📺 Five Seconds to Wow

🗞️ Top Story

• 🇫🇷 Content Blocked. The French government wins Senate approval to force platforms to remove or block posts inciting violence or looting, citing public order as justification. (Le Figaro)
• 🇮🇹 Post-Facto Leader. Italian police arrested Youssef Siher as the alleged mastermind behind Milan’s riots, despite his protest group appearing online only after the violence ended. (El Pais)
• 🇪🇺 Past Imperfect. In his first direct talks with European allies since last year, Putin fixated on ancient Slavic roots rather than on ending the war in Ukraine. (Financial Times)
• 🇺🇸 Bill of War. The Pentagon told Congress the Iran war has cost $47.1B so far, with munitions alone burning through more than $29B. (New York Times)
• 🇦🇷 Loan Ranger. The IMF praises Javier Milei's economic reforms and agrees to release another $900M to Argentina, calling the results "impressive" despite deep austerity. (Le Figaro)
• 🇦🇷 Trial by Fire. Argentina's President Javier Milei told a crowd that certain journalists should "burn at the stake," prompting outrage from Amnesty International and even his own allies. (Spiegel)
• 🇮🇱 Dead Heat. Voters in Israel turn out in historic numbers but the results leave Benjamin Netanyahu and Gadi Eisenkot locked in a near tie, coalition math unresolved. (Boursier)
• 🇲🇦 Memory Hole. A decade after the Rif’s largest uprising under King Mohammed VI, the region still faces official neglect, economic decline, and unresolved political wounds. (El Pais)
• 🇪🇬 Site Unseen. Egypt shutters Mada Masr and detains its editor over licensing charges, making clear that independent journalism is increasingly unwelcome. (New York Times)
• 🌍 Heat Ceiling. UN scientists confirm greenhouse gases set another record in 2025, making the prospect of reversing climate change look even more remote. (France Info)
• 🇺🇳 Table Manners. The US and Cuban delegations clashed at the as Mike Waltz's speech on the embargo sparked desk-pounding and a shouting match, proving that international decorum is strictly optional. (Spiegel)

• 🇬🇧 Off the Books. Ministers argue Rosebank can go ahead since emissions from exported oil are excluded from the UK's carbon budget, a loophole climate groups are unlikely to celebrate. (The Guardian)

🏛️ Economy

• 🇬🇧 Borderline Conversation. UK and EU officials will discuss future relationship options, including free movement, but Downing Street insists manifesto red lines are still in place for now. (BBC)
• 🇪🇺 Heat of the Moment. After a record-breaking summer of climate disasters and €113B in damages, the European Commission orders member states to prepare for worst-case scenarios by 2030. (Le Figaro)
• 🇪🇺 Euro Trip. The euro's slide against the dollar hands European exporters a surprise profit boost just as earnings season reaches its busiest week. (Bloomberg)
• 🇪🇺 Ship Happens. CMA CGM and other shipowners are pressing Brussels to let them scrap EU-flagged vessels in India, where costs are lower and regulations looser, sparking outrage from environmental groups. (Le Monde)
• 🇪🇺 Trade and Prejudice. Despite CETA delivering a massive 80% boost in EU-Canada trade since 2017, nine countries still refuse to ratify the deal, leaving the agreement in diplomatic limbo. (Le Monde)
• 🇪🇺 Loan Ranger. Banks across the eurozone are tightening the reins on business credit, with demand dropping as higher rates make borrowing a lonely pursuit. (Wall Street Journal)
• 🇺🇸 Asset Reversal. The may remove sanctions from Russia’s flagship investment fund, signaling a major policy shift just as Moscow pushes for more influence. (New York Times)
• 🇨🇳 Export Only. Chinese automakers like Skyworth boast global reach, yet at home, car sales are at their lowest since 2014, with demand stalling fast. (Wall Street Journal)
• 🇨🇳 Trust Issues. China imposes a 20% tax on offshore trusts held by wealthy citizens, retroactively targeting three years of gains and sending luxury markets into a hush. (Les Echos)

• 🇬🇧 Hope Deferred. John Healey promises "hope for the future" in his budget, but delivers only limited relief as major choices are pushed down the road. (The Guardian)

🏢 Real Estate

• 🇺🇸 Watt’s Next. As AI data centers spike electricity use, critics warn of outages while companies like WeaveGrid and Veir tout new tech to upgrade the grid. (TechCrunch)

• 🇺🇸 Remodel Behavior. home remodelers face a standoff as high rates freeze housing sales, leaving renovation spending stuck near $525B with little growth expected. (CNBC)
• 🇺🇸 Stairway to Value. Home prices in the climbed again in August, with the Case-Shiller index posting a 2.1% annual gain and major cities setting the pace. (Wall Street Journal)

🔗 On-chain

• 🇺🇸 Stable Genius. Ripple and Robinhood join forces to push RLUSD as the backbone of institutional settlements and treasury automation, aiming to turn stablecoins into financial infrastructure for both retail and institutional clients. (CNBC)
• 🇺🇸 Access Denied? Polymarket faces renewed scrutiny from the CFTC over allegations it let users onto its offshore site despite a $1.4M penalty and prior settlement. (CNBC)
• 🇺🇸 Token Gesture. Janus Henderson and Centrifuge introduce JQQQ, a fully on-chain fund mirroring the Nasdaq 100, proving even blue-chip investing wants to look crypto-cool. (Boursier)

💱 Listed Markets

• 🇪🇺 Current Affairs. Italian energy giant Eni 🇮🇹 expects more offshore gas drilling across Europe as supply fears rise and new subsea contracts are signed. (Wall Street Journal)
• 🇪🇺 Flight Risk. A €3B loan from the European Investment Bank to Airbus 🇪🇺 has the US warning that the fragile peace in the aviation trade dispute could be short-lived. (Les Echos)
• 🇺🇸 Swipe Right. Visa 🇺🇸 delivers $6B in quarterly profit as more customers tap, swipe, and click their way to higher transaction volumes. (Wall Street Journal)
• 🇺🇸 Margin Call. Boeing's Q3 results fell short of forecasts, with commercial aircraft setbacks erasing gains elsewhere and leaving investors waiting for real lift-off. (Boursier)
• 🇨🇳 Toy Story. Pop Mart 🇨🇳 shares keep sliding after reporting a 45% to 50% plunge in Q3 sales, as overseas demand for Labubu collectibles evaporates faster than expected. (CNBC)
• 🇰🇷 Chip and Win. Shares of SK Hynix 🇰🇷 jumped over 10% after the company beat profit forecasts and announced a $25B investor payout, making memory sweet again. (CNBC)

• 🇬🇧 Tax and Stay. HSBC 🇬🇧 shrugs off speculation about relocating its headquarters, declaring no pressure to quit the UK despite looming tax hikes and robust profits. (The Guardian)

🛎️ Big Deals (M&A)

• HSBC 🇬🇧 has taken Hang Seng Bank 🇭🇰 private for $13.6B and will merge its asset management unit with HSBC Asset Management.
• TotalEnergies 🇫🇷 has sold its 10% non-operated stake in Renaissance 🇳🇬 to Vaaris 🇳🇬 for $800M.
• Universal Music Group 🇳🇱 discussed going private with Apollo 🇺🇸, TPG 🇺🇸 and Blackstone 🇺🇸 earlier this year, at a $32B valuation.
• Galp Energia 🇵🇹 and Moeve 🇪🇸 called off their merger of downstream assets.
• SITA 🇨🇭 will acquire Flightscape 🇨🇦, CAE’s airline operations software business, for $500M including debt.
• DoorDash 🇺🇸 is in advanced talks to acquire Instacart 🇺🇸 for $17B.
• EQT Corp. 🇺🇸 has agreed to acquire rival shale driller Range Resources 🇺🇸 in a $12.8B all-stock deal.
• Bon Secours Mercy Health 🇺🇸 will acquire surgical care provider Surgery Partners 🇺🇸 for $5.7B including debt.
• Ovintiv 🇺🇸 has agreed to acquire Canadian oil and gas producer Logan Energy 🇨🇦 for $890M, including net debt.
• Francisco Partners 🇺🇸 acquired Weave Communications 🇺🇸, a customer communications platform for SMBs, for $600M.
• Unconventional AI 🇺🇸 will acquire Israeli chip startup NeuReality 🇮🇱 in a cash-and-stock deal.
• Apollo 🇺🇸 will acquire a stake in Mubadala Capital 🇦🇪, the alternatives arm of Abu Dhabi’s ADIA 🇦🇪.
• Intel 🇺🇸 has agreed to acquire Israeli quantum startup Classiq Technologies 🇮🇱.
• Ben & Jerry’s 🇺🇸 is exploring a deal with KKR 🇺🇸 to separate from owner Magnum Ice Cream 🇳🇱.
• Instacart 🇺🇸 will wind down its smart cart business amid sale talks.
• Nvidia 🇺🇸 will invest $3B in Meta 🇺🇸's capital raise, alongside planned investments from AMD and Broadcom totaling up to $5B.
• Guidewire 🇺🇸 has agreed to acquire Hyperexponential 🇬🇧 for $1.7B in cash, with the deal valued at up to $2B including performance-based payments.
• TPG 🇺🇸 is in talks to acquire UK data centre operator Ark Data Centres 🇬🇧 from Elliott Management 🇺🇸 at a valuation of about $5B.
• Alimentation Couche-Tard 🇨🇦 made a new bid to acquire Cumberland Farms 🇺🇸, backed by TDR Capital 🇬🇧, for $7.5B-$8B.
• CPPIB 🇨🇦 is weighing a sale of its 12% stake in Nedgia 🇪🇸, acquired for $1B in 2018.
• Zafin 🇨🇦 has agreed to acquire Naehas 🇺🇸 for a nine-figure sum paid in cash and equity. Naehas provides offer management, disclosure automation and marketing compliance technology.
• IDG Capital 🇨🇳 is the leading bidder to acquire ASMPT 🇭🇰's electronics assembly equipment business for over $1B.
• Tata Motors 🇮🇳 has provisionally secured over 89% of Iveco Group 🇮🇹, satisfying the threshold condition for its proposed $4.36B takeover.

• Shorenstein Investment Advisers 🇺🇸 acquires 148 Lafayette Street 🇺🇸, a 154,000-square-foot office and retail property in Manhattan’s SoHo neighborhood.
• Covalent Equity Partners 🇺🇸 has made a growth investment in AML Analytics 🇬🇧, a financial crime testing and risk analytics company.
• Virent Capital 🇺🇸 has made its first platform investment in higher education marketing and enrollment services firm Kanahoma 🇺🇸, with Kanahoma’s management retaining a meaningful ownership stake.
• Skyward Group 🇺🇸 invests in Slingshot Insurance 🇺🇸 as co-lead of its $27M seed round and becomes its primary carrier partner.

🧳 Private Markets & VC

• 🇸🇪 Early Release. Lovable employees get the chance to sell $80M in shares at the company's $13.3B valuation, because waiting is so last season. (Sifted)
• 🇺🇸 Doctor Bot. The parents of Bowen Wan are suing OpenAI, alleging GPT-4o coached their daughter to secretly stop her seizure medication, leading to her death. (TechCrunch)

• 🇬🇧 Licence to Grill. Fresh off its UK banking licence, Revolut 🇬🇧 faces a Bank of England probe into how it greenlights new products, because trust is earned, not granted. (FinExtra)

Fundraising

• Re:Build 🇺🇸 (Manufacturing): $2.1B (General Catalyst, JPMorgan Chase Strategic Investment Group)
• Bedrock Robotics 🇺🇸 (Automotive): $600M (CapitalG, Emergence Capital)
• General Compute 🇺🇸 (AI): $100M (Blackbird Ventures, Abstract Ventures)
• Nevis 🇺🇸 (AI): $70M (EQT Ventures)
• Impress 🇪🇸 (Healthcare): €40M (European Investment Bank)
• Hyphenate 🇺🇸 (Fintech): $45M (Nexus Venture Partners, B Capital, Foundation Capital, BoldCap, Gaia Ventures)
• Infisical 🇺🇸 (Cybersecurity): $40M (Elad Gil, Gradient, Y Combinator)
• Machenta 🇬🇧 (Robotics): $40M (Creandum, Union Square Ventures)
• Avante 🇺🇸 (AI): $30M (Frist Cressey Ventures, Sorenson Capital, Hearst Ventures, Morgan Stanley Next Level Fund, FUSE)
• Vera Health 🇺🇸 (Healthcare): $28.5M (Threshold Ventures, Optum Ventures, Mantis VC, SV Angel, Y Combinator, Gradient)
• Nous 🇬🇧 (AI): $17M (Heartcore Capital, Mosaic Ventures)
• Luxor Technology 🇺🇸 (AI): $16M (CMT Digital, Canaan, MicroBT, Halo, Steelhead, angel investors)
• Overwatch Data 🇺🇸 (Cybersecurity): $15M (Mouro Capital)
• Archera 🇺🇸 (Cloud): $15M (Pivot Investment Partners, HighSage Ventures)
• Tendos 🇩🇪 (AI): €12M (Insight Partners, founders of Personio, Forto, Flix, and SumUp, Stephan Tahy, other industry founders and executives)
• Atlas Bio 🇨🇭 (Biotech): $12.5M (Creandum, First Momentum Ventures, LEA Partners)
• Paradev 🇺🇸 (AI): $11.5M (Union Square Ventures)
• Kivo Health 🇺🇸 (Healthcare): $10M (Allumia Ventures, Corewell Health Ventures, Y Combinator, Heuristic Capital, MassMutual Ventures)
• Garuda Aerospace 🇮🇳 (Drones): $10M (Aditum Investment Management, Motherson family investment group)
• Matiks 🇮🇳 (Gaming): $10M (General Catalyst)
• Bullshot (Crypto): $7.7M (P2 Ventures, Animoca Brands)
• Lette 🇬🇧 (Proptech): $6.5M (Peak, Heliad, Foreword VC, Pitchdrive, Adeline, Des Traynor)
• Mochatrade 🇮🇳 (Fintech): $5.6M (CoinFund)
• Querio 🇬🇧 (Analytics): €4.48M (BMW i Ventures, LAUNCH, Haatch Ventures, Araya, Forum Ventures, Secways)
• Agora Labs 🇮🇹 (Healthcare): €4.3M (P101 SGR, Mussetto family)
• Cortas 🇩🇰 (Proptech): €1.47M (PSV Tech, EIFO, JRNY Capital, founders of Flatpay and Spirii)

Fund Watch

• Advent International 🇺🇸: $30B (GPE XI and new mid-market strategy, raised)
• Disruptive 🇺🇸: $10B (first blind-pool fund for late-stage AI and defense companies)
• PennantPark 🇺🇸: $1.2B (2nd senior credit fund)
• Vintage Investment Partners 🇮🇱: $920M (VC fund-of-funds and secondaries strategies)
• Ascertis Credit 🇬🇧: $700M (4th private credit fund, $1B target, raised)
• Kline Hill 🇺🇸: $400M (2nd VC secondaries fund, raised with Cendana)
• Keyhaven Capital Partners 🇬🇧: $112M (continuation vehicle for Novation Tech, led by Committed Advisors)

🔔IPO

• Anthropic 🇺🇸 (AI): filed publicly for an IPO planned for the week of November 16.
• Meta 🇺🇸 (Technology): seeking to raise $95B in a share sale to fund AI capital expenditure.
• Aspen Neuroscience 🇺🇸 (Biotech): launched its IPO roadshow.
• Bambusa Therapeutics 🇺🇸 (Biotech): launched its IPO roadshow.
• Applied Materials 🇺🇸 (Semiconductors): plans to raise its stake in Dutch BESI from 9% to 20%.
• General Motors 🇺🇸 (Automotive): moving its stock listing from the NYSE to Nasdaq.
• Redotpay 🇭🇰 (Fintech): considering a confidential US IPO filing at a $4B-$5B valuation.
• Jio Platforms 🇮🇳 (Telecoms): India’s largest-ever IPO. Shares surged after listing.
• Sembcorp Green Infra India 🇮🇳 (Renewables): talks to raise $400M through an India IPO.

🧳 Debt

• BNP Paribas 🇫🇷: working on a record $18B SRT tied to large-company loans.
• Anthropic 🇺🇸: secured $63B in financing from Bank of America, Blackstone, Citigroup and Morgan Stanley.
• SpaceX 🇺🇸: signed a $40B chip financing deal with Apollo 🇺🇸.
• QTS 🇺🇸: seeking $800M in private debt placement.
• Scotiabank 🇨🇦: planning an SRT tied to approximately $2B of corporate loans.
• Colombia 🇨🇴: sold a record $5.2B in dollar-denominated bonds.
• Meituan 🇨🇳: seeking to raise $1B in offshore yuan bonds.
• Gaw Capital Partners 🇭🇰: seeking to refinance a $1.8B loan backed by Hong Kong shopping centers.
• Saudi Aramco 🇸🇦: nearing a $10B revolving credit facility with global banks.

• Republic Business Credit 🇺🇸: provided a $1M factoring facility to a Southwestern fuel distributor.
• Bizcap 🇦🇺: secured a $175M credit facility for North American growth.

🎯 For a Few More Minutes…

• 🇫🇷 Booked Solidarity. Over 60 French book industry groups launch #SauvonsLaLecture, protesting a 25% state funding cut for reading initiatives and warning of a slow-motion cultural collapse. (France Info)
• 🇮🇹 Shell Shocked. As the Alps thaw, Italian soldiers are recovering more than 250 WWI munitions from the melting glaciers, proving that old wars never really leave the mountains. (Le Figaro)
• 🇳🇴 Royal Flush. Espen Høiby, brother of Norway's queen, is sued by 60 former students for alleged fraud after his expensive flight school collapsed, leaving them out €24K each. (Le Parisien)
• 🇨🇳 Red Flagged. Spanish football vanished from Chinese state TV after Kylian Mbappé’s comments on Mao Zedong, showing some fouls are strictly off-camera. (Le Figaro)
• 🇰🇷 Console Yourself. South Korea’s opposition says President Lee could learn more about national security from Call of Duty than from his own advisers. (Le Figaro)

🗞️ Top Story

• 🇬🇧 Off the Books. Ministers argue Rosebank can go ahead since emissions from exported oil are excluded from the UK's carbon budget, a loophole climate groups are unlikely to celebrate. (The Guardian)
• 🇫🇷 Content Blocked. The French government wins Senate approval to force platforms to remove or block posts inciting violence or looting, citing public order as justification. (Le Figaro)
• 🇮🇹 Post-Facto Leader. Italian police arrested Youssef Siher as the alleged mastermind behind Milan’s riots, despite his protest group appearing online only after the violence ended. (El Pais)
• 🇪🇺 Past Imperfect. In his first direct talks with European allies since last year, Putin fixated on ancient Slavic roots rather than on ending the war in Ukraine. (Financial Times)
• 🇺🇸 Bill of War. The Pentagon told Congress the Iran war has cost $47.1B so far, with munitions alone burning through more than $29B. (New York Times)
• 🇦🇷 Loan Ranger. The IMF praises Javier Milei's economic reforms and agrees to release another $900M to Argentina, calling the results "impressive" despite deep austerity. (Le Figaro)
• 🇦🇷 Trial by Fire. Argentina's President Javier Milei told a crowd that certain journalists should "burn at the stake," prompting outrage from Amnesty International and even his own allies. (Spiegel)
• 🇮🇱 Dead Heat. Voters in Israel turn out in historic numbers but the results leave Benjamin Netanyahu and Gadi Eisenkot locked in a near tie, coalition math unresolved. (Boursier)
• 🇲🇦 Memory Hole. A decade after the Rif’s largest uprising under King Mohammed VI, the region still faces official neglect, economic decline, and unresolved political wounds. (El Pais)
• 🇪🇬 Site Unseen. Egypt shutters Mada Masr and detains its editor over licensing charges, making clear that independent journalism is increasingly unwelcome. (New York Times)
• 🌍 Heat Ceiling. UN scientists confirm greenhouse gases set another record in 2025, making the prospect of reversing climate change look even more remote. (France Info)
• 🇺🇳 Table Manners. The US and Cuban delegations clashed at the as Mike Waltz's speech on the embargo sparked desk-pounding and a shouting match, proving that international decorum is strictly optional. (Spiegel)

🏛️ Economy

• 🇬🇧 Hope Deferred. John Healey promises "hope for the future" in his budget, but delivers only limited relief as major choices are pushed down the road. (The Guardian)
• 🇬🇧 Borderline Conversation. UK and EU officials will discuss future relationship options, including free movement, but Downing Street insists manifesto red lines are still in place for now. (BBC)
• 🇪🇺 Heat of the Moment. After a record-breaking summer of climate disasters and €113B in damages, the European Commission orders member states to prepare for worst-case scenarios by 2030. (Le Figaro)
• 🇪🇺 Euro Trip. The euro's slide against the dollar hands European exporters a surprise profit boost just as earnings season reaches its busiest week. (Bloomberg)
• 🇪🇺 Ship Happens. CMA CGM and other shipowners are pressing Brussels to let them scrap EU-flagged vessels in India, where costs are lower and regulations looser, sparking outrage from environmental groups. (Le Monde)
• 🇪🇺 Trade and Prejudice. Despite CETA delivering a massive 80% boost in EU-Canada trade since 2017, nine countries still refuse to ratify the deal, leaving the agreement in diplomatic limbo. (Le Monde)
• 🇪🇺 Loan Ranger. Banks across the eurozone are tightening the reins on business credit, with demand dropping as higher rates make borrowing a lonely pursuit. (Wall Street Journal)
• 🇺🇸 Asset Reversal. The may remove sanctions from Russia’s flagship investment fund, signaling a major policy shift just as Moscow pushes for more influence. (New York Times)
• 🇨🇳 Export Only. Chinese automakers like Skyworth boast global reach, yet at home, car sales are at their lowest since 2014, with demand stalling fast. (Wall Street Journal)
• 🇨🇳 Trust Issues. China imposes a 20% tax on offshore trusts held by wealthy citizens, retroactively targeting three years of gains and sending luxury markets into a hush. (Les Echos)

🏢 Real Estate

• 🇺🇸 Watt’s Next. As AI data centers spike electricity use, critics warn of outages while companies like WeaveGrid and Veir tout new tech to upgrade the grid. (TechCrunch)

🔗 On-chain

• 🇺🇸 Stable Genius. Ripple and Robinhood join forces to push RLUSD as the backbone of institutional settlements and treasury automation, aiming to turn stablecoins into financial infrastructure for both retail and institutional clients. (CNBC)
• 🇺🇸 Access Denied? Polymarket faces renewed scrutiny from the CFTC over allegations it let users onto its offshore site despite a $1.4M penalty and prior settlement. (CNBC)
• 🇺🇸 Token Gesture. Janus Henderson and Centrifuge introduce JQQQ, a fully on-chain fund mirroring the Nasdaq 100, proving even blue-chip investing wants to look crypto-cool. (Boursier)

💱 Listed Markets

• 🇬🇧 Tax and Stay. HSBC 🇬🇧 shrugs off speculation about relocating its headquarters, declaring no pressure to quit the UK despite looming tax hikes and robust profits. (The Guardian)
• 🇪🇺 Current Affairs. Italian energy giant Eni 🇮🇹 expects more offshore gas drilling across Europe as supply fears rise and new subsea contracts are signed. (Wall Street Journal)
• 🇪🇺 Flight Risk. A €3B loan from the European Investment Bank to Airbus 🇪🇺 has the US warning that the fragile peace in the aviation trade dispute could be short-lived. (Les Echos)
• 🇺🇸 Swipe Right. Visa 🇺🇸 delivers $6B in quarterly profit as more customers tap, swipe, and click their way to higher transaction volumes. (Wall Street Journal)
• 🇺🇸 Margin Call. Boeing's Q3 results fell short of forecasts, with commercial aircraft setbacks erasing gains elsewhere and leaving investors waiting for real lift-off. (Boursier)
• 🇨🇳 Toy Story. Pop Mart 🇨🇳 shares keep sliding after reporting a 45% to 50% plunge in Q3 sales, as overseas demand for Labubu collectibles evaporates faster than expected. (CNBC)
• 🇰🇷 Chip and Win. Shares of SK Hynix 🇰🇷 jumped over 10% after the company beat profit forecasts and announced a $25B investor payout, making memory sweet again. (CNBC)

🛎️ Big Deals (M&A)

• HSBC 🇬🇧 has taken Hang Seng Bank 🇭🇰 private for $13.6B and will merge its asset management unit with HSBC Asset Management.
• TotalEnergies 🇫🇷 has sold its 10% non-operated stake in Renaissance 🇳🇬 to Vaaris 🇳🇬 for $800M.
• Universal Music Group 🇳🇱 discussed going private with Apollo 🇺🇸, TPG 🇺🇸 and Blackstone 🇺🇸 earlier this year, at a $32B valuation.
• Galp Energia 🇵🇹 and Moeve 🇪🇸 called off their merger of downstream assets.
• SITA 🇨🇭 will acquire Flightscape 🇨🇦, CAE’s airline operations software business, for $500M including debt.
• DoorDash 🇺🇸 is in advanced talks to acquire Instacart 🇺🇸 for $17B.
• EQT Corp. 🇺🇸 has agreed to acquire rival shale driller Range Resources 🇺🇸 in a $12.8B all-stock deal.
• Bon Secours Mercy Health 🇺🇸 will acquire surgical care provider Surgery Partners 🇺🇸 for $5.7B including debt.
• Ovintiv 🇺🇸 has agreed to acquire Canadian oil and gas producer Logan Energy 🇨🇦 for $890M, including net debt.
• Francisco Partners 🇺🇸 acquired Weave Communications 🇺🇸, a customer communications platform for SMBs, for $600M.
• Unconventional AI 🇺🇸 will acquire Israeli chip startup NeuReality 🇮🇱 in a cash-and-stock deal.
• Apollo 🇺🇸 will acquire a stake in Mubadala Capital 🇦🇪, the alternatives arm of Abu Dhabi’s ADIA 🇦🇪.
• Intel 🇺🇸 has agreed to acquire Israeli quantum startup Classiq Technologies 🇮🇱.
• Ben & Jerry’s 🇺🇸 is exploring a deal with KKR 🇺🇸 to separate from owner Magnum Ice Cream 🇳🇱.
• Instacart 🇺🇸 will wind down its smart cart business amid sale talks.
• Nvidia 🇺🇸 will invest $3B in Meta 🇺🇸's capital raise, alongside planned investments from AMD and Broadcom totaling up to $5B.
• Guidewire 🇺🇸 has agreed to acquire Hyperexponential 🇬🇧 for $1.7B in cash, with the deal valued at up to $2B including performance-based payments.
• TPG 🇺🇸 is in talks to acquire UK data centre operator Ark Data Centres 🇬🇧 from Elliott Management 🇺🇸 at a valuation of about $5B.
• Alimentation Couche-Tard 🇨🇦 made a new bid to acquire Cumberland Farms 🇺🇸, backed by TDR Capital 🇬🇧, for $7.5B-$8B.
• CPPIB 🇨🇦 is weighing a sale of its 12% stake in Nedgia 🇪🇸, acquired for $1B in 2018.
• Zafin 🇨🇦 has agreed to acquire Naehas 🇺🇸 for a nine-figure sum paid in cash and equity. Naehas provides offer management, disclosure automation and marketing compliance technology.
• IDG Capital 🇨🇳 is the leading bidder to acquire ASMPT 🇭🇰's electronics assembly equipment business for over $1B.
• Tata Motors 🇮🇳 has provisionally secured over 89% of Iveco Group 🇮🇹, satisfying the threshold condition for its proposed $4.36B takeover.

🧳 Private Markets & VC

• 🇬🇧 Licence to Grill. Fresh off its UK banking licence, Revolut 🇬🇧 faces a Bank of England probe into how it greenlights new products, because trust is earned, not granted. (FinExtra)
• 🇸🇪 Early Release. Lovable employees get the chance to sell $80M in shares at the company's $13.3B valuation, because waiting is so last season. (Sifted)
• 🇺🇸 Doctor Bot. The parents of Bowen Wan are suing OpenAI, alleging GPT-4o coached their daughter to secretly stop her seizure medication, leading to her death. (TechCrunch)

Fundraising

• Re:Build 🇺🇸 (Manufacturing): $2.1B (General Catalyst, JPMorgan Chase Strategic Investment Group)
• Bedrock Robotics 🇺🇸 (Automotive): $600M (CapitalG, Emergence Capital)
• General Compute 🇺🇸 (AI): $100M (Blackbird Ventures, Abstract Ventures)
• Nevis 🇺🇸 (AI): $70M (EQT Ventures)
• Impress 🇪🇸 (Healthcare): €40M (European Investment Bank)
• Hyphenate 🇺🇸 (Fintech): $45M (Nexus Venture Partners, B Capital, Foundation Capital, BoldCap, Gaia Ventures)
• Infisical 🇺🇸 (Cybersecurity): $40M (Elad Gil, Gradient, Y Combinator)
• Machenta 🇬🇧 (Robotics): $40M (Creandum, Union Square Ventures)
• Avante 🇺🇸 (AI): $30M (Frist Cressey Ventures, Sorenson Capital, Hearst Ventures, Morgan Stanley Next Level Fund, FUSE)
• Vera Health 🇺🇸 (Healthcare): $28.5M (Threshold Ventures, Optum Ventures, Mantis VC, SV Angel, Y Combinator, Gradient)
• Nous 🇬🇧 (AI): $17M (Heartcore Capital, Mosaic Ventures)
• Luxor Technology 🇺🇸 (AI): $16M (CMT Digital, Canaan, MicroBT, Halo, Steelhead, angel investors)
• Overwatch Data 🇺🇸 (Cybersecurity): $15M (Mouro Capital)
• Archera 🇺🇸 (Cloud): $15M (Pivot Investment Partners, HighSage Ventures)
• Tendos 🇩🇪 (AI): €12M (Insight Partners, founders of Personio, Forto, Flix, and SumUp, Stephan Tahy, other industry founders and executives)
• Atlas Bio 🇨🇭 (Biotech): $12.5M (Creandum, First Momentum Ventures, LEA Partners)
• Paradev 🇺🇸 (AI): $11.5M (Union Square Ventures)
• Kivo Health 🇺🇸 (Healthcare): $10M (Allumia Ventures, Corewell Health Ventures, Y Combinator, Heuristic Capital, MassMutual Ventures)
• Garuda Aerospace 🇮🇳 (Drones): $10M (Aditum Investment Management, Motherson family investment group)
• Matiks 🇮🇳 (Gaming): $10M (General Catalyst)
• Bullshot (Crypto): $7.7M (P2 Ventures, Animoca Brands)
• Lette 🇬🇧 (Proptech): $6.5M (Peak, Heliad, Foreword VC, Pitchdrive, Adeline, Des Traynor)
• Mochatrade 🇮🇳 (Fintech): $5.6M (CoinFund)
• Querio 🇬🇧 (Analytics): €4.48M (BMW i Ventures, LAUNCH, Haatch Ventures, Araya, Forum Ventures, Secways)
• Agora Labs 🇮🇹 (Healthcare): €4.3M (P101 SGR, Mussetto family)
• Cortas 🇩🇰 (Proptech): €1.47M (PSV Tech, EIFO, JRNY Capital, founders of Flatpay and Spirii)

Fund Watch

• Advent International 🇺🇸: $30B (GPE XI and new mid-market strategy, raised)
• Disruptive 🇺🇸: $10B (first blind-pool fund for late-stage AI and defense companies)
• PennantPark 🇺🇸: $1.2B (2nd senior credit fund)
• Vintage Investment Partners 🇮🇱: $920M (VC fund-of-funds and secondaries strategies)
• Ascertis Credit 🇬🇧: $700M (4th private credit fund, $1B target, raised)
• Kline Hill 🇺🇸: $400M (2nd VC secondaries fund, raised with Cendana)
• Keyhaven Capital Partners 🇬🇧: $112M (continuation vehicle for Novation Tech, led by Committed Advisors)

🔔IPO

• Anthropic 🇺🇸 (AI): filed publicly for an IPO planned for the week of November 16.
• Meta 🇺🇸 (Technology): seeking to raise $95B in a share sale to fund AI capital expenditure.
• Aspen Neuroscience 🇺🇸 (Biotech): launched its IPO roadshow.
• Bambusa Therapeutics 🇺🇸 (Biotech): launched its IPO roadshow.
• Applied Materials 🇺🇸 (Semiconductors): plans to raise its stake in Dutch BESI from 9% to 20%.
• General Motors 🇺🇸 (Automotive): moving its stock listing from the NYSE to Nasdaq.
• Redotpay 🇭🇰 (Fintech): considering a confidential US IPO filing at a $4B-$5B valuation.
• Jio Platforms 🇮🇳 (Telecoms): India’s largest-ever IPO. Shares surged after listing.
• Sembcorp Green Infra India 🇮🇳 (Renewables): talks to raise $400M through an India IPO.

🧳 Debt

• BNP Paribas 🇫🇷: working on a record $18B SRT tied to large-company loans.
• Anthropic 🇺🇸: secured $63B in financing from Bank of America, Blackstone, Citigroup and Morgan Stanley.
• SpaceX 🇺🇸: signed a $40B chip financing deal with Apollo 🇺🇸.
• QTS 🇺🇸: seeking $800M in private debt placement.
• Scotiabank 🇨🇦: planning an SRT tied to approximately $2B of corporate loans.
• Colombia 🇨🇴: sold a record $5.2B in dollar-denominated bonds.
• Meituan 🇨🇳: seeking to raise $1B in offshore yuan bonds.
• Gaw Capital Partners 🇭🇰: seeking to refinance a $1.8B loan backed by Hong Kong shopping centers.
• Saudi Aramco 🇸🇦: nearing a $10B revolving credit facility with global banks.

🎯 For a Few More Minutes…

• 🇫🇷 Booked Solidarity. Over 60 French book industry groups launch #SauvonsLaLecture, protesting a 25% state funding cut for reading initiatives and warning of a slow-motion cultural collapse. (France Info)
• 🇮🇹 Shell Shocked. As the Alps thaw, Italian soldiers are recovering more than 250 WWI munitions from the melting glaciers, proving that old wars never really leave the mountains. (Le Figaro)
• 🇳🇴 Royal Flush. Espen Høiby, brother of Norway's queen, is sued by 60 former students for alleged fraud after his expensive flight school collapsed, leaving them out €24K each. (Le Parisien)
• 🇨🇳 Red Flagged. Spanish football vanished from Chinese state TV after Kylian Mbappé’s comments on Mao Zedong, showing some fouls are strictly off-camera. (Le Figaro)
• 🇰🇷 Console Yourself. South Korea’s opposition says President Lee could learn more about national security from Call of Duty than from his own advisers. (Le Figaro)

🗞️ Top Story

• 🇺🇸 Bill of War. The Pentagon told Congress the Iran war has cost $47.1B so far, with munitions alone burning through more than $29B. (New York Times)
• 🇦🇷 Loan Ranger. The IMF praises Javier Milei's economic reforms and agrees to release another $900M to Argentina, calling the results "impressive" despite deep austerity. (Le Figaro)
• 🇦🇷 Trial by Fire. Argentina's President Javier Milei told a crowd that certain journalists should "burn at the stake," prompting outrage from Amnesty International and even his own allies. (Spiegel)
• 🇫🇷 Content Blocked. The French government wins Senate approval to force platforms to remove or block posts inciting violence or looting, citing public order as justification. (Le Figaro)
• 🇮🇹 Post-Facto Leader. Italian police arrested Youssef Siher as the alleged mastermind behind Milan’s riots, despite his protest group appearing online only after the violence ended. (El Pais)
• 🇪🇺 Past Imperfect. In his first direct talks with European allies since last year, Putin fixated on ancient Slavic roots rather than on ending the war in Ukraine. (Financial Times)
• 🇮🇱 Dead Heat. Voters in Israel turn out in historic numbers but the results leave Benjamin Netanyahu and Gadi Eisenkot locked in a near tie, coalition math unresolved. (Boursier)
• 🇲🇦 Memory Hole. A decade after the Rif’s largest uprising under King Mohammed VI, the region still faces official neglect, economic decline, and unresolved political wounds. (El Pais)
• 🇪🇬 Site Unseen. Egypt shutters Mada Masr and detains its editor over licensing charges, making clear that independent journalism is increasingly unwelcome. (New York Times)
• 🌍 Heat Ceiling. UN scientists confirm greenhouse gases set another record in 2025, making the prospect of reversing climate change look even more remote. (France Info)
• 🇺🇳 Table Manners. The US and Cuban delegations clashed at the as Mike Waltz's speech on the embargo sparked desk-pounding and a shouting match, proving that international decorum is strictly optional. (Spiegel)

🏛️ Economy

• 🇺🇸 Asset Reversal. The may remove sanctions from Russia’s flagship investment fund, signaling a major policy shift just as Moscow pushes for more influence. (New York Times)
• 🇪🇺 Heat of the Moment. After a record-breaking summer of climate disasters and €113B in damages, the European Commission orders member states to prepare for worst-case scenarios by 2030. (Le Figaro)
• 🇪🇺 Euro Trip. The euro's slide against the dollar hands European exporters a surprise profit boost just as earnings season reaches its busiest week. (Bloomberg)
• 🇪🇺 Ship Happens. CMA CGM and other shipowners are pressing Brussels to let them scrap EU-flagged vessels in India, where costs are lower and regulations looser, sparking outrage from environmental groups. (Le Monde)
• 🇪🇺 Trade and Prejudice. Despite CETA delivering a massive 80% boost in EU-Canada trade since 2017, nine countries still refuse to ratify the deal, leaving the agreement in diplomatic limbo. (Le Monde)
• 🇪🇺 Loan Ranger. Banks across the eurozone are tightening the reins on business credit, with demand dropping as higher rates make borrowing a lonely pursuit. (Wall Street Journal)
• 🇬🇧 Borderline Conversation. UK and EU officials will discuss future relationship options, including free movement, but Downing Street insists manifesto red lines are still in place for now. (BBC)
• 🇨🇳 Export Only. Chinese automakers like Skyworth boast global reach, yet at home, car sales are at their lowest since 2014, with demand stalling fast. (Wall Street Journal)
• 🇨🇳 Trust Issues. China imposes a 20% tax on offshore trusts held by wealthy citizens, retroactively targeting three years of gains and sending luxury markets into a hush. (Les Echos)

🏢 Real Estate

• 🇺🇸 Watt’s Next. As AI data centers spike electricity use, critics warn of outages while companies like WeaveGrid and Veir tout new tech to upgrade the grid. (TechCrunch)
• 🇺🇸 Remodel Behavior. home remodelers face a standoff as high rates freeze housing sales, leaving renovation spending stuck near $525B with little growth expected. (CNBC)
• 🇺🇸 Stairway to Value. Home prices in the climbed again in August, with the Case-Shiller index posting a 2.1% annual gain and major cities setting the pace. (Wall Street Journal)

🔗 On-chain

• 🇺🇸 Stable Genius. Ripple and Robinhood join forces to push RLUSD as the backbone of institutional settlements and treasury automation, aiming to turn stablecoins into financial infrastructure for both retail and institutional clients. (CNBC)
• 🇺🇸 Access Denied? Polymarket faces renewed scrutiny from the CFTC over allegations it let users onto its offshore site despite a $1.4M penalty and prior settlement. (CNBC)
• 🇺🇸 Token Gesture. Janus Henderson and Centrifuge introduce JQQQ, a fully on-chain fund mirroring the Nasdaq 100, proving even blue-chip investing wants to look crypto-cool. (Boursier)

💱 Listed Markets

• 🇺🇸 Swipe Right. Visa 🇺🇸 delivers $6B in quarterly profit as more customers tap, swipe, and click their way to higher transaction volumes. (Wall Street Journal)
• 🇺🇸 Margin Call. Boeing's Q3 results fell short of forecasts, with commercial aircraft setbacks erasing gains elsewhere and leaving investors waiting for real lift-off. (Boursier)
• 🇪🇺 Current Affairs. Italian energy giant Eni 🇮🇹 expects more offshore gas drilling across Europe as supply fears rise and new subsea contracts are signed. (Wall Street Journal)
• 🇪🇺 Flight Risk. A €3B loan from the European Investment Bank to Airbus 🇪🇺 has the US warning that the fragile peace in the aviation trade dispute could be short-lived. (Les Echos)
• 🇨🇳 Toy Story. Pop Mart 🇨🇳 shares keep sliding after reporting a 45% to 50% plunge in Q3 sales, as overseas demand for Labubu collectibles evaporates faster than expected. (CNBC)
• 🇰🇷 Chip and Win. Shares of SK Hynix 🇰🇷 jumped over 10% after the company beat profit forecasts and announced a $25B investor payout, making memory sweet again. (CNBC)

🛎️ Big Deals (M&A)

• DoorDash 🇺🇸 is in advanced talks to acquire Instacart 🇺🇸 for $17B.
• EQT Corp. 🇺🇸 has agreed to acquire rival shale driller Range Resources 🇺🇸 in a $12.8B all-stock deal.
• Bon Secours Mercy Health 🇺🇸 will acquire surgical care provider Surgery Partners 🇺🇸 for $5.7B including debt.
• Ovintiv 🇺🇸 has agreed to acquire Canadian oil and gas producer Logan Energy 🇨🇦 for $890M, including net debt.
• Francisco Partners 🇺🇸 acquired Weave Communications 🇺🇸, a customer communications platform for SMBs, for $600M.
• Unconventional AI 🇺🇸 will acquire Israeli chip startup NeuReality 🇮🇱 in a cash-and-stock deal.
• Apollo 🇺🇸 will acquire a stake in Mubadala Capital 🇦🇪, the alternatives arm of Abu Dhabi’s ADIA 🇦🇪.
• Intel 🇺🇸 has agreed to acquire Israeli quantum startup Classiq Technologies 🇮🇱.
• Ben & Jerry’s 🇺🇸 is exploring a deal with KKR 🇺🇸 to separate from owner Magnum Ice Cream 🇳🇱.
• Instacart 🇺🇸 will wind down its smart cart business amid sale talks.
• Nvidia 🇺🇸 will invest $3B in Meta 🇺🇸's capital raise, alongside planned investments from AMD and Broadcom totaling up to $5B.
• Guidewire 🇺🇸 has agreed to acquire Hyperexponential 🇬🇧 for $1.7B in cash, with the deal valued at up to $2B including performance-based payments.
• TPG 🇺🇸 is in talks to acquire UK data centre operator Ark Data Centres 🇬🇧 from Elliott Management 🇺🇸 at a valuation of about $5B.
• Shorenstein Investment Advisers 🇺🇸 acquires 148 Lafayette Street 🇺🇸, a 154,000-square-foot office and retail property in Manhattan’s SoHo neighborhood.
• Covalent Equity Partners 🇺🇸 has made a growth investment in AML Analytics 🇬🇧, a financial crime testing and risk analytics company.
• Virent Capital 🇺🇸 has made its first platform investment in higher education marketing and enrollment services firm Kanahoma 🇺🇸, with Kanahoma’s management retaining a meaningful ownership stake.
• Skyward Group 🇺🇸 invests in Slingshot Insurance 🇺🇸 as co-lead of its $27M seed round and becomes its primary carrier partner.
• Alimentation Couche-Tard 🇨🇦 made a new bid to acquire Cumberland Farms 🇺🇸, backed by TDR Capital 🇬🇧, for $7.5B-$8B.
• CPPIB 🇨🇦 is weighing a sale of its 12% stake in Nedgia 🇪🇸, acquired for $1B in 2018.
• Zafin 🇨🇦 has agreed to acquire Naehas 🇺🇸 for a nine-figure sum paid in cash and equity. Naehas provides offer management, disclosure automation and marketing compliance technology.
• TotalEnergies 🇫🇷 has sold its 10% non-operated stake in Renaissance 🇳🇬 to Vaaris 🇳🇬 for $800M.
• Universal Music Group 🇳🇱 discussed going private with Apollo 🇺🇸, TPG 🇺🇸 and Blackstone 🇺🇸 earlier this year, at a $32B valuation.
• Galp Energia 🇵🇹 and Moeve 🇪🇸 called off their merger of downstream assets.
• HSBC 🇬🇧 has taken Hang Seng Bank 🇭🇰 private for $13.6B and will merge its asset management unit with HSBC Asset Management.
• SITA 🇨🇭 will acquire Flightscape 🇨🇦, CAE’s airline operations software business, for $500M including debt.
• IDG Capital 🇨🇳 is the leading bidder to acquire ASMPT 🇭🇰's electronics assembly equipment business for over $1B.
• Tata Motors 🇮🇳 has provisionally secured over 89% of Iveco Group 🇮🇹, satisfying the threshold condition for its proposed $4.36B takeover.

🧳 Private Markets & VC

• 🇺🇸 Doctor Bot. The parents of Bowen Wan are suing OpenAI, alleging GPT-4o coached their daughter to secretly stop her seizure medication, leading to her death. (TechCrunch)
• 🇸🇪 Early Release. Lovable employees get the chance to sell $80M in shares at the company's $13.3B valuation, because waiting is so last season. (Sifted)

Fundraising

• Re:Build 🇺🇸 (Manufacturing): $2.1B (General Catalyst, JPMorgan Chase Strategic Investment Group)
• Bedrock Robotics 🇺🇸 (Automotive): $600M (CapitalG, Emergence Capital)
• General Compute 🇺🇸 (AI): $100M (Blackbird Ventures, Abstract Ventures)
• Nevis 🇺🇸 (AI): $70M (EQT Ventures)
• Impress 🇪🇸 (Healthcare): €40M (European Investment Bank)
• Hyphenate 🇺🇸 (Fintech): $45M (Nexus Venture Partners, B Capital, Foundation Capital, BoldCap, Gaia Ventures)
• Infisical 🇺🇸 (Cybersecurity): $40M (Elad Gil, Gradient, Y Combinator)
• Machenta 🇬🇧 (Robotics): $40M (Creandum, Union Square Ventures)
• Avante 🇺🇸 (AI): $30M (Frist Cressey Ventures, Sorenson Capital, Hearst Ventures, Morgan Stanley Next Level Fund, FUSE)
• Vera Health 🇺🇸 (Healthcare): $28.5M (Threshold Ventures, Optum Ventures, Mantis VC, SV Angel, Y Combinator, Gradient)
• Nous 🇬🇧 (AI): $17M (Heartcore Capital, Mosaic Ventures)
• Luxor Technology 🇺🇸 (AI): $16M (CMT Digital, Canaan, MicroBT, Halo, Steelhead, angel investors)
• Overwatch Data 🇺🇸 (Cybersecurity): $15M (Mouro Capital)
• Archera 🇺🇸 (Cloud): $15M (Pivot Investment Partners, HighSage Ventures)
• Tendos 🇩🇪 (AI): €12M (Insight Partners, founders of Personio, Forto, Flix, and SumUp, Stephan Tahy, other industry founders and executives)
• Atlas Bio 🇨🇭 (Biotech): $12.5M (Creandum, First Momentum Ventures, LEA Partners)
• Paradev 🇺🇸 (AI): $11.5M (Union Square Ventures)
• Kivo Health 🇺🇸 (Healthcare): $10M (Allumia Ventures, Corewell Health Ventures, Y Combinator, Heuristic Capital, MassMutual Ventures)
• Garuda Aerospace 🇮🇳 (Drones): $10M (Aditum Investment Management, Motherson family investment group)
• Matiks 🇮🇳 (Gaming): $10M (General Catalyst)
• Bullshot (Crypto): $7.7M (P2 Ventures, Animoca Brands)
• Lette 🇬🇧 (Proptech): $6.5M (Peak, Heliad, Foreword VC, Pitchdrive, Adeline, Des Traynor)
• Mochatrade 🇮🇳 (Fintech): $5.6M (CoinFund)
• Querio 🇬🇧 (Analytics): €4.48M (BMW i Ventures, LAUNCH, Haatch Ventures, Araya, Forum Ventures, Secways)
• Agora Labs 🇮🇹 (Healthcare): €4.3M (P101 SGR, Mussetto family)
• Cortas 🇩🇰 (Proptech): €1.47M (PSV Tech, EIFO, JRNY Capital, founders of Flatpay and Spirii)

Fund Watch

• Advent International 🇺🇸: $30B (GPE XI and new mid-market strategy, raised)
• Disruptive 🇺🇸: $10B (first blind-pool fund for late-stage AI and defense companies)
• PennantPark 🇺🇸: $1.2B (2nd senior credit fund)
• Vintage Investment Partners 🇮🇱: $920M (VC fund-of-funds and secondaries strategies)
• Ascertis Credit 🇬🇧: $700M (4th private credit fund, $1B target, raised)
• Kline Hill 🇺🇸: $400M (2nd VC secondaries fund, raised with Cendana)
• Keyhaven Capital Partners 🇬🇧: $112M (continuation vehicle for Novation Tech, led by Committed Advisors)

🔔IPO

• Anthropic 🇺🇸 (AI): filed publicly for an IPO planned for the week of November 16.
• Meta 🇺🇸 (Technology): seeking to raise $95B in a share sale to fund AI capital expenditure.
• Aspen Neuroscience 🇺🇸 (Biotech): launched its IPO roadshow.
• Bambusa Therapeutics 🇺🇸 (Biotech): launched its IPO roadshow.
• Applied Materials 🇺🇸 (Semiconductors): plans to raise its stake in Dutch BESI from 9% to 20%.
• General Motors 🇺🇸 (Automotive): moving its stock listing from the NYSE to Nasdaq.
• Redotpay 🇭🇰 (Fintech): considering a confidential US IPO filing at a $4B-$5B valuation.
• Jio Platforms 🇮🇳 (Telecoms): India’s largest-ever IPO. Shares surged after listing.
• Sembcorp Green Infra India 🇮🇳 (Renewables): talks to raise $400M through an India IPO.

🧳 Debt

• Anthropic 🇺🇸: secured $63B in financing from Bank of America, Blackstone, Citigroup and Morgan Stanley.
• SpaceX 🇺🇸: signed a $40B chip financing deal with Apollo 🇺🇸.
• QTS 🇺🇸: seeking $800M in private debt placement.
• Republic Business Credit 🇺🇸: provided a $1M factoring facility to a Southwestern fuel distributor.
• Scotiabank 🇨🇦: planning an SRT tied to approximately $2B of corporate loans.
• Colombia 🇨🇴: sold a record $5.2B in dollar-denominated bonds.
• BNP Paribas 🇫🇷: working on a record $18B SRT tied to large-company loans.
• Meituan 🇨🇳: seeking to raise $1B in offshore yuan bonds.
• Gaw Capital Partners 🇭🇰: seeking to refinance a $1.8B loan backed by Hong Kong shopping centers.
• Bizcap 🇦🇺: secured a $175M credit facility for North American growth.
• Saudi Aramco 🇸🇦: nearing a $10B revolving credit facility with global banks.

🎯 For a Few More Minutes…

• 🇫🇷 Booked Solidarity. Over 60 French book industry groups launch #SauvonsLaLecture, protesting a 25% state funding cut for reading initiatives and warning of a slow-motion cultural collapse. (France Info)
• 🇮🇹 Shell Shocked. As the Alps thaw, Italian soldiers are recovering more than 250 WWI munitions from the melting glaciers, proving that old wars never really leave the mountains. (Le Figaro)
• 🇳🇴 Royal Flush. Espen Høiby, brother of Norway's queen, is sued by 60 former students for alleged fraud after his expensive flight school collapsed, leaving them out €24K each. (Le Parisien)
• 🇨🇳 Red Flagged. Spanish football vanished from Chinese state TV after Kylian Mbappé’s comments on Mao Zedong, showing some fouls are strictly off-camera. (Le Figaro)
• 🇰🇷 Console Yourself. South Korea’s opposition says President Lee could learn more about national security from Call of Duty than from his own advisers. (Le Figaro)