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Tiger wants to offload some of its private investments, Twitter named a new CEO, Apple is testing new chips, emerging market currencies might be on the cusp of a rally, bean shortages are sending coffee prices through the roof, Argentina is hiking rates, and Sam Altman’s crypto startup is raising $100M.

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Let’s dive in.

Before The Bell

Markets

• US stocks dipped Friday after US data showed declining consumer sentiment and increasing expectations for higher inflation

  • The Dow slid for a fifth-straight day for its longest losing streak in two months

  • The S&P and Dow posted a second-straight weekly decline

• Bitcoin hit a two-month low of $26k

• Janet Yellen will meet with Jamie Dimon, Jane Fraser and other board members of the Bank Policy Institute in Washington to discuss the debt limit talks

Earnings

• What we're watching this week:

  • Today: Tower Semiconductor

  • Tuesday: Baidu, Tupperware, Home Depot

  • Wednesday: Take-Two Interactive, Target, Wix

  • Thursday: Walmart, Alibaba, Bath & Body Works, Canada Goose, Nio

  • Friday: Deere, Foot Locker

• Full calendar here

Headline Roundup

• US consumer sentiment fell to a six-month low on debt ceiling debacle (RT)

• Tiger Global seeks to sell private-company stakes into secondary market (BBG)

• China's recovery lifts US companies' sales as domestic consumers pull back spending (CNBC)

• Twitter named Linda Yaccarino as new CEO (BBG)

• Carlyle is exploring entry into India’s private credit market (BBG)

• Ireland plans to set up a sovereign wealth fund next year (FT)

• Apple begins testing speedy M3 chips as it pursues Mac comeback (BBG)

• G7 to vow diversifying of supply chains, filling bank regulatory gaps (RT)

• Chinese consumer inflation slows to lowest level in two years (WSJ)

• New York State Pension sold Alibaba, Lululemon and GE stock (YF)

• Major investors see emerging-market currencies on cusp of rally (BBG)

• Tesla recalled virtually all its cars in China (BBG)

• Bean shortage drives up cost of even the cheapest cup of coffee (BBG)

• Russia row raises South Africa investor risk as economy flounders (BBG)

• Exxon is downsizing its executive suite (WSJ)

• Argentina to hike rates in bid to stem inflation crisis (BBG)

• Olive oil prices hit 26-year high amid supply setbacks (YF)

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Deal Flow

M&A / Investments

• Newmont is nearing a deal to acquire Newcrest Mining for $19.5B, which will cement its position as the world’s biggest gold producer (BBG)

• Battery maker ProLogium will invest $5.7B by 2030 in a new gigafactory in the French city of Dunkirk and will IPO on the stock market to fund its expansion (RT)

• Third Point’s Daniel Loeb is no longer exploring a potential $1.6B acquisition of reinsurer SiriusPoint (BBG)

• Bregal Investments is exploring a sale of power electronics provider EA Elektro-Automatik for at least $1B (BBG)

• Austin Russell, the 28-year-old automotive tech tycoon, has acquired an 82% stake in Forbes Global Media Holdings in a deal that values the company at ~$800M (BBG)

• Egypt sold a 9.5% stake in state-controlled Telecom Egypt for $122M (RT)

• Lyft says it’s open to offers but not actively pursuing a sale (BBG)

• PE firm Vector Capital is in advanced talks to acquire Riverbed Technology, a software and networking company backed by Apollo (BBG)

• Richemont, a Swiss luxury goods conglomerate, dismissed talks of a takeover by rival LVMH or a business combination with Kering (BBG)

• Germany’s Thyssenkrupp and Japan’s NSK have terminated joint venture talks after a year of discussion (RT)

• Colombia’s largest airline, Avianca Holdings, has abandoned its integration plan with low-cost carrier Viva Air on regulatory concerns (BBG)

• Steico’s controlling shareholder and CEO Udo Schramek is exploring a sale of his stake in the specialist wood-based insulation maker (BBG)

VC

• Indian edtech startup Byju’s raised $250M in funding at a $22B valuation led by Davidson Kempner (TC)

• Worldcoin, Sam Altman’s secure global cryptocurrency that will use iris scanning tech to verify users, is close to raising $100M (FT)

• Everseen, an AI-powered computer vision and automation solutions startup, raised a $71.1M Series A led by Crosspoint Capital Partners (FN)

• Sealonix, a startup developing hemostatic sealants for surgical use, raised a $20M Series A led by Excelestar Ventures (PRN)

• Edflex, a Paris-based e-learning content platform, raised a $13M funding round led by Educapital (FN)

• Synco, a real-time messaging platform for property management teams, raised a $5.5M seed round led by MetaProp, Caren Maio & Adam Pittenger of Moved.com, and others (FN)

• The Game Company, an AI-driven cloud-based gaming platform, raised a $5M pre-seed round at a $40M valuation led by Osman Masud (FN)

• Dolomite, a decentralized money market protocol and DEX, raised a $2.5M round led by Draper Goren Holm and NGC (FN)

IPO / Direct Listings / Issuances / Block Trades

• SoftBank is testing investor appetite for an IPO of British chip designer Arm, which could raise as much as $10B at a $30B-$70B valuation as early as September (BBG)

• Data and marketing automation firm Klaviyo confidentially filed for IPO and is considering a $750M+ capital raise (RT)

• Maggioli, an Italy-based provider of digital solutions to public authorities, is planning to raise $110M in a listing on the Milan bourse (RT)

• AngloGold Ashanti, a former South African mining company, plans to list in the US and make London its new headquarters (BBG)

• Saudi Arabia’s Morabaha Marina Financing Company is looking to raise $83.4M in an IPO in Tadawul (RT)

SPAC

• Vietnamese EV maker VinFast will list in the US via a merger with Black Spade Acquisition Co in a $27B deal (RT)

Debt

• Abu Dhabi sovereign wealth fund Mubadala drew $18B in demand for a $1.5B bond sale (RT)

Bankruptcy / Restructuring

• Light, a Brazilian power distributor, filed for Chapter 11 bankruptcy protection with $2.2B in debt (RT)

• Drugmaker Athenex filed for Chapter 11 bankruptcy with estimated assets and liabilities of $100M-$500M (RT)

• Vice Media filed for bankruptcy protection as lenders prepare a takeover (FT)

Fundraising

• Onex is halting its intended $8B capital raise for its sixth flagship PE fund (BBG)

• A team of investors is looking to create a new $200M fund called TenSquared Capital to invest in crypto startups (BBG)

Crypto Corner

• Binance is withdrawing from Canada weeks after the country issued new guidelines for exchanges that include investor limits and mandatory registrations (RT)

• Bankrupt crypto exchange BlockFi customers who tried to reclaim $300M in crypto don’t have a right to the digital assets (BBG)

• Binance.US is looking into decreasing founder and majority stakeholder Changpeng Zhao’s ownership to appease US regulators (CD)

• A Montenegro court released crypto fraudster Do Kwon on bail (RT)

Exec’s Picks

• The Wall Street Journal published a piece on Larry Fink’s potential succession plan once BlackRock’s head man steps down.

• Business Insider covered (one of many) stories of a software engineer secretly working multiple jobs while remote.

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