news

Monday, August 31

World

Trump says US will hit Iran ‘hard’ as conflict reignitesFT · 2m
Opinion | They Forget Who Started the WarWSJ · 50m
KKR is the rare private equity firm that bets on itselfFT · 1h
Trump says data centre critics ‘want to end up backwards and poor’FT · 1h
Lionel Messi announces retirement from international footballFT · 1h
Iceland’s Rejection of EU Keeps It a NATO Island Straddling U.S. and EuropeWSJ · 2h
Prediction platform Kalshi bans ex-US Congress member for manipulationFT · 2h
Israel’s de facto annexation of the West BankFT · 3h
Don’t write off Russia’s defence industry yetFT · 3h
Opinion | Let Ukraine Aim for the ArcherWSJ · 3h
Trump’s tariff fix leaves US trade policy in permanent fluxFT · 3h
Russia Turns to New-Generation Drones and All-Day Attacks to Wear Down UkrainiansWSJ · 3h
Whose fiscal problems would you prefer?FT · 4h
Kemi Badenoch sacks Mel Stride as shadow chancellorFT · 5h
India’s GDP beats growth forecast at 7.8%FT · 5h
Fighting Flares in Middle East After U.S. Strike on Iranian Rocket LaunchersWSJ · 5h
Sixty years of Notting Hill CarnivalFT · 6h
German Inflation Rises But Few Signs of Energy-Shock SpilloverWSJ · 6h
Spain’s Sánchez accuses Russia and Israel of inflaming migrant crisisFT · 6h
The Morning Risk Report: U.S. Hits Bank With ‘Outcast’ ActionWSJ · 7h
ChatGPT faces tougher rules under EU online safety regimeFT · 7h
KKR to net giant windfall from $17bn sale of USI to AonFT · 8h

KKR will receive a substantial windfall from the sale of USI to Aon, a transaction valued at $17 billion. The profit from the deal is described as one of the largest ever recorded by a publicly listed private‑equity firm on a single transaction.

UK offers homegrown AI start-ups £100mn to improve public servicesFT · 8h

The United Kingdom has announced a £100 million funding programme for domestic artificial‑intelligence start‑ups aimed at enhancing public‑service delivery. The scheme is being introduced as criticism grows over the government’s use of contracts with the U.S. software company Palantir. Officials say the investment will support home‑grown firms in developing AI solutions for areas such as health, education and local government, with the goal of reducing reliance on foreign technology providers. The move follows increasing public and parliamentary scrutiny of existing Palantir agreements.

The missing piece in Trump’s oil and gas boom: jobsFT · 9h
America’s Biggest Companies Ring Up Hefty Sales and Raise Their OutlooksWSJ · 9h
Nepal Focuses on Dangerous Tunnel Rescues as Flood Toll Tops 900WSJ · 9h
Honda and Nissan strike software deal despite failed mergerFT · 9h
Japan Targets Record Defense Spend as China Pressure GrowsWSJ · 9h
It’s not insider trading, it’s offshore gambling!FT · 10h

A recent commentary titled “It’s not insider trading, it’s offshore gambling!” examines the distinction between alleged insider trading and offshore gambling activities. The piece, summarized by the publisher as “To swap or not to swap,” explores the considerations involved in deciding whether to engage in such swaps. No further details are provided.

Japan’s bonds and yen under pressure after Warsh’s Jackson Hole speechFT · 11h
South Korea jails Unification Church leader over luxury bag bribery scandalFT · 11h
US and Iran exchange fire for the first time in more than a monthFT · 13h

U.S. forces hit Iranian rocket launchers on Larak Island in the Strait of Hormuz, marking the first American strike against Iran in more than a month. Tehran responded by firing missiles at Jordan, the first Iranian attack on the country in weeks. The exchange of fire prompted a rise in oil prices, as markets reacted to the heightened tension in the strategically vital waterway. Both sides have exchanged statements blaming the other for the escalation, but no further details on casualties or damage have been released.

China’s Biggest Airlines Post Over $1 Billion Loss in First Half as Fuel Shock BitesWSJ · 13h
Iceland tarnishes EU’s dreams of being a defence and security hegemonFT · 14h

Iceland has taken steps that undermine the European Union’s ambition to become a dominant force in defence and security, according to a recent report. The move is described as tarnishing the EU’s hopes of establishing hegemonic status in these areas. The newsletter also includes a separate item about packaging companies seeking relief.

FirstFT: Ukraine’s ex-defence minister pitches tech fundFT · 14h

Ukraine’s former defence minister has begun promoting a new technology fund aimed at supporting the country’s emerging tech sector. In related business news, artificial‑intelligence developments are reported to be boosting profits for major technology companies. Meanwhile, diplomatic tensions have escalated as the United States and Iran have exchanged hostile statements. The brief reflects a mix of economic initiatives and geopolitical friction highlighted in today’s newsletter.

Romania to lose €770mn in EU funds due to government crisisFT · 15h
China’s Official Activity Gauges Hint at Impending TurnaroundWSJ · 15h

China’s official activity gauges pointed to a possible turnaround, with output and market demand showing recovery in August. The data suggest that the manufacturing slowdown may have bottomed out in July, after which the sector began to improve. Observers noted that the August rebound could indicate the easing of the earlier decline in production and demand.

The Geopolitical Mismatch Driving Russia to Threaten the WestWSJ · 17h

European governments are bearing the financial burden of Ukraine’s war while also providing a secure operational base for Kyiv’s forces. This support is seen as counterbalancing Russia’s greater conventional firepower, creating a strategic disparity that Moscow perceives as a threat to the West. Analysts note that the mismatch between Europe’s economic and logistical assistance and Russia’s military capabilities underpins the Kremlin’s increasingly hostile rhetoric toward Western nations. The situation highlights how the alignment of financial aid and safe haven for Ukraine shapes the broader geopolitical tension between Russia and Europe.

The Summer That Scorched French Grapes, English Gardens—and Europe’s EconomyWSJ · 18h
Opinion | Trump Takes the Oil in VenezuelaWSJ · 22h
Opinion | Trump’s Great White Whale: CanadaWSJ · 23h

Business

FTC to File Lawsuit Alleging Amazon Deceived AdvertisersWSJ · 3m
Ex-Congressman George Santos Receives Kalshi’s First-Ever Lifetime BanWSJ · 6m
Private Equity Wants to Invest in College Sports. Some Schools Are Wary.NYT · 8m
Westinghouse Electric Wants to Ride a Nuclear Power Revival to an IPOWSJ · 26m
G20 Finance Officials Gather in U.S. as Iran War Grips Global EconomyNYT · 45m
KKR is the rare private equity firm that bets on itselfFT · 1h
The Rapid Expansion That Built Bally’s Is Now Under PressureWSJ · 1h
Trump says data centre critics ‘want to end up backwards and poor’FT · 1h
Pennsylvania’s A.I. Gold Rush Meets Second ThoughtsNYT · 2h
A $480,000-a-Year Pill Reflects a New Normal for Cancer DrugsNYT · 2h
Kalshi Permanently Bars George Santos From the PlatformNYT · 2h
Global Oil Price Rises to $90 a Barrel After U.S. and Iran Trade AttacksNYT · 2h
Auto & Transport Roundup: Market TalkWSJ · 2h
Prediction platform Kalshi bans ex-US Congress member for manipulationFT · 2h
Ernst & Young Is Giving $100 Million in Bonuses to Staff for ‘Human’ SkillsWSJ · 3h
Ernst & Young Is Giving $100 Million in Bonuses to Staff for ‘Human’ SkillsWSJ · 3h
Don’t write off Russia’s defence industry yetFT · 3h
Trump’s Venezuelan Oil Deal Relies on a Powerful and Divisive PartnerNYT · 4h

The administration plans to work with a private Venezuelan oil company that maintains close ties to the government, a partnership described as both powerful and divisive. The arrangement, highlighted in recent reporting, underscores the reliance of the Trump administration on a partner whose influence in Venezuela is significant yet controversial. Officials have indicated that the deal will involve cooperation with this firm, emphasizing its strategic importance while acknowledging the contentious nature of its connections to the country's leadership.

U.S. Start-Up and Saudi Arabia Form Data Center PartnershipNYT · 4h
High Debt and Rising Prices Catch Up to Trump, as Midterms NearNYT · 6h
How climate volatility shakes up companies’ earnings tooFT · 6h
Courting Consumers at the U.S. OpenWSJ · 6h
Happy birthday to the First Index Investment TrustFT · 6h

The First Index Investment Trust marked its anniversary, with the publisher encouraging observers to “witness the FIITnes.” No further details about the celebration or the trust’s activities were provided.

GameStop Sees Higher Profit as eBay Investment Offsets Lower SalesWSJ · 6h
Activist pushes EPAM Systems for buybacks as AI hits its sharesFT · 7h
SLB to Buy Data Center Cooling Firm Kelvion for $4.1 BillionWSJ · 7h
The Morning Risk Report: U.S. Hits Bank With ‘Outcast’ ActionWSJ · 7h
ChatGPT faces tougher rules under EU online safety regimeFT · 7h
ONEOK to Buy Brazos Midstream’s Permian Assets for $4.43 BillionWSJ · 7h

ONEOK announced plans to acquire Brazos Midstream’s natural‑gas gathering and processing assets in the Permian Midland Basin for $4.43 billion. The transaction will add the Texas‑based infrastructure to ONEOK’s existing portfolio, extending its presence in the Permian, one of the United States’ most active oil‑producing regions. The deal, valued at $4.43 billion, is aimed at strengthening ONEOK’s footprint in the prolific American oil hub.

Software companies pay steep price to buy time against AI threatFT · 8h
Companies Are Paying for Price Cuts With Their Tariff RefundsWSJ · 8h
El Niño Threatens to Disrupt Industries WorldwideWSJ · 8h
Aon Strikes Roughly $17 Billion Deal for Insurance Brokerage USIWSJ · 8h
KKR to net giant windfall from $17bn sale of USI to AonFT · 8h

KKR will receive a substantial windfall from the sale of USI to Aon, a transaction valued at $17 billion. The profit from the deal is described as one of the largest ever recorded by a publicly listed private‑equity firm on a single transaction.

UK offers homegrown AI start-ups £100mn to improve public servicesFT · 8h

The United Kingdom has announced a £100 million funding programme for domestic artificial‑intelligence start‑ups aimed at enhancing public‑service delivery. The scheme is being introduced as criticism grows over the government’s use of contracts with the U.S. software company Palantir. Officials say the investment will support home‑grown firms in developing AI solutions for areas such as health, education and local government, with the goal of reducing reliance on foreign technology providers. The move follows increasing public and parliamentary scrutiny of existing Palantir agreements.

Huawei Profit Slumps by a Third on R&D Expenses, Raw-Material CostsWSJ · 8h
Consultants head for an AI showdown — with their own clientsFT · 9h

Consulting firms including Accenture, Capgemini and the Big Four are facing heightened pressure as their corporate clients push for cost savings. The demand for tighter budgets is creating a showdown between the consultants and the companies that hire them. This dynamic reflects growing scrutiny of consulting fees and the need for demonstrable value.

The missing piece in Trump’s oil and gas boom: jobsFT · 9h
America’s Biggest Companies Ring Up Hefty Sales and Raise Their OutlooksWSJ · 9h
Companies Plow Tariff Refunds Into Price Cuts, Appealing to Stretched ConsumersWSJ · 9h
Nissan, Honda Team Up on Systems, SoftwareWSJ · 9h
Honda and Nissan strike software deal despite failed mergerFT · 9h
Don’t Count Shein Out Just YetWSJ · 9h
Can Apple’s New CEO Rev Up the Steve Jobs Innovation Engine?WSJ · 9h
A Half-Price Luxury E.V. Comes With a Big AsteriskNYT · 9h

Current incentives have reduced the effective price of the Polestar 4 by roughly fifty percent, prompting analysts to label the deal as a bargain relative to competing luxury EVs. The price cut stems from federal and state tax credits, dealer rebates and promotional financing, which together halve the sticker price. While the vehicle itself receives praise for its solid build and performance, the manufacturer, a Chinese‑owned brand, is confronting regulatory actions that are compelling it to withdraw from the United States market. Industry observers note that the discount may not offset the broader challenges the brand faces in securing a foothold amid heightened scrutiny of Chinese‑owned automotive firms.

Chinese Cars Could Be Huge in U.S., and That’s the Problem, Officials SayNYT · 10h
Andrew Bailey warns G20 of danger AI poses to financial systemFT · 12h

Andrew Bailey, chair of the Financial Stability Board, told G20 participants that emerging frontier artificial‑intelligence models pose a growing threat to the stability of the global financial system. He urged governments to adopt measures that would better control the development and deployment of such models, warning that they could amplify cyber‑attack risks, destabilise markets and contribute to asset‑price bubbles. Bailey’s comments were echoed in coverage by the Financial Stability Board, CNBC, the Wall Street Journal and other outlets, which highlighted his call for coordinated international action to mitigate AI‑related financial risks.

China’s Biggest Airlines Post Over $1 Billion Loss in First Half as Fuel Shock BitesWSJ · 13h
Jane Street’s AI bets go sourFT · 14h

Jane Street’s recent forays into artificial‑intelligence‑driven trading have reportedly yielded disappointing results, prompting concerns about the firm’s betting strategy. In related financial news, investors in the Woodford fund have expressed anger over recent developments, while the market for fund‑management deals continues to expand. Cultural coverage notes that works by the late painter Lucian Freud are currently on display in Denmark.

FirstFT: Ukraine’s ex-defence minister pitches tech fundFT · 14h

Ukraine’s former defence minister has begun promoting a new technology fund aimed at supporting the country’s emerging tech sector. In related business news, artificial‑intelligence developments are reported to be boosting profits for major technology companies. Meanwhile, diplomatic tensions have escalated as the United States and Iran have exchanged hostile statements. The brief reflects a mix of economic initiatives and geopolitical friction highlighted in today’s newsletter.

Scramble for gas assets pushes dealmaking to decade highFT · 15h

The scramble for gas assets is driving dealmaking to its highest level in a decade, as companies vie for a share of the market. Spending on projects in the United States has surged, reflecting the intensified competition. National oil companies and commodity traders are joining the rush, adding to the momentum behind acquisitions and investments in gas‑related assets. This heightened activity underscores the growing importance of gas in the energy landscape and the willingness of major players to commit substantial capital to secure future supplies.

UK investment trusts struggle to keep up the liquidity illusionFT · 15h
UK fintech Allica looks to Sweden to kick-start European expansionFT · 15h
Tim Cook’s Apple legacy by the numbersFT · 15h
The dawn of physical AIFT · 15h
After years of losses, Victoria Beckham marks her brand’s turnaroundFT · 15h
German gunmaker with loaded history sets sights on British army’s next rifleFT · 15h
London’s Aim market faces existential crisisFT · 15h
The $5.5 Billion Perk SoftBank’s Data-Center Venture Offered to Land OpenAIWSJ · 15h
Corporate America’s Profits Are Booming—and Signal More Good Times AheadWSJ · 18h
Corporate America’s Profits Are Booming—and Signal More Good Times AheadWSJ · 18h
Treasury Bars Some Reporters From G20 Finance MeetingNYT · 20h
Opinion | Trump Takes the Oil in VenezuelaWSJ · 22h

Markets & Economy

Trump says US will hit Iran ‘hard’ as conflict reignitesFT · 2m
Small Cap Full of 'Horrible' Cos.: PanitsasBBG · 7m
Major U.S. Stock Indexes Slip Amid Mideast Flare-UpWSJ · 14m
Look At Insider Trading To Find Value: SpearsBBG · 14m
Our Buyer ETF Base Has Expanded: AB's GuntsBBG · 19m
Active ETFs Gain Ground as Investors Focus on OutcomesBBG · 23m
COP/USD: Colombia’s 9.4% Deficit Rattles Wall Street, Peso Slumps 2.1%BBG · 25m
Westinghouse Electric Wants to Ride a Nuclear Power Revival to an IPOWSJ · 26m
Gold Slips Further on Renewal of Middle East Military StrikesWSJ · 32m
Trump Iran Reports 'Not Closely Connected' to Truth on the Ground, Says Retired GeneralBBG · 32m
Wells Fargo Says New Canada Steel Duties ‘For Show’ in Trade WarBBG · 1h
KKR is the rare private equity firm that bets on itselfFT · 1h
Grand Canyon Flash Flood Leaves Two Dead, 15 Others MissingBBG · 1h
Lilly to Buy Merida for $2.88 Billion in Autoimmune PushBBG · 1h
UBS Scores Interim Win in Struggle Against Swiss Capital DemandsBBG · 1h
Auto & Transport Roundup: Market TalkWSJ · 2h
Financial Services Roundup: Market TalkWSJ · 2h
Basic Materials Roundup: Market TalkWSJ · 2h
Tech, Media & Telecom Roundup: Market TalkWSJ · 2h
Prediction platform Kalshi bans ex-US Congress member for manipulationFT · 2h
Wells Fargo Says Canada's Steel Retaliation `Irrelevant'BBG · 3h
Trump’s Latest Tariffs: How He’s Keeping His Trade Wall in PlaceBBG · 3h
Dollar Set to Weaken for a Second Month on Treasury BuybackBBG · 3h
Bessent Spoke With Druckenmiller After Mentor Criticized HimBBG · 3h
Opinion | The Quiet Bond Risk of Bloated State SpendingWSJ · 4h
A Hedge-Fund Titan’s Divorce Is Putting Wall Street’s Staggering Wealth on Public ViewWSJ · 4h
Chile Economic Data Disappoint as Storms Add to Copper-Mine WoesBBG · 4h
Treasury Market Selloff Sends 10-Year Yield to 19-Month HighBBG · 5h
PG&E, Edison International Stocks Plunge on California Wildfire BillBBG · 5h

Shares of PG&E Corp., Edison International and Sempra fell on Monday after California lawmakers advanced wildfire legislation that analysts deemed unfavorable. The policy proposal sparked a wave of analyst downgrades across the three utilities, prompting the market sell‑off.

U.S. Natural Gas Futures Start Week LowerWSJ · 6h
Nigeria Economy Grows at Fastest Pace in Five Years on Oil BoomBBG · 6h
India’s Uneven Monsoon Rains Deepen Crop and Inflation RisksBBG · 6h
Happy birthday to the First Index Investment TrustFT · 6h

The First Index Investment Trust marked its anniversary, with the publisher encouraging observers to “witness the FIITnes.” No further details about the celebration or the trust’s activities were provided.

Oil Gains After First U.S. Strikes in Weeks on Iranian TargetsWSJ · 6h
GameStop Sees Higher Profit as eBay Investment Offsets Lower SalesWSJ · 6h
Czechs Plan Second-Highest Budget Gap Ever to Boost InvestmentBBG · 6h
German Inflation Edges Higher, Adding to Case for ECB HikeBBG · 6h
Warsh Takes a Page From Aerospace Pioneers to Find the Right StuffBBG · 7h
Software companies pay steep price to buy time against AI threatFT · 8h
Bessent and G20 finance ministersBBG · 8h
Aon Strikes Roughly $17 Billion Deal for Insurance Brokerage USIWSJ · 8h
Aon Strikes Roughly $17 Billion Deal for Insurance Brokerage USIWSJ · 8h
Kenyan Inflation Rate Rises Faster Than Expectations in AugustBBG · 8h
U.S. Dollar RetreatsWSJ · 8h
India Growth Beats Forecasts, Raises Rate Hike ExpectationsBBG · 8h
KKR to net giant windfall from $17bn sale of USI to AonFT · 8h

KKR will receive a substantial windfall from the sale of USI to Aon, a transaction valued at $17 billion. The profit from the deal is described as one of the largest ever recorded by a publicly listed private‑equity firm on a single transaction.

The Index-Fund Strategy Quietly Beating Big Tech This YearWSJ · 8h
The missing piece in Trump’s oil and gas boom: jobsFT · 9h
Don’t Count Shein Out Just YetWSJ · 9h
Bessent Takes US Growth Agenda Message to G20 Summit in AshevilleBBG · 9h
Japan Seeks Record Defense Budget as Takaichi Plans BuildupBBG · 10h
It’s not insider trading, it’s offshore gambling!FT · 10h

A recent commentary titled “It’s not insider trading, it’s offshore gambling!” examines the distinction between alleged insider trading and offshore gambling activities. The piece, summarized by the publisher as “To swap or not to swap,” explores the considerations involved in deciding whether to engage in such swaps. No further details are provided.

Japan’s bonds and yen under pressure after Warsh’s Jackson Hole speechFT · 11h
Stock Market Today: Oil Climbs on Fresh Mideast Flare-UpWSJ · 11h
Turkey Growth Quickens in Second Quarter Despite War StressBBG · 11h
Japan’s Industry Ministry Seeks Unprecedented $49 Billion BudgetBBG · 12h
G20 Warned Of Growing Threat to Financial Stability Posed By New AI ModelsWSJ · 12h
Andrew Bailey warns G20 of danger AI poses to financial systemFT · 12h

Andrew Bailey, chair of the Financial Stability Board, told G20 participants that emerging frontier artificial‑intelligence models pose a growing threat to the stability of the global financial system. He urged governments to adopt measures that would better control the development and deployment of such models, warning that they could amplify cyber‑attack risks, destabilise markets and contribute to asset‑price bubbles. Bailey’s comments were echoed in coverage by the Financial Stability Board, CNBC, the Wall Street Journal and other outlets, which highlighted his call for coordinated international action to mitigate AI‑related financial risks.

Emerging-Market Stocks Head for Best August Since 2004BBG · 13h
Jane Street’s AI bets go sourFT · 14h

Jane Street’s recent forays into artificial‑intelligence‑driven trading have reportedly yielded disappointing results, prompting concerns about the firm’s betting strategy. In related financial news, investors in the Woodford fund have expressed anger over recent developments, while the market for fund‑management deals continues to expand. Cultural coverage notes that works by the late painter Lucian Freud are currently on display in Denmark.

Productores del Mercosur temen competencia de EuropaBBG · 14h
South American Producers Fret Over New Rivals From EU Trade DealBBG · 14h
Bessent Says He’ll Ask G20 to Rethink Trade Terms With ChinaBBG · 14h
Scramble for gas assets pushes dealmaking to decade highFT · 15h

The scramble for gas assets is driving dealmaking to its highest level in a decade, as companies vie for a share of the market. Spending on projects in the United States has surged, reflecting the intensified competition. National oil companies and commodity traders are joining the rush, adding to the momentum behind acquisitions and investments in gas‑related assets. This heightened activity underscores the growing importance of gas in the energy landscape and the willingness of major players to commit substantial capital to secure future supplies.

UK investment trusts struggle to keep up the liquidity illusionFT · 15h
Will financial innovation dethrone the dollar?FT · 15h
UK fintech Allica looks to Sweden to kick-start European expansionFT · 15h
Crypto groups spend record $640mn buying back their own tokensFT · 15h
London’s Aim market faces existential crisisFT · 15h
Long-term investors turn to shipping as Middle East conflict boosts returnsFT · 15h

Asset managers say institutional investors are increasingly looking to shipping as a hard‑asset exposure. The interest is linked to higher returns that have followed the conflict in the Middle East, prompting long‑term investors to shift toward the sector.

Yen Breach of 160 Revives Japan Intervention Watch Ahead of BOJBBG · 16h
Cinven private equity co-heads on mis-steps: ‘Let’s move on’FT · 16h
China’s Factory Rebound Masks Growth Risks for Domestic EconomyBBG · 17h
The Sudden Unraveling of Wall Street’s Momentum TradeWSJ · 18h
High-End Credit Cardholders Find It’s Harder to Get Their Money’s WorthWSJ · 18h
Alejandro Betancourt: the man who would be Trump’s ‘viceroy’ in VenezuelaFT · 18h

The United States has enlisted Alejandro Betancourt, described as a wily and divisive insider, to assist in developing Venezuela’s oil reserves. Media reports refer to him as the figure who could serve as President Trump’s “viceroy” in the country. The move reflects Washington’s effort to influence Venezuela’s energy sector.

Nikkei Falls 2.2%, Dragged by Chip StocksWSJ · 18h
Gold Slips as Renewed Mideast Tensions Keep Fed Hike Bets AliveBBG · 19h
Stocks Fall as US-Iran Strikes Spur Rally in Oil: Markets WrapBBG · 20h
Opinion | The Dollar’s Global Dominance Keeps America FirstWSJ · 23h

Tech

FTC to File Lawsuit Alleging Amazon Deceived AdvertisersWSJ · 3m
FTC to File Lawsuit Alleging Amazon Deceived AdvertisersWSJ · 3m
Trump says data centre critics ‘want to end up backwards and poor’FT · 1h
Trump Says Communities That Oppose Data Centers Risk Becoming ‘Backwards and Poor’WSJ · 2h
Ernst & Young Is Giving $100 Million in Bonuses to Staff for ‘Human’ SkillsWSJ · 3h
Don’t write off Russia’s defence industry yetFT · 3h
Opinion | Let Ukraine Aim for the ArcherWSJ · 3h
The politics of data centresFT · 6h
The AI Boom May Resemble Social Media More than TelecomWSJ · 6h
Activist pushes EPAM Systems for buybacks as AI hits its sharesFT · 7h
Eli Lilly to Buy Merida Biosciences for Up to $2.875 BillionWSJ · 7h
ChatGPT faces tougher rules under EU online safety regimeFT · 7h
Software companies pay steep price to buy time against AI threatFT · 8h
UK offers homegrown AI start-ups £100mn to improve public servicesFT · 8h

The United Kingdom has announced a £100 million funding programme for domestic artificial‑intelligence start‑ups aimed at enhancing public‑service delivery. The scheme is being introduced as criticism grows over the government’s use of contracts with the U.S. software company Palantir. Officials say the investment will support home‑grown firms in developing AI solutions for areas such as health, education and local government, with the goal of reducing reliance on foreign technology providers. The move follows increasing public and parliamentary scrutiny of existing Palantir agreements.

Consultants head for an AI showdown — with their own clientsFT · 9h

Consulting firms including Accenture, Capgemini and the Big Four are facing heightened pressure as their corporate clients push for cost savings. The demand for tighter budgets is creating a showdown between the consultants and the companies that hire them. This dynamic reflects growing scrutiny of consulting fees and the need for demonstrable value.

What CEOs Can Learn From the AI BacklashWSJ · 9h
Can Apple’s New CEO Rev Up the Steve Jobs Innovation Engine?WSJ · 9h
Can Apple’s New CEO Rev Up the Steve Jobs Innovation Engine?WSJ · 9h
G20 Warned Of Growing Threat to Financial Stability Posed By New AI ModelsWSJ · 12h
G20 Warned Of Growing Threat to Financial Stability Posed By New AI ModelsWSJ · 12h
Andrew Bailey warns G20 of danger AI poses to financial systemFT · 12h

Andrew Bailey, chair of the Financial Stability Board, told G20 participants that emerging frontier artificial‑intelligence models pose a growing threat to the stability of the global financial system. He urged governments to adopt measures that would better control the development and deployment of such models, warning that they could amplify cyber‑attack risks, destabilise markets and contribute to asset‑price bubbles. Bailey’s comments were echoed in coverage by the Financial Stability Board, CNBC, the Wall Street Journal and other outlets, which highlighted his call for coordinated international action to mitigate AI‑related financial risks.

Tim Cook’s Apple legacy by the numbersFT · 15h
The dawn of physical AIFT · 15h
The $5.5 Billion Perk SoftBank’s Data-Center Venture Offered to Land OpenAIWSJ · 15h
Opinion | A New Look at the UniverseWSJ · 23h

Deal Flow

M&A / Strategic

US will take 55% control of a new Venezuela oil JV that comprises 20% of the country's entire oil reserves, including a 35% passive stake in Venezuelan businessman Alejandro Betancourt's North American Blue Energy Partners8h
Aon is close to acquiring insurance brokerage USI Insurance Services from KKR for $17B, including debt8h
Italian insurance giant Generali is willing to consider a $10.2B takeover offer for wealth manager Banca Generali from lender BMPS8h
Pipeline operator Oneok and minority investor Apollo will acquire Brazos Midstream Holdings' natural gas operations in West Texas for $9B, including $5B of debt to be paid off8h
EQT and German insurance giant Allianz are exploring a $6.8B takeover of UK roadside recovery business The AA8h
Astorg Partners and Montagu Private Equity are exploring a $3.5B sale of GLP-1 pen maker Nemera8h
Authentic Brands Group acquired a 51% majority stake in the IP of Drake's lifestyle brand OVO at a ~$235M valuation8h
Airbus is considering a sale of its US small-satellite manufacturing business8h
Valterra Platinum made an informal approach to rival South African miner Northam Platinum8h

Valterra Platinum has made an informal approach to Northam Platinum, a South African miner that controls nearly one million ounces of platinum output and is valued at roughly $7.6 billion. The outreach, described as a “mystery” bid in industry reports, signals interest in a potential partnership or acquisition. Northam’s chief executive has previously said the country could “go platinum,” underscoring the strategic importance of the sector to South Africa’s economy. No further details on the terms of Valterra’s proposal have been disclosed.

Polish energy group Unimot ended talks to acquire Shell's stake in Germany's Russia-linked Schwedt refinery8h

VC

HubX, an AI-focused company building next-gen apps, raised $75M at a $1.2B pre-money valuation from Point72 Private Investments8h
Viral AI assistant startup Instinct raised a $250M Series B at a $2.5B valuation co-led by Index Ventures and Benchmark8h
Owner, an AI platform for local businesses, raised a $240M Series D at a $2.3B valuation led by Goldman Sachs Alternatives8h
Linear, a product development and issue-tracking platform, sold $99M of secondary shares at a $2.5B valuation with participation from Accel, 01A, Salesforce Ventures, and S328h
Retro, a friend-focused photo-sharing app, raised a $21M Series A8h

Retro, a photo‑sharing app that emphasizes connections among friends, announced it has secured $21 million in a Series A financing round. The capital will be used to support the company’s growth and product development.

IPOs / Listings / Issuances / Block Trades

Samsung Biologics is seeking to raise $2.2B in a rights offering to fund its acquisition of Swiss contract drugmaker PolyPeptide Group8h
Blackstone is offering to sell a 25% stake worth $1.25B in Indian office REIT Knowledge Realty Trust at a 5% discount and 13% discount to NAV8h
Indian conglomerate Tata Group is in talks with biggest minority shareholder Shapoorji Pallonji Group to unlock liquidity via a potential swap of shares of listed entities, a buyout of Shapoorji Pallonji's stake by Tata Sons, or a sale to an external investor8h
Hyperinflammation-focused Electra Therapeutics filed for an IPO8h

SPAC / SPV

Satellite-to-device broadcast network firm Astrum Space will merge with Black Spade Acquisition at a $1B valuation8h

Debt

Broadcom could raise over $100B in debt for an AI chip financing deal for Anthropic and others in a record-shattering deal8h
Indian billionaire owner PV Krishna Reddy is seeking to raise $700M in private credit from Davidson Kempner, Elham, and Varde Partners to buy out his uncle's 43% stake in Megha Engineering & Infrastructures to take full ownership8h

Bankruptcy / Restructuring / Distressed

Major Aussie developer Bathla Group fell into insolvency with $2.4B owed to mostly private credit firms8h

Australian property developer Bathla Group has entered insolvency, with liabilities reported at about $2.4 billion. The bulk of the debt is owed to private credit firms rather than traditional banks. The insolvency filing signals that the company, a notable player in the Australian construction sector, is unable to meet its financial obligations and will now be subject to a formal restructuring process overseen by courts and insolvency practitioners. Creditors are expected to file claims as the administration proceeds.

UK asset manager Aberdeen will take a $272M hit to one of its infrastructure funds following the collapse of UK broadband provider Airband8h
AI-driven biopharma firm BioXcel Therapeutics filed for Chapter 11 bankruptcy8h

Funds / Secondaries

Developer Crow Holdings raised $625M for a targeted $3.25B fund8h
Copenhagen Infrastructure Partners raised $3B for its second Growth Markets Fund8h
a16z raised $1.1B for Machine Age, its first dedicated AI hardware infrastructure fund8h
European royal family office LGT Capital Partners raised $1B for its seventh European small buyout fund8h
Industrials MM PE firm GenNx360 Capital Partners raised $865M for its fourth fund8h
Investment firm Crestline Management raised $625M for its second European Capital Solutions fund8h
Distressed real estate investor Canyon Partners raised $570M for its latest opportunistic fund8h
Private markets investment firm Siguler Guff raised $500M for its second India MM growth fund8h
OpenAI launched a second $400M VC fund to invest its own capital8h
Opportunistic real estate investor Machine Investment Group raised $350M for its second fund8h
Reach Capital raises $265M for its fifth fund to expand on its "human potential" theme8h
Gaming specialist Makers Fund raised $250M for its fourth flagship fund8h
Opportunistic PE real estate firm Alpaca Real Estate raised $223M for its debut fund8h
Canada's Polar Asset Management raised $215M for its second SRT fund8h
MassMutual Ventures, the VC arm of insurer MassMutual, launched a $150M second climate fund which will incorporate AI and real assets8h
VC Floating Point raised $125M for its third fund to tackle "real world" businesses8h
Palinuro Capital, the macro hedge fund of ex-ING trader Alfonso Peccatiello, raised $75M in fresh capital to take AUM past $100M8h
Ukraine's ex-defense minister Mykhailo Fedorov is seeking to raise a defense tech fund from US investors to back startups that will help defeat Russia8h

Reforma

Renueva CSP con gasolineros tope a preciosNacional · 1h
Pide 81% de maestros regular celulares en escuelasNacional · 4h

Según la Secretaría de Educación Pública (SEP), el 81 % de los 565 396 docentes que participaron en una encuesta respaldó la propuesta de establecer lineamientos para regular el uso de teléfonos celulares en los planteles escolares. La encuesta, realizada por la SEP, buscaba recabar la opinión del magisterio sobre la presencia de dispositivos móviles en el entorno educativo. Con estos resultados, la autoridad educativa indica que cuenta con el apoyo mayoritario de los maestros para avanzar en la normativa correspondiente próximamente.

Apuntan a CJNG como autor de coche-bomba en ZacatecasNacional · 4h
Arranca plan de salud mental tras violencia en escuelasNacional · 4h

Tras una serie de ataques registrados en planteles escolares, la CSP ha puesto en marcha el programa “El ABC de las emociones”, orientado a la salud mental de los estudiantes. El plan contempla la realización de actividades específicas dentro de las escuelas, con el objetivo de abordar y prevenir situaciones de violencia mediante el fortalecimiento de habilidades emocionales. La iniciativa busca proporcionar herramientas que favorezcan el bienestar psicológico de los alumnos y crear un entorno educativo más seguro.

Van por empresarios del caso SegalmexPortada · 7h