Author: Multibagger News

(Multibagger) – The state of Alaska on Wednesday said it has filed a lawsuit challenging new federal regulations imposed for oil and gas leasing in the National Petroleum Reserve-Alaska (NPR-A). In April, President Joe Biden’s administration took steps to limit both oil and gas drilling and mining in Alaska. The regulations blocked development on 40% of NPR-A to protect wildlife habitat and indigenous communities’ way of life, but did not affect existing oil and gas operations. “The new rules were passed without proper input from affected parties, exceeded their congressional authorization and were rushed into place as an end-run on…

By Krishna N. Das and Shivam Patel NEW DELHI (Multibagger) – In the Vivekananda Camp slum, adjacent to the U.S. embassy in New Delhi, communal taps supply brackish water for about two hours a day. Water delivered by tankers provides one additional bucket to each of its 1,000 residents for drinking and cooking. In parts of the arid state of Rajasthan, southwest of the Indian capital, tap water is available once every four days for an hour. In rural areas near Mumbai, women and children travel more than a mile to get water. Bengaluru, India’s tech hub of 14 million…

Investing.com– Gold prices steadied at a 10-day high in Asian trade on Thursday after growing bets on interest rate cuts by the Federal Reserve pulled down the dollar and Treasury yields. But gold’s advance was stalled by hawkish signals from the minutes of the Fed’s June meeting, while anticipation of key nonfarm payrolls data kept traders cautious. rose 0.1% to $2,359.56 an ounce, while expiring in August fell 0.1% to $2,367.15 an ounce by 00:27 ET (04:27 GMT).  Gold benefits from rate cut bets, but caution persists  The yellow metal marked strong gains on Wednesday, tracking a sharp fall in…

A look at the day ahead in European and global markets from Wayne Cole. It’s been a generally upbeat day so far in Asia as softer U.S. data burnished the case for a September rate cut from the Federal Reserve. The main event in Europe will be the UK election, where the only real unknown is how super Labour’s majority will be. The bookies are odds on for Labour and even Tory ministers have conceded they are heading for a record thumping. It is possible that tactical voting could relegate the Conservatives to third place, which would make the centrist…

Investing.com– Bitcoin price fell sharply to a two-month low on Thursday, breaking past a key support level as uncertainty over several points of selling pressure, chiefly defunct exchange Mt Gox, saw traders remain averse towards the token.  The world’s biggest cryptocurrency took little support from weakness in the dollar, which fell amid increased bets on interest rate cuts by the Federal Reserve. Broader crypto prices also followed Bitcoin lower. fell 3.2% in the past 24 hours to $59,046.0 by 23:37 ET (03:37 GMT). The token had fallen as far as $58,055.4. Mt Gox, dumping fears batter Bitcoin Bitcoin was nursing…

(Multibagger) -AbbVie lowered its 2024 adjusted profit forecast on Wednesday, citing $937 million in milestones, and research and development expenses related to acquisitions. The drugmaker has been focusing on expanding its pipeline since its blockbuster arthritis drug, Humira, lost patent protection last year. The company expects annual adjusted profit in the range of $10.61 to $10.81 per share, compared with its previous forecast of $11.13 to $11.33, a regulatory filing showed. Analysts were expecting $11.25 per share, according to LSEG data. AbbVie (NYSE:) also cut its second-quarter adjusted profit to $2.53 to $2.57 per share from $3.05 to $3.09. The…

Investing.com– Most Asian currencies firmed on Thursday as increased expectations of interest rate cuts by the Federal Reserve dented the dollar, while a fragile yen kept traders on guard over potential government intervention. But gains in Asian currencies were tempered by hawkish signals from the minutes of the Fed’s June meeting, while anticipation of key payrolls data on Friday also kept sentiment cautious. Japanese yen gains some ground, but intervention concerns remain The Japanese yen took some relief from weakness in the dollar, with the pair falling 0.2% after nearly crossing the 162 level on Wednesday.  The pair was trading…

(Multibagger) -Amazon.com said on Wednesday it would discontinue its security robot, Astro for Business, for small- and medium-sized businesses as it shifts its focus to household robots. The e-commerce giant initially launched the canine-like robot for household use in 2021. Astro for Business was launched last November for a range of customers including retail, manufacturing, health and wellness. “To accelerate our progress and ongoing research to make Astro the best in-home robot, we’ve made the decision to wind down support for Astro for Business,” an Amazon (NASDAQ:) spokesperson told Multibagger in an emailed statement. The home robot was designed to…

By Wayne Cole SYDNEY (Multibagger) – Asia stocks hit 27-month highs on Thursday as softer U.S. data narrowed the odds on a September rate cut there, boosting bonds and commodities while dragging on the dollar. A holiday in the United States made for thin trading, as investors waited to see just how large a majority the Labour Party might get in the UK election. Markets are well prepared for a change given opinion polls have for months put the centre-left party on course for a landslide victory over the Conservatives. “The Labour party has relatively modest tax and spending plans,…

WASHINGTON (Multibagger) -The Democratic governors of New York, Minnesota and Maryland on Wednesday said they would support President Joe Biden’s reelection bid after a candid discussion with him about his weak performance in last week’s debate. “The president has always had our backs. We’re going to have his back as well,” Maryland Governor Wes Moore told reporters after a meeting with Biden and Vice President Kamala Harris at the White House that included 24 Democratic governors and the mayor of Washington, D.C., some joining online. Moore said the governors were frank in relaying negative feedback from constituents about Biden’s poor…