Australia News Today: Cbus Art Auction; Goldman on Aussie M&A; Buyback Boom – Bloomberg

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Good morning, it's Jackie here in Sydney. A series of auctions is raising questions about what role financial institutions should play in supporting local art scenes. But first…

Today’s must-reads:
• Goldman sees cash from super funds lifting M&A
• Buybacks are booming this year
• Star shows the casino industry is too big to fail
Art of the deal. Some of Australia and New Zealand’s biggest financial institutions are selling down their vast art collections after decades of holding works of the region’s best-known painters. Cbus will auction the last of about 300 pieces, with the final tranche featuring about two dozen Indigenous artists. The sale comes as super funds face heightened scrutiny of their balance sheets.


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