Good morning and welcome back to Firstft. This is what we cover today:
Donald Trump is struggling to control a spiral crisis about dealing with the so-called Epstein files through his administration. This is what you need to know.
Why is Maga distributed over Epstein? During last year’s election campaign, Trump promised to release files with regard to the late Pedophiel Jeffrey Epstein who, since his death in 2019, was in the center of countless conspiracy theories, often by the nearest allies of Trump. Last week, the Ministry of Justice and the FBI published a two -page memo after what it described as an “exhausting assessment” of material with regard to the chattering pedophile. The memo concluded that there was no “client list” and that Epstein died due to suicide.
Why it matters: Before he entered the government, FBI director Kash Patel, Deputy Director Dan Bongino and Attorney General Pam Bondi belonged to the Trump supporters who publicly wondered whether Epstein committed or was killed as part of a huge conspiracy to protect strong people who had been assured with him. Bondi has become a target for Trump supporters who are not satisfied with the results of the research. Former Fox News -Gastheer Megyn Kelly labeled Bondi the ‘Schurk in this story’ in a speech to a conservative conference at the weekend.
This is what we keep an eye on today:
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Wall Street Banks: JPMorgan Chase and Citigroup start the profit season of the second quarter for the largest banks of the US. Our live blog will deal with the results announcements that also include BlackRock and Wells Fargo.
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Economic data: The US and Canada publish June Consumer Price Indices.
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Monetary policy: Federal Reserve Vice-Chairman for Michelle Bowman supervision gives the opening comments at a conference organized by the Federal Reserve.
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Arizona Primary: Voters opt for candidates for a special election to fill the House of Representatives, previously held by Democrat Raúl Grijalva, who died in March in office. The Democrats are expected to keep the chair.
Five more top stories
1. Donald Trump has privately encouraged Ukraine to increase deep strikes on Russian territory, According to people who were informed of a call of July 4 between the American and Ukrainian presidents. Trump even asked VolodyMyr Zenskyy if he could hit Moscow if the US provided long -distance weapons. Read this exclusive story.
2. The Chinese economy expanded by 5.2 percent year after year in the second quarter While the world’s second largest economy achieved the impact of Trump’s trade war. The growth rate, which beat the expectations of analysts, shows how China was able to keep growth on the right track through export and investments, even if it is struggling with a weak demand at home.
3. The government of Israeli Prime Minister Benjamin Netanyahu has been deposited into crisis After a Jewish ultra -orthodox political party, the ruling coalition left. Seven MPs of the United Torah Judaism Party resigned in response to government’s efforts to use religious seminar students in the army, so that the coalition of Netanyahu was lagging behind with a majority of one seats in the Knesset. Read more about the political crisis.
4. The proceeds on 10-year-old Japanese government bonds can be reached their highest level since the financial crisis of 2008 and 30-year loan costs reach a record high Earlier today, investors become increasingly nervous prior to Sunday’s parliamentary elections. Polls suggest that the ruling LDP must make concessions for high editions, populist parties after Sunday’s vote.
5. Calpers, the largest public pension fund in the US, has indicated a hunger for more exposure to private equity Despite ensuring that these assets can expose pensioners to too much risk. Stephen Gilmore, Chief Investment Officer of the Pension System of the public employees of California, said that it was “reasonable to expect our private equity exposure to continue to increase somewhat”. Read the full interview.
The Great Lecture
The BYD of China catches up Tesla and is ready to catch up with his American rival in the sale of electric vehicles for the first time. In the past three years, the Chinese autogroep has limited the technological gap between the two car manufacturers, also with autonomous driving. Read the progress of BYD on the EV market.
We read too. . .
Graph of the day
Insurers sell so -called catastrophe bonds against a record percentage because they try to discharge the growing risk of climate change to investors to investors, who are looking for a high return. The issue of the instruments, which transfer part of the risk of events such as forest fires, hurricanes and earthquakes to bondholders, this year has risen to $ 18.1 billion of an earlier record of $ 17.7 billion for the entire 2024. Read more about the growing attraction of “Kattenbondigations”.
Take a break of the news
Would you trust an algorithm to give you a suit? The Swedish brand Blugiallo, with the help of the measurements of customers, created a data set of more than 1,000 unique sizes that can be converted into an algorithm to calculate a perfect fit for each customer-aging from £ 650. Is there a catch?
