Every day is a test for Biden

Plus, bodies trapped in Gaza City under Israeli assault.

Sign up for Reuters newsletters  Daily Briefing Daily Briefing By Edson Caldas Biden faces growing calls from members of his Democratic party to drop his re-election bid, NATO leaders will end their summit with a clear focus on backing Ukraine, and faster economy growth gives a gift to Britain's new government. But first, Israel presses on with its offensive in Gaza. Today's Top News   Buildings lie in ruin after Israeli forces withdrew from Shejaiya neighborhood, July 10, 2024. REUTERS/Dawoud Abu Alkas Middle East Residents of Gaza City are trapped in houses and bodies lie uncollected in the streets under an intense new Israeli assault, even as Washington pushed for a peace deal at talks in Egypt and Qatar. Michael Georgy joins today's Reuters World News podcast with the latest on the negotiations. A massive operation to truck oil from Kurdistan to Iran and Turkey in murky, off-the-books transactions boomed since an official export pipeline closed last year. Reuters pieced together the details of this flourishing trade. NATO summit The United States will start deploying longer range missiles in Germany in 2026, the two countries announced in Washington. The decision will send Germany the most potent US weapons to be based on the European continent since the Cold War. NATO leaders will end their summit with a clear focus on backing Ukraine and countering what the allies say is the growing threat Russia poses to Europe. China criticized a draft communique that described it as decisive enabler of Russia's war effort. In other news US President Joe Biden will try to head off growing opposition within his own party, sending out his advisers to meet with senators to shore up their support and holding his first solo news conference in almost eight months. Every day is a test for him. A housing crisis in Spanish cities is driving a rise in homelessness. The situation has been exacerbated by a boom in holiday lets on platforms such as Airbnb and Booking.com, which has spurred a wave of protests in recent weeks. South Korea will use laser weapons to shoot down North Korean drones this year, becoming the world's first country to deploy and operate such weapons in the military. The country has called its laser program the "StarWars project". Business & Markets   Britain's economy grew more quickly than expected in May, providing some momentum for the new government of Prime Minister Keir Starmer but adding to doubts about the possibility of a Bank of England interest rate cut next month. In more news from Britain, the country's markets watchdog set out final rules for the biggest shake-up in how companies list on the London Stock Exchange in three decades as it seeks to compete harder with New York and the European Union post-Brexit. The yen has been sliding to fresh 38-year lows day by day, with market participants on alert for Japanese authorities to step in again, as they did in March, to defend the currency. But a few factors might explain their restraint. Today's US inflation report could test markets, with consensus coalescing around the first Fed rate cut of this cycle in September. The consumer price report for June is expected to show an annual change of 3.1%, moderating from 3.3% the prior month. And for more on interest rates, listen to this week's Reuters Econ World. Apple will open its tap-and-go mobile payments system to rivals, EU antitrust regulators said, ending a four-year long investigation that could have resulted in a hefty fine for the iPhone maker. Archegos Capital Management founder Sung Kook "Bill" Hwang was convicted of fraud and other charges at a criminal trial in New York in the wake of the 2021 collapse of his $36 billion private investment firm. Here are famous Wall Street figures who have been sentenced to prison. Inside Goldman Sachs' expanding but risky financing engine   Goldman Sachs global headquarters in Manhattan. REUTERS/Adrees Latif A Goldman Sachs bet put in place in 2021 on lending to private funds has helped drive record revenues in fixed-income financing. Now, the Wall Street bank is pushing even deeper into the growing but risky market. Read more And Finally... Beauty buffs can now thank AI for the perfect foundation shade. REUTERS/Kim Soo-hyeon Customers have booked out South Korean cosmetics giant AmorePacific's AI beauty lab, where robots custom mix products and the latest technology recommends the most suitable lipstick colors. "Knowing more data about my own skin, and seeing the before-and-after firsthand, is a very good experience," said Kwon You-jin, a 32-year-old customer at the firm's bespoke skin cosmetics service. 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