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0;width:57px' class=3D'dark-thick-line-redesign' classname=3D'dark-thick-li=
ne-redesign'>=E2=80=8C</div> </td> </tr> </tbody> </table> </td> <td>=C2=A0=
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/table><![endif]--> </td> <td align=3D'right' style=3D'vertical-align:top'>=
<!--[if (gte mso 9)|(IE)]><table border=3D"0" cellspacing=3D"0" cellpaddin=
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ze: 14px; line-height: 16px;">August 4 2026<![endif]--> <table width=3D'100=
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style=3D'margin:0;padding:0' class=3D'link-fix' classname=3D'link-fix'> <p=
style=3D'color:#000;font-family:Georgia,serif;font-size:18px;line-height:2=
8px;margin:0 0 10px 0;padding:0 0 18px 0;clear:both'>Good morning and welco=
me to White House Watch. Here=E2=80=99s what we=E2=80=99re looking at today=
:</p><ul><li><p style=3D'color:#000;font-family:Georgia,serif;font-size:18p=
x;line-height:28px;margin:0 0 10px 0;padding:0 0 18px 0;clear:both'>Todd Bl=
anche secures support of Republican holdouts</p></li><li><p style=3D'color:=
#000;font-family:Georgia,serif;font-size:18px;line-height:28px;margin:0 0 1=
0px 0;padding:0 0 18px 0;clear:both'>How a Michigan Senate race is becoming=
an A-B test for competing Democratic foreign policy platforms</p></li><li>=
<p style=3D'color:#000;font-family:Georgia,serif;font-size:18px;line-height=
:28px;margin:0 0 10px 0;padding:0 0 18px 0;clear:both'>Team America comes t=
o the rescue of the Yen. </p></li></ul><p style=3D'color:#000;font-family:G=
eorgia,serif;font-size:18px;line-height:28px;margin:0 0 10px 0;padding:0 0 =
18px 0;clear:both'>Acting attorney-general Todd Blanche has <a href=3D'http=
s://email.newsletters.ft.com/c/eJyMkctO5DoQhp_G2RWq8qViL7xAQi2xPmceoGyX6Wi6=
00zi0OLtRyBGbFnX9f--KkNfbtt7XvW-X3QM3aaWe_Gp20kzzTFEH32gSa-yXJ5bZrLVeY6AoRF=
4bh2kkQfXe1NGxFj8dM5MTUqNGiLFiE0cFy9zQm2hIJJMS7ZoGSN6cojED5p4rt3ZmZS1VzIev5=
_aH_p4qLfrdMnnMV534x6NPRl7ut_vXyVjT_W2Dl2HsadAsfmmAkjFg0eHEEMlSMSaiJlCRONO-=
_sKNggXEjbuiYzlr5zGPf0kqbG868tV1_E50uZICSmBRBcgoSUQZxV4Dk6a9Sg6T5dlHx8gQ4ld=
6zzbIu2DCbNKrzy9brd21JH3V9l-T1veDzUed9nkfJbtTd8_QWz659DPRb2oI1c7iOUA3nYGsUg=
QcPacOIjr7V-7tv90bf8v12-35KaRj2Npxj3-SO7YZN2ljuW2PreMQZKNEqAzKviqAtHXAo54jr=
b7EDFMx67br2NpWV1v0QeBVrx8HBBIiQok1yXUlJJ6mt6y_RsAAP__qojBKQ' target=3D'_bl=
ank' data-msys-sublink=3D'content-518d4dea-01b4-4030-85c1-916e91661580'>sec=
ured the backing of key Republican holdouts</a> after scrapping plans for a=
$1.8bn =E2=80=9Canti-weaponisation=E2=80=9D fund, clearing the way for his=
confirmation to the role. </p><p style=3D'color:#000;font-family:Georgia,s=
erif;font-size:18px;line-height:28px;margin:0 0 10px 0;padding:0 0 18px 0;c=
lear:both'>Republican senators Thom Tillis and John Cornyn confirmed on Mon=
day that they would vote to back the nomination after Blanche announced lat=
e on Sunday evening that the DoJ had abandoned plans to establish a fund fo=
r individuals who had suffered purported =E2=80=9Cweaponisation and lawfare=
=E2=80=9D at the hands of the US government. </p><p style=3D'color:#000;fon=
t-family:Georgia,serif;font-size:18px;line-height:28px;margin:0 0 10px 0;pa=
dding:0 0 18px 0;clear:both'>Plans to establish the fund were announced ear=
lier this year in exchange for President Donald Trump and his family droppi=
ng a $10bn lawsuit against the Internal Revenue Service over a leak of the =
president=E2=80=99s tax returns. </p><p style=3D'color:#000;font-family:Geo=
rgia,serif;font-size:18px;line-height:28px;margin:0 0 10px 0;padding:0 0 18=
px 0;clear:both'>It unleashed <a href=3D'https://email.newsletters.ft.com/c=
/eJyMkb1uJCsQRp8GMiyoggICAkvWSI7v3QcooPC0dqbH20175Ldf2fLKqeP6_c5pPOXltr2XVe=
77ReaUTfcyqs8DtBQXU0g--eC0XHm5PPdCDhp6SsaG7oynPgx35w2O0YWstal6fS5UXZWAscVOm=
RI3skyeWvANI1bQSwELZJP1Dq119CCZYhsI0QnJaE55-_3U_jDmQ7td9aWc53zdFT4qOCk43e_3=
r5KCU7utU9ap4NQppMxQDVLoxgcJpg5rTeAKAzzWiKDwtL-vBgJTdUwKn5wC-sqp8OknSRXQLi9=
XWefnSI_JZeuy4YTBZAvOMIIYigG5g7csUV-WfX6ADDUNaTFC5V4_EJDwaKRft1s_2iz7K2-_9V=
b2Q5S3O298PvP2Ju-fIDb5c8jnolEFHbZhGCgYD4MMg3Um2OgpU2Ac_V-79P9k7f8v12-3DvUsx=
7F0hY8_kjs3Xnduc7mtz73YwBkSBzPIivFN2CTfqkFHMcHwIdmgj122X8fSi-DoyQc2vXr-OMAm=
Z1dNxsGh5ZzFO_1W4G8AAAD__z_hwZw' target=3D'_blank' data-msys-sublink=3D'con=
tent-d6589a2b-365d-45e5-bf00-5ab2f243b732'>fierce bipartisan pushback</a> a=
mid concerns that it would be used to compensate Trump=E2=80=99s allies and=
supporters who faced legal charges during Joe Biden=E2=80=99s administrati=
on. </p><p style=3D'color:#000;font-family:Georgia,serif;font-size:18px;lin=
e-height:28px;margin:0 0 10px 0;padding:0 0 18px 0;clear:both'>While Blanch=
e told lawmakers in June that the department had abandoned plans to establi=
sh the fund, Cornyn and Tillis =E2=80=94 neither of whom is seeking re-elec=
tion =E2=80=94 sought written assurances from Blanche that it would be drop=
ped.</p><p style=3D'color:#000;font-family:Georgia,serif;font-size:18px;lin=
e-height:28px;margin:0 0 10px 0;padding:0 0 18px 0;clear:both'>Trump sugges=
ted last week that he could <a href=3D'https://email.newsletters.ft.com/c/e=
JyMkc1O5DoQRp_G2RmVy-WKvfACCbXE-t55gLJdpqPpTjOJQ4u3H4EYsWVdv985VYa-3Lb3vOp9=
v-gYuk0t90Kp46TZzTFEihTcpFdZLs8ts8PqiaOF0Jwlbt1Kc2R9700ZAGKh6ZxBC4BGkMil1FZ=
6KAiKynMRIt-mJSMgQwRyHsDxgyaea_c4O2Xt1RmC76f2hz4e6u06XfJ5jNfd-EeDJ4On-_3-VT=
J4qrd16DoMnhLG7ltk67F3S-TApiTJzkJOKTFSacaf9vfVYhAuTtj4J2eQv3Ia__STpAZ515err=
uNzpM3RJXDJSvTBJkBnxaNanoOXhgSi83RZ9vEBMpTYtc4zFmnlAwGr9MrT63ZrRx15f5Xt97Tl=
_VBDsMsm57Nsb_r-CWLTP4d-LupFvfO1W0EOlrCzFQRnA8zEiYP43v61a_tP1_b_cv126_w08nE=
szfjHH8kdm6y71LHc1ueWIUjCKMF2BrVUVWykWqx3PEfsFCKE6dh1-3UsLavvLVIQ2wrJxwGxKb=
lik-8SakpJyU1vGf8GAAD__5iEwi0' target=3D'_blank' title=3D'' data-msys-subli=
nk=3D'content-928f3d86-32ff-4410-99a9-7a41e49624bd'>withdraw Blanche=E2=80=
=99s nomination</a> and resubmit it when Cornyn and Tillis were out of offi=
ce.</p><p style=3D'color:#000;font-family:Georgia,serif;font-size:18px;line=
-height:28px;margin:0 0 10px 0;padding:0 0 18px 0;clear:both'>Asked about t=
he deal on Monday, Trump repeated his longstanding claim that the investiga=
tions into him were politically motivated, saying =E2=80=9CI was treated ve=
ry unfairly by the IRS.=E2=80=9D</p><p style=3D'color:#000;font-family:Geor=
gia,serif;font-size:18px;line-height:28px;margin:0 0 10px 0;padding:0 0 18p=
x 0;clear:both'>Trump said that he =E2=80=9Cdidn=E2=80=99t look at=E2=80=9D=
Blanche=E2=80=99s agreement with the senators, but reiterated his support =
for the acting attorney-general, who formerly served as his personal lawyer=
=2E </p><table width=3D'100%' border=3D=
'0' cellpadding=3D'0' cellspacing=3D'0=
'> <tbody> <tr> <td> <!--[if (gte mso 9)|(IE)]><table border=3D"0" cellspac=
ing=3D"0" cellpadding=3D"0" width=3D"700" align=3D"left"><tbody><tr><td sty=
le=3D"padding-top: 18px; color: #000000; font-family: MetricWeb, Arial, san=
s-serif; font-size: 24px; font-weight: 500; text-align: left; line-height: =
28px;" class=3D"dark-heading" className=3D"dark-heading"><![endif]--> <tabl=
e width=3D'100%' border=3D'0' cellpadding=3D'0' cellspacing=3D'0' align=3D'=
left'> <tbody> <tr> <td style=3D'padding-bottom:18px;color:#000;font-family=
:MetricWeb,Arial,sans-serif;font-size:24px;font-weight:500;text-align:left;=
line-height:28px' class=3D'dark-heading' classname=3D'dark-heading'> <h2 st=
yle=3D'color:#000;font-family:MetricWeb,Arial,sans-serif;font-size:24px;fon=
t-weight:500;text-align:left;line-height:28px;margin:0' class=3D'dark-headi=
ng' classname=3D'dark-heading'>The latest headlines</h2> </td> </tr> </tbod=
y> </table> <!--[if (gte mso 9)|(IE)]></td></tr></tbody></table><![endif]--=
> </td> </tr> <tr> <td> <!--[if (gte mso 9)|(IE)]><table border=3D"0" cells=
pacing=3D"0" cellpadding=3D"0" width=3D"700" align=3D"left" style=3D"Margin=
: 0 0 0 0;"><tbody><tr><td><![endif]--> <table width=3D'100%' border=3D'0' =
cellpadding=3D'0' cellspacing=3D'0' align=3D'left' style=3D'Margin:0 0 10px=
0;padding:0 0 10px 0'> <tbody> <tr> <td width=3D'57' height=3D'4' style=3D=
'font-size:0;margin:0;padding:0 0 12px 0'> <div style=3D'border-top-color:#=
fcd0b1;border-top-style:solid;border-top-width:4px;font-size:0' class=3D'da=
rk-thick-line-redesign' classname=3D'dark-thick-line-redesign'>=E2=80=8C</d=
iv> </td> <td height=3D'4' style=3D'font-size:0;margin:0;padding:0'>=E2=80=
=8C</td> </tr> </tbody> </table> <!--[if (gte mso 9)|(IE)]></td></tr></tbod=
y></table><![endif]--> </td> </tr> </tbody> </table><ul><li><p style=3D'col=
or:#000;font-family:Georgia,serif;font-size:18px;line-height:28px;margin:0 =
0 10px 0;padding:0 0 18px 0;clear:both'>The eyes of the world will be on th=
e US midterm elections in a couple of months. Check out <a href=3D'https://=
email.newsletters.ft.com/c/eJyMkc1O5DoQRp_G2Rm5ynbZXniBhFpife88QMWuoqPpTjOJ=
Q4u3H4EYsWVdv985jYe83Lb3usp9v8gYsk296hyK4iQVUo455BBhkisvl-deCbD5QNm62MEG6mq=
5Q7BetQs55_IcpnPtgr10SQyoaaZWNCM47QA-AUc3LRUdkssugHcO6EEKpaYeEwiJNjDBfT-1P-=
h4aLfrdKnnMV534x8Nngye7vf7V8ngqd3WIesweMKiwAreSmveBkWyHFKxQi7nRgk9zMaf9vfVY=
mSagcn4JzBIXzmNf_pJUoO0y8tV1vE50lOG4qBYzj7a4hAsexRLKXruGBxLmi7LPj5AxjmrtJRw=
5j5_ICBhbTS9brd-tFH3V95-T1vdDzHB7bzx-czbm7x_gtjkzyGfi3QWD76pZaRoAypZRgc2uhS=
oUGSv_V-79P9k7f8v12-34KdRj2Ppxj_-SO7YeN25jeW2PvfqIhfMHK2SExuasM2hzdYDpYwaYn=
ZxOnbZfh1Lr-K15xDZ9jnwxwG2pcBsi1eOrZQiAaa3in8DAAD__xq1wf4' target=3D'_blank=
' data-msys-sublink=3D'content-29f1af13-ecc3-4f26-a479-e6088c67231b'>the FT=
=E2=80=99s elections guide</a> for the pivotal developments to watch betwee=
n now and November 3.</p></li><li><p style=3D'color:#000;font-family:Georgi=
a,serif;font-size:18px;line-height:28px;margin:0 0 10px 0;padding:0 0 18px =
0;clear:both'>Iran has <a href=3D'https://email.newsletters.ft.com/c/eJyMkc=
1u4zoMhZ_G3qmQKFKWFloUKAJ0fe88ACVSjTGJk7HlBnn7QYIOuu2OAP_O-U7lrh-X9Z4XvW0n7=
V3XUXIrmBqMmt0UKWJEcqOeeT69Sw4OqscQjSVxBoM0w-LQ-NZEg7U2FhyPuYkDVQoSWAGkuoaE=
RSVySQ0FxzmDhWCjReetdeFFU5hq8zA5DdqqG9B-i9peWn-pl_N4ysfer9vgXwc4DHC43W5frQE=
O9bJ0XfqjSkXIxmogOTJYPBomJkPkS2uJMDIN_rDdFwPEoTgOg39zA4Qvn4N_-4nTAcKmH2dd-n=
NFpuiSdclw9GSSBWfYg5owkWcBtKzTeJq3_gBJJTat0wSFpTwQBOVWw3hdL7LXnrcrr7_HNW-7D=
mg3Xvl45PVT708Qq_7Z9XmoFfXO12YYAhmEFgyDdYbshCEFYt_k37jKf7rI__P5O1vnx573fZbB=
v_4o3L7ysnHt82V5l2yJE0Qm04JVg1XZRKzFeBemCA0pWhr3Tddf-yxZfZOIxEYK8uMBm5RcMck=
3pppSUnTjZ4a_AQAA___DPsLH' target=3D'_blank' data-msys-sublink=3D'content-c=
9bd508c-2915-4b34-a5a5-553bff9548a5'>denied Trump=E2=80=99s claims</a> that=
ceasefire talks were set to resume this week after the president called of=
f a major planned strike over the weekend. </p></li><li><p style=3D'color:#=
000;font-family:Georgia,serif;font-size:18px;line-height:28px;margin:0 0 10=
px 0;padding:0 0 18px 0;clear:both'>Japan <a href=3D'https://email.newslett=
ers.ft.com/c/eJyMkc1O5DoQRp_G2RWyy-WKvfACCbXE-t55gLJdpqPpTjOJQ4u3H4EYsWVdv9=
85VYa-3Lb3vOp9v-gYuk0t90Kp46TZzTFEihTcpFdZLs8ts8PqiSPY0BwQtw7SHIHvvSlba2Oh6=
ZwDMfWGs00aQlEuEqJgEx-tk5pkWjJaZBstOW-t4wdNPNfucXbK2qszZL-f2h_6eKi363TJ5zFe=
d-MfDZ4Mnu73-1fJ4Kne1qHrMHgKTdGSEFArDBRiBZEk4JGUSws6Mxt_2t9XwCBcnLDxT84gf-U=
0_uknSQ3yri9XXcfnSJujS9YlkOgDJIsOxKMCz8FLQ7Ki83RZ9vEBMpTYtc4zFmnlAwGr9MrT63=
ZrRx15f5Xt97Tl_VBDdpdNzmfZ3vT9E8Smfw79XNSLeudrB0EOQNgZBK2DYGfixEF8b__atf2na=
_t_uX67dX4a-TiWZvzjj-SOTdZd6lhu63PLNkjCKAE6WwWqKhCpFvCO54idQrRhOnbdfh1Ly-p7=
ixQEWiH5OCCQkiuQfJdQU0pKbnrL-DcAAP__o2fCWw' target=3D'_blank' data-msys-sub=
link=3D'content-5de204a4-4db6-458c-aa9a-324e6bd5e766'>confirmed a historic =
joint intervention</a> with US support to bolster its struggling currency. =
</p></li><li><p style=3D'color:#000;font-family:Georgia,serif;font-size:18p=
x;line-height:28px;margin:0 0 10px 0;padding:0 0 18px 0;clear:both'>One of =
the most prominent law firms in Texas has agreed to pay a <a href=3D'https:=
//email.newsletters.ft.com/c/eJyMkctq9DgQRp_G3imoLipLCy0CoSHrmXmAslRKm-l2Z2=
w5Td5-6JCfbLMrqAv1nVO029tt-8yr3feL9W7bWHObOTUcLcMUQ-TIAUa76nJ5rVkAC7FE50MFx=
1Kb0wrsqLVq4r2PM4_nzATmTVCFEiJwRANuTMResbUyLhk9io-egbwHebIkU2mEE5hYKzCw_3lq=
f2r9qdyu4yWfe3_fB3oe8DTg6X6_f7cGPJXb2m3tj4q8n7lWlyKreyRwURRcBSKs2izOZaDT_rk=
6DCozqAz0AgPKd86BXn6TdEDZ7e1qa_9aqVOE5CE5jRRc8ghOCc3JFEgrslebxsuy9wfIMMdmZZ=
pw1jo_EIhpKzK-b7d6lJ73d93-Hbe8Hzaw33XT81m3D_v8ArHZf4d9HWqzEVBpTlGCY2ziFD244=
CeWJEGp1T_jVv-ytf69XH_cAo09H8dSB3r-ldy-6bpr6cttfa3ZB00YNbgm3hwXUxe5zI5ApoiN=
Q_RhPHbb_jmWmo1ajRzU1fnhRaq6lGB2iZqGklIyhvEj4_8BAAD__8-OwYc' target=3D'_bla=
nk' data-msys-sublink=3D'content-c300b4dd-984a-4845-86a1-d1332dafe8bc'>$15m=
n settlement</a> to resolve a lawsuit brought by US federal authorities.</p=
></li><li><p style=3D'color:#000;font-family:Georgia,serif;font-size:18px;l=
ine-height:28px;margin:0 0 10px 0;padding:0 0 18px 0;clear:both'>US demand =
for gas-guzzling<a href=3D'https://email.newsletters.ft.com/c/eJyMkc1O5DoQR=
p_G2Rm5yuWKvfACCbXE-t55gLJdpqPpTjOJQ4u3H4EYsWVdv985VYa-3Lb3vOp9v-gYuk0t90Kp=
46QZ5hgiRQow6VWWy3PLDFg9cbQuNLDErVtpQNb33pSdc7HQdM6UUqiExNhLSzWUxjUA90ZBnEC=
ZlowO2UVH4J0DftDEc-0eZ1DWXsGQ-35qf-jjod6u0yWfx3jdjX80eDJ4ut_vXyWDp3pbh67D4K=
l0LjOkZF3qaqmD2ILe2diwFNakCMH40_6-WgzCBYSNfwKD_JXT-KefJDXIu75cdR2fI22OkBwkK=
9EHmxyCFY9qeQ5eGpITnafLso8PkKHErnWesUgrHwhYpVeeXrdbO-rI-6tsv6ct74cacrtscj7L=
9qbvnyA2_XPo56Je1IOv3QpysISdraADG9xMnDiI7-1fu7b_dG3_L9dvt-CnkY9jacY__kju2GT=
dpY7ltj637IIkjBJsZ6eWqoqNVIv1wHPETiG6MB27br-OpWX1vUUKYlsh-TggNiUoNvkuoaaUlG=
B6y_g3AAD__7KnwmI' target=3D'_blank' data-msys-sublink=3D'content-bf6b7199-=
09fe-4f1a-b230-8d2bb6e9e215'> trucks and SUVs</a> remains high while their =
European counterparts struggle with declining sales and stiff competition f=
rom China. </p></li></ul><table width=3D'100%' border=3D'0' cellpadding=3D'=
0' cellspacing=3D'0'> <tbody> <tr> <td> <!--[if (gte mso 9)|(IE)]><table bo=
rder=3D"0" cellspacing=3D"0" cellpadding=3D"0" width=3D"700" align=3D"left"=
><tbody><tr><td style=3D"padding-top: 18px; color: #000000; font-family: Me=
tricWeb, Arial, sans-serif; font-size: 24px; font-weight: 500; text-align: =
left; line-height: 28px;" class=3D"dark-heading" className=3D"dark-heading"=
><![endif]--> <table width=3D'100%' border=3D'0' cellpadding=3D'0' cellspac=
ing=3D'0' align=3D'left'> <tbody> <tr> <td style=3D'padding-bottom:18px;col=
or:#000;font-family:MetricWeb,Arial,sans-serif;font-size:24px;font-weight:5=
00;text-align:left;line-height:28px' class=3D'dark-heading' classname=3D'da=
rk-heading'> <h2 style=3D'color:#000;font-family:MetricWeb,Arial,sans-serif=
;font-size:24px;font-weight:500;text-align:left;line-height:28px;margin:0' =
class=3D'dark-heading' classname=3D'dark-heading'>Datapoint</h2> </td> </tr=
> </tbody> </table> <!--[if (gte mso 9)|(IE)]></td></tr></tbody></table><![=
endif]--> </td> </tr> <tr> <td> <!--[if (gte mso 9)|(IE)]><table border=3D"=
0" cellspacing=3D"0" cellpadding=3D"0" width=3D"700" align=3D"left" style=
=3D"Margin: 0 0 0 0;"><tbody><tr><td><![endif]--> <table width=3D'100%' bor=
der=3D'0' cellpadding=3D'0' cellspacing=3D'0' align=3D'left' style=3D'Margi=
n:0 0 10px 0;padding:0 0 10px 0'> <tbody> <tr> <td width=3D'57' height=3D'4=
' style=3D'font-size:0;margin:0;padding:0 0 12px 0'> <div style=3D'border-t=
op-color:#fcd0b1;border-top-style:solid;border-top-width:4px;font-size:0' c=
lass=3D'dark-thick-line-redesign' classname=3D'dark-thick-line-redesign'>=
=E2=80=8C</div> </td> <td height=3D'4' style=3D'font-size:0;margin:0;paddin=
g:0'>=E2=80=8C</td> </tr> </tbody> </table> <!--[if (gte mso 9)|(IE)]></td>=
</tr></tbody></table><![endif]--> </td> </tr> </tbody> </table><p style=3D'=
color:#000;font-family:Georgia,serif;font-size:18px;line-height:28px;margin=
:0 0 10px 0;padding:0 0 18px 0;clear:both'><em>Ahead of the midterms, Datap=
oint gives readers a visual representation of the issues driving US politic=
s, from trade to the economy, political donations and beyond.</em></p><div =
style=3D'width:500px;margin:0 auto;padding-bottom:30px' class=3D'content-im=
age-mobile' classname=3D'content-image-mobile'><p style=3D'margin:0 0 4px 0=
;padding:10px 0 0 0;text-align:center'><img alt=3D'' src=3D'https://images.=
ft.com/v3/image/raw/https://d1e00ek4ebabms.cloudfront.net/production/a560a6=
8f-22f5-4540-9713-7764c60def99.png?source=3Dspark-api&width=3D700&fit=3Dsca=
le-down&bgcolor=3DFFFFFF' style=3D'margin:0;width:100%;max-width:500px;vert=
ical-align:middle'></p></div><p style=3D'color:#000;font-family:Georgia,ser=
if;font-size:18px;line-height:28px;margin:0 0 10px 0;padding:0 0 18px 0;cle=
ar:both'>Of the states holding US Senate elections this year, none were mor=
e narrowly decided in the 2024 presidential race than Michigan, with Trump =
carrying it by just 1.4 percentage points.</p><p style=3D'color:#000;font-f=
amily:Georgia,serif;font-size:18px;line-height:28px;margin:0 0 10px 0;paddi=
ng:0 0 18px 0;clear:both'>Before Democrats can defend the seat, they must d=
ecide which version of the party they want on the ballot. About a quarter o=
f congressional Democrats have endorsed a candidate in the primary, putting=
the party=E2=80=99s ideological divisions on an unusually explicit display=
=2E</p><p style=3D'color:#000;font-famil=
y:Georgia,serif;font-size:18px;line-h=
eight:28px;margin:0 0 10px 0;padding:0 0 18px 0;clear:both'>Gary Peters=E2=
=80=99s retirement has left a contest between Haley Stevens, a moderate Dem=
ocrat in Michigan=E2=80=99s 11th district, and Abdul El-Sayed, a former hea=
lth director of the state=E2=80=99s most populous county.=C2=A0</p><p style=
=3D'color:#000;font-family:Georgia,serif;font-size:18px;line-height:28px;ma=
rgin:0 0 10px 0;padding:0 0 18px 0;clear:both'>El-Sayed=E2=80=99s backers i=
n Congress have voted almost uniformly to limit US military involvement in =
the Middle East this year, while Stevens=E2=80=99s supporters have taken a =
markedly more conventional position.</p><p style=3D'color:#000;font-family:=
Georgia,serif;font-size:18px;line-height:28px;margin:0 0 10px 0;padding:0 0=
18px 0;clear:both'>Twelve of El-Sayed=E2=80=99s 14 House endorsers backed =
directing Trump to remove US forces from Lebanon, compared with seven of St=
evens=E2=80=99s 40 supporters in the House. And every El-Sayed endorser sup=
ported an amendment barring funds for Israel and cutting the foreign milita=
ry financing account by $3.3bn. Just 14 of Stevens=E2=80=99s 40 backers did=
the same.</p><p style=3D'color:#000;font-family:Georgia,serif;font-size:18=
px;line-height:28px;margin:0 0 10px 0;padding:0 0 18px 0;clear:both'>The ca=
ndidates=E2=80=99 endorsements garnered from their potential Senate colleag=
ues follow a similar faultline. El-Sayed is backed by Bernie Sanders, Eliza=
beth Warren and Chris Van Hollen; Stevens by Senate Democratic leader Chuck=
Schumer, Chris Coons and Peters, whose seat she is seeking.</p><p style=3D=
'color:#000;font-family:Georgia,serif;font-size:18px;line-height:28px;margi=
n:0 0 10px 0;padding:0 0 18px 0;clear:both'>Foreign policy <a href=3D'https=
://email.newsletters.ft.com/c/eJyMkc1uIysQhZ-G3hFBAQUsWESKLGV97zxAQRVxa-y2p=
5uO5bcf2coo2-xKqr9zvtNoyMdlvZdFbttJxpB14tKrzx0mKTamkHzywU5ypvn0zgUtNOcxaRPY=
ao_cNbH12vXOgsaYVP10LDVXZmKICLallNg67oyZASxKxWkuYABNMt46Yyy-SMbYuoNoBaU3q7z=
5FrW99PHSLufpVI5jXDflXhUcFBxut9tXS8GhXZYhy1BwSCm3ECzplKhq_6xiD7qxNAweI6FX7r=
DdFw2BsFpC5d6sAvzyqdzbT5wqwE0-zrKM5wrHZLOxWVNyQWcDVpMD0RiDIwZvSOJ0mrfxABlq6=
tJihEpcHwhQqDecruuF9zbKdqX197SWbRflzUYrHY-0fsr9CWKVP7s8D_UqzrrWNQEG7aGjJjBW=
BxM9ZgzkOv8bF_5PFv5_Pn9na900yr7PrNzrj8IdKy0btTFflncuJlCGREF3NKJ9E9LJt6qdxZi=
g-5BMmPZN1l_7zEVc5-QDaa6eHg9I52yrzq5TaDln8Xb6LPA3AAD__6_twkw' target=3D'_bl=
ank' data-msys-sublink=3D'content-889c551a-88ab-451a-87f5-cdec65467a64'>car=
ries unusual electoral weight</a> in Michigan, as Guy Chazan noted over the=
weekend, as the state is home to one of the country=E2=80=99s largest Arab=
-American populations.</p><p style=3D'color:#000;font-family:Georgia,serif;=
font-size:18px;line-height:28px;margin:0 0 10px 0;padding:0 0 18px 0;clear:=
both'>Dearborn, a neighbouring city to Detroit, delivered Democrats a fairl=
y blunt warning in 2024. Trump won over 42 per cent of the city=E2=80=99s p=
residential vote, while third-party candidate Jill Stein, running on a pro-=
ceasefire platform, took another 18 per cent. Nationwide, she garnered arou=
nd half a per cent of the vote in 2024.</p><p style=3D'color:#000;font-fami=
ly:Georgia,serif;font-size:18px;line-height:28px;margin:0 0 10px 0;padding:=
0 0 18px 0;clear:both'>Recent polls put El-Sayed ahead =E2=80=94 an Emerson=
College survey conducted on July 26 and 27 estimates his lead at around 15=
percentage points. The race was narrowed to two candidates following the w=
ithdrawal last month of state senator Mallory McMorrow, whose platform aime=
d to split the gap between Stevens=E2=80=99s more mainstream candidacy and =
El-Sayed=E2=80=99s anti-establishment persona.=C2=A0</p><p style=3D'color:#=
000;font-family:Georgia,serif;font-size:18px;line-height:28px;margin:0 0 10=
px 0;padding:0 0 18px 0;clear:both'>Tonight=E2=80=99s result will show whic=
h way Democratic voters are trying to pull the party, as well as setting up=
a test for whether those campaign planks have legs with the general electo=
rate in November.</p><p style=3D'color:#000;font-family:Georgia,serif;font-=
size:18px;line-height:28px;margin:0 0 10px 0;padding:0 0 18px 0;clear:both'=
><em>=E2=80=94 Michael Taffe, FT data reporter</em></p><table width=3D'100%=
' border=3D'0' cellpadding=3D'0' cellspacing=3D'0'> <tbody> <tr> <td> <!--[=
if (gte mso 9)|(IE)]><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0=
" width=3D"700" align=3D"left"><tbody><tr><td style=3D"padding-top: 18px; c=
olor: #000000; font-family: MetricWeb, Arial, sans-serif; font-size: 24px; =
font-weight: 500; text-align: left; line-height: 28px;" class=3D"dark-headi=
ng" className=3D"dark-heading"><![endif]--> <table width=3D'100%' border=3D=
'0' cellpadding=3D'0' cellspacing=3D'0' align=3D'left'> <tbody> <tr> <td st=
yle=3D'padding-bottom:18px;color:#000;font-family:MetricWeb,Arial,sans-seri=
f;font-size:24px;font-weight:500;text-align:left;line-height:28px' class=3D=
'dark-heading' classname=3D'dark-heading'> <h2 style=3D'color:#000;font-fam=
ily:MetricWeb,Arial,sans-serif;font-size:24px;font-weight:500;text-align:le=
ft;line-height:28px;margin:0' class=3D'dark-heading' classname=3D'dark-head=
ing'>Viewpoints</h2> </td> </tr> </tbody> </table> <!--[if (gte mso 9)|(IE)=
]></td></tr></tbody></table><![endif]--> </td> </tr> <tr> <td> <!--[if (gte=
mso 9)|(IE)]><table border=3D"0" cellspacing=3D"0" cellpadding=3D"0" width=
=3D"700" align=3D"left" style=3D"Margin: 0 0 0 0;"><tbody><tr><td><![endif]=
--> <table width=3D'100%' border=3D'0' cellpadding=3D'0' cellspacing=3D'0' =
align=3D'left' style=3D'Margin:0 0 10px 0;padding:0 0 10px 0'> <tbody> <tr>=
<td width=3D'57' height=3D'4' style=3D'font-size:0;margin:0;padding:0 0 12=
px 0'> <div style=3D'border-top-color:#fcd0b1;border-top-style:solid;border=
-top-width:4px;font-size:0' class=3D'dark-thick-line-redesign' classname=3D=
'dark-thick-line-redesign'>=E2=80=8C</div> </td> <td height=3D'4' style=3D'=
font-size:0;margin:0;padding:0'>=E2=80=8C</td> </tr> </tbody> </table> <!--=
[if (gte mso 9)|(IE)]></td></tr></tbody></table><![endif]--> </td> </tr> </=
tbody> </table><ul><li><p style=3D'color:#000;font-family:Georgia,serif;fon=
t-size:18px;line-height:28px;margin:0 0 10px 0;padding:0 0 18px 0;clear:bot=
h'>The Democrats=E2=80=99 civil war over Israel <a href=3D'https://email.ne=
wsletters.ft.com/c/eJyMkbtOJDsQhp_Gzgq5fCnbgQMkNBLxOfsAZbvMtHamh-12M-LtVyBW=
pMR1_b-v8ZSX2_ZeVrnvF5lTNt3LqD4Pq6VgTCH55ANqufJyee6F0DbnKYEJHcFTH8AdPbgxupA=
xJlWvz4UydQo2pYg4OCJVL8mNRi5KrrXrpVhjySTj0RmD9CCZYhvORhSS0VB58_3U_jDmQ7td9a=
Wc53zdlXtU9qTs6X6_f5WUPbXbOmWdyp5MZOk5BOipRfCVPdRYDaCXnKnWXFtS7rS_r2ADU0Um5=
Z5QWfrKqdzTT5IqS7u8XGWdnyM9JswGM3ByAbKxCOysAMXguFtvWKK-LPv8ABlqGtJitJV7_UBA=
wqORft1u_Wiz7K-8_dZb2Q9R3uy88fnM25u8f4LY5M8hn4tGFYeuDWBLAbwdBGwNQjDRU6bAbvR=
_7dL_k7X_v1y_3aLTsxzH0pV7_JHcufG6c5vLbX3uxQTONnGAQUbAN2FIvlVwSDHZ4UMyQR-7bL=
-OpRdxoycfGHr1_HGAIWeskN3g0HLO4lG_Ffs3AAD__21BwlM' target=3D'_blank' data-m=
sys-sublink=3D'content-07aed955-d8c7-4ba4-b7b0-14e996bb9bc8'>is getting wor=
se</a>, writes Edward Luce, while the party continues to ignore the threat =
posed by AI and social media. </p></li><li><p style=3D'color:#000;font-fami=
ly:Georgia,serif;font-size:18px;line-height:28px;margin:0 0 10px 0;padding:=
0 0 18px 0;clear:both'>Europe can be a trusted connector between the world=
=E2=80=99s technological superpowers, the US and China, <a href=3D'https://=
email.newsletters.ft.com/c/eJyMkbtOJDsQhp_GzoxcVb4GDpDQSMTn7AOU7TLT2pkettvN=
iLdfgViREtf1_77GU15u23tZ5b5fZE7ZdC-jujxQS4GYfHLJedBy5eXy3EsAbORCMtZ3MC70Ybi=
DMzRGl2CtTdXpc4kiRLFy9ESJRg5ZACLlxiM4BquXghaDTdYBWQvhQXKIbRBGkCCjgXL2-6n9Yc=
yHdrvqSznP-borelR4Uni63-9fJYWndlunrFPhKVvvbRMx2LszjuIwqXY2FcZwQBA7kqLT_r4a9=
BwqcFD0BArDV05FTz9JqjDs8nKVdX6O9JggW8iGE3mTLYJhQjEheuKOzrJEfVn2-QHS1zSkxYiV=
e_1AEIRHC_p1u_WjzbK_8vZbb2U_RDm788bnM29v8v4JYpM_h3wuGlUIqA3DGLxxOIJhtGC8jS7=
k4JlG_9cu_T9Z-__L9dstkJ7lOJau6PFHcufG685tLrf1uRfrOWNib0awYlwTNsm1aghCTDicT9=
brY5ft17H0IjR6cp5Nr44_DrDJGarJNNi3nLM40G8F_wYAAP__hHbB0w' target=3D'_blank'=
data-msys-sublink=3D'content-90550cee-2dd4-437f-8bda-b1ff41317d23'>argues =
Roland Busch</a>, the president of Siemens AG.</p></li><li><p style=3D'colo=
r:#000;font-family:Georgia,serif;font-size:18px;line-height:28px;margin:0 0=
10px 0;padding:0 0 18px 0;clear:both'>Unhedged=E2=80=99s Katie Martin <a h=
ref=3D'https://email.newsletters.ft.com/c/eJyMkcFuKy0MhZ8GdlRgg4EFi0pVpK7__=
z6AB0wzuskkd4ZplLe_StSrbru2fXzOdyoP-bis97LIbTvJGLLqVvrkcwctxcUUkk8-OC1nnk_v=
rZCDip6SsaE546l1w815g703IWttmrw-lso9kyeXWsaHSONYc24BAb10yHouYIFsst6htY5eJFO=
sHSE6IenVKW-_TW0vfbzUy1mfynGM66bwVcFBweF2u32NFBzqZRmyDAWHTi0QipgMmIzvCQwnn0=
zMHXxMCDQ1hYftvhgITJNjUvjmFNBXToVvP0mqgDb5OMsynictJpety4YTBpMtOMMIYigG5Abes=
kR9mrfxABmm1KXGCBO36YGAhHslfV0vba-jbFdef-u1bLsobzde-Xjk9VPuTxCr_NnlKdQnQYe1=
GwYKxkMnw2CdCTZ6yhQYe_u3Lu0_Wdr_8_m7W4d6lH2fm8LXH5U7Vl42rmO-LO-t2MAZEgfTyYr=
xVdgkXyeDjmKC7kOyQe-brL_2uRXB3pIPbNrk-fGATc5uMhk7h5pzFu_0Z4G_AQAA___ATcFV' =
target=3D'_blank' data-msys-sublink=3D'content-f6d563ee-9238-4f82-a848-79f2=
478326bd'>unpacks the Trump administration=E2=80=99s puzzling decision</a> =
to intervene (in euros) in support of the Japanese yen. </p></li><li><p sty=
le=3D'color:#000;font-family:Georgia,serif;font-size:18px;line-height:28px;=
margin:0 0 10px 0;padding:0 0 18px 0;clear:both'>The butterfly effect of Tr=
ump=E2=80=99s war on DEI is being <a href=3D'https://email.newsletters.ft.c=
om/c/eJyMkbtOJDsQhp_GzozK5fItcICERiI-Zx-gbJeZ1s70sN1uRrz9CsSKlLiu__c1nvJy29=
7LKvf9InPKpnsZlfJALcXG5BMl8lbLlZfLcy_BYnMUkgHfraHQh-FuybgxugQASJX0uSQAYIBco=
WIaKTb2nciNGjhGqF4vBQEDJCDrAGx4kBxiGw6jlSCjWUXw_dT-MOZDu131pZznfN2Ve1R4Uni6=
3-9fJYWndlunrFPhyUUIjmowCakZAo-mWkETq22cXCXhodxpf18Neg7VclDuySoMXzmVe_pJUoV=
hl5errPNzpMdkM9hsODlvMqA17FBMiN5xRwKWqC_LPj9A-pqGtBixcq8fCILwaEG_brd-tFn2V9=
5-663shyiCnTc-n3l7k_dPEJv8OeRz0ajirGvDMAZvCEcwjGCNh0ghB89u9H_t0v-Ttf-_XL_dW=
qdnOY6lK_f4I7lz43XnNpfb-twLeM6Y2JsRQAw1YZOoVeNsiAkH-QReH7tsv46lF3GjJ_JseiX-=
OMAmZ1tNdoN9yzkLWf1W8G8AAAD__-17wX8' target=3D'_blank' data-msys-sublink=3D=
'content-370634b6-824c-4052-b1e2-7b1ca83b4eaf'>felt far from America=E2=80=
=99s shores</a>, says Andrew Hill. </p></li><li><p style=3D'color:#000;font=
-family:Georgia,serif;font-size:18px;line-height:28px;margin:0 0 10px 0;pad=
ding:0 0 18px 0;clear:both'>Zohran Mamdani is pushing to make <a href=3D'ht=
tps://email.newsletters.ft.com/c/eJyMkc1uIysQRp-G3hFBFRSwYBEpspT1vfMABRRxa-=
y2p5uO5bcf2coo26zr95yv8pCPy3rPi9y2k4wh69RyLy51mCTbEH100Xk7yZnn03vLZKGio6iNb=
1Y7al1zs05j703IGBOLm44ZCH2NqXHBhslJSyWIqalAwSCVpzmDATLROIvGWHqRRKF2hGCFpFer=
nPl-anvp46VeztMpH8e4bgpfFRwUHG6321dJwaFeliHLUHAogtalXnXywWlniHVMxuhAkKLFHmv=
tCg_bfdHgmYplUvhmFdAXp8K3n5AqoE0-zrKM50gL0SZjk-aIXicDVjOCaAoeuYEzLGE6zdt4iP=
QldqkhQOFWHgpIuFearuul7XXk7crr72nN2y7KmY1XPh55_ZT7U8Qqf3Z5LuoPWKxdM5DXDjppB=
mO1N8FRIs_Y2792af_J0v6fz9_ZWpxG3ve5KXz9Ubhj5WXjOubL8t6y8ZwgstedjGhXhXV0tWi0=
FCJ056Px077J-mufWxbsLTrPuhXHjwOsU7JFJ-zsa0pJnJ0-M_wNAAD__2cdwhk' target=3D'=
_blank' data-msys-sublink=3D'content-be3149fc-9574-406a-8900-7629813f8ccf'>=
New York City (small) business friendly</a>, notes James Fontanella-Khan. <=
/p></li></ul> </td> </tr> </tbody> </table> <!--[if (gte mso 9)|(IE)]></td>=
</tr></tbody></table><![endif]--> <div style=3D'max-width:640px;margin-righ=
t:auto;margin-left:auto'> <!--[if (gte mso 9)|(IE)]><table border=3D"0" cel=
lspacing=3D"0" cellpadding=3D"0" width=3D"700" align=3D"center"><tbody><tr>=
<td style=3D"padding: 0 0 0 0;"><![endif]--> <table width=3D'100%' border=
=3D'0' cellpadding=3D'0' cellspacing=3D'0' align=3D'center'> <tbody> <tr> <=
td height=3D'1' style=3D'margin:0;padding:5px 0 0 0;font-size:0'>=E2=80=8C<=
/td> </tr> <tr> <td height=3D'1' style=3D'padding:0 0 20px 0;font-size:0'> =
<div style=3D'border-top-color:#000;border-top-style:solid;border-top-width=
:1px;font-size:0;margin:0 0 2px 0' class=3D'dark-border-line-redesign' clas=
sname=3D'dark-border-line-redesign'>=E2=80=8C</div> </td> </tr> <tr> <td> <=
!--[if (gte mso 9)|(IE)]><table border=3D"0" cellspacing=3D"0" cellpadding=
=3D"0" width=3D"700" align=3D"left" style=3D"margin: 0 0 0 0;"><tbody><tr><=
td style=3D"padding: 0 0 0 0; color: #000000; font-family: MetricWeb, Arial=
, sans-serif; font-size: 24px; font-weight: 500; text-align: left; line-hei=
ght: 28px;" class=3D"dark-heading" className=3D"dark-heading"><![endif]--> =
<table width=3D'100%' border=3D'0' cellpadding=3D'0' cellspacing=3D'0' alig=
n=3D'left' style=3D'margin:10px 0 20px 0'> <tbody> <tr> <td style=3D'paddin=
g:0 0 6px 0'> <h3 style=3D'color:#000;font-family:MetricWeb,Arial,sans-seri=
f;font-size:24px;font-weight:500;line-height:28px;margin:0' class=3D'dark-h=
eading' classname=3D'dark-heading'>Recommended newsletters for you</h3> </t=
d> </tr> </tbody> </table> <!--[if (gte mso 9)|(IE)]></td></tr></tbody></ta=
ble><![endif]--> </td> </tr> </tbody> </table> <!--[if (gte mso 9)|(IE)]></=
td></tr></tbody></table><![endif]--> <!--[if (gte mso 9)|(IE)]><table borde=
r=3D"0" cellspacing=3D"0" cellpadding=3D"0" width=3D"700" align=3D"center" =
style=3D""><tbody><tr><td><![endif]--> <table width=3D'100%' border=3D'0' c=
ellpadding=3D'0' cellspacing=3D'0' align=3D'center' style=3D'margin:0'> <tb=
ody> <tr> <td style=3D'padding:10px 0 0 0'> <table width=3D'100%' border=3D=
'0' cellpadding=3D'0' cellspacing=3D'0' align=3D'left'> <tbody> <tr> <td al=
ign=3D'left' valign=3D'top' style=3D'margin:0 0 10px 0;padding:0 0 24px 0;w=
idth:126px' class=3D'list-image-cell' classname=3D'list-image-cell'> <a hre=
f=3D'https://email.newsletters.ft.com/c/eJyMkTtuHDEQRE_DySg0m_-AgQBhAcW2D9A=
ku7UD789Djgzd3tBChhQqrupPvWo0-eW6vZUL_x0nnpO3pRepLgsuXExMPrnkvFn4TOvpuZdgsF=
kXkgbfjXahi6ZunLYinQMApOqWY7HgcyBBQRHfa8boIBmsOXQ2PtKyFgQMkMAZC2DCA-cQm1iMh=
gNLM8rB51PjQeZDu56XUznOeRvKPio8KDzw7UNRePhiV3gYex1tWysr-0V57kPZJx8ouBrBSciW=
wAJ0oRpZYfjIqezTd5IqDINfznyZ95Eek8lgsqZkvc6ARpNF1iF6Sx0dEMfltI75DtLXJNxixEq=
9viMITNLCctuufW-zjBttv5etjJ2Vg0EbHY-0vfLbHcTGf3a-L5LK1tgmmjB47VCCJgSjPUQXcv=
Bkpf-3c__Bl_5zPX92a-wyy76vXdnHb5U7N7oManO9Xp57AU8ZE3ktAVi7xqSTa1VbE2JCcT6BX=
_bB26997YWt9OQ86V4dvR8gnbOpOlsh33LO7MzyWvBfAAAA__-uO8Vu' target=3D'_blank' =
style=3D'text-decoration:none'> <img src=3D'https://d1e00ek4ebabms.cloudfro=
nt.net/production/uploaded-files/SwampNotes_Revised-e3035d8e-3736-480a-930b=
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r-color:#e0e0e0;border-style:solid;display:inline-block;width:110px' width=
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e=3D'margin:0 0 10px 0;padding:0 0 18px 0' valign=3D'top'> <table width=3D'=
100%' border=3D'0' cellpadding=3D'0' cellspacing=3D'0' align=3D'left'> <tbo=
dy> <tr> <td style=3D'margin:0;padding:0 0 6px 0;color:#000;font-family:Met=
ricWeb,Arial,sans-serif;font-size:20px;font-weight:500;text-align:left;line=
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st-title-cell dark-newsfeed-title'>FT Swamp Notes</td> </tr> <tr> <td style=
=3D'color:#000;font-family:Georgia,serif;font-size:14px;line-height:18px;ma=
rgin:0;padding:0 0 6px 0' class=3D'list-body-cell dark-newsfeed-summary' cl=
assname=3D'list-body-cell dark-newsfeed-summary'>Expert insight on the inte=
rsection of money and power in US politics. </td> </tr> <tr> <td style=3D'l=
ine-height:20px;margin:0;padding:0 0 6px 0' class=3D'list-title-cell' class=
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t-size:16px;font-weight:500;text-align:left;line-height:18px;text-decoratio=
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ine-redesign' classname=3D'dark-thick-line-redesign'>=E2=80=8C</div> </td> =
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tr> </tbody> </table> <!--[if (gte mso 9)|(IE)]></td></tr></tbody></table><=
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ding:0 10px 18px 10px;margin:0' class=3D'dark-survey-satisfaction survey-sp=
acing' classname=3D'dark-survey-satisfaction survey-spacing'> <p style=3D'c=
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<tbody> <tr> <td align=3D'center' valign=3D'top'> <a href=3D'https://email=
=2Enewsletters.ft.com/c/eJyMks1u2zoQhZ-=
G2tHgDP8XWsQInBtcIBunzbIYkcNIjWylEhU3b=
18oSJutVwSI4QfOd06iys_T_N6e-bKMXCvPTW5LZ2LBhlvwwQYTjIWGTzSM97l1gEkbF6SyGaRx=
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HRLmuaNBwL3UuD-YaoC9wvVYSkDZ4F72i5oHAW6T6tC317jdaPz84nP9eNJ9gGigigpaCujQpCk=
kaXzVlNGo4h9Mw5L3WKzXSicvMeOcrcJd0wlueZ1nvKaaru80vzSzO2ysjBqoZn6nuY3fv_QPvO=
vlT9ApWMNOhVJ6Kw0WJwkVCCt8sZFZ0mX_Hec85HP-XE4fTUJdFPbdR2y0DdXVanOdF4o1WE63-=
dWWYoYyMriFEuTmGQwqZManA9YjA3KNlti39Yht9ck1ry1-CcAAP__Y_flcg' style=3D'text=
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none;display:block' height=3D'55' width=3D'55' alt=3D'Very Dissatisfied'> <=
/a> </td> <td align=3D'center' valign=3D'top' style=3D''> <a href=3D'https:=
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UGBK1pZX6qioq0ytRb2ABB6K4eEIThDPnTeOGeAwWqIrpYAIduMWo4JAT0EsNoAaL_j6LtcDXaa=
PdeshYXPTy272nZ5OsljGlp7WYS5EbgXuL9cLrvKXHrKzx8agfsscE8C966_O_-GR_j5dNCHLzh=
8d7HcHYTZf_2X_ONhbEcW5vZxGBsL_O__aV2295FaHgT6deH5vghzy6aWYB2p0lvaLicVo-5VNJ=
VcjjGy1QL9kqd5y0OB_gOaMLfXYNvM_HTic3u3lC7oCDoqCsapCKgVGWTlO2eooAXiTh7HpW2tu=
D5Uzl2HPZV-4-mZavbyZZ7KmltaXmh-lnNaVhYWFpppGGh-5bd3qjP_Wvk9qPZstMlVEXqnLFav=
CEErB5310TsytfyVcznwuTyMp8-haCNbWtexCHNz1VLaTOeFchun831J4ChiIKeqB1Y2M6lgc6-=
M9l3Aal0AJ7dCvq1jSdcUIl8T_gkAAP__ZtrawQ' style=3D'text-decoration:none;disp=
lay:block' target=3D'_blank'> <img src=3D'https://images.ft.com/v3/image/ra=
w/https%3A%2F%2Fip-ep-ftcom-manual.s3.eu-west-1.amazonaws.com%2F57c23560-73=
cf-42a5-9678-0f95a0658bfd?source=3Dspark-api' style=3D'border:0 none;displa=
y:block' height=3D'55' width=3D'55' alt=3D'Dissatisfied'> </a> </td> <td al=
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ers.ft.com/c/eJyMkr9u3DwQxJ-G6nhYLv-ILFj4g3H-jABpzonLYEkuLcV3J0eifPHbBzKcuL=
2KzcyA-5vJ1Phpmt_imS_LkVvjuSuxJhMqdhxV76033ljV8YnG432JTmHWxnkJtihpXKmSijJS1=
1rYAYBPphticaoApFooB0cVM4WewKGpWmUA240RAR14MEoDKLfj4PpcNfaKHdeshIHPTy272nZ5=
OnXHOLT2sgh9I3AvcH-5XHaVuSTKzx8agfsscE8C9zbdnX_DI_x8OqjDFxy-21DuDkLvv_5L_vE=
wtiMLffs4jI0F_vf_tC7b-0gtDwLduvB8X4S-ZV2LN5ZkSYa2y0mGoJIMupLNIQQ2SqBb8jRveV=
qg-4Am9O012DYzP5343N4tpfcqgAqSvLYyACpJGlm63moqaIC4747j0rZWbPKVc99jopI2no6pZ=
te9zFNZc4vLC83P3RyXlYWBhWYaBppf-e2d6sy_Vn4Pqom10rlKQmelweokIShpoTcuOEu6lr9y=
Lgc-l4fx9DkUpbsW13UsQt9ctZQ203mh3MbpfF8iWAroycrqgKXJTNKbnKRWrvdYjfVgu62Qb-t=
Y4jWFdK8R_wQAAP__7KHcJw' style=3D'text-decoration:none;display:block' targe=
t=3D'_blank'> <img src=3D'https://images.ft.com/v3/image/raw/https%3A%2F%2F=
ip-ep-ftcom-manual.s3.eu-west-1.amazonaws.com%2Fe57c04b0-a883-4244-ad4d-ecd=
8c5eb97a4?source=3Dspark-api' style=3D'border:0 none;display:block' height=
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n=3D'top' style=3D''> <a href=3D'https://email.newsletters.ft.com/c/eJyMkr9=
u3DwQxJ-G6nhYLv-ILFj4g3H-jABpzonLYEkuLcV3J0eifPHbBzKcuL2KzcyA-5vJ1Phpmt_imS=
_LkVvjuSuxJhMqdhxV76033ljV8YnG432JTmHWxnkJtihpXKmSijJS11rYAYBPphuitQYTWW2BU=
maLvQWFVAh7zcAmdWNEQAcejNIAyu04uD5Xjb1ixzUrYeDzU8uutl2eTt0xDq29LELfCNwL3F8u=
l11lLony84dG4D4L3JPAvU1359_wCD-fDurwBYfvNpS7g9D7r_-SfzyM7chC3z4OY2OB__0_rcv=
2PlLLg0C3LjzfF6FvWdfijSVZkqHtcpIhqCSDrmRzCIGNEuiWPM1bnhHoPqAJfXsNts3MTyc-t3=
dL6b0KoIIkr60MgEqSRpaut5oKGiDuu-O4tK0Vm3zl3PeYqKSNp2Oq2XUv81TW3OLyQvNzN8dlZ=
WFgoZmGgeZXfnunOvOvld-DamKtdK6S0FlpsDpJCEpa6I0LzpKu5a-cy4HP5WE8fQ5F6a7FdR2L=
0DdXLaXNdF4ot3E635cIlgJ6srI6YGkyk_QmJ6mV6z1WYz3Ybivk2zqWeE0h3WvEPwEAAP__4hz=
bwQ' style=3D'text-decoration:none;display:block' target=3D'_blank'> <img s=
rc=3D'https://images.ft.com/v3/image/raw/https%3A%2F%2Fip-ep-ftcom-manual.s=
3.eu-west-1.amazonaws.com%2F5f440737-976d-490e-8d5f-c9e90880535a?source=3Ds=
park-api' style=3D'border:0 none;display:block' height=3D'55' width=3D'55' =
alt=3D'Satisfied'> </a> </td> <td align=3D'center' valign=3D'top'> <a href=
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hDK6Y9_LTNgfMvaw8PbRIBJaKjfHn-zvnIyNHs7zazrRpR6oNZq7kniwkaGjpPvggg3W6Y6OOB1=
uS_IasrE-SOWKltYXlli0lYa5kFdKhcF2Y0KjGAJn5EzFeyJWQORh4BLYutJNCRR4FZTVRintNx=
R9n9lAr8kTZy2s-nhU3XDb5POxO6SxtacqzJWAnYDd5XLZMFEZMD--ZwTssoAdCti54eb0ou7V7=
4e93n-D8aeL5WYvzO77f_Kvu6kdSJjr-3FqJGD79bzU9bzHlkcBfqk03xZhrslwCdahLIPF9eco=
Y9SDjIbR5RgjWS3A13yeV54TsJUCtl9e2kxHOrwK2FZsU-WJigD_LlSY688oXcH0cKRTe7tS-qC=
j0lFiME5GBVqiAZK-dwYLWIXUd4eptrUxNwSm3PcwYBlW156Qs--e5nNZckv1CefHbk51IWFVxR=
nHEednen0zPtOfhd5APJDRJrNE8E5aYC8RlJZO9dZH79Bw-RensqdTuZuOHyPSpmtpWaYizNWnV=
tRmPFXMbTqfbktSDiMEdJK9ImkzoQw2D9Jo3wdg64Jy3VrWj2Uq6TNldc8J_gYAAP__GX7mqQ' =
style=3D'text-decoration:none;display:block' target=3D'_blank'> <img src=3D=
'https://images.ft.com/v3/image/raw/https%3A%2F%2Fip-ep-ftcom-manual.s3.eu-=
west-1.amazonaws.com%2Ffb761cf5-a108-4ecb-84f7-a69391a4c54e?source=3Dspark-=
api' style=3D'border:0 none;display:block' height=3D'55' width=3D'55' alt=
=3D'Very satisfied'> </a> </td> </tr> <tr> <td valign=3D'top' style=3D'font=
-size:10px;font-family:Arial,sans-serif;text-align:center;color:#000;paddin=
g:0;margin:0' class=3D'dark-survey-satisfaction' classname=3D'dark-survey-s=
atisfaction'>Very<br/>dissatisfied</td> <td valign=3D'top'>=C2=A0</td> <td =
valign=3D'top'>=C2=A0</td> <td valign=3D'top'>=C2=A0</td> <td valign=3D'top=
' style=3D'font-size:10px;font-family:Arial,sans-serif;text-align:center;co=
lor:#000;padding:0;margin:0' class=3D'dark-survey-satisfaction' classname=
=3D'dark-survey-satisfaction'>Very<br/>satisfied</td> </tr> </tbody> </tabl=
e> </td> </tr> </tbody> </table> <!--[if (gte mso 9)|(IE)]></td></tr></tbod=
y></table><![endif]--> </td> </tr> <tr> <td style=3D'padding:0 10px 0 10px;=
margin:0' class=3D'dark-survey-satisfaction survey-spacing' classname=3D'da=
rk-survey-satisfaction survey-spacing'> <!--[if (gte mso 9)|(IE)]><table bo=
rder=3D"0" cellspacing=3D"0" cellpadding=3D"0" align=3D"left"><tbody><tr><t=
d style=3D"color: #000000; font-family: Georgia, serif; font-size: 18px; li=
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