US stocks closed mixed on Friday as the tech selloff subsided

US Aggregate Bond Index is up 6.7% YTD on track for its best year since 2020

Indian rupee is nearing a record low

Wheat hit a four-month high after a drone attack in Russia 

Bitcoin erased all YTD gains

What we're watching this week:  

Full calendar here

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Tech billionaires want to build data centers in space (WSJ)

US hit out at EU delays in cutting tariffs and rules (FT)

US will cut Swiss tariffs to 15% after an investment pledge (BBG)

Atlanta Fed President Raphael Bostic will retire (WSJ)

SEC will review proxy advisory process (BBG)

Investors brace for release of US data backlog (RT)

Japan Q3 GDP fell 1.8% YoY in Q3 (CNBC)

Wall Street muscles in on VC turf with private markets M&A (BBG)

Blue Owl blocked redemptions in its earliest private credit fund (FT)

Wall Street cools on Oracle as AI debt concerns mount (CNBC)

Rattled bulls look to strong earnings outlooks as market wobbles (BBG)

Hedge fund giants cut 'Mag 7' exposure in Q3 (RT)

DWS CEO says there is 'no playbook' for AI bubble fears (RT)

Asia AI boom faces reality check as foreigners deepen selling (BBG)

Foreign investors return to China's stock market (FT)

EQT takes on US megafunds with big Asia push (BBG)

Firms shrink FX hedges as US market turmoil fades (BBG)

Popular 0DTE options strategies keep a lid on stock rallies (BBG)

Crowded EM trades draw warnings from money managers (BBG)

Canada's CPPIB returned 5.4% in Q3 boosted by stocks and US dollar (BBG)

Apple stepped up succession planning for CEO Tim Cook (FT)

JPMorgan wins fight with fintechs over fees for customer data (CNBC)

JPMorgan expands in Dubai as Middle East competition heats up (RT)

Walmart CEO Doug McMillon will retire (CNBC)

Consumers flash holiday warning signs (CNBC)

Firms says 2026 will be the worst college grad job market since Covid (WSJ)

Man who got clemency was sentenced to 37 years for again defrauding investors (BBG)

Shareholders of railroad giants Union Pacific and Norfolk Southern overwhelmingly voted to approve their historic $85B merger

Pharma giant Merck agreed to acquire biotech company Cidara Therapeutics in a $9.2B cash deal

PE firms Warburg Pincus and Permira are in talks to acquire $5.6B-listed financial services software maker Clearwater Analytics

PE firms SK Capital Partners and Lone Star and Swiss distribution firm DKSH are among bidders in talks to acquire Swiss drug distribution company Swixx Biopharma in a $1.7B-$2.3B deal

Danish drugmaker H. Lundbeck made an unsolicited $2.25B for Avadel Pharmaceuticals, potentially upending biopharma firm Alkermes' pending deal for Avadel

Guatemalan consumer goods firm Castillo Hermanos acquired SunnyD-maker Harvest Hill from Brynwood Partners for $1.4B

PE firm Leonard Green is in talks to acquire recreational golf company Topgolf from Topgolf Callaway Brands for $1B

RedBird Capital Partners dropped its $658M bid for UK newspaper The Telegraph

A consortium of investors including IFC is in talks to acquire a 49% stake in Indian hydrogen energy producer Hygenco for $125M

Investment bank Brean Capital is in advanced talks to acquire the capital markets business of KKR-owned wealth management firm Janney Montgomery Scott

Russian energy giant Lukoil is in talks with bidders to sell its international energy assets ahead of sanctions

Fiber networks firm Vytal Group agreed to acquire Paramount Skydance's stake in Chilean free-to-air TV channel Chilevision

Activist hedge fund Elliott will acquire a 21.67% stake in UK-listed Mideast healthcare firm Integrated Diagnostics Holding for $87M from PE firm Actis 

Mantiqueira USA, a wholly owned subsidiary of a JV between meats giant JBS and founders of Mantiqueira Alimentos, agreed to acquire Hickman's Egg Ranch

US law firm McDermott Will & Schulte is exploring a complex restructuring to allow PE firms to buy a stake

European second-hand fashion online marketplace Vinted is discussing a share sale at a $9.2B valuation

CHAOS Industries, a startup developing next-gen defense systems, raised a $510M round at a $4.5B valuation led by Valor Equity Partners

Instant commerce startup Gopuff raised $250M in funding led by Eldridge Industries and Valor Equity Partner

Maybern, an OS for private funds, raised a $50M Series B led by Battery Ventures

ElectronX, an energy exchange startup, raised a $30M Series A led by DCVC

TandemAI, a drug discovery platform that combines AI and computational methods, raised a $22M Series A extension

Anzen, a startup building an AI platform for commercial insurance distribution, raised a $16M Series A led by Madrona

Backflip, a real estate fintech transforming how investors access and deploy capital, raised $10M in equity from FirstMark Capital, LiveOak Venture Partners, and Vertical Venture Partners

Self, a startup providing privacy-preserving proof of humanity and verification infrastructure, raised a $9M seed round from Greenfield Capital, Spearhead VC, and more

Lative, an Irish AI sales planning platform, raised $7.4M in funding led by Act Venture Capital and Senovo VC

Ghanem, a Saudi real estate platform specializing in fractional ownership, raised $7.1M in funding from Al-Romaih Group

Agentic AI platform Sim.ai raised a $7M Series A led by Standard Capital

European virtual power plant tech startup LIFEPOWR raised a $6.5M round led by Noshaq and SPDG

Confidein, a faith and technology company, raised a $6M seed round

Scorbit, a gaming platform merging physical arcades with online communities and competition, raised a $5M+ seed round led by Detroit Venture Partners

$62B-listed Canadian miner Barrick is considering splitting into two separate entities for North America and Asia-Africa, which could also include a full sale of Barrick's Africa and Pakistan assets once it secures financing

Finnish renewable products company Stora Enso is seeking to spin off its Swedish forest assets valued at $6.6B

Berkshire Hathaway bought a $4.9B stake in Alphabet and a $1.6B stake in UnitedHealth Group and continued offloading Apple and Bank of America stock

Tiger Global slashed its Meta stake by 63% to $2.1B and also sold off Eli Lilly, Novo Nordisk, and CrowdStrike

Activist hedge fund Starboard Value sold its $1B position in Pfizer 

Activist investor Kimmeridge Energy Management took a ~1% stake in $22B-listed shale producer Devon Energy

Tech investor Coatue raised its Meta stake to make it its biggest holding

Activist hedge fund Irenic built a stake in pizza chain Papa John's

Argentine power producer Genneia is preparing for a US IPO

Turkish broadcaster TV8 is considering an IPO

Saudi SWF PIF cut US stocks exposure by 18% and fully exited nine stocks in Q3 ahead of their Crown Prince's meeting with Trump

Teamshares, an employee ownership platform for SMBs, agreed to merge with T. Rowe Price-backed  Live Oak Acquisition Corp. in a $746M deal

Australian investment manager IFM Investors is in talks to raise $2B in debt to back its acquisition of Swiss data center operator Green Group

Saudi lender Riyad Bank secured a $1.5B syndicated loan from Greater China banks as Mideast borrowers tap Asian bank liquidity at record level

eBay raised $1B in a debt offering

PE firm CD&R-backed labels maker Multi-Color Corp's earnings took a hit amid looming debt talks

Purdue Pharma won court approval to exit bankruptcy, ending six years of legal wrangling over a $7.4B settlement

A group of First Brands creditors is demanding new, independent advisors for company units that issued ~$2.5B in off-balance sheet debt

A Brazil court suspended a decision that pushed telecommunications firm Oi into liquidation

Real assets investor Stronghold Investment Management told a judge that Elliott would hurt investors if an O&G fund was forced to liquidate

A private credit loan to enterprise software firm Medallia is being valued at 77¢ and 91¢ by Apollo and KKR funds respectively, a record-wide valuation spread

Poland is setting up a $1.1B tax payer-funded program to spur local tech companies through investments in VC, PE, and private credit funds

European life sciences VC Medicxi raised $580M for its sixth flagship fund

European PE firm CVC is planning to launch its inaugural credit secondaries vehicle next year

Americans are heating their homes with Bitcoin this winter

Bitcoin erased YTD gain as crypto bear market deepens

Binance will accept BlackRock's tokenized fund as collateral 

WSJ did a profile on Dave Popple, the psychologist that the biggest hedge funds hire to assess, coach, mentor, (or even weed out) portfolio managers.

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