preliminary reading of 60.4. It has been above 50, which separates growth from contraction, for nearly three years. “Activity growth in India’s service sector accelerated in…

(Multibagger) – A U.S. judge on Wednesday blocked the Biden administration from enforcing a new rule against discrimination on the basis of gender identity in healthcare. U.S. District Judge Louis Guirola of the Southern District of Mississippi sided with 15 Republican-led states that sued to challenge the rule, arguing that it exceeded the administration’s authority. Source link

Optical Cable Corporation (NASDAQ:OCC), a manufacturer of a range of fiber optic and data communication cabling and connectivity solutions, has entered into an agreement with North Mill Capital LLC, extending its credit facility until July 24, 2027. This extension adds two years to the existing agreement, which was set to expire in 2025. The modification, dated June 27, 2024, amends the Loan and Security Agreement originally executed on July 24, 2020, and subsequently modified on July 5, 2022. The agreement increases the Eligible Inventory maximum and modifies some other terms and conditions. Under the new terms, the credit facility remains…

(Multibagger) – Amazon (NASDAQ:) founder and executive chair Jeff Bezos is planning to sell almost $5 billion worth of shares in the e-commerce giant, a regulatory filing showed, after its stock hit a record high. The proposed sale of 25 million shares was disclosed in a notice filed after market hours on Tuesday. The stock had hit an all-time high of $200.43 during the session. It has jumped more than 30% so far this year, outpacing the 4% gain in the index. After the sale plan, Bezos would own about 912 million Amazon shares, or 8.8% of the outstanding stock.…

By Huw Jones LONDON (Multibagger) -Global banking regulators have approved templates for banks to disclose their exposure to crypto assets from January 2026, they said on Wednesday, a year later than originally indicated. “These disclosures aim to enhance information availability and support market discipline,” the Basel Committee on Banking Supervision said in a statement. The committee, made up of banking regulators from the world’s main economies who commit to applying agreed standards, discussed the prudential or impact on capital of tokenised deposits and stablecoins, a cryptocurrency backed by an asset such as the dollar. Based on current market developments, risks…

According to a report from the New York Times, US President Joe Biden is “seriously considering withdrawing” from the presidential election race. The publication reported Wednesday that Biden told a key ally that he is aware he may not be able to salvage his candidacy if he is unable to convince the public that he is up for the job over the next few days. It follows a disastrous performance from the president in last week’s first presidential debate against presumptive Republican nominee, Donald Trump. The NYT said Biden’s ally emphasized that Biden is still “deeply in the fight for re-election.”…