Good morning. TikTok…the countdown to a deal may be on. The Federal Reserve prepares to deliver its long awaited rate cut. And the president goes to see the king. Listen to the day’s top stories.
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TikTok is dancing closer to an American makeover. A framework deal agreed by American and Chinese officials would spin off the app’s US arm to a group of companies including Oracle, Andreessen Horowitz and private equity firm Silver Lake. The whole thing now hinges on Donald Trump and Chinese President Xi Jinping ironing out the final steps during a key phone call on Friday.
Eli Lilly’s obesity pill prompted weight loss of 11.2% for patients in a large clinical trial. But you might not want to give up the jabs just yet—the tablet doesn’t appear likely to help with weight as much as the Zepbound or Wegovy shots—but it will be easier to produce and use, and eventually, perhaps also cheaper.
An ice cream truck spreads the word of Ben & Jerry's flavor, Pecan Resist, in 2018. Photographer: Joy Asico/AP Images for Ben & Jerry's
The Trump administration’s desire to amp up the production of oil, gas and coal while dismantling policies that back clean energy is hurting US competitiveness, former vice president Al Gore warned. Here’s a reminder of how the White House’s unprecedented attacks on wind and solar power are upending the industry.
Deep Dive: Trump and Circumstance
The president and First Lady Melania Trump disembark from Air Force One Photographer: Chris Ratcliffe/Bloomberg
The Trumps arrived in the UK for their state visit, with the promise of deals and diplomacy jostling with the constant threat of global and domestic tensions intruding on the royal fanfare.
The president and First Lady will be greeted by senior royals today, with a cannon salute fired to kick off the pomp-laden visit. From there, they’re set to take part in a carriage procession and watch a military display, before a white-tie banquet.
Also on the agenda: an announcement of a British-American technology partnership, and an event with a number of tech executives at the British prime minister’s country estate after a slew of investment pledges.
But protests threaten to encroach on the ceremonies. Police arrested four men after an image of Trump and deceased sex offender Jeffrey Epstein was projected onto a turret of Windsor Castle.
Even the flight over was fraught with peril. A Spirit Airlines passenger jet got a little too close for comfort with Air Force One, prompting a testy air traffic controller to admonish the crew: “Pay attention! Get off the iPad!”
An image projected onto a tower of the Windsor Castle by activist group Led by Donkeys Photographer: Lena Voelk/AFP
The Big Take
A gas leak is lit on fire to show the leaking from a broken valve on an abandoned well. Photographer: Mark Felix
Trump and Powell tour the Fed’s headquarters renovation project. Photographer: Chip Somodevilla/Getty Images North America
It’s decision day at the Fed, and markets are rallying on expectations of a rate cut, John Authers writes. It’s what the Trump administration wants, but lowering rates when inflation is not beaten and equities look too expensive is a hazardous proposition in the long term.
The Amazing Adventures of Kavalier and Clay. Photographer: Evan Zimmerman
Heading to New York City? The fall season on Broadway and off features a range of new and revived works. Notable shows include Punch and Masquerade, while Ragtime and Chess are getting revivals.
