A2 Milk and Synlait settle dispute

Good Morning,

A2 Milk and Synlait settle year-long dispute over infant formula, North Korea to reopen for international visitors, TikTok disputes US claims on China ties in court appeal, legal case over Z Energy's emissions reduction claims moves towards trial, and Ford to recall about 85,000 vehicles due to risk of engine fire.

Let's jump in.

Before The Bell

Markets

• NZX 50 posts biggest weekly gain in four years on rate cut optimism (GR)

• RBA rules out rate cuts this year (NBR)

Earnings and Data

• Walmart raised its forecast for the year, quarterly revenue grew nearly 5% (CNBC)

News Summary

• Whangārei Hospital ED hits 'Code Black' (RNZ)

• McDonald's employee overpaid more than $18,000 in holiday pay (RNZ)

• A2 Milk, Synlait settle year-long dispute over infant formula (RNZ)

• Consumer NZ found 65 percent of shoppers were noticing pricing inaccuracies at the supermarket (RNZ)

• Legal case over Z Energy's emissions reduction claims moves towards trial (RNZ)

• My Food Bag chairman says stabilising demand a positive sign (Herald)

• Starbucks’ new chief awarded $188m pay deal and remote office in Newport Beach, California (Herald)

• ‘Unfair, discriminatory’ Treaty Principles Bill slammed in scathing Waitangi Tribunal report (Stuff)

• Russia sentences American woman to 12 years for donation aiding Ukraine (Stuff)

• Three foreigners sentenced for smuggling half a million cigarettes (Stuff)

• Domino’s Pizza boss names sister as local CEO (AFR)

• TikTok disputes US claims on China ties in court appeal (RT)

• Fortnite returns on iPhones in EU, globally on Android (RT)

• Harvard settles lawsuit alleging it ignored sexual harassment (RT)

• Ford to recall about 85,000 vehicles due to risk of engine fire (RT)

• North Korea to reopen for international visitors (CNBC)

Deal Flow

Investments / M&A

• The M&M owner Mars is acquiring Kellogg spin-off company Kellanova in a deal valued at roughly $36 billion, or $83.50 per share (CNBC)

• Texas Instruments will receive as much as $1.6 billion in direct funding from the U.S. Commerce Department to support the construction of three new domestic facilities (RT)

• Lockheed agreed to acquire satellite products maker Terran Orbital in a US$450 million deal. Lockheed will pay 25 cents per share in cash, representing a 37.5% discount to Terran's last close. Terran's shares plunged nearly 41% to 24 cents on the NYSE (RT)

Daily Picks

• Streaming is getting more expensive for consumers. Here’s why (CNBC)

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