Huawei Unveils the Worlds First Tri Folding Phone

Good Morning,

China's Huawei Technologies on Tuesday unveiled the world's first tri-foldable phone as it seeks to expand its lead in the world's biggest smartphone market and steal the spotlight from Apple hours after it debuted a new iPhone, a jury at the Auckland District Court found the man guilty of three charges of indecently assaulting a boy between 12 and 16 and guilty of five charges of indecently assaulting a male over 16, following a week long trial in August, and 52-year-old quit his job, bought a failing snack company for $250,000—now it brings in $103 million a year.

Let's jump in.

Before The Bell

Markets

• China's Huawei Technologies on Tuesday unveiled the world's first tri-foldable phone as it seeks to expand its lead in the world's biggest smartphone market and steal the spotlight from Apple hours after it debuted a new iPhone. (RT)

• UK grocery inflation edged lower this month, data from market researcher Kantar showed on Tuesday, after rising for the first time in 18 months in last month's report. (RT)

• Oil prices edged down on Tuesday as weak Chinese demand offset U.S. supply disruptions from Tropical Storm Francine and as global oil oversupply risks continued to weigh on the market. (RT)

Earnings and Data

• ShareFile, launched in 2005 by Jesse Lipson, uses advanced encryption methods when sending and storing files. The unit is expected to contribute $240 million to Progress' annual revenue, driven by its customer base of more than 86,000. (RT)

• European shares were flat on Tuesday, after a 1% jump in the previous session, as investors parsed through a mixed set of economic data while awaiting a widely expected ECB rate cut later in the week. (RT)

News Summary

• Mental health campaigner Mike King says he pulled his charity I Am Hope’s backing from a fundraising event because he did not want to associate with the inappropriate tagline of a beer tied to it. The beer’s tagline is “not for p*ssies”. (Herald)

• Murder defendant Dr Philip Polkinghorne quietly sobbed in court today as his lawyer read aloud a previously unseen email that wife Pauline Hanna appears to have sent to herself in April 2020 - one year before her death. (Herald)

• Two boys have been found dead in a Blue Mountains home in New South Wales, Australia, with their mother under police guard in hospital with self-inflicted wounds after being arrested. (Stuff)

• First Union National Secretary for Retail and Finance, Rudd Hughes, said 400 Woolworths Employees turned up to the rally outside Auckland’s Ponsonby branch. (Stuff)

• A jury at the Auckland District Court found the man guilty of three charges of indecently assaulting a boy between 12 and 16 and guilty of five charges of indecently assaulting a male over 16, following a week long trial in August. (Stuff)

• Australian technology veteran Daniel Petre says the Albanese government should force social media giants such as Facebook and Snapchat to develop systems to block underage access if it is serious about protecting children and teenagers from online harms. (AFR)

• Raygun was not even the only Australian to find herself inside the top 10 b-girls in the world, according to the rankings, with Molly 'Holy Molly' Chapman, Hannah Belet, and Geraldina 'G-Celf' Hnitko all featuring in the rarefied positions. (9News)

• Plane spotters have been fascinated by the arrival of one of the world's strangest-looking aircraft at Heathrow airport in London on Monday. (9News)

Deal Flow

Investments / M&A

• Shares of Australia's Premier Investments fell 8% on Monday and were on track for their worst session in more than four years, after preliminary annual results showed that the company's retail brand earnings fell short of market estimates. (RT)

• Swedish investment firm EQT has agreed to acquire a controlling stake in global healthcare outsourcing firm GeBBS Healthcare Solutions for more than $850 million, two people with knowledge of the deal said. (RT)

VC & Fundraising

• South Korea's online lender K Bank has announced a planned initial public offering to raise up to 984 billion won ($731.64 million), in what is expected to be one of the biggest stock market debuts this year. (RT)

• MBX Biosciences, which is developing peptide therapies for treating endocrine and metabolic disorders, including obesity, said on Monday it was seeking a valuation of up to $482.5 million in its initial public offering in the United States. (RT)

Debt

• Greece will spend an additional 3.5 billion euros ($3.9 billion) next year on pension and wage hikes and on defence, Finance Minister Kostis Hatzidakis said on Monday. (RT)

Daily Picks

• Bill Gates says he wants to work another 20 to 30 years: ‘Warren Buffett still comes into the office six days a week’ (CNBC)

• 52-year-old quit his job, bought a failing snack company for $250,000—now it brings in $103 million a year (CNBC)

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