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Good morning, welcome to Firstft. I’ll cover today:
Trump Putin Alaska Summit
Evelyn Partners Sales Process
Increased isolation in Israel
And Big Tech’s inflated personal security spending
good morning. Today’s Alaska Summit between President Donald Trump and Russian President Vladimir Putin is placed to test the US president’s claim that he is a deal maker and a global peace maker after he repeatedly promises to resolve the Ukrainian war through his election campaign.
Context: Putin and Trump will be both international and domestic calculation moments for the US president at a military base in Anchorage, an Alaskan city just south of the Arctic. His recent attempt to force the Kremlin to agree to a ceasefire – to date, the threat of additional sanctions and tariffs on Indian imports as punishment for purchasing Russian oil, and the threat of tariffs.
Analysts say they are holding Putin on the US soil without inviting Ukrainian President Voldy Mie Zelensky or other European leaders into the room, and without inviting Ukrainian Voldy Mie Zelensky or other European leaders into the room. Trump said he hopes to know if there is a possibility of a ceasefire broker within the first few minutes.
However, the obvious bystanders of the European powers have revived fears that the agreement he proposed is too sympathetic to Moscow, and unacceptable to Kiev and many American allies on the continent.
Despatch from Anchorage: Ukrainian refugees in Alaska have mixed feelings about the summit, Amy McKinnon writes.
Here are other things that keep tabs today and weekends:
Economic Data: The US releases its July import and export price index, and this month it will release the University of Michigan Consumer Sentiment Index.
Results: Cochlear, Fortum, Mirvac and Pandora report revenue.
How well did you get with this news this week? Take the quiz.
Five more top stories
1. China has warned Western companies about rare earth stockpilings, and told buyers that doing so would put them at risk of even greater supply restrictions, according to two people familiar with the issue. The country handles around 90% of global supply and is armed with control over key industries in the world trade war.
2. Warren Buffett’s Berkshire Hathaway resumed selling Apple shares in the second quarter, dumping more than $4 billion in stock. The conglomerate has reduced exposure to stocks that have been publicly traded over the past three years.
3. According to people familiar with the issue, Bitcoin in the US, a cryptocurrency miner backed by Donald Trump Jr. and Eric Trump, is looking for Asia for businesses to accumulate cryptocurrency. The company is developing a “strategic” Bitcoin reserve, which aims to buy listed companies in Japan and potentially buy Hong Kong.
4. Evelyn Partners’ private equitybackers plans to begin the sales process within months to target potential suitors, including NatWest and the Royal Bank of Canada. The move is the latest example of integration in the wealth management sector, potentially valuing the group at around £2.5 billion.
5. International negotiations in Geneva would have created a globally binding plastic pollution treaty after resistance from the US and petrochemical producers. The majority of representatives of the 170 countries present were willing to compromise to secure a final agreement, but the US refused to agree to anything beyond voluntary measures.
Big reading
Kenya’s Amboseli National Park hosted scientific research that revealed much of what they know about elephants. It is also a financial asset, attracting millions of tourists every year. The park’s return to local control sparked fears that efforts to protect the country’s wildlife would be receding. This change brings the struggle for a balance between community welfare and conservation.
We’re reading too. . .
Legal Challenges: Opponents of Trump’s tariffs should be wary of relying on courts. Todd Tucker of the Roosevelt Institute writes that today’s enforcer’s judicial restrictions are bound to the hands of future presidents.
Apocalyptic Marketing: Everyone talks about the end time because the appeal to Doom is advantageous, writes Chine McDonald, director of think tank Theos.
$200,000 Face Lift: In the cosmetic age shaped by Ozempic and AI, new and highly effective procedures by elite surgeons are being accepted by celebrities and ultra-rich people.
Increased Israeli isolation: The backlash against the Gaza War screams fear that the country is heading towards its Paria status.
The chart of the day
Big Tech Group bosses, including Mark Zuckerberg and Jensen Fan, increased their own personal safety spending as many well-known attacks on US executives sparked concerns over public hostility towards corporate leadership. Financial Times analysis reveals inflation security spending.
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Take a break from the news. . .
How can I get out of my poor summer reading? “I’m looking forward to the important things,” writes Alice Fishburne. “Find a slow lane and stick inside.”
