The appointment of Andy Burnham as UK Prime Minister and his initial cabinet choices, including John Healey as Chancellor, signal potential shifts in fiscal policy, while financial markets react to expected higher spending and discussions about stamp duty reforms continue.

• Burnham surprises Labour MPs by choosing Healey as new chancellor — Financial Times -
• Six things we learnt from Andy Burnham’s choices for his top team — Financial Times -
• Who is in Andy Burnham’s new cabinet? — Financial Times -

• FirstFT: Indian police crack down on ‘Cockroach’ protesters — Financial Times -
• Andy Burnham makes more appointments for his first cabinet — Financial Times -
• Andy Burnham, New UK Prime Minister, Names John Healey As Top Finance Official — The New York Times Business -
• Gilts under pressure as investors brace for higher spending under new PM — Financial Times -
• Andy Burnham’s tenure begins with troubling signals — Financial Times -
• Burnham becomes UK prime minister promising ‘unity and positivity’ — Financial Times -
• Labour has handed Burnham a blank cheque — Financial Times -
• Andy Burnham’s first speech as PM: what he said and what he meant — Financial Times -
• FirstFT: Andy Burnham weighs Number 10 overhaul — Financial Times -
• Bad cabinet appointments will steal Burnham’s precious hours — Financial Times -
• How the UK can be cleverer about stamp duty — Financial Times -
• What to expect from Burnham’s ‘crucial’ first 100 days as prime minister — Financial Times -
• Burnham must remember the first rule of government — Financial Times -
• Burnham urged to use flexibility in fiscal rules to boost investment — Financial Times -
• Andy Burnham’s first day — Financial Times -

A judge temporarily pausing the Paramount-Warner Bros. deal for antitrust review leads key news, alongside Icahn's sale of Pep Boys, major financing for Meta data centers, and various other significant corporate buyouts including Segro's rejection of a Prologis bid and Samsung Biologics' acquisition of a Swiss peptide maker.

• Judge Temporarily Pauses Paramount-Warner Bros. Deal — The New York Times Business -
• Icahn to Sell Auto-Service Chain Pep Boys to Mavis for $700 Million — Wall Street Journal -
• Judge Temporarily Blocks Paramount-Warner Deal — Wall Street Journal -

• BlackRock Leads $12 Billion Financing for New Meta Data Centers in Texas — Wall Street Journal -
• US judge pauses Paramount’s $110bn Warner Bros acquisition — Financial Times -
• Buyout Firm Truelink Strikes $1 Billion Deal for Coffee Syrup Maker — Wall Street Journal -
• Jersey Mike’s Sets IPO Terms That Could Push Market Cap Toward $8 Billion — Wall Street Journal -
• Brookfield and CPP Investments to Buy LXP Industrial for $5.2 Billion — Wall Street Journal -
• U.K.’s Segro Rejects Sweetened $18.2 Billion Prologis Bid — Wall Street Journal -
• Segro rejects £13.5bn bid by US rival Prologis in latest takeover twist — Financial Times -
• Koch-Owned Molex Agrees to $6.29 Billion Data-Center Cable Deal With Prysmian — Wall Street Journal -
• Telecom Italia’s Board Backs Poste Italiane’s Nearly $15 Billion Bid — Wall Street Journal -
• Samsung Biologics buys Swiss peptide maker for $1.8bn — Financial Times -
• UK pension insurers raise exposure to opaque private credit — Financial Times -

Escalating US-Iran conflict and Houthi rebel threats to shipping in the Middle East drive **US petrol prices above $4 and oil prices above $90, prompting diplomatic meetings amid concerns over a looming quagmire and Iran's currency tumbling**.

• Trump to meet Lebanon’s president as US pushes ahead with peace deal — Financial Times -
• US petrol prices climb back above $4 as Iran war intensifies — Financial Times -
• Oil Markets on Edge as Houthi Rebels Threaten Shipping in the Middle East — The New York Times Business -

• U.S. Average Gas Price Returns to $4 a Gallon as Iran Crisis Escalates — The New York Times Business -
• The Middle East needs its own Helsinki Act — Financial Times -
• Yemen’s Houthi rebels threaten blockade against Saudi Arabia — Financial Times -
• Oil touches $90 after Iran hits tankers — Financial Times -
• Trump is slipping into an Iran quagmire — Financial Times -
• Oil Climbed Above $90 Before Paring Gains as U.S.-Iran Attacks Escalate — Wall Street Journal -
• Iran’s currency tumbles on renewed conflict — Financial Times -
• US launches fresh Iran strikes as death toll climbs — Financial Times -

The DOJ's controversial request for phone records of New York Times reporters' relatives and FDA probes into a cyclospora parasite outbreak highlight government scrutiny, while EU regulators fine AliExpress and investigate construction pricing cartels amid discussions about Fed independence and HMRC's digital shift.

• DOJ Sought Phone Records Tied to Relatives of New York Times Reporters — Wall Street Journal -
• Trump Administration Sought Phone Records of Times Journalists and Their Relatives — The New York Times Business -
• FDA Walks Back Finding of Cyclospora Parasite as Outbreak Probe Continues — Wall Street Journal -

• Qatari-Gifted Air Force One to Receive Upgrades This Fall, White House Says — Wall Street Journal -
• US probes insurers owned by billionaire Mark Walter over asset disclosures — Financial Times -
• Why Mullin is struggling to keep ICE out of the headlines — Financial Times -
• EU Says Construction Companies, Trade Bodies Likely Formed Pricing Cartel — Wall Street Journal -
• The ‘decayed’ impact of Trump’s Truth Social bombs — Financial Times -
• Regulator fired by Trump warns Fed independence still at risk — Financial Times -
• EU fines AliExpress €550mn for failing to prevent sale of illegal goods — Financial Times -
• Warsh’s quiet revolution at the Fed — Financial Times -
• What has the overhaul of HMRC delivered so far? — Financial Times -

Google's AI search imperiling the open web and Big Tech's financial backing for AI startups underscore the rapid advancements and investment in AI, alongside UK businesses' slow adoption of AI for innovation and concerns over a potential AI market bubble impacting memory chip investments.

• How Google’s A.I. Search Is Imperiling the Open Web — The New York Times Business -
• Big Tech’s AI backstops risk ignominy — Financial Times -
• UK businesses are not deepening their use of AI, suggests ONS data — Financial Times -

• American A.I. Giants Like Alphabet Face Fresh Tests — The New York Times Business -
• The Massive Supply Deals Feeding the AI Frenzy Are No Sure Thing — Wall Street Journal -
• Portfolio construction in the shadow of the AI bubble — Financial Times -
• Morgan Stanley cashes in on AI boom with debt deals — Financial Times -
• The AI revolution takes on the world’s most cyclical industry — Financial Times -

The **Trump administration's decision to impose 50% tariffs on Canadian goods reignites trade tensions under new rationales for duties, while Chinese-owned EV maker Polestar exits the US market** following a ban.

• Trump to Impose 50% Tariff on Many Canadian Goods — The New York Times Business -
• US to hit Canada with 50% tariffs on wide range of goods — Financial Times -
• Chinese-Owned EV Maker Polestar Won’t Appeal U.S. Ban, Leaving Dealers in the Lurch — Wall Street Journal -

• Trump orders the ceremonial changing of the tariff guard — Financial Times -

Steel Dynamics reports rising profits due to improved pricing, Cracker Barrel raises guidance after strategic divestitures, and Crown Holdings sees higher sales from increased beverage can volumes, though Ryanair's profit drops on lower fares and fuel costs, with Domino's Pizza also reporting higher profits.

• Steel Dynamics Second-Quarter Profit, Revenue Rise on Improved Steel Pricing — Wall Street Journal -
• Cracker Barrel Raises Guidance After Maple Street Biscuit Divestiture, Sale-Leaseback Deal — Wall Street Journal -
• Crown Holdings Posts Higher Sales As Global Beverage Can Volumes Rise — Wall Street Journal -

• Domino’s Pizza Reports Higher Profit as Same-Store Sales Growth Slows — Wall Street Journal -
• Progressive’s Nice-to-Have Problem: What to Do With Excess Capital — Wall Street Journal -
• Ryanair Shares Fall After Profit Drops on Lower Fares, Fuel-Cost Headwinds — Wall Street Journal -

A rising Ebola death toll and crackdowns on 'Cockroach' protesters in India point to global health and social unrest, while a Sinaloa cartel founder receives a life sentence, China faces soaring egg prices, and cyber attacks expose supply chain vulnerabilities amidst cultural trends in tourism and economic boosts for World Cup host cities.

• Man charged with Ann Widdecombe murder — Financial Times -
• Sinaloa cartel founder handed $15bn forfeiture order and life sentence — Financial Times -
• Ebola death toll rises to 930, as outbreak spreads at record pace — Financial Times -

• Don’t blame colonialism for Africa’s trade woes — Financial Times -
• Soaring Egg Prices Are Hitting China Hard — The New York Times Business -
• Why Locals Are Gatekeeping Their Favorite Places From Tourists — The New York Times Business -
• FIFA Races to Cash In on Its Hit Tournament — Wall Street Journal -
• How I got into Berghain, Berlin’s notoriously selective club — Financial Times -
• Zelenskyy’s crisis deepens as ex-defence minister rejects offer to return — Financial Times -
• Indian police battle ‘Cockroach’ protesters with batons and tear gas — Financial Times -
• ‘I Never Want It to End’: The Surprise Economic Boost for World Cup Host Cities — Wall Street Journal -
• China’s ‘national team’ buys shares worth $9bn to prop up market — Financial Times -
• Paris and Berlin set year-end deadline for options to reform EU’s diplomatic arm — Financial Times -
• The man running against Benjamin Netanyahu — Financial Times -
• Ode to the convertible — Financial Times -
• Cyber attacks expose supply chains as ‘weakest link’ — Financial Times -

Lockheed Martin's plans for bargain-rate Patriot missiles to replenish stockpiles and Anduril's launch of a new helicopter strike drone highlight advancements in defense technology and the Pentagon's shift toward startup procurement, as Lockheed seeks European production for its systems.

• Lockheed Martin Plans Bargain-Rate Patriot Missile to Replenish Low Stockpiles — Wall Street Journal -
• Lockheed seeks European production for cheaper Patriot missile — Financial Times -
• Anduril launches helicopter strike drone — Financial Times -

• The Pentagon Is Finally Buying (Some) Weapons From Startups — Wall Street Journal -

BP's sale of its Austrian mobility business and calls for utility planning changes with the grid reflect energy sector transitions, while a Chinese helium ban threatens European supplies, UK consumers are paid to cut electricity use, and USA Rare Earth strengthens its mining operations.

• Opinion | Utility Planning Must Change With the Grid — Wall Street Journal -
• USA Rare Earth Names Serra Verde CEO Moraitis to Lead Combined Company — Wall Street Journal -
• BP to Sell Austrian Mobility Business to Volenergy for Undisclosed Sum — Wall Street Journal -

• Chinese helium ban threatens supplies to Europe — Financial Times -
• UK consumers paid to cut electricity use to help manage grid — Financial Times -