Robert Irwin is Set to Host TikTok's Annual Awards Show

Good Morning,

Irwin will be lending his charisma to the much-anticipated 2024 TikTok Awards, Google won a legal challenge on Wednesday against a 1.49 billion euro ($1.7 billion) European Union antitrust fine, while Qualcomm failed to repeal a penalty, Melbourne home prices have been falling for six months straight and a growing number of property owners are now losing money when they choose to sell, and Chinese regulators hit PwC's mainland China unit with a six-month suspension and a record fine of 441 million yuan ($62 million).

Let's jump in.

Before The Bell

Markets

• Melbourne home prices have been falling for six months straight and a growing number of property owners are now losing money when they choose to sell. (9News)

• U.S. stocks closed nearly unchanged on Tuesday, giving up earlier gains that had vaulted the S&P 500 and Dow Industrial Average to record highs as investors braced for the first Federal Reserve rate cut in 4-1/2 years. (RT)

News Summary

• A young Hamilton mother who sexually assaulted a police officer conducting an inspection of a strip club later viciously assaulted another woman doing her shopping. (Stuff)

• Two climbers reportedly suffering from frostbite are likely to spend a second night stranded on New Zealand’s highest mountain. (Stuff)

• Flawed Corrections process ‘contributed’ to murder of Christchurch woman Nicole Tuxford by paroled ‘psychopath’ (Herald)

• The federal government has announced a plan to reduce airport noise after a new runway in Brisbane caused headaches for thousands of residents. (9News)

• Irwin will be lending his charisma to the much-anticipated 2024 TikTok Awards presented by CeraVe, which will celebrate the "diversity, uniqueness and achievements of TikTok storytellers", according to a media release. (9News)

• A young man who was trapped in his upturned car overnight after the vehicle plunged off a cliff in Melbourne's outer east has been flown to hospital with serious injuries. (9News)

• Chinese regulators hit PwC's mainland China unit with a six-month suspension and a record fine of 441 million yuan ($62 million) on Friday over the firm's audit of failed property developer China Evergrande Group (RT)

Deal Flow

Investments / M&A

• The U.S. Transportation Department said on Tuesday it had agreed to allow Alaska Airlines to close on its $1.9 billion acquisition of Hawaiian Airlines (RT)

• Rogers Communications said on Wednesday it had signed an agreement to buy Bell's 37.5% ownership stake in Maple Leaf Sports & Entertainment (MLSE) for C$4.7 billion ($3.46 billion). (RT)

VC & Fundraising

• Midea Group rose as much as 9.5% on its Hong Kong trading debut after the Chinese home appliances maker raised nearly $4 billion in the city's largest share offering in almost four years, boosting hopes for a revival in large Chinese issuances. (RT)

Debt

• A Tauranga-based family-owned motorhome business is in receivership and liquidation with BNZ still owed nearly $427,000. (Herald)

Daily Picks

• Google won a legal challenge on Wednesday against a 1.49 billion euro ($1.7 billion) European Union antitrust fine, while Qualcomm failed to repeal a penalty. (RT)

• Virtual Gaming Worlds, the online casino founded by billionaire Laurence Escalante, is expanding into lotteries after posting a 30 per cent jump in profits powered by a lucrative sweepstakes business in the United States. (AFR)

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