Have An Extra Slice Of Pav on Xmas..Recession's Coming

Good Morning,

The Treasury has forecasted that New Zealand will be enter a recession in 2023, Sam Bankman-Fried has been denied bail in The Bahamas, New Zealand has banned cigarettes for those born after 2008, RBNZ has defended spending millions of dollars in investment amidst high inflation, The Federal Reserve is likely to raise rates by 50 basis points and the little boy from Rosario has done it again to lead Argentina to the Fifa World Cup final.

Let's jump in.

Before The Bell

News Summary

• The Treasury has warned that New Zealand will enter a recession in 2023 with unemployment peaking at 5.5% (NBR)

• The RBNZ has defended spending millions on investment which included an office refit and a new website (NBR)

• The United States Congress has introduced legislation to ban social media App Tiktok in the US over Chinese security concerns (BBC)

• Meta has been sued for over USD$2 billion for fuelling hate speech and violence during Ethiopia's civil war (BBC)

• Australian crypto exchange Swytfx is heavily exposed to the world's biggest crypto exchange Binance through its use of an API that pulls assets from Binance (AFR)

• The Federal Reserve is expected to raise rates by 50 basis points after US CPI came in lower that expected (BBG)

Deal Flow

Investments/ M&A

• ACC has boosted its stake in property asset company Asset Plus as a potential capital return looms next year (NBR)

• Private equity group Five V has agreed to take a 30% stake in Australian born and bred packaging company BioPak which values the firm at AUD$275 million (AFR)

• Germany's Deutsche Bahn is nearing a decision to sell DB Schenker logistics unit which would value the division at €20 billion (BBG)

• The UAE is set to buy a stake worth USD$855 million in Israeli financial services firm Phoenix Group (BBG)

Equity Raises

• Turkish logistics and transport company MNG is looking to expand using proceeds from a SPAC listing (BBG)

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