AIR NZ needs the PM back

Author

Toby Brown
February 20, 2024

Good Morning,

NZ fragrance start-up Maison&Muse lands $24m deal with Target, Walmart, China state banks earmark US$8 Billion for property projects, Partech closes its second Africa fund at $300M+ to invest from seed to Series C, Storm sweeps through Sydney, four people in hospital after lightning strike, Precious metal producer Polymetal International agrees to sell Russian assets in $3.69 billion deal, Molecular farming startup Miruku secures $8m in cap raise

Let's jump in.

Before The Bell

Markets

  • ASX edges higher as Lendlease leads property plunge (AFR)

  • India offers protesting farmers support prices on corn, cotton, pulses (RT)

  • Bearish Yen positions increase as Japan stocks near record high (BBG)

  • China state banks earmark US$8 Billion for property projects (BBG)

Earnings and Data

  • Global marketer a2 Milk surged, and leading retirement village operator Ryman Healthcare tumbled on contrasting earnings updates as the company reporting season heated up (GR)

  • Air NZ guides ‘adverse’ 2H due to competition and costs (NBR)

  • Electricity generator Contact Energy has expressed confidence in securing a new supply deal for its mega-customer in Southland, the Tiwai Point aluminium smelter, which would otherwise be closing at the end of this year. After Contact announced their half year earnings (NBR)

News Summary

  • NZ fragrance start-up Maison&Muse lands $24m deal with Target, Walmart (Stuff)

  • Cheaper watermelons add to fruit and vege price drops (Stuff)

  • Parliament is considering legislation to regulate residential property managers (NBR)

  • Storm sweeps through Sydney, four people in hospital after lightning strike (Stuff)

  • Government calls for the full force of benefit sanctions (Stuff)

  • At $40 a pack and the deadly risks, who are Australia's 2.5 million smokers? (9 News)

  • NSW government to build 100 new public preschools under $769 million expansion (9 News)

  • Queensland uni student Cassiel Rousseau following in grandfather's Olympic footsteps (9 News)

  • Taylor Swift touches down in Sydney ahead of four sold-out shows (9 News)

  • Russia’s war in Ukraine is igniting an old debate in Brussels over debt (CNBC)

  • Israel indicates March deadline for Gaza ground offensive in Rafah (BBC)

  • Lunar New Year: China tourism spending tops pre-Covid level (BBC)

  • Papua New Guinea ambush: Dozens shot dead in Highlands region (BBC)

Deal Flow

Investments / M&A

  • Precious metal producer Polymetal International agrees to sell Russian assets in $3.69 billion deal (RT)

  • Stokes’ Seven Group bids to take full control of Boral (AFR)

  • CVC Asia Pacific approach at $1.60 a share puts APM Human Services in play (AFR)

  • Integral Diagnostics tops Pacific Equity Partners’ Secure Assets Fund’s radiology hit list (AFR)

  • Whitehaven kicks off mini-BHP coal auction; eyes on AvidSys (AFR)

  • Air India, Tata Advanced Systems to invest US$277m in Indian state of Karnataka (RT)

VC & Fundraising

  • Partech closes its second Africa fund at $300M+ to invest from seed to Series C (TC)

  • Molecular farming startup Miruku secures $8m in cap raise (NBR)

Daily Picks

  • Football Ferns secure Paris Olympics place with big win (Stuff)

  • Kiwi Melbourne Cup winner ‘Verry Elleegant’ dies giving birth to first foal (Stuff)

The Daily Deck is sponsored by Industrial Equity, LLC

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