Baltimore Bridge Collapses After Ship Collision

Good Morning,

The US government has released images of seven alleged Chinese hackers wanted on charges of infiltrating the communications of targets in Britain and America over a 14-year period, Destiny Church members have painted over Gisborne’s rainbow crossing in the city centre because the mayor refused to put a stop to a planned drag queen event, and NZ Post confirms it will merge mail and parcel deliveries. It needs to create a single delivery network to remain commercially viable as mail volumes plunge, the state-owned carrier says. But union members describe it as ‘a race to the bottom’.

Let's jump in.

Before The Bell

Markets

• Australia’s sharemarket looks the most stretched in three years and the most at risk of a pullback should skittish investors start to take some money off the table, according to Citi. (AFR)

• The S&P/ASX 200 ended the day down 31.7 points, or 0.4 per cent, at 7780.2. The All Ordinaries fell by a similar margin. The losses followed comparable overnight dips in New York where the Dow, Nasdaq and S&P 500 all ended Monday’s session about 0.3 per cent lower. (AFR)

• Bitcoin enthusiasts appear to be shrugging off last week’s outflows from US exchange-traded funds, with the largest cryptocurrency briefly climbing back above $US70,000 again. (AFR)

Earnings and Data

• Hurunui ratepayers face a hefty 12.37% rates rise on average as the council invests in roading, stormwater and drainage, and Hanmer Springs. (Stuff)

News Summary

• Police have arrested a second man in relation to the Gisborne double-homicide at the weekend. (Stuff)

• The country’s spy chiefs have both raised concerns about China, in a rare move to name a nation and publicly accuse it of acting against New Zealand’s interests. (Stuff)

• Destiny Church members have painted over Gisborne’s rainbow crossing in the city centre because the mayor refused to put a stop to a planned drag queen event. (Stuff)

• Earthquakes with up to 10 minutes of shaking are being recorded on Ruapehu as often as six times a day, in what scientists say is a new development for the volcano. (Stuff)

• Police are investigating after a social media report that a man driving a people mover van tried to pull a young woman into his car. (Stuff)

• Westerly gales are set to strike southern and central New Zealand while heavy rain pelts Westland on Tuesday night. (Stuff)

• NZ Post confirms it will merge mail and parcel deliveries. It needs to create a single delivery network to remain commercially viable as mail volumes plunge, the state-owned carrier says. But union members describe it as ‘a race to the bottom’. (NBR)

• A major bridge in Baltimore snapped and collapsed after a container ship rammed into it on Tuesday, and several vehicles fell into the river below. Rescuers were searching for at least seven people in the water. (AFR)

Deal Flow

Investments / M&A

• Houlihan Lokey restructuring whiz Jim McKnight is expected to be appointed by lenders staring down a contentious restructure at Brookfield’s private hospitals group Healthscope, Street Talk understands. (AFR)

• There’s a new face at Global Alternative Funds’ Sydney offices. Street Talk understands the private equity fundraising shop has added Oak Hill Advisors managing director Signe Brandt to its operation. (AFR)

VC & Fundraising

• When you go to raise NZ$4m and end up with US$4m. Sustainable concrete startup Neocrete has closed a seed round led by Singapore VC firm Wavemaker Partners that will help fund commercial production. (NBR)

• TradeWindow to raise $2.2m, narrows revenue guidance. The trade software business also says it plans to breakeven in FY25. (NBR)

• Blood products giant CSL is continuing its tradition of issuing ultra-long bonds, gearing up to print a pair of 10-year and 30-year US dollar senior unsecured bonds. (AFR)

• Gold and copper explorer FireFly Metals was fronting investors with a $52 million equity raise on Tuesday morning. (AFR)

• A burst of small-cap companies chasing fresh equity has nudged Shaw and Partners to add another director to its equity capital markets team. (AFR)

• Canva, valued at about $40.5 billion, has acquired a British graphic design software business, Street Talk understands. (AFR)

Daily Picks

• The US government has released images of seven alleged Chinese hackers wanted on charges of infiltrating the communications of targets in Britain and America over a 14-year period. (Stuff)

The Daily Deck is sponsored by Industrial Equity, LLC