Author: Multibagger News

Elliott Investment Management Acquires 10% Stake in Southwest Airlines: Implications for Investors and Potential Leadership Shake-Up By Svea Herbst-Bayliss NEW YORK (Multibagger) – Elliott Investment Management, a prominent hedge fund, has crossed a significant threshold by acquiring 10% of Southwest Airlines (NYSE: LUV) common stock, allowing it to call a special shareholder meeting, according to sources familiar with the matter. The Stakes Are High: A Detailed Overview This strategic move by Elliott comes just days before a scheduled meeting on September 9, where both parties will discuss solutions to the issues that have led to Southwest’s stock plummeting by approximately…

According to surveys, British consumer spending saw a modest increase in August, driven by purchases of food and drink during sunny weather. Barclays reported a 1.0% year-on-year rise in consumer spending on its credit and debit cards, breaking a two-month decline trend. The British Retail Consortium also noted a 1.0% increase in spending in shops, marking the strongest growth since March. The surge in grocery spending was attributed to people enjoying barbecues and picnics in the summery weather. These reports align with other consumer and business surveys indicating steady economic growth in the second half of 2024. Jack Meaning, chief…

Devlyn van der WaltDevlyn van der Walt: From Childhood Dream to Video Game Developer Discover the inspiring journey of Devlyn van der Walt, who turned his childhood dream of becoming a video game developer into a reality.Learn how his passion led him to a job at Johannesburg-based 24 Bit Games, where he thrives in the world of game development. Join the success story of South Africa’s burgeoning video games industry, with studios like 24 Bit Games creating award-nominated titles for a global audience. Explore the growth potential and opportunities in the South African gaming market, where talent is abundant and…

Title: South Africa’s Thriving Video Game Industry: A Hidden Gem for Investors and Gamers Alike As the world’s best investment manager and financial market journalist, I bring you an exclusive look into South Africa’s booming video game industry. Meet Devlyn van der Walt, a rising star in the industry who turned his childhood dream into a reality at Johannesburg-based 24 Bit Games. With titles like Broforce and Cocoon making waves internationally, South Africa’s small but thriving video game scene is catching the attention of investors like never before. Studio manager Nicolina Visentin-E’Silva proudly showcases the success of 24 Bit Games,…

Title: Why Investors Can Stay Calm About Corporate Tax Rates Despite U.S. Election Uncertainty Investing.com — In a recent report by BCA Research, analysts have highlighted the stability of corporate tax rates amidst the upcoming U.S. presidential election, providing reassurance to investors. Despite the potential for a Democratic victory, BCA flags that changes to corporate taxes are unlikely due to the expected political landscape. With a projected split Congress, any major fiscal policy shifts, including significant increases in corporate taxes, are expected to face strong obstacles. This gridlock offers comfort to investors concerned about the impact of potential tax hikes…

Gold Prices Hold Steady as Investors Eye Federal Reserve Rate Cut Gold prices opened nearly unchanged as investors continue to focus on the prospect of a rate cut by the Federal Reserve in September. At 18:57 EST (22:57 GMT), prices were down 0.06% at $2,498.10. The precious metal saw a strong performance last month, hitting a record peak of $2,531.60 on August 20. However, attention is now turning to the upcoming U.S. non-farm payroll report due on Friday. The findings of the report will be crucial in shaping expectations for the Federal Reserve’s decision on interest rates. Traders have adjusted…

Breaking News: U.S. Dollar Holds Near Two-Week High Ahead of Crucial Jobs Report – Will Federal Reserve Cut Rates? In the latest market update, the U.S. dollar has seen a slight decline but remains close to its recent high, as investors eagerly await the upcoming U.S. jobs report set to be released this week. At 18:40 EST (22:40 GMT), the dollar was down 0.1% at 101.64, while the euro remained steady at 1.1070. The jobs report, scheduled for release on Friday, is expected to play a pivotal role in shaping the Federal Reserve’s monetary policy. Fed Chair Jerome Powell has…

US equity futures opened modestly higher with S&P 500 rising 0.1%, while Nasdaq climbed 0.3%. The Dow Jones remained relatively unchanged, as did the FTSE. Meanwhile, the 10-Year Treasury yield stood at 3.903% at 18:05 EST (22:05 GMT). Focus shifts to labor market Investors are turning their attention to a crucial week for the US markets, with high anticipation for the upcoming labor market data. The previous month’s labor report fell short of expectations, prompting a sell-off in risk assets that began with the previous day’s disappointing ISM Manufacturing PMI. The subpar labor figures have prompted discussions regarding their cause,…

Breaking News: Oil Futures Open Higher After Three Weeks of Losses In the world of oil futures, things are looking up as prices open modestly higher following three weeks of losses. Concerns over a potential slowdown in demand from China and the possibility of increased supply from leading producers have put pressure on oil prices recently. As of 18:31 EST (22:31 GMT), crude oil futures are up 0.2% at $73.70, while the contract is up 0.32% at $77.26. Key Libyan ports have suspended oil exports, leading to a nationwide production reduction due to a dispute over the management of the…

US Equity Futures Show Modest Gains Amidst Anticipation for Crucial Labor Market Data US equity futures opened with slight gains, as the S&P 500 futures rose by 0.1% and the Nasdaq 100 futures climbed 0.3%. Meanwhile, the Dow Jones Industrial Average remained relatively unchanged. At 18:05 EST (22:05 GMT), the 10-Year Treasury yield stood at 3.903%. Labor Market Data Takes Center Stage Investors are now focusing on the upcoming labor market data, which is highly anticipated this week and could significantly influence the US markets. Last month’s labor report fell short of expectations, leading to a sell-off in risk assets…