Good morning readers. Forget the Swedish meatballs, Arthur Brand found something even more valuable in an IKEA bag—a missing Van Gogh valued up to $6.4 million. Snatched from Singer Laren museum three years ago, the painting had been living a life on the run until an anonymous tipster decided to ring Brand's doorbell. It's a good thing paintings can't talk or this one would have quite the tale to tell. Now the canvas is off to the Van Gogh Museum’s "spa" in Amsterdam for a little facelift because even paintings need a little TLC after a three-year sabbatical.

Let’s jump into today’s storylines.

In today’s digest:

• Fairways and finances

• Headline Hustle: China’s “cash cops”, Amazon’s AI product pitch, artificial wombs are now a reality

• WWE & UFC form a powerhouse

• Pulse Points: What’s Trending

POLITICS

The US Senate dives into the PGA—LIV deal

You know it's a strange day on the golf course when the Senate is demanding to see your scorecard. On Wednesday, bipartisan members of a Senate subcommittee dived deep into the murky waters of a deal between the PGA Tour and Saudi-backed LIV Golf. Members are keenly aware of Saudi Arabia's growing financial footprint in the US, likening their investments to a stealthy spread, as unchecked and elusive as a golfer's mulligan.

The shot heard round the golf world

A subpoena issued to USSA International LLC, the PGA's partner from the Saudi Public Investment Fund (PIF), aimed at unveiling the ties between the two. And while most of us can't tell a sand wedge from a sandwich, the committee is eyeing this as more than a simple play for more green. They say it's all about influence, aiming to direct American perspectives just as one might direct a ball to the 18^th hole. Except this isn't just any golf partner. The PIF ranks dismally in terms of transparency. Their financial swings in the US have grown from a moderate drive of $2.5 billion in 2018 to a smidge over $35 billion today.

But the golf course isn't the only field Saudi Arabia is playing. Think soccer (footie for our English friends). Icons like Neymar, Cristiano Ronaldo, and Karim Benzema have all received tantalizing offers to shift their skills to Saudi's turf. Only Lionel Messi chose a different club, heading to the MLS in the States.

Pfft, big deal. Yet members of the committee remain unmoved by the glitz and glamour, reminding the PIF, “If you want to play in our sandbox, you play by our rules.” The Saudi-PGA partnership is more than just sport—it’s a geopolitical game with high stakes, where 'sportswashing' shadows every move.

Zoom out: While this might feel like sudden-death playoff rounds for the PGA and LIV, the only thing certain is that the world is watching intently. Every swing, every deal, every putt under the scrutiny of Capitol Hill. Just another day in the world of international golf politics.

Headline Hustle

🇨🇳 China's "Cash Cops". As China's economy limps, local governments are pulling out all the stops for cash, leaning on their law enforcers to be both the police and the revenue department. Local cops are dishing out fines like hotcakes, sometimes even traveling hundreds of miles away from their jurisdictions for the moolah. And it's not just about parking violations; companies are feeling the heat too, with some accusing the police of conjuring up charges just to get their hands on assets. Beijing's frowning upon this "profit-seeking law enforcement", but with China's real estate bubble bursting and the pandemic's economic aftermath, it seems the cops' cash registers aren't closing any time soon.

🤖 Amazon’s AI product pitch. Amazon’s unveiling new AI tools, and sellers are the lucky recipients. Want to craft that irresistibly snazzy product description? Let Amazon's AI give you a leg up. Built using large language models, these tools aim to jazz up and simplify listing creation. Robert Tekiela, Amazon's VP, boasts about the AI's knack for deducing product traits with Sherlock-level precision. But there's a teeny catch - the AI might occasionally dream up some 'creative' facts. Meanwhile, eBay and Shopify are also jumping on the AI-listing bandwagon. Seems like AI's the new sales associate in the e-commerce aisle.

👶 Artificial womb’s are now a reality. The sci-fi dream of artificial wombs might soon be a reality. FDA's got a meet-up scheduled to chat about possible human tests of these groundbreaking, bag-like wonders that could be the game-changer for ultra-preemie babies. The who's who of this story? Possibly Vitara Biomedical, a Philly-based company rumored to be hot on the trial track, with a womb prototype that's basically a high-tech bag ensuring lil' ones get their dose of vital fluids and oxygen. But there are a few downsides: while this invention might boost survival rates of munchkins born at just 23 weeks, there's no skipping the risks - think infections and heart failures.

BUSINESS

The powerhouse of fight entertainment

In an era where the masses are cutting the cord and flocking to streaming services, a new contender rises to dominate the live sports and entertainment scene. Meet TKO Group Holdings, the brainchild of a potent merger between the World Wrestling Entertainment (WWE) and Ultimate Fighting Championship (UFC). As of Tuesday, they'll be trading punches and shares on the New York Stock Exchange.

In the ring of streaming

The name TKO, short for "technical knockout," seems fitting given the combat-centric nature of both giants. "We are poised to tap into the soaring demand for live content across both linear and digital platforms," said Mark Shapiro, TKO's President and COO. With exclusive rights deals from behemoths like Fox, Disney, and Comcast's Peacock, this entertainment dynamo is set to blur the lines between traditional TV and online streaming.

Both UFC and WWE bring to the table not just immense viewership from streaming and TV rights but also a treasure trove from ticket sales and merchandising, revolving around their star-studded lineup of fighters. Investor applause for TKO seems to resonate with the idea that while there's still gold in TV's vault, streaming is the dragon's horde everyone's after.

The ultimate plan? Expansion. "Beyond integrating our assets, we're eager to scout potential leagues that can join our fold," hinted Shapiro. At the heart of this merger is the coveted content, and it seems like a wave of negotiations is on the horizon. With the rights to WWE and UFC content nearing their expiration in the next few years, TKO has a golden chance to renegotiate its deals, especially as platforms scramble for engaging content to retain viewers.

Last, but by no means least, the boardroom of TKO will feature the likes of WWE's Vince McMahon as its executive chairman, a man who's seen highs and lows, controversies and comebacks, and remains a colossal figure in the world of entertainment. This fusion of two titans sets the stage for an epic showdown in the fight entertainment industry. The bell has rung. Let the games begin.

SNIPPETS

Pulse Points

Walking the Wall Street path. Birkenstock is lacing up for a new journey. The famed shoemaker just announced an IPO filing with the U.S. SEC. They'll be stepping in under the ticker 'BIRK'.

Streamlining search. It's not about bugs, but about budgets. Google trims hundreds of recruiting roles globally hinting at a wider hiring freeze in the upcoming quarters.

End of an era. From CEO to board member, and now a farewell. Starbucks announces Howard Schultz's departure from its board this Wednesday.

Silencing the past. The iPhone bids adieu to its iconic ring/silent switch. Welcome to the era of the haptic "action button".

Chipping in. Arm, the tech giant behind Apple and Nvidia's core chip designs, goes public with a strong start at $51/share.

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