☕ Goldies settles

Good morning. Goldies has agreed to pay US$215m to settle a class action over gender discrimination brought by former female employees. With about a third of the settlement to pay down legal fees, the rest will be distributed to about 2.8k former employees — mostly from the IB and securities divisions. More in the Quick Sync.

Good morning. Goldies has agreed to pay US$215m to settle a class action over gender discrimination brought by former female employees.

With about a third of the settlement to pay down legal fees, the rest will be distributed to about 2.8k former employees — mostly from the IB and securities divisions. More in the Quick Sync.

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MARKET MOVERS

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

Market news: While Tourism Holdings, the RV rental company, reaffirmed its FY23 guidance, its trading update was peppered with some general uncertainty.

Tourism Holdings (aka thl) merged with fellow ANZ competitor, Apollo Tourism, last year — from which they expect should realise $23-24m in EBIT synergies.

But their trading update yesterday flagged that the macro trends may push people to travel to lower-cost destinations vs ANZ, which could lower rental demand for their RVs.

THE QUICK SYNC

  • Picking the wrong side: Why the PwC scandal just gets juicier. (SMH)

  • Federal budget 2023: winners and losers summary. (Guardian)

    • Future Fund faces $72.19bn pension shortfall. (Australian)

    • Australia Post bail out the cards as it faces potentialy losses. (Australian)

  • FTX chief Sam Bankman-Fried seeks to dismiss fraud charges. (SMH)

  • Goldman to pay $215 Million to end case on underpaying women. (FT | DM)

  • Biden, McCarthy start debt ceiling talks as clock ticks to default. (RT)

  • UBS replaces CFO and keeps Credit Suisse's Koerner in top team. (RT)

TRADING FLOOR

M&A:

  • Fresenius Medical Care which owns Cura Day Hospitals has BoA on standby to explore a potential exit. (AFR)

  • Versent's much-awaited sale documents are in front of big buyout funds as the IT services company is put up for sale. (AFR)

  • Allier Capital is canvassing interest and running a two-stage auction for Quantum Radiology. (AFR)

  • Chargrill Charlie has been acquired by private equity giant PAG Asia Capital and its Craveable Brands business. (AFR | The Australian)

  • Macquarie has emerged as the buyer of Rest’s 12.6% stake in Endeavour Energy. (AFR | The Australian)

  • Worley signalled that it was examining the market for smaller deals that would add value. (The Australian)

Capital Markets:

  • Breen Resources taps E&P Corporate Advisory to help them find a growth capital partner. (AFR)

VC:

  • None

Others:

  • Deutsche Bank is understood to be once again hiring investment bankers. (The Australian)

  • Jenny Craig's Australian and New Zealand operations have officially folded, calling in voluntary administrators. (BNA | The Australian)

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THE WATERCOOLER

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