Trump threatens to imprison Zuck

Trump threatens to imprison Mark Zuckerberg, Fletcher Building reaches multi-million dollar settlement over leaky pipes, UK workers to gain right to a four-day week, ANZ CEO says no evidence bond trading scandal has cost Australian taxpayers, Air New Zealand wants to explore routes to India , and hedge funds may lose billions from Temu owner PDD's stock crash.

August 31, 2024

Good Morning,

Trump threatens to imprison Mark Zuckerberg, Fletcher Building reaches multi-million dollar settlement over leaky pipes, UK workers to gain right to a four-day week, ANZ CEO says no evidence bond trading scandal has cost Australian taxpayers, Air New Zealand wants to explore routes to India , and hedge funds may lose billions from Temu owner PDD's stock crash.

Let's jump in.

Before The Bell

Markets

  • Eurozone inflation falls to 3-year low of 2.2%, backing September rate cut case (CNBC)

Earnings and Data

  • TVNZ posts $85 million loss and a $39m drop in revenue (RNZ)

  • Downer EDI shares climbed 17% to A$5.59 after the company swung to an $82 million annual profit (AFR)

  • Harvey Norman shares dropped 6.3% to A$4.58 after net profit slumped by 35% to $352.5 million for 2023-24 (AFR)

  • Nvidia shares dropped more than 6% on Thursday after its forecast fell short of lofty expectations (RT)

News Summary

  • Fletcher Building reaches multi-million dollar settlement over leaky pipes (RNZ)

  • Meridian Energy puts planned green hydrogen facility on standby (RNZ)

  • Air New Zealand wants to explore routes to India (RNZ)

  • Aotearoa New Zealand mourns Māori King Kiingi Tuheitia (RNZ)

  • Deadline extended for Stats NZ's investigation into misuse of census data claims (RNZ)

  • UK workers to gain right to a four-day week (Herald)

  • Police to phase out responding to mental health callouts from November (Stuff)

  • Trump threatens to imprison Mark Zuckerberg (CNBC)

  • ANZ CEO says no evidence bond trading scandal has cost Australian taxpayers (RT)

  • Hedge funds may lose billions from Temu owner PDD's stock crash (RT)

  • Elon Musk's X braces for shutdown in Brazil as spat with judge intensifies (RT)

  • Harris widens lead over Trump (RT)

  • Israel, Hamas set three-day pauses in fighting for Gaza polio shots (RT)

  • Ukraine F-16 crashes, pilot dies repelling Russian strike (RT)

Deal Flow

Investments / M&A

  • Woolworths Group has sold its remaining shares in ASX-listed Endeavour Group, owner of Dan Murphy’s and BWS bottle shops. The $383 million block trade was handled by Goldman Sachs (AFR)

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