You Can Bank on Bumper Profits

October 28, 2022

Good Morning,

ANZ posts record profit, Auckland Mayor Wayne Brown, announces deputy mayor appointment, Samsung appoints convicted heir to top job, UK Prime Minister Rishi Sunak delays announces economic plan, Auditors facing disciplinary action to keep name secret, Phil Goff named new UK High Commissioner, UK Treasury may save £15 billion by delaying fiscal settlement, Tottenham denied win by wrong VAR call in the Champions League and Roger Tuivasa-Sheck to make his full debut against Japan.

Let's jump in.

Before The Bell

Markets

  • US stocks slipped as traders assess earnings and English Central Bank decision.

Earnings

  • ANZ Bank posted a record full year profit that rose 20% year on year after strong economic activity.

  • Meta's shares plunged after they issued a weak forecast for the fourth quarter.

News Summary

  • ANZ Bank's net statutory profit increased to $2.3 billion NZD (NBR)

  • Auditors facing disciplinary action to keep name secret (NBR)

  • Fletcher Building boss views rail as a 'needed solution' (NBR)

  • New Zealanders deliberately underinsuring homes (NBR)

  • Rishi Sunak delays announces the UK's economic plan to give himself more time (BBG)

  • Xi Jinping says China can work with the US before possible Biden meeting (BBG)

  • Elon Musk visits Twitter HQ ahead of his acquisition of the company (BBG)

  • Samsung appoints convicted heir to top job (BBC)

  • Australian Parliament rape trail abandoned due to jury contamination (BBC)

  • ANZ are probing for mortgage stress (AFR)

  • Medibank hack breaches government defences with public hospitals hit (AFR)

Deal Flow

Investments/ M&A

  • Apollo and Pimco in talks to buy Credit Suisse's SPG assets (BBG)

  • Dabur India to buy minority stake in spice-maker Badshah Masala (BBG)

  • ESPN sells majority stake in X Games to investor group that includes Tony Hawk (BBG)

  • Ford sells stake in Russian business (BBG) CVC said to mull cutting contribution to JIP-led Toshiba bid (BBG)

  • TotalEnergies buys $580 USD million stake in Brazil Wind and Solar (BBG)

  • Hamburg Port to sell stake to China's Cosco (BBG)

  • Macquarie Group’s expected to hit reverse on a $NZ220 million long-term deal to own and operate the car parks at SkyCity Entertainment Group’s flagship casino in Auckland (AFR)

VC & Fundraising

  • Bay of Plenty based medicinal cannabis firm Eqalis raises $6 million NZD (NBR)

Equity Raises

  • Mobileye gains 38% in years best IPO debut (BBG)

  • Credit Suisse to raise $4 billion USD to fund sweeping overhaul (BBG)

  • Eureka chases a $28 million AUD equity raising (AFR)

Debt Raises

  • SoftBank backed business View raises $200 million in convertible notes (BBG)

  • ANZ seeking buyers for new bond deal (AFR)

Love our newsletter? Please share it with your friends, family, colleagues or anyone who needs to stay on top of the market.

Also, if you have any feedback or questions, don't hesitate to hit us up via email or Instagram.

Reply

or to participate.