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Fed’s July minutes revealed growing concerns over elevated inflation

‘Many’ members of the FOMC thought a rate increase would soon be warranted if inflation remains high

Also in this newsletter: US national debt tops $40tn and China’s Unitree makes trading debut

Wall Street firm benefited from swings in AI stocks and volatility triggered by Iran war

Eleanora Folan had praised Tehran’s ‘courageous fight against the imperialist dogs’

Public spending surges despite Donald Trump’s vow to stabilise America’s public finances

Drugmaker’s melanoma shot developed with Merck delivers positive outcome in late-stage trial

Raid on Ukrainian official’s home came after ousted defence minister launches a blistering attack on wartime president

Payment processor’s largest-ever acquisition is part of broader effort to expand into AI economy

He has big stakes. We have big questions.

Minutes from July central bank meeting show ‘many’ policymakers are prepared to increase borrowing costs

Move reflects Washington’s concerns about sharp rise in borrowing costs, investors say

Private credit groups take over MBS Group as entertainment industry slowdown knocks soundstage servicer

Critics dismiss IDF call for two criminal investigations into notorious Gaza killings as a ‘charade’

Competition and Markets Authority reviews charges added later in buying process

Regulators and investors should pay attention to the strain in the direct loan market

Oxford, Cambridge and Manchester are seen as innovation powerhouses but there’s a city we don’t mention

Analysts fear global food price shock if attacks on terminals and ships continue

Eye-watering levels of defence funding and better production targets do not solve the problem

Machines are currently far too pricey for industrial viability, let alone consumers

CVs and cover letters all look the same. Overwhelmed recruiters are returning to personal recommendations

Israeli attack on air base near Turkish border intensifies power contest between two of the region’s strongest militaries

Tech giant agrees expanded partnership with US chipmaker that includes option to buy shares

Investment in insurance defence specialist WSHB expands non-lawyer ownership beyond personal injury firms

The FT’s critics pick the biggest and best plays now on in the West End and elsewhere