Latest news with #financeindustry
Bloomberg
a day ago
- Business
- Bloomberg
UK Finance Leads in Foreign Investment Yet Deals Fall Across Europe, EY Says
The UK's finance industry kept its lead over the rest of Europe in attracting foreign investment last year, although activity across the region slowed, according to professional services firm EY. The country attracted foreign investment for 73 finance projects last year, down by 32% on the prior year, while in second-place Germany, deal volumes fell 16% to 32. Throughout Europe, volumes fell 11%, EY found.
Independent Singapore
5 days ago
- Business
- Independent Singapore
Bored at S$70k/year job, Singaporean man considers leaving stable finance job for career in insurance or property
SINGAPORE: A man in his late 20s took to Reddit to ask if anyone has left their corporate office job to become an insurance or property agent, as he considers making a similar move. In a post on the r/askSingapore forum, the Singaporean shared that he is currently working in an office role in the finance industry, earning around S$60,000 to S$70,000 annually. His job follows the standard Monday to Friday, 9-to-6 schedule. While the work itself is manageable, he admitted that he has been feeling increasingly bored and disconnected. 'I am starting to feel bored, and I feel that I can't click with anybody at work. I can go by some days, barely saying a few words to a few people only. I mostly engross myself in my computer screen and do my work as well as some personal errands at times,' he wrote. He went on to explain that he has been considering a switch to a more client-facing role, as he wants to meet new people and eventually grow his own network of clients. 'Sometimes I feel like quitting and changing to another job like insurance agent or property agent because I want to be more sociable, have more opportunities to go out and mingle around, and also, in the long term, hope to build my book of clients and grow my income way beyond what an ordinary corporate job can pay,' he said. Ending his post, he asked the forum, 'Has anyone here left their corporate office job to be an insurance/property agent or other similar roles? Care to share your experiences and whether you regretted it or not?' 'You're probably just bored and need a change of environment.' In the comments, several Redditors advised him to take a step back and think carefully before making such a big move. One Redditor pointed out that wanting more social interaction is not the same as being ready for a full-on sales role. He wrote, 'Are you looking for more interaction in your job, or are you really into sales? There's a difference in dealing with clients or selling something – you have to answer all their questions non-stop, which is not always a fun thing. S$60-70k per annum is not bad for someone in their 20s… I used to want to interact with people more; now it's non-stop meetings, and I just want time to focus on my actual work!' Another echoed this sentiment, writing, 'Let me ask you this: If you are in an environment where you also won't talk to people when they are not actively avoiding you, how do you think you are able to talk to more people and be sociable when you change to a profession that people are actively avoiding you?! If you want to be sociable, maybe start by keeping your job and talking to all the different people in your company first.' A third added, 'Change jobs or teams, I suppose. You're probably just bored and need a change of environment. Like new people or a new job scope to feel like you're learning again.' In other news, a Singaporean mum recently shared a raw and honest post on social media, saying that even though she has everything she once wished for—a family, a house, a car, and a stable job—she still feels like something is missing deep down. 'My heart and mind still feel unsatisfied,' she admitted. See also We're revealing 10 more exhibitors for Echelon Asia Summit 2019! In a post titled 'Drowning in the Depths: What to Do?', she opened up about the emotional challenges of being a working parent and how this has greatly affected her marriage. 'My relationship with my hubby has deteriorated after having my kid. Most of the time, it feels like we are roommates. Also, his capacity for engagement seems to have gone from bad to worse,' she wrote. Read more: Singaporean mum admits feeling unfulfilled despite having a 'family, a house, a car, and a stable job' Featured image by freepik (for illustration purposes only)
Yahoo
6 days ago
- Business
- Yahoo
SocGen's Overnight Economic News Summary
Societe Generale in its early Wednesday economic news summary pointed out: -- US dollar mildly bi Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
12-05-2025
- Business
- Bloomberg
What is Distressed Debt Investing?
Distressed debt investing might sound niche, but it's a multi billion-dollar strategy used by some of the biggest names in finance. David Rubenstein explains how it works -- and why it still matters. (Source: Bloomberg)
ABC News
08-05-2025
- Business
- ABC News
Macquarie Bank's dodgy trading may be tip of 'iceberg' for industry motivated by ‘greed'
Several sources have told the ABC that financial market participants regularly circumvent the law to improve the "bottom line", motivated by "greed". "In the minds of the people doing it, it's probably not consciously 'we're going out to break the system' or be bad but financial people are, by their nature, innovative," professional investor and writer Danielle Ecuyer said. "The motivation of greed — that's humanity, that's the way it works. "If there's a more simple way to get to an optimal bottom line then they will probably pursue it. "You see it in financial products that constantly come to the market and the industry will always look for an easier way, a better way to do something that avoids the rules." Australia's finance industry is riddled with dodgy transactions, according to sources who have spoken with the ABC. ( ABC: Sharon Gordon ) Ms Ecuyer said the continual evolution of the industry posed a problem for regulators. "I think it's a case of regulators constantly chasing their tails," she said. Macquarie Bank in hot water Australia's biggest investment bank has been caught misreporting hundreds of thousands of financial transactions. "[Investment banks] dream up and trade and structure products for clients who have an interest in over-the-counter options solutions and maybe futures solutions as well," investment analyst Henry Jennings said. Australia's biggest investment bank, Macquarie Bank, has been caught misreporting hundreds of thousands of financial transactions. ( AAP: Dan Himbrechts ) Over the counter, or OTC derivatives, are financial contracts traded directly between two counterparties, and not via an exchange like the ASX or Wall Street. What's their purpose? Some of the big electricity users in this country — such as the big aluminium producers — want to lock in the prices they pay for energy. They can do this via a financial futures contract. Macquarie Bank facilitates these transactions. Photo shows Macquarie Group headquarters, Sydney Investment bank Macquarie is hit with additional licence conditions as the corporate regulator slams "multiple and significant compliance failures". Mr Jennings used to run Macquarie Bank's derivatives trading desk in the late 1990s. "Macquarie Bank would then structure a product for, say, for example, Alcoa, that would enable them to ensure they get electricity at the price they've agreed, and they would on-sell that contract perhaps, or even take the position themselves, which would given them exposure to any upside on that pricing structure," he said. To put it at a retail level, it would be like a households calling Macquarie and saying: "We'd prefer to have electricity at $10 a quarter," and they call Macquarie and enter a contract with the electricity wholesaler and lock that price in for you. "So, what would happen then is that if the future price of electricity was $8 instead of $10 then obviously you're paying a little bit over," Mr Jennings said. "If the price went to $20 you'd still be locked in at $10, and anyone who bought that contract from you at [the] $10 level would then benefit from the upside in that electricity price rise." In September 2024, ASIC slapped Macquarie Bank with a record $4.995 million fine for failing to prevent suspicious orders being placed on the electricity futures market. ASIC commissioner Simone Constant suggested on Wednesday that little has changed after that intervention, saying today: "We were particularly disappointed that Macquarie failed to prevent 11 suspicious orders being placed on the electricity futures market via Macquarie terminals shortly after ASIC had referred similar failures to the Markets Disciplinary Panel." "Our intervention underscores our concern with the recurrent nature of Macquarie's failures, which were caused by ineffective supervision and weak compliance and control management," Ms Constant said. ANZ pulled over by corporate cop Macquarie Bank is not the only bank in hot water. The ANZ Bank has been rocked by allegations that its traders manipulated the bond rate during a $14 billion bond raising for the federal government's debt agency. It's alleged the ANZ Bank sought to raise bond yields by trading in what is called the "futures market", which is essentially a market that allows traders to bet on future interest rate moves. The ANZ Bank has also been rocked by allegations of traders manipulating bond rates during a $14 billion raising for the federal government. ( ABC News: Keana Naughton ) "Those bets also influence the reference rate that is used to set the price of new bonds," University of New South Wales banking and finance researcher Associate Professor Mark Humphery-Jenner said. A reference rate is an interest rate benchmark used to set other interest rates. "The government looks to the futures rate to assess what return the market requires on its debt and to set the coupon [interest] rate on the bonds it issues," Dr Humphery-Jenner said. "If that futures rate climbs, then so too does the coupon rate on the government's new bond issues. "This increases the government's total interest bill. " ANZ is alleged to have manipulated futures yields higher, enabling it to buy bonds from investors at a low price, " Bond prices move inversely to their interest rate. Banking royal commission's dark shadow The Royal Commission into Misconduct into the Banking, Superannuation and Financial Services Industry, was established in 2017. Led by Commissioner Kenneth Hayne, it investigated misconduct within the banking, superannuation, and financial services sectors. There were concerns, however, that too few recommendations from the inquiry were implemented. The Albanese government legislated the Financial Accountability Regime (FAR) in September 2023. This completed the final major recommendation to government made by the banking royal commission. The FAR replaced the Banking Executive Accountability Regime by imposing tough new accountability obligations on banks, insurers, and superannuation funds. The FAR ensures that these institutions clearly identify individuals who will be held accountable for the actions of the organisation. Risk of widespread suspicious trading in finance industry Dr Humphery-Jenner is concerned "suspicious transactions" in the finance industry remain widespread. "There's certainly the risk of it," he said. "How large that is — potentially there could be more illicit or illegal transactions underneath that iceberg. "For stocks there are often automated programs that will look for suspicious or very odd transactions — particularly around market announcements — however, in this particular case, we're looking at over-the-counter derivatives where there's a lot less of that type of automated screening. " So, absolutely there's a risk of [widespread dodgy financial transactions] which is why ASIC really wants to get that compliance in order. " Macquarie Bank released a statement responding to ASIC's action. "Macquarie Bank takes its role as a licensed entity extremely seriously, including the importance of ensuring the integrity of the markets in which it operates and learning from instances where compliance has been inadequate," the bank said.
