UBS Group AG is re-entering Australia's wealth management sector, focusing on high net worth women and family offices, following its acquisition of Credit Suisse. With over US$30 billion in managed assets, UBS aims to capitalize on the growing wealth market, particularly as female millionaires increase at nearly double the rate of men. The firm is enhancing its client services by integrating investment banking opportunities and fostering a diverse advisory team to meet the evolving demands of wealthy clients.
23:07 26.11.2024
Trinity Health Mid-Atlantic abandoned its plan to acquire Tower Health's Chestnut Hill Hospital in January 2022, part of a broader trend where over 29 hospital mergers, acquisitions, and partnerships were called off in recent years. Notable cancellations include Community Health Systems' $120 million sale of Commonwealth Health and Novant Health's $320 million acquisition of two hospitals, both facing regulatory hurdles. Other significant deals, such as the merger between Presbyterian Healthcare Services and UnityPoint Health, were also terminated after extensive negotiations.
Apollo Global Management affiliates have provided a $307 million construction loan for the Rosewood Residences Hillsboro Beach, a luxury condo project located on Millionaire’s Mile in South Florida. The development will include 92 residences and 11 private boat slips, enhancing the area's upscale offerings.
Capitolis has secured new strategic investments totaling $20 million from Citi, Morgan Stanley, State Street, and UBS, aimed at enhancing its Capital Marketplace and Portfolio Optimization businesses. The company, recognized for its innovative solutions in capital markets, continues to experience significant growth and momentum, bolstered by partnerships with leading financial institutions. CEO Gil Mandelzis emphasized the importance of collaboration with banks to strengthen financial markets within a regulated framework.
23:00 26.11.2024
Providence reported a $208 million operating loss in Q3 2023, despite a revenue increase to $7.6 billion, driven by higher patient volumes. For the nine months ending September 30, the health system posted a $155 million operating loss, an improvement from $857 million the previous year, while investing $1.3 billion in community benefits. Leadership emphasized ongoing strategies to enhance performance amid rising labor and supply costs.
RTW Investments, a $6.5 billion hedge fund focused on life sciences, is under investigation by the SEC regarding its role in a proxy fight at Masimo Corp. The firm, founded by Rod Wong, is cooperating with the inquiry, which it describes as a fact-finding investigation, clarifying that the probe does not imply any wrongdoing.
Bank of England Deputy Governor Clare Lombardelli emphasized the need for more evidence of declining price pressures before supporting another interest rate cut. In a recent interview, she also highlighted concerns about potential threats to UK growth from a global trade war, particularly in light of US President-elect Donald Trump's tariff threats against Canada, China, and Mexico.
Highmark Health reported $22.1 billion in revenue and $529 million in net income for the first three quarters of 2024, driven by its health plans and increased volumes at Allegheny Health Network (AHN). The AHN experienced a 3% rise in inpatient discharges and a 7% increase in outpatient registrations year-over-year. Despite industry challenges, Highmark's diversified businesses contributed $3.1 billion in consolidated operating revenue.
Spotify Technology S.A. is the leading global music streaming service, boasting over 600 million monthly active users and 250 million paying subscribers. The majority of its revenue comes from these subscribers, who enjoy access to a vast music library, including tracks from major record labels. Additionally, Spotify offers audiobook subscriptions and integrates podcasts into its app, although podcast content is generally available for free on other platforms.
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