☕ ChillGPT

Good morning. ChatGPT is getting so good that Elon Musk (and many other tech folks) want everyone to chill out for the next 6 months before the implications are better understood. More in Quick Sync below.

March 30, 2023

Good morning. ChatGPT is getting so good that Elon Musk (and many other tech folks) want everyone to chill out for the next 6 months before it steals our jobs the implications are better understood. More in Quick Sync below.

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MARKET MOVERS

*Stock data as of the market close. Commodities and crypto data in USD.

Market news: The testing, inspection and cert business ALS upgraded FY23 guidance from $300-$320m of NPAT to $312-$322m — in other words about a 2% uplift at the midpoint.

The low-key $6bn company saw its CEO resign earlier this month and also divested a small unit to SRG Global (an ASX-listed company) for $80m.

THE QUICK SYNC

  • ‘Not good enough’: Private equity’s shocking gender report card. (AFR)

  • Regulator probes ASX’s botched CHESS overhaul. (Australian)

  • Alan Joyce’s $24m golden parachute. (AFR)

  • Elon Musk and other tech experts call for 'pause' on advanced AI systems. (CNBC)

    • Open Letter: Pause Giant AI Experiments. (Source)

  • Binance hid extensive links to China for several years. (FT)

  • UBS brings back Sergio Ermotti as CEO to oversee Credit Suisse rescue. (CNN)

  • Disney to lay off 7000 staff, shuts down metaverse division. (RT)

TRADING FLOOR

M&A:

  • HMC Capital signs a deal to acquire hospital properties owned by Medical Properties Trust. (AFR | The Australian)

  • Albemarle’s Liontown bid sparks worldwide search for counterbidders. (AFR)

    • Albemarle’s bid for Liontown comes as it transitions from explorer to producer. (AFR)

    • Bell Potter backs Liontown’s rejection of the bid. (The Australian)

  • Healius has asked the Takeovers Panel to make a swath of orders against suitor ACL. (AFR)

    • ACL's conditions are ‘overly restrictive and burdensome’ according to Healius. (BNA)

    • Ethical Partners lifts ownership in ACL (current bidder for Healius)to 8.7% (AFR)

  • OTPP and AustOn have purchased a majority holding Mitolo Family Farms. (AFR)

  • Aspen Group may sell its stake in retirement village operator Eureka Group. (The Australian)

  • InvoCare are understood to be approaching major buyout funds. (The Australian)

Capital Markets:

  • HMC Capital and HealthCo expected to launch $125m and $325m raising on Thursday morning. (AFR)

  • JPMorgan’s equities desk crosses a $421m stake in CSL. (AFR)

  • Burgundy Diamond Mines kicks off a $231m acquisition raising. (AFR)

  • MoneyMe secured a $37m lifeline via a discounted raising. (AFR | The Australian)

  • Jamie Odell and Toni Korsanos are talking to local fundies for Light & Wonder which is considering an ASX listing. (AFR)

VC:

  • Marketplacer is doing the rounds at pre-IPO and VC types as it looks to raise $20m to grow the marketplace software business. (AFR)

  • Magic Valley launches lab-made pork, as it chases $5m funding. (Australian)

Others:

  • Brookfield’s Stewart Upson has played down competition concerns relating to the Origin Energy deal. (AFR)

TOGETHER WITH ARCHIE ROSE

Over the last eight years, Archie Rose has celebrated the highest quality Australian spirits and local ingredients through their personalised Tailored Spirits range, which lets you customise gin and vodka by the bottle and whisky by the cask to your individual taste. But now, Archie Rose is taking things to the next level with the launch of Tailored Whisky by the bottle.

Choose Your Flavour Profile:

Building on a base of Archie Rose Single Malt Whisky, seven times awarded Australia’s Best Single Malt Whisky, you’ll have the option of adding two out of three individual local malts.

  • Choose from: Native Stringybark Smoked Malt; NSW Pale Malt; and NSW Chocolate Malt. You can then adjust the amount to suit your personal preference.

  • If you’re unsure of where to start, the Archie Rose production team has also created two presets for you to choose from including: Rich Fruit & Chocolate; and Bold Smoke, Chocolate & Nuts.

Design Your Label:

It all comes together when you create a custom label with your name on the front and a personalised message on the back.

Tailored Whisky by the bottle, a truly special gift for clients, staff, friends and loved ones.

For A Limited Time, Receive a Complimentary Glencairn Glass With Every Tailored Whisky Order.

THE WATERCOOLER

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