Goldman Sacks

Good Morning,

New Zealand food prices were up 8.3% in August compared with last year, Mercury has confirmed construction on a new wind farm in Gore, American Airlines will be back flying to New Zealand this summer, Australia is likely to extend its pandemic leave payments, inflation in the US has topped forecasts cementing the odds of a big Fed hike, Goldman Sachs is planning to cut hundreds of jobs this month, Jean-Luc Godard, a film director, has died and the Germany Government plans $68B (USD) worth of loan guarantees.

Let's jump in.

Before The Bell

Markets

• The NZX fell as it waited to see the results of the US inflation report. (Stuff)

• The ASX was in the green despite Link Group's and Ramsey Health Care's stocks diving after takeover talks collapsed or teetered. (AFR)

• The S&P 500 finished in the green for the 4th day in a row. (Stuff)

• CPI data for the UK is out on Wednesday their time.

Earnings

• Oracle came up short on Q1 profit expectations but had 18% revenue growth after the Cerner deal closed. (CNBC)

News Summary

• New Zealand food prices were up 8.3% in August compared with last year. (Stuff)

• Locked-out workers at the Kawerau mill operated by Essity, who is Purex's toilet paper manufacturer, will vote on a new deal on Wednesday. (Stuff)

• New Zealand PM Jacinda Ardern has said the issue of New Zealand becoming a republic is not on the government's agenda. (Herald)

• Mercury has confirmed construction on a new wind farm in Gore. (NBR)

• American Airlines will be back flying to New Zealand this summer. (Herald)

• Star Entertainment is not fit for an NSW casino licence and is facing a shutdown. (9 News)

• Australia is likely to extend its pandemic leave payments until no restrictions on isolation are in place. (AFR)

• Inflation in the US has topped forecasts, with CPI climbing 0.1% from July and core CPI up 0.6%. This will cement the odds of a big Fed hike. (BBG)

• Biden is planning to broaden curbs on US chip and tool exports to China. (RT)

• Peloton co-founders John Foley and Hisao Kushi are leaving amid a restructuring. (RT)

• Goldman Sachs is planning to cut hundreds of jobs this month. (CNBC)

• Twitter has rejected Elon Musk's third attempt to cancel his deal to buy the company. (BBG)

• Jeff Bezos' space travel company Blue Origin has had its first accident with a rocket crashing after liftoff. (AP)

• Jean-Luc Godard, a film director, has died. (BBC)

• British unemployment levels hit 3.6%, its lowest level since 1974. (BBC)

• The Germany Government plans $68B (USD) worth of loan guarantees for energy firms. (BBG)

Deal Flow

Investments/ M&A

• Ramsey Health Care's near $30B (AUD) deal with KKR is off. (AFR)

• Despite IMF's threats, Atlas Arteria has signed a $2.93B (AUD) deal to acquire a 66.66% stake in the Chicago Skywalk Motorway. (AFR)

• US drug distributor AmerisourceBergen to buy German company PharmaLex in a $1.3B (USD) deal. (RT)

• Cove Communities, a mobile home business, is nearing a deal for fellow mobile home business Blair in a deal that would value Blair at ~$1B (USD). (BBG)

• Ontario Teachers' Pension Plan Board is nearing a deal to buy a stake in speciality packaging company GPA Global from buyout firm EQT AB. The deal would value GPA in the $700-$800m (USD) range. (BBG)

• Zara Billionaire Amancio Ortega has spent over $700m (USD) buying logistical centres. (BBG)

• Saudi Arabia's sovereign wealth fund PIF has signed a pact to acquire a 30% stake in Almosafer Travel & Tourism Co for $412m (USD). (BBG)

• Aussie search startup Search.io has been acquired by French unicorn company Algolia for over $100m (AUD). (AFR)

• An Australian firm is looking set to acquire NZ IT service firm Fronde in an $8.5m (NZD) deal. (NBR)

• Joe Lewis and his Tavistock/AA Trust now have a 50.07% stake in the Australian Agriculture Company. (AFR)

• BP has bought US-based power and natural gas retailer EDF Energy Services. (BBG)

• AppLovin has withdrawn its offer to combine with Unity Software. (BBG)

• JPMorgan will boost its payments business after acquiring US firm Renovite Technologies. (RT)

• Apex Group, a global financial service firm, has acquired Implemented Investment Holdings, the owner of InvestNow. (NBR)

• Business management software company MYOB has acquired the payroll platform Flare. (AFR)

VC & Fundraising

• Suzuki Motors have taken a stake in Melbourne-based vehicle maker Applied EV in a funding round that raised $21m (AUD) at a $170m valuation. (AFR)

• Internet 2.0, an Australian cybersecurity company, has raised $5m (AUD) at a $50m (AUD) valuation. The round was led by Ellerston Capital and Bondi Partners' 1941 Fund. (AFR)

• Vudoo, a Melbourne-based marketing technology company, is attempting to raise $7m (AUD). (AFR)

• CarExpert has raised $5m (AUD). (AFR)

• Alimetry and Auckland University have received $1m in funding from the Endeavour Fund's Smart Ideas funding pool to develop a wearable device to detect gut surgery complications. (NBR)

Equity Raises

• Intel has cut its expectation for its Mobil Eye's IPO to $30B (USD). (BBG)

• Kuwait conglomerate Alghanim Industries is weighing a $1B (USD) IPO. (BBG)

• Salik Dubai's road toll operator IPO was wrapped up within hours, raising $817m (USD). (BBG)

• Australian listed property owner Aspen Group has launched a $36.3m (AUD) placement at a 4.5% discount. (AFR)

• ASX-listed Lithium Energy launched a $12m (AUD) share placement to investors at a 16.7% discount. (AFR)

Debt Raises

• Banks have kicked off the second part of a debt package for the buyout of Citrix Systems, which is a $4B (USD) secured bond offering. (BBG)

Love our newsletter? Please share it with your friends, family, colleagues or anyone who needs to stay on top of the market. 

Also, if you have any feedback or questions, don't hesitate to hit us up via email or Instagram.