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1. Monday: ① Data: Chinas December RatingDog Services PMI; Switzerlands November Retail Sales YoY; Eurozones January Sentix Investor Confidence Index; UKs November Bank of England Mortgage Approvals; US December ISM Manufacturing PMI. ② Events: South Korean President Lee Jae-myung pays a state visit to China from January 4th to 7th, 2026; Minneapolis Fed President Kashkari, a 2026 FOMC voting member, speaks at the American Economic Association; the UN Security Council holds an emergency meeting on US military action against Venezuela. 2. Tuesday: ① Data: Frances December CPI (preliminary); France, Germany, Eurozone, and UKs December Services PMI (final); Germanys December CPI (preliminary); US December S&P Global Services PMI (final). ② Events: A new round of price adjustments for domestic refined oil products will begin; the 2026 Consumer Electronics Show (CES), dubbed the "Science and Technology Spring Festival," will be held in Las Vegas; South Korean President Lee Jae-myung will pay a state visit to China from January 4th to 7th, 2026; 2027 FOMC voting member and Richmond Fed President Barkin will deliver a speech. 3. Wednesday: ① Data: US API and EIA crude oil inventory data for the week ending January 2nd; Chinas December foreign exchange reserves; Australias November unadjusted CPI year-on-year rate; Germanys December seasonally adjusted unemployment figures and unemployment rate; Eurozones December preliminary CPI year-on-year rate and preliminary Eurozone December preliminary CPI month-on-month rate; US December ADP employment figures, US December ISM non-manufacturing PMI, US November JOLTs job openings, US December global supply chain stress index, and US October factory orders month-on-month rate. ② Events: The "Tech Spring Festival" - the 2026 Consumer Electronics Show (CES) - will be held in Las Vegas; South Korean President Lee Jae-myung will pay a state visit to China from January 4th to 7th, 2026. 4. Thursday: ① Data: UK December Halifax seasonally adjusted house price index (MoM); Switzerland December CPI (MoM); France November trade balance; Eurozone November PPI (MoM), Eurozone November unemployment rate, Eurozone December industrial sentiment index, Eurozone December economic sentiment index; US December Challenger job cuts, US initial jobless claims for the week ending January 3rd, US October trade balance, US October wholesale sales (MoM), US EIA natural gas storage for the week ending January 2nd. ② Events: The "Tech Spring Festival" - the 2026 Consumer Electronics Show (CES) - will be held in Las Vegas. 5. Friday: ① Data: US December New York Fed 1-year inflation expectations; China December CPI year-on-year rate; Germany November seasonally adjusted industrial production month-on-month rate, Germany November seasonally adjusted trade balance; France November industrial production month-on-month rate; Switzerland December seasonally adjusted unemployment rate; Eurozone November retail sales month-on-month rate; Canada December employment change; US December unemployment rate, US December seasonally adjusted non-farm payrolls, US December average hourly earnings year-on-year rate, US December average hourly earnings month-on-month rate, US October housing starts annualized rate, US October building permits, US January 1-year inflation rate expectations preliminary value, US January University of Michigan consumer sentiment index preliminary value. ② Events: The "Tech Spring Festival" 2026 Consumer Electronics Show (CES) was held in Las Vegas; 2026 FOMC voting member and Minneapolis Fed President Kashkari delivered a welcome speech and participated in informal talks at an online conference hosted by the bank. 6. Saturday: ① Data: Total number of oil rigs in the U.S. for the week ending January 9. ② Event: Richmond Fed President Barkin, a 2027 FOMC voting member, speaks on the economic outlook.JetBlue Airways: The Federal Aviation Administration has reopened Caribbean airspace, and we plan to resume normal operations.On January 4th, Unitree Robotics issued a statement clarifying that recent media reports regarding its IPO have been widely reprinted by various media outlets, online platforms, and independent media. Unitree Robotics stated that the reports content concerning the companys IPO process is inconsistent with the facts, and that Unitree Robotics has not applied for any "green channel" approval process. The statements assert that the reports misled the public and seriously infringed upon Unitree Robotics legitimate rights. Unitree Robotics has reported the matter to the relevant authorities and urged the retraction of the false reports. Unitree Robotics hereby solemnly declares that it reserves the right to pursue legal action. Currently, Unitree Robotics IPO process is progressing normally, and relevant updates will be disclosed in accordance with laws and regulations. Unitree Robotics thanks the public for their concern and support.Qatar Energy: Egypt and Qatar have reached an agreement to supply up to 24 liquefied natural gas (LNG) shipments by the summer of 2026.On January 4th, German Vice Chancellor and Finance Minister, and co-chairman of the Social Democratic Party, Heinz Klingbeer, stated that the US intervention in Venezuela was "very worrying." Klingbeer emphasized that the situation in Venezuela cannot justify disregarding international law, stating, "International law must be respected, and this applies to the actions of the United States." He stressed the need to prevent further escalation and urged all parties to "find a path to a peaceful democratic transition in Venezuela." He asserted that only the Venezuelan people can decide their own future. German Chancellor Merz stated on social media on January 3rd that "the legal assessment of US intervention is complex and requires careful consideration; international law remains the guiding framework," and that "political turmoil in Venezuela must be avoided at this stage."

After A Record Loss, Star Entertainment Raises $545 Million And Suspends Dividends

Skylar Williams

Feb 23, 2023 13:54

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Star Entertainment Group Ltd. announced that it would raise A$800 million ($545 million) to repay debt and suspend dividend payments, as it reported a record statutory loss for the first half of the year due to challenging business conditions in Sydney.


Star, Australia's second-largest casino operator, has seen its profits eroded by regulatory restrictions on its Sydney operations beginning in mid-September and intense competition from larger competitor Crown Resort, which began operations in Sydney in August.


The capital raising, which consists of a A$685 million 3-for-5 rights offer and a A$115 million institutional placement, will enable Star to repay debt and increase liquidity, the company announced Thursday. End of 2022, it had a net debt of A$1.11 billion.


Capital-raising shares are being sold at $1.20 each, which is 21% below Star's most recent closing price of $1.50.


Star stated that major shareholders Chow Tai Fook Enterprises and Far East Consortium have exercised their rights and committed $80 million to the capital raise.


Star reported a record statutory net loss after tax of A$1.26 billion for the six months ended December 31, compared to a loss of A$74,2 million a year earlier.


Star had previously warned of an impairment charge of up to A$1.6 billion in the first half as a result of a proposal by the New South Wales government to increase taxes on casino poker machine operators. Sydney is the state's capital.


Tax resolution with the New South Wales government remains the most important catalyst for investors, according to Jefferies analysts.


In the first half, the casino operator wrote down the goodwill of its Sydney casino from A$851 million to zero.


In an effort to reduce its debt, the company announced it would suspend dividend payments, and its casino licences were in full operation.


The company posted a normalised nett profit after taxes of $43,6 million, compared to A$73,7 million in losses in the prior year.


Thursday is a trading suspension for Star shares while the capital raise is in progress.