Here's a quick overview of today's main events:
Stripe acquires OpenRouter for over seven billion dollars
OceanaGold to acquire Ausgold for AUD 776 million
Ausgold will receive a stake of up to eight percent in OceanaGold
Lynk and Omnispace complete merger to form Elveo Mobile
China's industrial output slowed to 4.5 percent in July
Bets on Fed rate hikes have fallen sharply
Hormuz is restricting shipping and keeping oil prices high
Foreign Investments
The American payment company Stripe completed the acquisition of the technology startup OpenRouter for over seven billion dollars, according to information published by Bloomberg on August 16. OpenRouter operates a platform that allows developers to access hundreds of artificial intelligence models and choose between them based on price and performance. Just a few months ago, the company was valued at approximately $1.3 billion in an investment round. Its investors include CapitalG, Andreessen Horowitz and Menlo Ventures .
On August 17, OceanaGold announced a significant mining transaction, agreeing to acquire the Australian company Ausgold . The offer values the company's capital at approximately AUD 776 million, or about USD 549 million. Shareholders of Ausgold will receive 0.03365 shares of OceanaGold for each of their shares, or may be able to use a limited cash alternative. After the completion, they will own approximately six to eight percent of the combined company. The main asset of Ausgold is the Katanning gold project in Western Australia. A major shareholder, Dundee Corporation , which controls approximately 7.7 percent of Ausgold, has already announced its support for the deal.
In satellite communications, Lynk Global and Omnispace announced the completion of their merger to form Elveo Mobile . The companies released the news on August 17, stating that the merger itself was completed on August 14. The new company will focus on direct satellite connectivity for ordinary mobile phones and other devices. Investors in both companies include, among others, SES, Fortress Investment Group , StepStone Group , Columbia Capital and Telcom Ventures . Elveo already has business agreements with more than 50 mobile operators and distribution partners in over 60 countries.
Significant Events with Global Impact
In financial markets, expectations of further increases in US interest rates have decreased. Reuters reported that the probability of a September rate hike by the Fed has fallen to approximately 30 percent from about 50 percent last week. This is due to weaker US retail sales and consumer confidence. The dollar weakened, while most European and Asian stocks rose.
The risk remains in the Middle East. Shipping through the Strait of Hormuz has sharply declined following attacks on tankers. On Saturday, only five cargo ships passed through the strait, and on Sunday, according to tracking data, none, compared to more than 130 ships per day before the war. Brent was trading around $88 a barrel on Monday. The restriction of one of the world's most important energy routes continues to pose a risk to oil prices, LNG, transportation, and global inflation.
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