TikTok's valuation under a Trump deal, new pharmaceutical tariffs, and the indictment of an ex-FBI chief highlight US President Trump's aggressive trade policies and domestic political actions, which are sparking economic concerns, international tensions over Ukraine, and debates about central bank independence.

• TikTok US to be valued at $14bn after Trump’s deal, White House says — Financial Times -
• Trump announces 100% tariff on pharmaceutical products — Financial Times -
• US charges ex-FBI chief who investigated Trump’s alleged Russia ties — Financial Times -

• Opinion | The Economic Cost of Trump’s Tariff Revival — Wall Street Journal -
• Lisa Cook Asks Supreme Court to Remain at Fed, Calling Fraud Allegations ‘Flimsy’ — The New York Times Business -
• Senators Want Answers From Big Tech on H-1B Workers, Layoffs — Wall Street Journal -
• Trump Wades Into Bailout Politics in Offering a Lifeline to Argentina — The New York Times Business -
• Soybeans Were America’s Biggest Export to China. Now, Sales Are Down to Zero. — The New York Times Business -
• Trump Says He Wants to Give Aid to Struggling Farmers — The New York Times Business -
• Ex-Fed chiefs urge Supreme Court to deny Trump’s bid to remove Cook — Financial Times -
• US strikes deal with Musk’s xAI in sign of rapprochement with Trump — Financial Times -
• Vaccination and the price of forgetting — Financial Times -
• Trump presents new Gaza peace plan to Arab and Muslim leaders — Financial Times -
• European officials fear Trump’s new stance on Ukraine war is ‘start of a blame game’ — Financial Times -
• What a Potential Apple-Intel Deal Says About Trump’s Pull Over Big Tech — The New York Times Business -
• Netanyahu’s plane avoids France in flight to meet Trump in US — Financial Times -
• European officials fear Trump is preparing to blame them for Ukraine failure — Financial Times -
• Princess Awesome vs. the United States of America — The New York Times Business -
• Princess Awesome vs. the United States of America — The New York Times Business -
• Giant Brand Bikes Made in Taiwan Barred by Trump Administration — The New York Times Business -
• Trump’s biggest inflation worry might not come from his tariffs on goods — Financial Times -
• Zuckerberg and Altman move closer to Trump since Musk rift — Financial Times -
• Trump’s port fees will weaken China’s shipbuilding dominance, says shipping boss — Financial Times -
• How to fix America — Financial Times -
• Apple demands EU scrap landmark digital rules — Financial Times -
• A Federal Shutdown May Be Imminent. How Would It Affect the Economy? — The New York Times Business -

Starbucks' significant layoffs and store closures alongside **Amazon's $2.5 billion settlement for misleading Prime users underscore major corporate restructuring, consumer protection issues, and activist investor pressure on companies like Six Flags and Upper Crust owner**.

• Inside China’s mega iPhone factory: long hours, discrimination and delayed pay — Financial Times -
• Six Flags Is Under Activist Pressure to Sell Its Real Estate — Wall Street Journal -
• Amazon Reaches $2.5 Billion Settlement Over Allegations It Misled Prime Users — Wall Street Journal -

• Starbucks to close cafés and cut 900 more office jobs in North America — Financial Times -
• House Committee Opens Inquiry Into Uber Over Sexual Abuse — The New York Times Business -
• What’s Behind Nexstar and Sinclair Boycotting Jimmy Kimmel? — The New York Times Business -
• Starbucks to Cut Hundreds More Corporate Jobs, Close Stores — Wall Street Journal -
• Citigroup shapes up for a race its rivals are already winning — Financial Times -
• Amazon agrees largest ever civil penalty in $2.5bn settlement with US regulators — Financial Times -
• Ticketmaster U.K. Agrees to Changes After Outrage Over Oasis Sales — The New York Times Business -
• Brunello Cucinelli shares sink as short seller makes new Russia allegations — Financial Times -
• Starbucks to Cut Jobs, Close Stores and Take $1 Billion Hit in Revamp Effort — The New York Times Business -
• Entities linked to First Brands file for bankruptcy protection — Financial Times -
• Jimmy Kimmel’s Return Draws 6.2 Million Viewers, Ratings Show — The New York Times Business -
• Ticketmaster must make pricing clearer after probe over Oasis sale — Financial Times -
• Disney Raises Prices for Streaming Plans in the U.S. — The New York Times Business -
• Activist investor moves to rustle up takeover interest in Upper Crust owner — Financial Times -
• How Intel’s $28 Billion Pledge Left an Ohio Town in Limbo — Wall Street Journal -

The UN's global dialogue on AI governance, a wave of investment in AI coding startups, and OpenAI's massive advancements demonstrate rapid innovation and international efforts to address the benefits and dangers of artificial intelligence, while Microsoft faces scrutiny over services to Israel's defense ministry.

• Countries Consider A.I.’s Dangers and Benefits at U.N. — The New York Times Business -
• Microsoft Disables Some Cloud Services Used by Israel’s Defense Ministry — Wall Street Journal -
• Microsoft cuts off some services to the Israeli military — Financial Times -

• Google Asks Supreme Court to Intervene in Dispute With Fortnite Creator — The New York Times Business -
• AI coding start-ups reap $7.5bn wave of investment — Financial Times -
• OpenAI is upping the ante massively — Financial Times -
• Opinion | Baristas Should Sound Like Humans, Not Bots — Wall Street Journal -
• There Are More Robots Working in China Than the Rest of the World Combined — The New York Times Business -
• EU opens competition probe into software group SAP — Financial Times -
• HSBC claims quantum trading breakthrough — Financial Times -

Prime Minister Starmer's proposed digital ID cards for adults and his critique of Farage, coupled with a review of the two-child benefit cap and warnings about Andy Burnham's borrowing plans spooking the gilt market, indicate a dynamic period of policy debate and economic uncertainty.

• Starmer to attack Farage as he unveils digital ID cards plan for all UK adults — Financial Times -
• UK ministers examine plans to overhaul or scrap two-child benefit cap — Financial Times -
• Starmer set to announce digital ID cards for all UK adults — Financial Times -

• The blockages to attracting highly skilled workers to the UK — Financial Times -
• Pension funds should have 20 per cent of equities invested in UK, says think-tank — Financial Times -
• Reform UK presses Bank of England governor over balance sheet losses — Financial Times -
• Burnham’s borrowing plans would spook gilt market, investors warn — Financial Times -
• Reform UK must ‘get rid of virtually’ all regulators, says Nigel Farage ally — Financial Times -
• Andy Burnham launches thinly veiled bid to replace Keir Starmer — Financial Times -
• Starmer can’t afford to wait for reckless Reform to implode — Financial Times -
• What’s happening in UK politics? — you asked, we answered — Financial Times -
• Starmer’s fragile position is not yet endangered by rivals — Financial Times -
• Keir Starmer has no plans to attend COP30 climate summit in Brazil — Financial Times -
• UK visa costs already near Trump-like levels, advisers say — Financial Times -

Germany's backing of using frozen Russian assets for Ukraine and Taiwan's chip export adjustments reflect ongoing international tensions and financial strategies, while Saudi Arabia freezes Riyadh rents and the US GDP growth rate is revised up amidst a global slowdown signal diverse regional economic conditions.

• Drones seen at 4 more Danish airports in ‘systematic’ attack — Financial Times -
• Auto Industry Is Flashing a Warning Sign on U.S. Economy — Wall Street Journal -
• US second-quarter GDP growth rate revised up to 3.8% — Financial Times -

• Germany’s new deregulation chief vows to be more subtle than Elon Musk — Financial Times -
• Japan needs a vision, not just a leader — Financial Times -
• Jaguar Land Rover restarts some IT systems after cyber attack — Financial Times -
• Saudi Arabia freezes Riyadh rents for 5 years as property costs soar — Financial Times -
• Sarkozy sentenced to 5 years in prison in Libya corruption trial — Financial Times -
• Taiwan backtracks on chip export curbs to South Africa after China spat — Financial Times -
• Germany’s Merz backs using frozen Russian assets for Ukraine — Financial Times -
• A new financial impetus for peace in Ukraine — Financial Times -
• KKR deploys record $20bn in Europe this year — Financial Times -
• Saudi shares jump on hope of foreigner ownership change — Financial Times -
• FirstFT: China sets climate emissions reduction target — Financial Times -
• Can a US bailout save Argentina’s Javier Milei? — Financial Times -
• Can Israel go it alone? — Financial Times -
• What we get wrong about China — Financial Times -
• Food costs jump by a third for Eurozone households since 2019, says ECB — Financial Times -
• Stablecoin issuer Circle examines ‘reversible’ transactions in departure for crypto — Financial Times -
• Stephen Miran on interest rates — Financial Times -
• How Ukraine could close its $23bn funding gap — Financial Times -
• The twin crises roiling credit markets — Financial Times -
• What superstition tells us about humanity — Financial Times -
• Looming end of US-Africa trade deal set to hit continent’s exporters — Financial Times -
• Nigeria seeks to counter financial fraud scourge — Financial Times -
• What’s behind Singapore’s world-high property transaction costs? — Financial Times -
• Military advertises its bigger role as Prabowo reshapes Indonesia — Financial Times -
• The billionaire politician making a Trump-like comeback in Europe — Financial Times -

Lawmakers urge the FAA to act on fumes in commercial aircraft following reports of toxic-fume surges, Social Security workers struggle with demand after cuts, and **Elon Musk’s father faces child sexual abuse allegations**, drawing attention to critical public welfare and justice concerns.

• Lawmakers Urge FAA to Act on Fumes Leaking Into Commercial Aircraft — Wall Street Journal -
• Is nitrous oxide food? — Financial Times -
• Social Security Workers Struggle to Meet Demand After DOGE Cuts — The New York Times Business -

• Elon Musk’s Father, Errol Musk, Accused of Child Sexual Abuse — The New York Times Business -
• After Centuries of Stigma, South Korea Moves to Legalize Tattoo Artists — The New York Times Business -
• Runway Safety Bed Stops Skidding Plane in Virginia — The New York Times Business -
• Delta Replaces Engine Units in Effort to Address Toxic-Fume Surge on Planes — Wall Street Journal -