Crypto News: Trade pact

Good morning, Sunil here in Sydney with the latest top news for you.

Today's must-reads:
• Australia and the UAE agree a trade deal
• Fund firm Regal bids for rival Platinum
• Macquarie mulls a stake sale in Wavenet

Australia and the United Arab Emirates agreed a trade pact that is set to boost shipments of resources and farm products, while paving the way for more inward investment into green energy and critical minerals. Trade Minister Don Farrell said exports may climb by A$678 million annually.

Hedge fund manager Regal Partners offered to buy rival Platinum Asset Management, part of a global trend of growing consolidation in the asset management business. The deal size is worth around A$526 million, and it remains to be seen if the Sydney-based firms will end up combining.

Macquarie Group is weighing the sale of potentially a majority stake in IT services provider Wavenet and a formal sale process is likely to kick off next year, people with knowledge of the matter said. The UK company could be valued at £1.2 billion (A$2.3 billion) or more in a deal.

Prime Minister Anthony Albanese is seeking to introduce new age limits on social media websites, citing the risk of social harm. On Bloomberg TV's Australia Ahead, Aleesha Rodriguez of the Queensland University of Technology and Bloomberg's Ben Westcott discuss Canberra's latest plans.

Vocus Group, a fiber and network solutions provider, is in talks with banks for a loan of around A$5 billion to back its bid to buy TPG Telecom fiber assets, according to people with knowledge of the matter. TPG has been exploring options for its fixed infrastructure network.

Asia-Pacific stock markets are set for a muted open after Wall Street shares treaded water ahead of a key US Federal Reserve monetary policy decision due on Wednesday. Some bond traders favor bets on a 50 basis points Fed rate cut, likely the start of an easing cycle.

Iran-backed Hezbollah accused Israel of orchestrating the mysterious explosion of thousands of pagers used in Lebanon, an attack that killed several people and wounded nearly 3,000. Theories began to circulate on how devices widely seen as outmoded were turned into weapons.

First-responders carry a wounded man whose handheld pager exploded in Beirut, Lebanon, on Sept. 17. Photographer: Hussein Malla/AP

Microsoft and BlackRock are teaming up to invest in data centers and other infrastructure supporting artificial intelligence. The plan is to attract $30 billion of private equity and leverage that to as much as $100 billion.

Senior US and Chinese economic officials will meet for discussions in Beijing this week amid Washington's concerns about China's growth model. Treasury Secretary Janet Yellen has repeatedly warned that China's overcapacity threatens to flood global markets with artificially cheap goods, killing off industries in the US and globally.

All times Sydney
• 9:20 a.m.: Speech by RBA Assistant Governor Brad Jones in Melbourne
• 10:30 a.m.: Australia's Leading Economic Index for August

Basketball legend Michael Jordan finally found a buyer for his ultra custom mansion in suburban Chicago — after more than a decade of trying. Built in 1995, during the height of Jordan's time on the National Basketball Association's Chicago Bulls, the home is on a seven-acre lot and has nine bedrooms and 19 bathrooms. It was originally listed in 2012 with a price tag of $29 million, which was lowered to $14.9 million by 2015.

Michael Jordan's mansion in Chicago. Photographer: Scott Olson/Getty Images North America

Stay updated by saving our new email address

Our email address is changing, which means you'll be receiving this newsletter from noreply@news.bloomberg.com. Here's how to update your contacts to ensure you continue receiving it:

Gmail: Open an email from Bloomberg, click the three dots in the top right corner, select "Mark as important."
Outlook: Right-click on Bloomberg's email address and select "Add to Outlook Contacts."
Apple Mail: Open the email, click on Bloomberg's email address, and select "Add to Contacts" or "Add to VIPs."
Yahoo Mail: Open an email from Bloomberg, hover over the email address, click "Add to Contacts."