Donald Trump's ongoing influence on economic policy, including tariffs challenged in the Supreme Court and Federal Reserve nominations facing scrutiny, is impacting sectors like farming and auto manufacturing, with bond investors even banking on tariff revenues to manage US debt.

• Opinion | The Wrong Way to Help Farmers — Wall Street Journal -
• Trump Asks Supreme Court to Allow His Sweeping Tariffs — The New York Times Business -
• Trump’s nominee to join Fed says president ‘entitled’ to take policy views — Financial Times -

• US justice department launches criminal probe into Fed’s Lisa Cook — Financial Times -
• Trump Federal Reserve Pick’s Plan to Return to White House Draws Backlash — The New York Times Business -
• Stephen Miran hearing as it happened: Donald Trump’s nominee to join Federal Reserve board vows to uphold central bank independence; Miran says US president ‘entitled’ to a view on monetary policy — Financial Times -
• U.S. Imports Rose in July Following Months of Trade Turmoil — The New York Times Business -
• Wall Street’s Bet Against the Trump Tariffs — The New York Times Business -
• Trump-ally Stephen Miran makes his case to be confirmed as Fed governor — Financial Times -
• A wrong Fed could do the dollar in — Financial Times -
• John Deere, a U.S. Icon, Is Undermined by Tariffs and Struggling Farmers — The New York Times Business -
• Gold could hit nearly $5,000 if Trump undermines Fed, says Goldman Sachs — Financial Times -
• Brazilian banks caught in Trump’s crossfire with judge — Financial Times -
• FirstFT: US bond market banks on Trump tariffs — Financial Times -
• In Tariff Standoff With Trump, China Boycotts American Soybeans — The New York Times Business -
• CVC targets 401k retirement market after Trump opens pensions to private equity — Financial Times -
• Bond investors count on Trump tariff revenues to rein in US debt — Financial Times -
• Trump unshackles the US banking industry — Financial Times -

The financial sector is abuzz with major investment deals like Goldman Sachs' stake in T Rowe Price, alongside private equity firms raising substantial capital and fintech companies like Brex plotting expansion, while Nasdaq plans to tighten rules on small stocks.

• Goldman Sachs to buy $1bn stake in T Rowe Price — Financial Times -
• Goldman Sachs wants everyone to be long-term greedy — Financial Times -
• Peter Thiel-backed fintech Brex plots European expansion in push for IPO — Financial Times -

• Citi to tap BlackRock for top clients’ wealth management — Financial Times -
• Rithm Capital agrees to buy $17bn private credit firm Crestline — Financial Times -
• Carlyle raises $20bn to scoop up ageing private equity stakes — Financial Times -
• CVC Capital Partners Confident in Outlook After Results Match Views — Wall Street Journal -
• JPMorgan to enter German retail bank market in European expansion — Financial Times -
• Long bonds’ synchronised decline — Financial Times -
• Nasdaq to tighten rules on small stocks after suspected ‘pump and dump’ scams — Financial Times -

Secret US-Taiwan talks in Alaska and Xi Jinping's meeting with Kim Jong Un highlight geopolitical tensions, while US security funding cuts for European allies and a potential Russia-China gas pact reshape global dynamics, and Europe considers solutions for Russian assets.

• FirstFT: US and Taiwan held secret talks in Alaska — Financial Times -
• US and Taiwanese defence officials held secret talks in Alaska — Financial Times -
• US to cut some security funds for European countries bordering Russia — Financial Times -

• Macron says Trump to outline Ukraine security guarantees in days — Financial Times -
• Xi and Kim hold talks as west fears emergence of ‘autocratic alliance’ — Financial Times -
• A new Russia-China gas pact could reshape global energy markets — Financial Times -
• Europe split over troop pledges as talks on postwar Ukraine force begin — Financial Times -
• Russia promotes ‘national messenger’ to vanquish WhatsApp — Financial Times -
• A ‘bad bank’ can solve Europe’s Russian assets conundrum — Financial Times -
• Are Ukraine’s ‘coalition’ allies willing to turn words into action? — Financial Times -

Melania Trump's AI initiative draws big tech backing, while Anthropic restricts AI services to Chinese-owned groups, Amazon launches satellite internet, and discussions arise on AI's economic impact and Google's legal victories in the AI space.

• Big Tech bosses line up to back Melania Trump’s AI initiative — Financial Times -
• Anthropic to stop selling AI services to majority Chinese-owned groups — Financial Times -
• Alan Turing Institute head to quit after internal turmoil — Financial Times -

• Brussels should encourage Apple to buy American, not European — Financial Times -
• Amazon’s Satellite Internet Venture Signs Up Its First Airline — Wall Street Journal -
• If AI lifts off, will living standards follow? — Financial Times -
• AI helps Google dodge a bullet — Financial Times -
• At Singapore’s anti-fraud convention, even the experts get scammed — Financial Times -

Apollo settling industrial espionage claims, PBS cutting staff, Boeing hiring strike replacements, and Rivian laying off workers amid EV market shifts are among the day's major corporate stories, as Paramount mandates a full return to office and McDonald's escalates the tipping debate.

• Apollo settles industrial espionage claims with former executives — Financial Times -
• PBS to Cut 15% of Its Staff — The New York Times Business -
• Boeing Plans to Hire Replacements for Striking Workers — The New York Times Business -

• Auto & Transport Roundup: Market Talk — Wall Street Journal -
• Tech, Media & Telecom Roundup: Market Talk — Wall Street Journal -
• Daniel Levy steps down as executive chair of Tottenham Hotspur — Financial Times -
• EV Maker Rivian Lays Off Workers as It Preps Launch of Cheaper SUV — Wall Street Journal -
• Porsche Is No Longer a Blue-Chip Company in Germany — The New York Times Business -
• Paramount Calls Employees Back to Office Five Days a Week — Wall Street Journal -
• McDonald’s Escalates Restaurant Industry’s Fight Over Tipping — Wall Street Journal -
• Gap’s CEO Makes Push Into Cosmetics at Gap and Old Navy Stores — Wall Street Journal -
• The Kelce Brothers’ Garage Beer Company Is Now Worth $200 Million — Wall Street Journal -
• Shares in supplier to BMW and VW tumble 22% on accounting probe — Financial Times -
• Currys Shares Surge After Revenue Growth, Buyback Program Launch — Wall Street Journal -
• Brad Pitt’s Plan B to launch UK business as Europe lures studios — Financial Times -
• American Eagle Credits Sydney Sweeney Ads for ‘Brand and Business Reset’ — Wall Street Journal -

Nadine Dorries defecting to Reform UK and Labour's Angela Rayner facing scrutiny over property tax shape the political landscape, with job cuts at the fastest pace since 2021 and the future of British railways under state ownership raising economic concerns.

• Former Conservative minister Nadine Dorries defects to Reform UK — Financial Times -
• Rayner property adviser says firm is being ‘scapegoated’ over unpaid tax — Financial Times -
• Opinion | Britain’s Speech Police Nab Comedian Graham Linehan — Wall Street Journal -

• British railways face an uncertain future under state ownership — Financial Times -
• Rayner tax error shines light on UK property trust rules — Financial Times -
• Reform UK receives smattering of big donations — Financial Times -
• UK businesses cut jobs at fastest pace since 2021, BoE survey shows — Financial Times -
• The curious incident of the Conservatives in the night — Financial Times -
• An imperilled Rayner endangers Starmer — Financial Times -
• MPs urge ministers to release aid report by Starmer’s economic adviser — Financial Times -
• Markets want credibility and stability as the UK Budget nears — Financial Times -
• UK chief executives shun Reform’s Birmingham conference — Financial Times -
• Making British homes affordable again — Financial Times -

Debates on coral reef health and Europe's climate goals hindered by nuclear roadblocks underscore environmental challenges, while Ørsted sues the Trump administration over an offshore wind project and Microsoft expands carbon removal efforts.

• Opinion | Reef Madness: A Baseless Coral Panic — Wall Street Journal -
• Ørsted sues Trump administration for halting $1.5bn offshore wind project — Financial Times -
• Nuclear roadblocks could hinder the EU’s climate goals — Financial Times -

• Microsoft extends dominance of carbon removal market — Financial Times -
• New Lloyd’s of London boss gives insurers green light to cover fossil fuels — Financial Times -
• ExxonMobil explores sale of European chemicals plants — Financial Times -
• Car sector calls for EU to copy China and include hybrids in emissions push — Financial Times -
• China steps in to tame animal spirits as solar sector racks up billions in losses — Financial Times -

The world mourns the passing of Joshua Abram, co-working pioneer, fashion icon Giorgio Armani, Apple's '1984' commercial writer Steve Hayden, basketball coach George Raveling, and White House reporter Mark Knoller.

• Joshua Abram Dies at 62; Gave Workspace-Sharing an Upscale Spin — The New York Times Business -
• Giorgio Armani, Italian Fashion Designer, Dies at 91 — The New York Times Business -
• Steve Hayden, Writer Behind Apple’s ’1984’ Commercial, Dies at 78 — The New York Times Business -

• Giorgio Armani, fashion designer and businessman, 1934-2025 — Financial Times -
• George Raveling, Basketball Coach Who Brought Michael Jordan to Nike, Dies at 88 — The New York Times Business -
• Mark Knoller, White House Reporter and Font of Presidential Facts, Dies at 73 — The New York Times Business -

Rising healthcare costs for workers, sliding Chinese stocks, risks of financial meltdown in Africa, and housing affordability issues in Britain represent broader global economic challenges, alongside discussions on global trade stress tests.

• France’s vicious circle — Financial Times -
• Opinion | Job Openings Still Falling at Small Firms — Wall Street Journal -
• A stress test for global trade — Financial Times -

• Health Care Costs for Workers Begin to Climb — The New York Times Business -
• Ex-wife of Russian tycoon Vladimir Potanin wins right to bring divorce case to London — Financial Times -
• Why France is stuck — Financial Times -
• China’s rare earth miners rise and PCB booms in Thailand — Financial Times -
• Chinese stocks slide the most in five months — Financial Times -
• Argentina’s markets on edge as Milei’s radical agenda faces electoral test — Financial Times -
• A financial meltdown in Africa will affect the world — Financial Times -
• Business school teaching case study: when to speak up for democratic values — Financial Times -
• Black applicants twice as likely to be rejected for a US mortgage — Financial Times -
• The global private education industry is coming for Switzerland’s expensive schools — Financial Times -
• De Beers’ heartland learns that diamonds aren’t forever — Financial Times -