Reduce, Reuse, Recycle your organic waste?

Author

Sophie Wood
April 12, 2023

Good Morning,

Firstgas agrees to turn biogas produced by organic waste collected from Aucklanders into a new product mixed with natural gas, Alibaba plans to create their own Chat-GPT style AI, 7-day bank transfers to be rolled out next month, a wildfire in South Korea kills at least one & New Zealand creeps closer to joining NATO.

Let's jump in.

Before The Bell

Markets

  • Bitcoin hits $30,000 mark in value sine June 2022.

  • Australian shares traded firmer on Tuesday with the benchmark index climbing 1.3 per cent as 10 out of 11 sectors finished higher at the market’s close. IT was the laggard, slipping 0.1 per cent. (AFR)

  • The pan-European Stoxx 600 index was up 0.6% in morning trade, with most sectors and major bourses trading in the green. (CNBC)

Earnings and Data

  • Market leader Fisher and Paykel Healthcare was down 27c to $26.73, Meridian declined 17.5c or 3.33% to $5.125; Infratil shed 12c to $9.16; Skellerup Holdings fell 20c or 3.91% to $4.91; and PGG Wrightson decreased 9c or 2.05% to $4.30. (GR)

  • Chorus gained 2c to $8.45 after telling the market that total fibre connections increased 15,000 to 1.01m in the third quarter and ultra-fast broadband now covers 72% of its completed footprint. Auckland has an 81% uptake. (GR)

  • Platinum suffered net outflows of approximately $223 million last month after the fund manager’s funds under management improved in March. (AFR)

News Summary

  • One of the original members of the Mongrel Mob gang has died. (Stuff)

  • The end of the financial year has come with a cash bonus for more than 22,000 people, care of the Government’s cost of living payment, and many more could be in line for the windfall. (Stuff)

  • As of next month, transactions will happen seven days a week. (Stuff)

  • Gas distributor First Gas has agreed to turn the biogas produced from organic waste collected from Auckland homes into a product that it can mix with natural gas and pipe to customers. (Stuff)

  • The government has announced 32 new health sector roles are to be added to the Straight to Residence pathway of the Green List to help prepare the health system for the coming winter. (RNZ)

  • Australia has reached an agreement with China to resolve their dispute over barley imports, says Foreign Minister Penny Wong. (RNZ)

  • New Zealand creeping ever closer to NATO (RNZ)

  • Interest rates in major economies are expected to fall to pre-pandemic levels because of low productivity and ageing populations, according to a forecast. (BBC)

  • Chinese technology giant Alibaba has announced plans to roll out its own artificial intelligence (AI) ChatGPT-style product called Tongyi Qianwen. (BBC)

  • Russia’s plans to cut oil production are finally starting to look like reality, with the nation’s seaborne shipments collapsing last week. (BBG)

  • South Korea fined Alphabet Inc.’s Google 42.1 billion won ($32 million) for using its clout in the mobile app market to squeeze out a local rival, the latest sign of intensifying scrutiny on the US tech firm as it seeks to expand overseas. (BBG)

  • A wildfire fueled by strong winds on Tuesday burned parts of a seaside city on South Korea’s eastern coast, killing at least one person and forcing hundreds to flee before being slowed by rain. (BBG)

  • China’s credit expanded faster than expected in March, a sign that the central bank’s moves to unleash more long-term liquidity into the economy and support bank lending is fueling investment activity. (BBG)

  • Most global central banks may be either close to a peak or already done with interest-rate hiking, auguring a hiatus before possible monetary loosening comes into view. (BBG)

Deal Flow

Investments / M&A

  • Pharmacy retail chain Green Cross Health says share purchases associated with director Craig Brockliss ahead of its special dividend announcement were approved by the board. (NBR)

  • Analysts at Forsyth Barr say power company Genesis Energy would be better off giving away its 46% stake in the Kupe gas field than continuing to own and invest in the asset. (NBR)

  • Tupperware shares plunge as it warns of possible collapse (BBC)

  • Shares of Alibaba Group Holding Ltd.’s units that may soon become public are expected to be in high demand as the breakup unleashes value in the wake of regulatory woes, investors said. (BBG)

VC & Fundraising

  • Vedanta Ltd., billionaire Anil Agarwal’s Indian commodities major, is in talks with US-based Farallon Capital Management to raise at least $1 billion, according to people familiar with the matter. (BBG)

Equity Raises

  • Morgan Stanley and Bank of America are teeing up investor calls for listed miner Nickel Industries’ debt capital markets trip, aiming to pull off what would be 2023’s first chunky high-yield credit deal on Australian shores. (AFR)

  • Private equity firm KKR & Co Inc (KKR.N) has agreed to buy a significant stake in FGS Global in a deal that values the financial communications group at about $1.4 billion. (RT)

  • Britain's MJ Hudson (MJH.L) said on Tuesday it had agreed to sell its data & analytics, and business outsourcing units for 40 million pounds ($49.66 million) to asset manager Apex Group. (RT)

Daily Picks

  • A tornado leaves a teenager injured in Kapiti after tearing through his sleepout. See more here.

  • Russia will expand penalties for those who evade the military draft under a new package of legal changes. (BBG)

  • Israel Adesanya has come under fire from some fans for taunting the son of Alex Pereira following his knockout victory to reclaim the UFC middleweight belt. Read more here.

Job Board

New Zealand

  • BDO graduate and intern roles - Apply here

  • Bell Gully summer intern roles - Apply here

  • Buddle Findlay summer clerkships - Apply here

  • Chapman Tripp winter and summer clerkships and clerk roles - Apply here

  • Deloitte intern roles - Apply here

  • Deloitte graduate roles - Apply here

  • DLA Piper insight programme,summer clerkships and clerk roles - Apply here

  • EY graduate and intern roles - Apply here

  • Forsyth Barr associate analyst - Apply here

  • Forsyth Barr associate analyst (global equities) - Apply here

  • Grant Thornton graduate roles - Apply here

  • KPMG graduate and intern roles - Apply here

  • PWC graduate and intern roles - Apply here

  • Russell McVeagh summer clerkships - Apply here

  • Russell McVeagh clerks - Apply here

Australia

  • Citadel Securities graduate and intern roles - Apply here

  • Goldman Sachs Investment Banking Intern - Apply here

  • IMC graduate and intern roles - Apply here

  • Jarden

    • Graduate role - Apply here

    • Summer internships - Apply here

  • Macquarie graduate roles - Apply here

  • Optiver

    • Graduate role - Apply here

    • Internships - Apply here

The Daily Deck is sponsored by Industrial Equity, LLC

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