Month: April 2022

FINSOC Weekly Wraps Vol.05

 Westpac was ordered to pay $113 million to the ASIC for charging fees to over 11,800 clients who have already passed away.
 Experts have predicted the Australian cash rate to surge above 3% by the end of 2023. It currently sits at 0.1%.
 On Wednesday 20th April, Netflix’s share price dropped by almost 30% when the company revealed that it had a net-loss of over 200,00 customers in the first quarter of 2022.
 The ASX 200 closed 0.7% down, due to significant falls of over 5% in the Materials and Information Technology sectors.
The APRA has outlined a policy plan to regulate the use of crypto-assets by financial institutions, which will be implemented and enforced by 2025. 
 Online discount brokerage firm, Robinhood has acquired UK crypto group Ziglu, to expand crypto-related product offerings and means of financial transfers across Europe.

FINSOC Weekly Wraps Vol.04

On Wednesday (14th April), the Treasurer, Josh Frydenberg revealed that the unemployment rate had dropped below 4% to 3.95% in March.
On Sunday 10th April, Prime Minister Scott Morrison announced the date of the federal election to be 21st May.
The ASX 200 closed 0.6% higher, up 44.4 points to 7523.4 this week, helped by Australian blue chips.
Growing number of global and local superannuation/pension funds are looking into cryptocurrency investments, being viewed as an effective hedge against inflation.
Elon Musk has put forward a bid of $43 Billion USD ($58 Billion AUD) to take social media giant Twitter private, proposing changes to features.

FINSOC Weekly Wraps Vol.03

 On Tuesday, April 5, the RBA confirmed that interest rates will be maintained at a historically low rate of 0.1% despite concerns over living costs growing for Australians
 The ASX 200 dropped 0.2% (16 points) to 7478 this week, despite adding 35.2 points, or 0.5%, on Friday. 
 The Central Bank of Russia has rejected a proposal that would allow cryptocurrency for sanction evasions.
 Deep Yellow Limited has finalized a $658m merger deal, with Vimy Resources Limited
 Frontline and Euronav approve a merger deal valued at $4.2bn.

FINSOC Weekly Wraps Vol.02

2022—2023 Budget has been released on 29/03/22, with a net deficit of $AUD714.9 billion. 
The Budget forecasts economic growth of 3.5% and the unemployment rate to fall from 4% to 3.75%
Most sectors have improved within the ASX, ending 1.2% stronger with the 3rd week of consecutive increases.
Over the week, the largest cryptocurrency heists in history occurred on the Ronin blockchain network, with hackers stealing over $USD625million in Ethereum and USD Coin.
Singaporean technology company NCS has made its fourth local acquisition by taking over Melbourne-based management consulting group ARQ for $AUD290million.

OPM x FINSOC Presents: Easter Thursday

Love parties? WE DO TOO!!!🙋🏻‍♀️Want to make new friends? THEN WHAT ARE YOU WAITING FOR?!?!⏳Come on down to ✨OPM✨ to HAVE THE TIME OF YOUR LIVES!!! Whether you’re a bright first year 🤩 or an old fifth year 🥸, OPM X FINSOC’s Easter Thursday is open to ALL. 🐰Get ready for the 🥳CRAZIEST🥳 party of the year.

UNSW FINSOC Presents: Introduction to Investing

We will connect the theory of the finance major to real world events and ongoings to provide you with insight into how you can better manage your finances. We will be covering the essential and broad topics such as expenses, savings, earning and investing. Within these, we will show you what you have to gain from high finance concepts, and how they can apply to your everyday purchases and your future financial health.

UNSW FINSOC presents: Experience: Investment Banking vs Consulting

Come to UNSW FINSOC’s Experience: Investment Banking vs Consulting, and gain practical insights into what each career path really entails. This INTERACTIVE event will give you the opportunity to work through a case alongside industry representatives, and learn first-hand how to approach both consulting and investment banking problems in the workplace. Don’t miss this UNIQUE opportunity to both network and brush up on your skills!