Amy Bainbridge

1 week ago | bloomberg.com | Amy Bainbridge

(Bloomberg) -- Australia’s biggest bank has stepped in to provide funding to hospital operator Healthscope Ltd. as the government said it wouldn’t provide a bailout. Healthscope, one of the country’s largest private health care providers, has entered administration, according to a statement Monday. Commonwealth Bank of Australia has provided a A$100 million ($65 million) funding package to support the sale process and ensure normal patient care at its 37 medical facilities, the statement said.

2 weeks ago | bloomberg.com | Amy Bainbridge

Good morning, it’s Amy in Melbourne with your wrap of the biggest stories this Friday morning. Today’s must-reads (listens):• The Bloomberg Australia podcast on rates• Rio Tinto begins search for new CEO• Goldman Sachs APAC changesThe Reserve Bank of Australia this week cut rates again, while pulling off a post-Covid economic crisis soft landing that few central banks have been able to execute.

2 weeks ago | bloomberg.com | Amy Bainbridge

AustralianSuper, the nation’s largest pension fund, is bulking up its global private and listed equities teams, planning to add about half a dozen more staff this year to expand its London and New York offices. The firm’s private equity team has “gone from a team of five to approaching 40 people by the end of this year,” said Mark Hargraves, London-based head of international equities and private equity, in an interview. The fund is hiring “a broad range of roles.”

2 weeks ago | bloomberg.com | Amy Bainbridge

(Bloomberg) -- Growth in Australia’s booming A$4.2 trillion ($2.7 trillion) pensions industry pushed another firm into the so-called mega fund category, a further sign of the country’s swelling retirement pot becoming dominated by the biggest players. With the addition of Hostplus, there are now eight funds meeting KPMG Australia’s mega fund criteria of more than A$100 billion in assets under management, according to analysis released Tuesday.

3 weeks ago | bloomberg.com | Amy Bainbridge

Good morning, it’s Amy here in Melbourne with your Friday newsletter. Today’s must-reads:• Ex-RBA board member urges rate pause• Our latest podcast on banks• Rio Tinto’s aluminum plansFormer Reserve Bank of Australia board member Warwick McKibbin thinks the central bank should keep interest rates unchanged next week. He spoke with my colleague Swati Pandey, citing fiscal stimulus and global uncertainty.