Author: Multibagger News

Read on to find out why this case is important and how it could impact the financial markets. By the world’s best investment manager and financial market’s journalist Idrees Ali and Kanishka Singh WASHINGTON (Multibagger) – U.S. Army Private Travis King, who last year ran into North Korea and was taken into custody there, will plead guilty to five charges, including desertion, while taking responsibility for his conduct, his lawyer said in a statement on Monday. WHY IT’S IMPORTANT The U.S. Army charged King with crimes ranging from desertion for running into North Korea in July to assault against fellow…

Meta Platforms, Inc. (NASDAQ: META) Chairman and CEO Mark Zuckerberg oversees the sale of over $8.8 million in stock through his philanthropic foundations. The transactions, executed on August 23, 2024, were conducted in accordance with a trading plan to avoid accusations of insider trading. Despite the sales, the entities still hold significant shares in Meta Platforms, indicating confidence in the company’s future. In other news, tech giants including Google, Meta, Apple, Amazon, and Grab have expressed concerns over Malaysia’s proposed social media platform licensing system. Meanwhile, Meta and Spotify CEOs criticize the EU’s regulatory environment for open-source AI, calling for…

By Colleen Howe BEIJING (Multibagger) – Oil prices paused their recent advances, receding in Asian trading on Tuesday after surging more than 7% in the previous three sessions on supply concerns prompted by fears of a wider Middle East conflict and the shutdown of Libyan oil fields. Oil futures fell slightly in Asian trading, with Brent crude futures down 0.39% to $81.11 a barrel and U.S. West Texas Intermediate crude futures falling 0.46% to $77.06 a barrel. The recent gains in oil prices were driven by a combination of factors, including expectations of U.S. interest rate cuts boosting fuel demand,…

SeaTown Holdings Secures $1.3 Billion for Second Private Credit Fund: What This Means for Your Financial Future (Multibagger) – Singapore’s premier alternative investment firm, SeaTown Holdings International, has triumphantly raised over $1.3 billion for its second private credit fund. This milestone achievement saw participation from an elite group of limited partners, including insurance companies and family offices, ensuring a robust financial backing. The new fund, a unit of Temasek’s asset management arm Seviora, has eclipsed the $1.2 billion raised for its initial fund. This marks a significant vote of confidence in SeaTown’s investment strategy and potential for high returns. Among…

Philippines Defence Minister Calls Out China as Biggest Disruptor of International Peace in the Region During an annual military conference of the United States Indo-Pacific command, Philippines Defence Secretary Gilberto Teodoro emphasized Manila’s commitment to protecting its sovereignty. Teodoro urged partner nations to denounce China’s “illegal actions” in the South China Sea, where Brunei, Malaysia, Taiwan, and Vietnam also have competing claims. The South China Sea is a crucial waterway for over $3 trillion in annual ship-borne trade, but China has rejected a 2016 ruling by the Permanent Court of Arbitration in the Hague that invalidated its expansive claims in…

Insider Buying Alert: Roadzen Inc. Executive Increases Stake by 595 Shares In a recent development, Rohan Malhotra, a key executive at Roadzen Inc. (NASDAQ:RDZN), has significantly increased his stake in the company through the purchase of 595 additional shares. The transactions, totaling $984, took place on August 22 and 23, 2024, at prices ranging from $1.60 to $1.79 per share. Malhotra now directly owns 765,930 ordinary shares in Roadzen Inc., with additional indirect holdings through entities where he has a significant influence or pecuniary interest. These purchases are a positive signal for investors, indicating confidence in the company’s future prospects.…

USD Rises Amid Middle East Tensions, Eyes on US Rate Cuts – Rae Wee By Rae Wee SINGAPORE (Multibagger) – The dollar edged higher on Tuesday and major currencies traded sideways as lingering concerns over tensions in the Middle East partially offset investors’ optimism for imminent U.S. interest rate cuts. Geopolitical risks kept early currency moves subdued, though fears of an escalating conflict following Israel and Hezbollah’s major missile exchange over the weekend petered out. The yen was last 0.2% lower at 144.82 per dollar, giving up some of its safe haven gains from the previous session which saw it…

As the world’s best investment manager and financial market’s journalist, I bring you the latest update on oil prices in Asian trade. Prices have fallen after a strong rebound in recent sessions, with traders looking for more cues on production disruptions in Libya and the wider war in the Middle East. After rebounding by 7% over the past three sessions, oil prices saw some profit-taking. The price of Brent crude oil expiring in October fell by 0.3% to $81.17 a barrel, while WTI crude oil fell by 0.4% to $77.12 a barrel. One of the factors boosting oil prices in…

Elon Musk Advocates for AI Regulation: Why California’s Proposed Bills Matter for Investors and Tech Users Alike Tesla’s Elon Musk Calls for AI Safety Regulation in California In a significant move for the tech world, Elon Musk, the CEO of Tesla (NASDAQ: TSLA) and owner of the social media platform X, has publicly endorsed legislation aimed at regulating Artificial Intelligence (AI) in California. Musk emphasized the importance of this regulation by stating, "For over 20 years, I have been an advocate for AI regulation, just as we regulate any product/technology that is a potential risk to the public." The Legislative…

By Eltayeb Siddig ARBAAT, Sudan (Multibagger) – Surging waters have burst through a dam, wiped out at least 20 villages, and left at least 30 people dead, devastating a region already reeling from months of civil war in eastern Sudan, the United Nations reported on Monday. Torrential rains caused floods that overwhelmed the Arbaat Dam on Sunday, just 40 km (25 miles) north of Port Sudan, the de facto national capital. The region is home to hundreds of thousands of displaced people, government offices, and aid agencies. The destruction caused by the floods has left the area unrecognizable, with electricity…