G7, minus Trump

Group of Seven leaders gathered in the U.K. for the first in-person summit since the pandemic began. There are major agenda items on the table: managing relationships with China, supporting both a global economic recovery and Covid vaccination effort, and taking urgent action on the climate crisis. U.S. President Joe Biden may have a tough job ahead of him, recommitting to skeptical, long-time allies after Donald Trump’s turbulent tenure, which included the ex-president ripping up the communique at the end of the 2018 meeting after having agreed to it. Here’s the latest from the G7. — Margaret Sutherlin

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Congressional leaders demanded answers after revelations that Trump-era Attorneys General Bill Barr and Jeff Sessions secretly subpoenaed data of at least two House Democrats and their families in an unprecedented effort to track leaks tied to contacts between Russian officials and Trump associates. Senate Majority Leader Chuck Schumer and Judiciary Chair Dick Durbin said Barr and Sessions must testify under oath, and Deputy Attorney General Lisa Monaco has asked the Justice Department’s inspector general to investigate.

Millions of Johnson & Johnson shots were cleared for use after problems at a manufacturer delayed them, but millions more could be thrown out. India’s Covid-19 death tally surged by a record 6,148 fatalities in one day, while U.K. infections continued to rise because of the Delta variant, posing a challenge ahead of a reopening deadline. Before an expected call by the G-7 for a new probe, the U.S. pressed China again to allow an expert-led study into the origins of Covid-19. China’s top diplomat rebuffed the suggestion. Here’s the latest on the pandemic.

So-called stay-at-home companies helped lead a 15-month stock rally that pushed many shares to new heights. Now investors have shifted their focus to businesses poised for a rebound in a reopening U.S. economy. Midsize companies, it turns out, are the key to both groups. Here’s your markets wrap.

Negotiators will try reviving the landmark Iran nuclear accord one last time before voters in the Islamic Republic head to the polls to elect a new president, one who’s likely to be less willing to make concessions.

The Biden administration will return to the Pentagon more than $2 billion that had been allocated for Trump’s border wall program. It’s the White House’s latest move to roll back the Republican’s controversial immigration policies.

Credit Suisse has canceled plans for a new fund managed by a high-profile, high-risk trading prodigy. The episode stands as a marker of the bank’s abrupt change in attitude after billions of dollars in losses stemming from the Archegos and Greensill meltdowns.

In financial terms, the Bill Gates and Melinda French Gates’ divorce is a split for the ages. Over 27 years, they’ve amassed a fortune of $148 billion that now has to be untangled—and the $289 million tied up in mansions is just the tip of the iceberg. Here’s what’s at stake.

What you’ll need to know tomorrow

The Trading Card King’s Record Breaking Year

Ken Goldin has been buying and selling trading cards since 1978, when he traded some electric racetrack cars for his friend’s collection of about 5,000 baseball cards, including ones featuring Hank Aaron and Willie Mays. The sports memorabilia industry is on track to see almost $10 billion in sales this year, most of which will come from trading cards, and Goldin is reaping millions in rewards.

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