FT News Briefing

The US dollar has fallen to its lowest level this year, raising eyebrows as the stock market stabilizes. Meanwhile, rising tensions between the US and China threaten a long-standing science and technology collaboration. Democrats defend Kamala Harris’s economic roadmap, which is facing skepticism from economists concerned about its feasibility amid ongoing inflation. The complexities of voter sentiment and international cooperation in research are highlighted as essential for addressing global challenges.

The Democratic National Convention kicks off in Chicago, highlighting Vice President Kamala Harris's rising popularity amidst key state polls. Meanwhile, Bangladesh's garment industry is in turmoil due to political unrest, forcing global fashion brands to reconsider their manufacturing strategies. Start-up failures have skyrocketed by 60%, reflecting the challenges of the post-boom era. Climate change is driving up homeowner insurance costs, sparking discussions on innovative solutions to manage emerging risks.

Mike Madrid, a Republican political strategist and author of "The Latino Century," dives into the shifting landscape of Latino voting patterns. Once loyal to Democrats, many Latino voters are now leaning towards the GOP, driven by economic concerns and a search for broader identity. The conversation highlights potential new voting blocs that could reshape future elections. Madrid also touches on how recent events, like Olympic controversies, might influence public opinion and underscore the evolving nature of U.S. politics.

A major U.S. oilfield services company is controversially expanding its Russian operations despite geopolitical tensions. Investors are flocking back to bonds amidst recession worries, revealing a fascinating shift in the market. Surging U.S. retail sales signal hopes for an economic 'soft landing.' Meanwhile, Coca-Cola faces a staggering $16 billion tax dispute with the IRS over profit-shifting tactics. The complexities of brand valuation and tax strategies come to the forefront as this legal battle unfolds.

Peace talks to resolve the Gaza conflict are back on the table. US inflation has dropped to its lowest in three years at 2.9%, prompting discussions about Federal Reserve interest rates. In Ukraine, military forces seek to secure newly gained ground against Russia. An arrest warrant has been issued for a Ukrainian suspect linked to the Nord Stream pipeline explosions. And in a surprising twist, scientists reveal that the iconic Stonehenge rocks were transported an astonishing 400 miles from Scotland.

A surprising rally in US stocks follows softer inflation data, while northern Sweden emerges as a potential powerhouse for green energy. However, the world’s largest coal producer, Glencore, reverses its plans to divest from coal amid shifting investor sentiments. The podcast dives into the challenges major companies face in embracing green energy and explores the complex dynamics between energy firms, fossil fuel investments, and innovative technologies like cryptocurrency. It's a thought-provoking look at the intersection of profit and sustainability.

Tensions rise as Russia trains its navy to target European sites with nuclear missiles. Meanwhile, 40% of major manufacturing investments tied to Biden’s industrial policies face delays, affecting rural communities awaiting job opportunities. On a different note, fears of Chinese deflation may ease with a modest rise in consumer prices, hinting at potential economic recovery. Dive into the complexities of these pressing global issues and their interconnected impacts.

Western brands are facing significant boycotts in Muslim countries, impacting their revenues sharply. In a surprising twist, Americans seem to trust Kamala Harris over Donald Trump to handle the economy. Meanwhile, European traders are mostly avoiding Ukraine’s natural gas storage amid ongoing conflicts. Additionally, mid-tier U.S. accounting firms are reassessing their operations and strategies to remain competitive against the giants. The dynamic of global business travel is also evolving, with companies adjusting to new cost and environmental realities.

James Politi, the Washington bureau chief at the Financial Times, shares insights into Kamala Harris's campaign, emphasizing her appeal to energized Democratic voters. He discusses Tim Walz's unexpected rise as her vice-presidential pick and how his relatable persona may connect with moderate, working-class individuals in key states. The conversation also dives into political strategies behind vice-presidential selections and the quirky redesign of state flags, adding a humorous twist to the serious political landscape.

The stock market's recent sell-off may have been an overreaction, while consumers are tightening their belts amidst falling spending. As financial pressures rise, especially for lower-income households, companies are adjusting their strategies. Additionally, Ukraine's surprising counteroffensive in Russia on the battlefield indicates shifting dynamics in the ongoing conflict, which could impact future negotiations. Political commentary also highlights the tension surrounding the Federal Reserve and the presidential race.