Nuclear Armageddon on the Cards

October 08, 2022

Good Morning,

ANZ has lifted home loan and saving rates in New Zealand, Powerhouse Ventures has now lodged its annual accounts with ASX, a class action claim has been made against Optus, Venture capital funding is down almost 75% YOY in Australia, the number of insolvent companies in England and Wales has hit its highest levels since 2009, Joe Biden has said the nuclear risk is at its highest since 1962, Samsung has warned of a 32% drop in profits & Credit Suisse has offered to buy $3B (USD) of its own debt.

Key US job data will now be out as well. 

Let's jump in.

Before The Bell

Markets

  • The US Markets softened ahead of the key job data that will be out now.

  • The Australian market dropped but posted its best week in two years after strong oil prices. (AFR)

  • Porsche has become the most valuable carmaker in Europe after overtaking Volkswagen. (RT)

  • Gold markets are set for their largest weekly gain since March. (BBG)

News Summary

  • ANZ has lifted home loan and saving rates in New Zealand. (Stuff)

  • Winston Peters visited Taiwan in a visit organised by the Taiwanese Government. (Herald)

  • First AML to make a minor adjustment, according to the CEO, after reports from employees that its redundancy proposal was a bloodbath. (NBR)

  • New Talisman Gold Mines have settled their dispute with their former CEO, Matthew Hill. (NBR)

  • Powerhouse Ventures has now lodged its annual accounts with ASX and is pending the explanation of its auditor's qualified opinion before the trading halt is lifted. (NBR)

  • A class action claim has been made against Optus over the data breach. (SMH)

  • Venture capital funding is down almost 75% YOY in Australia. (AFR)

  • Australian PM Anthony Albanese has backed his Treasure Jim Chalmers on an income tax cut u-turn. (AFR)

  • The UK has defied climate warnings and opened a new licensing round for oil and gas exploration. (BBC)

  • The number of insolvent companies in England and Wales has hit its highest levels since 2009. (RT)

  • Joe Biden has said the nuclear risk is at its highest since the 1962 Cuban Missile Crisis. (BBC)

  • Adidas is reviewing its Yeezy partnership after controversial fashion designs from Kayne West were seen at the Paris fashion show. (BBC)

  • Elon Musk said he plans to complete the Twitter deal by the end of the month, but Twitter won' take yes for an answer. (BBC)

  • At least 37 people are dead in an attack on a nursery in Thailand. (BBC)

  • Samsung has warned of a 32% drop in profits as demand shrinks. (BBC)

  • Malaysia has tightened its budget for 2023 and warned of an economic slowdown. (RT)

  • India has demanded almost $250m (USD) from Pernod for undervaluing imports. (RT)

  • Hackers have stolen around $100m (USD) in cryptocurrency from Binance-linked blockchain. (RT)

  • Credit Suisse has offered to buy $3B (USD) of its own debt. (BBG)

Deal Flow

Investments/ M&A

  • Telenor, a telecommunication company, has sold a 30% stake in its Norwegian fibre network to a consortium led by PE firm KKR & insurance company Oslo Pensjonsforsikring for ~$1B (USD). (BBG)

  • The owner of Parfums de Marly, a luxury scent maker, is weighing up a sale. It could be valued at more than $495m (USD). (BBG)

  • Brazilian power company Copel is set to acquire two wind farms from EDP Renovaveis Brasil in a ~$345m (USD) deal. (RT)

  • There has been more buying of ASX-listed West Africa gold play Tietto Minerals shares as Petra Capital crossed the 30.4m share mark. Fingers point to Zhaojin Mining Industry Company or Chijin International (HK) Limited. (AFR)

  • California oil producer Berry Corp is exploring strategic options that could result in a sale. (RT)

  • RattanIndia, an electrical company, will buy the remaining stake in electric motorcycle maker Revolt. (RT)

  • Activist investor fund Petrus Advisers have taken a stake in Temenos, a Swiss banking software specialist. It questioned their ability to regain investor confidence and boost the share price. (BBG)

VC & Fundraising

  • Aimer, an on-the-farm coach, developed by New Zealanders Jermey and Michelle Bryant, has received $1m (NZD) from agrifood tech accelerator and investor Sprout. (NBR)

Equity Raises

  • Alchemy Resources, a lithium and gold explorer, asked for $4m (AUD) via a share placement at a 24.2% discount. (AFR)

  • NZX-listed UK-focused coffee chain Cooks Coffee Co is set to raise $3m (NZD) through a private placement and a renounceable rights offering. This is before it becomes dual-listed as it aims to list in the UK on the Aquis Stock Exchange Growth Market this quarter. (NBR)

  • Atlas Arteria's retail shortfall will be bought by institutions. (AFR)

  • Credit Suisse is mulling outside investment for its investment bank spin-off. (BBG)

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