Bitcoin has surged past the $100,000 mark for the first time, climbing over 50% since Donald Trump's election victory. The recent rise was fueled by the nomination of Paul Atkins as SEC head, a known crypto advocate, alongside other crypto-friendly appointments. With Trump aiming to position the U.S. as the "Bitcoin superpower," the market is experiencing unprecedented enthusiasm, reflected in the nearly 150% increase in Dogecoin since election day.
Asian stock indices are on diverging paths as 2025 approaches. The Nikkei 225 has reached historic highs, buoyed by investor confidence, but faces risks from potential interest rate hikes and external tensions. Meanwhile, the Hang Seng index shows signs of recovery after years of decline, yet its sustainability remains uncertain amid a slowing Chinese economy and fragile investor sentiment.
IG
06:25 05.12.2024
Despite a rise in women's access to credit from 7% in 2017 to 14% in 2022, they still represent only 28% of borrowers in India. Women face a higher loan rejection rate of 19% compared to 8% for men, largely due to lower workforce participation and home ownership. Focused initiatives and investments in women's education and skills could triple their credit portfolio by 2030, as highlighted by the recent $36 billion commitment from the Indian government for women's empowerment.
Significant tax changes will take effect in 2025, including an increase in the exemption limit for photovoltaic systems to 30 kWp per unit, enhanced deductions for childcare costs, and stricter regulations for hybrid company cars. Additionally, the one-fifth rule for severance payments will shift tax declaration responsibilities to employees, while small businesses will benefit from a higher sales threshold for VAT reporting. E-invoicing will become mandatory in the B2B sector, with a transition period for smaller companies.
Chinese billionaire Li Shufu is streamlining his Geely empire after a decade of acquisitions to cut costs. While his strategy aims to enhance synergies and reduce product overlaps, many of his brands are struggling with significant debts and losses, posing challenges in balancing weaker and stronger assets.
French President Emmanuel Macron faces a significant crisis following the toppling of Prime Minister Michel Barnier, marking the first no-confidence vote loss in over 60 years. As Macron prepares to meet U.S. President-elect Donald Trump in Paris, concerns grow over potential political instability and its implications for the Eurozone's economy. Political analysts discuss the potential fallout for France's relations with Europe and the U.S.
A UK-led operation has uncovered a multibillion-dollar money laundering scheme linked to cash-rich criminals and sanctions evaders. In other news, Donald Trump has nominated cryptocurrency advocate Paul Atkins to chair the US Securities and Exchange Commission, while South Korea faces political turmoil after a failed attempt at martial law. Additionally, the French parliament has voted to oust Prime Minister Michel Barnier, and Google DeepMind has introduced an AI weather prediction model that surpasses traditional forecasting methods.
Tomas Daga, a key figure in Grifols SA's transformation into a global leader in blood plasma products, is now under scrutiny from hedge fund Mason Capital Management. The fund accuses him of conflicts of interest and acting as a proxy for the Grifols family, which holds a 35% stake in the company, as it seeks to oust him from the board following a failed takeover attempt by Brookfield Asset Management.
The U.S. solar manufacturing sector saw a record addition of 9.3 gigawatts of solar module capacity in Q3 2024, driven by federal policies and private investments. Five factories were expanded across Alabama, Florida, Ohio, and Texas, marking a significant shift towards domestic production. The country added 8.6 gigawatts of solar power capacity, with Texas leading the way, and predictions suggest over 40 gigawatts will be added in 2024, contributing to a projected 450 gigawatts by 2029.
IGL shares surged nearly 4% on December 5 after the company announced a board meeting scheduled for December 10 to consider a bonus share issue for equity shareholders. The specific bonus ratio has yet to be disclosed, but the stock reached an intraday high of Rs 374 on the NSE following the announcement.
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