China's rising global influence and currency strength are prominent, as are US-China tech and trade tensions, while India strengthens energy ties with Russia and EU officials seek new trade deals amid global fragmentation and US tariff strategies. President Xi outlines China's ambition to reshape the world order while the Chinese renminbi strengthens significantly against the dollar, and US chipmaking curbs impact South Korean giants, reflecting a fractured global trading system. Simultaneously, EU officials pursue trade deals globally, a strong case is made for the EU-Mercosur agreement, and Italy's PM Meloni responds to accusations of tax nomadism.

• Chinese renminbi strongest against dollar since Trump’s election win — Financial Times -
• FirstFT: Xi outlines China’s ambition to reshape world older — Financial Times -
• Xi outlines China’s ambition to reshape world order in showpiece summit — Financial Times -

• A strong case for the EU-Mercosur trade deal — Financial Times -
• American-Made Businesses Are Clamoring to Get on This Tariff List — Wall Street Journal -
• The real significance of the US court ruling on tariffs — Financial Times -
• Modi hails India’s energy ties with Russia despite US anger — Financial Times -
• EU officials criss-cross the globe for trade deals — Financial Times -
• Meloni hits back at Bayrou in ‘tax nomadism’ row — Financial Times -
• US chipmaking curbs hit Samsung and SK Hynix — Financial Times -
• Saudi-backed Savvy Games seeks multibillion-dollar China deals — Financial Times -
• India Was the Economic Alternative to China. Trump Ended That. — The New York Times Business -
• China rules business must help pick up pension bill as population ages — Financial Times -
• After globalisation: What's next for a fractured world? With Neil Shearing — Financial Times -

President Trump's influence on the Federal Reserve and government agencies raises concerns, while the Trump family's crypto token debuts with a fall and US agriculture faces challenges alongside a decline in green shareholder proposals. Investors underestimate the threat from Trump's Fed attacks, while discussions cover US capitalism's unique characteristics and calls for more Covid vaccine data.

• Trump family’s World Liberty Financial token falls in trading debut — Financial Times -
• Trump calls for more Covid vaccine data to stop CDC ‘being ripped apart’ — Financial Times -
• US shareholders fail to pass any green proposals for first time in 6 years — Financial Times -

• Trump’s fawning cabinet and the threat to US democracy — Financial Times -
• Corn and Soybeans Rule the American Farm. Why That’s a Growing Problem, in Charts — Wall Street Journal -
• How—and Why—U.S. Capitalism Is Unlike Any Other — Wall Street Journal -
• USA250 | A Letter From The Wall Street Journal’s Editor in Chief — Wall Street Journal -
• Investors underestimate Trump’s threat to the Fed, economists warn — Financial Times -
• FirstFT: Investors underestimate risk from Trump’s Fed attacks, say economists — Financial Times -
• Maha: Making America Held to international standards Again — Financial Times -
• How Trump gutted America’s disaster relief agency — Financial Times -

Keir Starmer's government undertakes significant reshuffles to address the UK economy, facing pressure on immigration policy and council pension fund fees, while the housing market shows signs of recovery. Rachel Reeves faces time constraints regarding the economy, Starmer announces a major Downing Street shake-up, and Reform UK calls for an end to 'egregious' council pension fund fees.

• From Blair to Putin to Starmer: PR chief Tim Allan’s CV — Financial Times -
• UK to suspend family reunion applications from asylum seekers — Financial Times -
• Starmer announces major Downing Street shake-up — Financial Times -

• Reform UK calls for end to ‘egregious’ council pension fund fees — Financial Times -
• Keir Starmer seeks to get a grip on UK economy with new hires — Financial Times -
• Rachel Reeves is running out of time — Financial Times -
• UK lenders approved most mortgages for six months in July, says BoE — Financial Times -
• Badenoch’s Stanford dispute offers Tory plotters a quick kill — Financial Times -
• Yes it’s worth getting close to Farage, just don’t be photographed with him — Financial Times -

Nestlé's CEO dismissal over an inappropriate relationship makes headlines, as European banks push for lower cross-border hurdles and Hong Kong's office market sees bargain hunting, with concerns rising over stablecoin risks and market volatility in Turkey and Indonesia. Citadel's options fight shapes Wall Street's new order, while Equinor plans a significant investment in Orsted shares, and London's IPO drought leads PR firms to broaden services.

• European banks push for lower cross-border hurdles — Financial Times -
• Companies snap up bargains in Hong Kong’s prime office rental market — Financial Times -
• Nestlé Fires CEO Following Probe of Romantic Relationship With Subordinate — Wall Street Journal -

• Nestlé Dismisses CEO Laurent Freixe Over Inappropriate Relationship With a Subordinate — The New York Times Business -
• Turkey ends short-selling ban as stocks recover from political crisis — Financial Times -
• Citadel’s options fight is a battle for the new Wall Street order — Financial Times -
• Some more thoughts on the ARKK-Bullish trade — Financial Times -
• Equinor to Subscribe for Orsted Shares Worth Up to $939 Million in Rights Issue — Wall Street Journal -
• Indonesian markets roiled by political turmoil — Financial Times -
• French business warns of recession risk as political turmoil deepens — Financial Times -
• Stablecoins could trigger taxpayer bailouts, warns Nobel laureate — Financial Times -
• Apollo bust-up heads to New York trial — Financial Times -
• London’s IPO drought: PRs swap ‘leaks over lunch’ for board whispering — Financial Times -

Scholars debate claims of genocide in Gaza, Israeli banks offer giveaways amid wartime profits, and Europe faces GPS interference, while the Ukraine war causes a global TNT shortage and a powerful earthquake devastates Afghanistan. Von der Leyen's plane is hit by suspected Russian GPS interference, leading to EU plans for twice-yearly defense investment reviews and concerns over the global TNT supply for military and mining uses.

• Israel committing genocide in Gaza, say scholars — Financial Times -
• Von der Leyen’s plane hit by suspected Russian GPS interference — Financial Times -
• Israeli banks plan giveaways after anger over wartime profits — Financial Times -

• Ukraine War Leads to Global Shortage of TNT for Military and Mining Use — The New York Times Business -
• Powerful earthquake in Afghanistan leaves more than 800 dead — Financial Times -
• Von der Leyen plans twice yearly review of EU countries’ defence investments — Financial Times -

The power grid grapples with the future demand of data centers, while electric vehicle sales surge ahead of tax credit expiration, reflecting dynamic shifts in energy and technology sectors. Data centers that don't yet exist are already haunting the grid, and EV deals boom ahead of their tax credit expiration, indicating key developments in these interconnected industries.

• Data Centers That Don’t Exist Yet Are Already Haunting the Grid — Wall Street Journal -
• EV Deals Are Booming Ahead of Tax-Credit Expiration — Wall Street Journal -

Bad Bunny's Puerto Rico residency boosts the local economy, a Springsteen biopic draws attention at Telluride, and WNBA star Sophie Cunningham gains sponsorships, illustrating the intersection of culture, media, and commerce. Dan Rather continues chasing the news at 93, ESPN employees lament their home base, and Great Lakes ghost ships emerge, showcasing diverse impacts of popular culture, media, and unique environmental stories.

• At Telluride, a Springsteen Biopic Means a Springsteen Appearance — The New York Times Business -
• Great Lakes ghost ships emerge, courtesy of the quagga mussel — Financial Times -
• How Bad Bunny’s Puerto Rico Residency is Boosting the Economy — The New York Times Business -

• Ask a Stylist: can I wear lace trim without looking like I’m in a négligée? — Financial Times -
• ESPN Employees’ Favorite Sport: Lamenting Their Home Base — Wall Street Journal -
• Dan Rather Is Still Chasing the News — The New York Times Business -
• Sophie Cunningham Avenged Caitlin Clark. Now Sponsors (and the Right) Love Her. — The New York Times Business -
• Asset Management: The draw of Milan — Financial Times -
• Five of the best eateries in Lagos, by restaurateur Aji Akokomi — Financial Times -