Author: Multibagger News

SAO PAULO (Multibagger) -Brazilian President Luiz Inacio Lula da Silva said on Wednesday his government would remain committed to fiscal responsibility, though he also promised to maintain its policy of handing out cash to eligible poorer families. “Fiscal responsibility is not just a word, it is a commitment for this government… and we will keep it to the letter,” Lula said at an event to launch a subvention program for family agriculture. “We’ll have an economic policy that will make this country grow, we’ll keep making income transfers, and at the same time will keep the responsibility we’ve always had.”…

By Sarah Morland and Michelle Nichols UNITED NATIONS (Multibagger) -Haitian Prime Minister Garry Conille told the U.N. Security Council on Wednesday that the arrival of the first Kenyan police officers under a U.N.-backed mission marked a critical stage to restoring security in a country ravaged by gang violence. “The arrival of the first contingent of the Multinational Security Support kicks off a new era in Haiti,” Conille told diplomats in New York. “Haiti is currently at a critical point with 12,000 armed individuals holding a population of 12 million hostage.” Some 200 Kenyan police arrived in Haiti last week as…

AbbVie Inc . (NYSE:), a global biopharmaceutical company, has updated its earnings outlook for the second quarter and full year of 2024, reflecting significant research and development expenses. The company’s recent SEC filing on Wednesday reveals an expected pre-tax charge of $937 million due to acquired in-process research and development (IPR&D) and milestones expense. This charge is anticipated to affect both GAAP diluted earnings per share (EPS) and adjusted non-GAAP diluted EPS by $0.52. The preliminary figures suggest that AbbVie’s second quarter results, which have not yet been finalized, include these substantial expenses related to collaborations and licensing agreements. The…

The Federal Open Market Committee (FOMC) released the minutes from its last meeting, which highlighted that the vast majority of participants said that the U.S. economic growth is gradually cooling. “The vast majority of participants assessed that growth in economic activity appeared to be gradually cooling, and most participants remarked that they viewed the current policy stance as restrictive,” the meeting minutes said.  Despite this slowdown, the Fed is awaiting additional information before gaining the confidence to reduce interest rates. The central bank noted that it would not consider lowering the federal funds rate target until more data emerged to…

BEIJING (Multibagger) – China’s services activity expanded at the slowest pace in eight months and confidence hit a four-year low in June, dragged by slower growth in new orders, a private-sector survey showed on Wednesday, suggesting more economic stimulus is needed. The Caixin/S&P Global services purchasing managers’ index (PMI) eased to 51.2 from 54.0 in May, marking the lowest reading since October 2023 but remaining in expansionary territory for the 18th straight month. The 50-mark separates expansion from contraction. The survey, which covers mostly private and export-oriented companies, aligned with a broader official PMI released on Sunday that showed activity…

By Jason Lange WASHINGTON (Multibagger) -One in three Democrats think U.S. President Joe Biden should end his reelection bid following last week’s debate against Republican Donald Trump, but no prominent elected Democrat does any better than Biden in a hypothetical matchup against Trump, according to a Multibagger/Ipsos poll that closed on Tuesday. The two-day poll found that both Trump, 78, and Biden, 81, maintain the support of 40% of registered voters, suggesting that Biden has not lost ground since the debate. Election Day is Nov. 5. Among the names of top Democrats put before respondents, only Michelle Obama, wife of…

Opaleye Management Inc., a notable investment management firm, has recently sold shares in Protara Therapeutics, Inc. (NASDAQ:TARA), a company specializing in biological products. The transactions, which took place on July 1, 2024, involved the sale of a total of 8,288 shares of common stock at an average price of $2.1233, amounting to nearly $18,000. The sales were carried out in multiple transactions with prices ranging from $2.1021 to $2.1611. This information comes from a recent Form 4 filing with the Securities and Exchange Commission, which details the trading activities of the company’s insiders. The bulk of the shares, specifically 5,788…

By Yuvraj Malik and Jaspreet Singh (Multibagger) – Meta Platforms (NASDAQ:)’ newest social media offering Threads has over 175 million monthly active users, CEO Mark Zuckerberg revealed on Wednesday, ahead of its first anniversary. A challenger to X, formerly known as Twitter, Threads hit app stores on July 5 last year, timed to win users from the de facto micro-blogging site during its chaotic takeover by billionaire Elon Musk. It garnered 100 million users in less than a week, partly because of an easy way for users of the popular platform Instagram to set up their Threads profiles, but some…

By Jamie McGeever ORLANDO, Florida (Multibagger) – If history is any guide, uncertainty surrounding the U.S. presidential election will rise as the November vote draws closer, which would be an additional headwind for an economy already showing signs of losing momentum. Economic policy uncertainty indexes capturing these trends have not kicked in yet. But assuming they do, the heightened anxiety could herald a softer second half of the year not only for the economy but for Wall Street too. Much of this year’s stock-market strength has been built on solid earnings growth forecasts. These are likely to be revised if…

By Elida Moreno and Lizbeth Diaz PANAMA CITY (Multibagger) – An agreement between Panama and the United States to try to deter migrants from crossing the treacherous Darien jungle, by repatriating those that enter the Central American country illegally, is unlikely to succeed and could make journeys even more dangerous. Analysts said the plan announced on Monday, in which Washington agreed to cover the cost of repatriating migrants, would struggle in the face of the vast numbers of people currently arriving in Panama. And any success in bringing down the number of people crossing the Darien would likely only result…