US stocks hitting a record high on steady inflation contrasts with growing concerns that Trump's tariffs are generating inflation, prompting calls to replace economists and raising questions about data credibility while China trade truces and global market reactions remain central.

• US stocks hit record high as inflation holds steady at 2.7% in July — Financial Times -
• Trump Calls on Goldman to Replace Economist Over Tariff Stance — Wall Street Journal -
• Key Inflation Gauge Sped Up in July as Companies Grappled With Tariffs — The New York Times Business -

• What to know about the report. — The New York Times Business -
• Trump Extends China Tariff Truce by Three Months — The New York Times Business -
• Tariffs are generating inflation — Financial Times -
• What to know about the report. — The New York Times Business -
• Inflation and interest rates tracker: see how your country compares — Financial Times -
• Trump’s Fed nominee has argued that tariffs haven’t raised prices. — The New York Times Business -
• Car companies are paying the tariffs. For now. — The New York Times Business -
• Companies are making hard choices as tariffs take effect. — The New York Times Business -
• What falling out with the US means for India — Financial Times -
• Asian stocks reach record highs as Washington and Beijing signal trade talks — Financial Times -
• Strategic interdependence is rewiring the global economy — Financial Times -
• FirstFT: Markets welcome Trump’s pause in China tariffs — Financial Times -
• UK economy shed jobs in July — Financial Times -
• Stagflation takes centre stage — Financial Times -
• Mexican peso soars as ‘carry trade’ reignites after tariff delays — Financial Times -
• Trump tariffs threaten Modi’s ‘Make in India’ drive — Financial Times -
• The lines between monetary and fiscal policy have blurred — Financial Times -
• India’s blended fuel success angers consumers — Financial Times -

Political developments include VP JD Vance's UK meetings, downplayed expectations for the Trump-Putin summit, and controversy surrounding Trump's pick for the BLS chief, along with moves to open retirement pots to private equity and concerns about future Fed nominations.

• JD Vance to meet Reform’s Nigel Farage after talks with Tory MP Robert Jenrick — Financial Times -
• White House downplays expectations for Trump-Putin Alaska summit — Financial Times -
• ‘The world is not going to trust our data’: Trump’s BLS pick sparks alarm — Financial Times -

• Trump administration takes next step to open US retirement pots to investing in private equity — Financial Times -
• Trump’s Pick of E.J. Antoni as BLS Leader Criticized by the Right and the Left — The New York Times Business -
• Trump Names EJ Antoni New BLS Commissioner — The New York Times Business -
• Trump’s pick for a new statistics chief has questioned the bureau’s methods. — The New York Times Business -
• The unprecedented feud between the US and Brazil — Financial Times -
• What if Trump picks an inflation nutter for Fed chair? — Financial Times -
• Gaming Out the Price of a Trump Trade Deal With China — The New York Times Business -
• From Alaska with love — Financial Times -
• The surreal history of Trump and Putin’s private meetings — Financial Times -
• Trump picks loyalist to head US Bureau of Labor Statistics — Financial Times -

The tech landscape sees CoreWeave's shares drop due to losses, Perplexity's surprising bid for Google Chrome, Sam Altman challenging Neuralink, ongoing US restrictions on Nvidia chips to China, Anthropic's offering to lawmakers, and Musk's dispute with Apple, alongside the historic news of AOL ending dial-up service and hopes for workable quantum computers.

• CoreWeave shares drop after bigger than expected losses — Financial Times -
• Perplexity offers to buy Google Chrome for $35bn — Financial Times -
• Sam Altman challenges Elon Musk with plans for Neuralink rival — Financial Times -

• Trump considers allowing Nvidia to sell more advanced chips in China — Financial Times -
• Anthropic offers Claude chatbot to US lawmakers for $1 — Financial Times -
• Beijing demands Chinese tech giants justify purchases of Nvidia’s H20 chips — Financial Times -
• Musk threatens to sue Apple over App Store rankings — Financial Times -
• Google and IBM believe first workable quantum computer is in sight — Financial Times -
• AOL Will End Its Dial-Up Internet Service (Yes, It’s Still Operating) — The New York Times Business -

Major corporate news includes Shell losing a legal claim, crypto founder Do Kwon pleading guilty to fraud, challenges in saving money on used cars, U.S. Steel's decision to continue operations post-explosion, Larry Ellison's philanthropic and profit ventures, Gildan's potential Hanesbrands acquisition, warnings about higher UK gambling taxes, the evolving private equity landscape, Netflix's new deal with Prince Harry and Meghan Markle, Trump's crypto firm deal, Evergrande's recovered assets, the UFC's new Paramount deal, lithium price volatility, Japanese banks bracing for turbulence, a UK insurer's fight with investors, Scania's plan to export China-built trucks, China creating the world's largest shipbuilder, and a fatal U.S. Steel plant explosion.

• Shell loses legal claim against US LNG operator Venture Global — Financial Times -
• Do Kwon, Crypto Founder Who Caused 2022 Market Crash, Pleads Guilty to Fraud — The New York Times Business -
• Saving Money on a Used Car Is Getting Harder — Wall Street Journal -

• U.S. Steel Plant Where Two Died Will Continue Operating, CEO Says — Wall Street Journal -
• Larry Ellison Wants to Do Good, Do Research and Make a Profit — The New York Times Business -
• T-shirt maker Gildan nears deal to buy US underwear group Hanesbrands — Financial Times -
• Higher gambling taxes risk driving punters to UK’s black market, warns Entain — Financial Times -
• Private equity: Wall Street’s hottest club is becoming less exclusive — Financial Times -
• How Citi’s Strata Elite Travel Card Compares to Amex and Chase — The New York Times Business -
• Netflix Signs New, Looser Deal With Prince Harry and Meghan Markle — The New York Times Business -
• Lithium’s price jolt could prove shortlived — Financial Times -
• Trump Crypto Firm Announces $1.5 Billion Digital Coin Deal — The New York Times Business -
• Show me the Monet: artwork among just $255mn of assets recovered after Evergrande default — Financial Times -
• White House Cage Fight Is ‘Going to Happen,’ Says UFC Boss — Wall Street Journal -
• Daniel Loeb fights investors over plan to convert London vehicle into Cayman insurer — Financial Times -
• Japanese banks brace for another era of turbulence — Financial Times -
• Scania to export half of trucks built at €2bn China plant — Financial Times -
• U.S. Steel Plant Explosion Kills Two People, Injures 10 — Wall Street Journal -
• China Creates World’s No. 1 Shipbuilder, Driven by Rivalry With U.S. — Wall Street Journal -

The UK Treasury is boosting business acumen with new hires, porn site traffic plunges due to new age verification rules, debates continue on Liz Truss's legacy and doctors' pay deals, the government plans a fresh planning overhaul for infrastructure, and MP Tulip Siddiq faces legal scrutiny over citizenship.

• UK Treasury hires ex-John Lewis chair as it bids to boost its business acumen — Financial Times -
• UK porn site traffic plunges as age verification rules take effect — Financial Times -
• When a ‘modest increase’ costs £16bn — Financial Times -

• Reeves orders fresh planning overhaul for ‘critical’ infrastructure projects — Financial Times -
• What Liz Truss was right about — Financial Times -
• Streeting says ‘jury is out’ over pay deal for doctors as talks continue — Financial Times -
• MP Tulip Siddiq holds Bangladeshi citizenship, say prosecutors — Financial Times -

Global tensions escalate with China's new canola tariff on Canada, a Russian breach on Ukraine's eastern front ahead of a US-Russia summit, and a significant surge in European arms production with Germany's Rheinmetall expecting cheaper tanks and Japan stepping into arms exports.

• China’s new canola tariff heightens trade tensions with Canada — Financial Times -
• Russian breach sparks alarm on Ukraine’s eastern front — Financial Times -
• Rheinmetall chief says tanks to get cheaper as defence spending surges — Financial Times -

• Europe builds for war as arms factories expand at triple speed — Financial Times -
• Pacifist Japan takes big step towards becoming major arms exporter — Financial Times -

Diverse topics include the death of former USA Today editor David Mazzarella, the fading dreams of clean hydrogen in America, New Delhi's order to round up stray dogs, a look into organized crime, an Amalfi store's TikTok success, a French nuclear plant shut down by jellyfish, the death of a Gazan photojournalist, the rise of Ukrainian food in London, wildlife aid cuts impacting criminal enterprises, Edinburgh Fringe shows cancelled due to Gaza discussions, and a lighthearted take on British table settings.

• David Mazzarella, Editor Who Helped Reshape USA Today, Dies at 87 — The New York Times Business -
• America’s Clean Hydrogen Dreams Are Fading Again — The New York Times Business -
• New Delhi Is Ordered to Round Up Hundreds of Thousands of Stray Dogs — The New York Times Business -

• Homo Criminalis by Mark Galeotti — the scary truth about organised crime — Financial Times -
• CB Positano, the Amalfi store that took off on TikTok — Financial Times -
• Jellyfish Shut Down French Nuclear Power Plant — The New York Times Business -
• The life and death of Gazan photojournalist Fatima Hassouna — Financial Times -
• Why London is falling in love with Ukrainian food — Financial Times -
• Chinese triads and Mexican cartels exploit US cuts to wildlife aid — Financial Times -
• Gaza in spotlight as Edinburgh Fringe venues cancel shows — Financial Times -
• Oyster forks aloft! Why I will always defend the British table setting — Financial Times -