China’s Belt and Road investment and construction activity hits record
Rapidly expanding presence in countries signed up to Xi Jinping’s global initiative contrasts with US approach
Couche-Tard drops its $46bn pursuit of 7-Eleven owner
Canadian owner of Circle K chain blames lack of ‘constructive engagement’ by Japan’s Seven & i
Government used super-injunction to hide Afghanistan data breach
‘If it hadn’t been for super-injunctions we’d have had a lot more to talk about’
Letter: Paper is safer when it comes to people’s security
From Owen Kelly, Edinburgh, UK
Letter: Motto for scarce minerals
From Dr John Doherty, Stratford-upon-Avon, UK
Letter: A quote that sums up the madness of bitcoin craze
From Faisal Sheikh, Managing Director, Monmouth Capital, London W1G, UK
Letter: The end of ultra-low interest rates has changed the PE model
From Steffen Pauls, Founder and Co-Chief Executive of Moonfare (and former managing director of private equity at KKR), Berlin, Germany
Correction: UK wind and solar farms
Developers of UK wind and solar farms must pay the difference if the electricity wholesale price exceeds the strike price. An article on July 16 incorrectly stated that they must pay the difference if the strike price is higher
More US students choosing UK universities after Trump attacks on higher education
Latest admissions data shows 14% rise in American applications for undergraduate courses
A weak yen is the root of Japan’s lurch to the right
Populism has caught up with the country and found fertile soil
FT Crossword: Number 18,109
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
United Airlines raises outlook after ‘acceleration’ in travel demand
US carrier’s quarterly revenue topped $15bn for the first time
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 in push for lucrative sales of military jets and hardware
Berlin vows more pragmatic approach after years of tension between two countries over arms exports
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 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