Author: Multibagger News

Uber Slapped with Record €290 Million GDPR Fine: What Investors Need to Know In a major blow to ride-hailing giant Uber, the Netherlands’ privacy watchdog has fined the company a whopping €290 million for violating the EU’s General Data Protection Regulation (GDPR). This penalty, equivalent to around $324 million, is a result of Uber’s improper transfer of drivers’ personal data outside the European Union to the US, where the company’s main operations are based. The GDPR allows for fines of up to 4% of global annual turnover for non-compliance, and Uber’s revenue for 2023 was approximately €34.5 billion. While the…

SolarEdge Technologies, Inc. Leadership Transition: Zvi Lando Steps Down as CEO In a significant move for smart energy technology firm SolarEdge Technologies, Inc. (NASDAQ: NASDAQ:), Zvi Lando has announced his decision to step down as CEO. The company confirmed Monday that Ronen Faier, the former Chief Financial Officer, will take over as the Interim CEO. Concurrently, Ariel Porat, previously Senior VP of Finance, will assume the role of CFO, following the company’s pre-planned succession strategy. Zvi Lando, who has been instrumental in SolarEdge’s growth over the past 15 years, will continue to support the management team as an advisor and…

Salesforce Q2 Earnings Preview: Potential Growth Slowdown Ahead, Says Citi As we gear up for Salesforce’s (NYSE: CRM) upcoming earnings announcement, leading analysts at Citi have delivered a mixed forecast. While the Q2 results are anticipated to meet market expectations, Citi’s experts warn of a potential deceleration in growth during the latter half of the fiscal year. Balanced Yet Cautious Outlook on Salesforce’s Performance Citi maintains a "relatively balanced view" on Salesforce’s upcoming earnings. The analysts acknowledge that Q2 estimates are achievable but emphasize caution for the second half of the fiscal year. Partner inputs have been tepid, suggesting that…

International Airlines Adjust Services Amid Middle East Conflict Concerns Amid rising tensions in the Middle East, several international airlines have made adjustments to their flight schedules to and from the region. This move comes as concerns over a wider conflict in the region continue to grow, prompting airlines to either suspend flights or avoid affected air space. Here is a breakdown of some of the airlines that have adjusted their services: – Aegean Airlines: Flights to and from Amman, Beirut, and Tel Aviv have been cancelled or suspended until various dates in September and October. – Air Algérie: Flights to…

Indonesia and US Kick Off Annual Military Exercises Amid Rising China Influence JAKARTA (Multibagger) – Indonesia and the United States have kicked off two weeks of Super Garuda Shield, an annual military exercise involving more than 4,500 personnel. The drills aim to enhance operational skills as Washington seeks to strengthen ties in a region where China is vying for influence. Super Garuda Shield, held since 2006, will feature simulations including land and air operations, combat search and rescue, as well as exercises in engineering and cargo delivery. Troops from Australia, Japan, Britain, France, and New Zealand are also participating in…

Title: Breaking News: Telegram CEO Pavel Durov Arrested in France – What You Need to Know In a shocking turn of events, Pavel Durov, the CEO of the popular messaging app Telegram, has been arrested in France. Reports indicate that the arrest was made under a warrant related to the app’s moderation policies, with Mr. Durov accused of not taking sufficient steps to prevent criminal activities on the platform. Who is Pavel Durov, you may ask? Well, Mr. Durov is a 39-year-old multi-billionaire originally from Russia, known for founding the Russian social media company VKontakte. He left Russia in 2014…

Breaking News: Pavel Durov, CEO of Telegram, Arrested in France – What Does This Mean for Investors? Pavel Durov, the billionaire founder of Telegram, has been arrested in France under a warrant related to the app’s alleged insufficient moderation. This development has sent shockwaves through the tech world and financial markets. Who is Pavel Durov and Why Should You Care? Pavel Durov, a multi-billionaire originally from Russia, founded the popular social media company VKontakte before leaving Russia in 2014 due to government pressure. He now resides in Dubai and holds citizenship in the UAE and France, despite Russia still considering…

Investing.com – Toncoin, the token associated with The Open Network (TON), has experienced a significant $3 billion loss in market value following the arrest of Pavel Durov, co-founder of Telegram Messenger LLP, by French authorities. Reports of Durov’s detention at a Paris airport on charges related to facilitating illegal activities on Telegram, along with allegations of data privacy breaches and cryptocurrency regulation violations, led to a sharp decline in Toncoin’s value. The token’s price plummeted by 25% to a historic low of $5.24, triggering panic selling among investors. At the time of writing, Toncoin was trading at $5.68, showing a…

Morgan Stanley Maintains Overweight Rating on Lululemon Athletica Inc. (NASDAQ: LULU) Despite Price Target Reduction – Analysts Optimistic About Second Half Performance Morgan Stanley has upheld its Overweight rating on Lululemon Athletica Inc. (NASDAQ: LULU) while adjusting the price target to $329 from $404. Analysts anticipate a potential second-quarter earnings per share (EPS) beat and an increase in full-year guidance, driven by factors that may not resolve broader debates surrounding the company. The analyst from Morgan Stanley acknowledged that the upcoming financial results may not settle larger discussions about Lululemon, but the company’s outlook for the second half of the…

Telecom Italia Stock Surges Amid Potential Vivendi Stake Sale: What Investors Need to Know Investing.com – Shares of Telecom Italia (ETR:) surged on Monday following a report from Corriere della Sera that a consortium of investors is contemplating the acquisition of Vivendi’s (OTC:) stake in the Italian telecom giant. As of 6:52 AM (1052 GMT), Telecom Italia was trading 2.8% higher. What Sparked the Surge? The potential sale, still in an "embryonic" stage, would require the green light from the Italian government. With its "golden power" prerogative, the government can scrutinize takeovers of companies deemed strategic to the nation’s economy,…