• The Daily Deck
  • Posts
  • Green MP Resigns After Three Accounts of Shoplifting

Green MP Resigns After Three Accounts of Shoplifting

January 17, 2024

Good Morning,

Kiwibank to drop home loan interest rates, Grant Thornton decides to start paying workers for a 10-day working fortnight, however only requiring them to work for 9. Ukrainian forces destroy a Russian NZ$483 million spy plane and heavily damage another.

Let's jump in.

Before The Bell

Markets

  • The NZ Institute of Economic Research’s well-regarded survey of business opinion showed a sharp rise in confidence in the December quarter, with a net 10% of businesses expecting the economy to get worse over the coming months. (NBR)

  • Kiwibank is cutting a number of its home loan interest rates. Its two-year special rate drops from 7.05% to 6.89%, the three-year from 6.89% to 6.75%, the four-year from 6.79% to 6.69% and the five-year from 6.79% to 6.59%. (Stuff)

  • The S&P/ASX 200 dropped 81.5 points, or 1.1 per cent, to 7414.8 – its lowest point since mid-December. The All Ordinaries fell by a similar margin. (AFR)

  • The $A fell 0.7 per cent to US66.10¢ on Tuesday and has sunk more than 3 per cent since December 28, when it topped a five-month high of US68.71¢. Since then, it has become one of the weakest currencies, even after US data reinforced bets of an early rate cut by the Fed. (AFR)

  • Australian shares are poised to fall, tracking weakness in Europe after data confirmed German’s economic malaise. Consumer sentiment data tops Tuesday’s data prints. (AFR)

Earnings and Data

  • Gaspy data shows that the average price for 91 petrol on Monday was $2.66 a litre, down 2.5% on the previous 28 days. Diesel was $2.07 and 95 $2.86. (Stuff)

News Summary

  • The Independent Electoral Review has stuck with its initial recommendations to impose more restrictions on political donations while providing more taxpayer funding for political parties. (NBR)

  • Legal hostilities in a case involving $39 million of proceeds from litigation over the collapse of Dave Henderson’s Property Ventures group 14 years ago have continued as the trial date approaches next month. (NBR)

  • Former Green MP Golriz Ghahraman was seemingly filmed checking her surroundings, before discreetly removing an item from a clothing rack in the Auckland store Scotties, video shows. (Stuff)

  • Ukrainian forces have destroyed a NZ$483 million Russian spy plane and badly damaged a second in a significant blow to Moscow’s air power. (Stuff)

  • Accounting and consulting firm Grant Thornton has put staff on a nine-day fortnight, for the same pay. (Stuff)

Deal Flow

Investments / M&A

  • Queensland’s state investment fund QIC is reportedly mulling a sale of its 58% stake in New Plymouth-based electricity and gas distributor Powerco. (NBR)

  • An international private equity firm has gained approval to purchase a New Zealand-founded ed-tech company for $140 million after tracking its global success. (NBR)

  • The nation’s top bankers are cautiously optimistic about the year ahead, but bonus season will be a reminder of just how tough 2023 was to rack up fees as big deals dried up. (AFR)

  • Professional services company BlueRock has secured a $5 million capital injection from Sydney investment firm Ophir Asset Management, Street Talk can reveal. (AFR)

  • Street Talk can reveal luxury skincare brand iKOU is gathering interested parties for its first majority share sale, hoping to bring on a strategic partner to turbocharge growth. (AFR)

  • Local infrastructure giant QIC has hired Barrenjoey Capital Partners to run a strategic review of its 58 per cent stake in New Zealand’s largest electricity distributor, Powerco, while co-investor Dexus has also bankered up to help consider options around its pre-emption rights. (AFR)

  • Rio Tinto is expected to update the market on its sale of Lake Macleod salt operations in WA’s Carnarvon on Tuesday morning. (AFR)

  • Street Talk understands a handful of private capital players reached out to Anglo American’s Australian outpost recently, keen to see if the company would be interested in selling its Queensland coal mines. (AFR)

VC & Fundraising

  • Crimson Education has confirmed to NBR it ‘briefly explored’ an ‘inbound approach’ to raising new capital last year. (NBR)

Equity Raises

  • Copper developer Metals Acquisition Corp to raise $200m for ASX debut (AFR)

  • South Australian copper and gold developer Rex Minerals is seeking to raise $$29.8 million in a strategic placement and entitlement offer via MA Moelis, Street Talk understands. (AFR)

Daily Picks

  • A Green Party spokesperson has confirmed the party is aware police are investigating a third allegation of shoplifting against its MP Golriz Ghahraman. Read more here.

The Daily Deck is sponsored by Industrial Equity, LLC

Reply

or to participate.