Biden Pulls Out

Good Morning,

A homicide investigation has been launched around the suspected arson of Loafers Lodge, Australian worker’s wages have risen by the highest amount in 10 years, global warming is set to break the key limit of 1.5C before 2027, former French President Nicolas Sarkozy has lost an appeal against his corruption sentence & Biden and the Republicans are hopeful the US debt ceiling will be raised.

Let's jump in.

Before The Bell

Earnings and Data

• Serko reported revenue of $48m (NZD), a 154% YoY increase and 79% higher than its previous record year. It also improved its earnings and net losses by 23% and 15% (NBR)

News Summary

• A homicide investigation has been launched around the suspected arson of Loafers Lodge (Stuff)

• The NZ government has announced plans to improve competition in the building supplies industry (Stuff)

• The NZX has appointed John McMahon as their new chairman (Herald)

• The TAB is seeking Commerce Commission approval for transfer to Entain (NBR)

• The Queensland government is undergoing a cabinet reshuffle (9 News)

• Australian worker’s wages have risen by the highest amount in 10 years (9 News)

• A quad meeting between Joe Biden and the Australian, Indian and Japanese prime ministers is off after Joe Biden pulled out (9 News)

• Global warming is set to break the key limit of 1.5C before 2027 (BBC)

• Stellantis warns Brexit might force it to close its UK factories (BBC)

• Albanian prisoners are being paid by the UK government to return to Albania (BBC)

• Former French President Nicolas Sarkozy has lost an appeal against his corruption sentence (BBC)

• Ex-Apple engineer is accused of stealing self-driving car secrets (BBC)

• Biden and the Republicans are hopeful the US debt ceiling will be raised (BBC)

• Vodafone will axe over 11,000 jobs over the next three years (BBC)

Deal Flow

Investments / M&A

• European Biotech firm Argenx is a potential target for many biotechs with a price of around $23B (USD)

• ASX-listed NextDC will spend $140m (AUD) on its first data centre in New Zealand (Herald)

• Taurus Funds Management are debating exiting its 70% stake in Queensland’s Foxleight metallurgical coal mine (AFR)

• Executive search group Profusion Group has acquired trade player Kennedy Reid (AFR)

• Good Spirits have extended the deadline for its asset sale (NBR)

• Auckland Council are furthering their preparation for the sale of its stake in Auckland Airport by interviewing investment banks (Herald)

VC & Fundraising

• Tyndall AM is starting a small caps fund and wants to raise $800m (AUD) (AFR)

Equity Raises

• Galan Lithium is preparing for a $25m + (AUD) capital raise. It has broker Canaccord Genuity helping (AFR)

Debt

• Pfizer have sold $31B (USD) of bonds (BBG)

Job Board

New Zealand

• ASB rural banking graduate - Apply here

• Waterman Capital investment analyst - Apply here

Australia

• Citadel Securities graduate and intern roles - Apply here

• Goldman Sachs Investment Banking Intern - Apply here

• IMC graduate and intern roles - Apply here

• Jarden

  • Graduate role - Apply here

  • Summer internships - Apply here

• Macquarie graduate roles - Apply here

• Optiver

  • Graduate role - Apply here

  • Internships - Apply here

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