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Musk Increases Accessibility to Crypto and Stocks, as Both Continue to Thrive in the Markets

April 15, 2023

Good Morning,

World's most expensive licence plate fetches whopping $23.7m, 'Light at the end of the tunnel' for recovering tourism sector, Twitter partners with eToro to let users trade stocks, crypto as Musk pushes app into finance, the World Has 28% Risk of New Covid-Like Pandemic Within 10 Years, and US Embarrassed After 21-Year-Old Arrested in Classified Documents Leak.

Let's jump in.

Before The Bell

Markets

  • Markets were mostly up over the past day. The NZX 50 was the only measured asset down, specifically -0.4%, the ASX 200 increased +0.5% to 7,361.60, the S&P 500 gained +1.3% to 4,146.22 and the Nasdaq rose +2.0. All treasury bond yields increased.

  • European Stocks Eye Longest Weekly Winning Streak Since December (BBG)

Earnings and Data

  • Birkin bag maker Hermes sees no U.S. slowdown as sales jump 23% (CNBC)

  • Singapore rent prices are still sky-high. Long-time expats are having to consider drastic changes (CNBC)

  • The yen could reach 120 per dollar, up 20% from October’s peak (CNBC)

  • Germany is expected to narrowly escape recession and post modest growth in the first quarter of the year, according to an economy ministry report published on Friday (RT)

News Summary

  • The world's most expensive license plate has been sold in Dubai, fetching a whopping NZ$23.7 million (1 News)

  • Nine dogs have been euthanised at a Christchurch animal shelter after contracting the highly contagious parvovirus (1 News)

  • An Air New Zealand flight from Auckland to Hong Kong was forced to turn back due to a mechanical issue today (1 News)

  • More than 2 million international visitors came to New Zealand between February 2022 and 2023 – around two-thirds the pre-pandemic figures (1 News)

  • A further almost $110 million will be spent on the new Dunedin Hospital, making it the "largest ever health infrastructure project in New Zealand", according to the Government (1 News)

  • Jarryd Hayne has been jailed ahead of sentencing after being found guilty on two counts of rape (1 News)

  • Paramedic stabbed to death outside Sydney McDonald's identified (9 News)

  • An Australian man has been charged with foreign interference after allegedly compiling a number of reports for spies working for another nation (9 News)

  • Twitter will let its users access stocks, cryptocurrencies and other financial assets through a partnership with eToro, a social trading company (CNBC)

  • US Embarrassed After 21-Year-Old Arrested in Classified Documents Leak (BBG)

  • There’s a 27.5% chance a pandemic as deadly as Covid-19 could take place in the next decade as viruses emerge more frequently, with rapid vaccine rollout the key to reducing fatalities, according to a predictive health analytics firm (BBG)

  • North Korean Missile Alert Sparks Fear and Confusion in Japan, Again (BBG)

  • Bluefocus Intelligent Communications Group Co. plans to replace its external copywriters and graphic designers with ChatGPT-like generative AI models (BBG)

Deal Flow

Investments / M&A

  • Bodhi Tree, a joint venture between James Murdoch and a former Star India executive, has reduced its planned investment in Reliance's broadcast venture Viacom18 by 70% and will now pump in 43.06 billion rupees ($527.84 million USD), Viacom18 said late on Thursday (RT)

  • Private equity firm Bridgepoint Group Plc is preparing to sell its majority stake in French insurance broker Kereis, people familiar with the matter told Reuters, in a deal that could value the company in the region of 2 billion euros ($2.21 billion USD) (RT)

  • Dechra, a British veterinary pharmaceuticals maker, said on Thursday it had entered into talks with private equity group EQT for a possible offer in a 4.63 billion pounds ($5.80 billion USD) all-cash deal (RT)

  • A group led by billionaire Josh Harris has reached a deal to buy the NFL’s Washington Commanders for $6 billion USD, according to a person familiar with the matter, in what would be the largest amount ever paid for a US professional sports team (BBG)

  • A private equity consortium backed by CVC Capital Partners is in talks about a potential acquisition of Middle Eastern credit card processor Network International Holdings Plc. (BBG)

  • Haslam Family Set to Complete Purchase of NBA’s Milwaukee Bucks From Marc Lasry (BBG)

  • The owner of English Premier League club Leeds United is considering a bid for Inter Milan, one of Italy’s most storied football teams and worth an estimated €1 billion ($1.1 billion USD) (BBG)

  • Raleigh Finlayson-led gold miner Genesis Minerals has put a $450 million USD placement to investors to help pay for St Barbara, while the two remain in voluntary suspension to recut their merger agreed just before Christmas (AFR)

VC & Fundraising

  • Context Labs, a data provider that helps companies track carbon emissions, is looking to raise up to $150 million USD from investors, two people familiar with the matter said, amid growing demand from businesses to better assess their environmental footprint (RT)

Equity Raises

  • Lottomatica, the Italian gambling company backed by Apollo Global Management Inc., is looking to raise €425 million ($467 million USD) of fresh capital in a Milan initial public offering this year, injecting life into Europe’s moribund equity capital market (BBG)

Debt

  • Wall Street Banks Gain Ground on Private Credit for LBO Debt Deals (BBG)

Daily Picks

  • A lucky Tauranga couple learned they had won a life-changing Lotto jackpot whilst hiking on top of a mountain (1 News)

  • Sydney man reveals six-figure luxury he's buying after winning $30m (9 News)

Job Board

New Zealand

  • BDO graduate and intern roles - Apply here

  • Bell Gully summer intern roles - Apply here

  • Buddle Findlay summer clerkships - Apply here

  • Chapman Tripp winter and summer clerkships and clerk roles - Apply here

  • Deloitte intern roles - Apply here

  • Deloitte graduate roles - Apply here

  • DLA Piper insight programme,summer clerkships and clerk roles - Apply here

  • EY graduate and intern roles - Apply here

  • Forsyth Barr associate analyst - Apply here

  • Forsyth Barr associate analyst (global equities) - Apply here

  • Grant Thornton graduate roles - Apply here

  • KPMG graduate and intern roles - Apply here

  • PWC graduate and intern roles - Apply here

  • Russell McVeagh summer clerkships - Apply here

  • Russell McVeagh clerks - Apply here

Australia

  • Citadel Securities graduate and intern roles - Apply here

  • Goldman Sachs Investment Banking Intern - Apply here

  • IMC graduate and intern roles - Apply here

  • Jarden

    • Graduate role - Apply here

    • Summer internships - Apply here

  • Macquarie graduate roles - Apply here

  • Optiver

    • Graduate role - Apply here

    • Internships - Apply here

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