Ukraine has been cleared to spend part of a €6bn tranche from a €60bn EU defence loan on Chinese drone components, marking the first allocation for procurement outside Europe and underscoring gaps in the bloc’s own arms industry.

Donald Trump’s renewed strikes on Iran lack a clear exit strategy as midterms approach, while BYD signals an aggressive European expansion that could topple Toyota without U.S. market access. Neko Health raised $700mn at a near $7bn valuation, and Oracle leads rivals to supply Japan’s top‑secret “air‑gapped” cloud. In the UK, Ed Miliband’s bid for chancellor falters as Shabana Mahmood emerges as favourite for Andy Burnham’s government.

Critical mineral yttrium—mostly processed in China—faces export curbs, fuelling resource nationalism; German drone start‑up Helsing draws bubble concerns after a high‑valuation fundraise. China’s Q2 GDP grew 4.3%, its slowest in over three years, while Eurozone GDP per head now outpaces the U.S. since 2000.

At the FIFA World Cup, Jude Bellingham’s standout play could make his brand one of sport’s most valuable if England beats Argentina in the semi‑final.