Author: Multibagger News

Oil prices dropped for a second consecutive day as the dollar strengthened amidst political turmoil in the U.S. following an attack on presidential candidate Donald Trump. Investors are also closely monitoring talks for a Gaza ceasefire. Crude oil futures fell by 0.7% to $84.48 a barrel, while U.S. West Texas Intermediate crude was down 0.7% to $81.65 a barrel. The dollar’s rise has impacted oil prices, as a stronger dollar makes dollar-denominated crude more expensive for buyers using other currencies. Last week, Brent crude fell by more than 1.7% and WTI futures slid by 1.1% due to weak oil demand…

Australian Banks to Refund $18.95 Million to Low-Income Customers: A Comprehensive Breakdown SEO Title: Australian Banks Refund $18.95 Million to Low-Income Customers Following ASIC Review (Multibagger) – In a significant move towards financial fairness, four major Australian banks have agreed to refund a total of A$28 million ($18.95 million) to low-income customers. This decision follows a comprehensive review by the Australian Securities and Investments Commission (ASIC), which revealed that these customers had been unfairly kept in high-fee bank accounts despite qualifying for cheaper options. The Findings of ASIC’s Report According to the ASIC report released on Monday, ANZ, Commonwealth Bank…

Breaking News: China’s Central Bank Maintains Medium-Term Rate Amidst Market Expectations In a move that surprised many, China’s central bank, the People’s Bank of China (PBOC), decided to keep the rate on 100 billion yuan ($13.8 billion) in one-year medium-term lending facility (MLF) loans unchanged at 2.50%. This decision came as a majority of market watchers predicted a partial roll-over, with only one respondent expecting a marginal interest rate reduction. The operation, which saw 103 billion yuan in MLF loans set to expire this month, resulted in a net 3 billion yuan fund withdrawal from the banking system. Additionally, the…

Investment Manager Reveals Impact of Global Conflict on Children’s Vaccination Rates In a recent report by the United Nations, it was revealed that more children were left without critical vaccinations in 2023 due to rising conflicts around the world. This shortage of life-saving shots, particularly in conflict-ridden areas, has led to 14.5 million children missing out on essential vaccines, compared to 13.9 million in the previous year. The UN estimates also showed that an additional 6.5 million children did not receive the full course of vaccinations, leaving them unprotected against diseases like diphtheria, tetanus, and whooping cough. This is a…

As the world’s top investment manager, I bring you the latest news on how the dollar rose on safety bids following the attempted assassination of former U.S. President Donald Trump. Despite Tokyo’s suspected intervention efforts, the yen struggled to stay afloat in the cautious market mood dominated by news of the Trump shooting. Trading was thin in Asia with Japan on holiday, but investors are now narrowing the odds of a Trump victory in the upcoming U.S. elections. This incident has enhanced Trump’s “reputation for strength” according to Jack Ablin, chief investment officer at Cresset Capital. Market reaction has been…

Gold Prices Dip in Asian Trade Amid U.S. Political Uncertainty After Trump Attack Gold prices fell slightly in early Asian trade on Monday, remaining near record highs but seeing limited safe haven demand following an alleged assassination attempt on former U.S. President Donald Trump. The dollar benefited from increased uncertainty in U.S. politics, with expectations of interest rate cuts supporting gold in recent weeks. Gold futures dropped 0.2% to $2,407.49 an ounce, while August futures fell 0.4% to $2,412.20 an ounce. Market analysts were still assessing the impact of the failed assassination attempt on Trump over the weekend, which initially…

TSMC’s Q2 Profit Surges 30% Amid AI-Driven Demand: What This Means for Investors Image Source: TSMC Headquarters TAIPEI (Multibagger) – Taiwan Semiconductor Manufacturing Co (TSMC) is poised to announce a 30% increase in second-quarter profits this Thursday, fueled by unprecedented demand for advanced chips used in artificial intelligence (AI) applications. Unpacking TSMC’s Financial Triumph Key Financial Highlights: Projected Q2 Net Profit: T$236.1 billion ($7.25 billion) Previous Year Q2 Net Profit: T$181.8 billion Market Value Milestone: TSMC’s American Depositary Receipts surpassed a trillion-dollar market cap recently. Market Catalysts: TSMC, the world’s largest contract chipmaker, counts tech giants like Apple (NASDAQ:AAPL) and…

BYD’s Move to Open First Southeast Asian Factory in Thailand Shines Light on Nation’s Industrial Vision Thailand, a Nation of 66 Million, Faces Economic Challenges as Suzuki Motor Shuts Thai Factory Amidst Rising Competition from China Thailand’s Manufacturing Sector in Crisis as Hundreds of Factories Close, Impacting GDP and Workers like Chanpen Suetrong Analysis: Thailand’s economy is facing significant challenges as the manufacturing sector struggles with competition from China, rising energy prices, and an ageing workforce. The closure of nearly 2,000 factories in the past year has had a profound impact on the country’s GDP and left many workers without…

The Impact of President Biden’s Call for Unity After Trump Shooting on American Politics | Best Investment Manager Analysis By Nandita Bose and Steve Holland WASHINGTON (Multibagger) -U.S. President Joe Biden used the formal setting of the White House Oval Office on Sunday to ask Americans to lower the political temperature and remember they are neighbors after a would-be assassin wounded Republican rival Donald Trump. Trump’s shooting “calls on all of us to take a step back,” Biden said in remarks of less than seven minutes. Thankfully Trump was not seriously injured, he said. “We can’t allow this violence to…

U.S. Stock Futures Steady Amid Trump Attack Speculation: Key Earnings Ahead Political Uncertainty Looms Over U.S. Markets as Trump Attack Sparks Debate Investing.com – U.S. stock index futures remained stable in Sunday evening trading amid speculation that an attack on presidential candidate Donald Trump could potentially bolster his chances of winning the 2024 election. Political instability kept investors cautious, even as they awaited crucial corporate earnings reports in the upcoming days, signaling the commencement of the second-quarter earnings season. Market Performance: A Glance at Major Indices Nasdaq Futures: Slight increase to 5,688.0 points Dow Jones Futures: Edged higher to 20,534.0…