Author: Multibagger News

Bitcoin Price Plunges to Four-Month Low Amid Mt Gox Distribution Fears Bitcoin price took a sharp nosedive to hit a four-month low on Friday, with concerns about an impending distribution by defunct crypto exchange Mt Gox adding to the selling pressure on the token. German police were also seen transferring about $75 million of confiscated crypto from a piracy website to exchanges, fueling speculation of a mass sell-off. The world’s most popular cryptocurrency slid 8.5% in the last 24 hours to $54,092.3, marking its weakest level since March. Over the past week, Bitcoin has also dropped more than 11%. The…

China’s Energy Storage Boom: A Golden Opportunity for Investors By the World’s Best Investment Manager and Financial Market Journalist, Colleen Howe Introduction: Witness the rise of China’s energy storage sector with the unveiling of a groundbreaking 795 MW plant in Shandong province. This mega facility, capable of powering 150,000 households for a day, marks a significant milestone in China’s push towards renewable energy. Investment Opportunities: As China pours billions into grid-connected batteries, investors are taking notice. With a 364% surge in investment last year, the country now boasts the world’s largest storage fleet at 35.3 GW. The government’s ambitious target…

"Australia’s Grosvenor Mine Shutdown: What Investors Need to Know About the Extended Pay Deal Amidst Ongoing Fire Crisis" Breaking News for Investors: Australia’s Mining Sector Faces Disruption with Grosvenor Mine Shutdown, but Pay Deal Offers Temporary Relief (Multibagger) – In a critical development for stakeholders in Australia’s mining sector, the Mining and Energy Union has successfully negotiated an extension of pay with Anglo American (JO:) for workers affected by the shutdown of the Grosvenor mine. This agreement extends compensation until the end of August, following the mine’s closure due to an underground fire earlier this week. "We are pleased to…

By Amanda Cooper London (Multibagger) – The pound held firm on Friday after Keir Starmer’s centre-left Labour Party was expected to win a huge majority in the UK general election, affording investors some much-needed certainty after years of market volatility under the Conservatives. As of 0430 GMT on Friday, many results were still to be announced from Thursday’s vote, but Labour had won more than 326 of the 650 seats in parliament, with an exit poll suggesting it would capture about 410, and Conservative Prime Minister Rishi Sunak had conceded defeat. Sterling firmed slightly after the release of the exit…

Breaking News: Labour Party Surges to Victory in UK Election, Keir Starmer Vows Change as Next Prime Minister By Andrew MacAskill, Elizabeth Piper and Alistair Smout In a historic win, Keir Starmer’s Labour Party has secured a comprehensive victory in the UK parliamentary election, ending 14 years of Conservative rule. The centre-left Labour is set to win a massive majority in parliament, with Rishi Sunak’s Conservatives facing their worst performance in history. Starmer declared, "Change begins now," promising to end chaos and start the mission of national renewal. Despite facing daunting challenges like high taxes, falling living standards, and strained…

CATL and BYD Dominate Energy Storage Market – A Game Changer for Investors China’s top EV battery manufacturers, CATL and BYD, are capitalizing on the booming stationary energy storage market. CATL, in particular, has secured the top spot globally for energy storage battery deliveries since 2021, capturing over 40% of the market share. Its impressive performance in this sector is evident from the surge in deliveries for storage by 46.8% to 69 gigawatt-hours in 2023, outpacing its growth in EV batteries. On the other hand, BYD has also seen significant growth in its energy storage business, with a 57% increase…

Breaking News: U.S. Dollar Weakens as Pound Surges Ahead of UK Election Results By Ankur Banerjee and Sameer Manekar SINGAPORE (Multibagger) – The U.S. dollar is facing pressure near three-week lows on Friday, with all eyes on upcoming payroll data that could impact interest rate expectations. Meanwhile, the British pound remains strong as the Labour party is expected to secure a significant majority in the UK general election. Sterling is currently trading at $1.27705, close to a three-week high of $1.27765 reached earlier this week. The Labour party has already secured more than half of the seats in parliament, providing…

By Tetsushi Kajimoto A recent Multibagger poll indicates that Japan’s wholesale prices are expected to have accelerated in June, driven by a combination of factors such as a weak yen, higher commodity import bills, and increasing transportation costs. This surge in prices is putting pressure on the trade-reliant economy, leading to cost-push inflation. Additionally, the poll suggests that core machinery orders likely rebounded in May, offering relief to policymakers concerned about the outlook for capital expenditure. The corporate goods price index (CGPI) is expected to have risen by 2.9% in June from a year earlier, showing an acceleration compared to…

By Jessie Pang HONG KONG (Multibagger) – Prominent Hong Kong activist Joshua Wong should be considered an active participant in a landmark subversion case involving 47 democrats, his lawyer said on Friday, but urged a court to hand him a lighter sentence for entering his plea early. Wong, 27, who wore a gray sweater and navy blue shirt in court, was one of dozens of democratic activists arrested in 2021 for participating in an unofficial poll to select candidates for a 2020 legislative council election. Of these, 47 were charged with “conspiracy to commit subversion” under a national security law…

Investing.com News: Bitcoin Price Plunges to Four-Month Low Amid Mt Gox Distribution Fears In a dramatic turn of events, Bitcoin experienced a sharp decline to a four-month low on Friday, as concerns about an imminent distribution by the defunct crypto exchange Mt Gox intensified selling pressure on the token. German police were also observed transferring around $75 million worth of confiscated crypto from a piracy website to exchanges, potentially signaling a mass sell-off event akin to earlier this year. The price of Bitcoin plummeted by 8.5% in the past 24 hours to $54,092.3, marking its weakest level since March. Over…