This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia<\/a>, Europe\/Africa<\/a> or Americas<\/a> edition to get the newsletter delivered every weekday morning. Explore all of our newsletters here<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n Good morning and welcome back. As we head into the working week here\u2019s what we have for you: <\/p>\n Trump says he\u2019s found buyers for TikTok<\/p>\n<\/li>\n Europe\u2019s liberalism vs populism debate<\/p>\n<\/li>\n US tourists flock to Europe this summer<\/p>\n<\/li>\n<\/ul>\n Economists are raising serious concerns about the US losing its position as the ultimate safe haven for foreign investors, thanks to Trump\u2019s \u201cbreathtaking fiscal policy excess\u201d and his ongoing attacks on the Federal Reserve. <\/p>\n A recent FT-Booth survey revealed that over 90% of economists worry about the future of US dollar-denominated assets over the next five to 10 years.<\/p>\n While the White House maintains that Trump\u2019s policies will eventually help reduce US debt, independent estimates, including by the Congressional Budget Office, suggest that his budget measures<\/a> will only push federal debt to new highs. And despite the usual appreciation role of the dollar during market turmoil, the currency actually depreciated when Trump unveiled aggressive tariffs back in April.<\/p>\n As the dollar trades at a three-year low, some are now looking to the Swiss Franc and gold as safer bets. With concerns over fiscal sustainability and Trump\u2019s attacks on Fed Chair Jay Powell, it\u2019s clear that the US may be facing an uncertain financial future. <\/p>\n On US Treasury yields: <\/strong>US Treasury yields, typically expected to fall during market volatility, actually saw a rise in early April. Though the 10-year yield has since dropped to around 4.3%, many economists believe it could soon breach 5% \u2014 a level that would likely set off alarms in the Trump administration. Nearly three-quarters of the economists polled predict the 10-year yield will climb above 5% by the middle of next year, signalling potential concerns about the economy\u2019s stability.<\/p>\n On GDP growth: <\/strong>The US economy is now expected to grow by 1.5% this year, a slight dip from the 1.6% forecast in the spring. Confidence and growth projections took a hit after the April 2 tariffs, but have partly rebounded thanks to the US-China trade truce and rising equity prices. <\/p>\n Meanwhile, economists are becoming more concerned about price pressures, with expectations for core PCE inflation creeping up from 2.8% in March to 3% in June, largely due to the tariffs. However, only a few economists see a greater than 50% chance of PCE inflation surpassing 4% and unemployment exceeding 5% between now and the end of 2026.\u00a0<\/p>\n Read more about the FT-Booth survey.<\/a><\/p>\n And here\u2019s what we\u2019re keeping tabs on today:<\/p>\n Companies:<\/strong> John Ridding steps down as CEO of the Financial Times today, with Jon Slade set to succeed him, as the FT marks a decade under Japanese media group Nikkei.<\/p>\n<\/li>\n Sports: <\/strong>Wimbledon kicks off today, promising two weeks of world-class tennis at the All England Lawn Tennis Club.\u00a0<\/p>\n<\/li>\n Economic data:<\/strong> Japan\u2019s June Tankan survey, due Tuesday, will provide key insights into business sentiment and economic conditions in the country.<\/p>\n<\/li>\n<\/ul>\n 1. A \u201cgroup of very wealthy people\u201d is set to buy TikTok\u2019s US operations<\/strong>, President Donald Trump announced, in his efforts to sever his country\u2019s ties with China. While the deal still requires Chinese approval, Trump expects President Xi to give the go-ahead, he said in a Fox News interview. Trump, who credits TikTok for connecting him with younger voters, plans to reveal more details about the buyers<\/a> next month. <\/p>\n 2. Nvidia insiders, including CEO Jensen Huang, have sold over $1bn in company stock<\/strong> over the past year, with more than $500mn of those sales occurring this month<\/a> as the chipmaker\u2019s shares hit a record high. The surge comes from a huge demand for chips to power AI applications, despite a turbulent year marked by US-China trade tensions.<\/p>\n More on tariff tensions:<\/strong> As Donald Trump\u2019s looming tariffs threaten to disrupt Asia\u2019s manufacturing giants, Financial Times reporters spoke to textile producers, electronics makers, and car suppliers grappling with the fallout<\/a>.<\/p>\n<\/li>\n<\/ul>\n 3. Iran could restart enriching uranium within months<\/strong>, according to Rafael Grossi<\/a>, head of the UN\u2019s nuclear watchdog, despite significant damage caused by US and Israeli strikes. Grossi\u2019s comments follow a week of conflicting reports on the extent of the damage to Iran\u2019s nuclear programme.<\/p>\n 4. Russia launched its largest aerial assault on Ukraine since the invasion began<\/strong>, marking a significant escalation in the conflict<\/a>. The Saturday barrage, which included over 500 aerial weapons \u2014 such as explosive drones and missiles \u2014 sought to degrade Ukraine\u2019s already limited air defences. As the war wages on, President Zelenskyy has called for more western support, particularly in strengthening its air defence systems.<\/p>\n 5. South Korea has become Asia\u2019s best-performing market in the first half of the year<\/strong>, with the Kospi Composite index soaring nearly 30 per cent<\/a>. The rally has been driven in part by investor excitement over won-based digital currencies, sparked by President Lee Jae-myung\u2019s pledge to allow crypto assets backed by the national currency.<\/p>\n Timothy Garton Ash examines how the Russian invasion of Ukraine has catalysed a clash between Europe\u2019s liberal, internationalist future and a rising wave of populism, raising critical questions about the continent\u2019s trajectory amid unpredictable external forces. Will the liberal centre hold, or is populism poised to take over?<\/a><\/p>\n Chatbot complaints:<\/strong> As AI-assisted complaints<\/a> flood in, Pilita Clark explores the new hurdles HR and customer service teams face as they deal with an influx of unwarranted \u2014 and lengthy\u00a0\u2014 issues generated by chatbots.<\/p>\n<\/li>\n \ud83c\udfa7 Iran-US relationship:<\/strong> John Bolton, Donald Trump\u2019s former national security adviser, and the FT\u2019s Gideon Rachman, share their insights on the future of America\u2019s relationship with Iran<\/a> and the embattled regime.<\/p>\n<\/li>\n Hong Kong\u2019s comeback:<\/strong> Hong Kong\u2019s IPO market has surged to $13bn<\/a> this year, challenging its critics amid rising Chinese listings and geopolitical tensions, writes Lex Asia editor June Yoon.<\/p>\n<\/li>\n<\/ul>\n Europe\u2019s tourist hotspots are set to see record crowds this summer, with a surge in American visitors driving concerns about overtourism. Between January and May, more than 7.7 million Americans travelled to Europe, marking a 6 per cent increase year-on-year. Eurostar reported a 45 per cent rise in bookings from American travellers for June and July compared to last year. What\u2019s behind the surge?<\/a><\/p>\n London\u2019s best-kept secret?<\/a> Living afloat. For one writer, living on a boat became the ultimate blend of affordability, peace, and community. Though unconventional and not without its challenges, the boat life proved a romantic and rewarding choice amid the bustle of the capital.<\/p>\n\n
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Five more top stories<\/h3>\n
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The Big Read<\/h3>\n
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Chart of the day\u2009<\/h3>\n
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Take a break from the news<\/h3>\n
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