Aargau lawyer Albert Rüetschi is demanding accountability from the state government over the decision to transfer AHV assets from UBS to the US firm State Street, arguing it jeopardizes Swiss independence and safety. He insists that the management of pension assets must return to Swiss institutions by January 2025, proposing taxpayer-dominated cantonal banks as custodians. Rüetschi threatens the dismissal of Compenswiss's Board of Directors for what he deems irresponsible behavior regarding the management of Swiss pension funds.
Albert Rüetschi, a lawyer from Aargau, is pressuring the Swiss government to reverse the decision that transferred AHV assets from UBS to the US-based State Street, arguing it jeopardizes the safety of Swiss pension funds. He demands that the management of these assets return to a Swiss institution by January 2025, suggesting taxpayer-dominated cantonal banks as custodians instead. Compenswiss defends its choice, claiming the risk of US authorities freezing assets is low and that the savings from the switch are significant.
The Santa Claus rally presents a unique opportunity for traders to observe seasonal market patterns, particularly benefiting sectors like technology, financials, consumer discretionary, and healthcare. Key players such as Nvidia, JP Morgan, Amazon, and UnitedHealth are poised for growth due to increased consumer spending and favorable market conditions during the holiday season. As markets respond to these trends, investors should watch for potential stock price increases across these sectors.
Canal+ is set to debut on the London Stock Exchange, marking the largest new listing in two years, with a projected market value of €6bn. The move, seen as a vote of confidence in the UK capital markets, comes as Vivendi spins off its media assets, including StudioCanal. The listing aims to bolster Canal+'s ambitions to compete with major streaming services like Netflix and Disney+.
Coincheck Group, Japan's second-largest crypto exchange, began trading on Nasdaq on December 11 after merging with Thunder Bridge Capital, marking it as the second publicly listed dedicated crypto exchange in the U.S. The merger generated approximately $31.6 million, with expectations for a more favorable regulatory environment for digital assets under the incoming administration. Oki Matsumoto, Executive Chairman, credited the company's success to its strong Japanese foundation and strategic use of U.S. capital markets.
Eric Trump boldly predicted that Bitcoin will reach $1 million during his keynote at the Bitcoin Mena conference in Abu Dhabi. He emphasized Bitcoin's scarcity, superior liquidity, and potential for financial inclusion, contrasting it with traditional assets like gold and real estate. Trump expressed confidence in this forecast, noting the significant interest from major financial institutions.
Inventurus Knowledge Solutions has set a price band of Rs 1,265-1,329 per share for its IPO, with anchor investor bidding starting on December 11. The allotment will be finalized by December 15, and the stock is expected to list on exchanges on December 19. This IPO is a pure offer-for-sale, with existing promoters and shareholders selling shares worth up to Rs 2,497 crore, leading to a projected market capitalization of approximately Rs 22,802 crore at the upper price band.
Chainlink has made significant strides in bridging Traditional Finance (TradFi) and Decentralized Finance (DeFi), with co-founder Sergey Nazarov highlighting its evolution and partnerships that enable seamless, secure transactions across multiple chains. The platform has facilitated over $17 trillion in value and recently launched a pilot program with the Depository Trust and Clearing Corporation (DTCC) to standardize net asset value data across blockchains. Analysts predict LINK could soar to between $200 and $800, requiring substantial growth from its current trading price of $24.9.
Donald Trump’s return to the White House on January 20, 2025, is expected to significantly impact various sectors, including increased funding for ICE detention centers and potential volatility in defense stocks due to efficiency drives. Pro-gun policies may benefit companies like AMMO, Inc. and Smith & Wesson, while the pro-cryptocurrency stance could favor firms like MicroStrategy. Additionally, looser regulations may boost major banks, and Trump's energy policies could lead to increased oil production, affecting global prices.
Norton Rose Fulbright has facilitated a strategic partnership between the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and a consortium led by JP Morgan to expand the Tanger Med port in Morocco, with a total investment of 400 million euros. IFC's 197 million euro investment marks a significant step in sustainable financing for the port sector in emerging markets, while MIGA provides a 15-year guarantee for the lenders. This expansion will enhance Tanger Med's capacity to manage truck flows significantly, reinforcing Morocco's status as a key maritime hub.
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