Adam Haigh

Sydney

Sydney Deputy Bureau Chief at Bloomberg News

Bloomberg journalist in Sydney @business Everton, Sydney FC fan. Opinions expressed are mine.

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Articles

Rio Tinto, OpenAI, Trump, Bitcoin: Australia Briefing

2 weeks ago | bloomberg.com | Adam Haigh

Good morning folks, it’s Adam here in Sydney bringing you all the latest news from our bureaus across the globe. Today’s must-reads:• Rio Tinto executive defends future of the Pilbara• Bitcoin hits record high• Ex-BofA banker faces insider trading probeWe start with a division of opinion over the future of Western Australia’s Pilbara region. Rio Tinto executive Simon Trott has defended the iron ore hub’s prospects, after mining billionaire Andrew Forrest delivered a downbeat message.
Goldman Sachs’ New Zealand Head Andrew Barclay to Leave

2 weeks ago | bloomberg.com | Adam Haigh

Barclay joined Goldman Sachs in 1999 and was named managing director in 2006. Photographer: Daniel Acker/Bloomberg(Bloomberg) -- Goldman Sachs Group Inc.’s head for New Zealand, Andrew Barclay, will leave the firm after more than 25 years. Nathan Bond, who joined the firm last year, will continue in his role as head of corporate advisory in New Zealand, according to a memo sent to staff on Tuesday. A spokesperson for Goldman Sachs confirmed the contents of the memo and declined to comment.
Bain Drops Insignia Takeover Bid, CC Capital Talks Go On (1)

3 weeks ago | news.bloombergtax.com | Adam Haigh

Insignia Financial Ltd. said Bain Capital has dropped its takeover offer for the Australian wealth firm, but talks are continuing with the remaining bidder, CC Capital Partners. Bain told Insignia it won’t proceed with a binding offer due to “macro uncertainty caused by the volatility in global capital markets,” according to a statement from Insignia on Wednesday.
Macquarie Sued by Regulator Over Misreporting of Short Sales

3 weeks ago | bloomberg.com | Adam Haigh

The 1 Elizabeth building, which will house the Macquarie Group headquarters in Sydney. Photographer: Brent Lewin/Bloomberg(Bloomberg) -- Australia’s markets regulator is suing Macquarie Group Ltd.’s local securities business, alleging that the firm misreported millions of short sales for more than 14 years. Macquarie Securities (Australia) Ltd.
Bain Drops Out of Insignia Takeover Bid, CC Capital Talks Go On

3 weeks ago | news.bloomberglaw.com | Adam Haigh

Insignia Financial Ltd. said Bain Capital is not proceeding with a takeover offer and talks are ongoing with CC Capital Partners. Bain told Insignia it won’t proceed with a binding offer at this time due to macro uncertainty caused by the volatility in global capital markets, according to a statement from Insignia on Wednesday.
Bain Drops Insignia Takeover Bid, CC Capital Talks Go On

3 weeks ago | bloomberg.com | Adam Haigh

Cranes stand in Melbourne, Australia, on Tuesday, Sept. 1, 2020. A twin-speed economy is developing in Australia and posing a challenge for the central bank, as Chinese demand for iron ore buoys the resource-rich west while eastern states struggle with Covid-19 outbreaks and border closures. Photographer: Carla Gottgens/Bloomberg(Bloomberg) -- Insignia Financial Ltd.
Commonwealth Bank Profit Edges Up Amid Business Loan Growth

3 weeks ago | bloomberg.com | Adam Haigh

A Commonwealth Bank of Australia branch in Sydney, Australia. (Bloomberg) -- Commonwealth Bank of Australia’s profit edged higher in the third quarter amid growth in the firm’s business lending. Unaudited statutory cash profit came in at about A$2.6 billion ($1.7 billion) in the three months ended March 31, according to a statement on Wednesday. That’s 6% higher than the third quarter of the prior year.
Macquarie CEO Says Tech Push in Bank Brings Profits, Staff Drop

4 weeks ago | bloomberg.com | Adam Haigh

Shemara Wikramanayake(Bloomberg) -- Macquarie Group Ltd. Chief Executive Officer Shemara Wikramanayake expects a years-long push to invest in technology within its banking and financial services division to reap further gains. It’s also resulted in lower staff levels. That unit was among the winners when the Sydney-based investment bank and asset management firm earlier reported full-year profit that topped analyst expectations.
Macquarie Shares Climb as Asset Management Drives Profit

4 weeks ago | bloomberg.com | Adam Haigh

Signage for Macquarie Group Ltd. on a building in Sydney, Australia, on Wednesday, May 1, 2024. Macquarie Group is scheduled to report its half-year earnings results on May 3. Photographer: Brent Lewin/Bloomberg(Bloomberg) -- Macquarie Group Ltd. shares advanced as much as 4% as strong asset management fees drove profit that exceeded analysts’ estimates, offsetting continued weakness in its commodities and global markets business.
ANZ Extends Share Buyback Period Amid Trump’s Tariff Uncertainty

4 weeks ago | news.bloombergtax.com | Adam Haigh

ANZ Group Holdings Ltd. moved to extend the time it has to complete its A$2 billion ($1.3 billion) share buyback, citing uncertainty in global conditions. The Melbourne-based lender filed with the regulator to lengthen the buyback period for 12 more months after completing A$1.2 billion of the program, according to a statement Thursday. ANZ will adopt slightly more conservative capital settings, which include the flexibility to adjust the pace of the remaining buyback, it said.