In an interview with the FT, the UK health secretary and pro-business Conservative leadership candidate blasts rival Boris Johnson, Spain’s Prime Minister Pedro Sanchez and his French counterpart Emmanuel Macron are joining forces to block a German conservative from taking the European Commission presidency, and the mounting US-China trade war has led investors to raise bets that the Federal Reserve will cut interest rates as the economy slows. Plus, the FT’s corporate finance and deals editor Arash Massoudi explains the significance of the talks between Fiat Chrysler and Renault and the seismic shift it would cause in the automaking industry.

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