AUS Banks to refund customers on low incomes

Good Morning,

NZ sharemarket flat amid international turmoil, Craigs sees more NZX-listed company downgrades ahead, HelloFresh falls behind My Food Bag as revenue drops 30%, Whangārei Boys’ High School board pleads guilty to charges in Abbey Caves death, Labor warned against union-friendly donations laws, War has prevented 15m children being immunised against diseases, Google parent in talks to buy cybersecurity startup Wiz for $USD 23 billion, Fraud-fighter VigilantPay gears up for capital raise

Let's jump in.

Before The Bell

Markets

• NZ sharemarket flat amid international turmoil (GR)

• Craigs sees more NZX-listed company downgrades ahead (NBR)

• ASX crosses 8000 as tech stocks rally (AFR)

• China’s economy growing slower than expected as leaders meet for third plenum (Guardian)

• Argentina to buy $1.5 bln from cenbank to pay bond interest due in January (RT)

• Pakistan shares hit fresh record after new IMF deal (RT)

• China's June coal output rises to six-month high on summer demand (RT)

Earnings and Data

• HelloFresh falls behind My Food Bag as revenue drops 30% (NBR)

News Summary

• Whangārei Boys’ High School board pleads guilty to charges in Abbey Caves death (Stuff)

• Labour spent $64m on Three Waters consultants (Stuff)

• Hurunui council confirms 10.98% rates rise as it adopts 10-year plan (Stuff)

• Labor warned against union-friendly donations laws (AFR)

• Liontown stops holding out on sending lithium to China (AFR)

• Banks to refund $28 million to customers on low incomes (9 News)

• The Star shut downs all pokies after upgrade glitch (9 News)

• Warning of damaging winds as blast of chilly weather continues (9 News)

• War has prevented 15m children being immunised against diseases, UN warns (Guardian)

• Copenhagen offers tourist rewards as other EU nations clamp down (Guardian)

• Clearing Gaza of almost 40m tonnes of war rubble will take years, says UN (Guardian)

Deal Flow

Investments / M&A

• Google parent in talks to buy cybersecurity startup Wiz for $USD 23 billion (RT)

• Mubadala, QIA Lead $600 Million Investment in Trailer Lessor TEN (BBG)

• Farquhar’s Skip Capital will back J-Power’s $AUD 380 million takeover of Genex (AFR)

• Mystery shrouds $NZD 56m Marsden Pt option holder (NBR)

• AirTrunk’s pitch to the world’s heaviest hitting investors (AFR)

• Adamantem Capital brings in investment bankers for Hellers sale (AFR)

• Australia's Rio Tinto to pursue development of solar farm for WA iron ore ops (RT)

• Airbus, Thales looking at merging some of their space activities (RT)

• Temasek’s Unit to Buy Stake in Private Credit Fund ADM Capital (BBG)

Equity Raises

• Fraud-fighter VigilantPay gears up for capital raise (NBR)

• Saudi Wealth Fund Picks JPMorgan, Morgan Stanley for Nupco IPO (BBG)

Daily Picks

• Carlos Alcaraz blows Novak Djokovic away in three sets to claim second Wimbledon title (Nine)

• Deadly elephant herpes (Guardian)

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