Labour Market Stays Tight

Good Morning,

Unemployment rate stays low at 3.3%, Foodstuffs freezes prices paid to its suppliers for over 200 days, Sky TV to return $70m to shareholders, AUSTRAC probes Sportsbet and Bet365 for suspected money laundering, North and South Korea fire missiles at each other, Bolsonaro ends silence without publicly conceding and Benjamin Netanyahu set to make a comeback in Israel.

Let's jump in.

Before The Bell

Markets

• Mixed day in the markets as NZ unemployment stayed steady on 3.3%

News Summary

• Sky TV's shareholders aggrieved by share consolidation (NBR)

• Foodstuffs freezes price paid to its suppliers for over 200 days (NBR)

• Labour market remains tight, whopper RBNZ hike expected (NBR)

• Government tables measures to curb buy-now, pay-later 'debt traps' (NBR)

• AUSTRAC launches new probe to investigate suspected dirty cash flowing through one of Australia's largest bookmaker and its smaller rivals (AFR)

• Biden slams DeSantis as 'Trump Incarnate' (BBG)

• Fed to hike big again and open door to downshift (BBG)

Deal Flow

Investments/ M&A

• George Kerr’s real estate company RCL Group has agreed to buy a 163ha block of development land near Queenstown for $70 million NZD (NBR)

• Central Healthcare is seeking Commerce Commission approval to acquire an ownership interest in the Crest Hospital (NBR)

• EQT leads bidding for stake in $9 billion USD tower firm TDF (BBG)

• Gulf Capital sells Chef Middle East for $100 million USD (BBG)

VC & Fundraising

• Blackbird Aotearoa secures $75 million NZD for second NZ startup fund (NBR)

Equity Raises

• KFC and Pizza Hut operator set for $2 billion USD UAE, Saudi IPO (BBG)

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