Author: Multibagger News

Federal Reserve Poised for Triple Rate Cuts in 2024 Amid Weakening Economy and Softening Jobs Market: ING Analysis ING Analysts Predict Triple Rate Cuts in 2024: What It Means for Your Finances In a bold forecast, ING analysts have indicated that weakening economic data and a softening jobs market could drive the Federal Reserve to cut interest rates three times in 2024. This expectation surpasses both the Fed’s own projections and prevailing market expectations. Economic Data Indicates Broad-Based Weakness The ISM services index, a critical economic indicator, has shown a concerning decline, hitting a four-year low in June. ING describes…

EU Imposes Provisional Duties on Chinese EVs, Risking Beijing Retaliation The European Commission will impose provisional duties on Chinese-made electric vehicles (EVs) imported into the European Union, with rates ranging from 17.4% to 37.6%. These duties, on top of the standard 10% tariff for car imports, come in response to an anti-subsidy investigation aimed at preventing injury to EU industry. Provisional duties can last up to nine months, after which the Commission will decide on final duties. Interested parties, including China and EV producers, have until July 18 to comment on the ongoing investigation. The final report is expected to…

By Yassin Kombi In a dramatic turn of events, twenty-five soldiers have been sentenced to death by a military tribunal in the Democratic Republic of Congo for fleeing battles against M23 rebels and theft. This development has sent shockwaves through the region, as Congo’s army continues to battle insurgency and militia violence, with millions displaced within North Kivu province. The soldiers were detained after abandoning their positions and were found stealing goods from local shops. The military tribunal wasted no time in trying them, with the majority being sentenced to death for various charges including theft, fleeing the enemy, and…

Top Investment Manager Reveals: U.S. Stock Markets to Close for Independence Day Holiday, Fed Minutes Show Easing Price Pressures, U.K. Election Polls Open, Biden Vows to Stay in Race, Oil Prices Fall As the world’s best investment manager and financial market journalist, I bring you the latest updates on the financial landscape. U.S. stock markets are set to close for the Independence Day holiday, with record highs reached in the previous session. The Federal Reserve’s minutes indicate a cooling in inflation but caution on interest rate cuts. The U.K. election and Biden’s reelection bid add to the political drama. Oil…

EU Imposes Up to 37.6% Tariffs on Chinese Electric Vehicles: What This Means for Global Markets and Your Investments By Philip Blenkinsop and Charlotte Van Campenhout BRUSSELS (Multibagger) – The European Union is set to impose tariffs as high as 37.6% on imports of electric vehicles (EVs) made in China starting this Friday, according to EU officials. This move escalates tensions with Beijing and marks Brussels’ largest trade case to date. Key Highlights: Provisional Tariffs: The tariffs, ranging from 17.4% to 37.6%, will be provisional for four months, during which intensive negotiations are expected to continue. Reason for Tariffs: The…

FRANKFURT (Multibagger) – In a recent statement, ECB chief economist Philip Lane revealed that both the ECB’s wage tracker and feedback from corporations indicate a cooling trend in wage pressures. Lane predicts that this trend will continue into next year and 2026. During a lecture in Naples, Lane explained, “The reason why we think inflation will come down next year is that this is the last year of high wage increases and the wage increases will look more normal.” Firms directly surveyed by the ECB are also expecting a significant slowdown in wage growth, aligning more closely with figures that…

Is President Biden’s Reelection Bid in Jeopardy? Democrats Doubt His Ability to Beat Trump As the uncertainty grows over President Joe Biden’s potential reelection bid following a shaky debate performance, fellow Democrats are expressing doubts about his ability to defeat Donald Trump. A recent poll has shown a shift in prediction market probabilities in favor of Trump and a Republican victory. Despite acknowledging his subpar performance in the debate, Biden has attributed it to fatigue from recent overseas trips. However, the confidence of Democrats in his candidacy seems to be waning, with key figures like Nancy Pelosi and James Clyburn…

Continental Shares Surge Amid Positive Q2 Progress in Automotive Unit Investing.com — On Thursday, Continental (ETR:) shares experienced a significant boost following a pre-close call that suggested notable improvements in their automotive sector for Q2. The German tire behemoth, ahead of their August 7th quarterly results release, indicated that pricing contributions from the automotive division are anticipated to be positively impactful during the latest three-month period. In their final communication before the earnings announcement, Continental highlighted that pricing dynamics in the automotive segment are "required to be positive." This optimistic outlook led Stifel analysts to infer substantial progress in price…

Investing.com — U.S. Stock Markets Closed for Independence Day Holiday, Fed Minutes Show Easing Price Pressures, U.K. Election Polls Open, Biden Vows to Stay in Race, Oil Prices Fall As the U.S. stock markets close for the Independence Day holiday, the Federal Reserve’s minutes from their June policy meeting indicate a decrease in inflation but not yet on a sustainable downward path. In the U.K., voters head to the polls for a general election, while U.S. President Joe Biden reaffirms his intention to run for a second term. Analysis: – U.S. stock markets closed for the holiday, with tech stocks…

Breaking News: Jemaah Islamiyah Dissolves, Impact on Financial Markets – Kate Lamb and Ananda Teresia By Kate Lamb and Ananda Teresia JAKARTA (Multibagger) – In a groundbreaking move, senior members of Jemaah Islamiyah, the infamous Southeast Asian militant network responsible for the deadly Bali bombings, have announced the disbandment of the group, as reported by a Jakarta-based think tank on Thursday. The Institute for Policy Analysis of Conflict (IPAC) confirmed the authenticity of a video statement released on June 30 by sixteen Jemaah Islamiyah (JI) leaders, where they declared the dissolution of the extremist network. In the video, the leaders…