Sarah Thompson

https://lnkd.in/gAD_uHF3 Here's something to end the week from the SEAL team of Street Talkers Emma Rapaport Kylar Loussikian Kanika Sood Yes, it's historic but should it ever come to fruitition you'd have to think industry #superannuation #funds like AustralianSuper, UniSuper and Aware Super would have better luck sweeping the ASX off the ASX than SGX Group experienced a decade ago Australian Labor Party. #deals #mergersandacquisitions #asxnews #dealflow #capitalmarkets #breakingnews #scoops #takeover Barrenjoey Macquarie Group UBS

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How the A-Leagues burnt through $140m - investment banks, loans, club debts, the media and digital strategy, covid and more. The full story on where the money went (also in today’s paper) https://lnkd.in/gQaSj6ex

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Back in 2015, the Coalition government used its budget to reveal what we now know of as the instant asset write-off. It was the second federal budget I reported on for SmartCompany and it was a genuine rabbit-out-of-a-hat moment that surprised, and delighted, many members of the small business community. In the days that followed, we were treated to numerous photo ops with ministers standing proudly next to a small business owner who was going to invest in a new coffee machine for their cafe, or a new piece of machinery. It was, of course, the year of ‘Tony’s tradies’. The measure, which initially allowed businesses to immediately write-off the full value of a purchase up to $20,000 rather than claim deductions over its lifetime, was well received by the sector, and while the data showed the take-up was not overwhelming in the years that followed, it helped create a sense of confidence among business owners who wanted to, and could, invest in growing their business. In nearly every year since, the asset write-off has been extended, expanded, expanded again, and then extended once more. According to reports this morning, tomorrow's federal budget will extend the $20,000 instant asset write-off again, for another 12 months. Almost 10 years later, isn't it time to make it permanent? #federalbudget #budget2024 #smallbusiness #tax #instantassetwriteoff

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There’s a 50,000-unit BTR pipeline in Australia, but AustralianSuper isn’t part of it: The country’s largest industry super fund prefers the risk and liquidity profile of build to rent to own, a much smaller housing type of which it is developing some 1400 units with Assemble. AusSuper CEO Paul Schroder is clear about that. #propertydevelopment #housingaffordability #BTRTO #BTRTB The Australian Financial Review https://lnkd.in/gzYJ4AnE

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Capex for the four big AI spenders – Alphabet Inc., Amazon, META Technology Platforms and Microsoft – is staggering, and based on FactSet consensus data, is forecast to top $250bn in aggregate next year, which is about the same as the GDP of New Zealand. While this stands to fundamentally changes the traditional 'asset-lite' investment cases of these companies, they remain hugely popular with the top portfolio managers tracked by Citywire Elite Companies (all are among the top 25 of over 6,000 stocks backed by the Elite Investors we track, and Alphabet and Microsoft respectively sit in the number 1 and 2 spots). Following last week’s raft of results, we canvassed views from leading wealth managers on what we learned about the capex evolution at these tech giants - Amish Patel, CFA at Charles Stanley , John Pullar-Strecker at Canaccord Genuity Group Inc. , Ben Barringer CFA and Mamta Valechha, CFA at Quilter Cheviot, and Sanjiv Tumkur at Rathbones Investment Management International. ‘As yet there is limited evidence that their cloud businesses will be able to earn a return on this investment in the near term, but they regard the risks of not having significant generative AI capacity as significantly outweighing the cost of investing,’ Sanjiv Tumkur, Rathbones Investment Management International. Here's the article: https://lnkd.in/eUkn6KxH

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Pulling together the agenda for #financialnewswire's AI in Wealth Management Conf and, frankly, there is a helluva lot more being implemented in the sector than I imagined. https://lnkd.in/g8gu-FaT

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Markets blog today: - All roads lead to Martin Place, June 18, rates decision where RBA's fence sitting exercise faces scrutiny after AU inflation accelerated to 3.6pc in April & sparked two days of selling on ASX, in US employment growth & inflation reaccelerating on fiscal spending, since Powell's Dec pivot US stocks added around $US9t in value to household wealth, long-term investors are betting productivity gains from AI to fuel GDP growth, hard assets like housing, gold, etc, remain strong near record highs + Wilsons is backing local biotech sensation Telix Pharmaceuticals Limited to reach $20 per share, Telix has rocketed 1370pc to $5.3b valuaiton in 5 years, ahead US PCE inflation, consensus calls for US PCE to slow to 2.6pc yoy tonight

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The shift to global investments and assets by super funds is tipped to accelerate over the next decade - with some set to have more than half their assets outside Australia. Read more on Aware Super's push into London and global strategy: https://lnkd.in/gqsGGarq

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Stepping up the race for rental revenue: Commonwealth Bank is pushing more aggressively into the property management and rent roll lending business - sectors dominated by rival Macquarie Group - as this story with Lucas Baird and James Eyers shows. #proptech #businessbanking #propertymanagement The Australian Financial Review https://lnkd.in/gY_3ZWB2

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The last thing those in Treasury and #asic want is a public inquiry into the #dixonadvisory collapse but many questions remain to be answered. #faaa https://lnkd.in/eA7k3sNU

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If you've been waiting for the ACCC Data broker (now "data firms") report to drop... it's here. Some key points: - consumers have limited choice and control in the management of their data. - privacy law updates - the fair and reasonable test on information gathering and right to erasure could be crucial. - there are competition risks here in how data companies amass portfolios of services and can put in place restrictive contracts that could lead to the foreclosure of rivals in industries where only a small number of providers offer certain services. - mergers are "extensive" in the industry.... will new merger laws be influential here? #databrokers https://lnkd.in/gZuUir45

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Markets: Shares head for 7th fall in 8 sessions as bond yields extend gains on inflation worries, curiously USD & #gold appreciating as risk-free returns rise $DXY 106.2 - USD/JPY 154.5, so perhaps assets signal #short fiat, or 'no landing' of higher inflation & debt funded economic growth + #Japan inflation March falls 2.7pc yoy - if you've borrowed more than triple your GDP and have falling inflation with rates at zero, do you have much room to lift rates? We already have USD / JPY 154, so looks like brewing curveball

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With effective #riskmanagement and capital allocation, Australia's carbon market can scale to become the biggest in the world, Westpac and the Carbon Market Institute (CMI) say. Driven by the #SafeguardMechanism, #ACCU demand will peak at 31 million units in 2033, says CMI, the member-based group targeting best practice in carbon markets and climate policy. The pair say Australia's #carbonmarket requires three innovations. Click the link below to read more: 👇 🔗 https://lnkd.in/gFURZbuu 💡🌱 Follow me and FS Sustainability for essential sustainability/ESG-related news, and keep on top of the trends and requirements in a fast-paced business landscape. Investor Group on Climate Change (IGCC) Erwin Jackson Climate Energy Finance Tim Buckley The Next Economy Amanda Cahill #esg #sustainability #sustainableinvesting #investment #sustainable #socialimpact #business #responsibleinvesting #responsibleinvestment #investing #financialservices #climatecrisis #climatechange #climate #netzero #news #breakingnews #climatenews #newsupdate #climatepolicy #renewableenergy #LinkedInTopVoices  #cleanenergy #greenhydrogen #rewiringthenation

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Don’t say private equity; say private capital.  New Zealand’s largest private company investor, Direct Capital, has inked three high-profile deals this year, including the acquisition of Wet & Forget, a home cleaning products company.  Directors Hugh Cotterill and Heath Kerr say that, unlike private equity leveraged buyouts, Direct Capital doesn’t heap debt on the businesses it invests in or strip out costs. They say one of the challenges for the founders they invest in is that Direct Capital often adds costs, including hiring staff, boosting management or investing in information technology.  Read more about how Direct Capital finds investments, and what it's looking for. 👇

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It’s easy to forget corporate activity is an important part of public markets and while it might be sad to see some firms depart the NZX Limited, with others I’m sure some investors will be counting their lucky stars. For every Diligent that rapidly accumulates value after shareholders sell out, there’s an Airwork Holdings Ltd that’s buffeted about by events beyond its control. The big issue at the moment, as Eden Bradfield pointed out last week in his excellent weekly newsletter (you should subscribe), there’s very little liquidity going on in the mid and small-cap space – something that seems ripe for the picking by some plucky upstart market maker (nudge nudge). Here’s my latest at BusinessDesk NZ. https://lnkd.in/gzxCksp7 

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