It's gorgeous. 🌍

It’s gorgeous. The words of billionaire Jared Isaacman as he peered out of the Space X, Polaris Dawn capsule, looking back at Earth last week - some believe he was referring to the coastline between Blackpool and Morecambe Bay. The capsule landed back safely in the Gulf of Mexico yesterday, after five days in orbit.

Isaacman didn’t disclose the cost of the mission, thought to be hundreds of millions of dollars. Our best hope of joining their next trip would be if you scrolled to the very bottom of this email, copied your individual Teapot referral link, and sent it to all of your friends.

MARKETS

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PROJECT WATCH

🔌 Balfour Beatty win £363m contract to replace East Anglia power lines. Read more

🛤️ Amey, Bam and Arup win £800m Transpennine rail work. Read more

ECONOMY & FINANCE

Economy growth takes a tea break
The UK economy didn’t turn any heads in July, maintaining a flatline status, according to figures published by the Office for National Statistics. Gross domestic product (GDP) disappointed, showing no growth and falling short of the 0.2% forecasted by economists—a bit of a bad hair day for anyone rooting for economic upturn, continuing the trend from June.

The services sector, which ought to be bursting with life, eked out a meagre 0.1% growth. Other sectors failed to join the party either: production fell by 0.8%, and construction stumbled with a 0.4% dip. It's as drab as the summer we’ve just had.

Over the three months leading up to July, the economy managed a modest growth of 0.5%, falling short of both the 0.6% seen in the preceding quarter and economist expectations. ONS Director of Economic Statistics, Liz McKeown, noted the zero growth for two consecutive months but signalled that the services sector had some long-term strength. Small wins, eh?

John Lewis aim higher
John Lewis' new boss claims "the buzz is back" as the company prepares for notably higher profits this year. After a dreary spell of downturns, the retailer and Waitrose owner adopts a bullish stance, reducing losses in the first half of its financial year.

Nish Kankiwala, the chief executive, reports that customers responded enthusiastically to last week’s reinstatement of the ‘never knowingly undersold’ pledge. His declaration comes as the group’s 26-week losses to 27th July shrank to £30m from last year’s £59m, thanks to cost-cutting measures, including 300 job cuts.

The group's sales climbed 2% to £5.9bn, with Waitrose contributing a 5% increase to £3.9bn. Despite this, John Lewis department stores experienced a 3% sales drop to £2bn due to customers tightening their belts on big-ticket items.

Departing chairman Sharon White appears vindicated as the 95-year-old employee-owned group forecasts "significantly higher profit" for the year compared to last year. While facing competition from a rejuvenated Marks & Spencer, John Lewis is offering more third-party brands, recently signing Waterstones and Trinny London.

POLITICS

Starmer and Biden play 'Guess Who' with Putin
Prime Minister Keir Starmer jetted off to Washington for "productive" talks with President Biden, hoping to steer the Ukraine strategy toward a more assertive stance. But if Starmer was angling for the green light to let Ukraine fire long-range missiles into Russia, he left empty-handed. The discussions focused on "strategy", a diplomatic way of saying, "We're not making any big moves today". Meanwhile, Putin’s been making his own noise, warning that allowing Ukraine to strike Russian territory would be seen as direct NATO involvement. The comedy duo also tackled concerns about Iran and North Korea supplying weapons to Russia.

While the world waits for the next move, Moscow expelled six British diplomats on espionage charges, because what's international diplomacy without a bit of cloak-and-dagger drama? For now, Biden and Starmer remain tight-lipped about any changes in policy, leaving the question of long-range missiles hanging in the air like... well, a drone over Ukraine.

Pensioners left in the cold with the government's frosty reception
Winter is coming, and it's not looking warm for 780,000 pensioners who are set to miss out on the winter fuel allowance. The Department for Work and Pensions (DWP) estimates many won’t apply for pension credit, leaving them ineligible for the payment. The government says it’s not legally required to assess the full impact of the policy—a bit of a chilly response, wouldn’t you say? Opposition parties are outraged, accusing the government of quietly turning down the thermostat on some of the country’s most vulnerable. And while Number 10 insists mitigations are in place, one can’t help but wonder if they mean an extra blanket.

Wardrobe malfunction for Starmer
Prime Minister Starmer may have broken parliamentary rules by not declaring gifts to his wife from Labour donor Lord Waheed Alli. We’re talking about a shopping spree—complete with personal shopper and alterations—both before and after the election. The PM has since scrambled to update the record, but the Conservatives are demanding a full investigation into this "serious breach". It's not Starmer's first brush with the rule book; he was previously found tardy in declaring eight other interests.

The great school smartphone smackdown
In a bid to reclaim classrooms from the clutches of TikTok and Snapchat, the Ormiston Academies Trust is banning mobile phones for 35,000 students. The aim? To reduce distractions and improve mental health. Some parents are cheering from the sidelines, while others are waving red flags, calling the ban "dangerous and irresponsible". What if little Timmy can't call home when the bus doesn’t show up? On the other side, school authorities argue that phones are more of a danger than a lifeline, making children targets for theft. It’s the age-old debate: technology as a tool or a troublemaker? The schools seem to have cast their vote; now, the jury of public opinion is out.

ACROSS THE POND

Boeing turbulence, as workers strike
Boeing staff have gone on strike for the first time since the 2008 financial crash, adding to the turbulence already besieging the aerospace giant. Over 30,000 employees are participating in industrial action, walking out after rejecting a proposed 25% pay rise over four years—a deal that union leaders hailed as their best yet.

The strike, which commenced on Friday following a vote where 95% of union members rejected the contract, could cost Boeing a staggering $1.5bn (£1.14bn) for a 30-day period. For context, the rejected agreement would have cost Boeing a comparatively modest $900m (£685.9m).

Workers were offered a 25% pay increase, although unions had demanded a 40% uplift, with lower-paid staff set to gain the most. In the rejected proposal, 7,500 employees would have seen pay rises of 45%, while 5,000 others would have enjoyed a 53% boost. Historical concessions like lost pension benefits and the relocation of the 787 Dreamliner’s final assembly to a non-union factory seemed to stoke the flames of discontent.

The new CEO, Kelly Ortberg, has been thrust into these choppy waters mere months into his tenure, with federal investigations and a $60bn (£45.7bn) debt pile adding to the company’s woes. Striking workers have compounded difficulties in meeting production targets, an issue underlined by Boeing's ongoing struggle to deliver 300 planes ordered by Ryanair.

Two worshipped figures weigh in on the election
Pope Francis, 87, has taken a swipe at both Donald Trump and Kamala Harris, telling American Catholics to pick the "lesser evil" in the upcoming US presidential election. Comparing abortion to “assassination,” the Pope condemned Trump's immigration plans and Harris’s support for abortion rights.

The pontiff, on his flight back to Rome from Singapore, described not welcoming migrants as a “grave” sin and emphasised the moral dilemma voters face. He didn’t name names but clearly referenced both candidates, underscoring that Catholics must participate in the election, urging, “You must vote.”

Another religious leader, Taylor Swift, gave her two cents worth after Wednesday’s debate. Taylor announced she will be voting for Kamala Harris, on behalf of all “childless cat ladies”, a phrase coined by Donald himself. Donald’s response - announcing he hates Taylor Swift, via a post on his own Truth Social.

TECH

Space: The final (commercial) frontier?
Jared Isaacman, the billionaire entrepreneur with a penchant for space adventures, has just completed the first-ever private spacewalk with SpaceX. Floating miles above Earth, tethered only by a thin cord, Isaacman and SpaceX engineer Sarah Gillis took a stroll into the cosmos, becoming the 264th and 265th people to perform an EVA (extra-vehicular activity). This wasn't just for the thrill—SpaceX used this mission to test their next-generation spacesuits, eyeing future Mars missions.

Their five-day journey, with two others aboard the Crew Dragon capsule, reached a peak altitude of 875 miles, making it the furthest humans have been from Earth since the Apollo days. There was even time for a classical concert performed with orchestras around planet Earth, with the ex-violinist turned SpaceX engineer giving an out-of-this-world show (yes, it was one of the crew). While they didn't land on the Moon this time, the team did achieve a historic splashdown in the Gulf of Mexico, with SpaceX proudly announcing on X, "Welcome back to Earth". It's one small step for a billionaire, one giant leap for space tourism.

AI's new brain: OpenAI's 'o1' model changes the game
OpenAI has released its newest generative AI model, simply dubbed 'o1.' No, it's not the existential AGI we keep hearing about, but it's an intriguing leap forward in the realm of AI. Interestingly, 'o1' employs a "chain-of-thought" approach—essentially a more sophisticated way for AI to reason through complex problems. In layman’s terms, it gives itself more time to think (maybe I should try that). But here's the twist: OpenAI decided to keep this thought process under wraps, making it the AI equivalent of a magician not revealing their tricks. This decision has sparked debate among AI enthusiasts and purists alike. Should we trust an AI we can't fully scrutinize? For now, 'o1' is an exciting, albeit experimental, glimpse into the future of machine learning.

Teen arrested for TfL cyber hack
All aboard! A 17-year-old has been arrested in connection with a cyberattack on Transport for London (TfL) that potentially exposed the bank details and personal information of around 5,000 customers. The hacker, nabbed in Walsall, allegedly accessed data including names, email addresses, and even Oyster card refund information. TfL's response has been swift, working closely with the National Crime Agency (NCA) and the National Cyber Security Centre to contain the situation. While TfL insists the impact on customers has been "very little", affected individuals will be contacted directly. The NCA warns that attacks on public infrastructure can have "severe consequences," highlighting the ever-present risk of cyber threats in our increasingly digital world.

The lighter than air battery powered plane
In a lab somewhere in Sweden, a group of scientists at Chalmers University of Technology may have cracked the code that could revolutionise electric aviation. They've developed an ultra-strong, lightweight carbon fibre battery that not only packs a punch in terms of energy density but can also act as a load-bearing structure. Translation: this battery is so sturdy it can replace parts of a vehicle's frame, potentially slashing weight and increasing range. Imagine electric planes that can finally take off without needing to be all battery and no passengers. The new design could also see laptops that weigh half as much and mobile phones as thin as a credit card. Although it has only a quarter of the capacity of a lithium-ion battery, its multifunctionality could be a game-changer. So, next time someone asks if pigs—or in this case, electric planes—can fly, tell them to talk to the Swedes.

WORLD

The Hague draws the line on fossil fuel ads
In an audacious move, The Hague has become the world’s first city to ban advertisements promoting fossil fuel products and other high-carbon-footprint services. Starting next year, say goodbye to ads for petrol, diesel, aviation, and cruise ships on the streets of this Dutch city. This legislation, hailed as legally binding, comes after the UN chief called for such measures. It's not just a flash-in-the-pan protest; it's law, sparking a wave of similar efforts in cities like Toronto and Graz. Edinburgh made a similar move back in May but through voluntary council agreements rather than a legal hammer. With fossil fuel advertising being likened to tobacco promotions, this bold step could be the catalyst for a global shift in how we confront climate change.

Ukraine-Russia: Prisoners return home amid ongoing conflict
In a rare moment of unity in a war-torn landscape, Ukraine and Russia exchanged 206 prisoners of war, thanks to mediation by the United Arab Emirates. For Ukraine, President Zelensky welcomed back personnel from various branches of the military, including border guards and police, who had been captured defending regions like Kyiv and Mariupol. Russia, meanwhile, regained 103 servicemen from the Kursk incursion. The UAE has positioned itself as a neutral mediator in this conflict, facilitating previous swaps as well.

A severed statue splits an Australian city
In Hobart, Tasmania, the debate over historical reckoning has taken a literal turn. The bronze statue of William Crowther, a surgeon turned premier accused of mutilating the body of an Aboriginal leader in the 19th century, was unceremoniously severed at the ankles. While Crowther was once celebrated for his contributions to medicine and politics, he allegedly broke into a morgue and stole the skull of William Lanne, the "last man" of the Palawa people, sparking outrage that reverberates to this day.

The statue's removal—or rather, its sudden amputation—has sparked intense debate. Some argue that Crowther's statue is an important piece of history, warts and all. Others see it as a symbol of colonial brutality. Hobart's Lord Mayor said the council voted to remove the statue as an act of reconciliation, but it seems Hobart’s residents took matters into their own hands, leaving only the severed feet as a stark reminder of this ongoing cultural reckoning.

The world’s smelliest fruit and your coffee price hike
If you thought £5 for a cup of coffee was steep, brace yourselves. A "perfect storm" of economic and environmental factors is pushing coffee prices to dizzying heights, with £5 in London or $7 in New York becoming an all-too-real possibility. A frost in Brazil wiped out coffee crops in 2021, shifting demand to Vietnam, the world's top producer of Robusta beans. However, Vietnamese farmers, facing a severe drought, have now turned their attention to the durian fruit—a smelly but highly lucrative commodity popular in China.

As Vietnamese farmers pivot to this pungent produce, Robusta coffee exports have plummeted. Stocks are near depletion, pushing the prices of both Robusta and Arabica beans to near-record highs. While some coffee aficionados argue that inflation is the true culprit, the scarcity of beans isn't helping matters. For now, coffee drinkers worldwide may need to brace for a bitter financial brew in their morning cups.

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Cuppa Chat Cheat Sheet

🤘🥊 Perry Farrell of Jane's Addiction punched guitarist Dave Navarro during a Boston gig, ending the show abruptly. Farrell's wife cited his frustration over being drowned out and health issues as reasons for the altercation.

⚽📱 Cristiano Ronaldo hits 1 billion total followers across Instagram, Facebook, Twitter, YouTube, Weibo, and Kuaishou, making him the first person to reach this milestone.

🎨🚔 Two men, Larry Fraser and James Love, have been charged with burglary after stealing Banksy's "Girl With Balloon" from a London gallery. The £270,000 artwork has been recovered and will be returned to the gallery.

🚢⏳ Belfast's Harland & Wolff shipyard, famous for building the Titanic, faces imminent financial collapse, with cash expected to run out by the end of this month.

💊⚕️ The number of people taking ADHD medication in England has nearly trebled since 2015, creating an eight-year backlog on diagnostic waiting lists. Experts suggest the rise is due to better recognition, though ADHD prevalence remains steady at 3-4% of adults.

🏎️🏁 Oscar Piastri clinched his second career win at the Azerbaijan Grand Prix, while Lando Norris reduced Max Verstappen's championship lead by three points. McLaren now leads the constructors' championship by 20 points over Red Bull after a dramatic race concluded under a virtual safety car.

🚗⚠️ Lee Waters, former Welsh transport minister, admitted errors in implementing Wales' controversial default 20mph speed limit, suggesting "more common sense" should have been applied. Despite backlash, the policy reduced speeds and saved lives, with some roads set to revert to 30mph following a review.

⚖️🎵 Former US President Donald Trump is liable for damages to Eddy Grant for using "Electric Avenue" without permission in a 2020 campaign video. A federal judge ruled Trump breached Grant's copyright, rejecting fair use arguments.

🥋🛡️ Merab Dvalishvili upsets Sean O'Malley to win the bantamweight title in a unanimous-decision win at UFC Noche in Las Vegas, extending his win streak to 11. Valentina Shevchenko regains the flyweight title with a dominant unanimous-decision victory over Alexa Grasso, making history in the first women's trilogy bout in the UFC.

⚽🇬🇧 UEFA has warned that England could face exclusion from the 2028 European Championship due to concerns over a planned independent football regulator causing potential “government interference”. While the UK government argues the regulator will enhance the financial sustainability of clubs, UEFA emphasizes the need to maintain the autonomy of national football associations.

🎾🇬🇧 Britain's Sonay Kartal reaches her first WTA final at the Jasmin Open in Tunisia, facing Slovakia's Rebecca Šramková. The 22-year-old qualifier will achieve a new career-high ranking by entering the top 120.