Welcome back to good morning and working week. What are we covering here today:

• Trump Budget Bill Crunch faces Senate

• Canada scrap take tax

• Hedge Fund ‘Private Credit pushed

• And the beginning of Wimbledon

The Senate will start voting on Donald Trump’s historic tax and today on amendment in spending bills. Here you should know what you should know after a terrible weekend of arguing on the “big beautiful bill”.

A recurrence: The debate was almost no. The Senate agreed to start deliberations on Saturday after intervention by President and Vice President JD Vance. Democrats demanded a completely reading of the 940-hit bill on the Senate floor and Northern Carolina Republican Senator Thom Tilis said that he would not seek the election again next year after voting against opening the debate, a fierce reaction to Trump threatened him with a primary challenge. Meanwhile, the budget office of the non-Pakistani Congress published its latest estimate of the bill cost for national loans yesterday, in the next decade, in the next decade to take it beyond the high level of the second world war. This figure is disputed by Republican.

why it matters: This bill will fund the expansion of the comprehensive tax deduction initiated in the first term of Trump by spending on healthcare and social welfare programs. It will also increase expenditure on military and border security. But Democrats and some Republicans say that the cut in planned expenditure will cut access to medicade services for the poor. Bill passed a vote in the last month’s House of Representatives, which was later last month and now faces a possible marathon polling current in the Senate. Once the Senate passed the bill, it would have to return to the House for final approval before being sent to the White House for the President’s signature. Trump has said that he wants the bill to be a public holiday in the US on Friday. You can read more on weekend events Here,

And here what else are we doing today:

• Market: American stocks are expected to open in a positive field, After a record high closure on FridaySeveral days after the President announced the “mutual tariff” schemes, the S&P500 27 percent has increased since the 15 -month Intrade low on 7 April.

• Interest Rates: Rafael Bstic, President of the Federal Reserve Bank of Atlanta, speaks on the Economic Outlook and Monetary Policy and the Federal Reserve Bank of Chicago, the chairman of the Federal Reserve Bank of Chicago, participates in a Moderate Question-Answer Session before Auston Gulasbi Aspen Idea Festival.

Five more top stories

1. Canada has abolished a digital service tax that has targeted American technology companies, After Trump, the levy described as a “direct and clear” attack in an attempt to smooth business talks with his neighbor. Decision to give up the allegation of 3 percent A few hours before levy came under influence,

• Q&A: Canada correspondent Ilya Gridnef The future version of the First America will have to answer the questions of the readers on the US-Canada relationship. Please send them to firstft@ft.com or hit the answer if you are reading this newsletter in your inbox.

2. Donald Trump says he has found “group of rich people” to buy Tikok’s American operations. As part of efforts to separate its ownership from China. “I will tell you in about two weeks. It is a group of very rich people,” he said on Fox News yesterday. Here’s more who can be buyers,

• Nvidia: Inner sources are sold More than $ 1bn Among the company’s stock in the last 12 months. According to Forbes, Jensen Huang’s net value is now $ 138bn.

3. Big hedge funds are pushing in private credit Since they want to establish themselves as diverse financial institutions with Millennium Management, Point 72 and Third Points, which aim to launch all new funds and strategies. Read full story,

4. The return of Wall Street has dramatically limited the difference with European shares. Better performance of American stocks is betting on the President’s trade policies, especially a permanent rotation in other markets, especially Europe. “European problem has always been earning, earning, earning,” A fund manager said,

5. China’s export controls are spreading to products beyond rare earth And magnets, threatening the disruption of the comprehensive supply chain and the US claims that a new business deal resolved delay in shipment. Edward White has more details than Shanghai,

• More on rare earth: European industrial groups are turning to France because they try Cut dependence On China for important minerals.

• Chinese economy: Beijing could not get away from dozens “choke points” These are essential construction blocks of modern manufacturing.

Intensive news

As the enemies closed, a secret nuclear program was made deep underground, which was preserved with American eyes. At least one underdeveloped nuclear device was built in a hurry. It was Israel in 1967, when she faced an existential threat. But the story is not so different for Iran today, which has to face the same question: Sprint for nuclear weapons to make a measure of final prevention, or Retreat from the verge,

We are also studying. , ,

• Trump Shock? The real surprise is that, despite their policies and the turmoil of the Middle East, American stocks are still growingRuchir Sharma writes.

• Financial suppression: One Economic policy war Martin Sandu writes, fuel has begun by the state’s activism in shaping the capital flow.

• Boomerang Bankers: Incidents of people who walk away from industry only to return The more you can think is more common thanCraig Cobain writes.

• Business Books Round-Up: Youth workers are reaching the top, managing crises, and advised on the leading lead – here is a pick of this month. Business books,

Day chart

Tourists of Europe are hanging for hotspots A record number of visitors in this summer As Holidackers give birth to America and Middle East. Analysts say, while, partially for European holidays, the visitors are responsible for the increase in the visitor numbers in the top sites of the continent, the main reasons are the strong post-pandemic bounceback in the US visitors.

Take a break from news

Today is the beginning of Wimbledon, which is the only Grand Slam tennis tournament played on grass. FT Globatotter has produced This guide For men and women competing for two top trophies of tennis and a familiar facility It will be absent This year.