Elon Withdraws Lawsuit

The top of the North Island is in for 20 hours of rain and thunderstorms as tropically-fuelled disturbance sparks days of unsettled weather, A man who's spent more than three decades in prison for the rape and murder of a 13-year-old girl has been told to prepare for a shock when he's finally released & Elon Musk has unexpectedly asked a California court to withdraw a legal case against OpenAI and its boss Sam Altman, which accused them of abandoning the firm's founding mission of developing artificial intelligence (AI) for humanity's benefit.

June 13, 2024

Good Morning,

The top of the North Island is in for 20 hours of rain and thunderstorms as tropically-fuelled disturbance sparks days of unsettled weather, A man who's spent more than three decades in prison for the rape and murder of a 13-year-old girl has been told to prepare for a shock when he's finally released & Elon Musk has unexpectedly asked a California court to withdraw a legal case against OpenAI and its boss Sam Altman, which accused them of abandoning the firm's founding mission of developing artificial intelligence (AI) for humanity's benefit.

Let's jump in.

Before The Bell

Markets

  • The Australian sharemarket recorded losses in the late afternoon amid a broad sell-off with investors on edge ahead of tomorrow’s key US Federal Reserve interest rate decision. (AFR)

  • Asian stocks declined, shrugging off Wall Street’s gains, as the double-whammy of an upcoming US inflation report and the Federal Reserve decision kept traders on edge. (BBG)

News Summary

  • The top of the North Island is in for 20 hours of rain and thunderstorms as tropically-fuelled disturbance sparks days of unsettled weather. (Herald)

  • A man who's spent more than three decades in prison for the rape and murder of a 13-year-old girl has been told to prepare for a shock when he's finally released. (RNZ)

  • MPs' perks are back in the spotlight after a series of stories from The Post drawing attention to Parliament's housing allowance system. (RNZ)

  • Almost eight out of every 10 Australians surveyed are hoping to change jobs in the next year in a bid to increase their salary and alleviate cost-of-living pressures. (9 News)

  • Elon Musk has unexpectedly asked a California court to withdraw a legal case against OpenAI and its boss Sam Altman, which accused them of abandoning the firm's founding mission of developing artificial intelligence (AI) for humanity's benefit. (BBC)

  • The US has lifted its long-standing ban on weapons supplies and training to Ukraine's Azov brigade, whose origins were mired in controversy over alleged links to far-right groups. (BBC)

  • Hamas on Wednesday said its "positive" response to a U.S. ceasefire plan for the eight-month-old war in the Gaza Strip opened a "wide pathway" to reach an agreement, but the outlook was uncertain as neither the Palestinian group nor Israel publicly committed to a deal. (RT)

Deal Flow

Investments / M&A

  • Private capital kicks tyres at Envirosuite; watching brief on Potentia. (AFR)

  • National Bank of Canada agreed to buy Canadian Western Bank for about C$5 billion ($3.6 billion) in stock in a tie-up of two of the country’s regional lenders. (BBG)

VC & Fundraising

  • The market-research startup AlphaSense was valued at $4 billion as part of a recent fundraising round that will help it pay for a $930 million takeover of the data provider Tegus. (BBG)

  • France's Mistral AI has raised 600 million euros ($643.7 million) in a funding round led by existing investor General Catalyst, it said on Tuesday, as AI continues to draw the bulk of technology-focused venture capital funds. (RT)

Equity Raises

  • Market turns bearish on Guzman y Gomez as blockbuster IPO looms. (AFR)

  • Canva’s IPO pitch lands just as markets are warming up. (AFR)

Daily Picks

  • America’s Cup hosting: The true cost to New Zealand revealed - Paul Lewis. (Herald)

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