Author: Multibagger News

By Andy Bruce According to surveys released on Tuesday, British consumer spending took a hit in June, primarily due to unfavorable weather conditions. This latest data adds to the recent indicators of the country’s sluggish economic growth, which the new Labour government is aiming to revive. Barclays reported a 0.6% decline in spending on its credit and debit cards in June compared to the same period last year, marking the first drop since February 2021. The bank attributed this decrease to the cool weather experienced at the beginning of the month. Karen Johnson, Head of Retail at Barclays, emphasized the…

President Joe Biden speaks out against the horrific Russian missile strikes in Ukraine, including on a children’s hospital in Kyiv, calling it a brutal reminder of Russia’s aggression. Learn more about the impact of these attacks and the response from world leaders. By Kanishka Singh WASHINGTON (Multibagger) – U.S. President Joe Biden said on Monday that deadly Russian missile strikes in Ukraine, including on the main children’s hospital in Kyiv, were “a horrific reminder of Russia’s brutality.” WHY IT’S IMPORTANT Russia blasted the hospital in Kyiv with a missile in broad daylight on Monday and rained down missiles on other…

Breaking News: Mt. Gox Bankruptcy Redemption Sparks Selling Pressure on Bitcoin and BCH Prices In a recent note from Kaixo Research, fears of selling pressure stemming from Mt. Gox’s bankruptcy redemptions are proving to be valid. The former exchange is set to return approximately $9.5 billion in BTC and 143,000 BCH, worth around $73 million, to its customers. This announcement has created uncertainty in the market as investors contemplate selling their holdings. Kaixo Research has reported that selling pressure on BCH intensified on exchanges like Binance and OKX even before the official announcement. This pressure was most noticeable at the…

A.O. Smith Corporation (NYSE: AOS) Declares Regular Quarterly Cash Dividend of $.32 Per Share, Reflecting Strong Financial Health and Commitment to Shareholder Value A.O. Smith Corporation, a global leader in water heating equipment and water treatment products, has announced a regular quarterly cash dividend of $.32 per share for both its Common Stock and Class A Common Stock. Scheduled to be paid on August 15 to shareholders on record as of July 31, 2024, this dividend declaration showcases A.O. Smith’s 150 years of business excellence and dedication to innovation. As a listed company on the New York Stock Exchange, A.O.…

Purdue Pharma Creditors Seek to Sue Sackler Family Amid Renewed Bankruptcy Settlement Talks By Dietrich Knauth NEW YORK (Multibagger) – In a dramatic turn of events, creditors of Purdue Pharma are petitioning a U.S. bankruptcy court for the green light to sue the company’s affluent owners, the Sackler family. This move aims to leverage litigation as a negotiating tool while Purdue Pharma re-engages in settlement discussions over the opioid crisis sparked by its flagship drug, OxyContin. Supreme Court Ruling Shakes Up Prior Settlement The U.S. Supreme Court recently nullified a previous bankruptcy settlement, ruling that it couldn’t shield the Sackler…

Archegos Capital Management Trial: Lies and Manipulation Cause $36 Billion Fund Collapse By the World’s Best Investment Manager, Financial Market’s Journalist, and SEO Mastermind The 2021 collapse of Sung Kook “Bill” Hwang’s Archegos Capital Management was driven by “lies and manipulation,” a federal prosecutor told a Manhattan jury on Monday at his criminal trial over the $36 billion private investment fund’s failure. Jurors heard closing arguments from the prosecution and defense in Manhattan federal court in the trial of Hwang and Patrick Halligan, his Archegos deputy and co-defendant. The jury is expected to begin deliberations on Tuesday. The trial centers…

The Russian Navy’s Black Sea Fleet Forced to Retreat from Crimea, Ukraine’s Navy Chief Reveals By Tom Balmforth In a rare interview in Odesa, Ukraine’s navy chief, Vice-Admiral Oleksiy Neizhpapa, disclosed that Ukrainian missile and naval drone strikes have severely damaged the Russian navy’s main hub in Sevastopol, Crimea. As a result, the Russian navy has been forced to relocate its combat-ready warships from Crimea to Novorossiisk and the Sea of Azov. This strategic shift comes after more than 28 months of conflict between Ukraine and Russia, with Ukraine using uncrewed naval boats and missiles to target Russian vessels and…

Breaking News: Bitcoin Whale Awakens After 13 Years, Making a 400179% Profit! In a surprising turn of events, a long-dormant Bitcoin address containing 48 BTC, valued at $2.57 million, has been activated after 13 years of inactivity. This address originally received the coins when Bitcoin was priced at just $13.7 per BTC, resulting in an astonishing 400179% gain. The reactivation of such long-dormant addresses often raises concerns among market participants, as it could indicate that the holders are preparing to liquidate their assets. This could potentially flood the market with significant amounts of Bitcoin, leading to increased selling pressure. This…

Exclusive: Six Flags Announces Major Executive Changes Post-Merger with Cedar Fair In a groundbreaking SEC filing, Six Flags Entertainment Corporation/NEW (NYSE:FUN) reveals significant leadership shake-ups following its recent merger with Cedar Fair (NYSE:). Selim Bassoul takes the reins as Executive Chairman, with a lucrative compensation package that includes a $1.55 million base salary, a 150% target bonus, and $1.5 million in restricted stock. The merger also involves unique arrangements for key officers, setting the stage for a new era of growth and innovation in the amusement park industry. Bassoul’s employment agreement, effective July 1, 2024, outlines generous severance benefits in…

NYU Settles Landmark Antisemitism Lawsuit: What It Means for University Campuses and Your Investments By Jonathan Stempel NEW YORK (Multibagger) – In a significant legal development, New York University (NYU) has settled a lawsuit filed by Jewish students alleging the institution failed to address antisemitism on campus. The terms of the settlement, reached on Monday, remain undisclosed. A scheduled court hearing on Tuesday to discuss NYU’s motion to dismiss the case was canceled, according to court records. Key Points of the Settlement: Settlement Terms: Details remain confidential. Court Hearing Canceled: Tuesday’s hearing in Manhattan federal court was called off. No…