Author: Multibagger News

Investment Manager’s Top Picks for the 2024 U.S. Presidential Election In a highly anticipated and divisive election, Democratic President Joe Biden will face off against Republican former President Donald Trump on Nov. 5. Several third-party candidates are also in the running, making this election one to watch for investors. Trump, at 78 years old, survived an assassination attempt in July during a campaign rally in Pennsylvania, becoming the first major party candidate to experience such an incident since 1981. Despite this, Trump remains a formidable opponent, with a strong base of support and a controversial platform. Biden, on the other…

Unleashing the Power of AI Chatbots in Government Services: The Future of Efficient Public Service In the fast-paced world of technology, governments are exploring the potential of AI chatbots to revolutionize the way they interact with the public. Long before the emergence of ChatGPT, governments were already keen on using chatbots to automate their services and advice. However, the recent advancements in generative AI have brought a new wave of possibilities for more efficient public service. Generative AI is now sophisticated enough to provide human-like responses to a wide range of questions about government services. In the UK, the Government…

Elon Musk Wins in Court Case Over $500M Severance Payments Dispute – What Does This Mean for Your Finances? In a recent development, a US judge has dismissed a case brought by former Twitter staff against billionaire Elon Musk, alleging that he unlawfully denied roughly $500m in severance payments owed to workers fired after his takeover of the company. Judge Trina Thompson ruled in favor of Mr. Musk, stating that the employees had not proven their claims were protected by federal law. This victory for Musk comes after he purchased Twitter in 2022 and implemented significant changes, which included laying…

Bitcoin, the largest cryptocurrency by market value, has surged to $63,000, sparking excitement among investors. Renowned trader Peter Brandt has shared his insights on this bullish price movement. Bitcoin is on a winning streak, marking its fourth consecutive day of gains. Today, it reached highs of $63,293 after bouncing back from Friday’s lows of $56,538. Brandt believes that Bitcoin might be following a familiar pattern known as the “Hump Slump Bump Dump Pump” chart construction. This pattern consists of a series of phases – Hump, Slump, Bump, Dump, and Pump – that typically lead to significant price movements. Are Bitcoin…

Public Service Enterprise Group (PSEG) Announces $0.60 Quarterly Dividend for Q3 2024 – What Investors Need to Know In a recent press release, Public Service Enterprise Group (NYSE: PEG) declared a quarterly dividend of $0.60 per share for the third quarter of 2024. Shareholders as of September 9, 2024, will be eligible for this dividend, which is set to be paid by September 30, 2024. PSEG, a prominent energy company known for its focus on clean energy initiatives, has been recognized for its sustainability efforts and has made significant strides in the industry. The company’s subsidiaries, including Public Service Electric…

Powell Signals Rate Cuts as Inflation Data Boosts Fed Confidence In a recent speech, Federal Reserve Chairman Jerome Powell indicated that recent inflation data has increased the Fed’s confidence in bringing down inflation, hinting at possible rate cuts in the near future. Powell stated, “What increases that confidence in that is more good inflation data, and lately here we have been getting some of that,” during his address at the Economic Club of Washington D.C. The latest data shows that the Core PCE Price Index, the Fed’s preferred measure of inflation, remains above the Fed’s 2% target at 2.6%, despite…

Teamsters Union Considers Withholding Endorsement in 2024 Presidential Race: Potential Blow to Biden’s Campaign By Trevor Hunnicutt and Jarrett Renshaw WASHINGTON (Multibagger) – President Joe Biden’s re-election campaign faces a significant setback as the influential Teamsters Union, representing 1.3 million members, deliberates withholding its endorsement in the 2024 presidential race, sources reveal. Key Points: Teamsters Union’s Uncertainty: The International Brotherhood of Teamsters has yet to finalize a decision, expected in the coming weeks. Historical Context: If the union refrains from endorsing any candidate, it would be a first since 1996. Internal Divisions: Deep internal divisions within the union make an…

By Jamie McGeever ORLANDO, Florida (Multibagger) – Investor positioning in U.S. Treasury futures is stretching to extreme – and in some cases, record – levels that are likely to revive concerns about potential liquidity and stability risks in the world’s largest and most systemically important bond market. The growth in asset managers’ “long” and leveraged funds’ “short” positions comes as slowing inflation and cooling economic activity suggest the Fed will begin its interest rate-cutting cycle sooner rather than later. It’s unclear whether these moves are being driven by the so-called “basis trade”, where leveraged hedge funds arbitrage small price differences…

Trump’s VP Pick: Rubio and Burgum Out, Vance in Lead – Multibagger By Nathan Layne, Alexandra Ulmer and Steve Holland In a surprising turn of events, U.S. Senator Marco Rubio of Florida and North Dakota Governor Doug Burgum have both been informed that they will not be chosen as Republican presidential candidate Donald Trump’s running mate, according to inside sources reported by Multibagger on Monday. This decision has propelled Ohio U.S. Senator J.D. Vance to the forefront as the top contender for the vice presidential position. Advisers close to Trump had reservations about Rubio’s residency in Florida, citing the constitutional…

Title: BYD, China’s Top Electric Car Maker, Makes $1 Billion Deal to Build Plant in Turkey Amidst Global Expansion In a groundbreaking move, BYD, China’s leading electric car manufacturer, has secured a $1 billion deal to establish a state-of-the-art manufacturing plant in Turkey. This strategic decision marks a significant step in BYD’s relentless efforts to broaden its global footprint beyond its home country. The newly proposed facility in Turkey is poised to churn out an impressive 150,000 vehicles annually, as reported by Turkish state news agency Anadolu. This development is expected to not only bolster the local economy but also…