Sam Bribeman-Fried 💵👮‍♂️

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Admin
March 30, 2023

Good Morning,

Australian CPI came in softer than expected, Sky TV will lay off about 170 staff, John Kerin has died, apartment giant Meriton has been targeted in a cyberattack, Pope Francis is being kept in hospital for checks, Sam Bankman-Fried has been accused of bribing Chinese officials, Elon Musk is among the experts that are urging a halt to AI training & Russian spies have been more effective than the Russian army in Ukraine.

Let's jump in.

Before The Bell

Markets

  • The NZ market dropped as buyers who had been prevalent the day before disappeared (GR)

  • The ASX gained 0.2% as investors felt softer inflation might led to the RBA passing interest rate rises (AFR)

  • All three major US indexes slipped yesterday as investors weighed comments from banking regulators' Congressional testimony and continued to assess the Fed's rate hike path

Earnings and Data

  • Australian CPI came in at 6.8% YoY which was lower than the expected 7.2% and down from 7.4% (AFR)

  • Annual reports have been released by

  • Freightways announced one-off costs due to flooding and M&A activity and a potential listing on the ASX (NZX)

News Summary

  • Auckland airport sale would cost Aucklanders according to Tex Edwards (Stuff)

  • Sky TV will lay off about 170 staff (Stuff)

  • Sharesies warned the NZ government about the high risk of requiring business to keep digital copies of identity documents two years ago (Stuff)

  • Wendy Thorpe has resigned from the Tower board (NZX)

  • NZ King Salmon have started the mediation process for their deep water farm (NBR)

  • Vulnerable Australian's are having to waiting long times for elective surgery (9 News)

  • John Kerin has died (9 News)

  • Apartment giant Meriton has been targeted in a cyberattack (9 News)

  • Target have recalled some PJs due to fire risk (9 News)

  • Pope Francis is being kept in hospital for checks (BBC)

  • Adidas backs down on its request to the US trademark office to reject Black Lives Matter application for a trademark (BBC)

  • Sam Bankman-Fried has been accused of bribing Chinese officials (BBC)

  • Russian spies have been more effective than the Russian army in Ukraine (BBC)

  • Elon Musk is among the experts that are urging a halt to AI training (BBC)

  • Amsterdam have launched an ad campaign asking people to stay away (BBC)

  • Italy moves to ban lab-grown meat in a move to protect their food heritage (BBC)

  • Disney eliminates its Metaverse division (WSJ)

Deal Flow

Investments / M&A

  • A group led by Josh Harris has placed a bid for the NFL's Washington Commanders. The seller Dan Snyder is looking for bids around the $6B (USD) mark (BBG)

  • AMC's stock price rose as Amazon are looking at a potential takeover of the firm. It currently has a market value of ~$4B (USD) (BBG)

  • Kuwait Investment Authority sold a quarter of their stake in Mercedes for ~$1.4B (USD) (BBG)

  • HMC Capital has acquired hospital properties owned by US investor Medical Property Trust for $1.2B (AUD) (AFR)

  • Cardinal Health is considering a sale of its nuclear medicine business. The business could sell for more than $1B (USD) (BBG)

  • JPMorgan's equity desk crossed a $421m stake in CSL. It was 1.5m shares. It was most likely a large offshore institution selling down and it was bought about by a handful of fund managers (AFR)

  • Nestle is said to have made a $330m (USD) bid for BRF's pet food division (BBG)

  • Retailer Next has agreed to buy fashion and homeware label Cath Kidston after the chain collapsed for $10.5m (USD) (BBG)

  • Ethical Partners, a boutique fund manager, has lifted its stake in Australian Clinical Labs to 8.7% from 7.7% and given its blessing for the takeover of Healius (AFR)

  • Healius has asked the Takeovers Panel to curb hostile suitor Australian Clinical Labs. Some of the measures it asked for is for ACL to correct its "misleading" and "inadequate" hostile takeover bid and restrain ACL from contacting Healius's shareholders (AFR)

  • Bankers were searching globally for counter bidders for Liontown Resources following Albemarle's bid (AFR)

  • Ontario Teachers Pension Fund and its Australian agriculture subsidiary AustOn Corp has bought a majority stake in Australia's biggest grower of potatoes, Mitolo Family Farms (AFR)

  • Jarden have appointed to sell Metroglass's Australian Glass Group (NZX)

  • Canadian mining firm Lundin Mining Corp is considering partners for a copper deposit in Argentina. It could sell a majority stake to a senior mining company or a minority stake to a Japanese trading house (BBG)

  • Dutch chemical producer OCI will carry out a strategic review (BBG)

VC & Fundraising

  • Icehouse Ventures have launched its second growth fund. They are trying to raise $100m (NZD) (NBR)

  • Kiwi agritech company Halter has raised a $85m (NZD) Series C round. The round was led by Bessemer Venture Capital alongside existing investors DCVC, Blackbird, Peter Beck and Icehouse (NBR)

  • Melbourne-based Marketplacer is attempting to raise $20m at an undiluted valuation of $149m (AUD) (AFR)

Equity Raises

  • Saudi Arabia's First Mill is planning an IPO on the local exchange that could value the company at as much as $1B (USD) (BBG)

  • HMC Capital is raising $120m (AUD) and HealthCo is raising $325m (AUD) to fund their $1.2B acquisition (AFR)

  • Burgundy Diamond Mines have kicked off its $231m capital raise to fund its acquisition of Canada's Ekati diamond mine (AFR)

  • MoneyMe has got its $37m (AUD) underwritten deal. The raise will be at 8c a share which is 23.8% discount to last close (AFR)

  • Nasdaq gaming company Light and Wonder was chatting up Australian funds as they consider listing on the ASX (AFR)

  • Syngenta have been caught out by a surprise cancellation by the Shanghai Stock Exchange (BBG)

Daily Picks

  • Green hydrogen could be the next big thing check out the growth China could see from it here

  • Could Alibaba's breakup signal a structural change to the Chinese Tech sector. Check out Bloomberg's article here

Job Board

New Zealand

  • BDO graduate and intern roles - Apply here

  • Deloitte intern roles - Apply here

  • Deloitte graduate 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

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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