Crypto News: Big deals are back

Good morning, it's Harry here in Sydney where mega deals are in the — very windy — air...

Today's must-reads:
• Blackstone set to snap up data center operator Airtrunk
• Realestate.com.au owner seeks inspection of UK's listings site Rightmove
• Prime Minister's popularity continues to wane

Blackstone Inc. is nearing a deal to acquire Australian data center operator AirTrunk for more than A$20 billion including debt, people familiar with the matter said, in what could be one of the largest digital infrastructure deals this year. Blackstone has emerged as the preferred buyer and is negotiating the final details with AirTrunk owners Macquarie Group and PSP Investments for a transaction that could be signed as soon as this week.

Australia's REA Group — owner of the realestate.com.au brand -- has been mulling an offer for Rightmove Plc, the UK's biggest property portal by market share. Part of Rupert Murdoch's sprawling empire, REA said Monday it's considering a possible offer for Rightmove, prompting the UK's company's shares to soar as much 27.6%. The firm is working with UBS Group AG and Morgan Stanley on its response, Bloomberg reported.

Wild weather across Australia's southeast has killed at least one woman, while the strong winds also left thousands without power and caused flight cancellations. The highest wind gust reached 187 kph in Matsuka Island off the coast of Tasmania.

Shareholders in the Rightmove should resist the opportunistic offer, Bloomberg Opinion's Chris Hughes wrote on Monday, arguing that there would be limited cost savings in a cross-border combination and that the UK's top property portal could do by itself a lot of what REA might bring.

Anthony Albanese's approval rating fell to the lowest since he took office as Prime Minister in 2022 as voters reported mounting struggles with the cost of living. Dissatisfaction with Albanese's performance advanced three percentage points to 54% in the latest Newspoll survey released by The Australian newspaper. The prime minister's approval rating slid two points to 41%.

Global equities hovered near record highs on Monday as investors prepared for what's typically considered the most challenging month for stocks. Europe's Stoxx 600 index pared most losses from earlier in the session after closing at an all-time high on Friday. US equity futures were little changed.

Volkswagen is considering unprecedented factory closures in Germany in a bid for deeper cutbacks. Any shutdowns would mark a first in the country during the company's 87-year history, setting VW up for a clash with powerful unions. Shares gained.

Recent skirmishes between Chinese and Philippine ships have opened a new flashpoint in the South China Sea. This comes shortly after the two nations struck a deal to ease tensions at another hot spot.

• 11:30 a.m.: Australia 2Q Current Account Balance

If you ever need 100,000 balloons for a convention there's actually a guy you can call. From Super Bowls to Olympic ceremonies to the Republican National Convention, Treb Heining is the man behind the big balloon release.

Treb Heining, whose claims to fame include inventing the balloon arch Photographer: M. Scott Brauer

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