Traffic Lights Scrapped

September 13, 2022

Good Morning,

The New Zealand Government has scrapped the traffic light system and mask mandates, Australian Home Affairs Ministers Clare O'Neil will appoint 3 Australians to lead the six month-review of Australia's migration system, King Charles visited parliament for the first time as a monarch, Disney CEO says sports betting is part of the strategy moving forward, and Japan could lift the cap on foreign tourists to boost the economy.

Let's jump in.

Before The Bell

Markets

  • The NZX started the week well on the back of positive news from diary companies. (Stuff)

  • The ASX also enjoyed a good start to the week on the back of a rally in commodity prices, which led to a strong performance from the materials sectors. (AFR)

  • US futures were up before the opening, but investors' focus will be on the US CPI data released on Tuesday. (BBG)

Earnings & Individual Share News

  • Australian financial service firm MA Financial fell 20.6% before a trading halt on the back of news of potential changes or the cutting of the significant investor visa in Australia. (AFR)

News Summary

  • The New Zealand Government has scrapped the traffic light system and mask mandates. (Stuff)

  • Air New Zealand will not require passengers to wear a mask. (Stuff)

  • The New Zealand Government has announced there will be a public holiday on the 26th of September to mark the Queen's death. (Stuff)

  • Workers sacked due to the vaccine mandates in New Zealand won't have the right to get their job back. (Stuff)

  • Overseas visitor numbers to New Zealand exceed 100,000 for the first month since March 2020. (Stuff)

  • Genesis has hired Christchurch Airport CEO Malcolm Johns as CEO. (Stuff)

  • Synlait has confirmed A2 Milk's infant powder has received a Chinese regulatory extension until the 21st of February, 2023. (NBR)

  • Australian Home Affairs Ministers Clare O'Neil will appoint 3 Australians to lead the six month-review of Australia's migration system. (AFR)

  • Australian pelvic mesh implant victims have won a $300m payout from Johnson and Johnson. (9 News)

  • Australian PM Anthony Albanese has said there is no timetable for the republic referendum. (9 News)

  • JBWere boss Justin Greiner has resigned. (AFR)

  • The Swedish election was too close to call, and the result could be unknown until Wednesday. (BBC)

  • King Charles visited parliament for the first time as a monarch. (BBC)

  • The UK economy grew slower than was expected in July. (BBC)

  • AstraZeneca is planning to more than double new cancer drugs by 2030. (BBG)

  • Disney CEO says sports betting is part of the strategy moving forward and is part of the reason they are keeping ESPN. (BBG)

  • Japan could lift the cap on foreign tourists to boost the economy. (BBC)

  • 19-year-old Carlos Alcaraz has won the US Open. (BBC)

Deal Flow

Investments/ M&A

  • Air India will expand its fleet by leasing 30 Boeing and Airbus aircraft. (RT)

  • Ubisoft is still open to other partners after the Tencent deal. (RT)

  • PE firm KKR is seeking an adviser to sell its stake in Indian financial service firm Avendus Capital in a deal that would value the company at ~$500m (USD). (BBG)

  • Link Group's $2.5B (AUD) buyout is in the balance as there might be a hitch in getting UK Financial Conduct Authority approval. (AFR)

VC & Fundraising

  • DataMesh, a Sydney-based payments start-up, is expected to attempt to raise $15m (AUD) at a $115m (AUD) valuation. NAB's venture capital arm is expected to lead the raising round. (AFR)

Equity Raises

  • The Sustainable Farmland Trust is planning to list on the London stock exchange in a bid to raise £200m to invest in US farmland assets. (BBG)

  • The Independent Living REIT plans to raise £150m via a London stock exchange listing to invest in supported housing. (BBG)

  • Aspen Group, an Australian property group, is expected to seek a $30m (AUD) equity raise. (AFR)

  • Cannasouth, a New Zealand-listed medical cannabis company, has fallen short of its desired capital-raising target of $4.1m (NZD) as raised $3.2m (NZD). (NBR)

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