Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Chancellor of the Exchequer Rachel Reeves will highlight plans to spur homeownership by easing access to mortgages in her flagship annual address to the City of London, a key moment for Britain’s finance minister as she seeks to bounce back from a rocky period that included a market-moving tearful appearance in the House of Commons.

(2) The UK economy is showing more signs of rebounding from its recent slump, with a jump in June retail sales adding to evidence of a strong pick-up in activity seen in other leading indicators.

(3) China’s economic growth exceeded expectations in the second quarter, but strong exports to markets outside the US masked deepening pressure caused by weak consumer demand at home.

(4) Nvidia Corp. plans to resume sales of its H20 AI chip to China after securing Washington’s assurances that such shipments would get approved, a dramatic reversal from the Trump administration’s earlier stance.

(5) US President Donald Trump threatened to impose stiff financial penalties on Russia if it does not end hostilities with Ukraine even as he pledged fresh weapons supplies for Kyiv.

(6) The European Union has finalized a second list of countermeasures to target US goods worth €72 billion ($84 billion), including Boeing Co. aircraft, automobiles and bourbon if it decides to retaliate as transatlantic trade tensions intensify.

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