Crypto News: Lithium miners surge

Good morning, it's Amy in Melbourne with your Tuesday newsletter.

Today's must-reads:
• Lithium miners surge
• Scams in Southeast Asia
• Crypto firms sponsor the EPL

Rio Tinto's approach for Arcadium Lithium is sparking optimism that smaller lithium producers could be takeover targets — and is boosting some mining stocks, as Liontown Resources, Sayona Mining and Lithium Americas rose more than 10% on Monday. The world's second-largest miner is yet to provide the financial details of its preliminary move.

Arcadium Lithium's Olaroz project in Northern Argentina. Source: Arcadium Lithium

As the Australian government moves to crack down on scams, new figures show illegal cyber activity has ballooned in Southeast Asia since the pandemic. The United Nations said cyber crime syndicates raked in billions of dollars last year, despite mounting law enforcement efforts.

In markets news, equity futures in Australia were little changed early Tuesday in Sydney. Overseas, a selloff in Big Tech dragged US equities to session lows. Brent crude jumped above $80 a barrel as Middle East tensions mount. China stocks are poised for more gains when mainland markets reopen after a week-long holiday — as the country's brokers gear up for the frantic Tuesday return.

Israel Defense Forces said it intercepted most of a barrage of rockets fired toward Tel Aviv by Hamas, as fighting escalated after a year of war.

Bloomberg reports on two US towns — Pittsview, Alabama and Emporia, Virginia — that both make trailers essential for commerce. Look to the towns to see what happens when China gets hit with tariffs, and the surprising consequences of trying to protect American jobs.

Gold's surge to record highs hasn't stopped bullion from flying off shelves at Costco stores across the US. Costco's one-stop shopping convenience is bringing gold buying to the masses by offering prices that undercut traditional precious metals dealers.

Netflix's 'Tokyo Swindlers' is a streaming hit about fraudsters, writes Bloomberg Opinion's Gearoid Reidy. But its success also reveals some truths about Japan through the storytelling, he says.

A scene from 'Tokyo Swindlers.' Photographer: Ko Shinjo/Shueisha

•JPMorgan Australia Global Market Strategist Kerry Craig on Bloomberg TV: 10 a.m.
•Reserve Bank of Australia September policy meeting minutes: 11:30 a.m.
• RBA Deputy Governor Andrew Hauser to speak in Sydney: Midday

Crypto firms are spending record amounts on deals for the English Premier League 2024/25 season, and for clubs grappling with gambling restrictions, their push is a new source of income. Debut partners for 2024 include crypto exchange Kraken, which sponsors Tottenham Hotspur, Atlético Madrid and RB Leipzig.

Photographer: David Rogers/Getty Images Europe

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