Good morning. Hamas has said its political leader Ismail Haniyeh was killed in an Israeli strike in Iran earlier today, raising the risk of a further escalation of regional hostilities.
The Palestinian militant group said in a statement that Haniyeh, who lived in exile, died after a “treacherous Zionist” attack on his residence in Tehran. Iranian state media confirmed his death.
The killing of Haniyeh came hours after Israel said it had killed a senior Hizbollah commander in an air strike on Beirut, the Lebanese capital, heightening fears that the region was sliding towards a full-blown war. Read the full report here.
-
Israel protests: Far-right protesters stormed two army bases in Israel after the military police detained nine soldiers as part of an investigation into the alleged “serious abuse” of a Palestinian prisoner.
Here’s what else I’m keeping tabs on today:
-
Economic data: The Eurozone, France and Italy have flash inflation data for July, while Germany publishes labour market statistics.
-
US interest rates: The Federal Reserve is expected to hold rates steady at a 23-year high of 5.25-5.5 per cent when its meeting ends today.
-
Results: Adidas, Arm Holdings, Danone, GSK, Lufthansa, Metro Bank, Rathbones, Taylor Wimpey and Telefónica report.
Five more top stories
1. Exclusive: The EU is seeking to claw back up to €100mn from the Cypriot government after a Chinese-led consortium abandoned a gas import terminal project that is now being investigated for corruption. Brussels is seeking explanations from Cyprus on the EU funding for a gas terminal that China Petroleum Pipeline failed to build.
2. Chancellor Rachel Reeves warned the UK to expect tax rises in her autumn Budget as a row erupted over how much she knew about the £22bn fiscal hole she claimed she inherited from the last Conservative government. Reeves accused her predecessor Jeremy Hunt of lying about the state of the public finances, while Hunt told the Financial Times the attack was “desperate”. Here’s more on the deepening spat.
3. Exclusive: Dozens of former Opus Dei members have accused the Catholic group of recruiting children in recent years, challenging the organisation’s claims that it does not target minors. The individuals told the FT they were recruited as minors or witnessed targeted attempts over the past decade to draw under-18s into the group. Antonia Cundy has the full report.
4. London has fallen behind New York, Toronto and Sydney as a global venue for mining company listings, and investors warn it is in danger of being “sidelined” by a sector it once dominated if a few major groups head overseas. Data shows the market capitalisation of London-listed mining stocks has shrunk to $272bn this year. Here’s what’s driving the shift.
5. BlackRock president Rob Kapito has amassed a retirement pot on track to be worth tens of millions of dollars through an unusual private equity-style bonus plan tied to the $10.6tn money manager’s private funds business. The second-in-command to chief executive Larry Fink is the only executive named in annual filings who benefits from the plan.
The Big Read
During the lockdown, Ocado, which runs the eponymous online grocer in the UK but also supplies ecommerce technology to supermarkets globally, seemed to have the world at its feet as internet shopping took off. But as consumers drift back to stores, it now faces renewed questions about when its tech business will start generating serious profits.
We’re also reading . . .
-
A dangerous game: French parliamentary manoeuvres aimed at denying influence to extremist parties risk causing a backlash in the future, writes former minister Laurence Boone.
-
Turkish business: While the country’s shift to more rational economic strategy has won support, some companies are running out of patience, writes Adam Samson.
-
Trading down: Big-name brands, rather than being immune, are squarely in the line of fire as shoppers start to cut back, writes Brooke Masters.
Chart of the day
Ever since Joe Biden withdrew from the presidential race and endorsed Kamala Harris as the Democratic candidate, she has almost wiped out her party’s national polling deficit against her rival, according to an FT average of polls. While Biden trailed Donald Trump by 3 percentage points on the day he dropped out of the race, Harris and the former president are now neck and neck nationally.
Take a break from the news
For centuries, travellers have been captivated by the Dolomites and their uniquely jagged peaks. The south of Tyrol has long been a place of physical exertion, spiritual restoration and an escape from the stifling Italian summer heat. Jo Ellison reveals the other reasons why the region has gripped her heart.
Additional contributions from Benjamin Wilhelm and Harvey Nriapia
