Finance news on November 2, 2026

1. 0106:30 UTC

   Apollo opens European lending arm with $11.2 billion of capacity

   2 outlets · first: Bloomberg Banking

   Machine summary A private-credit platform called the European Credit Company, with lending capacity exceeding 10 billion euros ($11.2 billion) and support from the Abu Dhabi Investment Council alongside other strategic partners, was announced by Apollo Global Management. The venture is chaired by Christian Meissner, with Giacomo Petrobelli as chief executive officer, and plans to lend to large and mid-market companies and real-asset owners across Europe.

   1. Christian Meissner is chairman of the venture and Giacomo Petrobelli serves as chief executive officer
   2. The platform plans to invest in performing credit in large and mid-market companies, including corporate and asset-backed lending and lending to real-asset owners in infrastructure and real estate
   3. Apollo president Jim Zelter said financing needs in Europe span energy transition and transmission, defense, and digital and traditional infrastructure

   Reported by Bloomberg and CNBC.

   • Apollo Global Management
   • Abu Dhabi Investment Council
   • European Credit Company (Apollo European private credit platform)

2. 0221:46 UTC

   Apple profit rises 12% while memory chip costs climb

   2 outlets · first: nytimes.com Earnings

   Machine summary The company posted a 47.9% gross margin for the September quarter and forecast 45% to 46% for the December quarter, a range TechCrunch attributed largely to higher memory chip costs.

   1. Apple's inventory rose from $11.09 billion in fiscal Q3 to $14.54 billion in fiscal Q4, a 31.1% sequential increase, according to TechCrunch
   2. Year-over-year, inventory grew 154.3% from $5.72 billion in Q4 2025, driven by stockpiling of computer memory, TechCrunch reported
   3. Manufacturing purchase obligations increased by $33 billion between the June and September quarters, CEO John Ternus told analysts
   4. Apple implemented price increases earlier in 2026 on Mac and iPad at the end of June and on iPhone in September, per TechCrunch

   Reported by nytimes.com and techcrunch.com.

   • Apple
   • iPhone
   • John Ternus
   • iPad
   • Mac

3. 0300:29 UTC

   Indian VCs explore evergreen funds for longer startup runway

   2 outlets · first: The Financial Express Regulation

   Machine summary The report states that Indian rules currently require domestic Category I and II alternative investment funds to be closed-ended with a fixed tenure and corpus, so some firms instead operate arrangements that allow continued deployment and reinvestment of exit proceeds.

   1. The report says a business can take 10–15 years to reach maturity and an IPO, while the average life of a fund is under 10 years.
   2. Evergreen funds have no fixed termination date and can reinvest proceeds from successful exits rather than returning capital on a set timetable, per the report.
   3. At present, rules in India bar domestic alternative investment funds of Category I and II from operating as evergreen structures; according to the report, such vehicles must be closed-ended, with a set tenure and corpus.
   4. The report notes that a number of Indian companies call themselves evergreen but employ frameworks that enable ongoing investment of capital and recycling of sale proceeds instead of functioning as officially defined evergreen vehicles.
   5. Siddarth Pai, managing partner, CFO and ESG officer at 3one4 Capital, said the standard cycle "does not account for funding winters, macro shocks, and other extraneous factors," and that evergreen funds can stay invested beyond the traditional cycle and after a listing.

   Reported by The Financial Express and IPA.

   • 3one4 Capital
   • Category I and II alternative investment funds (AIFs)
   • The Financial Express
   • Evergreen funds

4. 0406:00 UTC

   Egyptian fintech fund Nclude completes final close above $112 million

   2 outlets · first: - Disrupt Africa Markets

   Machine summary After DPI took on the advisory role through a 2025 restructuring, the fund’s limited-partner base was widened with additional investors. Capital deployment is concentrated in Egypt, with up to 30 per cent of the mandate deployable outside the country.

   1. Established in Egypt during 2022, the fund passed to Development Partners International's management in 2025, following a restructuring.
   2. Nclude has backed 15 companies so far, the report states
   3. The fund writes cheques of between US$500,000 and US$10 million across seed to Series C stages
   4. Up to 30 per cent of the fund's mandate can be deployed outside Egypt, with Egypt remaining its core market
   5. DPI Venture Capital, DPI's dedicated VC platform, was launched through the restructuring transaction, Disrupt Africa reported in April 2025

   Reported by - Disrupt Africa.

   • Nclude
   • DPI Venture Capital
   • Development Partners International (DPI)

Each summary and its key facts are a machine summary of the reports linked under it; the outlets, times and counts come from those reports' own records. How a rundown is built.