The Warehouse Goes Solar

September 20, 2023

Good Morning,

Fewer couples are wanting to wed in China, bringing a new threat to the $500b wedding industry post-covid. New regulations will allow for more financial support from the US to small businesses in Cuba. A 16-year old appears in youth court after the fatal stabbing of a man in an Albany bus stop.

Let's jump in.

Before The Bell

Markets

  • Fuel prices are expected to continue to rise to record-breaking prices – but many New Zealanders have little option but to keep forking out, even at more than $3 a litre. (Stuff)

  • The Reserve Bank of Australia considered a 25 basis point hike in interest rates before eventually deciding to hold the benchmark cash rate unchanged at 4.1%, the minutes of the central bank’s September meeting released on Tuesday showed. (RT)

  • COVID wasn't kind to wedding planners in China, where marriages are traditionally elaborate, expensive affairs, but the industry estimated at almost $500 billion is now facing a bigger threat: a plunge in the number of couples willing to tie the knot. (RT)

  • U.S. Federal Reserve officials, who have tentatively embraced the possibility they can squelch inflation without a recession, meet this week with an autoworkers strike, a possible federal government shutdown, and a student loan squeeze on consumers posing new risks to that best-case outcome. (RT)

News Summary

  • The Warehouse says by 2026 its 260 retail stores will be powered by solar energy. (Stuff)

  • There are now 15 confirmed cases of cryptosporidium in Queenstown, which one sufferer describes as horrible and debilitating. (Stuff)

  • The Biden administration is preparing to unveil new regulatory measures to allow more U.S. financial support for small private businesses in Cuba, a person familiar with the matter said on Monday. (RT)

  • The United Auto Workers union said it would announce on Friday more plants to strike if no serious progress was made in talks with Ford, General Motors and Chrysler-parent Stellantis, adding to pressure on the Detroit Three automakers. (RT)

  • Canada said on Monday that it was "actively pursuing credible allegations" linking Indian government agents to the murder of a Sikh separatist leader in British Columbia in June, dealing a further blow to diplomatic ties between the countries. (RT)

  • The U.S. military said it finally found debris from a crashed F-35 fighter jet in South Carolina on Monday, a day after asking for the public's help in locating the elusive wreckage. (RT)

  • Two Vietnamese activists who the Biden administration believes were wrongly detained by the country's Communist government are relocating to the United States under an agreement negotiated ahead of the president's recent visit to Hanoi, U.S. officials told Reuters. A human rights lawyer who campaigned for accountability for police abuses, a Catholic parishioner evicted from his home, and their families are exiting Vietnam for the United States, one of the officials said. (RT)

Deal Flow

Investments / M&A

  • New Zealand Green Investment Finance has announced its biggest deal yet, with the creation of a $170 million solar finance loan for SolarZero. (NBR)

  • Several Southeast Asian companies are considering listing in the United States, banking on strong investor appetite for emerging market growth in the absence of Chinese stock offerings. (RT)

  • Morgan Stanley was sued on Monday for at least $750 million by private equity firms that claimed they were defrauded in an investment with a high-speed rail company. (RT)

Debt

  • Two companies on either side of the Tasman are facing liquidation and administrators are chasing up to US$100 million in missing funds, some of which seems to have disappeared into another failed company in the Malaysian tax haven of Labuan. (NBR)

Daily Picks

  • Albany bus attack: Teen in court after one stabbed dead in Auckland. Read more here.

  • 'High speed on rims': Rampant youths in stolen cars smash their way into five shops. See this article for more.

  • Drug-taking publican loses licence after using premises and baby's room to cultivate cannabis. See more here.

Job Board

New Zealand

  • ASB rural banking graduate - Apply here

  • Waterman Capital investment analyst - 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

Reply

or to participate.