A massive chemical explosion in Beirut leaves more than a hundred dead and thousands wounded. President Trump suggests the blast may have been intentional. Chinese service sector growth retreats from a decade-high, as new localised lockdowns blunt the country’s post-pandemic recovery. In media news, shares in Disney rally despite a poor Q2, as investors pin hopes on a new streaming strategy potentially offsetting theme park losses of 85 per cent on the year. And Virgin Atlantic files for bankruptcy protection in the U.S. as it scrambles to secure a rescue plan to ward off creditors.

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