Markets Rise, as Does Hipkins Chances to be PM

Good Morning,

Chris Hipkins firming up as the top pick for PM within Labour, Usain Bolt Lost $12 Million in Savings to a Scam, Fourth Qantas plane suffers mechanical issue in 3 days, Alec Baldwin to be charged with involuntary manslaughter over fatal shooting and Crypto Lender Genesis Files for Bankruptcy, Ensnared by FTX Collapse.

Let's jump in.

Before The Bell

Markets

• Markets continue their positive start to the year. The NZX 50 moved +0.8% higher to 11,977.48, the ASX 200 gained +0.2% to 7,452.20, the S&P 500 declined -0.8% and the Nasdaq declined -1.0%. All treasury bond yields continued to increase

• Global Property Market Faces $175 Billion Debt Spiral. The slump in the world’s biggest asset class has spread from the housing market to commercial real estate, threatening to unleash waves of credit turmoil across the economy (BBG)

• The U.S. Federal Reserve will end its tightening cycle after a 25-basis-point hike at each of its next two policy meetings and then likely hold interest rates steady for at least the rest of the year, according to most economists in a Reuters poll (RT)

• Cryptocurrency lender Genesis Global Holdco LLC filed for bankruptcy, the latest firm to collapse in the aftermath of the FTX exchange’s swift downfall and last year’s rout in digital assets (BBG)

• Inflation-pinched British consumers cut spending by the most in the key shopping month of December in at least 25 years, official data showed on Friday, dashing hopes for a Christmas boost for the country's flagging retail sector (RT)

Earnings and Data

• Netflix added millions more subscribers in the fourth quarter than Wall Street expected, helping to send shares of the streamer up after the bell despite a big earnings miss (CNBC)

• Procter & Gamble Co. sold fewer household staples than expected last quarter as consumers grew more cautious about higher prices. The total volume of goods sold fell 6% in the three months ended in December, worse than the 2.6% decline that analysts had estimated (BBG)

News Summary

• The Russian Federation has just banned the outgoing NZ PM's fiance Clarke Gayford from entering Russia in response to New Zealand sanctions against the Russian Federation (Stuff)

• Prosecutors have announced that actor Alec Baldwin will be charged with involuntary manslaughter in the fatal shooting of a cinematographer who was killed on the New Mexico movie set of Rust (Herald)

• Bruised Ronaldo scores twice to edge showdown with arch-rival Lionel Messi (Stuff)

• Rugby union player Kurtley Beale arrested over alleged sexual assault at popular Bondi bar (9 News)

• The founder of streaming service Sports Flick has been arrested by NSW Police after he allegedly defrauded investors of $2.1 million in a failed bid for the Rugby League World Cup rights (9 News)

• Jamaican Olympic sprinter Usain Bolt was shocked to discover $12 million missing from an account he had with Kingston-based investment firm Stocks and Securities Ltd., according to his lawyer (BBG)

• A federal judge on Thursday imposed nearly $1 million in sanctions on former President Donald Trump and his lawyer for filing a since-dismissed “frivolous” lawsuit against Hillary Clinton and many others, which had claimed they tried to rig the 2016 presidential election in her favour by smearing Trump (CNBC)

Deal Flow

Investments / M&A

• Sun Life Financial Inc. is close to sealing an insurance partnership with Hong Kong banking group Dah Sing Financial Holdings Ltd., according to people familiar with the matter.

• Zhejiang Sanhua Intelligent Controls Co., a Chinese manufacturer of components for appliances, has selected CLSA as lead bank to arrange its global depository receipt sale in Switzerland, according to people with knowledge of the matter (BBG)

• Playtika Holding Corp, on Thursday sweetened its offer for Finnish game maker Rovio, best known for its "Angry Birds" franchise, to 683 million euros ($737.50 million USD), as a consolidation in the industry gathers pace (RT)

• Discussions about a potential sale of Global Switch Holdings Ltd. have nearly ground to a halt, people familiar with the matter said, amid tightening financing conditions and lower-than-expected bids for the London-based data center company (BBG)

• The National Basketball Association has signed a multiyear deal with consumer data firm StellarAlgo, with the league’s investment arm taking an ownership stake in the firm as it looks to grow its portfolio (BBG)

• Deutsche Lufthansa AG said it aims to buy a minority stake in ITA Airways, seeking to advance an industry consolidation that would give the German airline a stronger foothold in a major European aviation market (BBG)

VC & Fundraising

• Mike Cannon-Brookes loans Sun Cable $65m for administration. Tech billionaire Mike Cannon-Brookes’ Grok Ventures has won the first mini-battle at Sun Cable, convincing the administrators to back its interim funding proposal over the one put forward by Andrew Forrest’s Squadron Energy (AFR)

Equity Raises

• PT Bank DKI, one of Indonesia’s biggest regional development banks, is considering an initial public offering in Jakarta that could raise $150 million to $200 million (USD), according to people familiar with the matter (BBG)

Debt

• The U.S. Government hit its $31.4 trillion borrowing limit amid a spat between the Republican-controlled House of Representatives and President Joe Biden's Democrats over raising the country’s debt ceiling - a standoff that could lead to a fiscal crisis, or at worst a default within months (RT)

• Americanas SA, the Brazilian retailer backed by billionaire Jorge Paulo Lemann, filed for bankruptcy protection at a court in Rio de Janeiro citing liabilities of about 43 billion reais ($8.2 billion USD) (BBG)

Daily Picks

• Jamaican Olympic sprinter Usain Bolt was shocked to discover $12 million missing from an account he had with Kingston-based investment firm Stocks and Securities Ltd., according to his lawyer (BBG)

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