🤹‍♂️ Oops, I Did It Again

🗞️ Top Story

• 🇬🇧 Silent Quad. Cambridge mourns Jason Arday after his unexpected passing, leaving the historic college in shock and sparking tributes across the academic world. (Washington Post)
• 🇪🇸 Nuclear Option. Spain, hailed as a renewables leader, will keep its Almaraz nuclear plant running until 2030 instead of shutting it down in 2027, giving atomic energy a last-minute encore. (Les Echos)
• 🇩🇰 Red Line. Danish PM Mette Frederiksen, once a left-wing idealist, now champions some of Europe’s toughest anti-immigration policies, joining Italy’s Meloni in demanding offshore deportation centers. (El Pais)
• 🇪🇺 Visa La Vista. The EU’s much-delayed ETIAS travel permit quietly loses its 2026 launch date, with 2027 now the consensus after border tech chaos derails the timeline. (Le Figaro)
• 🇪🇺 Locked and Loaded. Estonia agrees to host Sweden’s overflow of serious offenders for a fee, as both countries claim victory while rights groups warn of a growing market for rented justice. (El Pais)
• 🇺🇸 Friendly Fire. Trump announces a major cutback in participation in South Korea war games, arguing they send the wrong message to Kim Jong-un, whose friendship he continues to praise. (Le Temps)
• 🇺🇸 Deal or No Deal. Jared Kushner sat down with Hamas officials in Egypt as Trump’s Gaza plan faces resistance from both Israel and the militants. (New York Times)
• 🇺🇸 Independence Day? Todd Blanche declines to guarantee he will always act without White House influence, arguing that absolute autonomy is unrealistic for any attorney general. (New York Times)
• 🇧🇷 Quad Goals. Lula da Silva, now 80, launches his campaign for a fourth presidential term in Brazil, vowing to block the right’s return and cement his legacy. (El Pais)
• 🇨🇳 Ice Breaker. China has sent its first container ship to Europe via the Arctic, launching a shortcut that halves the usual Suez route and raises climate alarms. (France Info)
• 🇮🇩 Ground Rules. Indonesia’s east was rocked by a 7.7-magnitude quake that left at least 40 dead and sent residents scrambling for higher ground. (Le Monde)
• 🇨🇩 Viral Record. The Ebola outbreak in DR Congo has now killed 2,325 people, making it the deadliest in the country’s history with cases still rising. (Bbc)

• 🇬🇧 Fraud and Order. George Cottrell, a convicted fraudster known as « Posh George, » remains a key adviser to Nigel Farage despite his criminal past and ongoing scrutiny over undisclosed gifts and donations. (New York Times)
• 🇬🇧 Jury of Peers. With police and Parliament circling, Nigel Farage resigns and reclaims his seat, insisting the only verdict that matters is from Clacton’s ballot box. (New York Times)
• 🇬🇧 CC Confidential. A monthly update on the Al Fayed investigation revealed 140 victims’ email addresses to each other, prompting the Met to issue a public apology and notify regulators. (Bbc)

• 🇺🇸 Storm Approval. Hurricane Lala strikes Hawaii while President Trump authorizes FEMA disaster aid for Indiana, reminding everyone that weather and politics never take a break. (Bloomberg)
• 🇺🇸 Carrier On. Trump dismissed concerns about the U.S.S. Abraham Lincoln’s extended mission, telling worried families there is nothing to see and no reason to stop. (New York Times)
• 🇺🇸 Left Out. Polls show Dr. Abdul El-Sayed lagging behind Republican Mike Rogers in Michigan, prompting Democrats to worry their progressive pick might backfire. (New York Times)

🏛️ Economy

• 🇬🇧 False Start. Paul Taylor, ex-bricklayer turned financier, has been fined £489K and banned by the FCA for faking a €200M bond portfolio in failed bids for a UK bank and Reading FC. (Financial Times)
• 🇩🇪 Trip and Save. German travel agencies report a 4 percent rise in package tour sales this summer, but travelers are cutting back on extras abroad as war jitters linger. (Die Zeit)
• 🇪🇺 On Track. Eurostat reports eurozone GDP grew 0.4% last quarter, right in line with market expectations and offering no surprises for analysts. (Boursier)
• 🇺🇸 Sale Away. Soft retail sales figures pushed Treasury prices higher, cooling expectations for another Fed rate increase this year. (Bloomberg)
• 🇺🇸 Premium Outrage. After Brian Thompson’s murder, public fury toward UnitedHealth Group 🇺🇸 and other insurers has only intensified, as soaring premiums and opaque billing fuel lasting resentment. (New York Times)
• 🇺🇸 Jet Set, Reset. The AI boom has minted a new class of young billionaires who are snapping up jets, yachts, and hyper-customized cars, leaving old-school luxury in the dust. (Financial Times)
• 🇨🇳 Love Blocked. China rolls out the world’s first nationwide rules banning AI chatbots from fostering romantic or addictive bonds with users, leaving millions of digital lovers suddenly ghosted by regulation. (El Pais)
• 🇯🇵 Yen of Fire. Traders are ramping up bets against the yen despite US intervention, pushing the currency back toward its lows and daring policymakers to act. (Financial Times)
• 🇮🇳 Power Play. Prime Minister Narendra Modi’s Independence Day speech puts semiconductor manufacturing and nuclear energy at the center of his vision for a developed India by 2047, with self-reliance and AI as supporting acts. (Bloomberg)

• 🇬🇧 Benefit of the Doubt. Reform UK proposes cutting £50B from welfare by scrapping the current disability payments system, affecting nearly 3M people and replacing it with stricter eligibility. (Bbc)
• 🇬🇧 Cash Crop. Andy Burnham unveils a £65M aid package for drought-stricken UK farmers after Labour MPs accused him of dragging his feet on climate action. (The Guardian)
• 🇬🇧 Tax and Threat. Jamie Dimon warns UK chancellor John Healey that higher bank taxes could drive jobs out of London, as JPMorgan weighs its $3.9B Canary Wharf investment. (Financial Times)

🏢 Real Estate

• 🇪🇸 Ashes to Ashes. Spain rushes to save the ancient San Juan de la Peña monastery from encroaching wildfires, relocating medieval kings’ remains as flames approach. (Le Figaro)
• 🇦🇱 Resort and Report. Kushner’s coastal project in Albania draws crowds. Of protesters and prosecutors. After allegations of money laundering and cocaine links surface. (Spiegel)
• 🇺🇸 Byte the Dust. Delsia Bare and Ida Huddleston refused $26M for their Kentucky farmland once they learned it would be paved over for AI servers, not sown for the next generation. (Wall Street Journal)
• 🇲🇾 Chip Happens. Malaysia quietly cashes in on the global AI and data center surge, posting 6% GDP growth as chip exports and foreign investment pour in. (Financial Times)

• 🇬🇧 Crowning Glories. King Charles and Prince William face a £10M bill to upgrade hundreds of rental homes on their estates to meet new energy rules by 2030, putting their green reputations on the line. (The Guardian)

• 🇬🇧 Price and Prejudice. Newly listed homes in Kensington and Chelsea saw asking prices drop by £100K in a month as sellers race to undercut each other. (The Guardian)
• 🇺🇸 Fixer-Upper Frenzy. Baltimore’s once-ignored abandoned homes are suddenly in demand, with buyers outbidding each other as affordable options vanish elsewhere. (Wall Street Journal)

🔗 On-chain

• 🇺🇸 Bank Shot. World Liberty, a crypto firm 38% owned by Trump family interests, just scored conditional approval for a national bank charter from regulators. (Cnbc)

💱 Listed Markets

• 🇩🇪 Sole Purpose. Birkenstock raises its sales outlook after a summer surge in demand, sending shares up 15% and proving comfort is big business. (Les Echos)
• 🇺🇸 Scroll Control. Thirty states want Meta to overhaul Instagram and Facebook for kids, threatening to end likes, filters, and endless feeds if the company loses in court. (Bbc)
• 🇺🇸 Heavy Metal. Gold prices surge to nearly $4,400 as disappointing retail data drags the dollar down and investors rush for cover. (Bloomberg)
• 🇺🇸 Alphabet Soup. Berkshire Hathaway added $17B to its Alphabet stake in Q2, making Google’s parent its third-largest holding after Apple and AmEx. (Cnbc)
• 🇺🇸 Huang’s Orbit. Nvidia 🇺🇸 now owns $21B of SpaceX, showing just how tightly its chips and capital are intertwined with Musk’s ambitions. (Financial Times)
• 🇧🇷 Amazon Prime. Petrobras 🇧🇷 announces signs of oil off the Amazon coast, igniting hopes for new reserves and outrage from environmental groups in equal measure. (Le Figaro)
• 🇻🇪 Back in the Game. BP 🇬🇧 has officially resumed operations in Venezuela, signing on to lead a vast offshore gas project as US sanctions ease and foreign majors pile in. (Boursier)

• 🇺🇸 Born in the USA. The Detroit rivalry shifts gears as Ford and GM 🇺🇸 each argue they are the true American icon, with tariffs fueling the contest. (Wall Street Journal)

🛎️ Big Deals (M&A)

• Stellantis 🇳🇱 sells Brampton plant 🇨🇦 after informing the union it is considering closing and selling the Toronto-area factory.
• Diana Shipping 🇬🇷 drops its bid to acquire Genco Shipping & Trading 🇲🇭, ending a nearly year-long takeover battle between the two shipping companies.
• EQT 🇸🇪 offers a $4.9B LBO for Cleanaway Waste Management 🇦🇺 at a 32% premium.
• Samsonite 🇱🇺 to buy an 85% stake in Béis 🇺🇸 for $178M in cash.
• Stripe 🇺🇸 and Advent 🇺🇸 bid to acquire PayPal 🇺🇸 for $53B (offer of $60.50/share), talks reportedly heating up.
• Madison Square Garden Sports 🇺🇸 to spin off New York Rangers 🇺🇸 into a separate public company managing the hockey business, splitting it from the Knicks operations.
• Nvidia 🇺🇸 to invest $3B in SB Energy 🇯🇵 as part of talks with OpenAI on roughly $100B in credit support for a planned Ohio data center campus.
• Silver Lake 🇺🇸 is in talks to acquire Workday 🇺🇸 in a $50B LBO.
• Candle Lake 🇺🇸 makes a mandatory $13.8B cash takeover offer for Evolution 🇸🇪, the Swedish betting firm.
• Thoma Bravo 🇺🇸 will LBO Accelerant 🇺🇸 for $4B at a 50% premium, an insurance marketplace.
• Diversified Energy 🇺🇸 is in advanced talks to acquire Elliott-backed Birch Resources 🇺🇸 for $1.7B in cash, oil & gas sector.
• Polymarket 🇺🇸 acqui-hires Turf 🇺🇸, a sports prediction startup.
• SpaceX 🇺🇸 acquires Cursor 🇺🇸 for $60B, AI coding startup officially closed into SpaceX after an April agreement.
• Stripe 🇺🇸 acquires OpenRouter 🇺🇸 for $7B+, the AI gateway startup that raised $113M Series B at a $1.3B valuation and claimed 8M users, offering a single access point to 400+ models.
• Alibaba Group 🇨🇳 sells Lingxi Games 🇨🇳 to Trustar Capital for $1.5B.
• L’imad 🇦🇪 offers to delist AD Ports 🇦🇪 in an $8.66B deal.

• Charlie Ergen 🇺🇸 takes a controlling stake in MobileX 🇺🇸 for $200M via his SPAC CONX.
• KKR 🇺🇸 offers to acquire First Gen 🇵🇭. Parent rejects the bid and shares plunge 19%.
• WindRose Health Investors 🇺🇸 recapitalizes Verified Clinical Trials 🇺🇸, appointing Howard Miller as CEO and leaving founders Mitchell Efros and Kerri Weingard actively involved. Terms not disclosed, clinical-trial patient safety and data-integrity solutions.

🧳 Private Markets & VC

• 🇩🇪 Growth Hacking. Finance Minister Klingbeil wants to fix Germany’s start-up capital shortage with tax incentives, hoping to turn local founders into global players. (Die Zeit)
• 🇩🇪 Yield of Dreams. Germany’s historic €500B pension shift draws asset managers worldwide, all hoping to cash in on the country’s new investment strategy. (Bloomberg)
• 🇲🇹 Candy Crush. EverAI’s CandyAI platform attracts over 47M monthly visits with its AI-powered adult roleplay, making Malta a discreet hub for digital desire. (Le Monde)
• 🇺🇸 Mind Games. Selena Gomez and her mother are accused in a federal lawsuit of defrauding investors by exaggerating Wondermind’s resources and partnerships while quietly letting the mental health startup unravel. (New York Times)
• 🇺🇸 Talk Is Steep. « Hill-climbing » escapes machine-learning circles and conquers Silicon Valley boardrooms, proving tech jargon always finds a way up. (Wall Street Journal)
• 🇺🇸 Claude Nine. Anthropic’s revenue soared to $11.5B in Q2, up over 14 times from last year, as the Claude chatbot rides the AI gold rush toward a blockbuster IPO. (Cnbc)
• 🇺🇸 Venture Capitalism. Robinhood launches its second public venture fund, letting retail investors buy into private startups with $200M raised at IPO and plenty of risk on the side. (New York Times)
• 🇺🇸 Signature Move. Anthropic unveils how Claude’s new watermark will embed undetectable markers in chatbot replies, prompting some users to cancel over fears of tracking. (TechCrunch)
• 🇺🇸 AI Caramba. Joshua Kushner’s Thrive Capital warns West Coast rivals that AI euphoria is no excuse for abandoning investment discipline, even as everyone rushes to cash in. (TechCrunch)

Fundraising

• Databricks 🇺🇸 (AI): $5B (Coatue)
• Base Power 🇺🇸 (Energy): $1B (Ribbit, Addition, Valor Equity Partners, JPMorganChase’s Strategic Investment Group, Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, Energy Impact Partners, Thrive Capital, a16z, Lightspeed, Trust Ventures, CapitalG)
• Valar Atomics 🇺🇸 (Energy): $1B (Sequoia Capital, Apandion, Atreides Management, Conviction, Dream Ventures, HOF Capital, Point72, Riot Ventures, Snowpoint Ventures, Valor Equity Partners)
• Kalshi 🇺🇸 (Fintech): $750M (Sequoia, Wellington)
• Whatnot 🇺🇸 (eCommerce): $545M (ICONIQ, Lightspeed, Avra, Kleiner Perkins, Wellington Management, Standard Capital, Andreessen Horowitz, Bond, DST Global, Greycroft, Y Combinator, CapitalG)
• Lovable 🇸🇪 (AI): $400M (Menlo Ventures, Scaleup Europe Fund)
• ServBanc Holdco, Inc. 🇺🇸 (Banking): $90M
• Aligned Marketplace 🇺🇸 (Healthcare): $20M (Venrock)
• AGent Energy 🇺🇸 (Energy): $11M (Spero Ventures, MassMutual Ventures)
• Worldscape 🇺🇸 (AI): $10M (Scout Ventures, Radius Capital)
• Riven Systems (Critical minerals): $7.9M (Cerberus Ventures)
• Lemma 🇺🇸 (AI): $2.3M (Matrix, Y Combinator, Liquid 2 Ventures, Vermilion Cliffs Ventures, Irregular Expressions, Cervin Ventures, Comma Capital, Position Ventures, Eight Capital, angels and operators from OpenAI, xAI, Meta, DoorDash)
• Cobi 🇦🇪 (AI): $1M (Lunara Partners, Plug and Play, Annex Investments, Spring)

Fund Watch

• Blackstone 🇺🇸: $3B (collateralized fund obligation backed by secondaries stakes, being considered abandoned)
• Layer Global 🇺🇸: $1.1B (debut VC fund)
• Edelweiss 🇮🇳: $700M (4th special opportunities fund, $1B target)
• Pershing Square 🇺🇸: undisclosed (evergreen VC fund to hold pre-IPO startup stakes)

🔔IPO

• Anthropic 🇺🇸 (AI): expected to IPO at a $2T valuation.
• Vantage Data Centers 🇺🇸 (Data centers): exploring an IPO or sale at a $100B valuation.
• Robinhood 🇺🇸 (Fintech): raised $225M for its second listed VC fund to invest in Y Combinator-backed startups.
• Kiwimoore 🇨🇳 (Semiconductors): confidentially filed for a Hong Kong IPO targeting a $2B valuation.
• Sembcorp 🇸🇬 (Energy): said to plan a $500M IPO for its India unit.
• ZUS Coffee 🇲🇾 (Coffee): considering raising $245M at a $1B valuation in a Malaysia IPO of its Malaysia business.
• Minor International 🇹🇭 (Hotels): delayed a $1B Singapore listing of a new hotel REIT.
• Navi 🇮🇳 (Fintech): preparing to raise $315M an India IPO.
• Svatantra Microfin 🇮🇳 (Microfinance): Advent-backed Indian non-bank lender filed for a $315M IPO.

🧳 Debt

• DWS Group 🇩🇪: will back Frankfurter Leben’s purchase of Athora’s German unit to tap insurers’ capital pools.
• AMD 🇺🇸: seeking to raise $4B–$5B in a bond sale.
• Guggenheim 🇺🇸: Mark Walter offered to pledge his stake to secure loans for his insurance companies, now under federal investigation.
• Telesat 🇨🇦: raised a $120M term loan as it prepares to handle $2B of maturing debt.

• Glencore 🇨🇭: to receive $1B loan from Korea Eximbank for copper supply.
• Hadrian 🇺🇸: closed a $360M revolving credit facility to accelerate its U.S. manufacturing buildout.

❌ Failures

• Frasers 🇬🇧: acquired luxury department store chain Harvey Nichols out of insolvency, beating rival Next.
• Modernland Realty 🇮🇩: seeking to restructure a $274.5M bond for a second time, proposing to extend its maturity and swap it for perpetual, asset‑backed securities.
• Australia 🇦🇺: bailed out a Rio Tinto–controlled aluminum smelter with an A$1.8B rescue package.

🎯 For a Few More Minutes…

• 🇮🇹 Current Affairs. Ferrari’s first all-electric Luce sold for a record $40M at RM Sotheby’s auction, sparking both headlines and purist outrage over the brand’s new direction. (Bbc)
• 🇮🇹 Still Life. Carabinieri tracked down three masterpieces by Cézanne, Renoir, and Matisse stolen from Fondazione Magnani Rocca, returning €9M in art to the walls. (France Info)
• 🇮🇹 Ash and Carry. Flights have resumed at Catania airport after Etna’s alert level dropped from red to orange, letting travelers escape Sicily without volcanic interference. (Boursier)
• 🇮🇹 Artful Dodger. Thieves stole four Antonello da Messina works from the Museo Regionale di Messina, stripping the painter’s hometown of its rarest treasures during Assumption Day festivities. (Cnbc)
• 🇧🇪 Liquid Gold. Construction workers in Dendermonde unearthed $10M in gold bars and coins beneath a former brewery, leaving police both stunned and scrambling for answers. (New York Times)
• 🇷🇺 Confession by Force. Artem Murdid, a Ukrainian bank worker, was sentenced to life in a Russian prison after signing a confession he says was extracted through torture and threats against his family. (New York Times)
• 🇪🇨 Goal Line. Ecuadorian police seized 369 kg of cocaine branded with Manchester City striker Erling Haaland’s face, giving new meaning to scoring big in Carchi. (Ouest-France)
• 🇰🇷 Hot Dog Days. South Korea serves its last legal dog meat dishes this summer as a nationwide ban comes into force in February 2027, ending a centuries-old tradition and leaving only nostalgia on the menu. (Boursier)
• 🇵🇬 Last Laugh. The kuru epidemic, once called the « laughing sickness, » officially ended in Papua New Guinea after authorities banned ritual cannibalism in the 1950s. (Le Monde)

• 🇧🇷 Bite Club. Brazilian influencer Tayane Dalazen was bitten by a nurse shark while filming underwater content, as scientists warn social media stunts are fueling a spike in shark bites. (Bbc)

🗞️ Top Story

• 🇬🇧 Fraud and Order. George Cottrell, a convicted fraudster known as « Posh George, » remains a key adviser to Nigel Farage despite his criminal past and ongoing scrutiny over undisclosed gifts and donations. (New York Times)
• 🇬🇧 Jury of Peers. With police and Parliament circling, Nigel Farage resigns and reclaims his seat, insisting the only verdict that matters is from Clacton’s ballot box. (New York Times)
• 🇬🇧 Silent Quad. Cambridge mourns Jason Arday after his unexpected passing, leaving the historic college in shock and sparking tributes across the academic world. (Washington Post)
• 🇬🇧 CC Confidential. A monthly update on the Al Fayed investigation revealed 140 victims’ email addresses to each other, prompting the Met to issue a public apology and notify regulators. (Bbc)
• 🇪🇸 Nuclear Option. Spain, hailed as a renewables leader, will keep its Almaraz nuclear plant running until 2030 instead of shutting it down in 2027, giving atomic energy a last-minute encore. (Les Echos)
• 🇩🇰 Red Line. Danish PM Mette Frederiksen, once a left-wing idealist, now champions some of Europe’s toughest anti-immigration policies, joining Italy’s Meloni in demanding offshore deportation centers. (El Pais)
• 🇪🇺 Visa La Vista. The EU’s much-delayed ETIAS travel permit quietly loses its 2026 launch date, with 2027 now the consensus after border tech chaos derails the timeline. (Le Figaro)
• 🇪🇺 Locked and Loaded. Estonia agrees to host Sweden’s overflow of serious offenders for a fee, as both countries claim victory while rights groups warn of a growing market for rented justice. (El Pais)
• 🇺🇸 Friendly Fire. Trump announces a major cutback in participation in South Korea war games, arguing they send the wrong message to Kim Jong-un, whose friendship he continues to praise. (Le Temps)
• 🇺🇸 Deal or No Deal. Jared Kushner sat down with Hamas officials in Egypt as Trump’s Gaza plan faces resistance from both Israel and the militants. (New York Times)
• 🇺🇸 Independence Day? Todd Blanche declines to guarantee he will always act without White House influence, arguing that absolute autonomy is unrealistic for any attorney general. (New York Times)
• 🇧🇷 Quad Goals. Lula da Silva, now 80, launches his campaign for a fourth presidential term in Brazil, vowing to block the right’s return and cement his legacy. (El Pais)
• 🇨🇳 Ice Breaker. China has sent its first container ship to Europe via the Arctic, launching a shortcut that halves the usual Suez route and raises climate alarms. (France Info)
• 🇮🇩 Ground Rules. Indonesia’s east was rocked by a 7.7-magnitude quake that left at least 40 dead and sent residents scrambling for higher ground. (Le Monde)
• 🇨🇩 Viral Record. The Ebola outbreak in DR Congo has now killed 2,325 people, making it the deadliest in the country’s history with cases still rising. (Bbc)

🏛️ Economy

• 🇬🇧 False Start. Paul Taylor, ex-bricklayer turned financier, has been fined £489K and banned by the FCA for faking a €200M bond portfolio in failed bids for a UK bank and Reading FC. (Financial Times)
• 🇬🇧 Benefit of the Doubt. Reform UK proposes cutting £50B from welfare by scrapping the current disability payments system, affecting nearly 3M people and replacing it with stricter eligibility. (Bbc)
• 🇬🇧 Cash Crop. Andy Burnham unveils a £65M aid package for drought-stricken UK farmers after Labour MPs accused him of dragging his feet on climate action. (The Guardian)
• 🇬🇧 Tax and Threat. Jamie Dimon warns UK chancellor John Healey that higher bank taxes could drive jobs out of London, as JPMorgan weighs its $3.9B Canary Wharf investment. (Financial Times)
• 🇩🇪 Trip and Save. German travel agencies report a 4 percent rise in package tour sales this summer, but travelers are cutting back on extras abroad as war jitters linger. (Die Zeit)
• 🇪🇺 On Track. Eurostat reports eurozone GDP grew 0.4% last quarter, right in line with market expectations and offering no surprises for analysts. (Boursier)
• 🇺🇸 Sale Away. Soft retail sales figures pushed Treasury prices higher, cooling expectations for another Fed rate increase this year. (Bloomberg)
• 🇺🇸 Premium Outrage. After Brian Thompson’s murder, public fury toward UnitedHealth Group 🇺🇸 and other insurers has only intensified, as soaring premiums and opaque billing fuel lasting resentment. (New York Times)
• 🇺🇸 Jet Set, Reset. The AI boom has minted a new class of young billionaires who are snapping up jets, yachts, and hyper-customized cars, leaving old-school luxury in the dust. (Financial Times)
• 🇨🇳 Love Blocked. China rolls out the world’s first nationwide rules banning AI chatbots from fostering romantic or addictive bonds with users, leaving millions of digital lovers suddenly ghosted by regulation. (El Pais)
• 🇯🇵 Yen of Fire. Traders are ramping up bets against the yen despite US intervention, pushing the currency back toward its lows and daring policymakers to act. (Financial Times)
• 🇮🇳 Power Play. Prime Minister Narendra Modi’s Independence Day speech puts semiconductor manufacturing and nuclear energy at the center of his vision for a developed India by 2047, with self-reliance and AI as supporting acts. (Bloomberg)

🏢 Real Estate

• 🇬🇧 Crowning Glories. King Charles and Prince William face a £10M bill to upgrade hundreds of rental homes on their estates to meet new energy rules by 2030, putting their green reputations on the line. (The Guardian)
• 🇪🇸 Ashes to Ashes. Spain rushes to save the ancient San Juan de la Peña monastery from encroaching wildfires, relocating medieval kings’ remains as flames approach. (Le Figaro)
• 🇦🇱 Resort and Report. Kushner’s coastal project in Albania draws crowds. Of protesters and prosecutors. After allegations of money laundering and cocaine links surface. (Spiegel)
• 🇺🇸 Byte the Dust. Delsia Bare and Ida Huddleston refused $26M for their Kentucky farmland once they learned it would be paved over for AI servers, not sown for the next generation. (Wall Street Journal)
• 🇲🇾 Chip Happens. Malaysia quietly cashes in on the global AI and data center surge, posting 6% GDP growth as chip exports and foreign investment pour in. (Financial Times)

🔗 On-chain

• 🇺🇸 Bank Shot. World Liberty, a crypto firm 38% owned by Trump family interests, just scored conditional approval for a national bank charter from regulators. (Cnbc)

💱 Listed Markets

• 🇩🇪 Sole Purpose. Birkenstock raises its sales outlook after a summer surge in demand, sending shares up 15% and proving comfort is big business. (Les Echos)
• 🇺🇸 Scroll Control. Thirty states want Meta to overhaul Instagram and Facebook for kids, threatening to end likes, filters, and endless feeds if the company loses in court. (Bbc)
• 🇺🇸 Heavy Metal. Gold prices surge to nearly $4,400 as disappointing retail data drags the dollar down and investors rush for cover. (Bloomberg)
• 🇺🇸 Alphabet Soup. Berkshire Hathaway added $17B to its Alphabet stake in Q2, making Google’s parent its third-largest holding after Apple and AmEx. (Cnbc)
• 🇺🇸 Huang’s Orbit. Nvidia 🇺🇸 now owns $21B of SpaceX, showing just how tightly its chips and capital are intertwined with Musk’s ambitions. (Financial Times)
• 🇧🇷 Amazon Prime. Petrobras 🇧🇷 announces signs of oil off the Amazon coast, igniting hopes for new reserves and outrage from environmental groups in equal measure. (Le Figaro)
• 🇻🇪 Back in the Game. BP 🇬🇧 has officially resumed operations in Venezuela, signing on to lead a vast offshore gas project as US sanctions ease and foreign majors pile in. (Boursier)

🛎️ Big Deals (M&A)

• Stellantis 🇳🇱 sells Brampton plant 🇨🇦 after informing the union it is considering closing and selling the Toronto-area factory.
• Diana Shipping 🇬🇷 drops its bid to acquire Genco Shipping & Trading 🇲🇭, ending a nearly year-long takeover battle between the two shipping companies.
• EQT 🇸🇪 offers a $4.9B LBO for Cleanaway Waste Management 🇦🇺 at a 32% premium.
• Samsonite 🇱🇺 to buy an 85% stake in Béis 🇺🇸 for $178M in cash.
• Stripe 🇺🇸 and Advent 🇺🇸 bid to acquire PayPal 🇺🇸 for $53B (offer of $60.50/share), talks reportedly heating up.
• Madison Square Garden Sports 🇺🇸 to spin off New York Rangers 🇺🇸 into a separate public company managing the hockey business, splitting it from the Knicks operations.
• Nvidia 🇺🇸 to invest $3B in SB Energy 🇯🇵 as part of talks with OpenAI on roughly $100B in credit support for a planned Ohio data center campus.
• Silver Lake 🇺🇸 is in talks to acquire Workday 🇺🇸 in a $50B LBO.
• Candle Lake 🇺🇸 makes a mandatory $13.8B cash takeover offer for Evolution 🇸🇪, the Swedish betting firm.
• Thoma Bravo 🇺🇸 will LBO Accelerant 🇺🇸 for $4B at a 50% premium, an insurance marketplace.
• Diversified Energy 🇺🇸 is in advanced talks to acquire Elliott-backed Birch Resources 🇺🇸 for $1.7B in cash, oil & gas sector.
• Polymarket 🇺🇸 acqui-hires Turf 🇺🇸, a sports prediction startup.
• SpaceX 🇺🇸 acquires Cursor 🇺🇸 for $60B, AI coding startup officially closed into SpaceX after an April agreement.
• Stripe 🇺🇸 acquires OpenRouter 🇺🇸 for $7B+, the AI gateway startup that raised $113M Series B at a $1.3B valuation and claimed 8M users, offering a single access point to 400+ models.
• Alibaba Group 🇨🇳 sells Lingxi Games 🇨🇳 to Trustar Capital for $1.5B.
• L’imad 🇦🇪 offers to delist AD Ports 🇦🇪 in an $8.66B deal.

🧳 Private Markets & VC

• 🇩🇪 Growth Hacking. Finance Minister Klingbeil wants to fix Germany’s start-up capital shortage with tax incentives, hoping to turn local founders into global players. (Die Zeit)
• 🇩🇪 Yield of Dreams. Germany’s historic €500B pension shift draws asset managers worldwide, all hoping to cash in on the country’s new investment strategy. (Bloomberg)
• 🇲🇹 Candy Crush. EverAI’s CandyAI platform attracts over 47M monthly visits with its AI-powered adult roleplay, making Malta a discreet hub for digital desire. (Le Monde)
• 🇺🇸 Mind Games. Selena Gomez and her mother are accused in a federal lawsuit of defrauding investors by exaggerating Wondermind’s resources and partnerships while quietly letting the mental health startup unravel. (New York Times)
• 🇺🇸 Talk Is Steep. « Hill-climbing » escapes machine-learning circles and conquers Silicon Valley boardrooms, proving tech jargon always finds a way up. (Wall Street Journal)
• 🇺🇸 Claude Nine. Anthropic’s revenue soared to $11.5B in Q2, up over 14 times from last year, as the Claude chatbot rides the AI gold rush toward a blockbuster IPO. (Cnbc)
• 🇺🇸 Venture Capitalism. Robinhood launches its second public venture fund, letting retail investors buy into private startups with $200M raised at IPO and plenty of risk on the side. (New York Times)
• 🇺🇸 Signature Move. Anthropic unveils how Claude’s new watermark will embed undetectable markers in chatbot replies, prompting some users to cancel over fears of tracking. (TechCrunch)
• 🇺🇸 AI Caramba. Joshua Kushner’s Thrive Capital warns West Coast rivals that AI euphoria is no excuse for abandoning investment discipline, even as everyone rushes to cash in. (TechCrunch)

Fundraising

• Databricks 🇺🇸 (AI): $5B (Coatue)
• Base Power 🇺🇸 (Energy): $1B (Ribbit, Addition, Valor Equity Partners, JPMorganChase’s Strategic Investment Group, Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, Energy Impact Partners, Thrive Capital, a16z, Lightspeed, Trust Ventures, CapitalG)
• Valar Atomics 🇺🇸 (Energy): $1B (Sequoia Capital, Apandion, Atreides Management, Conviction, Dream Ventures, HOF Capital, Point72, Riot Ventures, Snowpoint Ventures, Valor Equity Partners)
• Kalshi 🇺🇸 (Fintech): $750M (Sequoia, Wellington)
• Whatnot 🇺🇸 (eCommerce): $545M (ICONIQ, Lightspeed, Avra, Kleiner Perkins, Wellington Management, Standard Capital, Andreessen Horowitz, Bond, DST Global, Greycroft, Y Combinator, CapitalG)
• Lovable 🇸🇪 (AI): $400M (Menlo Ventures, Scaleup Europe Fund)
• ServBanc Holdco, Inc. 🇺🇸 (Banking): $90M
• Aligned Marketplace 🇺🇸 (Healthcare): $20M (Venrock)
• AGent Energy 🇺🇸 (Energy): $11M (Spero Ventures, MassMutual Ventures)
• Worldscape 🇺🇸 (AI): $10M (Scout Ventures, Radius Capital)
• Riven Systems (Critical minerals): $7.9M (Cerberus Ventures)
• Lemma 🇺🇸 (AI): $2.3M (Matrix, Y Combinator, Liquid 2 Ventures, Vermilion Cliffs Ventures, Irregular Expressions, Cervin Ventures, Comma Capital, Position Ventures, Eight Capital, angels and operators from OpenAI, xAI, Meta, DoorDash)
• Cobi 🇦🇪 (AI): $1M (Lunara Partners, Plug and Play, Annex Investments, Spring)

Fund Watch

• Blackstone 🇺🇸: $3B (collateralized fund obligation backed by secondaries stakes, being considered abandoned)
• Layer Global 🇺🇸: $1.1B (debut VC fund)
• Edelweiss 🇮🇳: $700M (4th special opportunities fund, $1B target)
• Pershing Square 🇺🇸: undisclosed (evergreen VC fund to hold pre-IPO startup stakes)

🔔IPO

• Anthropic 🇺🇸 (AI): expected to IPO at a $2T valuation.
• Vantage Data Centers 🇺🇸 (Data centers): exploring an IPO or sale at a $100B valuation.
• Robinhood 🇺🇸 (Fintech): raised $225M for its second listed VC fund to invest in Y Combinator-backed startups.
• Kiwimoore 🇨🇳 (Semiconductors): confidentially filed for a Hong Kong IPO targeting a $2B valuation.
• Sembcorp 🇸🇬 (Energy): said to plan a $500M IPO for its India unit.
• ZUS Coffee 🇲🇾 (Coffee): considering raising $245M at a $1B valuation in a Malaysia IPO of its Malaysia business.
• Minor International 🇹🇭 (Hotels): delayed a $1B Singapore listing of a new hotel REIT.
• Navi 🇮🇳 (Fintech): preparing to raise $315M an India IPO.
• Svatantra Microfin 🇮🇳 (Microfinance): Advent-backed Indian non-bank lender filed for a $315M IPO.

🧳 Debt

• DWS Group 🇩🇪: will back Frankfurter Leben’s purchase of Athora’s German unit to tap insurers’ capital pools.
• AMD 🇺🇸: seeking to raise $4B–$5B in a bond sale.
• Guggenheim 🇺🇸: Mark Walter offered to pledge his stake to secure loans for his insurance companies, now under federal investigation.
• Telesat 🇨🇦: raised a $120M term loan as it prepares to handle $2B of maturing debt.

❌ Failures

• Frasers 🇬🇧: acquired luxury department store chain Harvey Nichols out of insolvency, beating rival Next.
• Modernland Realty 🇮🇩: seeking to restructure a $274.5M bond for a second time, proposing to extend its maturity and swap it for perpetual, asset‑backed securities.
• Australia 🇦🇺: bailed out a Rio Tinto–controlled aluminum smelter with an A$1.8B rescue package.

🎯 For a Few More Minutes…

• 🇮🇹 Current Affairs. Ferrari’s first all-electric Luce sold for a record $40M at RM Sotheby’s auction, sparking both headlines and purist outrage over the brand’s new direction. (Bbc)
• 🇮🇹 Still Life. Carabinieri tracked down three masterpieces by Cézanne, Renoir, and Matisse stolen from Fondazione Magnani Rocca, returning €9M in art to the walls. (France Info)
• 🇮🇹 Ash and Carry. Flights have resumed at Catania airport after Etna’s alert level dropped from red to orange, letting travelers escape Sicily without volcanic interference. (Boursier)
• 🇮🇹 Artful Dodger. Thieves stole four Antonello da Messina works from the Museo Regionale di Messina, stripping the painter’s hometown of its rarest treasures during Assumption Day festivities. (Cnbc)
• 🇧🇪 Liquid Gold. Construction workers in Dendermonde unearthed $10M in gold bars and coins beneath a former brewery, leaving police both stunned and scrambling for answers. (New York Times)
• 🇷🇺 Confession by Force. Artem Murdid, a Ukrainian bank worker, was sentenced to life in a Russian prison after signing a confession he says was extracted through torture and threats against his family. (New York Times)
• 🇧🇷 Bite Club. Brazilian influencer Tayane Dalazen was bitten by a nurse shark while filming underwater content, as scientists warn social media stunts are fueling a spike in shark bites. (Bbc)
• 🇪🇨 Goal Line. Ecuadorian police seized 369 kg of cocaine branded with Manchester City striker Erling Haaland’s face, giving new meaning to scoring big in Carchi. (Ouest-France)
• 🇰🇷 Hot Dog Days. South Korea serves its last legal dog meat dishes this summer as a nationwide ban comes into force in February 2027, ending a centuries-old tradition and leaving only nostalgia on the menu. (Boursier)
• 🇵🇬 Last Laugh. The kuru epidemic, once called the « laughing sickness, » officially ended in Papua New Guinea after authorities banned ritual cannibalism in the 1950s. (Le Monde)

🗞️ Top Story

• 🇺🇸 Friendly Fire. Trump announces a major cutback in participation in South Korea war games, arguing they send the wrong message to Kim Jong-un, whose friendship he continues to praise. (Le Temps)
• 🇺🇸 Deal or No Deal. Jared Kushner sat down with Hamas officials in Egypt as Trump’s Gaza plan faces resistance from both Israel and the militants. (New York Times)
• 🇺🇸 Storm Approval. Hurricane Lala strikes Hawaii while President Trump authorizes FEMA disaster aid for Indiana, reminding everyone that weather and politics never take a break. (Bloomberg)
• 🇺🇸 Carrier On. Trump dismissed concerns about the U.S.S. Abraham Lincoln’s extended mission, telling worried families there is nothing to see and no reason to stop. (New York Times)
• 🇺🇸 Independence Day? Todd Blanche declines to guarantee he will always act without White House influence, arguing that absolute autonomy is unrealistic for any attorney general. (New York Times)
• 🇺🇸 Left Out. Polls show Dr. Abdul El-Sayed lagging behind Republican Mike Rogers in Michigan, prompting Democrats to worry their progressive pick might backfire. (New York Times)
• 🇧🇷 Quad Goals. Lula da Silva, now 80, launches his campaign for a fourth presidential term in Brazil, vowing to block the right’s return and cement his legacy. (El Pais)
• 🇪🇸 Nuclear Option. Spain, hailed as a renewables leader, will keep its Almaraz nuclear plant running until 2030 instead of shutting it down in 2027, giving atomic energy a last-minute encore. (Les Echos)
• 🇩🇰 Red Line. Danish PM Mette Frederiksen, once a left-wing idealist, now champions some of Europe’s toughest anti-immigration policies, joining Italy’s Meloni in demanding offshore deportation centers. (El Pais)
• 🇪🇺 Visa La Vista. The EU’s much-delayed ETIAS travel permit quietly loses its 2026 launch date, with 2027 now the consensus after border tech chaos derails the timeline. (Le Figaro)
• 🇪🇺 Locked and Loaded. Estonia agrees to host Sweden’s overflow of serious offenders for a fee, as both countries claim victory while rights groups warn of a growing market for rented justice. (El Pais)
• 🇬🇧 Silent Quad. Cambridge mourns Jason Arday after his unexpected passing, leaving the historic college in shock and sparking tributes across the academic world. (Washington Post)
• 🇨🇳 Ice Breaker. China has sent its first container ship to Europe via the Arctic, launching a shortcut that halves the usual Suez route and raises climate alarms. (France Info)
• 🇮🇩 Ground Rules. Indonesia’s east was rocked by a 7.7-magnitude quake that left at least 40 dead and sent residents scrambling for higher ground. (Le Monde)
• 🇨🇩 Viral Record. The Ebola outbreak in DR Congo has now killed 2,325 people, making it the deadliest in the country’s history with cases still rising. (Bbc)

🏛️ Economy

• 🇺🇸 Sale Away. Soft retail sales figures pushed Treasury prices higher, cooling expectations for another Fed rate increase this year. (Bloomberg)
• 🇺🇸 Premium Outrage. After Brian Thompson’s murder, public fury toward UnitedHealth Group 🇺🇸 and other insurers has only intensified, as soaring premiums and opaque billing fuel lasting resentment. (New York Times)
• 🇺🇸 Jet Set, Reset. The AI boom has minted a new class of young billionaires who are snapping up jets, yachts, and hyper-customized cars, leaving old-school luxury in the dust. (Financial Times)
• 🇩🇪 Trip and Save. German travel agencies report a 4 percent rise in package tour sales this summer, but travelers are cutting back on extras abroad as war jitters linger. (Die Zeit)
• 🇪🇺 On Track. Eurostat reports eurozone GDP grew 0.4% last quarter, right in line with market expectations and offering no surprises for analysts. (Boursier)
• 🇬🇧 False Start. Paul Taylor, ex-bricklayer turned financier, has been fined £489K and banned by the FCA for faking a €200M bond portfolio in failed bids for a UK bank and Reading FC. (Financial Times)
• 🇨🇳 Love Blocked. China rolls out the world’s first nationwide rules banning AI chatbots from fostering romantic or addictive bonds with users, leaving millions of digital lovers suddenly ghosted by regulation. (El Pais)
• 🇯🇵 Yen of Fire. Traders are ramping up bets against the yen despite US intervention, pushing the currency back toward its lows and daring policymakers to act. (Financial Times)
• 🇮🇳 Power Play. Prime Minister Narendra Modi’s Independence Day speech puts semiconductor manufacturing and nuclear energy at the center of his vision for a developed India by 2047, with self-reliance and AI as supporting acts. (Bloomberg)

🏢 Real Estate

• 🇺🇸 Fixer-Upper Frenzy. Baltimore’s once-ignored abandoned homes are suddenly in demand, with buyers outbidding each other as affordable options vanish elsewhere. (Wall Street Journal)
• 🇺🇸 Byte the Dust. Delsia Bare and Ida Huddleston refused $26M for their Kentucky farmland once they learned it would be paved over for AI servers, not sown for the next generation. (Wall Street Journal)
• 🇪🇸 Ashes to Ashes. Spain rushes to save the ancient San Juan de la Peña monastery from encroaching wildfires, relocating medieval kings’ remains as flames approach. (Le Figaro)
• 🇬🇧 Price and Prejudice. Newly listed homes in Kensington and Chelsea saw asking prices drop by £100K in a month as sellers race to undercut each other. (The Guardian)
• 🇦🇱 Resort and Report. Kushner’s coastal project in Albania draws crowds. Of protesters and prosecutors. After allegations of money laundering and cocaine links surface. (Spiegel)
• 🇲🇾 Chip Happens. Malaysia quietly cashes in on the global AI and data center surge, posting 6% GDP growth as chip exports and foreign investment pour in. (Financial Times)

🔗 On-chain

• 🇺🇸 Bank Shot. World Liberty, a crypto firm 38% owned by Trump family interests, just scored conditional approval for a national bank charter from regulators. (Cnbc)

💱 Listed Markets

• 🇺🇸 Scroll Control. Thirty states want Meta to overhaul Instagram and Facebook for kids, threatening to end likes, filters, and endless feeds if the company loses in court. (Bbc)
• 🇺🇸 Heavy Metal. Gold prices surge to nearly $4,400 as disappointing retail data drags the dollar down and investors rush for cover. (Bloomberg)
• 🇺🇸 Alphabet Soup. Berkshire Hathaway added $17B to its Alphabet stake in Q2, making Google’s parent its third-largest holding after Apple and AmEx. (Cnbc)
• 🇺🇸 Huang’s Orbit. Nvidia 🇺🇸 now owns $21B of SpaceX, showing just how tightly its chips and capital are intertwined with Musk’s ambitions. (Financial Times)
• 🇺🇸 Born in the USA. The Detroit rivalry shifts gears as Ford and GM 🇺🇸 each argue they are the true American icon, with tariffs fueling the contest. (Wall Street Journal)
• 🇧🇷 Amazon Prime. Petrobras 🇧🇷 announces signs of oil off the Amazon coast, igniting hopes for new reserves and outrage from environmental groups in equal measure. (Le Figaro)
• 🇻🇪 Back in the Game. BP 🇬🇧 has officially resumed operations in Venezuela, signing on to lead a vast offshore gas project as US sanctions ease and foreign majors pile in. (Boursier)
• 🇩🇪 Sole Purpose. Birkenstock raises its sales outlook after a summer surge in demand, sending shares up 15% and proving comfort is big business. (Les Echos)

🛎️ Big Deals (M&A)

• Stripe 🇺🇸 and Advent 🇺🇸 bid to acquire PayPal 🇺🇸 for $53B (offer of $60.50/share), talks reportedly heating up.
• Madison Square Garden Sports 🇺🇸 to spin off New York Rangers 🇺🇸 into a separate public company managing the hockey business, splitting it from the Knicks operations.
• Charlie Ergen 🇺🇸 takes a controlling stake in MobileX 🇺🇸 for $200M via his SPAC CONX.
• Nvidia 🇺🇸 to invest $3B in SB Energy 🇯🇵 as part of talks with OpenAI on roughly $100B in credit support for a planned Ohio data center campus.
• Silver Lake 🇺🇸 is in talks to acquire Workday 🇺🇸 in a $50B LBO.
• Candle Lake 🇺🇸 makes a mandatory $13.8B cash takeover offer for Evolution 🇸🇪, the Swedish betting firm.
• Thoma Bravo 🇺🇸 will LBO Accelerant 🇺🇸 for $4B at a 50% premium, an insurance marketplace.
• Diversified Energy 🇺🇸 is in advanced talks to acquire Elliott-backed Birch Resources 🇺🇸 for $1.7B in cash, oil & gas sector.
• Polymarket 🇺🇸 acqui-hires Turf 🇺🇸, a sports prediction startup.
• KKR 🇺🇸 offers to acquire First Gen 🇵🇭. Parent rejects the bid and shares plunge 19%.
• SpaceX 🇺🇸 acquires Cursor 🇺🇸 for $60B, AI coding startup officially closed into SpaceX after an April agreement.
• WindRose Health Investors 🇺🇸 recapitalizes Verified Clinical Trials 🇺🇸, appointing Howard Miller as CEO and leaving founders Mitchell Efros and Kerri Weingard actively involved. Terms not disclosed, clinical-trial patient safety and data-integrity solutions.
• Stripe 🇺🇸 acquires OpenRouter 🇺🇸 for $7B+, the AI gateway startup that raised $113M Series B at a $1.3B valuation and claimed 8M users, offering a single access point to 400+ models.
• Stellantis 🇳🇱 sells Brampton plant 🇨🇦 after informing the union it is considering closing and selling the Toronto-area factory.
• Diana Shipping 🇬🇷 drops its bid to acquire Genco Shipping & Trading 🇲🇭, ending a nearly year-long takeover battle between the two shipping companies.
• EQT 🇸🇪 offers a $4.9B LBO for Cleanaway Waste Management 🇦🇺 at a 32% premium.
• Samsonite 🇱🇺 to buy an 85% stake in Béis 🇺🇸 for $178M in cash.
• Alibaba Group 🇨🇳 sells Lingxi Games 🇨🇳 to Trustar Capital for $1.5B.
• L’imad 🇦🇪 offers to delist AD Ports 🇦🇪 in an $8.66B deal.

🧳 Private Markets & VC

• 🇺🇸 Mind Games. Selena Gomez and her mother are accused in a federal lawsuit of defrauding investors by exaggerating Wondermind’s resources and partnerships while quietly letting the mental health startup unravel. (New York Times)
• 🇺🇸 Talk Is Steep. « Hill-climbing » escapes machine-learning circles and conquers Silicon Valley boardrooms, proving tech jargon always finds a way up. (Wall Street Journal)
• 🇺🇸 Claude Nine. Anthropic’s revenue soared to $11.5B in Q2, up over 14 times from last year, as the Claude chatbot rides the AI gold rush toward a blockbuster IPO. (Cnbc)
• 🇺🇸 Venture Capitalism. Robinhood launches its second public venture fund, letting retail investors buy into private startups with $200M raised at IPO and plenty of risk on the side. (New York Times)
• 🇺🇸 Signature Move. Anthropic unveils how Claude’s new watermark will embed undetectable markers in chatbot replies, prompting some users to cancel over fears of tracking. (TechCrunch)
• 🇺🇸 AI Caramba. Joshua Kushner’s Thrive Capital warns West Coast rivals that AI euphoria is no excuse for abandoning investment discipline, even as everyone rushes to cash in. (TechCrunch)
• 🇩🇪 Growth Hacking. Finance Minister Klingbeil wants to fix Germany’s start-up capital shortage with tax incentives, hoping to turn local founders into global players. (Die Zeit)
• 🇩🇪 Yield of Dreams. Germany’s historic €500B pension shift draws asset managers worldwide, all hoping to cash in on the country’s new investment strategy. (Bloomberg)
• 🇲🇹 Candy Crush. EverAI’s CandyAI platform attracts over 47M monthly visits with its AI-powered adult roleplay, making Malta a discreet hub for digital desire. (Le Monde)

Fundraising

• Databricks 🇺🇸 (AI): $5B (Coatue)
• Base Power 🇺🇸 (Energy): $1B (Ribbit, Addition, Valor Equity Partners, JPMorganChase’s Strategic Investment Group, Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, Energy Impact Partners, Thrive Capital, a16z, Lightspeed, Trust Ventures, CapitalG)
• Valar Atomics 🇺🇸 (Energy): $1B (Sequoia Capital, Apandion, Atreides Management, Conviction, Dream Ventures, HOF Capital, Point72, Riot Ventures, Snowpoint Ventures, Valor Equity Partners)
• Kalshi 🇺🇸 (Fintech): $750M (Sequoia, Wellington)
• Whatnot 🇺🇸 (eCommerce): $545M (ICONIQ, Lightspeed, Avra, Kleiner Perkins, Wellington Management, Standard Capital, Andreessen Horowitz, Bond, DST Global, Greycroft, Y Combinator, CapitalG)
• Lovable 🇸🇪 (AI): $400M (Menlo Ventures, Scaleup Europe Fund)
• ServBanc Holdco, Inc. 🇺🇸 (Banking): $90M
• Aligned Marketplace 🇺🇸 (Healthcare): $20M (Venrock)
• AGent Energy 🇺🇸 (Energy): $11M (Spero Ventures, MassMutual Ventures)
• Worldscape 🇺🇸 (AI): $10M (Scout Ventures, Radius Capital)
• Riven Systems (Critical minerals): $7.9M (Cerberus Ventures)
• Lemma 🇺🇸 (AI): $2.3M (Matrix, Y Combinator, Liquid 2 Ventures, Vermilion Cliffs Ventures, Irregular Expressions, Cervin Ventures, Comma Capital, Position Ventures, Eight Capital, angels and operators from OpenAI, xAI, Meta, DoorDash)
• Cobi 🇦🇪 (AI): $1M (Lunara Partners, Plug and Play, Annex Investments, Spring)

Fund Watch

• Blackstone 🇺🇸: $3B (collateralized fund obligation backed by secondaries stakes, being considered abandoned)
• Layer Global 🇺🇸: $1.1B (debut VC fund)
• Edelweiss 🇮🇳: $700M (4th special opportunities fund, $1B target)
• Pershing Square 🇺🇸: undisclosed (evergreen VC fund to hold pre-IPO startup stakes)

🔔IPO

• Anthropic 🇺🇸 (AI): expected to IPO at a $2T valuation.
• Vantage Data Centers 🇺🇸 (Data centers): exploring an IPO or sale at a $100B valuation.
• Robinhood 🇺🇸 (Fintech): raised $225M for its second listed VC fund to invest in Y Combinator-backed startups.
• Kiwimoore 🇨🇳 (Semiconductors): confidentially filed for a Hong Kong IPO targeting a $2B valuation.
• Sembcorp 🇸🇬 (Energy): said to plan a $500M IPO for its India unit.
• ZUS Coffee 🇲🇾 (Coffee): considering raising $245M at a $1B valuation in a Malaysia IPO of its Malaysia business.
• Minor International 🇹🇭 (Hotels): delayed a $1B Singapore listing of a new hotel REIT.
• Navi 🇮🇳 (Fintech): preparing to raise $315M an India IPO.
• Svatantra Microfin 🇮🇳 (Microfinance): Advent-backed Indian non-bank lender filed for a $315M IPO.

🧳 Debt

• AMD 🇺🇸: seeking to raise $4B–$5B in a bond sale.
• Guggenheim 🇺🇸: Mark Walter offered to pledge his stake to secure loans for his insurance companies, now under federal investigation.
• Hadrian 🇺🇸: closed a $360M revolving credit facility to accelerate its U.S. manufacturing buildout.
• Telesat 🇨🇦: raised a $120M term loan as it prepares to handle $2B of maturing debt.
• DWS Group 🇩🇪: will back Frankfurter Leben’s purchase of Athora’s German unit to tap insurers’ capital pools.
• Glencore 🇨🇭: to receive $1B loan from Korea Eximbank for copper supply.

❌ Failures

• Frasers 🇬🇧: acquired luxury department store chain Harvey Nichols out of insolvency, beating rival Next.
• Modernland Realty 🇮🇩: seeking to restructure a $274.5M bond for a second time, proposing to extend its maturity and swap it for perpetual, asset‑backed securities.
• Australia 🇦🇺: bailed out a Rio Tinto–controlled aluminum smelter with an A$1.8B rescue package.

🎯 For a Few More Minutes…

• 🇪🇨 Goal Line. Ecuadorian police seized 369 kg of cocaine branded with Manchester City striker Erling Haaland’s face, giving new meaning to scoring big in Carchi. (Ouest-France)
• 🇮🇹 Current Affairs. Ferrari’s first all-electric Luce sold for a record $40M at RM Sotheby’s auction, sparking both headlines and purist outrage over the brand’s new direction. (Bbc)
• 🇮🇹 Still Life. Carabinieri tracked down three masterpieces by Cézanne, Renoir, and Matisse stolen from Fondazione Magnani Rocca, returning €9M in art to the walls. (France Info)
• 🇮🇹 Ash and Carry. Flights have resumed at Catania airport after Etna’s alert level dropped from red to orange, letting travelers escape Sicily without volcanic interference. (Boursier)
• 🇮🇹 Artful Dodger. Thieves stole four Antonello da Messina works from the Museo Regionale di Messina, stripping the painter’s hometown of its rarest treasures during Assumption Day festivities. (Cnbc)
• 🇧🇪 Liquid Gold. Construction workers in Dendermonde unearthed $10M in gold bars and coins beneath a former brewery, leaving police both stunned and scrambling for answers. (New York Times)
• 🇷🇺 Confession by Force. Artem Murdid, a Ukrainian bank worker, was sentenced to life in a Russian prison after signing a confession he says was extracted through torture and threats against his family. (New York Times)
• 🇰🇷 Hot Dog Days. South Korea serves its last legal dog meat dishes this summer as a nationwide ban comes into force in February 2027, ending a centuries-old tradition and leaving only nostalgia on the menu. (Boursier)
• 🇵🇬 Last Laugh. The kuru epidemic, once called the « laughing sickness, » officially ended in Papua New Guinea after authorities banned ritual cannibalism in the 1950s. (Le Monde)