Treasury brings in expert to review business rates for UK pubs and hotels

Canadians wanted their prime minister to stand tough and not sign a bad trade deal with the US. But the collapse of talks, and the escalation of the tariff war, will come at a price.

Also in this newsletter: Alibaba announces $10.2bn share placement and Anthropic’s best AI model struggles to attract users

Economists criticise Fed chair’s communication strategy as policymakers prepare to gather at Jackson Hole symposium

Collapse of talks threatens to raise prices even higher months before midterm election

Volodymyr Zelenskyy addresses the Ukrainian nation, the Fed’s Kevin Warsh talks monetary policy at Jackson Hole and investors await Nvidia earnings call

Turkey’s central bank decided to resume weekly repo auctions at its 37% policy rate, a step toward normalizing funding conditions and betting that the worst of the Iran war’s economic fallout has passed.