Twitter Trauma

November 19, 2022

Good Morning,

Crypto is cooked, Ardern tells Chinese leader Xi Jinping international rules are being 'tested', Hundreds of Twitter employees leaving after Thursday ultimatum from Elon Musk, Next week, banks in the euro zone will repay almost 300bn to European Central Bank, Goldman claims China and South Korea Stocks to Outperform in 2023.

Let's jump in.

Before The Bell

Markets

US Stock futures rise as investors evaluate the prospect of increased interest rates (CNBC)

ASX increases by 0.2 percent but down marginally for the week. (AFR)

Earnings and Data

  • Meal kit company My Food Bag's shares fell 15.5% today but thanks to energy companies like Mercury, Contact, and Meridian having a good day, New Zealand’s market still ended the day in positive territory. (GR)

  • A2 Milk sees a small double-digit growth in 2023, earnings in line (Herald)

  • Alibaba surprisingly reveals quarterly loss, as stalled growth in revenue fell short of covering for tech investment writedowns. (BBG)

News Summary

  • The (NZ) Government is looking at pushing back the due date to meet Healthy Homes standards for landlords and Kāinga Ora. (Stuff)

  • Things are looking up for Ruapehu ski fields after creditors’ meeting. (NBR)

  • Employees at Elon Musk's social media company Twitter were given the choice to stick with the new, "hardcore," working environment or quit. Twitter's offices were shuttered, according to a document seen by Bloomberg resulting in severe economic severance. (BBG)

  • Next week, banks in the euro zone will repay 296 billion euros in long-term loans from the European Central Bank as it tries to combat rampant inflation. (RT)

  • Qatar's U-turn, confirming a ban on beer for the world cup as we edge closer to kick-off for the world cup. (Guardian)

 

Deal Flow

Investments/ M&A

  • Abu Dhabi Ports Group, an portfolio of various logistics, ports, maritime and digital businesses, acquires Spanish logistics firm Noatum for $680m USD. (BBG)

  • Fonterra, The NZ multinational dairy co-operative, has announced a conditional deal to sell its Chilean business, Soprole, for about $1.06b NZD to Gloria Foods, a consumer dairy market leader in South America. (NBR)

  • Australian mining company BHP brings OZ Minerals (another Australian mining company) saga to a head with the best and final offer of $28.25 per share. (AFR)

  • Link, an Australian share registry firm, chips off $105m AUD digital property settlement platform Pexa stake. (AFR)

VC & Fundraising

  • Blackstone Files for Nexus Mall REIT IPO at value of$3 Billion USD (BBG)

  • former PayPal exec Jack Selby has new $110m USD VC fund for Arizona startups (TC)

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