Winston Takes Aim at Pāti Māori

Good Morning,

Deputy Prime Minister Winston Peters has taken aim at Te Pāti Māori, calling them “radical extremists” and accusing them stoking racial division, Three Air New Zealand regional aircraft were struck by lightning earlier today and are being reviewed by engineering teams to ensure they are safe to fly, the airline says & Lotto Powerball: $33 million prize not struck, rolls over to Saturday.

Let's jump in.

Before The Bell

Markets

• Inflation has risen to its highest level in five months, likely pushing back any chance of an interest rate cut and possibly even opening up the potential for another rates increase. (9 News)

• China’s new third semiconductor fund will focus on advanced chips for AI and establishing the entire supply chain, said Winston Ma, adjunct professor at NYU School of Law. (CNBC)

• PDD’s value-for-money positioning and growth of its Temu marketplace has helped the company lead China’s e-commerce arena, analysts said, making it the country’s most valuable company in the segment. (CNBC)

News Summary

• Deputy Prime Minister Winston Peters has taken aim at Te Pāti Māori, calling them “radical extremists” and accusing them stoking racial division. (Herald)

• A severe thunderstorm warning has been lifted for parts of Auckland and the Hauraki Gulf this evening, but forecasters warn the worst of the wild weather to strike the city is yet to come. (Herald)

• A witness in the trial of a man accused of murdering his girlfriend by setting their bedroom on fire has recalled seeing him distraught on the road as emergency workers tried to get the blaze under control. (Stuff)

• Three Air New Zealand regional aircraft were struck by lightning earlier today and are being reviewed by engineering teams to ensure they are safe to fly, the airline says. (RNZ)

• North Korea has dropped at least 260 balloons carrying rubbish in the South, prompting authorities to warn its residents to stay indoors. (BBC)

• Nearly 600,000 customers were without electricity in Texas after severe thunderstorms battered the north-east of the US state. (BBC)

• Russian President Vladimir Putin warned the West on Tuesday that NATO members in Europe were playing with fire by proposing to let Ukraine use Western weapons to strike deep inside Russia, which he said could trigger a global conflict. (RT)

Deal Flow

Investments / M&A

• Future Fund can happily drive into the sunset with its newly acquired 19.8 per cent slice of Melbourne toll road EastLink, once coveted by ASX-listed Transurban. (AFR)

• The $2.3 billion listed gold miner Ramelius Resources has approached $1 billion Westgold Resources to discuss a merger proposal, in a deal that could be the sector’s biggest amid a recent wave of consolidation. (AFR)

• ConocoPhillips is in advanced talks to acquire smaller rival Marathon Oil Corp. which would extend the oil industry’s spree of major deals, the Financial Times reported. (BBG)

Equity Raises

• German perfume and cosmetics retailer Douglas, opens new tab reported a net loss in the second quarter, affected by expenses linked to its IPO, the company said on Wednesday. (RT)

Daily Picks

• Lotto Powerball: $33 million prize not struck, rolls over to Saturday (Herald)

• Albert Ruddy, Oscar-winning producer of ‘The Godfather’ and ‘Million Dollar Baby,’ dies at 94. (Herald)

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