CME launches new product to simplify basis trade bets
Instrument set to cut cost of popular hedge fund strategy that has been blamed for adding to market volatility
US strikes Iranian railway bridges on route to city of Khamenei’s burial
Late supreme leader set to be interred in Mashhad on Thursday
Regulator to block CME bid to fast-track round-the-clock oil contracts
CFTC’s move comes after it was sued by the world’s biggest derivatives exchange over approval of crypto products
Labour MPs queue up to back Burnham as next leader
Former Manchester mayor moves a step closer to being Britain’s next prime minister
Peking duck dispute heightens EU-China trade tensions
European Commission launches probe into alleged dumping of subsidised meat
Minutes from the ECB’s June meeting confirm rise in inflation risks
Central bank’s baseline projections showed above-target inflation despite the inclusion of almost three rate rises
US renews strikes against Iran
Also in today’s newsletter, political rhetoric around the ‘Epstein class’ is gaining traction among Democratic candidates
Italy expels Russian diplomats suspected of running spy ring
Expulsion comes after arrest of two retired Italian intelligence officers who allegedly passed on information to Moscow
Shoot the People — photographer turned activist Misan Harriman steps into the frame
An admiring documentary portrait of the Southbank chair is at its best showing the febrile political moment that made him
Wall Street set for bumper $140mn payday from SK Hynix listing
Secondary US listing of trillion-dollar South Korean chipmaker expected to be one of largest public offerings in history
Argentina repays $4bn as it resists return to global markets
Cash-strapped nation says it can meet huge debt obligations without issuing new sovereign bonds
Futureproofing fantasy fashion in Paris
Couture may be for the 0.1 per cent, but houses like Chanel, Dior and Schiaparelli are still vying to make it feel relevant
PepsiCo warns of ‘rising inflationary pressures’ for US consumers
Recovery in sales volumes runs out of steam in second quarter as squeeze on budgets hits snack and soda group
US carries out second day of strikes against Iran
Trump claims Tehran ‘called’ to negotiate but casts doubt on prospects of deal
Leading UK research facility Diamond Light Source faces cost cuts
Particle accelerator used by both public and private sector scientists is part of 15% research centre savings
French commissioner pushes for ‘Buy European’ in public procurement
Stéphane Séjourné is spearheading an initiative seeking to limit Chinese investment
Will Silicon Valley unleash a new wave of philanthropy?
Oliver Hanney of development economics hub VoxDev weighs in on the potential recipients of donations
Burnham must not succumb to a populist techlash
It would be a crime to lose the UK’s envied tech and life science status within Europe
Labour MPs push for permanent ban on crypto political donations
Proposals come amid controversy over Reform UK funding
The First House by Avni Doshi — darkness in the domestic
When her marriage collapses, a woman seeks meaning in astrology, mythology and obsession in a fever-dream novel by the author of Booker-shortlisted ‘Burnt Sugar’
Are deep reservoirs the next frontier in the US shale revolution?
Also in today’s newsletter: tax credits for US renewables industry expire and how El Niño threatens countries reliant on hydroelectric power
At the world’s largest photography festival in Arles, anxieties about truth ring loud
Images that make you look twice — from doctored historical portraits to Swiss UFOs — are highlights of an event where artists of African heritage shine
Is Europe prepared for a world of extreme heat?
In an air-conditioned Luxembourg meeting, ministers call for a ‘business case’ for coping with the world’s fastest-warming continent
Devolution has no easy answers on ‘fairness’
The consensus backing more local power sharing rarely confronts fundamental trade-offs