๐ต๏ธโโ๏ธ Handwritten Signals
If you see the list, youโre not on it.
Scott Bessent walked into last Friday’s Camp David cabinet meeting with a notepad angled toward the photographers, on which a man who knows exactly where cameras stand had written: ยซย To Do: Buy Japanese Yen (JPY) $5-10 bil.ย ยป The most powerful finance ministry on earth now conducts monetary policy by stationery leak, somewhere between a hostage note and a grocery list. The staging worked. Tokyo torched roughly $52.8B in a single Thursday, the largest one-day intervention ever recorded, part of an $88B two-day salvage of a yen that had sagged to 163 per dollar, its worst level since the Plaza Accord era. The currency bounced. Kazuo Ueda’s BOJ, still serving 1% rates while inflation overshoots its target, then returned to doing nothing, which remains its most consistent policy.
Washington’s first joint yen purchase since 1998 was funded, of all things, in euros. The New York Fed rang Goldman and Morgan Stanley and sold European currency to buy Japanese currency on America’s behalf, an arrangement roughly as natural as settling a Tokyo bar tab in Deutschmarks. The reason is not diplomacy but plumbing: raising dollars would have meant selling Treasuries, and the long end of the bond market, already queasy after Fed chair Kevin Warsh’s press conference, could not be asked to swallow more paper. Hence the invitation for Japan to use the Fed’s FIMA facility, a pawnshop for central banks where Treasuries can be hocked for dollar liquidity on the strict understanding that nobody actually sells anything.
A reserve asset has exactly one job description: sellable, in size, at speed, without a phone call first. Dollars occupy 57% of global reserves, down from above 70% in 2000, precisely on that promise. Washington has now demonstrated that it would rather liquidate its euros and lend against its own bonds than watch an ally exercise the option. Grant Bessent this much: reallocating euros is subtler statecraft than the house style, which tends to arrive with a tariff schedule. The same stabilisation fund bailed out the Argentine peso before last autumn’s midterms, so at least the generosity is consistent. Trump called the operation ยซย a signal of friendship.ย ยป Friendship, in this arrangement, is the privilege of not being punished for selling what one owns.
Japan is the gentlest possible test case, an ally so loyal it asked permission to spend its own savings. The next large holder wanting out of Treasuries may not call ahead, and there will be no notepad, no facility, no communiquรฉ about disorderly movements. There will simply be a bid that Washington cannot politely decline. A reserve system survives on the belief that the exit exists. Last week, for the first time in a generation, the doorman was photographed standing in front of it.

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๐๏ธ Top Story
- ๐ฉ๐ช Terminal Suspicion. US sources point to Russian involvement in the Leipzig airport drone incident, while Germany hesitates to name names and escalate tensions. (Le Parisien)
- ๐ญ๐บ Baka to the Future. Hungaryโs parliament appoints Andrรกs Baka, ex-Supreme Court chief ousted by Orbรกn, as transitional president to oversee the countryโs post-Orbรกn political reboot. (El Pais)
- ๐ช๐บ Total Eclipse of The Heart. Europe braces for its first total solar eclipse in decades as crowds flock to the path of totality, hoping for a midday blackout. (New York Times)
- ๐ท๐บ Draft Expectations. Volodymyr Zelensky claims Russia is preparing to mobilize several hundred thousand more troops by the end of 2024, citing leaked Russian documents and warning Ukraine will try to disrupt the plan. (Le Monde)
- ๐บ๐ธ Friendly Firepower. The Trump administration finally admits its Yemen strikes killed 153 civilians and injured almost 250 more, according to a newly released Pentagon report. (Washington Post)
- ๐ง๐ท Poll Position. Lulaโs lead over Flavio Bolsonaro narrows to 9 points in the latest CNT/MDA poll, as Brazilโs October presidential race tightens. (Boursier)
- ๐จ๐ด Counting Losses. The official number of deaths from Colombiaโs deadly earthquake has been adjusted down to 216, while over 1,600 remain injured and rescue efforts persist. (France Info)
- ๐ฐ๐ท Spy Hard. South Korea arrests two Chinese nationals accused of spying on US-South Korean military communications, with both facing possible life sentences for enemy assistance. (Die Zeit)
- ๐ต๐ญ Running Mates. Sara Duterte is indicted for making death threats against President Marcos Jr, her former election partner, turning Philippine politics into a high-stakes grudge match. (Le Monde)
- ๐ณ๐ฟ Staying Alive. Prime Minister Luxon secures enough support in a party confidence vote to remain at New Zealand’s helm, at least until the next round of intrigue. (Bloomberg)
- ๐ฑ๐ง Dead End. The Lebanese parliament votes to end the death penalty, making history in a region where capital punishment is still the rule, not the exception. (France Info)
- ๐ธ๐พ Trial and Error. A Syrian court has sentenced ex-president Bashar al-Assad to death in absentia for war crimes after his December 2024 escape to Moscow, closing a chapter on 13 years of civil war. (Libรฉ)
- ๐ฟ๐ฆ Shaft End. Fourteen illegal miners died and eight were injured after a disused mine near Rustenburg collapsed, highlighting South Africa’s deadly shadow mining economy. (Le Figaro)
- ๐ฌ๐ง Heat Repeat. The UK breaks its record for 30C days in a year, as the Met Office warns of even higher temperatures and fresh health alerts this week. (Bbc)
- ๐ฌ๐ง Tapped Out. After the driest July since records began, nearly all of England and Wales are in drought, prompting fears that running water may not be guaranteed. (The Guardian)
- ๐บ๐ธ Return to Sender. Trump’s push to tighten mail-in ballot rules is halted again by a federal court, which expands the ban to all 50 states just months before midterms. (Die Zeit)
- ๐บ๐ธ Cabin Pressure. While Trump escaped Turkey via covert route, Rubio, Bessent, Miller, and White House staff remained on the decoy flight, mostly unaware of the real threat. (New York Times)
- ๐บ๐ธ Past Imperfect. Dr. Abdul El-Sayed wiped over 160 YouTube videos and numerous social posts supporting ยซย defundย ยป and radical policy swaps, hoping voters forget what Google remembers. (New York Times)
๐๏ธ Economy
- ๐ฉ๐ช Cloud Atlas. Nearly 90% of German companies rely on US digital services, with one third admitting to heavy dependence and many seeing serious risk if cut off. (Die Zeit)
- ๐ช๐บ Yuan Direction. China designates Deutsche Bank ๐ฉ๐ช as the first foreign yuan clearing bank in Europe, giving Frankfurt a new role in cross-border payments. (Bloomberg)
- ๐จ๐ญ Risky Business. Despite a drop in natural catastrophe losses, Swiss Re Institute flags wildfires as the insurance industry’s most rapidly escalating threat this year. (Wall Street Journal)
- ๐บ๐ธ Hawk Talk. Cleveland Fed president Beth Hammack calls for more than a modest rate hike to control inflation, warning that 25 basis points just will not cut it. (Boursier)
- ๐ต๐ฆ Water Mark. Daily auction prices for Panama Canal passage hit $1.1M, up 16-fold in a year, with El Niรฑo and Iran war bottling up supply. (Financial Times)
- ๐บ๐ธ Chicken Little. poultry companies like Tyson Foods face falling profits as a glut of chicken floods the market and drives prices down, just as new food rules are floated. (Wall Street Journal)
- ๐บ๐ธ Yield Hunters. CLO exchange-traded funds attracted $2.3B last month as investors sought higher returns in a market hooked on floating-rate risk. (Cnbc)
- ๐บ๐ธ Fuel Circle. Phillips 66 ๐บ๐ธ once fled California’s tough climate but now leads a $5B pipeline project to bring Texas fuel straight to the Golden State. (Wall Street Journal)
๐ข Real Estate
- ๐ฉ๐ช Deficit City. Burkhard Jung says German municipalities are running โฌ30B short each year, with morale in local government at a record low. (Die Zeit)
- ๐ฌ๐ท Silver Surfers. Trikala, famed for its early smart city moves, now bets on tech to keep pace with its increasingly elderly residents. (Les Echos)
- ๐บ๐ธ Tower Defense. Donald Trump vows to fight New York City’s new pied-ร -terre tax on luxury second homes, exploring whether federal power can block it entirely. (Cnbc)
- ๐ฌ๐ง Stamp Out. Andy Burnham is considering scrapping stamp duty and overhauling property taxes to fund social care and defence, putting homeowners on notice. (The Guardian)
- ๐ฌ๐ง Artificial Grievances. UK property managers face a wave of AI-assisted tenant complaints, many citing inaccurate laws and turning minor issues into major paperwork. (Financial Times)
- ๐บ๐ธ House of Cards. Mat Ishbiaโs United Wholesale Mortgage ๐บ๐ธ lost $600M on a risky bet, suspended dividends, and needed a bailout from Oaktree Capital as shares collapsed 35%. (Wall Street Journal)
- ๐บ๐ธ Home Alone. Invitation Homes CEO Dallas Tanner says the new ban on institutional homebuying will eventually lower prices, but buyers should not expect relief anytime soon. (Cnbc)
- ๐บ๐ธ Mansion Fog. A looming NYC tax on luxury second homes over $5M triggers widespread confusion among wealthy owners and their advisors about the rules. (Wall Street Journal)
- ๐บ๐ธ Sale Away. Existing home sales in the slipped 1.7% in July, as the marketโs summer debut matched its spring slump. (Wall Street Journal)
๐ On-chain
- ๐ฌ๐ง Bank Blockers. Parliamentarians are pressing UK banks to explain why crypto and digital asset firms face routine rejections and strict payment limits. (FinExtra)
- ๐บ๐ธ Betting on Order. With the NFL and elections looming, Polymarket brings in ex-Bird and Robinhood execs to clean up its act before the boom. (Cnbc)
- ๐บ๐ธ Odds in the Air. FlightAware has filed suit against Kalshi, claiming the prediction market is profiting from unauthorized use of its flight cancellation data. (Wall Street Journal)
๐ฑ Listed Markets
- ๐ธ๐ช Artificial Labeling. Spotify ๐ธ๐ช plans to tag AI-created tracks with an ยซย AI Personaย ยป badge, making it clear when the singer is silicon, not human. (Le Figaro)
- ๐บ๐ธ Cloud Nine. CoreWeave ๐บ๐ธ shares soared after the company reported $2.58B in quarterly revenue, doubling last yearโs figure and boasting a $104B sales backlog. (Wall Street Journal)
- ๐บ๐ธ Chip Shot. Nvidiaโs $2.3T market cap and surging profits calm credit markets, showing that even Wall Street needs a little silicon reassurance. (Bloomberg)
- ๐บ๐ธ Billion Dollar Baby. Sundar Pichai announces Gemini has crossed 1B monthly users, giving Google a much-needed headline as rivals outpace its AI tech. (Le Parisien)
- ๐บ๐ธ Crude Awakening. Oil prices briefly hit $90 a barrel as the US-Iran standoff chokes the Strait of Hormuz and fuels fears of renewed inflation. (New York Times)
- ๐ฏ๐ต Disconnected. Rakuten ๐ฏ๐ต stock plunged as its mobile division rang up bigger losses, reminding investors that not every call pays off. (Bloomberg)
- ๐ฐ๐ท Chip Shot. Shares of SK Hynix ๐ฐ๐ท and Samsung ๐ฐ๐ท jumped after a bullish Temasek report fueled fresh optimism for Koreaโs semiconductor giants. (Bloomberg)
- ๐บ๐ธ Star Exit. Paramount is threatening to leave California if the state does not drop its antitrust suit blocking the $81B Warner Bros. Discovery merger, making Hollywood itself negotiable. (Wall Street Journal)
- ๐บ๐ธ Margin Call. Super Micro Computer ๐บ๐ธ surprised investors with a 17.5% gross margin in Q4, blowing past its own guidance as profits soared. (Wall Street Journal)
๐๏ธ Big Deals (M&A)
- Fondazione Giorgio Armani ๐ฎ๐น to sell 15% of Armani ๐ฎ๐น. Sale process may be delayed beyond the March 2027 deadline, with priority given to LVMH, L’Orรฉal and EssilorLuxottica, timeline and valuations still preliminary.
- GameStop ๐บ๐ธ may withdraw its $56B bid for eBay ๐บ๐ธ and could propose a partnership or JV instead.
- Nvidia ๐บ๐ธ will invest up to $3B for a 30% stake in Lancium ๐บ๐ธ, a Blackstone-backed power infrastructure developer.
- Newmont ๐บ๐ธ pays Barrick ๐จ๐ฆ $1.95B as both contribute assets to their Nevada JV, paving way for Barrick’s planned IPO of its North America gold assets.
- Safe Harbor Marinas ๐บ๐ธ, backed by Blackstone, is nearing a deal to acquire MarineMax ๐บ๐ธ for $1.5B including debt at a 45% premium.
- Morgan Stanley ๐บ๐ธ-backed PNE ๐ฉ๐ช is struggling to fetch bids at its desired $1.5B valuation.
- Amkor Technology ๐บ๐ธ considers sale of its China business for $1B-$1.5B.
- Jazz Pharmaceuticals ๐บ๐ธ acquires Actio Biosciences ๐บ๐ธ in a $1.3B deal. Epilepsy-focused biopharma.
- Teledyne Technologies ๐บ๐ธ acquires Varex Imaging ๐บ๐ธ for $1.1B including debt, a 50% premium.
- I Squared Capital ๐บ๐ธ acquires oOh!Media ๐ฆ๐บ for $635M equity valuation after a bidding war with Pacific Equity Partners, Bain Capital, and Oaktree.
- Flowers Foods ๐บ๐ธ seeks to divest Tastykake ๐บ๐ธ for $350M.
- Archer Aviation ๐บ๐ธ acquires Wisk ๐บ๐ธ, SkyGrid ๐บ๐ธ, and Insitu ๐บ๐ธ from Boeing ๐บ๐ธ in exchange for a 20% stake.
- Beyonce ๐บ๐ธ acquires full control of SirDavis ๐ซ๐ท, a whisky brand, two years after acquiring it from LVMH.
- Uber ๐บ๐ธ sells its entire stake in Serve Robotics ๐บ๐ธ, disclosed in a regulatory filing after reductions began in 2025 and reportedly surprising Serve when it learned of the final selloff.
- Mari Group ๐บ๐ธ acquires ATG Entertainment ๐ฌ๐ง for $6B, buying the theater giant from Providence Equity Partners.
- Amex Ventures ๐บ๐ธ invests in Fazeshift ๐บ๐ธ, an AI-native platform deploying autonomous agents for end-to-end accounts receivable workflows. Builds on Fazeshift’s $22M Series A earlier this year.
- Nasdaq ๐บ๐ธ acquires LeveL Markets ๐บ๐ธ, an ATS off-exchange equity execution venue processing hundreds of millions of shares daily and serving 2,500+ clients. Terms not disclosed.
- Francisco Partners ๐บ๐ธ acquires Moneris ๐จ๐ฆ for C$2B cash from Royal Bank of Canada ๐จ๐ฆ and Bank of Montreal ๐จ๐ฆ. Payments processor handles ~1/3 of Canadian transactions, ~2,000 employees, banks reach long-term referral agreements, Jeff Sloan to join as chairman.
- a Venezuelan party ๐ป๐ช acquires Bluewave Properties ๐บ๐ธ for $300M after sanction pressure from US
- National Gas Company ๐น๐น acquires the Venezuelan portion of the Cocuina-Manakin natural gas field ๐ป๐ช from BP ๐ฌ๐ง, taking a 20% stake.
- Guotai Haitong Securities ๐จ๐ณ offers to take Guotai Junan International ๐ญ๐ฐ private at a $3.65B valuation, a 45% premium.
- Samsung SDI ๐ฐ๐ท acquires GM ๐บ๐ธ’s 50% stake in their $3.5B EV battery JV in Indiana.
- Webtoon Entertainment ๐ฐ๐ท acquires RI Games Holdings ๐ฐ๐ท for $100M, taking a 60% stake.
- Samsung SDI ๐ฐ๐ท acquires a 49.99% stake in SynergyCells ๐บ๐ธ from General Motors ๐บ๐ธ, a $3.5B U.S. battery JV for batteries and energy storage systems.
- Purvah Green Power ๐ฎ๐ณ acquires some solar from ReNew Solar Power ๐ฎ๐ณ at a $510M enterprise valuation.
- Tabcorp ๐ฆ๐บ acquires BetMakers Technology Group ๐ฆ๐บ for $190M valuation.
- Blackstone ๐บ๐ธ and La Caisse ๐จ๐ฆ acquire Air Canadaโs Aeroplan loyalty program ๐จ๐ฆ for about $2B, taking a 25% stake.
- Curaleaf ๐บ๐ธ acquires Aurora Cannabis ๐จ๐ฆ for $272M ($4 a share) in an unsolicited takeover bid.
- Amberjack Capital ๐บ๐ธ acquires PMV Automation ๐บ๐ธ from Flowserve ๐บ๐ธ in partnership with industry veterans Joseph Jobe and Micah Floyd, establishing PMV as an independent provider of valve automation solutions.
- Hanwha ๐ฐ๐ท offers to buy Austal USA ๐บ๐ธ for $1.05โ$1.2B, a builder of ships and submarine parts for the U.S. Navy.
๐งณ Private Markets & VC
- ๐ฌ๐ง Class Action. Private equity groups like Galileo Global Education are circling struggling UK universities, seeing opportunity where students see crisis and fees keep climbing. (Financial Times)
- ๐บ๐ธ Family Plan. Phia, the e-commerce app led by Bill Gatesโ daughter Phoebe, secures $43M in funding, reminding everyone that connections always check out. (Bloomberg)
- ๐บ๐ธ Exit Strategy. Brad Lightcap, who helped build OpenAIโs business backbone, departs to โstart something new,โ adding to the companyโs string of high-profile exits. (TechCrunch)
- ๐บ๐ธ Ghost in the Text. Anthropic unveils a hidden statistical watermark for every Claude AI output, promising undetectable tagging for regulators and visible headaches for content copiers. (Le Parisien)
- ๐จ๐ณ Unfriended. Meta ๐บ๐ธ must unwind its $2B acquisition of AI startup Manus after Chinese regulators blocked the deal, sending Manus back to independence. (Cnbc)
Fundraising
- OpenAI ๐บ๐ธ (AI): $7B (secondary)
- Erebor Bank ๐บ๐ธ (Fintech): $1.5B (8VC, Lux Capital, Valor Equity Partners, a16z)
- River AI ๐บ๐ธ (AI): $1.1B (General Catalyst, AMP PBC, Nvidia, AMD Ventures, Y Combinator, Temasek)
- Lumilens ๐บ๐ธ (Networking): $900M (Atreides Management, Bain Capital Ventures, Meritech, Seligman Ventures, Spark Capital, Addition, Alkeon, Harbourvest, J.P. Morgan Private Capital, Mayfield, MVP Ventures, Qualcomm Ventures, Peak XV, Redpoint Ventures, Seifdune)
- H&MV Engineering ๐ฎ๐ช (Engineering): โฌ750M (Exponent, Apollo S3, Pantheon, SQ Capital)
- Cambridge Aerospace ๐ฌ๐ง (Aerospace): $300M (DFJ Growth)
- Neros Technologies ๐บ๐ธ (Defense): $250M (Sequoia Capital, American Strategic Technology Fund, Interlagos, Valor Equity Partners, Allen & Company, Thiel Capital, Spark Capital, Dylan Field)
- Vaderis Therapeutics ๐จ๐ญ (Biotech): $152M (Medicxi, Goldman Sachs Alternatives, TCGX, Omega Funds)
- Yulu ๐ฎ๐ณ (Mobility): $93M (GEF Capital Partners)
- Epicrispr Biotechnologies ๐บ๐ธ (Biotech): $90M (Octagon Capital, Janus Henderson Investors, Fidelity Management & Research Company, Cormorant Asset Management, Duquesne Family Office, Sanofi Ventures, abrdn Inc., Angelini Ventures, Readout Capital, existing investors)
- Obsidian Security ๐บ๐ธ (Cybersecurity): $85M (Crescent Cove Advisors, Greylock Partners, Menlo Ventures)
- Infinimmune ๐บ๐ธ (Biotech): $75M (Regeneron Ventures, Playground Global, RA Capital Management, Goldcrest Capital, Forge Life Science Partners, Godfrey Capital, Wild Tree Ventures, Merck Global Health Innovation Fund, Everbright Biofund, Civilization Ventures, Pear VC)
- Corma ๐ฎ๐ฑ (Cybersecurity): $60M (Sequoia Capital, Khosla Ventures, Coatue)
- Vedanta Biosciences ๐บ๐ธ (Biotech): $60M (AMR Action Fund, BNP Paribas Asset Management Alts, BARDA)
- Flagler Health ๐บ๐ธ (Healthcare): $50M (Bessemer Venture Partners, SignalFire, Alumni Ventures, Streamlined, 186 Ventures, Proof VC, Tribeca Venture Partners, Offscript)
- Silicon Data ๐บ๐ธ (AI infrastructure): $30.5M (Valor Atreides AI Fund, CME Group, DRW, F-Prime, Samsung, VanEck, Further, Jump, Tectonic, Wintermute, Breed, Hack, Blank VC, Sancus Ventures, SoGal Ventures)
- Bios Life ๐บ๐ธ (Healthcare): $25M (Redmile, Vsquared Ventures, Kindred Capital)
- VibeIQ ๐บ๐ธ (Retail): $22.5M (Volition Capital, Venture Guides)
- Baselayer (Identity): $20M (Koro Capital, M13)
- Axle ๐บ๐ธ (Insurance): $17.5M (Base10 Partners, Y Combinator, Gradient, Stage 2 Capital, founders of Cover Genius, early team at Plaid)
- Pro Padel League ๐บ๐ธ (Sports): $15M (Rick Schnall)
- RWX ๐บ๐ธ (DevTools): $12M (Hyde Park Venture Partners, Quiet Capital, The O.H.I.O. Fund, R1 Capital, DV, Bryan Johnson, Kohsuke Kawaguchi)
- Discovered Materials ๐ฎ๐ณ (Materials): $9M (Lightspeed India Partners)
- Soctera ๐บ๐ธ (Semiconductor): $4M (Anorak Ventures, Multiball Capital, 9Yards Capital, Mana Ventures, Red Bear Ventures)
- House of Student ๐บ๐ธ (Proptech): $2M (Saltwater Sutra, Nirmitsu Inspirational Ventures, Gautam Verlekar, Glen Fernandes, Richard McCallum, Ali Moosa, existing investors from Unilodgers, other strategic investors)
- WashWise ๐บ๐ธ (Consumer): $1.2M (FJ Labs, Singh Capital, Alex Jekowsky, Jack Abraham, Brian Tate, Gigi Howard, Nina Farran, Mia Tonelli, Taylor James, Brown Girl Angels, executives from Pickle, The Business of Fashion, Dior, SoulCycle, Soho House, Apple, J.P. Morgan)
Fund Watch
- Accel ๐บ๐ธ: $550M (India fund, oversubscribed, part of $3.5B global raise)
- Mido Capital ๐บ๐ธ: $100M (debut VC fund, raising)
๐IPO
- Intel ๐บ๐ธ (Semiconductors): plans to raise $20B in an upsized share sale, its first since listing 55 years ago.
- Duke Energy Corp ๐บ๐ธ (Energy): plans to raise $1.75B in a share sale.
- Lyntris ๐บ๐ธ (Sensors): seeking to raise $530M in an IPO at a $2.5B valuation.
- Unitree ๐จ๐ณ (Robotics): retail tranche was over 5,500x oversubscribed as its IPO raised about $900M, valuing the company at $9B.
- Turing ๐ฏ๐ต (Self-driving): targeting a $10B valuation in a potential U.S. IPO within the next five years.
- Shein ๐ญ๐ฐ (Retail): plans a Hong Kong IPO from Aug. 19 targeting a $30โ40B valuation.
- DayOne Data Centers ๐ธ๐ฌ (Data centers): planning a US IPO as soon as next quarter to raise about $5B, potentially valuing the company near $20B.
- DatVietVAC ๐ป๐ณ (Media): pursuing a local IPO at a $232M valuation.
๐งณ Debt
- Apollo ๐บ๐ธ: in talks to help back a $500B AI infrastructure investing package for Nvidia.
- Cloudflare ๐บ๐ธ: seeks to sell $2.2B of convertible notes.
- IBM ๐บ๐ธ: raised $2B in a Canadian bond sale.
- TCP Capital Corp. ๐บ๐ธ: selling a $523M portfolio of private-credit stakes to shore up its balance sheet.
- Global AI ๐บ๐ธ: raised $440M in debt financing led by JPMorgan.
- Gabriel India ๐ฎ๐ณ: talks for a local-FX bond sale to fund two acquisitions totaling $330M.
- Undisclosed precision metal coating company ๐บ๐ธ: raised $2.5M in receivables financing from Republic Business Credit and a family office.
โ Failures
- The Italian Sea Group ๐ฎ๐น: launched a sale process as part of its restructuring efforts.
- Glencore ๐จ๐ญ: part of a consortium that proposed a rescue deal for troubled Canadian miner Sherritt International.
- 777 Partners ๐บ๐ธ: fraud-marred, sports-focused PE firm filed for Chapter 11 after creditors moved to liquidate its remaining assets.
๐ฏ For a Few More Minutesโฆ
- ๐ฉ๐ช Family Feud. In their Bavarian hometown, Adidas and Pumaโs rivalry turned the World Cup into a fresh chapter of the Dassler brothersโ legendary grudge. (Le Monde)
- ๐บ๐ธ Help Button. After a stranded boat claimed Zuckerberg’s yacht failed to assist off Alaska, his spokesperson says he was absent and the Coast Guard handled it. (Le Parisien)
- ๐ฐ๐ท Shark to Idol. Park Geon-roung, the seven-year-old star of the ยซย Baby Sharkย ยป video, is set to debut as a K-pop singer with backing from Pinkfong. The company hopes lightning can strike twice for its viral sensation. (Bbc)
- ๐ธ๐ฑ Kush and Effect. In Sierra Leone, a cheap synthetic drug called kush is devastating young lives, causing instant addiction and deadly wounds for just $0.40 a hit. (Le Temps)
- ๐ฟ๐ผ Gift Economy. Zimbabweโs elite outdo themselves as the son of mogul Kudakwashe Tagwirei weds with $20M in gifts and a guest list that includes the president, turning a wedding into a masterclass in clientelism. (Le Monde)
- ๐ Dark Omens. Religions across history have viewed solar eclipses as powerful signs, with interpretations ranging from divine warnings to apocalyptic fears. (Le Monde)
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