President Trump's policy decisions significantly impact the economy, including his intervention on Coca-Cola's sugar use and threats to fire Fed Chair Jerome Powell, alongside the economic implications of tariffs driving inflation, new tax bills for gamblers and startups, and changes in immigration and trade deals with Indonesia and Brazil.

• Trump says Coca-Cola will use cane sugar in US production of Coke — Financial Times -
• Trump Says Coca-Cola to Use Cane Sugar in Coke — Wall Street Journal -
• FirstFT: Donald Trump floats firing Fed’s Jay Powell — Financial Times -

• Congress Was Supposed to Vote on 3 Crypto Bills This Week — The New York Times Business -
• Trump Has Penned Letter To Fire Fed Chair Jerome Powell — The New York Times Business -
• Trump trade representative pushes defence start-ups to fill manufacturing gap — Financial Times -
• Republican Tax Bill Is a Losing Deal for Gamblers — The New York Times Business -
• Trump Announces ‘Great Deal’ on Trade With Indonesia — The New York Times Business -
• Trump asked lawmakers whether he should fire Fed’s Powell — Financial Times -
• How Republicans Supersized Silicon Valley’s Favorite Tax Break — The New York Times Business -
• Trump attacks own supporters over Epstein conspiracies — Financial Times -
• The D.E.I. Industry, Scorned by the White House, Turns to ‘Safer’ Topics — The New York Times Business -
• CPI Shows US Inflation Sped Up in June as Trump’s Tariffs Pushed Up Prices — The New York Times Business -
• Should investors care about ICE raids? — Financial Times -
• Trump and Maga are no longer the same thing — Financial Times -
• FirstFT: Zohran Mamdani reaches out to business — Financial Times -
• Trump announces trade deal with Indonesia — Financial Times -
• Chipmaking supplier ASML says Trump tariff impact ‘less negative’ than expected — Financial Times -
• Tariff inflation arrives — Financial Times -
• Trump reaps $50bn tariff haul as world ‘chickens out’ — Financial Times -
• GM’s Korea plants leave Detroit carmaker fully exposed to US tariffs — Financial Times -
• Inside America’s booming immigration detention industry — Financial Times -
• Trump Administration Initiates Trade Investigation of Brazil — The New York Times Business -

Major banks like Goldman Sachs, Bank of America, and Morgan Stanley report surging profits fueled by strong trading revenues and investment banking gains, while Citi poaches JPMorgan dealmakers, United Airlines raises its outlook on travel demand, and **J&J shares jump** on positive forecasts.

• United Airlines raises outlook after ‘acceleration’ in travel demand — Financial Times -
• Citi’s new banking chief steps up poaching of JPMorgan dealmakers — Financial Times -
• Goldman Sachs Sets Series of Records on Tariff Swings — The New York Times Business -

• Goldman Sachs Profit Surges on Higher Trading Revenue — Wall Street Journal -
• Goldman boss takes Wall Street’s ‘most improved’ award — Financial Times -
• J&J shares jump after forecasting sales boost and milder tariff impact — Financial Times -
• Goldman profits jump 22% after investment banking gains — Financial Times -
• Bank of America boosted by bigger loan book and robust trading — Financial Times -
• Morgan Stanley says wealthy clients ‘bought the dip’ amid tariff turmoil — Financial Times -
• Dimon Warns That Private Credit May Be at Its Peak — The New York Times Business -
• Barclays fined £42mn for failed money laundering checks — Financial Times -

The US plans to ban Chinese technology in submarine cables, while Nvidia's CEO navigates China sales amidst chip bans, and Meta's data centers face water supply issues, all set against China's pursuit of AI superpower status and OpenAI's new revenue strategies.

• US set to ban Chinese technology in submarine cables — Financial Times -
• Nvidia C.E.O. Treads Carefully in Beijing — The New York Times Business -
• Meta Built a Data Center Next Door. The Neighbors’ Water Taps Went Dry. — The New York Times Business -

• US companies in China decry overproduction as price war hits profits — Financial Times -
• OpenAI to take cut of ChatGPT shopping sales in hunt for revenues — Financial Times -
• Why politicians need to get over their tech insecurity — Financial Times -
• Nvidia chief vows to ‘accelerate recovery’ of China sales as H20 chip ban lifted — Financial Times -
• EU sets the scene for two-year fight with budget overhaul proposal — Financial Times -
• China Is Spending Billions to Become an A.I. Superpower — The New York Times Business -

The UK experiences an unexpected rise in inflation, faces scrutiny over the cost of its Afghan rescue scheme and related data leaks, and debates the future of green energy subsidies under a potential Reform government, alongside Labour party internal conflicts.

• UK and Germany join forces in push for lucrative sales of military jets and hardware — Financial Times -
• UK green energy groups warned they would lose subsidies under a Reform government — Financial Times -
• ‘Confusion’ reigns over cost of UK’s Afghan rescue scheme, says spending watchdog — Financial Times -

• UK inflation unexpectedly rises to 18-month high of 3.6% — Financial Times -
• UK government auditor questions MoD disclosures of Afghan data leak — Financial Times -
• What the Afghan ‘super-injunction’ tells us about the UK — Financial Times -
• Starmer suspends four rebel Labour MPs — Financial Times -
• UK counterterrorism scheme needs to include violence with no fixed ideology, says report — Financial Times -
• Rachel Reeves’ limited pitch to Britain’s financial sector — Financial Times -
• ‘What reforms?’ City leaders underwhelmed by Rachel Reeves’ financial strategy — Financial Times -
• Hiding scale of Afghan resettlement was a policy error — Financial Times -
• One quarter of British households are late paying energy bills — Financial Times -
• Are Junior Isas the best savings option for children? — Financial Times -
• Why the UK kept an Afghan immigration scheme secret — Financial Times -

Key global events include Japan's shift to the right influenced by a weak yen, EU budget infighting, escalating Israel-Syria tensions and Israel government instability, a Turkish court sentencing an Erdoğan rival, and international concerns over Russia's war finance and Vietnam's power contracts.

• A weak yen is the root of Japan’s lurch to the right — Financial Times -
• Von der Leyen botches €2tn EU budget proposal with chaotic infighting — Financial Times -
• Israel strikes Syrian military headquarters in Damascus — Financial Times -

• Netanyahu suffers another blow as second Haredi party quits Israel government — Financial Times -
• As Germany’s centrists squabble, the far right prepares to pounce — Financial Times -
• Israel and Iran Usher In New Era of Psychological Warfare — The New York Times Business -
• Turkish court sentences top Erdoğan rival to prison — Financial Times -
• Iran’s rival factions trade accusations after Israel war — Financial Times -
• Gaza stampede at GHF aid site kills at least 20 — Financial Times -
• Allianz boss warns Germany risks becoming ‘sick man of Europe’ — Financial Times -
• The financial front line of Russia’s war — Financial Times -
• Japanese executive sentenced to 3.5 years in China for espionage — Financial Times -
• Brussels moves to placate Paris over South American trade deal — Financial Times -
• Brussels pushes schools to serve ‘made in Europe’ fruit and vegetables — Financial Times -
• Investors rage over Vietnam’s alleged breach of power contracts — Financial Times -
• Inside BCG’s Gaza work scandal — Financial Times -

Coffee buckets become a trending gimmick, whey protein obsession transforms the dairy industry, Prologis ramps up new warehouse construction, and Ford Motors issues a recall for fuel injector issues, while Estée Lauder pushes digital adoption and US beekeepers face new threats.

• What Is a Coffee Bucket? A Trend has Lattes Going Big for Attention. — The New York Times Business -
• Prologis Ramps Up Plans for New Warehouse Construction — Wall Street Journal -
• America’s Whey Protein Obsession Is Transforming the Dairy Industry — The New York Times Business -

• Amid Devastating Winter Losses, Another Threat Looms For U.S. Beekeepers — The New York Times Business -
• Ford Motor Recalls Some Broncos and Escapes Over Fuel Injectors — Wall Street Journal -
• Estée Lauder, a Late Digital Adopter, Makes New Push to Reach Shoppers Online — Wall Street Journal -
• Trustpilot’s five-star rating feels a little generous — Financial Times -

Discussions cover the legacy of NPR's co-founder amidst defunding concerns, the passing of reporter Henry Raymont, the unique bipartisan appeal of a Washington D.C. restaurant, and mayoral candidate Mamdani's clarification on controversial slogans.

• More US students choosing UK universities after Trump attacks on higher education — Financial Times -
• Henry Raymont, First to Report Bay of Pigs Invasion, Dies at 98 — The New York Times Business -
• He Helped Create NPR. Now He May See it Be Defunded. — The New York Times Business -

• Looking for a Summer Ski Fix? Head to South America. — The New York Times Business -
• Trade tariff game theory, with Dmitry Grozoubinski — Financial Times -
• The Economy Seems Healthy. Were the Warnings About Tariffs Overblown? — The New York Times Business -
• ‘Amazon of guns’ backed by Donald Trump Jr sinks on stock market debut — Financial Times -
• Is This Restaurant the Only Thing Democrats and Republicans Agree On? — The New York Times Business -
• Scottish estate switch up: ‘Now it’s not all just about how much you can shoot’ — Financial Times -
• Inflation and interest rates tracker: see how your country compares — Financial Times -
• How some sunshine will affect Europe’s bond market — Financial Times -
• ‘Fire’ is now the greater threat to investors than ‘ice’ — Financial Times -
• We Are Green and Trembling — the haunting, hallucinatory story of Antonio de Erauso — Financial Times -
• Exploring Lekki, Lagos’s most dynamic district — Financial Times -
• Mamdani Says He Will ‘Discourage’ the Term ‘Globalize the Intifada’ — The New York Times Business -
• New York’s Mamdani wins over some of the city’s business elite — Financial Times -
• Mamdani Clarifies ‘Globalize the Intifada’ Stance in Meeting With Business Elites — Wall Street Journal -