China’s Cheap AI Edge, Bessent’s High-Stakes Fix, Iran ‘Economic Warfare’

Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) A spate of compelling releases at budget prices have made China the frontrunner in the race for global adoption.

(2) China is using new legal powers to block European Union scrutiny of alleged state support for its companies, adding friction ahead of an October deadline to resolve outstanding trade disputes.

(3) JPMorgan strategists warned that markets may view the US Treasury’s surprise effort to curb long-term borrowing costs as lacking credibility, potentially pushing up the term premium and yields over time.

(4) Total US public debt surpassed $40 trillion for the first time, and has now surged by a third in less than five years, as US lawmakers continue to shrug off calls to contend with historically wide fiscal deficits.

(5) The UK’s Green Party has said it wants to apply a 38% windfall tax on banks, adding to the pressure from the left on Prime Minister Andy Burnham to target the City of London.

(6) The Duke and Duchess of Sussex are planning to move back to the UK, BBC News understands.

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