FirstFT: Donald Trump floats firing Fed’s Jay Powell
Also in today’s newsletter, US set to ban Chinese tech in submarine cables, and Nvidia chief vows to ‘accelerate recovery’ of China sales
UK and Germany join forces to sell billions in jets and military hardware
Exports of jointly made defence kit have been a source of tension between the two countries for years
Donald Trump says Coca-Cola will use cane sugar in US production of Coke
President says beverage giant will switch back to its old primary sweetener in cola produced domestically
Babies born with DNA from 3 people in pioneering UK IVF trial
Mitochondrial transfer offers fresh hope to parents at risk of passing on incurable genetic disease to their children
UK green energy groups warned they would lose subsidies under a Reform government
Deputy leader Richard Tice says rightwing populist party will reassess ‘all net zero commitments’ due to high costs
US set to ban Chinese technology in submarine cables
New rule aims to end vulnerability in communications infrastructure after attack on American telecoms
Von der Leyen botches €2tn EU budget proposal with chaotic infighting
Centralised and chaotic process has compromised launch of commission president’s spending plan, colleagues say
Israel strikes Syrian military headquarters in Damascus
Attack follows days of deadly sectarian clashes in southern part of country and marks significant escalation of campaign
Netanyahu suffers another blow as second Haredi party quits Israel government
Shas departs over failure to enshrine ultraorthodox military exemption but says it will not work to topple administration
Guinness owner Diageo to replace chief executive Debra Crew
Struggling FTSE 100 drinks group searching for new chief to lead turnaround and rebuild investor confidence
Trump trade representative pushes defence start-ups to fill manufacturing gap
Jamieson Greer cheered by Silicon Valley players hoping for a boost from military spending
Citi’s new banking chief steps up poaching of JPMorgan dealmakers
The US bank hired Viswas Raghavan as head of banking in 2024 to bolster its position in investment banking
Trade tariff game theory, with Dmitry Grozoubinski
A podcast cross-promotion post
‘Confusion’ reigns over cost of UK’s Afghan rescue scheme, says spending watchdog
Head of public accounts committee calls on ministers to disclose detailed bill for resettlement programme
Trump asked lawmakers whether he should fire Fed’s Powell
US president later said such a move would be ‘highly unlikely’, prompting swings in currency markets
Trump attacks own supporters over Epstein conspiracies
US president angrily tries to contain criticism over his administration’s handling of files on late disgraced financier
UK inflation unexpectedly rises to 18-month high of 3.6%
June figure marks setback for central bank as it considers interest rate cuts
UK government auditor questions MoD disclosures of Afghan data leak
Ministry accused of not telling National Audit Office about leak in ‘the established way for sensitive defence matters’
As Germany’s centrists squabble, the far right prepares to pounce
If Merz cannot unite the CDU and SPD, the AfD’s strategy of forcing conservatives to co-operate with them could succeed
A struggling Diageo needs a steadier hand
Debra Crew struggled to convey the appearance of being fully in control
Why the ‘silver economy’ is the future of work
The pandemic created profound shifts in the workforce — and older people are key
What the Afghan ‘super-injunction’ tells us about the UK
Parliament and regulators are shrugging off a decision that freed the government from accountability
Goldman boss takes Wall Street’s ‘most improved’ award
Solomon may lack his predecessor’s smoothness but investors prefer effectiveness
Starmer suspends four rebel Labour MPs
UK prime minister seeks to bolster authority after failing to push through welfare reform