Biden has another brain freeze

Biden mixes Harris with Trump but insists he is staying in the presidential race, Warehouse Group to cut jobs at its head office, NZ extends support for US strikes against Houthis in Red Sea, ANZ’s alleged bond trade manipulation is ‘disturbing’ according to Treasurer Jim Chalmers’ office, NZME says it is compliant after share price jump, and Inland Revenue to spend $29m on chasing tax cheats.

July 13, 2024

Good Morning,

Biden mixes Harris with Trump but insists he is staying in the presidential race, Warehouse Group to cut jobs at its head office, NZ extends support for US strikes against Houthis in Red Sea, ANZ’s alleged bond trade manipulation is ‘disturbing’ according to Treasurer Jim Chalmers’ office, NZME says it is compliant after share price jump, and Inland Revenue to spend $29m on chasing tax cheats.

Let's jump in.

Before The Bell

Markets

  • The NZ sharemarket has its best week of 2024 (GR)

  • FTSE 100 hits one-week high after soft US inflation data (RT)

News Summary

  • Pharmac looking to provide more drugs for cancers, other conditions (RNZ)

  • Samsung becomes first tech giant to launch a smart ring (RNZ)

  • NZ extends support for US strikes against Houthis in Red Sea (RNZ)

  • Activity in the NZ manufacturing sector has hit a post-Covid low according to BNZ (RNZ)

  • Luxon calls out 'Russia's callous disregard for life' in meeting with Ukraine President (RNZ)

  • Hamilton man urinates on supermarket shelves in front of shocked shoppers (Herald)

  • Inland Revenue to spend $29m on chasing tax cheats (Herald)

  • NZME says it is compliant after share price jump (Herald)

  • Warehouse Group to cut jobs at its head office (Herald)

  • BHP suspends nickel operations until 2027 (NBR)

  • Stats NZ data showed retail spending using electronic cards fell by $40mil in June (NBR)

  • ANZ’s alleged bond trade manipulation is ‘disturbing’ according to Treasurer Jim Chalmers’ office (AFR)

  • Biden mixes Harris with Trump, insists he is staying in the presidential race (RT)

  • Ukraine urges NATO to lift restrictions on targeting Russia, China denounces criticism (RT)

  • Senator wants Boeing CEO to testify as she prepares new FAA legislation (RT)

Deal Flow

Equity Raises

  • Embattled dairy company Synlait Milk has got the backing of its minority shareholders for a loan of $130m from its Chinese major shareholder Bright Dairy (RNZ)

Daily Picks

  • J-Lo and Ben Affleck don't need 12-bed mansion after all (Stuff)

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