Kamala Harris lays out positions on China, Ukraine and Gaza

Good morning. Right this moment we will likely be taking a look at:

• Feedback by the governor of the Financial institution of Japan the place he warned world markets have been “unstable”.

• Why Nestlé chief government Mark Schneider is stepping down after eight years.

• If the UK could make carbon seize a viable a part of its web zero coverage.

However first we are going to check out Kamala Harris’s 40-minute primetime speech accepting the Democratic nomination which provided the clearest assertion to this point on what US international coverage would appear like underneath her management.

Harris stated that as president she would guarantee “America, not China, wins the competition for the 21st century” and promised to “stand strong with Ukraine and our Nato allies”. She additionally spoke at size in regards to the Center East, saying she would “always ensure Israel has the ability to defend itself” whereas describing the size of human struggling in Gaza as “heartbreaking”.

In feedback that garnered roars of approval from the gang, she added: “President Biden and I are working to end this war such that Israel is secure, the hostages are released, the suffering in Gaza ends and the Palestinian people can realise their right to dignity, security, freedom and self-determination.”

Chatting with tens of thousands and thousands of viewers throughout the US, Harris additionally warned of the results of placing Donald Trump again within the White Home and stated the nation had a “precious, fleeting opportunity” to chart a brand new path. Learn extra about her speech right here.

• Gaza protests: As Harris spoke in regards to the conflict, pro-Palestinian demonstrators gathered exterior the conference, warning that US backing for Israel would price her votes.

• RFK marketing campaign nears finish: Robert F Kennedy Jr is count on to finish his bid for the presidency quickly and endorse Donald Trump. A transfer the previous president stated he can be “honoured” by.

With the tip of the DNC, Harris now faces strain to maintain this surge of Democratic assist alive. Enroll for our US Election Countdown e-newsletter for the most recent updates on this subsequent part.

Right here’s what else I’m retaining tabs on at the moment:

• Financial information: The European Central Financial institution releases its shopper expectations survey, France publishes its enterprise confidence survey and GfK has its shopper confidence survey for the UK.

• Federal Reserve: Chair Jay Powell’s speech at Jackson Gap will likely be intently watched by traders after a high Fed official on the symposium warned towards “self-fulfilling” pessimism on the US financial system.

Thanks for studying FirstFT. Do you’ve gotten any questions in regards to the US presidential race? E-mail us at firstft@ft.com or hit “reply” and bear in mind to incorporate your title and the place you’re writing from. We’ll reply as many as attainable in a particular weekend version of the e-newsletter.

5 extra high tales

1. The governor of Japan’s central financial institution Kazuo Ueda stated world markets “remain unstable” in remarks to the nation’s parliament on Friday. Ueda defended the financial institution’s fee improve in July to 0.25 per cent saying the rise was to “reaffirm that the economy was generally moving in line with our economic and price outlook, particularly the outlook for inflation”. Learn extra of his remarks right here.

2. The US has stated Mexican judicial reforms pose a “major risk” to the nation’s democracy threatening to deepen a rift between the 2 on migration and commerce. The feedback by US ambassador Ken Salazar stand in sharp distinction to lower than every week in the past when he stated elements of the reforms have been “an opportunity to do good things”. Learn extra right here.

• South American politics: Javier Milei’s bid to steadiness Argentina’s price range was dealt a blow as lawmakers within the senate voted for a brand new formulation for calculating pensions that might extra absolutely account for Argentina’s triple-digit inflation.

3. AI-driven coding assistants have amassed almost $1bn of funding for the reason that begin of final yr, a sign that software program engineering is changing into the primary “killer app” for generative synthetic intelligence. However this rising conviction in Silicon Valley stands in distinction to questions amongst some traders in regards to the financial advantages of generative AI. Listed here are the businesses elevating cash.

• Open-source AI: Free-to-use “open” fashions assist builders catch as much as giants equivalent to OpenAI and Google, writes Richard Waters. There’s only one drawback: most of those fashions are not very open.

4. Nestlé chief government Mark Schneider will step down after eight years and be succeeded by firm veteran Laurent Freixe subsequent month. The world’s largest meals producer had outperformed lots of its shopper items rivals for a lot of Schneider’s tenure. However there have been setbacks that led to yesterday’s determination.

5. Nigeria’s presidency has defended its buy of a multimillion-dollar jet that has swelled the presidential air fleet to nearly a dozen carriers, even because the nation endures its worst financial downturn in many years. Pictures of President Bola Tinubu flying on the personalised Airbus A330 have drawn heavy criticism, with one former minister calling it a image of “fiscal recklessness and rascality”.

How effectively did you retain up with the information this week? Take our quiz.

The Massive Learn

The UK is trying to retailer a few of its 400mn tonnes of annual emissions in salt caverns and depleted oil and gasfields round its shoreline to assist meet its web zero objectives. Heavy polluters within the nation’s industrial sector hope the Labour authorities will determine to fund this effort, however questions persist over its business and technical feasibility at any scale. Can Britain make carbon seize work?

We’re additionally studying . . . 

• German price range: Chancellor Olaf Scholz’s determination to reduce army assist to Ukraine will solely encourage Russia and undermine European safety, writes Ben Corridor.

• US financial system: Manufacturing jobs have traditionally been seen as a ticket into the American center class, writes Soumaya Keynes. However do they pay higher?

• Lidl’s cloud unit: Schwarz Group, the low cost retailer’s guardian group, is providing information companies to firms cautious of massive suppliers equivalent to Amazon and Google.

• Buffon vs Linnaeus: An 18th-century mental rivalry between two naturalists has numerous classes for at the moment’s expertise sector, writes John Thornhill.

Chart of the day

With the continent’s quickly rising inhabitants and excessive focus of essential minerals, Africa has been wooed by leaders world wide, however few international locations have but to plan an “Africa strategy” to take full benefit of the connection, specialists say.

Take a break from the information

The legal guidelines of eating may appear immutable, however after we are launched to new meals our etiquette must adapt. Simply take a look at how British desk manners have been turned the wrong way up by the introduction of spaghetti. Our restaurant critic Tim Hayward has recommendation on consuming politely irrespective of the scenario.

Further contributions from Emily Goldberg and Tee Zhuo.