Kernel pops off

Kernel cracks $1 billion funds under management, ANZ expects interest rate cuts from February 2025, Netflix sued in US$170 mln 'Baby Reindeer' defamation lawsuit, ECB’s inflation worries have traders fearing a rate cut go-slow, and eleven agency bosses called in over Te Pāti Māori data allegations.

June 08, 2024

Good Morning,

Kernel Wealth cracks $1 billion funds under management, ANZ expects interest rate cuts from February 2025, Netflix sued in US$170 mln 'Baby Reindeer' defamation lawsuit, ECB’s inflation worries have traders fearing a rate cut go-slow, Meta's WhatsApp launches new AI tools for businesses, a Justice of the Peace laundered money for a drug ring, and eleven agency bosses called in over Te Pāti Māori data allegations.

Let's jump in.

Before The Bell

Markets

  • The Australian sharemarket capped its best week of the year so far (AFR)

  • Options traders are raising bets that Bitcoin will reach a record high by the end of the month (BBG)

  • ECB’s inflation worries have traders fearing a rate cut go-slow (AFR)

Earnings and Data

  • GameStop's shares surged more than 30% in premarket trading on Friday (RT)

News Summary

  • A Justice of the Peace laundered money for a drug ring (Herald)

  • CBL civil proceeding adjourned until 2026 (Herald)

  • ANZ expects interest rate cuts from February 2025 (RNZ)

  • National MP David MacLeod's donations referred to police (RNZ)

  • Eleven agencies called in over Te Pāti Māori allegations (Stuff)

  • At least 85,000 people each year turned away from seeing specialists (Stuff)

  • SBS Bank reports 34% jump in first home buyer loans (Stuff)

  • Kernel cracks $1 billion funds under management (NBR)

  • NZAS pays $74m into environmental account (NBR)

  • Lovisa investors remain bullish despite high-profile CEO exit (AFR)

  • Workplace dispute draws in Westpac CEO, five other senior executives (AFR)

  • Bondholders sue Switzerland in US over Credit Suisse AT1s (BBG)

  • Suzuki to stop making cars in Thailand to focus on EV shift (BBG)

  • Samsung Electronics union in South Korea stages first walkout (RT)

  • Meta's WhatsApp launches new AI tools for businesses (RT)

  • Netflix sued in US$170 mln 'Baby Reindeer' defamation lawsuit (RT)

Deal Flow

Investments / M&A

  • Mercury Energy has confirmed it is going ahead with a $486 million expansion of the Kaiwera Downs wind farm near Gore, after signing a long-term power supply agreement with New Zealand Aluminium Smelters last week (Herald)

  • Mexican-themed fast food chain Guzman y Gomez has increased its initial public offer by nearly A$100 million to $335.1 million, and its largest shareholder will sell more of its stake (AFR)

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