Kamala Harris lays out positions on China, Ukraine and Gaza

Good morning. At the moment we can be :

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

• Why Nestlé chief govt 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 thus far on what US overseas coverage would appear like underneath her management.

Harris mentioned that as president she would guarantee “America, not China, wins the competitors for the twenty first century” and promised to “stand sturdy with Ukraine and our Nato allies”. She additionally spoke at size in regards to the Center East, saying she would “at all times guarantee Israel has the flexibility to defend itself” whereas describing the dimensions of human struggling in Gaza as “heartbreaking”.

In feedback that garnered roars of approval from the group, she added: “President Biden and I are working to finish this warfare such that Israel is safe, the hostages are launched, the struggling in Gaza ends and the Palestinian individuals can realise their proper to dignity, safety, freedom and self-determination.”

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

• Gaza protests: As Harris spoke in regards to the warfare, 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 mentioned he could be “honoured” by.

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

Right here’s what else I’m preserving tabs on at this time:

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

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

Thanks for studying FirstFT. Do you will have any questions in regards to the US presidential race? E-mail us at [email protected] or hit “reply” and bear in mind to incorporate your title and the place you’re writing from. We’ll reply as many as potential in a particular weekend version of the e-newsletter.

5 extra prime tales

1. The governor of Japan’s central financial institution Kazuo Ueda mentioned world markets “stay unstable” in remarks to the nation’s parliament on Friday. Ueda defended the financial institution’s price improve in July to 0.25 per cent saying the rise was to “reaffirm that the economic system was typically transferring in keeping with our financial and value outlook, notably the outlook for inflation”. Learn extra of his remarks right here.

2. The US has mentioned Mexican judicial reforms pose a “main danger” 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 per week in the past when he mentioned facets of the reforms have been “a possibility to do good issues”. 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 components for calculating pensions that will extra totally account for Argentina’s triple-digit inflation.

3. AI-driven coding assistants have amassed almost $1bn of funding because the begin of final 12 months, a sign that software program engineering is turning 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 below are the businesses elevating cash.

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

4. Nestlé chief govt 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 client 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 personalized Airbus A330 have drawn heavy criticism, with one former minister calling it an emblem of “fiscal recklessness and rascality”.

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

The Massive Learn

The UK is seeking 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 industrial 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 help to Ukraine will solely encourage Russia and undermine European safety, writes Ben Corridor.

• US economic 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 dad or mum group, is providing information providers to corporations cautious of huge suppliers akin to Amazon and Google.

• Buffon vs Linnaeus: An 18th-century mental rivalry between two naturalists has a number of classes for at this time’s expertise sector, writes John Thornhill.

Chart of the day

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

Take a break from the information

The legal guidelines of eating may appear immutable, however once 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 regardless of the state of affairs.

Further contributions from Emily Goldberg and Tee Zhuo.