WW3 Averted?

November 17, 2022

Good Morning,

US officials say that missiles that hit Poland are unlikely to be from Russia, Donald Trump announces he is running for President in 2024, Wellington-based company Ackama has bought Common Code, Serko drops profit guidance after following challenging season, Investore profit falls 150% on property revaluation and international football teams arrive in Qatar for the upcoming FIFA World Cup.

Let's jump in.

Before The Bell

Markets

  • The market in Australia was slightly down as the Poland missile strike shakes sentiment.

News Summary

  • Missile that hit Poland is not believed to have been fired from Russia: US Officials (BBC)

  • NASA launches Artemis moon rocket (BBC)

  • Kevin McCarthy's has won the Republican nomination to be speaker in the new Congress (BBC)

  • Donald Trump makes his 2024 Presidency run official (BBG)

  • Investors at the World Economic Forum warn of more pain ahead as valuations slide (BBG)

  • Fed study finds that mortgage rates could tank home prices by 20% (BBG)

  • Napier Port to relieve pressure by picking up capacity from other ports (NBR)

  • Residents told to move out of Du Val flagship development as the building goes extensive repairs (NBR)

  • Senators slam EY's unusual economic modelling (AFR)

  • Sharemarket addict Kerr Neilson farewells Platinum (AFR)

Deal Flow

Investments/ M&A

  • Estee Lauder to buy designer brand Tom Ford in $2.8 billion (USD) deal (BBG)

  • Broadcom seeks EU approval for $61 million (USD) VMware takeover (BBG)

  • Hunter Point Capital and ADQ to buy stake in Vistria Group (BBG)

  • BHP and Oz Minerals are back in talks (AFR)

VC & Fundraising

  • Sydney's Conduit Capital to raise new fund (AFR)

  • Property investor Haben is seeking to raise $91m (AUD). (AFR)

  • BizPay, a BNPL player, is raising a minimum of $8m (AUD). The $4m (AUD) sale is at valuation of $3.44m (AUD). (AFR)

Equity Raises

  • Junior explorer Wai Resources looking to raise between $7 and $10 million AUD (AFR)

Debt

  • Banks are preparing to fund $5.4 billion USD of debt for Tenneco (BBG)

  • Private equity funds tap exotic loans as deals ebb (BBG)

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