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Admin
May 04, 2023

Good Morning,

The Aussie broking firm Ord Minnett has been fined $950,000 for favouring a significant shareholder of Arowana International, Ed Sheeran threatens he’s ‘done’ if he loses the copyright lawsuit for supposedly stealing material from Martin Gaye and US fentanyl-related overdose deaths have more than tripled since 2018.

Let's jump in.

Before The Bell

Markets

  • Europeans stocks and US futures rise. The Stoxx Europe 600 Index climbed as energy stocks bounced back (BBG)

  • The three main indexes in the U.S fell as worries heighten ahead of the Fed’s impending rate hike

Earnings and Data

  • Uber stock surges 11.5% after beating Q1 revenue estimates and releasing a smaller than expected loss (NYT)

  • Pfizer reported earnings and revenue beat expectations despite a 29% reduction in vaccine sales (CNBC)

  • BP publishes strong results beating profit expectations, although its share price slid 6% following the announcement of its $1.75 billion buyback, which is significantly less than the previous quarter’s near $3 billion move (WSJ)

News Summary

  • The Aussie broking firm Ord Minnett has been fined $950,000 for favouring a significant shareholder of Arowana International in a share buyback prior to being delisted from the ASX (AFR)

  • Dylan Kelly joins Jeremy Bond’s $185 million natural resource fund Terra Capital (AFR)

  • Lawyer Alwyn O’Connor has been found guilty of taking around $200,000 worth of funds from his imprisoned client’s bank account (NZherald)

  • Ed Sheeran threatens he’s ‘done’ if he loses the copyright lawsuit for supposedly stealing material from Martin Gaye’s Let’s Get It On hit single (NZherald)

  • A fuel depot caught ablaze near a busy bridge that links Russia’s mainland with Crimea (RT)

  • US fentanyl-related overdose deaths have more than tripled since 2018 (RT)

  • Teenage boy kills nine in a classroom shooting in Serbia (RT)

  • U.S investors are flooding money into actively managed ETF’s (WSJ)

Deal Flow

Investments / M&A

  • Apax teams up with Canada Pension Plan Investment Board for potential $2 billion bid for IT firm Thoughtworks Holdings Inc (BBG)

  • The French government has been given approval in court for its $10.7 billion offer to buy out minority shareholders of Electricite de France SA (BBG)

  • Sinopec and TotalEnergies SE are in talks with Jafura development as they look to invest $10 billion to assist in new project developments (BBG)

  • Ben Sharpio has taken a $4.7 million (4.8% stake) in Israeli drug company Oramed Pharmaceuticals Inc (BBG)

  • Airbus, Eutelsat and SES look to team up for potential $6.6 billion bid for the European Union’s satellite project called IRIS (BBG)

Equity Raises

  • Montano Aerospace advances on its IPO progress as it looks to select banks for a potential $549 million deal (BBG)

  • German air taxi firm Lilium NV announces it looks to raise up to $250 million to fund its electric vertical take-off and landing jet (RT)

Debt

  • India’s Go First airline files for bankruptcy and blames Pratt & Whitney’s “faulty” engines (RT)

Daily Picks

  • Ed Sheeran threatens he’s ‘done’ if he loses the copyright lawsuit for supposedly stealing material from Martin Gaye’s Let’s Get It On hit single (NZherald)

  • India’s Go First airline files for bankruptcy and blames Pratt & Whitney’s “faulty” engines (RT)

Job Board

New Zealand

  • ASB rural banking graduate - Apply here

  • Waterman Capital investment analyst - Apply here

Australia

  • Citadel Securities graduate and intern roles - Apply here

  • Goldman Sachs Investment Banking Intern - Apply here

  • IMC graduate and intern roles - Apply here

  • Jarden

    • Graduate role - Apply here

    • Summer internships - Apply here

  • Macquarie graduate roles - Apply here

  • Optiver

    • Graduate role - Apply here

    • Internships - Apply here

The Daily Deck is sponsored by Industrial Equity, LLC

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