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Good morning. Right now we’re protecting:
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An alleged Russian assassination plot
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A key financial coverage assembly in China
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Ambani’s massive wealthy Indian wedding ceremony
However first: extra Democratic lawmakers yesterday referred to as on Joe Biden to finish his re-election marketing campaign and let one other candidate tackle Donald Trump, simply hours earlier than the president was set to carry a extremely anticipated press convention on the finish of this week’s Nato summit.
The statements by at the very least 4 extra Democrats within the Home of Representatives gave the impression to be timed to the top of the Nato gathering; social gathering leaders had urged Democrats to chorus from undermining Biden whereas so many international leaders have been in Washington.
The press convention is widely seen as a make-or-break moment for him. It comes as a disaster over Biden’s candidacy engulfs the Democratic social gathering, and the White Home and the president’s re-election marketing campaign wrestle to stem requires him to step apart.
Follow the news conference live at FT.com.
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Go deeper: Joe Biden’s closest western allies will depart Washington unsure of the US’s commitment to Nato past January, after an alliance summit overshadowed by questions on whether or not the American president can proceed his struggle for re-election towards Donald Trump.
And right here’s what I’m protecting tabs on right this moment and over the weekend:
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Financial knowledge: China reviews June commerce steadiness figures and Singapore releases advance estimates for second-quarter GDP. India publishes shopper worth knowledge whereas the US reviews produce worth knowledge.
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Japan-Germany relations: Japanese Prime Minister Fumio Kishida visits Germany for talks with Chancellor Olaf Scholz.
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Sport: The Wimbledon tennis single’s finals are this weekend, with the ladies taking part in on Saturday and the boys on Sunday. The finals matches for the Euro 2024 and Copa América males’s soccer tournaments may also be held on Sunday.
How properly did you retain up with the information this week? Take our quiz.
5 extra high tales
1. Russia is believed to be behind a foiled plot to assassinate the top of Europe’s largest arms producer over his firm’s assist for Ukraine, in accordance with Nato diplomats. The diplomats mentioned the alleged conspiracy against Armin Papperger, chief government of Düsseldorf-based Rheinmetall, was being handled as a part of Russia’s wider sabotage and hybrid assault marketing campaign towards European Nato states.
2. China has accused Nato of smearing the nation and demanded the transatlantic alliance keep out of Asia. Beijing lashed out yesterday after Nato accused China of becoming a “decisive enabler” of Russia’s war against Ukraine.
3. Xiaohongshu, China’s fastest-growing social media platform, has gained the backing of enterprise capital agency DST International. The funding is a rare example of foreign VC firms putting money into the Chinese tech sector, which they’ve largely shunned since a Beijing crackdown.
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Extra China information: Chinese language authorities have opened an investigation into cooking oil shipments after a neighborhood media report alleged that gasoline tankers had been used to hold edible oil with out being cleaned, setting off the most recent meals security scandal within the nation.
4. Hong Kong’s CK Infrastructure Holdings, managed by the household of the territory’s richest man Li Ka-shing, is contemplating a secondary listing on London’s stock market. The potential transfer is a “signal of confidence within the UK” within the wake of Labour’s election victory, mentioned an individual near the group.
5. US inflation fell sooner than forecast to three per cent in June, an encouraging signal for the Federal Reserve because it debates how shortly to chop charges from their 23-year excessive. Treasury yields dropped as traders increased their bets on two interest rate cuts this year.
Information in-depth
Analysts have been scrutinising current speeches by Xi Jinping and different Chinese language leaders for alerts of Beijing’s financial coverage course that may very well be unveiled at an vital Communist social gathering assembly subsequent week. Some specialists argue daring motion is required on the social gathering’s third plenum to kick-start home demand and stop the economic system from falling right into a deflationary spiral. However Beijing has played down hopes for “strong medicine”.
We’re additionally studying . . .
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Interview: India’s commerce minister is optimistic about placing a long-awaited commerce cope with the UK’s new Labour authorities, however warned Britain not to place “a gun [to] our head” by imposing a deadline.
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The Massive Learn: Surging settler violence, army raids and financial stress have undermined the credibility of the Palestinian Authority’s management within the West Financial institution.
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AI bubble: The funding increase triggered by the expertise has been all too seen, writes Richard Waters, nevertheless it takes time for the expertise to be put to productive use by clients.
Chart of the day
The world is about to have 200mn fewer folks than beforehand anticipated by 2100, in accordance with a UN report that highlights the dramatic impact of falling birth rates on the worldwide inhabitants.
Take a break from the information
A pantheon of worldwide celebrities, politicians and enterprise leaders are descending on Mumbai for the marriage of the youngest son of Mukesh Ambani, Asia’s richest man. However the anticipated gridlock this weekend has elicited frustration from residents of the megacity. “It will be madness”, an individual concerned in planning the nuptials instructed the FT’s Chris Kay.
Further contributions from Tee Zhuo and Gordon Smith
