UK Chancellor Rachel Reeves gives her Mansion House speech and calls on regulators to strip back red tape in order to boost growth. In the U.S., the June inflation print comes in slightly higher as tariffs begin to affect the core CPI number with President Trump continuing to slam the Federal Reserve’s measures. In France, Prime Minister Francois Bayrou infuriates Marine Le Pen’s Rassemblement National party after proposing a €44bn tax rise package as well as slashing two public holidays from the calendar to encourage economic activity. In autos news, disappointing European demand and Chinese competition prompts Renault to cut its full-year guidance. The company has also installed finance chief Duncan Minto as interim CEO.

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