news

Sunday, August 30

World

US and Iran exchange fire for the first time in more than a monthFT · 2m
Romania to lose €770mn in EU funds due to government crisisFT · 16m
Darializa Avila Chevalier: The face of America’s socialist insurgencyFT · 16m
Will financial innovation dethrone the dollar?FT · 16m
Labour shelves plan to restrict foreigners buying new flatsFT · 16m
Tim Cook’s legacy by the numbersFT · 16m
Can robots save US manufacturing?FT · 16m
Argentina battles flood of contraband goods as Milei opens economyFT · 16m
Trump’s threats against Canada are self-defeatingFT · 16m
German gunmaker with loaded history sets sights on British army’s next rifleFT · 16m
London’s Aim market faces existential crisisFT · 16m
Long-term investors turn to shipping as Middle East conflict boosts returnsFT · 16m
Mainland Europe seizes edge in global student raceFT · 16m
The island that built LondonFT · 16m
Banks and insurers brace for biggest German pension upheaval in 20 yearsFT · 16m
China’s Official Activity Gauges Hint at Impending TurnaroundWSJ · 32m
The Geopolitical Mismatch Driving Russia to Threaten the WestWSJ · 2h
Taliban makes overtures to Trump administration over mineral dealsFT · 2h
Fighting Flares in Middle East After U.S. Strike on Iranian Rocket LaunchersWSJ · 3h
The Summer That Scorched French Grapes, English Gardens—and Europe’s EconomyWSJ · 3h
Alejandro Betancourt: the man who would be Trump’s ‘viceroy’ in VenezuelaFT · 3h
Nepal rescue effort intensifies with more than 3,000 missingFT · 5h
Ukraine’s ex-defence minister touts ‘new history’ in war against Russia with planned tech fundFT · 7h
Brexiters’ effort to resettle Chagos Islands hit by lack of proper boatFT · 8h
Opinion | Trump Takes the Oil in VenezuelaWSJ · 8h
Opinion | Trump’s Great White Whale: CanadaWSJ · 8h
Big Tech profits get $160bn boost from gains on stakes in other AI companiesFT · 9h
Opinion | America’s Systemic Munitions ShortfallWSJ · 9h
Niger regains control of military base after coup attemptFT · 9h
Canadian Small Businesses to Bear Brunt of New U.S. TariffsWSJ · 10h
Return of the politiciansFT · 11h
Opinion | Trump’s New Iran Sanctions Put China on NoticeWSJ · 11h
Americans feel they have lost their agencyFT · 13h
Young Women Bear the Brunt of India’s Anti-Protester VitriolWSJ · 13h
Opinion | The High Cost of Cheaper StealWSJ · 13h
Claridge’s operator bets on US and UK visitors to offset Middle EastFT · 13h
Opinion | Kyiv and George WashingtonWSJ · 13h
Icelanders Reject EU-Membership TalksWSJ · 13h

Icelandic voters have turned down proposals to begin talks on European Union membership, the national broadcaster reported. The decision came as the public weighed the country’s security outlook following former U.S. President Donald Trump’s remarks that he would like to acquire Greenland. Officials said the poll reflected concerns about how EU accession might affect Iceland’s strategic position in the North Atlantic, especially in light of the heightened attention to the region sparked by Trump’s comments. No further steps toward negotiations are planned at this time.

Putin Turns Again to China’s Xi as Russia’s Clout CrumblesWSJ · 17h

Russian President Vladimir Putin and Chinese President Xi Jinping are scheduled to meet on Monday in Kyrgyzstan. Observers note that the changing influence of both leaders will dominate discussions at the summit. The encounter comes as Russia’s international standing appears to be waning.

Nearly 770 Dead in Devastating Nepal, Tibet FloodsWSJ · 17h
One of Asia’s Most Liveable Cities Tackles a New Threat: CicadasWSJ · 18h

Singapore, long celebrated for its ruthless efficiency, is now confronting an unexpected nuisance: a massive influx of cicadas. Officials report that tens of thousands of the loud, clumsy insects have appeared, presenting a new challenge for the city‑state’s typically well‑ordered environment. While the government’s track record suggests a swift response, the sheer volume of the bugs has tested its capacity to maintain the usual standards of order and comfort. The situation highlights how even highly organized urban centers can be unsettled by natural phenomena.

Business

Scramble for gas assets pushes dealmaking to decade highFT · 16m
UK investment trusts struggle to keep up the liquidity illusionFT · 16m
UK fintech Allica looks to Sweden to kick-start European expansionFT · 16m
Tim Cook’s legacy by the numbersFT · 16m
Can robots save US manufacturing?FT · 16m
After years of losses, Victoria Beckham marks her brand’s turnaroundFT · 16m
German gunmaker with loaded history sets sights on British army’s next rifleFT · 16m
London’s Aim market faces existential crisisFT · 16m
Long-term investors turn to shipping as Middle East conflict boosts returnsFT · 16m
Banks and insurers brace for biggest German pension upheaval in 20 yearsFT · 16m
AI’s threat to consultingFT · 16m
The $5.5 Billion Perk SoftBank’s Data-Center Venture Offered to Land OpenAIWSJ · 21m
Cinven private equity co-heads on mis-steps: ‘Let’s move on’FT · 1h
Corporate America’s Profits Are Booming—and Signal More Good Times AheadWSJ · 3h
Treasury Bars Some Reporters From G20 Finance MeetingNYT · 5h
Ukraine’s ex-defence minister touts ‘new history’ in war against Russia with planned tech fundFT · 7h
Opinion | Trump Takes the Oil in VenezuelaWSJ · 8h
Big Tech profits get $160bn boost from gains on stakes in other AI companiesFT · 9h
Aon Nears Roughly $17 Billion Deal for Insurance Brokerage USIWSJ · 12h
Trump Says U.S. Struck Deal for Control of More Than 65 Billion Barrels of Venezuela’s OilNYT · 13h

President Donald Trump announced that the United States has reached an agreement with Venezuela that gives the two countries control over more than 65 billion barrels of Venezuelan oil reserves. He said the deal covers the extensive reserves and will be implemented through a partnership that includes a private company, according to a U.S. official who briefed the press. The official did not disclose the name of the private firm or provide further details about the terms of the arrangement. No additional information about the timeline or operational aspects of the partnership was released.

These Tanks Can Hold 90 Million Barrels of Oil. They Have Just 22 Million.NYT · 13h
Americans feel they have lost their agencyFT · 13h
U.A.E. To Review Banque Misr, Targeted by Iran SanctionsNYT · 13h
Claridge’s operator bets on US and UK visitors to offset Middle EastFT · 13h
Car Sunroofs Keep ‘Spontaneously’ Exploding—and the Problem Is Getting WorseWSJ · 14h
Car Sunroofs Keep ‘Spontaneously’ Exploding—and the Problem Is Getting WorseWSJ · 14h
Controversial Venezuelan executive courts investors after Trump oil dealFT · 16h
Meta’s settlement is a starting pointFT · 16h
The World’s Drinks Order Is In. Distillers Were Expecting More.WSJ · 16h
A Mortgage Servicer Sent a Letter About an Address Change. Was It Deed Theft?NYT · 16h
The College Enrollment Crisis Is Coming for Bigger SchoolsWSJ · 17h
The Midwestern Burger Chain That’s Going Full MAGAWSJ · 17h

Steak ’n Shake, a Midwestern burger chain, has drawn notice for what observers describe as a shift toward a “full MAGA” stance. The company’s latest strategy centers on menu changes that emphasize beef tallow and grass‑fed beef. Management says the move is intended to attract diners and lift sales, banking on consumer interest in these ingredients. The approach reflects an effort to reposition the brand amid competitive pressures in the fast‑food market.

The Midwestern Burger Chain That’s Going Full MAGAWSJ · 17h

Steak ’n Shake, a Midwestern burger chain, has drawn notice for what observers describe as a shift toward a “full MAGA” stance. The company’s latest strategy centers on menu changes that emphasize beef tallow and grass‑fed beef. Management says the move is intended to attract diners and lift sales, banking on consumer interest in these ingredients. The approach reflects an effort to reposition the brand amid competitive pressures in the fast‑food market.

‘New York loves Canada’: US cities want their Canadian tourists backFT · 18h
Pharma stocks soar as investors seek AI alternativesFT · 18h
A Texas Banking Billionaire and His Children Are Locked in a Bitter Succession DramaWSJ · 18h

Billionaire Gerald J. Ford and his children are engaged in a contentious battle over control of Hilltop Holdings, the $2 billion financial‑services firm the family built. The dispute, described as a bitter succession drama, pits the founder against his offspring as each side seeks to influence the company’s leadership and future direction. Hilltop Holdings, headquartered in Texas, has become the focal point of the family’s internal struggle, with the outcome likely to shape the firm’s governance and ownership structure. No resolution has been reported as the parties continue their fight for control.

A Texas Banking Billionaire and His Children Are Locked in a Bitter Succession DramaWSJ · 18h

Billionaire Gerald J. Ford and his children are engaged in a contentious battle over control of Hilltop Holdings, the $2 billion financial‑services firm the family built. The dispute, described as a bitter succession drama, pits the founder against his offspring as each side seeks to influence the company’s leadership and future direction. Hilltop Holdings, headquartered in Texas, has become the focal point of the family’s internal struggle, with the outcome likely to shape the firm’s governance and ownership structure. No resolution has been reported as the parties continue their fight for control.

The Case of the Truly Incorrigible Cubicle YakkerNYT · 19h
Help Wanted: ‘Forward-Deployed’ Humans for the A.I. EraNYT · 19h

Start-ups are borrowing the military phrase “forward‑deployed” to describe roles that involve direct interaction with customers. The terminology is being used to cast customer‑facing positions in a more heroic light as businesses look for staff to assist clients in installing and configuring artificial‑intelligence applications. Companies say the label reflects the on‑site, proactive support required to integrate AI tools into client operations. The trend highlights a shift in hiring language as the AI sector expands.

Pennsylvania Gambling Addicts Hope that ‘Skill Games’ Will Go BustNYT · 19h
CEO of India’s largest private bank to step downFT · 22h

Markets & Economy

The $5.5 Billion Perk SoftBank’s Data-Center Venture Offered to Land OpenAIWSJ · 21m
Yen’s Breach of 160 to Dollar Puts Traders on Intervention WatchBBG · 1h
Chinese Chipmaker Longsys Seeks $800 Million in HK ListingBBG · 1h
India’s Closing Auction Faces $5 Billion MSCI Reshuffle TestBBG · 1h
Gold Declines; Pullback Could Be Due to Profit-TakingWSJ · 1h
Itochu Set to Take Dentsu Soken Private in $1.3 Billion DealBBG · 1h
GPIF Would Be Justified in Buying More Japan Bonds, Analysts SayBBG · 2h
Baht, Rupiah Seem Particularly Exposed to Rise in Fed Rate-Hike ProspectsWSJ · 2h
Shein at $26 Billion Still Stirs Unease Over Growth OutlookBBG · 2h
South Korea’s Lee Picks New Finance Chief in Surprise ReshuffleBBG · 2h
China’s Factory Activity Extends Slump Even as Gauge RisesBBG · 2h
US Strikes Iranian Rocket LaunchersBBG · 2h
Thailand Plans Closer Gold Market Supervision to Curb MisuseBBG · 2h
Indian Billionaire Taps $700 Million Private Credit for Megha BuyoutBBG · 3h
The Sudden Unraveling of Wall Street’s Momentum TradeWSJ · 3h
High-End Credit Cardholders Find It’s Harder to Get Their Money’s WorthWSJ · 3h
MSCI Rebalancing Threatens to Turn ‘Messy’ in New Indian AuctionBBG · 3h
Alejandro Betancourt: the man who would be Trump’s ‘viceroy’ in VenezuelaFT · 3h
Bessent Expects BOJ to ‘Do the Right Thing’ on PolicyBBG · 3h
Grand Canyon Flash Flood Leaves at Least 15 MissingBBG · 3h
Nikkei Falls 2.2%, Dragged by Chip StocksWSJ · 3h
Japan’s Factory Output Edges Up Despite Mideast HeadwindsBBG · 4h
Gold Extends Decline as Warsh Speech Raises Fed Rate-Hike BetsBBG · 4h
Oil Rises Amid Renewed Fighting in Middle EastWSJ · 4h
Shein Set for Long-Awaited Hong Kong IPO DebutBBG · 5h
Taiwan’s Top Regulator Wants to Wean Taiwan’s Insurers Off US Dollar DependenceBBG · 5h
Trump’s Iran War Sets Test for Xi and Putin’s Security ClubBBG · 5h
Asian Stocks Drop on Fed Rate-Hike Bets, Oil Gains: Markets WrapBBG · 6h
Latest Oil Market News and Analysis for Aug. 31BBG · 6h
US Treasury Bars Reporters From Some Outlets From G20 SummitBBG · 6h
Japan’s NYK CEO on Alternative Routes Amid Iran WarBBG · 7h
Australian Dollar’s Top Forecasters Say Winning Run Likely OverBBG · 7h
Opinion | The Dollar’s Global Dominance Keeps America FirstWSJ · 8h
Big Tech profits get $160bn boost from gains on stakes in other AI companiesFT · 9h
Opinion | Trump’s New Iran Sanctions Put China on NoticeWSJ · 11h
Aon Nears Roughly $17 Billion Deal for Insurance Brokerage USIWSJ · 12h
India and Uzbekistan Seek $5 Billion in Bilateral Trade by 2030BBG · 15h
Controversial Venezuelan executive courts investors after Trump oil dealFT · 16h
The World’s Drinks Order Is In. Distillers Were Expecting More.WSJ · 16h
The College Enrollment Crisis Is Coming for Bigger SchoolsWSJ · 17h
German Finance Minister to Press G20 on Iran War, Trade FightsBBG · 17h
Pharma stocks soar as investors seek AI alternativesFT · 18h
A Texas Banking Billionaire and His Children Are Locked in a Bitter Succession DramaWSJ · 18h

Tech

The $5.5 Billion Perk SoftBank’s Data-Center Venture Offered to Land OpenAIWSJ · 21m
FirstFT: Big Tech profits get $160bn windfall from stakes in other AI companiesFT · 6h
Opinion | A New Look at the UniverseWSJ · 8h
Big Tech profits get $160bn boost from gains on stakes in other AI companiesFT · 9h
Americans feel they have lost their agencyFT · 13h
Meta’s Day of ReckoningWSJ · 13h
Meta’s settlement is a starting pointFT · 16h
Employers Are Making Job Candidates Jump Through Hoops to Prove They’re RealWSJ · 18h
Employers Are Making Job Candidates Jump Through Hoops to Prove They’re RealWSJ · 18h

Deal Flow

M&A / Strategic

US is in talks with Venezuela to take a major stake in oil fields3d
PE firm Advent and payments fintech Stripe abandoned their $50B take-private of PayPal3d

Private‑equity firm Advent and payments fintech Stripe have withdrawn their proposal to take PayPal private in a deal valued at about $50 billion. The abandonment ends the discussions that had been reported around the potential transaction. No further details on the parties’ next steps were provided.

UK consumer goods giant Unilever will sell its Colman's mustard brand to resolve antitrust concerns amid a $45B merger of its food business with McCormick3d
Solstice Advanced Materials and Element Solutions mutually terminated their $14.5B merger3d
Apollo will acquire a co-controlling stake in private jet fixed-base operator Atlantic Aviation from KKR at a $10B valuation3d

Apollo is set to acquire a co‑controlling stake in private‑jet fixed‑base operator Atlantic Aviation from KKR. The transaction values Atlantic Aviation at $10 billion. Under the deal, Apollo will obtain a share that gives it joint control of the company, while KKR will retain an ownership interest. The acquisition marks a significant investment in the business‑aviation services sector.

Quant hedge fund AQR is pursuing an appraisal arbitrage trade in Permira and Warburg Pincus' $8.4B LBO of investment and accounting software maker Clearwater Analytics3d
Anthropic almost acquired AI startup MatX for $7B3d
SoftBank is in talks to buy a majority stake in OpenAI-backed humanoid robot startup 1X Technologies at a $6B valuation3d
EQT raised its $3.7B tender offer for Japanese price comparison website Kakaku by a negligible < 0.01¢/share despite activist Oasis Management rallying against deal terms3d
Japanese trading house Itochu Corp. offered to buyout $3.4B-listed Japanese IT services and consulting firm Dentsu Soken in a cash deal3d
Canadian energy company Enbridge formed a JV with KKR and Apollo to invest $2B to expand its British Columbia natural gas pipeline system3d
Swedish miner Boliden agreed to acquire Brazilian holding company Votorantim's controlling stake in Brazilian zinc producer Nexa Resources3d
Chinese conglomerate Fujia Group is considering selling its majority stake in Hexie Health Insurance3d

Fujia Group, a Chinese conglomerate, is reportedly weighing a sale of its majority stake in Hexie Health Insurance. The consideration of the transaction has been noted without further details on timing, potential buyers or valuation. No official comment has been released by either company.

DigitalBridge Group, the data center PE firm being acquired by SoftBank, will acquire Australia's largest smart-meter provider PLUS ES from Ausgrid Group3d
Crypto custodian firm BitGo will buy NYDIG's institutional trading business3d
Rupert Murdoch plans to eventually merge Fox Corp and News Corp3d

Court documents indicate that Rupert Murdoch’s plan to eventually merge Fox Corp with News Corp may be revived, according to filings referenced by several media outlets. The prospect of a Fox‑News Corp reunion has prompted a decline in Fox Corp’s share price, while company officials have said no merger is currently under way. The renewed attention follows News Corp’s recent record‑quarter earnings report, which has spurred speculation about a possible re‑combination of the two Murdoch‑controlled entities. The filings and market reaction have been reported by Indian Television Dot Com, TIKR.com, idnfinancials.com, AD HOC NEWS and Whalesbook.

VC

Identity verification startup Socure raised a $156M series E extension at a $5.2B valuation led by Summit Partners and will acquire agentic compliance/risk operations platform Fravity3d

Socure, an identity verification startup, announced a Series E extension financing of $156 million that values the company at $5.2 billion. The round was led by Summit Partners. In conjunction with the funding, Socure said it will acquire Fravity, a platform that provides agentic compliance and risk‑operations capabilities. The acquisition is intended to broaden Socure’s product portfolio and strengthen its offering in compliance and risk management for its customers. The capital is expected to fund product development and international growth initiatives. No other terms of the deal were disclosed.

Chinese AI startup DeepSeek is set to raise $7.4B in a new funding round at a $74B valuation from Monolith, Shixiang Capital, CATL, and others3d
RQD* Clearing, a clearing and custody firm, raised $74 million in a minority investment led by Bain Capital Tech Opportunities3d
Metriport, an open-source healthcare data infrastructure company, raised $26M in new funding led by Matrix3d
CivilGrid, an underground infrastructure data platform, raised a $26M Series A led by Spark Capital3d
Atorie, an AI-powered fashion startup, raised a $9.5M seed round from a16z Speedrun, Night Capital, and Jeremy Liew of Lightspeed3d

Atorie, a startup that uses artificial intelligence to develop fashion products, announced the closing of a $9.5 million seed financing round. The round was led by a16z Speedrun and also included participation from Night Capital and Jeremy Liew of Lightspeed. The funding will be used to advance the company’s AI‑driven design and production capabilities.

IPOs / Listings / Issuances / Block Trades

Anthropic will publicly file for its potential $100B IPO after Labor Day3d
Dubai-based private aviation group Vista Global is considering raising $1B at a $10B valuation in a Switzerland or Italy IPO3d
German auto parts maker Mahle is reviving plans for a $300M-$400M India IPO of its Indian business3d
Indian advanced thermal engineering solutions Tempsens Instruments surged 110% in its trading debut after raising $68M in India IPO3d

Debt

Moderna plans to raise $2B in a convertibles sale3d
France's TotalEnergies may be reimbursed $1.3B for loans to sanctioned Russian LNG venture Arctic LNG 2 as part of the transfer of its 10% stake to a subsidiary of Russian operator Novatek3d
Australian iron ore miner Fortescue is considering raising $445M in a debut panda bond sale3d
Madison Dearborn Partners-backed wealth management platform Wealthspire raised $300M in a debut junk bond sale3d
Uplifters Foundation plans to build new $3M houses in the fire-impacted Pacific Palisades neighborhood in LA by selling $250M in munis3d
Indian resources conglomerate Vedanta plans raise $105M in a third local FX bond sale this year3d

Funds / Secondaries

Swiss PE firm Partners Group got a $1B private credit mandate from Indonesian SWF Danantara3d
Real estate credit manager BridgeInvest raised $610M for its flagship fund3d
Private markets investment firm Siguler Guff is considering raising $350M-$400M CV for four Indian portfolio companies3d
Permanent Capital Ventures raised $200M for its second fund3d

Reforma

Detonan cochebomba frente a comandancia en ZacatecasNacional · 23m
Abre UNAM 2 mil 24 lugares para aspirantes rechazadosNacional · 1h
Presume Sheinbaum logros en seguridad y carreterasNacional · 2h
Elige Morena a Higinio Martínez para dirigir SenadoNacional · 4h
Reaparece Peña Nieto junto a empresario ligado a PegasusNacional · 5h
Comparte Maduro fotos desde la cárcel en EUPortada · 14h
Paga 3.5 veces más por helicóptero Gobierno de QRPortada · 17h

El Gobierno del estado de Quintana Roo, bajo la administración de la gobernadora Mara Lezama, adquirió un helicóptero Bell 429 GlobalRanger por un valor de 440 millones. Según la información disponible, el precio de fábrica de esa aeronave es de 145 millones, lo que sitúa el costo de la compra en torno a tres veces y media el precio original. La diferencia entre ambos montos ha sido señalada por diversas fuentes como un indicador de un sobrecosto en la operación. No se han publicado detalles adicionales sobre los motivos de la diferencia de precios ni sobre los términos del contrato.