FirstFT: Trump proclaims he’ll skip main debates

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We start immediately with Donald Trump’s announcement that he won’t be taking part within the upcoming Republican presidential debates. The announcement comes simply days earlier than the opposite candidates are set to sq. off on Wednesday evening in Milwaukee, Wisconsin.

“The general public is aware of who I’m and what a profitable presidency I had, with power independence, sturdy borders and navy, greatest ever tax and regulation cuts, no inflation, strongest financial system in historical past and rather more,” Trump confirmed in a social media put up on Sunday. “I WILL THEREFORE NOT BE DOING THE DEBATES”, he added.

Trump holds a commanding lead within the get together’s polls. A CBS survey launched on Sunday, cited by Trump, confirmed that 62 per cent of doubtless Republican main voters now say they might again the beleaguered former president. This gave him his largest result in date, regardless that his marketing campaign has been overshadowed by prison fees introduced towards him at a federal and state degree.

Trump’s closest contender is Florida governor Ron DeSantis, who trails him by a large margin, garnering the assist of solely 16 per cent of these polled. The seven remaining presidential hopefuls have solely single-digit assist.

The New York Occasions on Friday reported that as an alternative of taking part within the first debate, Trump was planning to sit down for an interview with Tucker Carlson, the firebrand conservative tv host previously at Fox Information. Trump has not confirmed that plan, however such a call could be significantly painful for Fox as a result of it’s internet hosting the controversy on Wednesday.

Former vice-president Mike Pence criticised Trump for not showing, telling ABC Information on Sunday, “each one among us that has certified for that debate stage should be on the stage, be prepared to sq. off, reply the powerful questions and likewise draw a bright-line distinction [on various issues]”.

Right here’s what else I’m conserving tabs on immediately:

• China: The nation’s central financial institution has minimize a benchmark lending price however defied market expectations by leaving one other unchanged as policymakers grapple with their response to slowing financial momentum.

• Outcomes: Zoom stories second-quarter outcomes after calling for workers to return to the workplace this month. Demand for the video conferencing platform’s providers has dropped as extra corporations undertake hybrid work. Self Storage Group additionally has earnings.

5 extra high tales

1. Unique: Citigroup’s chief is contemplating a plan to disband the financial institution’s greatest division in what could be essentially the most vital structural shake-up in almost 15 years. The plan would have an effect on the Institutional Shoppers Group, which generated almost three-quarters of the financial institution’s web income final 12 months. Right here’s why Jane Fraser desires to separate it into three items.

2. Saudi border guards have killed a whole lot of Ethiopian migrants trying to cross into the dominion from Yemen over the previous 18 months, a rights group has stated, alleging safety forces “fired explosive weapons” and in some instances requested migrants which of their limbs they would favor to be shot. Listed below are extra particulars from the 73-page report by Human Rights Watch.

3. Australian prime minister Anthony Albanese organized a two-week internship at PwC in 2021. That is the most recent signal of the shut ties between the nation’s authorities and the consultancy trade. The internship occurred two years earlier than it was revealed {that a} senior companion in PwC’s tax follow had leaked confidential authorities data to colleagues each in Australia and abroad about plans to crack down on tax avoidance by multinational corporations. 

4. Ukraine nears cope with international insurers to cowl grain ships. The scheme, which may very well be put in place as early as subsequent month, is a crucial step within the nation’s makes an attempt to create a secure hall for exports after Russia withdrew from a UN-brokered deal final month. If profitable it might see as many as 5 to 30 ships lined to journey to and from Ukraine’s Black Sea ports.

5. The $25tn international non-public funds trade is braced for some of the sweeping regulatory reforms in its historical past because the US Securities and Alternate Fee prepares to impose powerful necessities on non-public fairness, actual property and hedge funds when it meets on Wednesday. Right here’s extra on the far-reaching guidelines.

The Large Learn

Welcome to the à la carte world. Because the post-cold struggle age of America as a sole superpower fades, the previous period when international locations had to select from a prix fixe menu of alliances is shifting right into a extra fluid order. The stand-off between Washington and Beijing is presenting a possibility for a lot of the world: not simply to be wooed but in addition to play one off towards the opposite — and many are doing this with alacrity and growing ability.

We’re additionally studying . . . 

• Public well being: International locations want to begin working collectively on essentially the most harmful pathogens to keep away from repeating the errors of Covid-19, the World Well being Group’s chief scientist stated in an interview with the FT.

• Credit score Suisse: What began as Switzerland’s public embarrassment is now a supply of accelerating political stress, writes Jonathan Guthrie, as voters watch UBS intently forward of October elections.

• Energy in solidarity: As autocrats all over the world strengthen ties, human rights activists are calling for higher international co-operation, writes writer and journalist Kim Ghattas.

Graphic of the day

Automobile producers, mining corporations and battery builders are all making an attempt to carve out an area on this planet of next-generation batteries, forming a sequence of alliances whereas putting technological bets. However no matter know-how turns into dominant, batteries powering tomorrow’s electrical automobiles would require huge quantities of mining and processing.

Take a break from the information

With the Church of Scotland poised to make some deep cuts, the FT Weekend Essay examines the social penalties of spiritual retreat and the way Scotland misplaced the religion.

Further contributions from Benjamin Wilhelm.