Nurses Still Waiting Eight Years Later

Good Morning,

An Auckland man accused of the fatal Boxing Day kidnapping of his long-time partner told jurors today that he had twice tried to kick her out of his car when the vehicle was stationary, Asian stocks struggled for traction, as investors weighed concerns about the health of the US economy against stronger expectations for early Federal Reserve policy easing & Nurses across Aotearoa are still waiting for what they are owed, eight years after problems with their holiday pay were found.

Let's jump in.

Before The Bell

Markets

• China’s Bright Dairy has given notice to Synlait Milk that Leon Fung will be appointed as one of Bright’s appointed directors, replacing former Finance Minister Ruth Richardson. (Herald)

• Australian shares are poised to fall after iron ore tumbled more than 4 per cent and oil dropped below $US79 a barrel after OPEC signalled its member will lift output. (AFR)

• Bond markets still expect the next move from the Reserve Bank of Australia will be to raise interest rates this year rather than cut them. (AFR)

• Asian stocks struggled for traction, as investors weighed concerns about the health of the US economy against stronger expectations for early Federal Reserve policy easing. (BBG)

News Summary

• An Auckland man accused of the fatal Boxing Day kidnapping of his long-time partner told jurors today that he had twice tried to kick her out of his car when the vehicle was stationary. (Herald)

• The Minister of Police says he’s been assured the loss of nearly 200 ‘corporate support’ roles, in addition to over 200 vacant positions from a recruitment freeze, “will not affect the frontline”. (Stuff)

• Nurses across Aotearoa are still waiting for what they are owed, eight years after problems with their holiday pay were found. (Stuff)

• The upcoming Queensland state budget will include more than $129.5 million to roll out more ambulance officers. (9 News)

• ‘Everyone is too scared to come’: Taiwan’s earthquake deals a blow to top tourism hotspot. (CNBC)

• Google cuts at least 100 jobs across fast-growing cloud unit, sources say. (CNBC)

• Claudia Sheinbaum had mere hours to enjoy the victory that will make her Mexico’s first female president before her northern neighbor reminded her how difficult the new gig will be. (BBG)

Deal Flow

Investments / M&A

• A trio of heavyweight lenders are smacking their lips at Quadrant Private Equity’s latest acquisition, the $300 million-plus commercial food business Birch & Waite. (AFR)

• Mexican-themed restaurant chain Guzman y Gomez tried to sell itself to New York-headquartered buyout giant Blackstone before deciding to proceed with a $2.2 billion float. (AFR)

VC & Fundraising

• Venture capital fund Fearless Fund cannot resume making grants to Black women-owned businesses, a divided U.S. appeals court ruled on Monday, siding with an anti-affirmative action group that sued over the program. (RT)

Equity Raises

• Ardent Health is planning an initial public offering for a second time and could seek to raise $400 million or more, according to people familiar with the matter. (BBG)

• Doctor’s Sons Turn Billionaires as Saudi IPOs Mint New Fortunes. (BBG)

• Bill Ackman’s Pershing Square aims to raise $25 billion for a new closed-end fund expected to draw interest from US retail investors, which would more than double the fee-paying assets the firm manages, according to people with direct knowledge of the plans. (BBG)

Daily Picks

• Black Caps’ T20 World Cup lineup might not have room for Rachin Ravindra. (Stuff)

• Super Rugby: How did the once-mighty Crusaders empire fall so fast. (RNZ)

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