MP's potentially up for a payrise

Good Morning,

TVNZ confirms a range of job cuts and the end of several shows, including Fair Go after 47 years, the potential for backlash if MPs are given a payrise in the next two weeks, at the same time the Government is cutting public spending, the world’s biggest economies have continued to finance the expansion of fossil fuels in poor countries to the tune of billions of dollars and MetService has placed the West Coast under an orange heavy rain warning until Thursday night with up to 800 millimetres expected to accumulate in places.

Let's jump in.

Before The Bell

Markets

• The U.S. Federal Reserve is determined not to reduce interest rates too soon — and some economists say recent data has pushed a summer cut completely off the table. (CNBC)

• Talk of the euro touching parity with the dollar is returning as policymakers at the European Central Bank look primed to deliver more interest-rate cuts this year than their US peers. (BBG)

Earnings and Data

• HSBC Holdings Plc agreed to sell its business in Argentina and will book a hit of $1 billion from the disposal to its pre-tax earnings in the first quarter. (BBG)

News Summary

• Media and Communications Minister Melissa Lee says she’s “not a magician” as TVNZ confirms a range of job cuts and the end of several shows, including Fair Go after 47 years. (Herald)

• Prime Minister’s Office releases documents which led to stripping of disgraced arts patron’s knighthood. (Herald)

• The potential for backlash if MPs are given a payrise in the next two weeks, at the same time the Government is cutting public spending and as many households struggle with economic hardship, is not lost on Finance Minister Nicola Willis. (Stuff)

• A man has died while attempting to complete the Tongariro Alpine Crossing on Tuesday. (Stuff)

• MetService has placed the West Coast under an orange heavy rain warning until Thursday night with up to 800 millimetres expected to accumulate in places. (RNZ)

• The world’s biggest economies have continued to finance the expansion of fossil fuels in poor countries to the tune of billions of dollars, despite their commitments on the climate. (Guardian)

• Supermarket giant Woolworths has called for the expansion of the under-review Food and Grocery Code of Conduct to include international retailers like Amazon and Costco. (9 News)

• Millions of people across Mexico, the US and Canada looked to the skies on Monday to witness a total solar eclipse carve a narrow path of darkness across the continent. (BBC)

Deal Flow

Investments / M&A

• Dual-listed breast cancer detection medtech Volpara Health Technologies is set to fall into the hands of its South Korean suitor. (AFR)

• Mercury Capital is in dealmaking mode. Street Talk understands Clark Perkins’ private equity shop has inked two acquisitions this month, closing out its pursuit of KKR-backed accounting and advisory firm Findex Group and professional services firm Fyfe. (AFR)

• Street Talk can reveal Advent dealmakers Robert Radcliffe-Smith and Rob Hooke have tapped RBC Capital Markets to run a strategic review at Compass Education, as the private equity firm ticks past five years on the register. (AFR)

• Warner Bros Discovery Inc. is selling the podcast business associated with its Rooster Teeth brand to Night, the talent-management firm behind popular online creators like MrBeast and Kai Cenat. (BBG)

Equity Raises

• Anteris Technologies, the heart medtech backed by L1 Capital and First Sentier, had its broker Evolution Capital warming up fund managers for a cash call on Tuesday morning. (AFR)

• Ibotta Inc., a digital marketing software firm that counts Walmart Inc. as a backer, and shareholders are seeking to raise as much as $472.5 million in an initial public offering. (BBG)

Debt

• Warren Buffett’s Berkshire Hathaway Inc. is planning to sell yen bonds in the global markets, fueling speculation that the billionaire is weighing more investments in Japan. (BBG)

• QIC’s Pac Energy lines up $1.2b debt facility for microgrids push. (AFR)

Daily Picks

• After walking that path in the mixed martial arts world, City Kickboxing head coach Eugene Bareman is opening his doors to show some hopeful prospects a glimpse of the map. (Herald)

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