Author: Multibagger News

China’s People’s Bank Keeps Loan Prime Rate Unchanged Amid Economic Downturn In a move that is expected to stimulate economic growth, the People’s Bank of China decided to keep its benchmark loan prime rate unchanged at 3.35% on Friday. However, experts anticipate that the central bank will eventually trim the rate further as the country’s economic conditions continue to worsen. The loan prime rate, which is used to determine mortgage rates, was also left unchanged at 3.85%. This decision comes after the PBOC had previously cut the rate in July in an effort to boost economic conditions and support growth.…

Staffing 360 Solutions, Inc. Strengthens Financial Structure with Agreement Extension Staffing 360 Solutions, Inc. (NASDAQ:STAF) has made a significant move to enhance its financial position by extending the maturity dates of certain notes in an agreement with Jackson Investment Group, LLC. This strategic decision aims to provide more flexibility for the company’s future operations and strengthen its overall financial structure. The Amendment Agreement with Jackson Investment Group, LLC extends the maturity date of the Third Amended and Restated Note and Warrant Purchase Agreement to January 13, 2025. This agreement, initially dated October 27, 2022, and previously amended on August 30,…

A-Mark Precious Metals CFO Sells Major Stock Holdings: What It Means for Investors Kathleen Taylor-Simpson, the Chief Financial Officer of A-Mark Precious Metals, Inc. (NASDAQ: AMRK), recently offloaded a significant portion of her company shares. The latest SEC filings reveal that on September 18, 2024, Taylor-Simpson sold shares worth approximately $1,099,380, with individual sale prices ranging between $43.39 and $45.09. These sales were disclosed in a Form 4 filing with the SEC on September 19, 2024. The shares were sold at weighted average prices across multiple transactions. In addition to these sales, Taylor-Simpson exercised stock options to acquire shares at…

Investors Alert: British Employers Expected to Scale Back Pay Increases in 2025 – How Will This Impact Your Finances? As the top investment manager in the world, I have exclusive insights into the latest survey conducted by Incomes Data Research revealing that British employers are planning to offer smaller pay increases next year. This news is likely to please the Bank of England as it looks for signs that inflation pressures are easing in the economy. According to the survey, almost two-thirds of employers are planning to scale back pay rises in 2025 compared to 2024. This trend indicates a…

Granite REIT to Dissolve Stapled Unit Structure: What Investors Need to Know Granite Real Estate Investment Trust (REIT) and Granite REIT Inc. have announced plans to dissolve their current stapled unit structure. This move, detailed in a recent filing with the United States Securities and Exchange Commission, is set to take effect in September 2024. The decision to streamline operations by separating the REIT and its subsidiary has implications for investors and stakeholders. Teresa Neto, the CFO of both entities, signed off on the filing, emphasizing the financial significance of this corporate maneuver. Granite REIT’s commitment to transparency is evident…

In the world of financial markets, oil prices were relatively stable in early Asian trading on Friday, but are poised to finish the week on a positive note. This comes after a significant reduction in U.S. interest rates and a decrease in global oil stockpiles. At the moment, Brent futures are down 0.3% at $73.69 a barrel, while WTI is up 6 cents at $72.01 a barrel. Despite this slight dip, both benchmarks have seen gains of 4.3% and 4.8% respectively for the week. After hitting near three-year lows on September 10, oil prices have been on the rebound, with…

Disney Animation Studios Appoints Jared Bush as New Chief Creative Officer: What This Leadership Change Means for Investors (Multibagger) – Walt Disney Animation Studios (NYSE: DIS) has announced a pivotal leadership change, appointing Academy Award-winning filmmaker Jared Bush as its new Chief Creative Officer, effective immediately. Bush, the creative genius behind blockbuster hits such as "Encanto," "Zootopia," and the original Oscar-nominated "Moana," succeeds Jennifer Lee, who will now focus on directing and writing for the immensely popular "Frozen" franchise. Lee, who joined Disney in 2011 and has served as CCO since 2018, will direct "Frozen 3" and co-write "Frozen 4"…

China Stuns Markets by Holding LPR Rates Steady Despite Fed Rate Cut In a surprising move, China decided to keep its benchmark lending rates unchanged at the monthly fixing, defying expectations set by the Federal Reserve’s recent interest rate cut. The one-year loan prime rate (LPR) remains at 3.35%, while the five-year LPR holds steady at 3.85%. A recent Multibagger survey of 39 market participants revealed that the majority had anticipated a cut in both rates, with 69% expecting a reduction. Most new and existing loans in China are tied to the one-year LPR, while the five-year rate impacts mortgage…

The Shocking Incident in Rural Kentucky: Sheriff Arrested for Killing District Court Judge In a stunning turn of events, Letcher County Sheriff Mickey Stines, 43, was arrested for the shooting death of District Judge Kevin Mullins, 54, inside the courthouse. The motive behind the tragic incident remains unclear, but Stines has been charged with first-degree murder. Kentucky Governor Andy Beshear expressed his dismay at the violence, calling for a better tomorrow. Attorney General Russell Coleman vowed to seek justice, collaborating with special prosecutors on the case. The Kentucky Court of Justice pledged full support to state police in their investigation.…

NETSTREIT Corp. Announces Executive Change Amidst Market Dynamics – What Investors Need to Know In a recent SEC filing, NETSTREIT Corp., a leading real estate investment trust based in Dallas, reported a significant executive change. Patricia Gibbs, the Senior Vice President and Chief Accounting Officer, has announced her resignation to pursue another opportunity, effective October 11, 2024. The company assured stakeholders that her departure is not due to any financial disagreements. Gibbs, who has been the principal accounting officer, will continue her duties until the departure date. NETSTREIT Corp. will conduct a national search to find a suitable replacement. In…