Washington's commitment to antitrust cases against Big Tech, despite a Google setback, signals a continuing regulatory push, while Newsmax has also filed an antitrust lawsuit against Fox News, indicating a broader legal landscape challenging market dominance.

• Washington doubles down on Big Tech antitrust cases despite Google setback — Financial Times -
• Newsmax Accuses Fox News of Violating Antitrust Laws — The New York Times Business -
• Opinion | AI Wins the Google Antitrust Suit — Wall Street Journal -

• Newsmax Files Antitrust Lawsuit Against Fox News — Wall Street Journal -
• Google dodges a bullet — Financial Times -
• Google Search Monopoly Ruling Sends Signal for Big-Tech Antitrust Cases — The New York Times Business -
• Google shares jump after judge refrains from ordering break-up — Financial Times -
• Did Google Just Get Spared? Investors Think So. — The New York Times Business -
• US court reinstates antitrust commissioner Trump tried to fire — Financial Times -

A strengthening alliance between China, Russia, and North Korea, highlighted by a Beijing military parade, contrasts with US military action in Venezuela and stalled Ukraine peace efforts, alongside European concerns over EU-US trade deals and Russian GPS jamming.

• US launches military campaign against Venezuelan drug cartels — Financial Times -
• Trump to call Putin in ‘next few days’ as Ukraine peace efforts stall — Financial Times -
• European parliamentarians attack EU-US trade deal and demand changes — Financial Times -

• Putin tells Xi organ transplants could offer immortality — Financial Times -
• China’s new world order — Financial Times -
• From outcast to ally: Kim Jong Un takes his place beside Xi and Putin — Financial Times -
• EU offers safeguards to ease farmers’ fears over Mercosur trade deal — Financial Times -
• Israeli annexation of the West Bank would be ‘red line’ for UAE — Financial Times -
• How Russia is jamming GPS around Europe — Financial Times -
• Lasers, hypersonic missiles and the ‘nuclear triad’: China flexes its military muscle — Financial Times -
• Xi presides over show of China’s military might attended by Putin and Kim — Financial Times -
• Xi hails ‘unstoppable’ China at landmark military parade with Putin and Kim — Financial Times -

Debates over Federal Reserve independence are intensifying with Trump's Fed nominee vowing to preserve it amid presidential challenges to the Fed's authority, alongside state-level legal battles over censorship laws and climate policy.

• Stephen Miran, Trump’s Pick for Fed, Says He Will Preserve Its Independence — The New York Times Business -
• Trump’s Fed nominee to pledge ‘independence’ as he seeks Senate confirmation — Financial Times -
• Trump Asserts Expansive Power to Fire Fed Governor Lisa Cook — The New York Times Business -

• Opinion | Newsom Escapes His Own Censorship Law — Wall Street Journal -
• BoE’s Bailey warns of ‘serious situation’ at Fed following Trump attacks — Financial Times -
• Trump’s Anti-Climate Crusade Puts Big Oil in Awkward Spot — Wall Street Journal -

Rachel Reeves is preparing a late Budget while facing trade union calls for wealth taxes and investor demands for spending cuts to address public finances, against a backdrop of improved services growth and internal political struggles like Angela Rayner's tax admission.

• Trade unions urge Reeves to fend off Reform UK with wealth taxes — Financial Times -
• Rachel Reeves opts for late Budget — Financial Times -
• Angela Rayner fights for political survival after property tax admission — Financial Times -

• UK deputy prime minister Angela Rayner admits underpaying tax — Financial Times -
• The historical necessity of Starmer’s failure — Financial Times -
• Nigel Farage addresses US Congress on free speech — Financial Times -
• Reform UK accused of ‘hypocrisy’ ahead of address to US Congress — Financial Times -
• UK services growth for August hits fastest pace in over a year — Financial Times -
• Cut spending to fix UK public finances, investors urge Reeves — Financial Times -
• Greens could hobble Labour — Financial Times -
• UK rail freight boss calls on Reeves to scrap fuel duty freeze — Financial Times -
• New MPs are shocked by the sclerotic state — Financial Times -

Major companies are seeing mixed fortunes, with ConocoPhillips laying off staff due to sliding oil prices, while American Eagle reports soaring sales from celebrity campaigns, amidst executive overhauls at Unilever and scandals impacting Nestlé and Suntory.

• American Eagle shares soar after Sydney Sweeney campaign boosts sales — Financial Times -
• ConocoPhillips to cut up to quarter of its staff as oil prices slide — Financial Times -
• Basic Materials Roundup: Market Talk — Wall Street Journal -

• Auto & Transport Roundup: Market Talk — Wall Street Journal -
• American Eagle Expects Boost From Campaigns With Sydney Sweeney, Travis Kelce — Wall Street Journal -
• U.S. Oil Giant ConocoPhillips Will Lay Off Up to 25% of Its Work Force — The New York Times Business -
• Unilever CEO plans management overhaul to tackle ‘pockets of mediocrity’ — Financial Times -
• Novartis strikes deal worth up to $5.2bn for Chinese cardio drug rights — Financial Times -
• Jane Street challenges Indian regulator’s market manipulation claims — Financial Times -
• Boehly-backed insurance exchange sheds value after revealing links to key client — Financial Times -
• How Jet Lag Cost the Global Face of Japan Inc. His Job — Wall Street Journal -
• Aon to sell wealth unit back to Madison Dearborn after a year — Financial Times -
• Nestlé CEO’s Unraveling Started With a Tip to Employee Hotline — Wall Street Journal -
• Elliott’s pounce on PepsiCo passes the activist taste test — Financial Times -
• ‘I am innocent,’ says Suntory boss after resigning over illegal substance probe — Financial Times -
• Unwinding a decade of bad M&A — Financial Times -
• Behind This Season’s Bumper Earnings: Job Cuts, Price Hikes, Glum Workers — Wall Street Journal -

Global bond markets are experiencing a rally after weak US economic data but also a deepening sell-off that is affecting equities, while discussions on the Fed's rate policy and new bank reporting rules highlight ongoing market volatility and regulatory shifts.

• Global bonds rally after poor US economic data — Financial Times -
• Axes of Evil: UBS’s bubble trouble — Financial Times -
• Why has the EU only implemented a fraction of Draghi’s economic plan? — Financial Times -

• FirstFT: Bond market sell-off deepens — Financial Times -
• French finance minister urges compromise on 2026 budget — Financial Times -
• Fidelity launches Europe’s first active ETF that conceals trading positions — Financial Times -
• The hard data signals the Fed should not cut rates — Financial Times -
• US banks could hide troubled loans under new reporting rules — Financial Times -
• Bond woes spill over into equities — Financial Times -

The international community is seeing renewed calls for a global carbon pricing scheme ahead of COP30, while Norway maintains an assertive stance on oil and gas production to support Europe's energy independence.

• Talk of a global carbon pricing scheme grows louder ahead of COP30 — Financial Times -
• Norway says pump it up on oil and gas for now — Financial Times -

Controversies around FDA decisions on Covid shots and workplace sexual harassment claims reflect ongoing societal discussions, alongside cultural reflections on sports icons, literature, and leisure activities.

• F.D.A. Official Overruled Scientists on Wide Access to Covid Shots — The New York Times Business -
• George Raveling, Basketball Coach Who Brought Michael Jordan to Nike, Dies at 88 — The New York Times Business -
• Advisory firm executive wins sexual harassment claim about 83-year-old superior — Financial Times -

• Fascism and the fracturing of France — Financial Times -
• Get in line for the best Vietnamese in New York — Financial Times -
• Sword of the Sea and the secrets of mastering movement in video games — Financial Times -
• A field guide to flirting in Miami — Financial Times -

Concerns about global governance are highlighted by discussions on the UN's next secretary-general, while economic disparities are visible in reports on US billionaires and a Russian elite crypto scandal, alongside India's tax reforms aimed at boosting its economy.

• Crypto scandal sinks Russian elite’s $8.5mn polar party cruise — Financial Times -
• India tackles three-tier popcorn tax as Trump tariffs spur reform — Financial Times -
• The UN’s next secretary-general could prevent great power war — Financial Times -

• What We Know About America’s Billionaires: 1,135 and Counting — Wall Street Journal -