Aug 26 update

Jerome Powell, chairman of the Federal Reserve, cautioned that inflation was still “too high” and said that America’s central bank would be prepared to raise interest rates again “if appropriate”. During an eagerly awaited speech at the annual conference at Jackson Hole, Wyoming, Mr Powell pledged to “proceed carefully” based on the available data. The Fed has raised interest rates from near zero in March 2022 to a range of 5.25-5.5% in July. But annual inflation was 3.2% last month—well above the Fed’s 2% target.

Vladimir Putin, Russia’s president, said it was a “complete lie” that his government was behind the private-jet crash on Wednesday that killed Yevgeny Prigozhin, head of the mercenary Wagner Group that mutinied in June, and nine others. He earlier described Mr Prigozhin as a “talented businessman” who had “made serious mistakes”. American officials are reportedly assessing the crash’s potential causes.

Instacart, an American grocery-delivery firm, filed for an initial public offering on the Nasdaq stock exchange. In its filing the firm reported net income of $242m in the first half of the year, but warned that it “may be unable to sustain profitability”. The proposed listing could help revive an IPO market that has been largely dormant since 2022.

France’s ambassador to Niger was asked to leave the country within 48 hours. Niger’s junta accused the envoy of refusing to meet the new foreign minister, who was appointed after a coup on July 26th. France’s foreign ministry said it had “taken note” of the expulsion order but said that the “putschists” lacked the “authority to make this request”.

Denmark plans to ban Koran-burning after far-right groups torched the holy book, souring diplomatic relations with some Muslim countries. A new law would ban the “inappropriate treatment” of objects with religious meaning, including the Bible and the Torah. Breaking it could lead to two years in prison. Opposition leaders have criticised Denmark’s government for curtailing free speech.

Hartwig Fischer resigned as director of the British Museum after a member of staff was sacked over a series of thefts. Mr Fischer said that the museum had failed to “comprehensively” respond to warnings it first received in 2021. Objects dating back as far as the 15th century BC, including jewellery and gems, are thought to be lost.

Members of the Spanish team that won the women’s World Cup last week said they would not play international football while Luis Rubiales remained the head of the country’s football federation. Mr Rubiales sparked outrage when he kissed the forward Jenni Hermoso on her lips after the World Cup final. He has refused to resign, saying the kiss was “consensual”; Ms Hermoso called his claim “categorically false”.

Word of the week: portrait parlé, or “speaking image”, the original name for the modern mugshot, which was invented in France. Donald Trump had his taken on August 24th. Read the full story.

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PHOTO: REUTERS

Liberation of Robotyne

As Ukraine’s counter-offensive approaches its third month, the front lines are showing glimmers of movement. On Wednesday Ukraine’s 47th Brigade, a unit that bungled the early thrusts of the offensive in June, raised its flag in the centre of Robotyne, a town that lies close to Russia’s main defensive line in the south. Robotyne is less than 25km from Tokmak, control of which would put Ukraine within artillery range of Russia’s supply lines to Crimea.

Though modest in terms of distance, the advance will give succour to General Valery Zaluzhny, Ukraine’s top general, who has faced increasing criticism from Western officials over his tactics. American officials have been downcast over the prospect of a breakthrough, arguing that Ukraine has left too many troops in the east and been over-cautious in the south. Ukrainians retort that they are focused on wearing down Russia methodically. Their ability to push on from Robotyne will be a key test of whether that attrition is yielding results.

PHOTO: REUTERS

America and China’s science pact survives, for now

Until late this week, it looked as if a 44-year-old technology agreement between America and China might come to an end. The Science and Technology Co-operation Agreement—signed shortly after the countries established full diplomatic relations—was approaching its regular five-year deadline for renewal, which falls on Sunday. China wanted to stay in, as did the Biden administration. But America’s Republicans have been fighting to end the pact. Some accused China of using the STA to “advance its military objectives”.

They did not get their way, at least not yet. As the deadline approached the Biden administration persuaded China to agree to a six-month extension, buying time to wrangle over the terms of the pact at home. That is fortunate. Although the STA only lays out a shared desire for collaboration, it has had both symbolic and practical value. Joint research enabled by the agreement has helped prevent birth defects and improve vaccines, among other achievements.

PHOTO: GETTY IMAGES

Racing for cycling greatness

In men’s elite road cycling, four events matter: the Tour de France, the Giro d’Italia, the UCI Road World Championships and the Vuelta a España. The last of these starts on Saturday in Barcelona, ending with a final ride into Madrid on September 17th.

Only two male riders have won three of these races in a year, a feat known as the triple crown. Eddy Merckx, a Belgian, took the Tour, the Giro and the World Championship in 1974; Stephen Roche, of Ireland, emulated him 13 years later. Forty-one have won two of the four, including defending Vuelta champion Remco Evenepoel, who also won the World Championships last year.

Two cyclists in this year’s Vuelta will hope to add their names to the list. Jonas Vingegaard of Denmark won the Tour this year for a second time. His team-mate and rival, Slovenia’s Primoz Roglic, won the Giro in May. Having taken the Vuelta in 2019, 2020 and 2021, Mr Roglic may have the edge in Spain.

PHOTO: MEL DIXON

Betty Davis’s legacy

When Betty Davis, an American singer, died last year aged 77, Rolling Stone magazine acclaimed her as a “Trailblazing Queen of Funk”. The reissue of four of her albums—all originally recorded in the 1970s—shows why. Showcasing an unabashed and self-assertive eroticism, and music combining funk, rock and soul, her work reveals an artist of extraordinary vision and lyrical ingenuity.

Although Davis is little known outside music circles, she holds legendary status within them. Artists such as Janelle Monáe, Erykah Badu and Beyoncé have cited her as an influence. Prince held her up as a musical role model. She was determined to control her work. Her sense of independence led her to refuse Eric Clapton, a rock-guitar great, when he offered to produce her. The desire to play by her own rules may also have cost her commercial success. Even so, she lives on as an inspiration, and in a collection of outstanding music.

PHOTO: GETTY IMAGES

Weekend profile: Vivek Ramaswamy, Republican insurgent

Mere moments after Wednesday’s Republican presidential-primary debate, a beaming Vivek Ramaswamy declared himself its victor. His “clear” win, he told ABC News, was all the more impressive considering that it was his first political debate.

Technically, that is true. Mr Ramaswamy, who has surged to third place in recent polls, is a novice presidential candidate. At 38 years old, he is up against seasoned Republican contenders, including Chris Christie, who graced the primary stage in 2016; Nikki Haley, who governed South Carolina while Mr Ramaswamy was still in law school; and Mike Pence, who has been running political campaigns since Mr Ramaswamy was a toddler. And yet it was the young upstart, not his seniors, who shared centre stage with Ron DeSantis, the main challenger to Donald Trump, and bore the brunt of the attacks.

For all the talk of inexperience, Mr Ramaswamy has been preparing his run for a long time. At Harvard, as an undergraduate, the student newspaper deemed him “debater-extraordinaire”. (On Wednesday Mr Christie, meanwhile, likened his oration to ChatGPT.) His projected persona—a brash, contrarian outsider—carefully draws on his experiences as the son of immigrants from south India, and as a practising Hindu who attended a Catholic school in Ohio. (His maverick shtick is more goofy than gritty: as a student he adopted a rapper alter-ego, “Da Vek”, known for busting out libertarian rhymes.)

His long-term ambitions have recently evolved into serious strategising. An 8,000-word New Yorker profile of him—at least six months in the making—was published in December (despite his wife claiming he only truly decided to run that same month). He has produced three books since August 2021, all of which he insists are “intellectual”, rather than “campaign”, works. He entered the race in February, shortly before the third was released.

All three hammer away at Mr Ramaswamy’s main political point: that woke capitalism is hypocritical and dangerous to America’s national identity. An ultra-conservative, he shares some of Mr Trump’s positions (such as dismantling much of the federal government) but diverges from him on others (such as protectionism). He insists he has no interest in serving in Mr Trump’s cabinet, were the former president to win again. If his popularity in right-wing circles continues to grow, though, he may be difficult to ignore.