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AMP Ltd. has made a historic investment of approximately A$27 million (around $17.2 million) in Bitcoin futures, becoming one of the first major Australian pension managers to embrace cryptocurrency. This cautious move, constituting about 0.05% of its total pension assets, reflects a shift in attitudes within the traditionally conservative sector, despite broader hesitance in the A$4.1 trillion Australian pension industry. AMP's Chief Investment Officer emphasized the importance of risk management and careful oversight in this evolving digital asset landscape.
Binance has launched its 62nd project on Launchpool, introducing Vana (VANA), a native EVM-compatible L1 blockchain for user-owned data. Users can lock BNB and FDUSD to earn VANA tokens from December 14 to 15, with trading starting on December 16. The total rewards for the Launchpool are 4,800,000 VANA, with a maximum of 8,500 VANA per user in the BNB pool and 1,500 VANA in the FDUSD pool.
Heidelberg Materials AG, a leader in cement and building materials, reports its sales distribution as follows: cements (45.5%), ready-mix concrete and asphalt (27.5%), aggregates (18%), and other products (9%). Geographically, sales are concentrated in the United States (20.4%), Germany (9%), and the United Kingdom (8.9%), among other regions.
DigiCO REIT's strategic IPO, launched just before year-end, aims to raise funds for acquiring data assets, capitalizing on the growing demand for data storage and processing. Trading slightly above its $5 issue price, the company focuses on competitive acquisitions to ensure profitability amid rising energy challenges in the data centre market. With a positive IPO debut, DigiCO is poised to leverage the expanding demand for data services and sustainable energy solutions.
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US stocks declined following mixed inflation reports and rising jobless claims ahead of the FOMC meeting. The ASX 200 also pulled back as strong labor data diminished expectations for an RBA rate cut. Key economic indicators are set for release next week, including US retail sales and central bank meetings in Australia, Japan, and the UK.
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Australia's federal court has imposed a A$8 million ($5.1 million) fine on Bit Trade, the local operator of the Kraken cryptocurrency exchange, for unlawfully issuing a credit facility to over 1,100 customers. The Australian Securities and Investments Commission (ASIC) found that Bit Trade failed to assess the suitability of its margin trading product, leading to losses exceeding $5 million. This ruling marks the first enforcement action against an entity for not having a target market determination for such financial products.
Costco Wholesale's stock was sold at an average price of $894.68, totaling $1,266,866.88, resulting in a 4.91% decrease in ownership for the executive vice president, who now holds 27,400 shares valued at $24.5 million. In the past ninety days, insiders sold 11,016 shares worth nearly $9.8 million, with institutional investors owning 68.48% of the company. Analysts have raised price targets for Costco, with UBS Group setting a new target of $1,040, indicating a potential upside of 4.42%.
Costco Wholesale's stock was sold at an average price of $894.68, totaling $1,266,866.88, resulting in a 4.91% decrease in ownership for the executive vice president, who now holds 27,400 shares valued at $24.5 million. In the past ninety days, insiders sold 11,016 shares worth nearly $9.8 million, with institutional investors owning 68.48% of the stock. Analysts have raised price targets for Costco, with UBS Group setting a new target of $1,040, indicating a potential upside of 4.42%.
AMP, an Australian superannuation fund, has invested approximately $27 million in Bitcoin, marking it as the first major Australian fund to do so. This investment represents a conservative 0.05% of its $57 billion assets under management, acquired during Bitcoin's price rally following Donald Trump's electoral victory. Despite this move, other Australian superannuation funds remain hesitant to adopt Bitcoin, viewing it as too risky.
Exxon Mobil Corporation operates primarily in refining and distribution, hydrocarbon exploration and production, and petrochemicals. In 2023, it sold 5.5 million barrels of petroleum products daily, produced 2.4 million barrels of oil, and 219.1 million m³ of natural gas. The company's net sales are geographically distributed with the U.S. accounting for 38%.
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