Powell Applies the Brakes

Good Morning,

Jerome Powell indicates that rate hikes may not need to be as aggressive in the future, Russia uses dud nuclear-capable missiles against Ukraine, Damning report spurs impeachment risk for South Africa's president, NBN writes off recovering $31 billion of government investment, Fisher Funds becomes New Zealand's largest wealth provider and Florida to pull $2 billion USD of assets from Blackrock of ESG.

Let's jump in.

Before The Bell

News Summary

• NBN Co will not recover at least $31 billion the government invested to build the network (AFR)

• Jerome Powell's most important inflation indicator is cooling down (BBG)

• Damning report raises tough questions for South Africa's president Cyril Ramaphosa (BBC)

• Fisher Funds becomes New Zealand's largest wealth provider after completing the acquisition of Kiwi Wealth (NBR)

• Florida will put out over $2 billion USD of assets from BlackRock over its ESG practises (BBG)

Deal Flow

Investments/ M&A

• Smash repairer Western General hunts private equity investors to take over the business (AFR)

• Data fintech Demyst fields interest from US private equity firms (AFR)

• NZX listed Tourism Holdings has completed a merger with Australian-based RV operator Apollo Tourism & Leisure (NBR)

Equity Raises

• Regal Investment Fund raising $80 million AUD to stock up credit strategy (AFR)

• Dominos Pizza asks for a $100 million AUD equity top up (AFR)

• Chinese nickel producer Lygend Resources, IPOs in Hong Kong (BBG)

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