Venezuela opposition leader FLEES to Spain

Good Morning,

Westpac gets new CEO, talk of jumbo US rate cut, Fonterra announcement, Boeing Reaches Deal With Biggest Union in Effort to Avoid Strike, China Opens More Sectors to Foreign Investment, Christopher Luxon says his hands are tied on Treaty Bill, Couche-Tard asks 7-Eleven owner for talks after $38.5 billion offer rejected, A $1.2b refi at Foxtel may supersede News Corp’s sale attempts

Let's jump in.

Before The Bell

Markets

• Iron ore drops below $US90 as China ‘contagion’ batters commodities (AFR)

• Bond traders dismiss talk of jumbo US rate cut (AFR)

• ASX slumps; Westpac gets new CEO; Boomers drive luxe apartment demand (AFR)

• China Opens More Sectors to Foreign Investment (WSJ)

Earnings and Data

• Fonterra announcement ‘a shot in the arm’ for Southland: Simmonds (Stuff)

News Summary

• Christopher Luxon says his hands are tied on Treaty Bill, set for release in two months (Stuff)

• Alliance looking to partners for growth (Stuff)

• Key money and other fees landlords can't charge tenants (Stuff)

• Track repaired at Sydney's Central Station, but ongoing delays expected (9 News)

• More Queensland families sinking into debt just to afford basics (9 News)

• Boeing Reaches Deal With Biggest Union in Effort to Avoid Strike (WSJ)

• Venezuela opposition leader Edmundo González lands in Spain after fleeing country (Guardian)

• Labour to give English local authorities power to run bus services (Guardian)

• Apple to unveil iPhone 16 and ‘Apple Intelligence’ AI features (Guardian)

Deal Flow

Investments / M&A

• Couche-Tard asks 7-Eleven owner for talks after $38.5 billion offer rejected (RT)

• Methanex to acquire OCI's methanol business in $2.05 bln deal (RT)

• Charter Hall and Hostplus take $710m bet on regional pubs landlord (AFR)

• Chicken producer ProTen whets bidder appetite (AFR)

• ARB jumps after buying Hoonigan’s 4 Wheel Parts (AFR)

• Bending Spoons to lay off 75% of WeTransfer staff post deal (RT)

Equity Raises

• Greatland Gold in $500m raise for Newmont’s Telfer (AFR)

Debt

• A $1.2b refi at Foxtel may supersede News Corp’s sale attempts (AFR)

• U.S. discount home goods retailer Big Lots said on Monday it has secured $707.5 million to support its operations and sell its business to private equity firm Nexus Capital, as it has initiated bankruptcy proceedings under Chapter 11. (RT)

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