New Post

July 06, 2023

Good Morning,

The New Zealand economy is poised for a setback as export prices for meat and logs witness a significant decline, the RBA has chosen to maintain the interest rates at 4.1 per cent, amidst a surge in demand for electric cars, both Tesla and BYD achieved record-breaking sales figures, fossil-fuel debt deals lag behind as green bonds take a significant lead.

Let's jump in.

Before The Bell

Markets

  • In a late-day surge, the New Zealand share market gained momentum and surpassed the 12,000-point milestone for the first time in seven weeks (GR)

  • Following OPEC+ supply reductions, the oil market experiences a retreat subsequent to a rally.

  • Following the decline in Asian shares, US equity futures and European stocks also retreated, accompanied by a decrease in bond prices. This downward trend was triggered by discouraging services-industry data from China, which raised new apprehensions regarding the global economic outlook (BBG)

News Summary

  • The New Zealand economy is poised for a setback as export prices for meat and logs witness a significant decline (Herald)

  • The Reserve Bank of Australia has chosen to maintain the interest rates at 4.1 per cent, but has cautioned that further increases will be necessary to manage inflation (9News)

  • Taylor Swift's Eras Tour is projected to achieve an unprecedented milestone with record-breaking sales of $1 billion (CNBC)

  • Amidst a period of severe weather, 15 individuals lose their lives in a Chinese city due to flooding (BBG)

  • Amidst a surge in demand for electric cars, both Tesla and BYD achieved record-breaking sales figures (BBG)

  • With a $20 billion shopping pilot, TikTok emerges as a significant threat to Amazon (BBG)

  • Fossil-fuel debt deals lag behind as green bonds take a significant lead (BBG)

  • In a technology race with Boeing, Airbus conducts trials of innovative wing designs (RT)

  • To safeguard advanced technology, the United States is considering limitations on China's access to cloud computing (WSJ)

Deal Flow

Investments / M&A

  • India's HDFC Bank has finalised its $40 billion acquisition of the country's largest mortgage lender, making it the world's fourth-largest bank by market capitalisation (CNBC)

  • Private equity firm GTCR is in advanced discussions to purchase a majority stake in the merchant business of Fidelity National Information Services. The deal, estimated to be valued between $15 billion and $20 billion, marks a significant development in the payment processing industry (RT)

  • Abu Dhabi and OMV of Austria are in talks to determine the valuation and ownership framework for a possible merger between Borouge and Borealis (BBG)

  • Haleon, the owner of Advil, is considering the sale of its nicotine gum business Nicotinell, which is estimated to be worth up to $800 million (BBG)

VC & Fundraising

  • Avaada Group has concluded a groundbreaking funding round of $1.3 billion, reaffirming its dedication to green energy. This investment represents the largest equity round ever achieved by a green energy company in Asia (PRN)

  • A91 Partners invests $30 million in KaarTech, a renowned global consulting firm specialising in digital transformation (PRM)

  • Kenyan e-health startup, MyDawa, raises $20 million in funding from Alta Semper Capital to expand regionally and diversify its product offerings (TC)

Equity Raises

  • Shein is engaging in discussions with banks and exchanges regarding a potential IPO in the United States (RT)

  • Cinven, a buyout fund, and CPPIB, a Canadian pension fund, have enlisted the services of Morgan Stanley to prepare an IPO for Hotelbed, a Spanish company specialising in hotel rooms which is currently valued between $4.89 billion and $5.97 billion (RT)

Daily Picks

  • The New Zealand economy is poised for a setback as export prices for meat and logs witness a significant decline (Herald)

  • Fossil-fuel debt deals lag behind as green bonds take a significant lead (BBG)

Job Board

New Zealand

  • ASB rural banking graduate - Apply here

  • Waterman Capital investment analyst - Apply here

Australia

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  • IMC graduate and intern roles - Apply here

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