Twitter Changes Logo to 'X'

Author

Jay Geris
July 25, 2023

Good Morning,

Twitter changes logo to ‘X’, replacing blue bird symbol, AI launched to help tenants, landlords understand rights, Westpac, several smaller banks lift home loan rates - again, OpenAI's Sam Altman launches Worldcoin crypto project, and Tourists flown home as wildfires rage on Greek islands.

Let's jump in.

Before The Bell

Markets

  • Markets were mostly down the past day. The NZX 50 gained +0.7%, to 12,018.23 the ASX 200 decreased -0.1% to 7,306.40, the S&P 500 gained ever so slightly to 4,536.34 and the Nasdaq decreased -0.2%. All treasury bond yields decreased.

  • Central banks to dominate with decisions looming in the US, Europe and Japan (Stuff)

  • New Zealand achieved a wafer-thin trade surplus in June, mainly due to a drop in the volume and value of imported petrol and diesel (Stuff)

  • European bonds gained and the euro plunged versus the dollar after a sharp decline in manufacturing and services gauges from the common-currency region fanned concerns about the faltering global economy (BBG)

Earnings and Data

  • Britain's private sector is growing at its weakest pace in six months in July as orders for businesses stagnate in the face of rising interest rates and still-high inflation (RT)

News Summary

  • Elon Musk is planning to replace Twitter’s famous bird logo with an ‘X’, marking what would be the latest big change since he bought the social media platform for USD$44 billion last year (Stuff)

  • A new artificial intelligence-enabled chatbot has launched in New Zealand to help renters and landlords understand tenancy law (Stuff)

  • Westpac has increased some of its short-term home loan rates - the second time it’s done so in the past two months (Herald)

  • Kiwi swimmer Erika Fairweather blows her cover with world championship bronze medal in sub-four minutes (Stuff)

  • Wesfarmers’ Target is being folded into its discount stablemate Kmart, creating a singular AUD$10 billion business with the aim of boosting returns as value offerings become more desirable to shoppers battling the rising cost of living (AFR)

  • The duelling cinema debuts of Barbie and Oppenheimer – an event that’s taken on the moniker ”Barbenheimer” – led the Australian box office to its biggest Saturday and Sunday takings yet recorded (AFR)

  • The United Nations Command has started talks with North Korea’s military on the status of a US solider who crossed the border last week. (BBG)

  • A late swing toward Prime Minister Pedro Sanchez’s Socialists denied his right-wing opponents a majority in parliament but leaves Spain facing months of instability without a fully functioning government (BBG)

  • Ryanair Holdings Plc lowered its full-year traffic prediction and said it may need to cut ticket prices to fill seats this winter as passengers become more cost-sensitive (BBG)

  • Russia accused Kyiv of "terrorism" saying that two Ukrainian drones had damaged buildings in Moscow, including one close to the Defence Ministry's headquarters on Monday, a day after Ukraine promised payback for Russian strikes on Odesa (RT)

  • OpenAI's Sam Altman launches Worldcoin crypto project (RT)

  • Tour operators began flying home holidaymakers as wildfires raged on the Greek island of Rhodes on Monday and officials said the threat of further fires was high in almost every region of the country (RT)

  • China is ramping up measures aimed at boosting its economy ahead of a key Politburo meeting this week which will review the country’s first-half economic performance (CNBC)

  • China will reinstate its 15-day visa-free entry for citizens of Singapore and Brunei from July 26, according to the embassies of both countries (CNBC)

Deal Flow

Investments / M&A

  • IAG SA, the parent company of British Airways, is buying a stake in a UK firm that’s planning to start production of sustainable aviation fuel by 2025 (BBG)

  • Safran SA agreed to buy an aerospace business from Raytheon Technologies Corp. in cash for an enterprise value of USD$1.8 billion, adding flight-control and actuation activities alongside 3,700 employees (BBG)

  • Bain Capital has agreed to buy the 90% stake Gautam Adani’s family holds in an Indian shadow bank, allowing the embattled billionaire to pare down his non-core businesses (BBG)

  • Indian auto parts maker Samvardhana Motherson International (SMIL) said on Monday it made a second acquisition this month, buying Germany's Dr. Schneider Group for 118.3 million euros (USD$131.6 million) (RT)

VC & Fundraising

  • Oneview Healthcare, 30.7 per cent owned by Caledonia fund manager Will Vicars, had two brokers drumming up interest in an AUD$22 million equity raising (AFR)

  • Dalian Wanda Group Co. is selling a stake in one of its entertainment units for 2.26 billion yuan (USD$314 million), raising odds the Chinese conglomerate will avert a default on a maturing dollar bond (BBG)

Equity Raises

  • Busy For You, a Chinese snack shop chain, is considering an initial public offering that could raise USD$100 million to USD$200 million (BBG)

Daily Picks

  • A damming air quality report has revealed heavy industry is killing at least 13 people every year in Mount Maunganui (1 News)

  • Brad Olsen the 26-year-old who has become the face of economics in New Zealand (Herald)

Job Board

New Zealand

  • ASB rural banking graduate - Apply here

  • Waterman Capital investment analyst - Apply here

Australia

  • Citadel Securities graduate and intern roles - Apply here

  • Goldman Sachs Investment Banking Intern - Apply here

  • IMC graduate and intern roles - Apply here

  • Jarden

    • Graduate role - Apply here

    • Summer internships - Apply here

  • Macquarie graduate roles - Apply here

  • Optiver

    • Graduate role - Apply here

    • Internships - Apply here

The Daily Deck is sponsored by Industrial Equity, LLC

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