FirstFT: Harris presents Walz as champion of freedoms in first joint rally

Good morning. We have now updates right now on volatility in Asian markets after yesterday’s world rebound and the wars in Ukraine and the Center East.

However first we flip to the US, the place simply hours in the past vice-president Kamala Harris and her newly introduced working mate Tim Walz made their maiden joint look at a Democratic social gathering rally.

Introducing Walz to 1000’s of cheering supporters in Philadelphia, Harris offered the Minnesota governor as a champion of dearly held freedoms that Donald Trump was plotting to remove.

“We are the underdogs in this race, but we have the momentum and I know exactly what we are up against,” Harris mentioned. “Our campaign will reach out to everyone. From red states to blue states. From the heartland to the coasts. We are running a campaign on behalf of all Americans,” she added.

Turning from President Joe Biden’s framing of the election as a battle for democracy, Harris and Walz pitched themselves as defenders of non-public freedoms, together with abortion rights and security from gun violence. Right here’s what Walz mentioned in his first speech as a vice-presidential candidate.

With Harris now polling neck and neck with Trump, enroll for our US Election Countdown publication to get the newest updates on the White Home race. And right here’s what else I’m retaining tabs on right now:

• Financial knowledge: Germany and France report commerce stability figures whereas Halifax has its home value index for the UK.

• Outcomes: ABN Amro Financial institution, Commerzbank, Glencore, Lyft, Maersk, Novo Nordisk, Walt Disney and Warner Bros Discovery are amongst these reporting. See our Week Forward publication for the total record.

5 extra high tales

1. Asian shares edged increased in unstable early buying and selling, in what merchants mentioned was an indication of what to anticipate within the coming days. After main world rebounds from a market rout yesterday, Japanese shares dropped closely at this morning’s open earlier than quickly reversing to a achieve, with Korea and Taiwan following go well with. One dealer mentioned: “It still doesn’t make a lot of sense.”

2. The US has warned Turkey of “consequences” over exports to Russia of US military-linked {hardware}, together with chips and different elements very important to Moscow’s battle in Ukraine. The warning is the newest signal of how Turkey’s retention of commerce ties with Russia has tarnished relations with its Nato ally. Learn the total story.

• Conflict in Ukraine: Moscow mentioned that “up to 300” Ukrainian troops have tried one of many largest incursions into Russia because the begin of its full-scale invasion.

• Army briefing: Russian forces have exploited Kyiv’s navy shortages and blunders to seize practically double the quantity of land Ukraine liberated final yr.

3. Hamas has chosen Yahya Sinwar, the architect of the lethal October 7 assault on Israel, to be its new political chief. Sinwar, who’s Israel’s most wished man, succeeds Ismail Haniyeh, who was assassinated in Tehran final week in an assault that Hamas and Iran have blamed on Israel. Right here’s how Sinwar’s elevation may have an effect on hostage and ceasefire talks.

4. China will impose controls on the manufacturing of chemical substances vital to producing fentanyl in an indication of rising co-operation with the US, which has been pressuring Beijing to take motion for a number of years. Officers estimate the illicit drug claimed practically 75,000 American lives final yr. Extra particulars on what the White Home has referred to as a “valuable step forward”.

• Chinese language financial system: China’s export progress missed expectations final month however imports rose in official knowledge launched right now, reversing earlier falls as commerce remained the strongest financial driver.

5. UK far-right teams may assault the properties of some migrant-friendly attorneys right now, the police have been warned. Authorities are braced for a big improve in violence after a message shared throughout far-right activist teams listed 36 targets that additionally included immigration centres and refugee shelters.

• Fuelling hatred: Years of Tory ministers demonising migrants helped put together the bottom for the far-right riots gripping the nation, critics say.

The Huge Learn

India is set to meet up with China — however strictly by itself phrases. Narendra Modi’s Atmanirbhar Bharat Abhiyaan, or “Self-reliant India”, marketing campaign, has translated to a few of the harshest restrictions on Chinese language inward funding of any main world financial system. However some critics are warning that the prime minister’s powerful line on China may starve India of the capital, parts and knowhow wanted to grasp its ambition of changing into a significant manufacturing energy.

We’re additionally studying . . . 

• Coca-Cola: The soft-drink maker may owe $16bn in again taxes, sufficient to wipe out a yr and a half of earnings, with the determine rising by greater than $1bn a yr.

• Huge Tech: Billions of {dollars} in funds which have flowed between Apple and Google may very well be in danger after a landmark antitrust verdict in opposition to the search large.

• Olympics: A French public pummelled by political chaos have changed their pre-Video games Gallic grumpiness with enthusiasm for Les Bleus, writes Leila Abboud.

• Most cancers: Rising charges of the illness amongst younger individuals have profound public well being implications, writes Anjana Ahuja. What may very well be the offender?

Chart of the day

Is the world’s largest financial system headed for a recession? Most economists imagine jittery buyers have overplayed fears and a “soft landing” remains to be extra probably, however years of bumper progress are over.

Take a break from the information

There are numerous tense issues about holidaying overseas, however working the all-too-familiar gauntlet with automobile rental firms is certainly one of many worst. Claer Barrett explains why issues with costly insurance coverage and spurious injury claims are so prevalent — and how one can keep away from them.

Extra contributions from Harvey Nriapia and Benjamin Wilhelm