Classic IRD asking for money

Author

Toby Brown
December 09, 2023

Good Morning,

Mortgage rates in the US fell for a sixth straight week, Yen soars, Nikkei slides as rate hikes loom over Japan, SkyCity cuts profit guidance, Wellington commuter train cancellations could be permanent, Swedish court rules against Tesla in labour dispute, Former Binance chief Changpeng Zhao has to remain in the continental United States, Simply Homes nabs US$22M, leverages AI to tackle affordable housing crisis

Let's jump in.

Before The Bell

Markets

  • NZ sharemarket closes the week flat (GR)

  • Mortgage rates in the US fell for a sixth straight week, slipping to the lowest level since August. (BBG)

  • RBA Sticks to Inflation Target in Revised Pact With Government. (BBG)

  • Yen soars, Nikkei slides as rate hikes loom over Japan (RT)

News Summary

  • FMA issues permanent stop order on David McEwen and Stockfox. (NBR)

  • The IRD calls for $2 billion of Covid business loans to be paid back. (RNZ)

  • SkyCity cuts profit guidance. (NBR)

  • Finance Minister Nicola Willis says she has already met twice with KiwiRail bosses over a "major cost blowout" in the project to replace the Interislander ferries. (RNZ)

  • Wellington commuter train cancellations could be permanent if the solution to a $120 million funding shortfall over the next three years is not found. (Stuff)

  • Traders pile into bets that Bank of Japan will end negative rate. (AFR)

  • Bond traders to face a reality check with jobs report. (AFR)

  • Swedish court rules against Tesla in labour dispute; Finnish union joins strike. (RT)

  • Former Binance chief Changpeng Zhao has to remain in the continental United States ahead of his sentencing for violating U.S. anti-money laundering laws. (RT)

  • Spotify CFO cashes in £7.2m in shares after value surges on news of job cuts. (Guardian)

  • UPS fires about 35 newly organised US workers. (RT)

Deal Flow

Investments / M&A

  • Woodside Energy and Santos’ talks on a potential A$80 billion merger started in earnest after Santos’ investor day last month, and a deal between the two listed oil and gas majors is about “5 per cent advanced”, according to sources close to the deal. (AFR)

  • Japanese venture company Shiseido snaps up stake in Bondi grooming brand Patricks (AFR)

  • Bottle maker Orora’s $2.2b French buy of Saverglass gives investors a hangover (AFR)

VC & Fundraising

  • Simply Homes nabs US$22M, leverages AI to tackle affordable housing crisis. (TC)

  • Saudi PIF Pumps More Money Into Alibaba-Backed Tech Venture (BBG)

Equity Raises

  • A Canadian investment firm who is raising $US500 million woos super funds with Ed Sheeran & Madonna (AFR)

  • 4DMedical readies $30m-plus raising to fund offshore acquisition (AFR)

Debt

  • Mercon Coffee Group, one of the world's largest coffee traders, has filed for bankruptcy protection in the U.S. due to what it defined as "exceptionally challenging operating environment." (RT)

Daily Picks

  • Hunter Biden Indicted in Tax Case as White House Woes Mount (BBG)

The Daily Deck is sponsored by Industrial Equity, LLCSat

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