US stocks edged higher yesterday on the back of strong bank earnings

Bank of America beat Q3 earnings and revenue estimates on a 43% surge in IB revenue and record net interest income (CNBC)

Morgan Stanley posted a massive Q3 earnings and revenue beat quarter on a 44% surge in IB fees and 35% jump in equities trading to beat Goldman Sachs for the first-time ever (CNBC)

Progressive missed Q3 earnings and revenue estimates after recording a $950M policyholder credit expense tied to excess profits in Florida (BN)

ASML beat Q3 earnings and revenue estimates amid strong AI-driven demand and confidence in its long-term technology roadmap, but warned of a significant decline in China sales (CNBC)

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US approved new tech-focused bank Erebor (BBG)

InPlay Global is seeking approval for a trading venue where investors can trade securities linked to performance of sports teams (BBG)

Shutdown is costing US economy $15B a day (RT)

Bessent said stock market decline won't affect US stance on China (CNBC) 

Bessent will present Fed chief candidates to Trump in December (RT)

BoE loosened bonus rules (FT)

Private credit execs hit back after Dimon's 'cockroach' comment (BBG)

Private credit is set to win more deals from rivals (BBG)

Private credit gold rush is spreading to EM (BBG)

US repo rates hit high of 4.36% (RT)

US regulators will ease capital rules for community banks (BBG)

Prime brokerage boom generates Q3 windfall for Wall Street banks (RT)

Wall Street rides IPO momentum as equity advisory revenue climbs (BBG)

Wall Street banks highlight consumer resilience (RT)

ETF inflows smash $1T mark in fastest run ever (BBG)

ETF players double down with 5x leveraged ETF (BBG)

Foreign companies eye US expansion to lessen fallout from tariffs (RT)

Wall Street-backed startup fuels jump in online leveraged loan trading (BBG)

Secondaries fundraising YTD surpassed full-year record (SI)

VC secondaries continue to grow, but GP-led deals lag (PB)

Blackstone joined race to bring private markets to 401(k)s (WSJ)

EY revenue rises as AI consulting offsets slowdown in deal work (FT)

OpenAI made a five-year plan to meet $1T spending pledges (FT)

Tesla urged Delaware Supreme Court to restore Musk's $56B comp (RT)

BofA and BNY were sued over alleged ties to Epstein sex-trafficking (BBG)

An investor group including BlackRock, Microsoft, and Nvidia agreed to global data center giant Aligned Data Centers for $40B

French telecom operator Altice rejected a $19.7B offer from Bouygues, Orange and Free-iliad for its French unit SFR

PE firm Lone Star Funds agreed to acquire US plastic parts and equipment maker Hillenbrand at a $3.8B valuation, including debt

PE firms KKR and PAG submitted an offer to acquire the real estate holdings of Japanese beer maker Sapporo in a deal worth over $2.6B

Pharma giant Novo Nordisk agreed to acquire rights to a rare-disease drug from Omeros for $2.1B

S&P Global agreed to acquire private markets data and analytics firm With Intelligence for $1.8B

The founder of Croatian sports-car maker Rimac is in talks to buy out Porsche's stake in their JV Bugatti Rimac at a $1.1B valuation

French telecom Orange is seeking to raise $465M-$580M in a stake sale of some data centers in France

Founder-led Fair Holdings agreed to take-private online vehicle marketplace firm TrueCar in a $227M all-cash deal

Brazilian family office J&F Investimentos agreed to acquire utility Electrobas' nuclear subsidiary Electonuclear for $98M

UAE investment company Multiply Group agreed to acquire 2PointZero and Ghitha in a share-swap transaction to create an entity holding assets worth $33B

Australia's Macquarie agreed to acquire an additional 50% stake in London City Airport raising its total ownership to 75%

Italian eyewear giant EssilorLuxottica agreed to acquire eyecare AI and data management firm RetinAI

Foxconn's bid for a stake in a unit of German auto supplier ZF Group stalled

Shares of lender First Horizon plunged after management mentioned plans to acquire another bank

Indian crypto exchange CoinDCX raised a Series D extension at a $2.45B valuation from Coinbase Global

Vantaca, an AI-first community association management platform, raised $300M+ in funding at a $1.25B valuation led by Cove Hill Partners

AI data center infrastructure startup Tachyum raised a $220M Series C from a European investor

Campfire, an AI-native ERP platform, raised a $65M Series B led by Accel and Ribbit

B2B activation and attribution platform Dreamdata raised a $55M Series B led by Peakspan Capital

Liberate, an AI startup automating insurance operations, raised a $50M round at a $300M valuation led by Battery Ventures

Enspired, an optimizer for battery energy storage systems, raised a $40M Series B led by Future Energy Ventures

Caracol, a startup combining robotics and manufacturing, raised a $40M Series B led by Omnes Capital and Move Capital Fund I

Viven, an AI digital twin startup, raised a $35M seed round led by Khosla Ventures, Foundation Capital, FPV Ventures, and others

Nova Credit, a credit infrastructure and analytics company, raised a $35M Series D led by Socium Ventures

Prisma Photonics, a deep tech startup using AI to convert optical fibers into infrastructure monitoring devices, raised a $30M round led by Protego Ventures

MatrixSpace, a startup building portable AI-enhanced radar for counter drone sensing, raised a $20M Series B led by The Raptor Group and OTB Ventures

Vertical Semiconductor, a semiconductor startup spun out of MIT, raised an $11M seed round led by Playground Global

Glue, a startup developing an AI-native collaboration platform, raised a $20M Series A led by Abstract Ventures

Corbel, an AI-powered OS for industrial equipment manufacturers, raised a $6.7M seed round led by Ibex Investors

Woz, a startup using AI to build apps with human oversight, raised a $6M seed round led by Cervin Ventures

European defense giant Czechoslovak Group is in early talks with investors for a $3.5B IPO

EV aircraft maker Beta Technologies is seeking to raise $825M at a $7.2B valuation in an IPO

US-based luxury watchmaker Fossil Group is considering raising $400M at a $1.6B valuation in an India IPO of its India arm

UAE contractor Alec Holdings raised $380M at a $1.9B valuation in its Dubai IPO

Japanese e-commerce giant Rakuten is weighing a US IPO of its credit card unit

Abra Group, which controls Brazilian airline Gol and Colombia's Avianca, will confidentially file for a US IPO

JPMorgan sold $5B of investment-grade bonds

HSBC is seeking a SRT tied to a portfolio of $3.4B of corporate loans

Citigroup raised $3.2B in a euro-denominated bond sale

GM raised a $2B loan in a private placement

Los Angeles is planning a $1B munis sale to fund infrastructure for 2028 Olympics

Brazilian power group Energisa raised $1B in three separate debt offerings

Shares in German copper producer Aurubis fell after key shareholder Salzgitter sold $580M worth of exchangeable bonds

Canada's Coast Capital Savings Federal Credit Union is looking to raise $145M in AT1 debt

Taco Bell franchisee Pacific Bells priced a $120M leveraged loan

Investors holding $17B in wiped-out Credit Suisse bonds are citing the Lehman Brothers payout precedent to argue for compensation

Casino operator Bally's is in a standoff with lenders over its attempt to amend its $1.9B term loan

Bank of America's loans to bankrupt auto parts group First Brands is secured by strong collateral; Morgan Stanley has no exposure

Creditors to distressed UK utility Thames Water sweetened their proposal to stabilize the utility's finances and avoid administration

Developer China Vanke made delayed interest payments on onshore debt that it previously skipped

Creditors to distressed Apollo-backed chemicals firm Kem One are seeking to band together as financial woes grow

PE firm RCP Advisors raised $1.3B for its latest secondaries fund

Baltic asset manager Invalda INVL raised $480M for its second PE fund

Quant hedge fund Two Sigma shuttered its $120M legacy Eclipse Fund that traded macro and equities strategies

Arizona VC Xcellerant launched a $100M VC fund aimed at retail investors

U.S. Bancorp formed a dedicated unit for digital assets and money movement

Palmer Luckey's crypto bank got tentative approval from US regulators

Basel chair said stablecoin boom might spur review of rules

Paxos mistakenly issues $300T of PayPal stablecoin

UK is looking to confiscate $6.8B of Bitcoin tied to a massive fraud in China

Crypto's hedge-appeal cracks as gold wins big on debasement fear