Global Business News Roundup: Stablecoin Regulations, Mergers, and Market Updates

Leading banking lobbies in the US have voiced concerns that new stablecoin regulations will spark trillions of dollars worth of outflows due to a perceived loophole that allows some crypto exchanges to indirectly pay interest to stablecoin holders. Meanwhile, global business news is filled with major mergers, market updates, and unexpected developments, including Keurig Dr Pepper's acquisition of JDE Peet's, Porsche's decision to ditch battery production, and Orsted's struggles with the Trump administration's halt on a major wind farm project.

Key Takeaways:

• Keurig Dr Pepper's acquisition of JDE Peet's for about €16bn will lead to a separation of the group's coffee and soft drinks units, dismantling a 2018 merger between Keurig and Dr Pepper.
• Porsche has decided to ditch plans to produce its own batteries due to weak demand for electric vehicles, citing sales of EVs in China and the US falling "short of expectations".
• The US Bureau of Ocean Energy Management ordered work to stop on the $1.5bn Revolution Wind project, developed by Orsted, which is a major wind farm project in the US.
• Eli Lilly's anti-obesity pill, orforglipron, has met weight loss targets in its latest trial, with participants experiencing an average weight loss of 10.5% of their body weight.
• Norway's $2tn oil fund, the world's largest sovereign wealth fund, has sold its entire stake in Caterpillar, citing allegations that the company's products are being used to commit "violations of international humanitarian law" by Israel.
• Alex Gerko, the founder of XTX Markets, earned a record-breaking £682mn in profits last year, cementing his position as one of the UK's richest people.
• China's chipmakers are seeking to triple its total output of artificial intelligence processors next year, driven by Beijing's focus on developing the most advanced AI technology.
• Apollo Global Management has lent millions of pounds to a company owned by football "super agent" Kia Joorabchian, further expanding the private capital group's push into European sport.
• Botswana is seeking to take control of diamond miner De Beers, hiring Lazard and Swiss boutique lender CBH to advise on the deal, which comes as the country receives a $12bn investment pledge from Qatar.
• ANZ has issued an apology and offered counselling to over 100 senior bankers who received an email instructing them to return their computers ahead of their formal termination.

Statistics:

• €16bn: The price of Keurig Dr Pepper's acquisition of JDE Peet's
• $1.5bn: The value of the Revolution Wind project halted by the US Bureau of Ocean Energy Management
• 10.5%: The average weight loss experienced by participants in Eli Lilly's anti-obesity pill trial
• £682mn: The record-breaking profits earned by Alex Gerko, founder of XTX Markets
• $2tn: The value of Norway's oil fund
• $12bn: The investment pledge from Qatar to Botswana
• 100+: The number of senior bankers affected by ANZ's email mix-up
• 3: The fold by which China's chipmakers aim to increase its total output of artificial intelligence processors next year

Sources:

• "Banks push to change US stablecoin rules over fears of trillions of dollars in outflows" by Reuters
• "Keurig Dr Pepper to split in two after JDE Peet's sale" by The Financial Times
• "Porsche ditches battery production due to weak demand for EVs" by Bloomberg
• "Eli Lilly's anti-obesity pill meets weight loss targets in trial" by CNBC
• "Norway's $2tn oil fund sells out of Caterpillar" by Bloomberg
• "Alex Gerko, founder of XTX Markets, earns £682mn in profits" by The Telegraph
• "China's chipmakers to triple AI processor output next year" by The Nikkei Asian Review
• "Apollo Global Management lends millions to football agent's firm" by The Financial Times
• "Botswana seeks to take control of De Beers with Lazard and CBH" by Bloomberg
• "ANZ issues apology to senior bankers after email mix-up" by The Australian