Stats NZ revealed a net migration loss of 52,500 New Zealand citizens in the year to March

Good Morning,

Stats NZ on Tuesday revealed a net migration loss of 52,500 New Zealand citizens in the year to March, Novo Nordisk (Ozempic) A/S is selling bonds for the first time in more than two years to fund plans to ramp up production of its blockbuster drugs, and Testimony from the star witness in Donald Trump's Manhattan trial has repeatedly tied a 2016 hush-money arrangement back to the ex-president.

Let's jump in.

Before The Bell

Markets

• U.S. President Joe Biden is expected to announce new China tariffs this week, targeting strategic sectors including a major hike in levies on electric vehicles, measures which could elicit a significant response from Beijing. (RT).

• Australian shares are holding modestly lower near midday as investors tread water ahead of today’s federal budget and key inflation data out of the US. (AFR).

• Returns from big tech and bitcoin have outpaced much of the rest of the Australian exchange-traded fund market over the last year. (AFR).

Earnings and Data

• Sony Group Corp. predicted sales in the year to March that missed analysts’ estimates, citing waning demand for PlayStation 5 hardware.(BBG).

News Summary

• Stats NZ on Tuesday revealed a net migration loss of 52,500 New Zealand citizens in the year to March, for every arrival of a New Zealand citizen there were three departures. (NH).

• One person has been injured and a Christchurch school was in lockdown this afternoon as armed police surround a nearby house after reports of a man with a gun. (Herald).

• OpenAI unveils new ChatGPT that listens, looks and talks. (Herald).

• Christopher Luxon announces Christchurch Call Foundation, Dame Jacinda Ardern to remain 'integral part' (NH).

• Police are investigating after a man was found dead in a Gold Coast park early this morning, the man was found with severe burns to his body. (9 News).

• A man who leaked classified military documents that revealed allegations Australian soldiers committed war crimes in Afghanistan will spend at least two years and three months behind bars. (9 News).

• EY manager claims he was sacked for complaining about 80-hour week. (AFR).

• Israeli troops have continued their offensives across Gaza, deploying tank fire, artillery bombardment and airstrikes against Hamas militants in the most intensive round of fighting for weeks. (Guardian).

• Testimony from the star witness in Donald Trump's Manhattan trial has repeatedly tied a 2016 hush-money arrangement back to the ex-president. (BBC).

• A least eight people have been killed and about 60 injured after a giant billboard collapsed during a sudden storm in the Indian city of Mumbai, authorities said. (BBC).

Deal Flow

Investments / M&A

• The French President signals he’d be open to cross-border bank M&A as he sets out the case for a transformative shift in the continent’s economic model. (RT).

• KKR Strikes Four Deals in a Week to Boost M&A Spirits in Asia. (BBG).

• Health-care investment banker Steve Lanese is joining JPMorgan Chase & Co. as a managing director for mid-cap mergers and acquisitions. (BBG).

Equity Raises

• Shares of Zeekr Intelligent Technology Holding Ltd. rose 35% after an expanded initial public offering that’s the biggest US listing by a China-based company since 2021. (BBG).

Debt

• Almond Breeze has been discontinued in Australia and New Zealand, and will no longer be sold by Woolworths, Coles, and other retailers. (9 News).

• Novo Nordisk (Ozempic) A/S is selling bonds for the first time in more than two years to fund plans to ramp up production of its blockbuster drugs. (BBG).

Daily Picks

• Testimony from the star witness in Donald Trump's Manhattan trial has repeatedly tied a 2016 hush-money arrangement back to the ex-president. (BBC).

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