☕️ No Dice

Good morning.

Just weeks after announcing that Neuralink had successfully implanted a chip into a human brain for the first time, Elon Musk has said that the patient can control a computer mouse by thought. During a Spaces session on X, Musk said that the patient “seems to have made a full recovery with no ill effects that we are aware of.”

While the idea of a robot inserting a chip into one’s brain remains a touch disconcerting, the possibility of one day literally wishing away an exploding Outlook inbox is undeniably appealing.  

🏆 LOI Subscriber #TBD

Market movers

It seems the house doesn’t always win. Shares in Star Entertainment slunk 23% during trading yesterday, closing at $0.45, as the casino operator weathered the fallout of yet another inquiry announcement from the NSW Independent Casino Commission. The inquiry comes less than two years after a scathing report found that it was unfit to hold a casino licence, as the regulator is not satisfied that the casino has done enough to address its failings. The company has delayed the release of a financial update originally scheduled for release this morning due to the surprise announcement.

The quick sync

• So long WAAAX: Following Altium’s sale to Renesas, Australian investors are hungry for the next generation of tech stocks. (Capital Brief)

• Nvidia eclipsed Tesla as the most traded stock on Wall Street, as investors keenly await the chipmaker’s quarterly results due for release on Thursday morning. (Reuters)

• Barclays chief CS Venkatakrishnan has revealed an ambitious plan to return £10 billion ($19.27 billion) to shareholders via share buybacks and dividends over the next three years as part of a major restructuring (Financial Times)

• A silver lining emerges for the ACCC, after the ANZ-Suncorp merger is given the green light. (Capital Brief)

• UK fintech Monzo is targeting a £4 billion valuation as it races to finalise a funding round from a mix of new and existing investors. (Financial Times)

Trading floor

M&A

• Permira, a London-based firm, has emerged as a potential buyer for Perpetual's Corporate Trust business. (The Australian)

• ANZ is set to increase its $1b hybrid deal by at least $500m. (AFR)

• ANZ's Suncorp acquisition gets tribunal approval. (Capital Brief)

  • Suncorp sells banking arm to ANZ for $4.9b, sparking mixed investor reactions. (AFR)

• PAG's acquisition of Australian Venue Co. is set to be finalised next week. (AFR)

• Texan billionaire Bill Foley adds Toast Martinborough to his portfolio. (BusinessDesk)

• E&P Financial Group's stock surge prompts speculation with brokers hinting at Australian Wealth Advisors Group's potential discounted stock acquisition. (AFR)

• Informatech has tapped Ad Astra as strategic partner. (AFR)

• Fletcher Building seeks an investment bank to sell Tradelink, approaching boutique firms. (The Australian)

• LeasePlan seeks buyers for a $30m SG Fleet stake. (AFR)

• Auction for QAL majority stake faces delay. (AFR)

Capital Markets

• ADTY seeks a $50m investment for healthcare expansion. (AFR)

VC

• Subpod shutters operations due to challenging trading conditions. (BNA)

• Fractel seeks $200k-$750k investment for global expansion, product launches, and sustainability initiatives. (Startup Daily)

• Touch Ventures faces losses from PlanPay and Till Payments investments. (Startup Daily)

People moves

• Virgin Australia CEO Jayne Hrdlicka is stepping down as the company prepares for an IPO. (Capital Brief)

• Judo Bank CEO to step down; strong results reported. (BNA)

• Shaw and Partners recruits Steve Triantafilidis from Morgan Stanley Wealth Management, marking the third such hire in under six months. (AFR)

The watercooler