Three missing Phillips children are alive after sighting video made public

Good Afternoon,

Shein's British business made 1.55 billion pounds ($2 billion) in revenue in 2023, Kiwibank has announced it will be reducing its variable home loan rates by a significant 0.50%, and High hopes RBNZ will double-down with 50 basis point cut.

Let's jump in.

Before The Bell

Markets

• Kiwibank has announced it will be reducing its variable home loan rates by a significant 0.50%, ahead of the Reserve Bank's OCR decision tomorrow. (1 News).

• China Markets Warn Xi More Stimulus Is Needed to Fuel Rally. (BBG).

• Crude prices slide over 4% on possible Hezbollah-Israel ceasefire. (Reuters).

• United States Federal Deficit Hit $1.8 Trillion for 2024, CBO Says. (WSJ).

Earnings and Data

• PepsiCo Reports a 'Slower' Consumer Recovery as Earnings Season Starts. (Investopedia).

• Shein's British business made 1.55 billion pounds ($2 billion) in revenue in 2023. (Reuters).

• Samsung posts disappointing third-quarter profit guidance as it grapples with AI chips. (CNBC).

• High hopes RBNZ will double-down with 50 basis point cut. (Herald).

News Summary

• The mother of the three missing Phillips children is “relieved” the youngsters are alive after seeing them in a video for the first time in almost three years. (Herald).

• A prominent former political figure found guilty of eight sex crimes dating back to the 1990s has taken his bid for continued name suppression to the High Court. (1 News).

• There are growing fears of a looming environmental disaster in Samoa, as video emerges of a sea turtle struggling to swim in thick, brown oil on the surface of the water near where the $100 million New Zealand Navy vessel sank. (Herald).

• Man charged with Christchurch woman’s murder after she lay dead for days. (Stuff).

• The sequel to Joker has opened to near-universal disdain from audiences and critics — but one scene in particular has sparked a furious reaction online. (NCA).

• North Korean leader Kim Jong Un has sent a birthday message to Russian President Vladimir Putin, calling him his "closest comrade". (BBC).

• Donald Trump secretly sent coveted Covid-19 tests to Vladimir Putin for personal use when it was in short supply, a claim angrily dismissed by the Trump campaign. (BBC).

• Billionaire Elon Musk says it would be pointless to kill ‘puppet’ vice-president in interview with Tucker Carlson. (Guardian).
  

Deal Flow

Investments / M&A

• Ares to acquire GCP’s Ex-China Assets for Up to $5.2 Billion. (BBG).

• Bank of America names Brabazon co-head of global M&A, memo says. (Reuters).

Equity Raises

• Spanish Baker Europastry that had targeted €1.51 billion in market value offering Halts Planned IPO Citing Geopolitics. (BBG).

• Hyundai to launch $3 billion India IPO next week at 1,865-1,960 rupees per share. (Reuters).

Venture Capital

• Eight venture capital-backed companies listed in the third quarter and raised $1.1 billion, a 50% decline from a year earlier. (WSJ).

Daily Picks

• Police and customs seize 515kg of meth concealed in steel beams. (RNZ).

• Wellington councillor wants mayor and wider council to listen to businesses amid Bordeaux Bakery closure. (Stuff).

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