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Chinese shares declined, primarily due to weakness in property stocks, as investors reacted to the recent economic agenda-setting meeting. While there were indications of efforts to enhance consumption, the lack of new policies aimed at stabilizing the housing market left many concerned.
Daniel Eggenberger and Wilfried Kofmehl, long-time friends and banking veterans, are expanding Lumen Capital with a new branch in Wollerau, Schwyz. This location, known for its innovative entrepreneurs, aligns with their growth ambitions and reflects their commitment to a unique network of investors. Lumen Capital emphasizes an active investment style focused on quality and long-term performance across all asset classes.
Vancouver's city council has voted to explore the integration of Bitcoin into municipal finances, aiming to address inflation and currency devaluation. Mayor Ken Sim, an investor in cryptocurrency, believes Bitcoin could stabilize the city's finances amid a housing market that has surged 381% since 1995. However, legal restrictions currently prevent municipalities from holding cryptocurrencies or using them for transactions, posing significant challenges ahead.
The RWA sector saw significant growth this week, with its market cap rising to $67.6 billion, driven by notable performances from Chainlink (+16.7%) and XDC (+24.3%). Key developments include ProvLabs' funding round, Archax's partnership with XDC, and BounceBit's integration of Ondo's USDY yieldcoin, enhancing access to tokenized real-world assets. Despite a decline in total value locked to $7 billion, the sector remains the best performer over the last 30 days, with a remarkable 98.5% growth.
A Dogecoin millionaire has invested significantly in Rexas Finance’s RXS token, currently priced at $0.125, during its ninth presale stage. RXS aims to revolutionize asset investment through blockchain technology, enabling fractional ownership of real estate, commodities, and collectibles, while attracting attention with its robust presale success and community-focused initiatives. With a projected 1.6x gain upon launch, RXS could potentially replicate or even surpass Dogecoin's success in the crypto market.
Commercial Metals Company provides essential products and technologies for the global construction industry, supporting various applications such as infrastructure and power generation. Its operations are divided into three segments: North American Steel Group, European Steel Group, and Emerging Business Group, which includes construction services and high-performance reinforcing steel products.
Two Lithuanian men, aged 35 and 47, were arrested in Zug after fleeing from police following a reported burglary. They are suspected of another burglary that same evening, with stolen property found during their arrest. The public is urged to report any suspicious activity in the area.
President-elect Donald Trump rang the opening bell at the New York Stock Exchange after being named Time's 2024 Person of the Year, marking his second time receiving the honor. In his remarks, he highlighted his administration's plans, including expedited permits for major projects and a commitment to mass deportations. Trump also expressed skepticism about trusting others, including Israeli Prime Minister Netanyahu, while emphasizing his approach to reshaping American politics.
Nestlé has partnered with Damm to manufacture and distribute Nestea in Spain, Andorra, and Gibraltar starting in 2025. Damm will produce the full range of Nestea flavors at its Valencia factory, enhancing its product portfolio and supporting the brand's growth in the non-carbonated drinks segment. The first Nestea units will be available from January 1, 2025.
Vancouver City Council has approved a motion to explore becoming a "Bitcoin-friendly city," aiming to integrate Bitcoin into its financial operations, including a potential reserve and payment options. Mayor Ken Sim highlighted the need to address inflation and affordability challenges, while some councilors raised concerns about illicit activities and the environmental impact of Bitcoin mining. A report on the feasibility and risks of this strategy is expected by the end of Q1 2025.
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