HSBC's new chief executive, Georges Elhedery, faces challenges in transitioning. Donald Trump accepts Republican nomination. European Central Bank maintains interest rates. The FT's Clive Cookson discusses the revival of the space race.

Georges Elhedery, the new Chief Executive Officer of HSBC with a background in finance, discusses potential management cuts to streamline operations at the bank. He shares insights on how this move aligns with industry trends. The conversation also dives into the rising protests in China, driven by economic dissatisfaction, as citizens express their frustrations amid a slowing economy. Elhedery highlights the implications for HSBC's strategy in Asia and notes Burberry's anticipated exit from the FTSE 100.