Bankman-Fried Off To The Slammer

December 14, 2022

Good Morning,

FTX founder Sam Bankman-Fried has been arrested in The Bahamas on 'financial offences' charges, Six people have died after a shooting at a remote Queensland property, Chinese and Indian troops have clashed at the Arunachal Pradesh mountain border, Autoparts startup Partly raises NZD$37 million, Goldman Sachs to cut hundreds more jobs and Jacinda Ardern has apologised after calling Act Party leader David Seymour an 'arrogant prick'. 

Let's jump in.

Before The Bell

Markets

  • Equities rallied as investors expect US CPI to come in slightly cooler on previous months

News Summary

  • Sam Bankman-Fried, the founder of defunct cryptocurrency firm FTX, has been arrested in The Bahama's on 'financial offences' charges at the request of the US Government (BBG)

  • Goldman Sachs is cutting hundreds more jobs as their consumer unit shrinks (BBG)

  • European Parliament offices have been searched in a probe into alleged bribes from Qatar (BBC)

  • Embattled lender Moola has estimated a shortfall of NZD$9.4 million with a loan book sale underway (NBR)

  • Pacific Edge's shares were up after new clinical evidence shows significant improvements in its Cxbladder tests (NBR)

  • Former Australian Prime Minister, Scott Morrison, wanted a to set up a secret ministry so that he could have the final say on foreign investment proposals (AFR)

Deal Flow

Investments/ M&A

  • Woolworths has sold its $636 million stake in Endeavour Group via trade through investment bank UBS (AFR)

VC & Fundraising

  • Auto parts startup, Partly, has closed the largest Series A raise in New Zealand history (Herald)

Equity Raises

  • Zip Co launched a snap AUD$ 12 million share placement to help redeem some of its convertible notes early (AFR)

  • Queensland copper and gold explorer SQX Resources launches IPO (AFR)

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