US stocks continued to fall yesterday as healthy GDP data failed to impress

EM stocks fell 0.8% in its worst day in a month on dented Fed rate cut bets 

Silver hit $45 for the first time since 2011 

Costco beat Q4 earnings and revenue estimates on a 6.4% same-store sales increase and 10%+ membership income and e-commerce sales growth on strong demand from younger members and expansion success in merchandise and online offerings (CNBC)

CarMax missed Q2 earnings and revenue estimates as same-store sales declined on tariff-related pull-ahead buying, inventory depreciation, and weaker market conditions; shares plunged 20% as the firm warned of ongoing challenges despite improved inventory and pricing (CNBC)

Accenture beat Q4 revenue estimates and announced a $865M restructuring and layoff program to realign operations for AI and digital services; the firm guided for slower FY growth due to federal spending cuts (RT)

Full calendar here

Europe could never.

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US Q2 GDP growth was revised upwards to 3.8% YoY (BBG)

US imposed 25% tariffs on heavy trucks and kitchen cabinets (BBG)

US imposed 100% tariffs on pharmaceuticals (RT)

Global debt hit a record $338T (RT)

Fed reserves fell for a seventh week below $3T as liquidity drains (BBG)

Ken Griffin expects one more Fed rate cut this year (RT)

Private credit giants turn debt into equity for jumbo deals (BBG)

Goldman's $5.5B leveraged loan for Dayforce is this year's biggest (BBG)

AI coding startups saw $7.5B in VC funding this quarter (FT) 

BlackRock sees CLOs among best European credit opportunities (BBG)

US and Asia LPs are ditching US hedge funds for EMEA (RT)

Goldman sees M&A growth being driven by industry consolidation (RT)

Wall Street eyes IPO trackers as newly-listed stocks rally (BBG)

StubHub is having the worst IPO start since 2007 (BBG)

Fed fund futures trading hit a record high (BBG)

India is headed for its busiest IPO month this century (BBG)

Europe bond sales surged past $230B in September record (BBG)

Saudi aims to grow debt market to fund giga projects (BBG)

South Korea will start 24-hour won trading in globalization push (BBG)

Microsoft disabled some software for Israeli military (BBG)

Amazon will settle FTC Prime lawsuit with $2.5B penalty (BBG)

Citigroup moved 1k IT jobs to India (BBG)

Accenture will cut staff who cannot be retrained for AI (FT)

Starbucks will close 1% of North America stores and cut 900 jobs (BBG)

Germany's Bosch will cut another 13k jobs (BBG)

Europe told Russia they're ready to shoot down jets (BBG)

US will block Israel from annexing West Bank (WSJ)

Intel approached TSMC for an investment or partnership

Spain's regulator approved Spanish bank BBVA's $20B bid to acquire rival Sabadell

Oracle, Silver Lake, and Abu Dhabi AI investment firm MGX are in talks to acquire a 45% stake in TikTok from Chinese tech giant ByteDance at a $14B valuation; ByteDance will retain a 20% stake and outside investors will hold the rest

Sixth Street Partners and businessman Dean Metropoulos agreed to acquire an 8% stake in NFL's New England Patriots from billionaire Robert Kraft at a $9B valuation

Blackstone, Warburg Pincus, Nordic Capital, Hellman & Friedman, and TPG are weighing an investment or acquisition of Canada's La Caisse and CVC-backed French diagnostics provider Sebia, which could be valued at $5.8B

The eldest son of Malaysia's billionaire king Ismail Ibrahim is seeking to sell a Singapore plot for $2.7B in potentially the city's largest real estate deal ever

Activist hedge fund Irenic Capital Management is encouraging PE firms to take-private $2.3B-listed UK food outlet operator SSP Group

Investor Mark Ein acquired a minority stake in the MLB's Baltimore Orioles; the Orioles were last valued at $1.7B in 2024

Blackstone is weighing a sale or IPO of genealogy company Ancestry.com

Nscale, a European startup building an AI-native infrastructure to power GenAI, raised a $1.1B Series B led by Aker

Datavault AI, an AI data visualization, valuation, and monetization platform, raised a $150M strategic investment from Scilex Holding Company

Auterion, a defense software company, raised a $130M Series B led by Bessemer Venture Partners

Valence, a startup building an enterprise AI coach, raised a $50M Series B led by Bessemer Venture Partners

Factory, an AI software development platform, raised a $50M in Series B at a $300m valuation from NEA, Sequoia Capital, Nvidia, and JPMorgan

Payments startup RedotPay raised a $47M round from Coinbase Ventures, Galaxy Ventures, and Vertex Ventures

Fetcherr, an AI-based decision making platform for airlines, raised a $42M Series C led by Salesforce Ventures

Beroe, a procurement intelligence startup, raised $34M in funding led by Relativity Resilience Fund, Mukul Agrawal, Ashish Kacholia, and others

Light, a Danish finance software company, raised a $30M Series A led by Balderton Capital

Juicebox, an AI-powered search engine that analyzes professional profiles, raised a $30M Series A led by Sequoia

European chip cooling startup Corintis raised a $24M Series A at a $400M valuation led by BlueYard Capital

Genstore, an AI-native e-commerce startup, raised a $10M seed round led by Weimob

enaDyne, a startup building electric non-thermal plasma reactors to convert CO2 into chemicals, raised an $8M seed round led by Amadeus Capital Partners and Energy Capital Ventures

Doorstep, a startup helping find missing food deliveries, raised an $8M seed round led by Canaan Partners

Spanish AI-native HR platform Orbio raised a $7.6M round led by Visionaries Club

Bonsai Health, an AI platform to streamline and automate complex healthcare processes, raised a $7M seed round led by Bonfire Ventures and Wonder Ventures

Oolka, an AI-driven credit management platform, raised a $7M seed round led by Lightspeed India Partners and Z47

revel8, a European cybersecurity startup fighting AI-powered threats, raised an $8M seed round led by Peak

yasp, a European startup accelerating AI model optimization, raised a $4.2M seed round led by Capnamic

Korean electronics conglomerate LG Electronics' India unit is seeking to raise $1.3B at a $9B valuation in its India IPO next week

China's biggest car exporter Chery Automobile raised $1.2B for a $24B market cap in its Hong kong IPO

SoftBank-backed Indian hotel operator Oyo tapped banks to raise $800M at a $7B-$8B valuation in an India IPO

Activist Land & Buildings took a 2% stake in $2B-listed theme park operator Six Flags Entertainment and will pressure the firm to spinout or sell its real estate

Shares in Carlyle-backed Japanese beer maker Orion Breweries surged 130% after raising raising $156M in its Japan IPO

Exzeo Group, an insurance underwriting and analytics platform being carved out of HCI Group, filed for a $100M IPO

Citigroup will seek more minority investors in its Mexican retail unit Banamex before launching an IPO 

Goldman Sachs' Petershill alternative investments vehicle will delist from London

Pharma SPAC Drugs Made In America Acquisition II raised $500M in this year's largest SPAC IPO

Google-linked crypto miner TeraWulf is planning to raise $3B in high yield debt to support the build-out of its data centers

Dutch brewer Heineken received $8.6B of orders for its $2.35B bond sale to finance its $3.2B acquisition of Florida Ice and Farm Company's beverage and retail businesses

Distressed Hong Kong builder New World Development raised a $508M secured loan backed its crown jewel asset in the city

Saudi's PIF-owned jet leasing firm AviLease plans to raise $500M in a debut bond sale

State-owned Uganda Development Bank plans to raise $500M in debt

Auto part supplier First Brands Group is preparing to enter bankruptcy with no restructuring plan in place

A group of companies used by First Brands Group to raise financing filed for Chapter 11 bankruptcy

Brazilian waste management company Ambipar was granted emergency protection against creditors after telling a court it was at risk of financial collapse

Botswana is holding an unprecedented ad-hoc diamond auction amid economic struggles

Ares is seeking to raise $8B in equity fundraising to back data centers across London, Japan, and Brazil

Infrastructure investor Stonepeak is seeking to raise $4B for its second Asian infrastructure fund

Blue Owl and Qatar SWF QIA partnered to launch a $3B data center venture

Blackstone's real estate debt business partnered with Pluto Finance to lend $2.7B to small and medium-sized developers and investors in Europe

The VC arm of biopharma giant Sanofi raised $625M for its latest biotech fund

VC First Round Capital is eyeing $500M for its tenth flagship fund

Re/insurance firm Hudson Structured Capital Management raised a $110M secondaries fund to acquire a portfolio of life insurance-linked securities

PE firm NorthSands Capital is seeking to raise a debut secondaries fund

Stablecoin giant Circle examines 'reversible' transactions in departure for crypto

Unusual trading ahead of crypto-treasury deals draws scrutiny from regulators

Litquidity x Harbinger: Motor Mixer – Tuesday, October 14, Los Angeles

Litquidity Ventures is partnering with Harbinger for yet another epic #LATechWeek event in October. We're hosting an intimate gathering of friends, investors, creators, and founders at an exclusive private car club in Westside, Los Angeles. Join us for an evening of meaningful conversations and connections. Spots are limited. RSVP here.

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