Autopilot Sent Interislander Aground

Good Morning,

A leaked document from Interislander says its ferry Aratere ran aground after the crew pressed a wrong button, engaged the autopilot and sent the ship off course, A New Zealander at Cambridge University, Dani Clode has built a prosthetic you can wear on your hand - strapping in opposite your thumb, which connects to controls at the feet and Ex-Morgan Stanley Banker’s Fund Raises $3.4 Billion, Beating Asia Rivals.

Let's jump in.

Before The Bell

Markets

• Macquarie says it’s time for investors to start buying up real estate investment trusts and other companies that are less linked to the economy after warning that returns in some parts of the sharemarket are starting to falter. (AFR)

• Aussie ETFs top $200b as investors flood back to stocks (AFR)

News Summary

• A leaked document from Interislander says its ferry Aratere ran aground after the crew pressed a wrong button, engaged the autopilot and sent the ship off course. (Herald)

• Ex-Green MP Darleen Tana claims leaks of the report detailing the investigation of migrant exploitation allegations against her were intended to “pressure” her. (Herald)

• Man repeatedly slashed ex-wife’s throat at Auckland McDonald’s after divorce dispute (Stuff)

• The mass exodus of New Zealanders is likely to continue until interest rates drop, a recruiter says. (RNZ)

• A New Zealander at Cambridge University, Dani Clode has built a prosthetic you can wear on your hand - strapping in opposite your thumb, which connects to controls at the feet. (RNZ)

• Wellington primary school's Taylor Swift raffle nets more than $100,000k (RNZ)

• Medical experts in Japan are to add a “most severe” category to the current heatstroke index, amid warnings that the extreme heat is straining medical services and causing damage to public health comparable to that in a “natural disaster”. (Guardian)

• Blackpink star Jennie has apologised after a video that showed her vaping indoors sparked a huge outcry in South Korea. (BBC)

• Instead of that famous view looking up at the Buckingham Palace balcony, visitors for the first time will be able to look down from the inside. (BBC)

• China is leading on GenAI experimentation, but lags U.S. in implementation, survey shows (CNBC)

Deal Flow

Investments / M&A

• Incitec Pivot’s inability to separate its fertiliser and explosives companies would be laughable if it wasn’t for the company’s 47,215 shareholders. (AFR)

• Fluent Commerce, an order management software business spun out of Parcelpoint 11 years ago, would like to snag a private equity or strategic suitor from the United States. (AFR)

• It’s been a rollercoaster ride for investors in ASX-listed software company Bigtincan – and one that has some spewing over the side. (AFR)

VC & Fundraising

• Ex-Morgan Stanley Banker’s Fund Raises $3.4 Billion, Beating Asia Rivals (BBG)

Equity Raises

• Retail investors are expected to keep piling into initial public offerings in India this year, as hefty gains for new stocks outpace the broader market and listings abroad. (BBG)

Debt

• When Italy’s government extended guarantees on state-backed loans during and after the pandemic, little thought was given to potential delinquencies. Now that’s coming back to bite. (BBG)

Daily Picks

• The debate about what we wear for a swim has resurfaced. Is it all just a bit of fuss about togs, or something more significant? (Herald)

• An Australian technology company says it is “deeply concerned” after a recalled power bank exploded at an Auckland business, causing damage to property and singeing a woman’s hair. (Herald)

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