Democrats in turmoil, the cheapest generation and why we are all so tired
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The head of the Democratic National Committee has resigned after the leaking of 20,000 emails exposed rifts in the party leadership, throwing Hillary Clinton’s campaign into turmoil on the eve of this week’s convention.
The scandal threatens to overshadow the first days of the convention in Philadelphia and the news that Michael Bloomberg, the former New York mayor, will endorse Mrs Clinton on stage. Meanwhile, the former secretary of state chose Virginia senator Tim Kaine as her running mate. Mr Kaine is seen as a safe — if unexciting — option whose everyman roots and fluent Spanish could benefit the Democratic ticket. (FT)
In the news
Trump’s thinking on trade The Republican presidential candidate suggested on Sunday that the US could pull out of the World Trade Organisation and said that the EU had been created largely to compete against the US in international trade. He also reiterated controversial suggestions that the US might not fulfil its commitments to defend Nato allies under attack. (FT)
Germany on edge A man who blew himself up and injured 12 people on Sunday night after being turned away from a music festival was a 27-year-old Syrian who had been denied asylum. If was the fourth violent incident in Germany in as many days. (FT)
Verizon to buy Yahoo’s internet business The US telecoms group is set to acquire Yahoo’s core business in a $5bn deal that will end months of uncertainty over the future of the struggling internet group. The drawn-out auction for Yahoo was described by some bidders as “messy”. (FT)
Brexit stampede out of UK funds M&G, Schroders, Fidelity and Invesco suffered billions of euros of withdrawals in June as the first set of data since Britain’s vote to leave the EU shows how badly UK fund houses were hurt by the result. (FT) Read our new daily Brexit Briefing, or forward to other FT subscribers who can sign up to receive it daily by email here.
Russia escapes blanket Olympics ban The Olympics governing body has decided against imposing a blanket ban on Russian athletes from competing in Rio de Janeiro, despite widespread calls for stringent action after revelations of a state-sponsored doping cover-up at previous games. (FT)
The threat to Asean unity A meeting of Southeast Asian foreign ministers failed to produce a joint statement over the territorial disputes in the South China Sea, underscoring how successfully China has sown divisions within the regional group. (NAR)
It’s a big day for
Nintendo Shares fell as much as 16.5 per cent in early trading on Monday, after the Japanese games group said the impact of the Pokémon Go mobile game on its earnings would be “limited”. (FT)
BHS The findings of a parliamentary inquiry into Britain’s most contentious corporate failure in years are set to be published. The report follows weeks of hearings that MPs say “resembled a circular firing squad” of witnesses who believed that by implicating others they could escape blame. (FT)
Keep up with the important business, economic and political stories in the coming days with the FT’s week ahead.
Food for thought
Why Singapore kids are so good at maths A deep dive into the secret of the city-state’s arithmetic success. (FT)
The price of Europe’s pragmatism Wolfgang Münchau on how to reconcile the differing views from the UK and the continent. “The sustainable solution thus consists of a more integrated eurozone and a less integrated EU”. (FT)
Generation cheap New car and home purchases powered the US economy since the end of the second world war. Now, millennials have largely lost interest in buying either. The reasons why are obvious yet the implications — for both the economy and urban planning — are profound. (The Atlantic)
The Putin-Trump connection Josh Marshall looks at Mr Trump’s troubling ties to Russia, while Franklin Foer explains why, if the Russian president could design a candidate to undermine American interests, and advance his own, he’d look a lot like Mr Trump. (TPM, Slate)
Flaunt your reading list Showing off if you are a chief executive has never been harder, writes Lucy Kellaway. Boasting about how much you spend is already taboo and golf scores are inversely linked to company performance. So what is a CEO to do? For some, the answer is a pretentious summer reading list. (FT)
Why we are all so tired More and more people are suffering “burnout” — but is this the fault of modern life or is physical, mental and spiritual exhaustion a far older condition? (BBC)
Video of the day
Week ahead The FT’s Nalini Sivathasan looks at some of the big stories in the coming week, including the Democratic convention in Philadelphia, Arm’s second-quarter results which come after the planned takeover by SoftBank, and the Bank of Japan policy meeting. (FT)