Markets & Debt: Record German bond sales are pushing euro-area yields to multi-year highs, with investors citing heavy borrowing needs amid the Iran-war backdrop. Euro-Area Growth: A flash PMI shows euro zone business activity growing fastest since November, helped by stronger new orders and a manufacturing rebound. AI Valuations: ECB economists warn that AI-driven stock-market exuberance looks set for a correction, even if the technology ultimately delivers. Energy & Oil: Oil prices rise again as Hormuz reopening hopes fade, keeping inflation worries alive. Geopolitics & Sanctions: The US escalates “economic warfare” against Iran, while Iran says it will withstand pressure. EU Politics: Several European leaders condemn Israel’s E1 West Bank settlement expansion plan. Latvia-Russia Trade: Latvia starts publicly naming firms trading with Russia and Belarus and seeks EU support to cover the costs of cutting ties. UK Economy: Britain’s retail sales fell in July despite hot weather and the World Cup boosting food and drink. Business Deals: Monte dei Paschi launches €34bn counter-bids in Italy’s banking M&A chess game. Circular Economy Trade: Finland highlights India-EU FTA momentum and circular-economy cooperation at ICEF2026. Corporate Earnings: Implantica reports Q2 progress and FDA approval milestone for RefluxStop; Bavarian Nordic upgrades guidance on strong Travel Health demand.