Elon Musk voted off the bird's nest?

Good Morning,

Millions vote for Elon Musk to quit as CEO in his Twitter poll, Capitol riot committee seeks four criminal charges for Trump, World Cup champion Argentina returns home to a jubilant Buenos Aires, Brutal 2023 ahead for NZ economy, says ASB, tourism could be the kicker to get regions humming next year.

Let's jump in.

Before The Bell

Markets

• GDP scorcher helps to allay fears of crash landing Devon Funds head of retail Greg Smith on the week ahead in the markets. (NBR)

• Wall Street’s 2023 profit decline could rival GFC, US stocks could be facing the largest fall in corporate profits next year since the global financial crisis, a scenario that is plainly underestimated by investors heading into 2023, Morgan Stanley warned. (AFR)

• Consumers show Christmas pessimism: Westpac Westpac McDermott Miller survey at the weakest level since 1988. (NBR)

• Treasury yields rose and global equities fell after the Bank of Japan emulated its central bank peers with a hawkish move that lifted the yen to its highest in more than four months and sent domestic bond yields 20 basis points higher. (BGB)

Earnings and Data

• Grim retail sales figures for November have been revealed within Monday morning's Performance of Services Index (PSI), with an index value of 30.7 compared with 52.8 in October, further confirming a very tough festive season for retailers. (NBR)

News Summary

• Brutal 2023 ahead for NZ economy, says ASB. All negative, but tourism could be the kicker to get regions humming next year. (NBR)

• Millions voted for Elon Musk to quit as CEO in his Twitter poll, more than half of 17.5 million users who responded to a Twitter poll created by billionaire Elon Musk over whether he should step down as head of the company had voted yes by the time the poll closed on Monday. (Stuff)

• A US congressional inquiry into last year's Capitol riot says ex-President Donald Trump should face criminal charges, including insurrection. The Democratic-led committee voted unanimously for the justice department to prosecute Mr Trump. (BBC)

• Argentina’s World Cup-winning squad arrived home to a jubilant Buenos Aires in the early hours of Tuesday morning [Night NZT], with massive crowds lining the streets and cheering their champions’ return. (CNN)

Deal Flow

Investments/ M&A

• NBR Lister Peter Masfen takes a significant stake in Seeka, NZX's announcement reveals Masfen Securities now owns more than 5%. (NBR)

• NZX-listed medicinal cannabis company Cannasouth has entered into a "prospective merger arrangement" with Bay of Plenty cannabis grower Eqalis Group. Cannasouth would purchase 100% of Eqalis's shares for $48.8 million NZD via the issue of nearly 148 million shares. (NBR)

• Anchorage Capital Partners has snared upmarket department store David Jones for around $100 million from its South African owners Woolworths Holdings Ltd. It's a small fraction of what WHL paid nearly a decade ago, ending a painful period of ownership. (AFR)

• Binance US to Buy Bankrupt Voyager Digital's Assets for $1 Billion. (BGB)

VC & Fundraising

• Redaptive Inc., a company that manages energy-efficiency upgrades for commercial buildings, raised $200 million from Canada Pension Plan Investment Board in a funding round after withdrawing its plan for a US initial public offering. (BGB)

Equity Raises

• Listed copper explorer Cobre has returned from a trip to the equity capital markets with $5m AUD in fresh funds, including cheques from Sprott Asset Management and its two largest shareholders. (AFR)

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