– Credit Suisse raises $2.6b to manage the collapse of Archegos Capital Management which lead to ~$6b in losses.- The ASX 200 comes out with a 0.08% gain after a substantial mid-week dip.- Joe Biden called for an increased capital gains tax rate for investors earning >US$1mil.- Lithium miners Orocobre Limited and Galaxy Resources Limited have agreed to merge with a combined value of $4 billion to attract global institutional attention.
– Citigroup has decided to discontinue its Australian consumer banking products, ending a 36 year run to focus on its investment banking services in Australia. – The ABS has reported a drop in unemployment rate of 0.2%, down to 5.6% since February . – The ASX 200 continues to rise, ending on a 13-month high of 7063.5.- International: Coca-Cola Amatil shareholders voted in favor of a $9.8 billion acquisition offer from Coca Cola European Partners. – This week’s company spotlight studies how Crown Resorts Limited has navigated its way throughout regulatory controversies and restrictions amidst the pandemic.
– Major Facebook data leak exposes the personal data of over 500 million users.- Chinese regulators fines Alibaba $3.7b for violating competition laws. – ASX200 rises to a 12 month high.- This week’s company spotlight details the share price performance of Woolworths Group.
– The Australian housing market is experiencing it’s largest monthly price surge in 32 years- The Ever Given cargo ship was finally freed from the Suez Canal; it was estimated to have held up $9.6billion worth of trade- US President Joe Biden has proposed a $2.3 trillion economic stimulus package- Deloitte has acquired financial services firm Rice Warner for one-times current revenue- This week’s company spotlight examines furniture retailer Adairs Limited