Category: Finance
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Sam Bankman-Fried Sentenced to 25 Years Jail
In a decisive turn of events that’s captured the attention of both the cryptocurrency world and the global financial community, Sam Bankman-Fried, the founder of the now-insolvent FTX exchange, has been sentenced to 25 years in prison by District Judge Lewis Kaplan in New York. This sentencing comes after a jury found Bankman-Fried guilty of…
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Australian female billionaires with the highest net worth
Rank Name City Net worth (billions AUD) 1 Gina Rinehart Perth $43.17 2 Melanie Perkins Sydney $5.27 3 Fiona Geminder Melbourne $3.77 4 Heloise Pratt Melbourne $3.17 5 Ginia Rinehart Sydney $3.16 =6 Bianca Rinehart Brisbane $3.14 =6 Hope Welker New York $3.14 8 Gretel Packer Sydney $2.20 9 Angela Bennett Perth $2.18 *= represents…
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Pink Diamonds: An investment for your future
In the world of diamonds, the closure of a diamond mine would see increases in value and demand, as supplies become limited. For the Argyle Pink Diamond this rings true. As the last of these precious stones were mined from the Argyle mine in November 2020, they are now considered to be one of the…
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Bitcoin and Cryptocurrency – The Future, Or Just A Passing Phase?
In its brief 12 years of existence, Bitcoin has gone from being simply another alternative to e-money, to a wildly popular movement that may lead to the total disruption of the way in which the entire world handles its money. However, despite its rapid adoption rate, many skeptics are doubtful of Bitcoin’s longevity. There are…
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2021: NSW GOV Granting Schools Free Tuition Following COVID Study Lull
The NSW government is poised at capitalising on a $337 million scheme to help get school students back on track following their school study hiatus amid the COVID-19 pandemic. Since the coronavirus outbreak, primary and high school students had to switch to online learning. As of 2021, students will receive tutoring from casual and retired…
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The Federal Budget 2020-21: What you need to know before it’s announced
The Morrison government will announce perhaps the most significant federal budget within the last few decades, hoping to re-stimulate the Australian economy. The annual event is set to take place on Tuesday night, with treasurer Josh Frydenberg taking centre stage to address the government’s plans for a post-COVID-19 recovery. Prime Minister Scott Morrison said in…
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Australian Universities Face Crisis over Funding Reforms and Loss of Revenue
Australia’s university sector is facing turmoil due to severe revenue losses and government reform of tertiary funding. The University of Melbourne’s Centre of Higher Education has found that Australia’s public universities have collectively lost approximately $3.8 billion dollars in revenue. The dramatic reduction in international student enrolments and hardship caused by COVID-19 has been attributed…
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Westpac to Pay Largest Fine in Australian Corporate History
Westpac has agreed to pay AUSTRAC (the Australian Transaction Reports and Analysis Centre) $1.3 billion in fines, the largest in Australian corporate history. The penalty was incurred after AUSTRAC found that Westpac had committed more than 23 million violations against anti-money laundering and counter-terrorism laws. CEO Peter King commented in a statement that the bank…
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How Jobkeeper 2.0 Will Impact You
The legislative reforms to the Jobkeeper scheme were officially passed in the senate last week, ensuring that Jobkeeper 2.0 will commence on September 28. The scheme has provided a lifeline to 3.5 million Australians since its launch in March. These changes will see a dramatic reduction in the subsidies eligibility and payment amount. Here is…
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Australian Economy Enters First Recession in 30 Years
The Australian economy has entered into its first recession in 30 years due to COVID-19 induced global economic instability. The June quarter GDP numbers show that the economy shrunk by 7% within that time, the Australia Bureau of Statistics (ABS) revealing this has been the biggest drop in GDP since it was first recorded in…