Wellington mayor admits to a drinking problem

November 30, 2023

Good Morning,

Wellington mayor Tory Whanau has admitted she has a drinking problem, Prime Minister Christopher Luxon has unveiled his Government’s 100-day plan, Warren Buffett’s right-hand man at Berkshire Hathaway, has died at age 99 and Policymakers and business leaders from across the globe are set to arrive in Dubai in the United Arab Emirates for the world’s biggest climate conference.

Let's jump in.

Before The Bell

Markets

  • The Reserve Bank put a big dampener on the New Zealand sharemarket with its higher for longer interest rates approach after Fisher and Paykel Healthcare lifted spirits with a pleasing half-year financial result. (Herald)

  • With no one expecting an official cash rate move, all the debate before today’s Monetary Policy Statement was about whether the Reserve Bank of New Zealand would bend its forecasts to meet the market expectation of rate cuts next year. (Herald)

  • Australian shares edged higher on Wednesday led by gains in interest rate-sensitive stocks amid further signs the Reserve Bank’s battle to tame inflation was gaining ground. (AFR)

  • Treasuries continued their November rally as expectations grew that the Federal Reserve is done with policy tightening and may start cutting interest rates next year. (BBG)

Earnings and Data

  • Shares in Temple & Webster soared more than 14 per cent on Wednesday after the online-only furniture retailer said it was bucking a difficult environment and posted a massive increase in sales for the last five months. (AFR)

News Summary

  • Wellington mayor Tory Whanau has admitted she has a drinking problem, says she is getting “professional help” and hinted that video of another incident of drunken behaviour may be circulating in the public domain. (Herald)

  • Prime Minister Christopher Luxon has unveiled his Government’s 100-day plan, as he faces pressure from Labour leader Chris Hipkins to rein in Deputy Prime Minister Winston Peters over his false claims about media. (Herald)

  • The man who used an axe to attack people at Chinese restaurants on Auckland's North Shore has been acquitted on all charges due to insanity. (Stuff)

  • Peter Dutton as immigration minister exercised a discretion allowing the plaintiff, whose case overturned indefinite immigration detention, to reapply for a visa after he was convicted of raping a 10-year-old, the government has revealed. (Guardian)

  • The 41 Indian workers rescued from a tunnel in Uttarakhand state after being trapped inside for 17 days are safe and recuperating in hospital. (BBC)

  • Billionaire Charlie Munger, the investing sage who made a fortune even before he became Warren Buffett’s right-hand man at Berkshire Hathaway, has died at age 99. (CNBC)

  • Policymakers and business leaders from across the globe are set to arrive in Dubai in the United Arab Emirates for the world’s biggest and most important annual climate conference. (CNBC)

Deal Flow

Investments / M&A

  • Iconic swimwear brand Tigerlily has plenty of US growth, buyers told. (AFR)

  • Partners Group is bringing in the big guns as the battle for Fresenius’ Cura Day Hospitals heats up. Street Talk understands the Swiss private equity firm is working with newly elected Integral Diagnostics chairman Toby Hall. (AFR)

  • Kingdom Holding Co., the investment company of Prince Alwaleed Bin Talal, has raised its stake in Citigroup Inc. to 2.2% after buying a $450 million stake from the Saudi billionaire. (BBG)

  • British investment firm Digital 9 Infrastructure (D9) (DGI9.L) initiated a strategic review of its portfolio on Monday and said it had agreed to sell its stake in data group Verne Global for $575 million as it seeks to cut debt and boost its finances. (RT)

VC & Fundraising

  • Electric vehicle outfit GoZero is close to securing a $100 million asset finance facility, while MA Moelis rounds up investors for a similarly-sized raise. (AFR)

Equity Raises

  • Partners Group is bringing in the big guns as the battle for Fresenius’ Cura Day Hospitals heats up. Street Talk understands the Swiss private equity firm is working with newly elected Integral Diagnostics chairman Toby Hall. (AFR)

  • Lineage Logistics LLC is targeting a valuation of more than $30 billion in an initial public offering, people familiar with the matter said, in what could be one of next year’s largest listings. (BBG)

Daily Picks

  • A man in Vietnam who had been suffering severe headaches for five months was left stunned after X-rays revealed he had a pair of chopsticks lodged in his skull. (Herald)

  • Live Blackcaps vs Bangladesh. (Stuff)

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