Author: Multibagger News

UBS Initiates Buy Rating on Mitra Adiperkasa Stock, Target Price IDR1,850.00 UBS, a leading investment firm, has just initiated coverage on Mitra Adiperkasa (MAPI:IJ) (OTC: PMDKF) stock, a top lifestyle retailer in the ASEAN region. With a Buy rating and a price target of IDR1,850.00, UBS is bullish on the company’s future prospects. Mitra Adiperkasa is well-known for its strong presence in the sportswear retail segment and its partnerships with global fashion brands. The company also holds majority stakes in MAP Aktif (MAPA.JK) and MAP Boga (MAPB.JK), which operate popular food and beverage brands in Indonesia. Despite facing challenges such…

Bitcoin Hits Two-Month Low Amid U.S. Election Uncertainty and Mt. Gox Sell-Off Rumors By Sameer Manekar (Multibagger) – Bitcoin has plummeted to a two-month low, extending a month-long downward trend, as uncertainty surrounding the U.S. presidential elections and reports of potential Bitcoin sell-offs from the defunct Tokyo-based crypto exchange, Mt. Gox, weigh heavily on the market. Key Highlights: Bitcoin’s Decline: Bitcoin dropped more than 2% to $57,843, marking its lowest point since May 2. The cryptocurrency has shed over 6% this week alone. Political Uncertainty: The recent U.S. presidential debate has intensified concerns, particularly with the possibility of Joe Biden…

German Industrial Orders Fall Unexpectedly in May, Adding to Signs of Economic Downturn In a surprising turn of events, German industrial orders experienced a fifth consecutive drop in May, indicating that the manufacturing sector in Europe’s largest economy may not see a recovery in the near future. According to the federal statistics office, orders were down by 1.6% on a seasonally and calendar-adjusted basis, contrary to analysts’ expectations of a 0.5% rise. Excluding large-scale orders, new orders fell by 2.2% in May compared to the previous month, with a three-month comparison showing a 6.2% decline. “The downward trend is still…

By Nathan Layne, Tim Reid, Alexandra Ulmer and James Oliphant Donald Trump’s campaign and allies are gearing up to discredit Vice President Kamala Harris amidst rumors of her potentially replacing President Joe Biden on the 2024 Democratic ticket. With an eye on the future, Trump’s camp is strategically attacking Harris to weaken her candidacy if she were to become the nominee, should Biden step down after his recent lackluster debate performance. The escalating criticism from Republicans towards Harris, labeling her as incompetent and Biden’s “enabler in chief,” is part of a coordinated effort to undermine her credibility in the event…

Federal Reserve Poised for Triple Rate Cuts in 2024 Amid Weakening Economy and Softening Jobs Market: ING Analysis ING Analysts Predict Triple Rate Cuts in 2024: What It Means for Your Finances In a bold forecast, ING analysts have indicated that weakening economic data and a softening jobs market could drive the Federal Reserve to cut interest rates three times in 2024. This expectation surpasses both the Fed’s own projections and prevailing market expectations. Economic Data Indicates Broad-Based Weakness The ISM services index, a critical economic indicator, has shown a concerning decline, hitting a four-year low in June. ING describes…

EU Imposes Provisional Duties on Chinese EVs, Risking Beijing Retaliation The European Commission will impose provisional duties on Chinese-made electric vehicles (EVs) imported into the European Union, with rates ranging from 17.4% to 37.6%. These duties, on top of the standard 10% tariff for car imports, come in response to an anti-subsidy investigation aimed at preventing injury to EU industry. Provisional duties can last up to nine months, after which the Commission will decide on final duties. Interested parties, including China and EV producers, have until July 18 to comment on the ongoing investigation. The final report is expected to…

By Yassin Kombi In a dramatic turn of events, twenty-five soldiers have been sentenced to death by a military tribunal in the Democratic Republic of Congo for fleeing battles against M23 rebels and theft. This development has sent shockwaves through the region, as Congo’s army continues to battle insurgency and militia violence, with millions displaced within North Kivu province. The soldiers were detained after abandoning their positions and were found stealing goods from local shops. The military tribunal wasted no time in trying them, with the majority being sentenced to death for various charges including theft, fleeing the enemy, and…

Top Investment Manager Reveals: U.S. Stock Markets to Close for Independence Day Holiday, Fed Minutes Show Easing Price Pressures, U.K. Election Polls Open, Biden Vows to Stay in Race, Oil Prices Fall As the world’s best investment manager and financial market journalist, I bring you the latest updates on the financial landscape. U.S. stock markets are set to close for the Independence Day holiday, with record highs reached in the previous session. The Federal Reserve’s minutes indicate a cooling in inflation but caution on interest rate cuts. The U.K. election and Biden’s reelection bid add to the political drama. Oil…

EU Imposes Up to 37.6% Tariffs on Chinese Electric Vehicles: What This Means for Global Markets and Your Investments By Philip Blenkinsop and Charlotte Van Campenhout BRUSSELS (Multibagger) – The European Union is set to impose tariffs as high as 37.6% on imports of electric vehicles (EVs) made in China starting this Friday, according to EU officials. This move escalates tensions with Beijing and marks Brussels’ largest trade case to date. Key Highlights: Provisional Tariffs: The tariffs, ranging from 17.4% to 37.6%, will be provisional for four months, during which intensive negotiations are expected to continue. Reason for Tariffs: The…

FRANKFURT (Multibagger) – In a recent statement, ECB chief economist Philip Lane revealed that both the ECB’s wage tracker and feedback from corporations indicate a cooling trend in wage pressures. Lane predicts that this trend will continue into next year and 2026. During a lecture in Naples, Lane explained, “The reason why we think inflation will come down next year is that this is the last year of high wage increases and the wage increases will look more normal.” Firms directly surveyed by the ECB are also expecting a significant slowdown in wage growth, aligning more closely with figures that…