TVNZ ends Fair Go, Sunday and two news bulletins

Good Morning,

TVNZ is shutting down Sunday, Fair Go, 1News at Midday and two news bulletins, CA ANZ calls for mandatory pay gap reporting in NZ, a man was arrested after crypto robberies in Wellington New World car parks, MPs urged to lower the proposed road user charge for EVs, Fletcher enters mediation over burst pipe debacle in Western Australia, and the US House will vote next week on a TikTok crackdown bill.

Let's jump in.

Before The Bell

Markets

• The New Zealand sharemarket ended the week with a 1 per cent surge, fuelled by banking and building materials takeover activity in Australia and the bull market on Wall Street. (GR)

• Shares set another record high this week and inched closer to 8000 points as investors piled into the big banks and technology stocks on bets that interest rate cuts in the second half of 2024 will bolster corporate profits. (AFR)

• US consumer borrowing in January exceeded forecast as non-revolving credit climbed the most in seven months. (BBG)

Earnings and Data

• Broadcom said it expects US$10 billion in revenue from chips related to artificial intelligence this year, but its stock dipped 6 per cent after its full-year forecast failed to impress investors.

News Summary

• Man arrested after crypto robberies in Wellington New World car parks. (Herald)

• Shareholders' Association weighs in on PGG Wrightson boardroom battle. (RNZ)

• Women lag behind men in residential property investments - CoreLogic. (RNZ)

• Nearly half a billion taxpayer dollars set aside to decommission Tui Oil Field. (RNZ)

• The NZ Insurance Council has been meeting in Auckland this week to discuss the challenges and risks around climate change. (RNZ)

• TVNZ is shutting down Sunday, Fair Go, 1News at Midday and two news bulletins. (RNZ)

• MPs urged to lower the proposed road user charge for EVs. (NBR)

• CA ANZ calls for mandatory pay gap reporting in NZ. (NBR)

• Auckland Transport won’t fund sea barge study due to ‘constrained’ finances. (NBR)

• Fletcher enters mediation over burst pipe debacle in Western Australia. (NBR)

• Another $12b debt blowout in Victoria sets scene for horror budget. (AFR)

• SingTel, the parent company of telco giant Optus has lost its bid to get almost A$895 million deducted from its taxable income in Australia. (AFR)

• Westpac ditches PwC for KPMG. (AFR)

• Huawei chip breakthrough used tech from two US gear suppliers. (BBG)

• JPMorgan says China remains ‘irreplaceable’. (BBG)

• Taylor Swift tour prompts economists to upgrade Singapore GDP forecast. (BBG)

• Biden takes on Trump and Republicans in fiery State of the Union speech. (RT)

• Israel destroying Gaza's food system in 'starvation' tactic, UN expert says. (RT)

• US House to vote next week on TikTok crackdown bill. (RT)

• Inflows into bullish Nvidia ETF hit record on AI frenzy. (RT)

Deal Flow

Investments / M&A

• ASX-listed Inghams Group has said it intends to acquire 100 per cent of the Bostock Brothers organic chicken business for NZ$35.3 million. (NBR)

Daily Picks

• Ariana Grande: Eternal Sunshine review – perceptive post-divorce album is nearly spotless. (Guardian)

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