🛢 Oil steadied below $100 a barrel after plunging on recession fears. Earlier, the West Texas Intermediate benchmark fell by 8% to the lowest close since late April. https://bloom.bg/3P5AGpd

😷 The return of mass testing in Shanghai is fueling concerns of another lockdown in China's pursuit of Covid Zero. Macau, battling its worst outbreak so far, just shut down its first casino since 2020 while Hong Kong's new leader said the city would not "lie flat" on the virus. https://bloom.bg/3OLtq27

🧳 The long-standing rivalry between Hong Kong and Singapore ensues. Here's our guide to which city is better for expats in 2022. https://bloom.bg/3IjxaFF

Here's the latest on the war in Ukraine:

🗣️ President Volodymyr Zelenskiy says he’s confident UK policy toward Ukraine won’t change any time soon, after Boris Johnson announced his intention to resign as prime minister.
https://bloom.bg/3RhR1Jd

🇺🇦 Ukraine summons the Turkish ambassador, citing an “unacceptable situation” after authorities in Turkey released a Russian vessel that Kyiv says was shipping grain seized from the Ukrainian port of Berdyansk.
https://bloom.bg/3akLSzJ

⛽ The US and its allies have discussed trying to cap the price on Russian oil as a way to curb the Kremlin’s revenue, as German Chancellor Olaf Scholz accused Vladimir Putin of using energy as a political weapon.
https://bloom.bg/3aplyV5

Hello, here's what we're following:

🇬🇧 Boris Johnson’s plan to drag out his departure is under threat. The ruling Conservative Party is urgently drawing up plans for an accelerated contest to choose his successor by the end of the summer, rather than allowing an extended three-month swan song. https://bloom.bg/3P774rw

🇭🇰➡️🇨🇳 Hong Kong is one of the last places in the world still requiring hotel quarantine for all incoming arrivals. But the system is buckling under surging demand from Chinese travelers using the city as a gateway to the mainland. https://bloom.bg/3NUMGZE

🚉 Violent protests, including trains set on fire, reveal the wrath of millions left unemployed in India. PM Narendra Modi had pledged to create millions of jobs. https://bloom.bg/3NZmuNO

Breaking: Former Japanese Prime Minister Shinzo Abe was unconscious and unresponsive after he was apparently shot in the chest during a political event in the western city of Nara on Friday, national broadcaster NHK and local media reports said. A suspect is in custody.

Read more: https://bloom.bg/3NRRmiX

Hello, here's the latest on the war in Ukraine:

📈 European natural gas heads for the longest stretch of weekly gains this year even as traders turn their attention to a potential easing of Russia’s supply squeeze.

https://bloom.bg/3uxDrIi

🤝 The US will seek to forge agreements with like-minded countries over Ukraine on the sidelines of the G-20 foreign ministers’ meeting in Bali this week, a senior state department official says Thursday, a sign that broader consensus will be tough with Russia and China in attendance.

https://bloom.bg/3ORDS8o

💸 Russian billionaire Roman Abramovich has hired US law firm Kobre & Kim to represent him at rates of up to $1,900 an hour as he prepares to contest a US warrant to seize two of his keys over alleged sanction violations.

https://bloom.bg/3c0FkXp

🇯🇵 Japan’s ruling coalition won big in a vote held two days after the assassination of Shinzo Abe, who led the bloc to numerous victories during his term as prime minister. https://bloom.bg/3AH2bl4

⌚️ The Apple Watch is set to go “Pro” this fall with a new extreme sports edition. https://bloom.bg/3OTsYPk

👀 After Elon Musk dropped his takeover bid, Twitter assembled a legal team to sue him. Bloomberg Opinion's Matt Levine breaks down how the billionaire lost interest. https://bloom.bg/3PgjGge

Hello, here’s what we’re following today:

⛽ Russian natural gas shipments to Europe via the Nord Stream pipeline to Germany are due to stop on Monday for planned annual maintenance, and Western allies fear President Vladimir Putin will use the opportunity to cut off flows for good.

https://bloom.bg/3ay7NUc

📉 Twitter Inc. shares have fallen in premarket trading after Elon Musk walked away from his $44 billion deal to buy the company, setting the scene for a disruptive legal battle.

https://bloom.bg/3PjDwaa

💉 European regulators are urging second booster doses of Covid-19 vaccines for people over 60 years old as cases and hospitalizations are again rising sharply.

https://bloom.bg/3O19fMi

🧳 Where in the world are Three Arrows Capital's founders? Liquidators for the bankrupt crypto hedge fund are now faced with a mystery. https://bloom.bg/3PhTlhJ

📉 The global economy may be going into a downturn, but here are 10 things different now compared with the last big recession. https://bloom.bg/3yqn9Sk

🔍 WeChat is China's most beloved and feared surveillance tool. Read an excerpt from Bloomberg reporter Lulu Chen's book "Influence Empire" on how the app posed a threat to Beijing's rule. https://bloom.bg/3yBtomm

Hello, here's what we're following today:

📉 The risk of a UK recession in the next 12 months is now almost 50-50, according to a Bloomberg survey that underscores the darkening outlook for the economy. https://bloom.bg/3yUQbeu

✈️ London’s Heathrow airport is imposing a two-month cap on daily passenger traffic, a dramatic response by the country’s busiest airport to the flight chaos that has gripped Europe for weeks as airlines and ground crews struggle to process a surge in travel demand. https://bloom.bg/3PooqjF

💰 The euro is edging closer toward parity with the US dollar as energy concerns and the risk of recession weigh on the outlook for the region. https://bloom.bg/3O0Tbuf

🇱🇰 Sri Lanka's president has fled to the Maldives, marking a turning point for the ruling Rajapaksa dynasty after fierce protests. Follow live updates on the country's crisis. https://bloom.bg/3Prkej9

💼 Twitter sued Elon Musk over his abandoned $44 billion takeover bid, accusing the world's richest man of having buyer’s remorse. https://bloom.bg/3NWxNpS

🧨 The founders of Three Arrows Capital turned it into the most important hedge fund in crypto. This is how it blew up and set off a contagion. https://bloom.bg/3ALFNqQ

Here’s what we’re following right now:

🩺 The UK economy grew more than expected in May, with GDP rising 0.5% thanks to a strong rebound in health services. https://bloom.bg/3uJdl56

🛢️ Nearly five months after Russia’s invasion of Ukraine sparked a global energy crisis, Italy is pulling ahead in reducing its dependency on Moscow. https://bloom.bg/3Iz1ZpM

🏠 Across China, homebuyers are refusing to pay mortgages as property developers drag on construction projects, escalating the country’s real estate crisis and risks of bad debt for banks. https://bloom.bg/3PmpVPn

🏦 Fed officials may debate a historic one percentage-point rate hike later this month after US inflation rose a faster-than-forecast 9.1%. https://bloom.bg/3z3whOi

🌡 Crypto lender Celsius filed for Chapter 11 bankruptcy a month after freezing customer withdrawals, the latest casualty from the rout in cryptocurrencies. https://bloom.bg/3z4tbd9

🏘 More Chinese homebuyers are refusing to pay their mortgages, with loan payments stopped on at least 100 projects. That's only adding pressure to China's property market, our credit tracker shows, as the bond market moves into a fresh phase of distress. https://bloom.bg/3RKktbp

Here’s what we’re following right now:

🗳️ The UK Conservative Party will hold another ballot Thursday in the race to elect their new leader and Britain’s next prime minister. Rishi Sunak and Penny Mordaunt have emerged as frontrunners. https://bloom.bg/3NZLa8M

🌪️ Investors are dumping Italian assets as political turmoil puts Mario Draghi’s government at risk of collapse. https://bloom.bg/3O6yjBy

🧳 The baggage chaos at airports is getting so bad that travelers are turning to AirTags and similar devices to keep tabs on their belongings. https://bloom.bg/3z3qzvW

Hello, here's what we're reading:

🇨🇳 China’s economy grew 0.4% in the second quarter from a year earlier, the slowest pace since the Wuhan outbreak in 2020. https://bloom.bg/3Prk0bZ

📱 Regulators are poised to extract about $1 billion in fines from the five biggest US investment banks for failing to monitor employees using unauthorized messaging apps. https://bloom.bg/3Rzt5Bg

🏜️ What does $500 billion build in the Saudi desert? Crown Prince Mohammed bin Salman’s project involves turning an expanse the size of Belgium into a high-tech city-region with a ski resort and swim lanes for commuters. It’s going great…for the consultants. https://bloom.bg/3Pq1hxq

Here’s what we’re following right now:

🧯 With Italy on the brink of chaos, Prime Minister Mario Draghi has less than a week to forge some difficult compromises with the populists in his government that have reluctantly backed him for the past 18 months. https://bloom.bg/3O3L3Ji

🪙 When FBI agents knocked on the door of his Brooklyn, New York, home in August 2018, trader John Edmonds told them he didn’t know anything about gold and silver price manipulation at JPMorgan Chase & Co. That was a lie, he admitted Thursday. https://bloom.bg/3Oohoed

💸 The European Union is falling behind on its high-profile promises to deliver a substantial aid package to Ukraine at the same time the bloc is confronting the prospect of severe economic pain at home. https://bloom.bg/3P9zamA

Hello, here's what we're reading:

⛔️ “It's just easier to put China aside." The country is a pariah for global investors, who point to one key reason why: President Xi Jinping's policies. https://bloom.bg/3uW8BZY

💵 The US dollar’s gain is the world’s pain — and based on its current trajectory, there may a whole lot more discomfort ahead. This could be the start of a dollar “doom loop” like no other. https://bloom.bg/3o8R50D

👀 And as a recession looms over markets, here’s what Wall Street heavy hitters say are the next big risks. https://bloom.bg/3yNgiTt

Here’s what we’re following right now:

🌡️ Temperatures in London and the south of England might hit a record-setting 40° Celsius (104° Fahrenheit) this week, hotter than the forecast in Madrid, Rome or Marseille. The English may have to get used to the sweltering heat. https://bloom.bg/3ogdBVi

📈 GSK Plc’s consumer-health unit Haleon begins trading in London on Monday, marking one of the biggest-ever spinoffs in British corporate history. https://bloom.bg/3zaGo47

🪖 Russian Defense Minister Sergei Shoigu has ordered part of his forces to focus on destroying Ukraine’s long-range missile and artillery systems during a visit to troops in occupied territory. https://bloom.bg/3IMM47J

✉️ Top European leaders have left Chinese President Xi Jinping hanging over an invitation to meet him in Beijing later this year, the SCMP reports. https://bloom.bg/3B0vuPD

💸 All the while, thousands of wealthy Chinese worth around $48 billion are desperate to leave. But it's going to be a tough way out. https://bloom.bg/3Pj4iA2

🏟️ The best restaurant in the world is inside a soccer stadium. Here are 99 others you should try right now. https://bloom.bg/3AXhnL5

Here’s what we’re following right now:

☀️ Temperatures in the UK rose above 40 degrees Celsius (104 degrees Fahrenheit) for the first time as a potentially deadly heat wave nears a peak on Tuesday. https://bloom.bg/3aNTOK1

📈 The European Central Bank may consider raising interest rates on Thursday by double the quarter-point it outlined just last month because of the worsening inflation backdrop, according to people familiar with the situation. https://bloom.bg/3OcHuk4

💰 The owners of some UK energy suppliers that collapsed within the past year are set to walk away with payouts reaching tens of millions of pounds at the same time every household in the country is footing the bill for those failures. https://bloom.bg/3aMzg4u

🤝 Henry Kissinger, the former US Secretary of State who helped re-establish US-China ties in the 1970s, is warning Biden against endless confrontation with Beijing. https://bloom.bg/3cgxokO

🛒 Sam Bankman-Fried, the wunderkind quant-turned-crypto billionaire, is turning the industry's $2 trillion rout into a buying opportunity. https://bloom.bg/3PnHn6y

🔎 After years of bulking up, the tech industry is bracing for recession. From Apple to Google, we're tracking companies that are slowing down hiring or laying off staff. https://bloom.bg/3OtcOLK