Tax on tourists visiting NZ will almost triple

Good Morning,

Apple Phone 16 to release at the end of the month, Blackstone has acquired another large warehouse portfolio, and UK government borrowing costs surge ahead of rival countries.

Let's jump in.

Before The Bell

Markets

• China, South Africa agree to seek balanced trade, more investments. (Reuters).

• Asian Stocks Erase Gains as Dollar and Yen Outperform. (BBG).

Earnings and Data

• Huawei looks to upstage Apple with product launch just hours after expected iPhone 16 unveiling. (CNBC).

• NVIDIA Second Quarter 2025 Earnings: Beats Expectations. (Yahoo).

• HP to continue $4 billion damages case against Mike Lynch. (Reuters).

News Summary

• A former financial adviser allegedly procured about $1.7 million from two sets of clients and used it for "personal purposes". (1 News).

• Social Development Ministry got hotel contractor liquidated for ‘improper’ Covid cash claim. (Herald).

• A driver who live streamed police chasing him in his car has pleaded not guilty to multiple charges. (Stuff).

• A Kiwi tourist has died after reportedly falling from a seventh floor hotel balcony in Thailand last week. (1 News).

• Philip Polkinghorne murder trial live updates: Pauline Hanna’s hair stylist, couple’s accountant testify. (Herald).

• Tax on tourists visiting NZ will almost triple. (Stuff).

• Police have named the man who was fatally shot in Auckland's Onehunga on Saturday night. (1 News).

• A coroner has issued an urgent safety warning after a boy, seven, was crushed to death in an incident involving a luxury $140,000 car. (NCA).

• Extremist settlers rapidly seizing West Bank land. (BBC).

• Pope Francis has embarked on the longest and farthest trip of his tenure, which will see him fly nearly 33,000km to Indonesia, Papua New Guinea, Timor-Leste and Singapore. (BBC).

• The new school year began this week in Hong Kong with a significant new addition to the curriculum for some students: the teachings of Xi Jinping Thought. (Guardian).

• US military says Yemen's Houthis attacked two crude oil tankers in Red Sea. (Reuters).

• Apple Phone 16, iPhone 16 Pro Release Date Schedule. (Forbes).

Deal Flow

Investments / M&A

• Blackstone has acquired another large warehouse portfolio, in a €1bn transaction, adding to the US investment group’s bet on the logistics sector with one of Europe’s largest property deals this year. (Financial Times).

• Japanese companies cannot use national security cover to block takeovers, official says. (Reuters).

Equity Raises

• India's markets regulator puts JSW Cement's $477 million IPO on hold. (Reuters).

• India regulator's study shows more than half of IPO shares are sold in a week. (Reuters).

• Korean Chip Startup Rebellions Targets Post-Merger IPO. (BBG).

Debt

• UK government borrowing costs surge ahead of rival countries. (FT).

Daily Picks

• A tiger mauled its handler at a popular amusement park on the Gold Coast in Australia, leaving the experienced worker hospitalised with “serious lacerations and puncture wounds” to her arm. (CNN).

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