Carbon Dioxide Joins Eggs on NZ's 2023 'Ration list'

Good Morning,

Elon Musk breaks world record for 'worst loss of fortune,' Guinness says, Gemini and Genesis Sued by SEC Over Crypto ‘Earn’ Program, Tesla Cuts Prices Across Models Sold in U.S, New Zealand Government says carbon dioxide supplies being rationed and 'prioritised' and Apple CEO Tim Cook requests and receives a 40% pay cut after shareholder vote.

Let's jump in.

Before The Bell

Markets

• Markets again followed the same mostly positive trend as they have been for the past few days. The NZX 50 moved +0.8% higher to 11,754.44, the ASX 200 gained +0.7%, to 11,001.10, the S&P 500 moved +0.3% higher and the Nasdaq gained +0.6%. All 3 treasury bond yields continued to slide, likely as a result of the recent US CPI data

• Tesla has slashed prices on its electric vehicles in the United States and Europe, the automaker's website shows, extending a new strategy of aggressive discounting after missing Wall Street estimates for deliveries (RT)

• European stocks were set for their biggest gains in the first two weeks of the year on record amid signs of cooling US inflation, while data showed the UK economy grew unexpectedly in November (BBG)

• Bitcoin Rally Shows That Where Tech Stocks Go, Cryptocurrencies Follow as Equities advance brings buoyancy to crypto after FTX collapse (BBG)

Earnings and Data

• The U.S. government's December budget deficit quadrupled from a year earlier to $85 billion as receipts shrank slightly and outlays grew to a new December record, the Treasury Department said on Thursday as it neared the $31.4 trillion federal debt limit (RT)

• China’s trade balance grew to a surplus of $78 billion in December, data from the Customs Administration showed. The figure was higher than expectations of $76.2B, as well as last month’s reading of $69.84B (Yahoo Finance)

• U.K. GDP grew 0.1% in November, according to new data Friday from the Office for National Statistics, defying economists’ expectations and reducing the likelihood that Britain entered a technical recession in the fourth quarter (CNBC)

• Taiwanese chipmaker TSMC saw record Q4 profit of Q4 profit T$295.9 bln but warned on Thursday that first-quarter revenue would drop as much as 5% and it would slash annual investment as the major Apple Inc (AAPL.O) supplier expects softer demand due to a slowing global economy (RT)

News Summary

• A massive storm system whipping up severe winds and spawning tornados cut a path across the US South, killing at least seven people in Georgia and Alabama, where a twister damaged buildings and tossed cars in the streets of historic downtown Selma (Stuff)

• Japanese prosecutors formally charged the suspect in the assassination of former Prime Minister Shinzo Abe with murder, sending him to stand trial, a Japanese court said Friday (local time) (Stuff)

• The New Zealand Government says carbon dioxide supplies being rationed and 'prioritised' (Stuff)

• NSW man allegedly faked own kidnapping on New Year's Eve before being found eight minutes away (9 News)

• Lisa Marie Presley, daughter of Elvis Presley and Priscilla Presley, dies aged 54 (9 News)

• Apple Inc. is cutting Chief Executive Officer Tim Cook’s compensation by more than 40% to $49 million in 2023, citing investor guidance and a request from Cook himself to adjust his pay (BBG)

• Putin’s military command reshuffle reveals a power struggle at the heart of the Ukraine war (CNBC)

Deal Flow

Investments / M&A

• Crayfish Bidco Oy, a company controlled by Triton, said on Thursday it has bought a 9.9% stake in Finnish construction company Caverion Oyj (CAV1V.HE), following the Swedish venture capital group's $1.17 billion (USD) takeover bid on Tuesday (RT)

• ExxonMobil (XOM.N) has agreed to sell its two-thirds stake in Esso Thailand (ESSO.BK) to Thai energy firm Bangchak Corporation (BCP.BK), the companies said, in a deal valued at about 20.1 billion baht ($603 million USD) (RT)

• World View, which focuses on remote sensing and stratospheric surveillance, has agreed to go public through a merger with Leo Holdings Corp. II which is set to value the combined entity at about $350 million (USD) (BBG)

• China's Alibaba Group (9988.HK) sold a 3.1% stake in Indian digital payments firm Paytm (PAYT.NS) for a total of $125 (USD) million through a block deal on Thursday (RT)

• India's national company law tribunal has allowed the ownership of carrier Jet Airways to be transferred to the Jalan-Kalrock consortium, news channel CNBC TV 18 reported on Friday (RT)

Equity Raises

• ST Telemedia Global Data Centres, a company backed by Singapore’s state-owned investment firm Temasek Holdings Pte, is exploring a potential initial public offering that could raise more than $1 billion, according to people with knowledge of the matter (BBG)

• Saudi Arabian automotive services firm Petromin Corp. is reviving plans for its initial public offering in the kingdom that could raise as much as $1 billion, according to people familiar with the matter (BBG)

Daily Pick

• Adidas loses N.Y. trial against Thom Browne over three-stripe design. A Manhattan jury on Thursday said Adidas AG (ADSGn.DE) had failed to show luxury brand Thom Browne Inc's use of stripes on its clothing infringed the sportswear giant's signature three-stripe trademark (RT)

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