The White House walks back expectations for Friday’s meeting between the US and Russian presidents, and Norway’s oil fund is pulling its money out of Israel. Plus, inflation stayed flat in the US in July, and storm-hit beach towns are struggling to shore up amid sand scarcity.

Mentioned in this podcast:

White House downplays expectations for Trump-Putin Alaska summit

US inflation holds steady at 2.7% in July despite Trump’s tariffs

Norway oil fund sells out of a fifth of Israeli firms amid fierce criticism

Can the world’s beaches survive a sand shortage?

Crypto founder Do Kwon pleads guilty to US fraud charges

Today’s FT News Briefing was produced by Fiona Symon, Katya Kumkova, Michaela Seah, and Marc Filippino. Additional help from Kelly Garry, Michael Lello, and Gavin Kallmann. Our acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music. 

Read a transcript of this episode on FT.com

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