☕️ New phone, who dis?

The big event for global equity markets this week is Apple's new iPhone

September 11, 2023

Good morning.

The big event this week for global equity markets and technology enthusiasts alike is the launch of a new iPhone. Apple will unveil the iPhone 15 at a special event on its campus in California on Tuesday (Wednesday morning in Australia). iPhone launches aren’t what they used to be, but this is still a critical product release for the most valuable listed company in the US, which is facing a potential crackdown in China, one of its most lucrative markets.

As for what is actually expected from the new device? In short, a USB-C charging port, and a more powerful camera.

LOI Subscriber #TBD

MARKET MOVERS

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

Market News: Platinum Asset Management shares sunk to new depths on Friday after the company attempted to take out the trash on Thursday night. In an update to the ASX that landed nearly two hours after the closing bell, Platinum revealed it suffered $912 million in outflows during August, the bulk of which came from an institutional redemption. The pioneering international equities fund manager has had a tough time over the past year, with weak performance and internal tensions hitting the share price.

THE QUICK SYNC

  • Investment giants Blackrock and MFS Investment Management both voted against Glencore’s climate plan at its AGM this year. (Financial Times)

  • The return to the office is a $1.3 trillion problem few have figured out. (Bloomberg)

  • The story of the G20 summit in New Dehli was shaped by who wasn’t there. (Capital Brief)

  • The politician from the world’s smallest country who took on Apple - and won. (Wall Street Journal)

  • Australia's $30b green bank faces a new kind of challenge. (Capital Brief)

TRADING FLOOR

M&A:

  • KKR is preparing to acquire a 40% stake in Queensland Airport Limited. (AFR)

  • Tambla has enlisted Allier Capital to oversee a sale process expected to yield a deal worth $50-100m for the vendor. (AFR)

  • NTT and Telstra are both competing to acquire Versent. (AFR | Capital Brief)

  • Private credit funds want a slice of winning BHP coal bid (Capital Brief)

  • Affinity Equity Partners taps Macquarie Capital's bankers to guide them through VetPartners' expedited auction. (AFR)

  • The Oatley family hires UBS to explore potential options for Hamilton Island. (AFR)

  • Baresop has successfully reached an agreement to have its products available through the Blooms The Chemist community pharmacy network. (BNA)

  • Pacific Equity Partners is reportedly considering an acquisition of New Zealand egg producer Mainland Poultry, also known as Zeagold Foods. (The Australian)

  • Following Chalice Mining's scoping study for its Gonneville nickel and copper project, which led to a decline in share prices, there is speculation about whether potential buyers will reconsider their interest in the project. (The Australian)

Capital Markets:

  • TPG Capital had initially intended to explore the possibility of listing the pet care business Greencross this year, but the deal is currently on hold. (The Australian)

  • Deerpath Capital is reaching out to Australian superannuation funds and family offices to explore a potential fundraising campaign. (AFR)

  • Audinate has successfully completed a $50m fundraising effort to strengthen its audiovisual media technology, Dante. (BNA)

VC:

  • Dovetail's CEO on turning down a16z and catching the AI wave (Capital Brief)

Others:

  • Discussions regarding significant equity fundraising have sparked a renewed debate on how swiftly large companies will pursue major deals without the support of their major shareholders. (The Australian)

  • How Regal’s Phil King made himself essential to the market (AFR)

  • BGC could potentially face a class-action lawsuit due to construction delays. (BNA)

  • Azure Capital has appointed Olivia Boyne as its first female partner, marking a historic milestone for the firm during a series of promotions. (AFR)

  • ASIC is taking legal action against AustralianSuper for its alleged failure to address multiple member accounts. (BNA | Capital Brief)

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