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RBC Wealth Management has appointed a new leader for its Pacific Northwest operations. This strategic move aims to enhance the firm's presence and service offerings in the region, reflecting its commitment to growth and client engagement.
The SMI is lower in pre-market trading as US stock markets close little changed following an interest rate shock, with Micron weighing on the Nasdaq. The Chinese central bank maintained key interest rates amid economic challenges, while the Shanghai stock exchange rose 0.5%. Geopolitical uncertainties and policy shocks are expected to influence markets significantly in 2025, as highlighted by TD Securities' James Rossiter. The Chinese economy faces a real estate crisis, compounded by potential tariffs from US President-elect Donald Trump.
RPM International Inc. manufactures and distributes specialty chemicals, including paints, coatings, and sealants, catering to industrial, specialty, and consumer markets. The company operates through four segments: Construction Products Group, Performance Coatings Group, Consumer Group, and Specialty Products Group, offering a range of products from roofing systems to corrosion protection coatings.
Birkenstock Holding plc, through its subsidiary Birkenstock Group B.V. & Co. KG, is a global brand known for its unisex footbed-based products, including popular silhouettes like Madrid, Arizona, and Gizeh. The company boasts a vertically integrated manufacturing process, producing its proprietary footbeds in Germany while assembling most products domestically and in the EU. It effectively manages its distribution through both business-to-business and direct-to-consumer channels, ensuring broad accessibility to its full product range.
Birkenstock Holding plc, operating through Birkenstock Group B.V. & Co. KG, is a global brand known for its unisex footbed products, including popular silhouettes like Madrid, Arizona, and Gizeh. The company boasts a vertically integrated manufacturing base, producing all insoles in Germany and assembling most products there, while also utilizing other EU countries for manufacturing. Birkenstock effectively engages consumers through its direct-to-consumer channel and facilitates brand access via its business-to-business channel.
Dubai-based Allo has secured a $100 million Bitcoin-backed credit facility from a consortium of lenders, including Greengage and a U.S. financial institution. Specializing in real-world asset tokenization, Allo has facilitated $2.2 billion in tokenized assets and raised $2.75 million in funding to date. The market for tokenized assets has surged in 2024, with total value increasing from $8.3 billion to nearly $13.9 billion, driven by institutional interest and advancements in blockchain solutions.
NFTfi.com and Fabrica have completed a groundbreaking $200,000 loan backed by a tokenized plot of land in Los Angeles, marking the largest land-backed loan in blockchain history. This transaction, facilitated by early Ethereum investor Tony Herrera, showcases the potential of decentralized finance in transforming traditional real estate markets. With support from notable investors like Mark Cuban, the partnership aims to create a more efficient and accessible system for real estate financing through blockchain technology.
UBS will relocate its Brugg branch to Hauptstrasse 1 on January 13, 2025, consolidating around 180 employees from various units. The move follows the acquisition of Credit Suisse, with plans for a shared space between UBS and the city administration after the transition. Meanwhile, the former UBS location at Bahnhofstrasse 11 is being marketed for new tenants.
Allo, a Dubai-based tokenization platform, has secured a $100 million Bitcoin-backed credit facility from a consortium of lenders, including Greengage. The company has previously raised $750,000 through Binance Labs and nearly $2 million in seed funding, facilitating over $2.2 billion in tokenized assets on the BNB Chain. With the tokenization market projected to reach nearly $2 trillion by 2030, Allo's innovations are part of a growing trend that allows real-world assets to be digitized for easier investment.
Harbour has partnered with Velocity Labs to launch "Magic Ramp," a stablecoin payment system that connects SEPA Instant payment rails with Polkadot. This service enables Euros to be sent from bank accounts and received as USDC on-chain in under 30 seconds, with no fees for the first six weeks. The collaboration allows developers to create virtual IBANs linked to Polkadot wallet addresses, facilitating efficient on-and-off ramps for Web3 users and various payment solutions.
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