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Classic IRD asking for money
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
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
Equity Raises
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)
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