Vindicated Uffindell The Only Blue Amongst Red

September 20, 2022

Good Morning,

Sam Uffindell cleared by independent KC report, Biden says pandemic is 'over', World pauses for Queen's final goodbye, Global economies risk falling into a recession on the back of rate hikes, NZ bank economists increase terminal rate forecast, Biden says US will defend Taiwan against China, Winston Reid to retire from international football and Real Madrid beat Atletico amid Vinicius Jr 'dancing celebration' criticism.

Let's jump in.

Before The Bell

Markets

  • Markets were all in the red as investors worry about looming rate hikes all over the world.

  • Central banks globally could increase rates by a total of over 500 basis points this week.

News Summary

  • Sam Uffindell cleared by independent KC report (NBR)

  • Climate risks are 'here and now' says RBNZ Governor Adrian Orr (NBR)

  • Motor industry association discovers Clean Car Standard applies to motorcycles (NBR)

  • Biden says US would defend Taiwan against a Chinese invasion (BBC)

  • Volkswagen valuing Porsche at $75 billion (USD) in upcoming IPO (BBC)

  • Nations pause for Queen's final farewell (BBC)

  • Biden says 'pandemic is over' (BBG)

  • More Americans are stuck with long term credit card debt (BBG)

  • London Stock Exchange closes for Queen's funeral (BBG)

  • Prosecutors says Terra's Do Kwon may be trying to escape (BBG)

  • Jacinda Ardern envisages New Zealand becoming a republic 'in her lifetime' (BBG)

  • Stockland CEO says housing market will return to balance in 2024 (AFR)

  • Economist warn that Government spending is fuelling inflation (AFR)

  • Thousands more $2 million-plus (NZD) mortgages than in 2019 (Herald)

  • Winston Reid set to retire from international football (Herald)

Deal Flow

Investments/ M&A

  • Frank Makryllos and his partners have purchased Tabcorp's eBet for $62m (AUD) (AFR)

  • Abu Dhabi's IHC buys 15% stake in healthcare provider Burjeel (BBG)

  • Starboard builds stake in website platform Wix (RT)

  • Czech energy investment business Sev.en has bought bankrupt ASX-listed Salt Lake Potash (AFR)

  • PE group Whiteoak has acquired stakes in NSW-based engineering consulting firm MIEngineers and its sister company Benchmark Estimating Software (AFR)

VC & Fundraising

  • New Zealand startup Kitea Health raises $6 million (NZD) for breakthrough implantable medtech (Herald)

Equity Raises

  • Property management firm Onewo Inc seeks up to $784 million (USD) in Hong Kong IPO (BBG)

  • Gas business Tamboran Resources has launched a $133 million (AUD) equity raising (AFR)

  • Printer IVE Group raising $30 million (AUD) (AFR)

Debt Raises

  • NBN Co using the big four banks to tap investors for debt raising (AFR)

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