Author: Multibagger News

CATL and BYD Dominate Energy Storage Market – A Game Changer for Investors China’s top EV battery manufacturers, CATL and BYD, are capitalizing on the booming stationary energy storage market. CATL, in particular, has secured the top spot globally for energy storage battery deliveries since 2021, capturing over 40% of the market share. Its impressive performance in this sector is evident from the surge in deliveries for storage by 46.8% to 69 gigawatt-hours in 2023, outpacing its growth in EV batteries. On the other hand, BYD has also seen significant growth in its energy storage business, with a 57% increase…

Breaking News: U.S. Dollar Weakens as Pound Surges Ahead of UK Election Results By Ankur Banerjee and Sameer Manekar SINGAPORE (Multibagger) – The U.S. dollar is facing pressure near three-week lows on Friday, with all eyes on upcoming payroll data that could impact interest rate expectations. Meanwhile, the British pound remains strong as the Labour party is expected to secure a significant majority in the UK general election. Sterling is currently trading at $1.27705, close to a three-week high of $1.27765 reached earlier this week. The Labour party has already secured more than half of the seats in parliament, providing…

By Tetsushi Kajimoto A recent Multibagger poll indicates that Japan’s wholesale prices are expected to have accelerated in June, driven by a combination of factors such as a weak yen, higher commodity import bills, and increasing transportation costs. This surge in prices is putting pressure on the trade-reliant economy, leading to cost-push inflation. Additionally, the poll suggests that core machinery orders likely rebounded in May, offering relief to policymakers concerned about the outlook for capital expenditure. The corporate goods price index (CGPI) is expected to have risen by 2.9% in June from a year earlier, showing an acceleration compared to…

By Jessie Pang HONG KONG (Multibagger) – Prominent Hong Kong activist Joshua Wong should be considered an active participant in a landmark subversion case involving 47 democrats, his lawyer said on Friday, but urged a court to hand him a lighter sentence for entering his plea early. Wong, 27, who wore a gray sweater and navy blue shirt in court, was one of dozens of democratic activists arrested in 2021 for participating in an unofficial poll to select candidates for a 2020 legislative council election. Of these, 47 were charged with “conspiracy to commit subversion” under a national security law…

Investing.com News: Bitcoin Price Plunges to Four-Month Low Amid Mt Gox Distribution Fears In a dramatic turn of events, Bitcoin experienced a sharp decline to a four-month low on Friday, as concerns about an imminent distribution by the defunct crypto exchange Mt Gox intensified selling pressure on the token. German police were also observed transferring around $75 million worth of confiscated crypto from a piracy website to exchanges, potentially signaling a mass sell-off event akin to earlier this year. The price of Bitcoin plummeted by 8.5% in the past 24 hours to $54,092.3, marking its weakest level since March. Over…

Canada Tightens Grip on Critical Mineral Deals as Glencore’s $6.93B Teck Resources Acquisition Faces Scrutiny By Divya Rajagopal TORONTO (Multibagger) – Canada has sent shockwaves through the mining industry with its latest announcement: any major deals targeting the country’s producers of critical minerals will now only be approved under "the most exceptional circumstances." The stringent new stance comes as Industry Minister Francois-Philippe Champagne imposes strict conditions on Glencore’s (OTC:) $6.93 billion acquisition of Teck Resources’ (NYSE:) steelmaking coal business. Canada’s Strategic Move to Protect Critical Minerals In a bold move, Canada has highlighted 31 minerals, including lithium and nickel, as…

Asian Currencies Rise as Dollar Weakens Ahead of Data; Japanese Yen Strengthens Amid Intervention Speculation Most Asian currencies advanced slightly on Friday as the dollar weakened ahead of key payrolls data. The Japanese yen strengthened sharply amid speculation over potential government intervention. The British pound firmed slightly with the Labour party set to win big in the UK general election. On the other hand, the euro and Australian dollar sank to three-week lows due to expectations of interest rate cuts. Focus is now on key data releases for more cues on interest rates. While a softer dollar benefited Asian markets,…

Bitcoin and Ether Plunge: Understanding the Recent Crypto Market Crash Bitcoin Hits Four-Month Low Amid Political Uncertainty and Increased Crypto Supply Concerns SINGAPORE (Multibagger) – The cryptocurrency market experienced a significant downturn this week, with Bitcoin plummeting to a four-month low, marking its worst weekly performance in a year. This decline has been driven by uncertainties surrounding U.S. political stability and potential increases in cryptocurrency supply. Key Highlights: Bitcoin Decline: Bitcoin prices tumbled 5% to $55,366 on Friday, hitting their lowest levels since late February. The cryptocurrency has seen a 10% drop over the week, erasing gains made earlier in…

“Indian Retail Auto Sales Decline for Second Month Despite Discounts – Impact on Economy and Automakers Revealed | Exclusive Analysis by Top Investment Manager” BENGALURU – In a recent report by the Federation of Automobile Dealers Association (FADA), it was revealed that retail sales of cars in India fell for the second consecutive month in June. This decline, which was steeper than the previous month, is attributed to the intense heatwaves across the country that deterred customers from making purchases, despite substantial discounts being offered. The 6.8% year-on-year drop in passenger vehicle sales in June has raised concerns about the…

PayPal Faces Legal Setback in Australia: Federal Court Rules Against Unfair Small Business Contracts (Multibagger) – In a landmark decision, Australia’s federal court has ruled that PayPal’s local division engaged in unfair practices through its standard contracts with small business customers, potentially overlooking errors that led to overcharges. This ruling, announced by the Australian Securities and Investments Commission (ASIC) on Friday, marks a significant move towards protecting small business owners from unfair contractual terms. What Happened? The Australian federal court found that PayPal utilized a specific term in its contracts with small businesses that was deemed unfair. According to ASIC,…