In BIG PICTURE NEWS, US troops are to get testosterone treatment, oil traders warn on inventory levels, South Korea raises interest rates and we look at what could be in store for the new government. In TECH & MEDIA NEWS, Thinking Machines unveils a new AI model, ASML raises forecasts, Brussel braces for Google impact, the US gets selective on press freedoms, AI models on TikTok shop get pushback and SpaceX's share price goes underwater. In M&A AND IPO NEWS, Stripe and Advent bid for PayPal, CXMT aims for a big IPO and Utmost plans a London flotation. In MISCELLANEOUS NEWS, Helsing's valuation prompts defence bubble concerns, Morgan Stanley gets a boost and Richemont beats sales expectations. AND FINALLY, I bring you an over-engineered sandwich...