US-China trade talks commence ahead of a Trump-Xi summit, while China's missile upgrades using UAE technology raise concerns and sanctioned Russian oil continues to find new routes, as Europe struggles to stockpile critical minerals and US military strikes in the Caribbean face legality doubts, alongside a **botched $1bn Ukraine contract** by a small US gun shop.

• China upgraded missiles using UAE technology, Biden spies said — Financial Times -
• US and China kick off trade talks ahead of high-stakes Trump-Xi summit — Financial Times -
• ‘We’re going to kill them’: doubts grow over legality of US strikes in Caribbean — Financial Times -

• Sanctioned Russian Oil Will Find New Ways to Flow — Wall Street Journal -
• Europe struggles to catch up in race to stockpile critical minerals — Financial Times -
• How a tiny US gun shop won — and botched — a $1bn Ukraine contract — Financial Times -

Donald Trump Jr.'s potential profit from a Pentagon drone proposal sparks scrutiny, as federal indictments expose a gambling edge for NBA player entourages and Scott Bessent, Trump's economy chief, defends his market risk stance, while readers ponder the future of American capitalism in 50 years.

• Being In an N.B.A. Player’s Entourage Is Fun. Now, It Can Be a Gambling Edge, Too. — The New York Times Business -
• Trump’s Son Is Poised to Profit From Pentagon Drone Proposal — The New York Times Business -
• What Will American Capitalism Look Like in 50 Years? Readers Weigh In — Wall Street Journal -

• ‘Where the hell is the market risk?’ Scott Bessent takes on his critics — Financial Times -

Ireland elects a hard-left presidential candidate, while the UK Labour Party sees Powell win deputy leadership and Starmer is urged to govern seriously, amidst the Tony Blair Institute's restructuring due to losses and the Prince Andrew scandal impacting monarchy credibility, with discussions around raising bank equity and Thames Water's hefty KKR due diligence payment, even as investors are reminded not to be too gloomy about UK stocks.

• Hard-left candidate secures landslide in Irish presidential election — Financial Times -
• Powell calls on Labour to show more ‘purpose’ after winning deputy leadership race — Financial Times -
• Where does the Prince Andrew scandal leave the British monarchy’s credibility? — Financial Times -

• Tony Blair Institute undertakes restructuring as losses mount — Financial Times -
• Starmer needs to get serious about governing — and quick — Financial Times -
• Raise bank equity or keep rolling the dice — Financial Times -
• Thames Water paid £20mn to cover KKR’s due diligence for abortive bid — Financial Times -
• We’re being too gloomy about UK stocks — Financial Times -

Neutrogena recalls makeup wipes due to bacterial contamination, as Hollywood's future is shaped by David Ellison's rapid acquisitions, and Travis Kelce invests to save Six Flags, while Cracker Barrel faces a brand management crisis over a logo change and employee influencers become a new marketing tool with employees starring in company videos.

• Neutrogena Recalls Makeup Wipes Over Bacterial Contamination Concerns — The New York Times Business -
• Starring in Videos Is No Longer a Job Just for the Social Media Team — The New York Times Business -
• David Ellison Is Moving Fast and Spending Big to Remake Hollywood — Wall Street Journal -

• Travis Kelce Is Jumping In to Save Six Flags Just When It Needed It Most — Wall Street Journal -
• The Cracker Barrel Mess Isn’t Over Yet — Wall Street Journal -

The 'hands problem' remains a key challenge for humanoid robotics, as online debate shows gain traction with Democrats, and a Japanese 'Baedeker of beastliness' highlights workplace microaggressions.

• The ‘Hands Problem’ Holding Back the Humanoid Revolution — Wall Street Journal -
• Debate Shows Are Having a Moment. Here Come the Democrats. — The New York Times Business -
• Japan’s Baedeker of beastliness — Financial Times -