Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, curated by hand to exclude the clutter and ensure you get up to speed in under a minute.
[M&A] Oracle has struck a deal with TikTok to be the ‘technical partner’ for TikTok’s U.S. operations. While the deal is not a complete sale agreement between the two companies, Oracle plans to address the national security concerns raised by Donald Trump regarding the app.
[Inflation] India’s retail inflation stood at 6.69% for the month of August, exceeding the Reserve Bank of India’s inflation target of 4% with +/- 2% band.
[Private Equity] Carlyle Group is considering picking up a $2 billion stake in Mukesh Ambani’s Reliance Retail, which may make the deal Carlyle’s first investment in the Indian retail sector.
[Aviation] Delta Airlines will raise $6.5 billion by issuing senior secured notes with its frequent flyer program SkyMiles pledged as collateral.
[Restructuring] SoftBank’s board has revived the idea of going private. The biggest factor behind this decision is the large valuation gap between SoftBank’s market capitalization and its asset value.
Over60: Economic Times
[M&A] Nvidia has agreed to purchase Arm Holdings from SoftBank in a deal worth close to $40 billion, the largest deal in the semiconductor industry.
Over60: Bloomberg Quint