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Who is the woman behind Elon Musk at X?

Good morning.

Much gets made of Elon Musk. Disciples think him a visionary, critics call him a conman.

Certainly his power and fortune is immense. But much less is made of the others steering the ship and how those around Musk manage him.

Enter this profile of Linda Yaccarino and her 100 days as CEO of X – one of the ‘hardest jobs in tech’.

*Stock data as of the market close. Commodities and crypto data in USD.

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MARKET MOVERS

Market News: It’s been a long couple of years for Star Entertainment Group.

Shares in the gaming empire have been smashed since October 2021 when a media investigation uncovered money laundering, organised crime, fraud and foreign interference. The allegations triggered a series of public inquiries and threatened Star’s casino licence.

On Wednesday, the company raised capital at a discounted share price to pay down debt, fund new projects and, it hopes, turn the ship around.

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THE QUICK SYNC

Executives from mainland China have been moving into the American office of TikTok, raising internal concerns about the platform’s independence. (WSJ)
Ford and GM are split over a Biden administration tax credit that could determine China’s role in the EV industry. (WSJ)
Novo Nordisk has racked up a 300% increase in prescriptions for its weight-loss drugs. (Financial Times)
Meta is launching a series of chatbots across its messaging apps. (TechCrunch)
The UK regulator is reviewing private market valuations as concerns grow over potential blowups. (Financial Times)
Peloton has teamed up with Lululemon on digital content and apparel – and its share price is soaring. (CNBC)

TRADING FLOOR

M&A:

Glencore and Anglo American are among those bidding to be the strategic partner at Chalice Mining’s Gonneville project. (AFR)
Kroll is exploring expansion opportunities for its restructuring division in Australia, holding discussions with competing firms and sparking acquisition speculation. (Capital Brief)
Singapore’s Temasek is sounding out offers on its 40% stake in energy distribution giant Jemena. (AFR)
Euroz Hartleys executed a 35.2m share trade in Liontown Resources, with indications suggesting Gina Rinehart as the purchaser. (AFR)
Whitehaven Coal is reported to have offered approximately $3.5bn for BHP's Daunia and Blackwater coking coal assets. (The Australian)
Lithium Power International calls in Canaccord Genuity as Codelco shows interest. (AFR)
DIF Capital Partners is reportedly preparing to sell its entire Australian renewable energy portfolio. (AFR)

Capital Markets:

Alibaba has begun its restructuring with an IPO filing for its logistics unit, Cainiao, on the Hong Kong Stock Exchange. (Capital Brief)
Causeway Asset Management has initiated a $100m fundraising process for its second credit fund. (Capital Brief)
Bruce Mathieson, the largest shareholder of the Star Entertainment Group, did not participate in the institutional segment of its $750m equity fundraising (AFR)
William Wu aims to secure $5m for his generative AI photography venture, Artisse. (AFR)

VC:

LinkedIn's seventh annual list of Australia's top startups is primarily composed of companies founded by men. (Smart Company)

Others:

A Virgin IPO could make life even tougher for Qantas. (Capital Brief)
Bruce Mathieson supports the nomination of Bill Wavish, a former Woolworths executive, to shake up Endeavour Group. (BNA | Capital Brief)
Macquarie suggests that now is the time to reinvest in lithium, as Australian producers trade at discounted prices. (The Australian)
Guy Fergusson, co-CEO of Grant Samuel, will leave the corporate advisory firm after four years. (AFR)
Jacinta Allan is set to succeed Daniel Andrews as the Premier of Victoria. (Capital Brief)
ResMed's stock has surged by over 8% since Monday, driven by a favorable report from Goldman Sachs. (Capital Brief)
Australia's annual consumer price index (CPI) increased by 5.2% in the year ending August. (Capital Brief)
The US Federal Trade Commission (FTC) has lodged an antitrust lawsuit against Amazon. (Capital Brief)
New York court finds former US president Donald Trump committed fraud by inflating assets in a civil case. (Capital Brief)