Western elements utilized in sort of Russian missile that hit Kyiv youngsters’s hospital

Good morning. At this time we’re masking:

• Warming Russia-India relations

• Utilizing AI for drug discovery

• India’s superpower potential

However first, we now have an unique story on the kind of Russian missile that destroyed a youngsters’s hospital in Kyiv on Monday, with specialists and Ukrainian officers reporting that the mannequin depends on western-designed elements.

Captured on digicam a second earlier than it hit the most cancers hospital, the Kh-101 is certainly one of Russia’s most superior cruise missiles and demanding to the Kremlin’s intensifying air strike marketing campaign towards Ukraine. Russia is making almost eight instances extra Kh-101s than earlier than President Vladimir Putin ordered the full-scale invasion of Ukraine in 2022 — and continues to be depending on elements from western international locations, significantly the US.

Though sanctions have reduce Russia off from some superior elements, the Kremlin’s defence sector has turned to microprocessors and different superior expertise not supposed for navy use. The transition is seen in a Ukrainian evaluation of a Kh-101 fired in January, which revealed 16 items of western-made electronics contained in the missile. Listed here are extra particulars from the most recent evaluation.

• US support: The US will give Kyiv an extra Patriot air defence system to bolster the nation’s defences towards Russia, becoming a member of contributions from 4 different Nato members.

• Extra Russia: A Russian courtroom has accused the widow of Kremlin critic Alexei Navalny of “extremism” and ordered her arrest if she ever returned dwelling.

Right here’s what else is occurring at the moment:

• Nato summit: US President Joe Biden and Nato secretary-general Jens Stoltenberg will welcome world leaders to Washington for a summit to mark the seventy fifth anniversary of the western navy alliance. On the summit’s sidelines European delegates will probably be holding conferences with Donald Trump’s associates.

• Jay Powell: The Federal Reserve chair delivers semi-annual financial coverage testimony earlier than the Home monetary companies committee. Yesterday he informed a Senate committee that the US central financial institution had made “appreciable progress” in its mission to beat again inflation.

• Financial knowledge: Brazil’s statistics company IBGE publishes shopper value knowledge for June.

5 extra high tales

1. The Democratic rift over the destiny of Joe Biden’s re-election marketing campaign widened yesterday after lawmakers held a tense and gloomy day of talks on whether or not to rally across the US president or push him to drop his bid. Biden received assist from some key Democrats, however the realisation that he’s digging in as a substitute of stepping apart is instilling confusion, despair and anger within the get together.

2. Microsoft has given up its seat as an observer on the board of OpenAI whereas Apple won’t take up an identical place, amid rising scrutiny by world regulators of Huge Tech’s investments in AI start-ups. As an alternative, OpenAI will host common conferences with companions reminiscent of Microsoft and Apple and buyers Thrive Capital and Khosla Ventures. The adjustments are being overseen by new chief monetary officer Sarah Friar.

3. China’s shopper value development slowed in June whereas manufacturing unit costs eased however remained in deflationary territory, prompting hopes for stronger efforts to spur the financial system at an vital Communist get together coverage gathering subsequent week. The information underscored considerations about tepid shopper spending on this planet’s second-largest financial system.

4. Flagship Pioneering, the enterprise capital fund that launched Moderna, is planning to create a spree of recent biotechs harnessing generative synthetic intelligence to energy drug discovery after securing $3.6bn in funding from its monetary backers. Learn extra on Flagship’s new fund.

5. India and Russia have agreed to spice up commerce after 5 hours of talks between Narendra Modi and Vladimir Putin in Moscow yesterday. The 2 leaders agreed to extend annual bilateral commerce to $100bn by 2030, up from $65bn at current, with India importing extra Russian oil. Right here’s extra on what Modi has hailed as an “all-weather” relationship.

• Musk and Modi: Tesla’s chief blindsided the prime minister when he cancelled his India journey in April for talks in China. However the billionaire stays centered on long-term potential on this planet’s most populous nation.

The Huge Learn

The snap elimination of Nigeria’s petrol subsidy has pushed tens of millions of residents deeper into poverty. The drastic measure is a part of “Tinubunomics”, a set of insurance policies carried out by President Bola Tinubu, who says they’re essential to inject market self-discipline into the distorted and flat-on-its-back financial system. However critics say the strategy, which has included a large devaluation of the naira, is a return to the shock remedy of the eighties and nineties that may impoverish tens of millions in pursuit of market purity.

We’re additionally studying . . . 

• UBS vs Switzerland: In an more and more acrimonious confrontation, the financial institution’s leaders have clashed with the nation’s institution over points from capital necessities to its CEO’s pay.

• Metropolis of London: the Sq. Mile is reclaiming momentum from Paris after twin election outcomes that threaten to reverse the 2 capitals’ relative enchantment, writes Patrick Jenkins.

• House journey: Ariane 6, Europe’s first new heavy-lift rocket in virtually 30 years, has blasted off from its launch pad close to Kourou in French Guiana. Closely subsidised as a way to compete with Elon Musk’s SpaceX, it would orbit the Earth for a number of years.

Chart of the day

Narendra Modi aspires to make India a developed nation by the point it celebrates 100 years of independence in 2047. How believable is that this aspiration? In his newest column Martin Wolf assesses how the nation may attain that objective and what it would imply for the remainder of the world.

Take a break from the information

“Misplaced New York” is a pleasantly haphazard assortment of objects and vignettes that inform a vibrant and disjointed story of town. The New-York Historic Society’s exhibition covers shops, a theatre the place Houdini performed and forgotten herds of pigs.

Extra contributions from Tee Zhuo and Benjamin Wilhelm