Twitter Suffers Code Leak 📱

Author

Euan Marshall
March 28, 2023

Good Morning,

First Citizens BancShares Inc has agreed to buy Silicon Valley Bank, parts of Twitter's source code have been leaked online, an emerging fungus posing a "serious global health threat" has arrived in Aotearoa, global IPO volumes are at a four-year low, and North Korea has fired yet another missile into the sea off its east coast.

Let's jump in.

Before The Bell

Markets

  • NZ and Australian markets were up slightly on the day, with the NZX climbing 0.3% to 11,612.86 and the ASX adding 0.1% to 6,962, led by the utilities and real estate sectors.

  • ANZ's CEO said on Monday the latest turmoil in the global banking system had the potential to trigger a financial crisis, though it was too early to predict it could bring one similar to that in 2008 (RT)

  • Aussie markets are keenly awaiting two pivotal pieces of economic data which could "make or break" the Reserve Bank of Australia's decision to lift rates or keep them on hold next month, as global central banks balance the need to fight inflation with preserving financial stability (AFR)

  • Banking turmoil and recession risks are spelling trouble for the global IPO market, keeping it mired in a slump even after investors started the year thinking that the worst of the stocks rout might be over (BBG)

  • An expected recovery in earnings from AGL Energy in the 2024 financial year due to predicted higher electricity prices, has led Barrenjoey to upgrade AGL shares to "outperform" (AFR)

Earnings and Data

  • South African thermal coal exporter Thungela Resources on Monday reported a 97% jump in full-year profit, boosted by record high prices of the fossil fuel (RT)

News Summary

  • Some parts of Twitter Inc's source code have been leaked and the social media platform owned by Billionaire Elon Musk is seeking information on the person responsible, a legal filing showed (RT)

  • Sports betting monopoly TAB has announced a plan to outsource its gambling operations to UK-based Entain on a 25-year contract (NBR)

  • Candida auris, an emerging fungus that poses a "serious global health threat" has arrive in Aotearoa. However, officials say there's "no elevated risk to the public" (Stuff)

  • New Zealand Green Investment Finance has announced a $50 million financing deal to pay for about another 150 zero-emissions buses and associated infrastructure (NBR)

  • New Zealand-based milk processor Synlait was forced to borrow a further $175 million in the half year to January as difficulties with a new software system from SAP delayed sales and slashed cashflows (AFR)

  • Airports and bus and train stations across Germany were at a standstill on Monday morning, disrupting millions of commuters and travellers during one of the largest walkouts in decades in Europe's largest economy (RT)

  • Australia's lower house on Monday passed an emission reduction plan with curbs on new gas and coal investments and a cap on total greenhouse gas emissions from the country's biggest polluters (AFR)

  • North Korea fired two short-range ballistic missiles into the sea off its east coast on Monday morning (RT)

Deal Flow

Investments / M&A

  • Brookfield Asset Management and GIC have signed the binding deed for their $18.7B (AUD) deal to take over Australian utility Origin Energy Ltd (BBG)

  • Cyara, the Melbourne-born tech company that holds the record for the largest venture capital raise completed by an Australian business, has acquired an Irish communications testing company, Spearline, in a deal understood to be worth upwards of $US100 million (AFR)

  • Promisia Healthcare has acquired three properties on Aldwins Road for ~$2M (NZD) to allow for growth of their Aldwins House facility (NZX)

  • First Citizens BancShares Inc said on Monday it will acquire Silicon Valley Bank's deposits and loans as well as certain other assets from the Federal Deposit Insurance Corporation (RT)

  • Khoemacau Copper Mining’s private equity owners Global Natural Resources Investments (Barclays Bank’s natural resources private equity business) and Resources Capital Fund VIII LP have hired banker to run a sales process (AFR)

  • TAB announces proposed tie-up with UK-listed Entain (NBR)

VC & Fundraising

  • Thai gold miner Kingsgate Consolidated is chasing A$46 million via Barrenjoey (AFR)

  • Cauldron, an Australian start-up that promises to let scientists create the raw ingredients needed to make new forms of food and materials, has raised $10.5m (AUD). Investors included Horizon Ventures & Main Sequence (AFR)

  • Brisbane payments start-up Paypa Plane has raised over $10m (AUD) via a Series A round. Investors included Mastercard, Cuscal, Sprint Ventures & the Queensland Business Investment Fund (AFR)

Equity Raises

  • MoneyMe is trying to raise A$30 million as a reset equity raise, which would be used to repay a $25 million short-term facility from Pacific Equity Partners (AFR)

Debt

  • Northern Star, an Australian gold miner, wants to raise $600m (USD) via unsecured notes (AFR)

Daily Picks

  • Check out this article on Kiwi space startup Dawn Aerospace to hear about their recent certification for rocket-powered flights of their Mk-II spaceplane

  • Learn more about the 'doom loop' hovering over the US banking system in this report by AFR

Job Board

New Zealand

  • BDO graduate and intern roles - Apply here

  • Bell Gully summer intern roles - Apply here

  • Buddle Findlay summer clerkships - Apply here

  • Chapman Tripp winter and summer clerkships and clerk roles - Apply here

  • Deloitte intern roles - Apply here

  • Deloitte graduate roles - Apply here

  • DLA Piper insight programme,summer clerkships and clerk roles - Apply here

  • EY graduate and intern roles - Apply here

  • Forsyth Barr associate analyst - Apply here

  • Forsyth Barr associate analyst (global equities) - Apply here

  • Grant Thornton graduate roles - Apply here

  • KPMG graduate and intern roles - Apply here

  • PWC graduate and intern roles - Apply here

  • Russell McVeagh summer clerkships - Apply here

  • Russell McVeagh clerks - 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

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