Alan Joyce has been grilled

August 29, 2023

Good Morning,

Workplace deaths and injuries cost New Zealand $4.4B (NZD) last year, Labour promises public service cuts, Qantas CEO Alan Joyce has been grilled by senators, Chinese developer Evergrande shares have plunged 80% & Spanish prosecutors have opened preliminary inquiries into Luis Rubiales's kiss.

Let's jump in.

Before The Bell

Markets

  • The ASX rose on the back of a robust rebound in retail sales, which led to a rally in consumer discretionary stocks (AFR)

  • The NZ share market lifted on the news of budget cuts and a passive speech from the Fed governor (GR)

News Summary

  • Korean fried chicken chain NeNe Chicken plans to open its first of 18 restaurants in New Zealand next month (Stuff)

  • Workplace deaths and injuries cost New Zealand $4.4B (NZD) last year (Stuff)

  • Scott Barrett is free to play against France after he received no further sanction (Hearld)

  • The Victorian Parliamentary Inquiry into the failed Commonwealth Games is heating up (9 News)

  • Qantas CEO Alan Joyce has been grilled by senators (AFR)

  • The Taliban has stopped female Afgan students from leaving the country to study in Dubai (BBC)

  • Spanish prosecutors have opened preliminary inquiries into Luis Rubiales's kiss following the World Cup final (BBC)

  • Chinese developer Evergrande shares have plunged 80% (BBC)

Deal Flow

Investments / M&A

  • Danaher has won the race for Abcam and will acquire it for $5.7B (USD) (BBG)

  • StanChart has sold its jet finance business to Saudi Arabia’s sovereign wealth fund for $3.6B (USD) (BBG)

  • UEA-based Pure Health will buy UK-based hospital operator Centene Corp for $1.2B (USD) (BBG)

  • Bundaberg Sugar has hired two investment banks to run a buyer search. It is expected to be valued at ~$600m (AUD) (AFR)

  • Team Global Express has appointed UBS after receiving interest from overseas buyers (AFR)

  • ASX-listed can and bottle maker Orora wants to buy high-end glass maker Savergalss (AFR)

VC & Fundraising

  • Tribeca Investment Partners have raised money from a sovereign wealth fund for its new Asian Infrastructure Fund (AFR)

  • Inside Out has called in E&P Corporate Advisory to find a growth capital partner (AFR)

Equity Raises

  • WA gold explorer, Black Cat, is seeking $7m (AUD) via a share placement (AFR)

  • Masta Resources, a WA gold explorer, was trying to raise $1.5m (AUD) to fund exploration projects. The raise was being run by Wentworth Securities (AFR)

Debt

  • Chorus has teed up Citi, ANZ and Westpac to drum up interest in a seven-year medium-term note (AFR)

  • Pepper Money has mandated Commonwealth Bank, NAB, Standard Charter & Westpa ahead of a non-conforming mortgage-backed bond deal. It is trying to raise $850m (AUD) (AFR)

The Daily Deck is sponsored by Industrial Equity, LLC

Reply

or to participate.