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3D Printed Buildings to Become the Norm? đ¨
Good Morning,
NZ Teachers to vote on industrial action with a possible strike in two weeks, New childcare centre is the first 3D concrete printed commercial building in the Southern Hemisphere, ChatGPT being used by cybercriminals to generate scams, Norton warns, Elon Musk vows to take on petrol rivals with Teslaâs cheapest car, shares fall.
Let's jump in.
Before The Bell
Markets
Markets were mostly up on the day. The NZX 50 declined -0.3% down to 11,868.79, the ASX 200 gained +0.4% to 7,283.60, the S&P 500 increased +0.8% to 3,981.35 and the Nasdaq gained +1.1%. All treasury bond yields increased
All it took was a bit of a hint that the Federal Reserve may stick to its moderate monetary tightening path for the market to attempt a risk-on rally to end the week. Futures indicate that the buoyant mood is set to continue in Europe, with the continent-wide STOXX 600 looking to end yet another week with gains. The index has so far this year registered just three weeks of losses (RT)
European shares rose on Friday along with global stocks as investors took comfort in underlying economic strength and started March on a high note. Bonds halted declines (BBG)
Bitcoin dropped to the lowest level in about two weeks, part of a wider retreat in crypto markets as investors digested the unravelling of a key industry payments network (AFR)
Earnings and Data
Tesla sold 74,402 China-made electric vehicles (EV) in February, up 31.65% from a year earlier, China Passenger Car Association (CPCA) data showed on Friday (RT)
Rocket Lab has posted 239% year-on-year revenue growth for the 12 months to the end of December having undertaken nine Electron launches during the period, but we may have seen the last of helicopters catching rocket components in mid-air (NBR)
News Summary
Teachers have âoverwhelminglyâ rejected their latest pay offer and will now vote on industrial action, with a possible strike in two weeks (Stuff)
Richie Mo'unga leads Crusaders to victory despite absence of Razor. Even with coach Scott Robertson back in Christchurch, due to a family bereavement, the Crusaders had too much class and authority when they thumped the Highlanders 52-15 in Melbourne on Friday night (Stuff)
New childcare centre is the first 3D concrete printed commercial building in the Southern Hemisphere (Stuff)
Tesla plans to sell a cheaper vehicle that will dramatically increase the number of buyers able to afford an electric car, the company said on Wednesday night (Thursday night NZ time) (Herald)
Cybercriminals are using artificial intelligence chatbot ChatGPT to quickly create emails or social media posts to lure the public into scams, an anti-virus software provider is warning (Herald)
South Carolina lawyer Alex Murdaugh found guilty of murdering wife and son (BBG)
âBregretâ? Many Brits are suffering from Brexit regret (CNBC)
Biden to meet with EUâs von der Leyen; U.S. says China has not given Russia weapon (CNBC)
Indiaâs supreme court has set up an independent panel to investigate if there were regulatory failures related to allegations against the Adani Group (CNBC)
Deal Flow
Investments / M&A
Adani shares surged on Friday after a $1.87 billion USD investment in the group by GQG Partners Inc eased concerns about the group's ability to attract funding, while the conglomerate lined up more road shows to shore up investor confidence (RT)
Canada's MineHub Technologies Inc, which has digitised trade finance and logistics in metals and mining, agreed to buy rival Waybridge for $2.5 million USD in MineHub shares, the firms said on Thursday (RT)
Australian investment bank Macquarie Group Ltd is at the early stages of exploring a takeover bid of over 5 billion pounds ($6.00 billion) for British money manager M&G, Sky News reported on Wednesday citing sources (RT)
Stellantis NV agreed to sell its distribution business in Turkey to its local partner for âŹ400 million euros ($425 million USD) to help bundle vehicle sales and services in the country (BBG)
NZX-listed Allied Farmers will pay $8.3 million to buy out the other shareholders of NZ Rural Land Management and take full control over the running investment company NZ Rural Land Co. (NBR)
Equity Raises
Abu Dhabiâs main energy company raised $2.5 billion from the initial public offering of its gas business, pulling off the yearâs biggest listing and continuing a trend that saw the Middle East emerge as a bright spot for share sales in 2022 (BBG)
Daily Picks
Remarkable dead heat for ManawatĹŤ-Whanganui twins in NZ under-20 women's 100m final (Stuff)
Hong Kong will begin giving away 500,000 airline tickets from Wednesday in a bid to attract visitors and boost its flagging economy, just as it finally drops its compulsory mask-wearing rule (BBG)
Job Board
New Zealand
Craigs Investment Partners Investment Banking Intern
To apply, please send an email including a cover letter, your CV and your academic transcript as attachments to [email protected] by 12pm on Friday, 3rd March 2023
Forsyth Barr Investment Banking Summer Internship. To apply, please email a cover letter, your CV and your university transcript by 12pm, Friday 3rd March 2023, to: [email protected](please ensure that the subject line reads âInvestment Banking Internshipâ)
Goldman Sachs Investment Banking Intern
Apply here by 4th March
Jarden Investment Banking Intern and Grad Role
Apply here
Macquarie Intern role
Apply here
Murray & Co Investment Banking Intern and Grad Roles
UBS Investment Banking Intern
Apply here
Australia
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