☕ NYC timelapse

Good morning. If you haven’t seen it already, Gotham New York City is currently in the middle of some apocalyptic-like haze as smoke from nearby wildfires smothered the skyline. There’s a neat little timelapse you can check out here.

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MARKET MOVERS

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

Market News: Air NZ upped their FY23 guidance for the 2nd time this year — having first guided to $450-530m, then to $510-560m, and now projecting that earnings before tax and other significant items won’t come in below $580m.

The earnings boost is mostly because capacity has bounced back to around pre-COVID levels — 95% domestically and 80% of internationally. Plus, the recent drop in oil prices has helped it juice profits.

THE QUICK SYNC

• Investment banking fees are on course for their worst first-half showing in four years. (AFR)

• Saudi Arabia, Kerry Packer and the art of shaking up a sport. (SMH)

• PwC Australia has delayed its main mid-year partner intake. (AFR)

• Lendi says the fixed-rate mortgage cliff is imminent, with 48% of loans on its book rolling onto more expensive variable rates this year. (AFR)

• Eurozone enters recession after Germany, Ireland growth revision. (CNBC)

TRADING FLOOR

M&A:

• Allegro has sold Pizza Hut Australia to US’s largest franchise owner Flynn Restaurant Group. (AFR | The Australian)

• Houlihan Lokey is poised to test buyer appetite for Adamantem Capital’s horse feed business, Hygain. (AFR)

• Blackmores bid of $95/sh is ‘fair and reasonable’, according to an expert. (AFR)

• Channel Four Television will invest $6.5m for a 20% stake in Airtasker's UK business. (BNA)

  • Airtasker has sold a slice of its British subsidiary to Britain’s Channel 4 in return for $6.5m worth of free advertising. (AFR)

• Eucalyptus is acquiring the Australian Jenny Craig brand from its administrators. (StartupDaily)

• Lendlease is understood to have tapped Gresham for the sale of its retirement living business stake (The Australian)

Capital Markets:

• Zip Co has Goldman Sachs stitching up a $25m equity raising. (AFR | The Australian)

• Dragonfly Enviro Capital is looking to launch a $50m capital raising. (AFR)

• Kimberley Marine Support Base is raising for the construction of a floating wharf at the West Australian government’s Broome Port. (AFR)

• Investment banks’ are on high alert for a monster block trade out of Auckland International Airport. (AFR)

VC:

• Gathar, an at-home catering platform, has raised nearly $800K in a crowdfunding on the female-founder-focused Microwd. (StartupDaily)

• Antler has announced a new $452m ‘Elevate’ fund. (SmartCompany | AFR)

Others:

• VGI Partners’ founder is taking a 3mt sabbatical a year after the business’ merger with Regal Funds Management. (AFR)

• Anshul Sidher steps in to replace ANZ’s head of markets, Shayne Collins. (AFR)

• JPMorgan adds Tim Bracewell to its metals and mining team. (The Australian)

• Anacacia Capital is warming up investors to raise its new 10-year, mid-market buyout fund, Fund IV. (AFR)

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THE WATERCOOLER