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Putin, Kim and Xi are meeting in China: BBC correspondents explain why

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Russia’s leader Vladimir Putin and North Korea’s Kim Jong Un are standing shoulder-to-shoulder with Chinese president Xi Jinping in Beijing at a military parade marking 80 years since the end of World War II on 3 September.

It will be the first time these three leaders are meeting in public together.

The BBC’s Laura Bicker in China, Steve Rosenberg in Moscow, and Jean Mackenzie in Seoul explain everything you need to know about the meeting, and why it matters.

Vance to visit Minneapolis after Catholic school shooting

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Vice President Vance will visit Minneapolis on Wednesday following the shooting last week at Annunciation Catholic School. 

Vance will be joined by second lady Usha Vance, and the couple will pay their respects to victims and “hold a series of private meetings to convey condolences to the families of those affected by the tragedy,” his office announced on Tuesday. 

A shooter last week killed two students, aged 8 and 10, and injured 17 other people in an attack on a morning Mass at the Catholic school in southern Minneapolis. 

Police identified the suspect as 23-year-old Robin Westman, who they said barricaded the church door during the shooting, then died of a self-inflicted gunshot wound. 

The vice president’s office didn’t say if he would be meeting with local officials on the ground. President Trump called Minnesota Gov. Tim Walz following the shooting and ordered American flags to be flown at half-staff. 

2025 college football SP+ rankings for all 136 FBS teams

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Below are the current SP+ rankings, last updated after the games of Sept. 1, 2025.

What is SP+? In a single sentence, it’s a tempo- and opponent-adjusted measure of college football efficiency that I originally created at Football Outsiders in 2008. SP+ is intended to be predictive and forward-facing. It is not a résumé ranking (hence the lack of unbeatens near the top), so it does not automatically give credit for big wins or particularly brave scheduling — no good predictive system does.

It is simply a measure of the most sustainable and predictable aspects of football. If you’re lucky or unimpressive in a win, your rating will probably fall. If you’re strong and unlucky in a loss, it will probably rise.

Note: Early in the season, ratings are based primarily on preseason projections, including special teams ratings. Because priors remain rather predictive over the course of the season, preseason numbers are very slowly phased out from week to week.

Within this page, we will also update the SP+ strength of schedule and Résumé SP+ ratings each week. Obviously these ratings aren’t of much use early in a given season, but their relevance will increase as the race for College Football Playoff spots becomes more prevalent. Here’s how they’re defined.

SP+ strength of schedule is based on the expected win percentage an average top-five team (per SP+) would generate against each team’s schedule. An SOS rating of .850, for instance, signifies that the average top-five team would be expected to win an average of 85.0% of its games, or 10.2 projected wins over a 12-game schedule. A lower expected win percentage signifies a harder schedule, so the lowest SOS rating ranks first.

Résumé SP+ compares each team’s scoring margin (capped at 50 points for a given game) to what an average top-five team would be expected to generate against a given opponent. If a top-five opponent would be projected to win a game by 10.0 points, and a team wins by 15 instead, that’s a +5.0 rating for that game. By the end of the season, only a handful of teams will have a positive rating because clearing a top-five bar is obviously very difficult. (Note: A seven-point penalty for losses is applied to the rating as well, meaning your rating has seven points deducted for each loss.)

Nestlé dismisses CEO after an investigation into a relationship with a subordinate

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Swiss food giant Nestlé said Monday it dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate.

The maker of Nescafé drinks and Purina pet food said in a statement the dismissal was effective immediately. An investigation found the undisclosed romantic relationship with a direct subordinate violated Nestlé’s code of conduct.

Freixe, who had been CEO for a year, will be replaced by Philipp Navratil, a longtime Nestlé executive.

“This was a necessary decision,” said Chairman Paul Bulcke. “Nestlé’s values and governance are strong foundations of our company.”

The company didn’t give any other details about the investigation.

Freixe had been with Nestlé since 1986, holding roles around the world. When Nestlé revamped its geographic structure in January 2022, Freixe became CEO of Zone Latin America. In August 2024, he was tapped to replace then-CEO Mark Schneider in the top role, and started Sept. 1, 2024.

Navratil started his career with Nestlé in 2001 as an internal auditor and served in a variety of roles in Central America. In 2020, he joined Nestlé’s Coffee Strategic Business Unit, and in 2024, he became CEO of Nestlé’s Nespresso division.

It’s the latest in a string of personnel changes for the company. In June, Bulcke, a former CEO who has been chairman of the board since 2017, said he wouldn’t stand for reelection in 2026. And in April, Steve Presley, an executive vice president and CEO of Zone Americas, said he was retiring after almost 30 years of service.

Based in Vevey, Switzerland, Nestlé has been facing headwinds like other food makers, including rising commodity costs and the negative impact of tariffs. It said in July it offset higher coffee and cocoa-related costs with price increases.

Sue Gray questions working class-only civil service internship

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Sir Keir Starmer’s former chief of staff Baroness Sue Gray has challenged the government’s plan to limit a civil service internship scheme to working-class students.

The Labour peer questioned the “evidence base” behind last month’s decision to restrict a Whitehall internship to students from “lower socio-economic backgrounds”.

The government argued the change will bring in “more working-class young people” widening the talent pool for a civil service that will “truly reflect the country”.

But Baroness Gray told peers she was “from the most working class of backgrounds” but had “learned a lot from being around people from different walks of life”.

From October 2026, Whitehall’s main internship scheme designed to attract university students to the civil service will now only be available for students from “lower socio-economic backgrounds” – judged by what jobs their parents did when they were 14.

Those who are successful on the internship will then be prioritised for entry to the Fast Stream, the main graduate programme for entry to the civil service.

But Baroness Gray said: “As a former civil servant from the most working class of backgrounds, and I’m sure there are very good intentions here, I would have found it really difficult when I joined the civil service to not have a wider group that I actually was exposed to, and I learned so much from that.

“I would like to know what the evidence base is for actually reaching this conclusion, because I do think it’s good intentioned, but I think there are other ways that the civil service can be opened up as well.”

Labour minister Baroness Anderson of Stoke-on-Trent said this was one of the “rare” occasions she “disagreed” with Baroness Gray.

“This is not about stopping the civil service being a meritocracy. It is ensuring that the meritocracy is available to everyone, regardless of where you were born,” she said

Earlier, Tory shadow Cabinet Office minister Baroness Finn pointed out that the current rules made clear a person’s selection for work in the civil service “must be on merit on the basis of fair and open competition”.

She said: “The changes proposed by the government to the summer internship programme would allow the child of a mechanic, an electrician or even possibly a toolmaker to apply, but discriminate against the child of a roofer, a taxi driver or a nurse, who would be deemed ineligible.

“Quite apart from dramatically reducing the range of talent, does she really believe that this is still a fair and open and indeed a sensible process?”

Baroness Gray, the daughter of Irish immigrants in 1950s Tottenham, grew up with a salesman father and a barmaid mother.

She joined the civil service straight from school after her father died when she was a teenager.

She became a household name as the Partygate investigator, and her critical report into Downing Street lockdown gatherings contributed to Boris Johnson’s downfall in 2022.

She was poached from the civil service by Labour to lead Sir Keir Starmer’s office as the party prepared for government ahead of the 2024 election, but infighting forced her out within 100 days of victory.

Since joining the House of Lords she has used her speeches to warn about proposed cuts to the civil service, criticising those who call public servants “pen pushers”.

Making her maiden speech in the House of Lords, Baroness Gray said that the UK needs “public servants to succeed”.

House GOP funding chief pushes for stopgap funding bill into November

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House Appropriations Committee Chair Tom Cole (R-Okla.) said Tuesday that he’s pushing for a stopgap that punts this month’s threat of a government shutdown into November to buy time for funding talks.

Congress has until Sept. 30 to strike a deal to keep the government funded or risk its first shutdown in years. 

Asked for his preferred timeline for a stopgap, which would freeze funding at current levels while lawmakers negotiate a bill for fiscal 2026, Cole said Tuesday that he wants to see a stopgap “into November.”

Cole said lawmakers are specifically discussing kicking the deadline into as early as Nov. 6, but added, “The latest we would go would be pre-Thanksgiving, like the 20th.”

“My aim is to try to get to a negotiated agreement on all 12 bills,” he said, referring to the 12 annual government funding bills Congress is working to craft. “That’s what [Senate Appropriations Chair Susan Collins (R-Maine)] and I are trying to work together on, and what we think the best thing is to begin the process and hope these other things resolve themselves over the course of discussion.”

Cole also signaled optimism about a potential deal that would greenlight several full-year funding bills for fiscal 2026, which begins Oct. 1, and use a stopgap to cover the rest, arguing such a move could help “get some momentum going” on funding. 

But Congress faces a tight crunch to hash out a deal, and tensions have risen in the past week in light of President Trump’s so-called pocket rescissions effort. The Trump administration is using the tactic to cancel about $5 billion in funding for the State Department and the U.S. Agency for International Development without approval from Congress.

Democrats have come out strongly against the move, arguing it’s illegal and undermines already fragile bipartisan funding negotiations to fund the government. Some Republican appropriators have also criticized the effort as “unlawful,” although the administration has defended the tactic as legal. 

Cole told reporters on Tuesday that the effort by the administration is a “legitimate concern,” but he also argued the “legal case here really is unclear.”

“I would prefer not to do them. I would always prefer a congressional vote. I don’t have any problem with a rescission as long as Congress votes,” he said.

But he added, “It’s not clear what the law is.”

Emily Brooks contributed.

European regulator says tokenised stocks risk ‘investor misunderstanding’

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By Elizabeth Howcroft

PARIS (Reuters) -Blockchain-based assets which provide exposure to equities could lead to “investor misunderstanding”, as they typically do not make the buyer a shareholder in the underlying company, the European Union’s securities watchdog said on Monday.

So-called tokenised stocks are a type of blockchain-based asset which are linked to the price of a share in a public company. Broker Robinhood has launched tokenised stocks in the EU while crypto exchange Coinbase is also making a push into the nascent sector.

The European Securities and Markets Authority (ESMA) executive director, Natasha Cazenave, said at a conference in Dubrovnik that several fintech firms had developed offerings that give investors exposure to listed shares or blockchain-based derivatives backed by corporate stock that is held through special purpose vehicles. She did not name individual companies.

“These tokenised instruments can provide always-on access and fractionalisation but typically do not confer shareholder rights,” Cazenave said in a speech published on ESMA’s website.

“…this can create a specific risk of investor misunderstanding and underlines the need for clear communication and safeguards,” she said.

ESMA’s concerns echo the World Federation of Exchanges, which last week called on securities regulators to clamp down on tokenised stocks, saying that they create new risks for investors and could harm market integrity.

Crypto enthusiasts say tokenisation will change the underlying infrastructure of financial markets, by allowing assets such as bank deposits, stocks, bonds, funds and even real estate to be traded as blockchain-based tokens.

Cazenave said tokenisation could bring efficiency gains but “most tokenisation initiatives remain small and largely illiquid” so far.

(Reporting by Elizabeth Howcroft; Editing by Tommy Reggiori Wilkes and Ros Russell)

‘Fury’ over Father Ted creator arrest and ‘nervy bond markets’

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The headline on the front page of the Metro reads: "Father Ted creator's fury at arrest".

Father Ted creator Graham Linehan’s arrest and skyrocketing borrowing costs dominate Wednesday’s papers. The Metro leads with Linehan’s “fury” after he was arrested at Heathrow Airport on suspicion of inciting violence in relation to social media posts. The paper says Linehan was arrested by five officers after arriving on a flight from the US, and he later wrote in an online Substack article that he was taken to hospital after officials became concerned for his health.

The headline on the front page of the Times reads: "Reeves sees borrowing costs reach 27-year high".

The Times reports on what it calls the public “backlash” sparked by Linehan’s arrest. The paper says Sir Keir Starmer has told the police to prioritise serious crimes, while Conservative leader Kemi Badenoch criticised the arrest as a political act rather than a matter of policing. Also looming large on the front page is its headline saying borrowing costs have hit a 27-year high, putting further “pressure” on Chancellor Rachel Reeves.

The headline on the front page of the Daily Mail reads: "When did Britain become North Korea?"

“When did Britain become North Korea?” asks the Daily Mail. The paper lists a series of events on Tuesday including “nervy bond markets” and the arrest of Father Ted’s creator as signs of “another day in Starmer’s socialist utopia”. Sharing the top spot is a picture of Angela Rayner’s return to Downing Street following Tory criticism of a flat purchase she made in Hove.

The headline on the front page of the Daily Telegraph reads: "Starmer attacks Met over trans tweet arrest".

The PM “attacks Met over trans tweet arrest” is the Daily Telegraph’s take on Linehan’s arrest. Alongside that story, the paper reports that Sir Kier will push through welfare reforms following the reset of his No 10 team. The Telegraph says the PM is determined to overhaul the disability payment system despite opposition from Labour MPs.

The headline on the front page of the Guardian reads: "Europe's response to Gaza has been a failure, says Spanish PM".

Spanish Prime Minister Pedro Sánchez warns Europe and the West’s “double standard” over the wars in Ukraine and Gaza risk undermining its global standing, according to the Guardian. In an interview with the paper, Sánchez called Europe’s response to Gaza “a failure”, but said he was pleased other European nations were following Spain’s lead in recognising a Palestinian state.

The headline on the front page of the Sun reads: "Britain's fecked".

“Britain’s fecked” is the Sun’s blunt assessment of the Father Ted case. The paper quotes Linehan saying he was “treated like a terrorist”, and adds that Reform leader Nigel Farage will bring up the incident during a speech to the US Congress on Wednesday. The Met Police said it is “routine for officers policing airports to carry firearms” and that they were “not drawn or used at any point during the arrest”.

The headline on the front page of the i Paper reads: "Starmer plans ID cards for all to help stop UK boat migrants".

The PM is considering introducing digital ID cards for all UK citizens as a way to reduce “pull factors” that draw migrants to cross the Channel, according to the i. The paper says France has indicated that a lack of ID cards is a big incentive to migrants who can find work in the UK black economy. According to sources that spoke to the i, talks are still at an early stage but there is belief at the top of government that public debate on ID cards has shifted.

The headline on the front page of the Financial Times reads: "Reeves' leeway shrinks as pound falls and borrowing costs hit 27-year high".

North Korean leader Kim Jong Un takes “centre stage” on the Financial Times. The paper shows a smiling Kim on his private train in Pyongyang before departing for Beijing. He will join Chinese President Xi Jinping and Russian President Vladimir Putin at a military parade to mark the 80th anniversary of Japan’s formal surrender in World War Two and China’s victory.

The headline on the front page of the Daily Star reads: "What a booby!"

New Green Party leader Zack Polanski, who is a former hypnotherapist, has apologised for “giving women breast enlargements by hypnosis at his clinic”, reports the Daily Star. The paper says Polanski addressed his time as a Harley Street hypnotherapist after his win on Tuesday saying: “We are all more than one mistake.”

The headline on the front page of the Daily Express reads: "100,000 lives at risk in cancer care lottery".

Health campaigners warn that up to “100,000 cancer patients’ lives” could be endangered by being asked to travel too far for treatment, the Daily Express says. The paper features Macmillan Cancer Support saying a postcode lottery means ovarian cancer patients are missing out on the best treatment options because of where they live. It also notes an NHS spokesperson saying the health service is “working to ensure all patients get the timely, personalised cancer care they need”. Elsewhere, the “grand finale” for Downton Abbey’s Lady Mary and Countess Cora is also teased by the paper.

The headline on the front page of the Daily Mirror reads: "Pay up to go free".

Finally, the Daily Mirror reports that a British teenager on trial in Georgia for drug smuggling has been told she could walk free if she pays a hefty fine. Bella Culley has been held since May after marijuana was allegedly found in her luggage at Tbilisi airport. The paper says she is working on a plea deal with prosecutors.

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Senate GOP zeroes in on plan to end Trump nominee blockade

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Senate Republicans are zeroing in on a rule change, which would be enacted through the “nuclear option,” that would allow them to expeditiously confirm scores of President Trump’s executive branch and judicial nominees.

The Republicans are hoping to move quickly and home in on a plan on Wednesday, when they convene for a special conference meeting specifically to address the issue after weeks of discussion.

The GOP has floated a number of ideas, but the leading option would allow the upper chamber to confirm nominees en bloc if they were greenlighted by the same committee. 

The idea is based off a Democratic proposal unveiled two years ago that would allow a single vote on up to ten nominees. The nascent GOP plan is unlikely to stick to the 10 nominee figure, and could be broadened out to include nominees from multiple committees in one bloc.

“Everybody has been talking through various options. …  One of the things that that process does is empower the committee process,” said Sen. Katie Britt (R-Ala.), who is a leader of a working group tasked with navigating and figuring out a rules change, adding that the panel-centric would “make committees great again.” 

“That [idea] has potential — for sure,” Britt said.

The Wednesday conference meeting is set to take place after the Senate GOP’s weekly policy luncheon. 

The discussion comes after the working group — Sens. James Lankford (R-Okla.), Ted Budd (R-N.C.), Eric Schmitt (R-Mo.), Ron Johnson (R-Wis.) and Britt — huddled in Senate Majority Leader John Thune’s (R-S.D.) office on Tuesday, ahead of the weekly leadership meeting, on the potential rule change. 

Any change could be approved by a majority of senators, meaning Republicans can make a change unilaterally. Making a rule change on a partisan basis with a simple majority vote, however, is known as the “nuclear option” because it is seen as so detrimental to bipartisanship in the chamber.

Britt noted that she has been discussing potential changes with Democrats as well. 

GOP members have also considered other ideas, including shrinking post-cloture debate time from two hours to mere minutes, making some nominations non-debatable and curtailing the amount of procedural votes required for a nominee.

Republicans are also refusing to rule out recess appointments. 

But the “en bloc” option has been gaining steam as the conference’s goal in this push is to confirm as many nominees as quickly as possible. 

“That is where the water seems to be flowing,” one Senate GOP aide said. 

Republicans have been beating the drum about potential rule changes since early July, as Democrats throw up procedural hurdles for even non-controversial nominees and refuse to allow any to be confirm via unanimous consent or voice vote, marking a major break with tradition.

As Senate Majority Whip John Barrasso (R-Wyo.) noted in a recent op-ed, senators confirmed roughly 90 percent of nominations made by former Presidents George W. Bush and Obama via voice vote or unanimous consent. That number dropped to 65 percent for Trump’s first term and 57 percent for former President Biden.

Secretary of State Marco Rubio also has been the lone nominee who did not face a filibuster, meaning that Republicans have been forced to use up all of the clock for nominees. That includes lower-level choices that are not usually subjected to the time consuming process. 

“I think we’re dealing with unprecedented obstruction. It’s never been this way,” Schmitt said. “We’re ready to move forward and then, if necessary, recess appointments are always an option.”

“There’s just so many nominations or types of nominations that never were ever roll call voted on, let alone filibustered. This is all about restoring balance to where the Senate always was,” he continued. “If the Democrats are going to continue to do this obstruction out of Trump derangement syndrome, then maybe we need some medicine.”

The working group spent time throughout the August break talking to members in an attempt to plan a pathway forward after Schumer and top Republicans were unable to strike a deal on a nominations package in the waning hours before the month-long recess. Trump panned Schumer for wanting too much in return, with the New York Democrat declaring victory in the battle. 

A rules alteration would mark yet another maneuver by a Senate majority over the past 15 years to grease the skids to confirm their preferred choices without help from the other party. Former Senate Majority Leader Harry Reid (D-Nev.) got the ball rolling in 2012 by lowering the threshold needed to approve executive branch and judicial nominations, sans Supreme Court nominees.

Former Senate Majority Leader Mitch McConnell (R-Ky.) included Supreme Court nominees in that count five years later. He also helmed the conference when it lowered the debate time for lower-level nominees from 30 hours to the current two-hour mark.

Multiple senators added that they hope a resolution will get hammered out in the coming weeks. 

“As soon as possible,” Sen. Markwayne Mullin (R-Okla.), a Thune ally, said about the timing for implementing the rule change. “We want to get it done. I don’t think we can do something this week, but we’d love to have something done next week.”  

“We’re going to let the conference work its will,” Mullin said while previewing the Wednesday afternoon meeting. “One thing we’re really good about is talking forever. We’ve got to hear it and then we’ve got to make a call.”

How Is Arthur J. Gallagher’s Stock Performance Compared to Other Insurance Stocks?

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With a market capitalization of roughly $77.6 billion, Illinois-based Arthur J. Gallagher & Co. (AJG) is a leading international service provider that plans, designs, and administers a full suite of customized, cost-effective property/casualty insurance and risk management programs, consulting services, and third-party claims settlement across the U.S. and globally.

Companies with a valuation above $10 billion are generally considered “large-cap” stocks, and Gallagher firmly belongs in this category with a market cap well beyond that threshold. The company delivers its services in nearly 130 countries through its owned operations as well as a strong network of correspondent brokers and consultants, reinforcing its position as a global leader in the insurance and risk management space.

After reaching a 52-week high of $351.23 on Jun. 3, AJG has seen its momentum fade, with the stock sliding 13.8% from that peak. The weakness has been even more evident in recent months. Shares have tumbled nearly 11.5% over the past three months, sharply underperforming the SPDR S&P Insurance ETF’s (KIE) marginal return during the same period.

www.barchart.com
www.barchart.com

Over the 52 weeks, AJG has managed a modest 4.1% gain, with year-to-date (YTD) performance showing a stronger 6.7% climb. By comparison, the KIE has delivered a slightly higher 5.7% return over the past year but trails AJG on a YTD basis with a 4.1% gain.

To confirm the bearish price trend, AJG has slipped beneath both its 50-day and 200-day moving averages since the end of July, indicating persistent downward pressure on the stock.

www.barchart.com
www.barchart.com

On July 31, AJG reported its Q2 results, highlighting robust top-line momentum with revenue climbing 16% year-over-year and organic growth of 5.4%. The company also benefited from healthy adjusted EBITDAC margins and continued progress on acquisitions and technology-driven initiatives. However, investor excitement was somewhat muted, as adjusted EPS of $2.33 fell just short of estimates, underscoring modest earnings misses despite the company’s strong growth trajectory.

Meanwhile, AJG’s peer Aon plc (AON) has delivered a stronger showing over the past year with an 8.1% gain, outpacing Gallagher’s performance. However, in 2025, the tables have turned. Aon is up a modest 2.2% this year, trailing behind AJG’s healthier advance.