Vladimir Putin managed to avert an attack on Moscow with an eleventh-hour deal with his mutinous mercenary commander. But the uprising has pierced his aura of total political control over Russia unlike any other event in his nearly quarter century in power.

US and European officials privately described the 24-hour uprising — advance indications of which their intelligence also picked up — as an unprecedented challenge to the 70-year-old president’s control. Read The Big Take: https://bloom.bg/3qRu7Qf

Outperforming: India’s consumer technology stocks are on a tear this year, handsomely beating their larger rivals in China and widening the divergence between two of the world’s largest equity markets. https://tinyurl.com/2f7vky5h

Global fragmentation: China’s Premier Li Qiang warned governments against politicizing their economies saying it would only fragment the world, in a keynote speech to global business leaders. https://tinyurl.com/ye2am3h3

Wider adoption: Mizuho Financial Group is giving all its Japan bank employees access to Microsoft's Azure OpenAI service this week, making it one of the country’s first financial firms to adopt the potentially transformative generative AI technology. https://tinyurl.com/2p93sz8m

Deepening tech push: The newly appointed chief of Vedanta Resources is seeking to hire global talent to build and run a $4 billion display factory in western India. https://tinyurl.com/jxdeernc

Discounted splurge: Russian oil accounted for nearly half of India's oil imports last month, compared to less than 2% before the invasion of Ukraine. The question today is whether the purchases can keep going as discounts narrow. https://tinyurl.com/4e9k477m

Protecting investors: China's Xi Jinping pledged that his nation would do right by foreign investors, underscoring his government’s attempts to assuage worries about the economy and unpredictable policymaking. https://tinyurl.com/bdhv994n

NEW: The Qatari group led by Sheikh Jassim is increasingly confident it's won the bidding war for Manchester United, thwarting a rival offer from British billionaire Jim Ratcliffe https://trib.al/N1Dn7JL

The war has cut Moscow adrift from Europe, its biggest gas export market. So what has Russia — which has the largest reserves in the world — done with all that spare gas? https://tinyurl.com/3pu5tjwh

Should you bet on Bitcoin, AI stocks or bonds? Here's where to invest $1 million right now, according to five experts https://tinyurl.com/nt9k3mn8

Crypto's most powerful woman isn’t known to many, but Yi He was instrumental to Binance's rise. Now as the firm comes under threat, she's speaking out. https://tinyurl.com/3k5cb32s

BREAKING: The US Supreme Court sharply limited the use of race as a factor in university admissions, marking the start of a new era in higher education and rolling back decades of precedents that had allowed affirmative action programs. https://trib.al/6hAe19K

JUST IN: Pakistan clinches an initial approval from the International Monetary Fund for a $3 billion loan program, lowering the risk of a sovereign default https://trib.al/aMpEFf0

Multiple lapses: US Food and Drug Administration officials found multiple faults at a plant run by one of India’s biggest drugmakers as the watchdog continues to unearth wide-ranging lapses across the country’s factories. https://tinyurl.com/mun6std4

New banking giant: A homegrown Indian company will for the first time rank among the world’s most valuable banks after completing a merger, marking a new challenger to the largest American and Chinese lenders occupying the coveted top spots. https://tinyurl.com/h8aw6tfz

Hidden reserve: China is sitting on a $6 trillion pile of money, half of which is “hidden,” and that presents a new kind of risk to the global economy, according to American economist Brad Setser. https://tinyurl.com/yr3ejm42

The US Supreme Court tossed out President Joe Biden’s plan to slash the student debt of more than 40 million people, rejecting one of his signature initiatives as exceeding his power. https://trib.al/lrche6u

Apple made Wall Street history as the first company with a market value over $3 trillion, the latest sign of big tech’s seemingly unstoppable dominance in equity markets. https://trib.al/24JJlKK

India-Singapore trading: Derivative contracts with a notional value of about $7.5 billion traded in Singapore will shift to India as a cross-border trading link between the two Asian countries’ top bourses gets fully operational on Monday. https://shorturl.at/dmqxN

Pakistan caught in deadly climate cycle: Severe flooding in Pakistan last year killed over 1,700, displaced 8 million and cost the economy more than $30 billion. As new rains threaten the same areas hit by last year’s floods, Pakistan finds itself at the mercy of a pernicious pattern: Climate change is driving more intense rainfall, which drives more intense flooding, which stymies recovery from past floods. https://shorturl.at/lnuzJ

Modi's nationalist India: As India increasingly asserts itself as a global power, Prime Minister Narendra Modi has urged the citizenry to shed a “mentality of slavery.” His plans include a controversial $2 billion project to modernize the capital and soften the influence of foreign aesthetics. https://shorturl.at/gstXY

The world’s 500 richest people added $852 billion to their fortunes in the first half of 2023.

Each member of the Bloomberg Billionaires Index made an average of $14 million per day over the past six months, according to data compiled by Bloomberg. https://trib.al/WgN4buX

Instagram’s highly anticipated Twitter rival is expected to launch Thursday, according to a listing on Apple’s App Store.

The app, called Threads, will function similarly to Twitter, with text-based posts that can be liked, commented on and shared, according to examples of screenshots on the App Store listing. People will be able to follow the accounts they follow on Instagram and keep their same user name. https://trib.al/LUYdnY9

Raw deal: A $64 billion merger of two big Indian lenders is yielding almost no fees to financial advisers, highlighting investment bankers’ struggle for profits in the country. https://shorturl.at/ku138

Ripple effect: The stellar performance of Mankind Pharma since its listing in Mumbai in May could trigger more consumer-related initial public offerings in India in the second half, according to bankers. https://shorturl.at/mEG05

Fliers bear the brunt: Airline passengers in the world’s fastest-growing aviation market are experiencing frequent flight delays during the summer rush as plane and staff shortages hit carriers. https://shorturl.at/chY09

Global temperatures hit a record on Monday, underscoring the dangers of ever-increasing carbon emissions generated from burning fossil fuels.

The average worldwide temperature was 17C (63F), just above the previous record of 16.9C reached in August 2016, according to data from the National Centers for Environmental Prediction. The new high underscores the extremity of 2023’s summer in the northern hemisphere. https://trib.al/KWyfGuU

Countering China: Africa has become the second-largest recipient of credit from India as the country tries to catch up with China in expanding its influence in the resource-rich continent. https://tinyurl.com/3phcasus

Testing limits: As global temperatures hit record highs, heat waves are more frequent and acute. Here's everything you need to know about the impact of extreme heat and humidity. https://tinyurl.com/2p8d8zfx

Return to India: HSBC said it began private banking operations in India, marking a return to the market as Europe’s largest lender seeks to serve the nation’s growing rich. https://tinyurl.com/mu2p5spm

Nuclear worries: Concerns are intensifying that the Russian-occupied Zaporizhzhia nuclear reactor in southern Ukraine could be the target of fresh attacks. https://tinyurl.com/bd733bb4

Calling reinforcements: Russia is preparing to send more Chechen fighters and convicts to Ukraine to fill holes left by Wagner mercenaries that were pulled from the battlefield, European intelligence officials believe. https://tinyurl.com/3r7bub3v

Currency curbs: Ukraine is gearing up to ease wartime limits on foreign currency in order to spur the economy. https://tinyurl.com/ms4yk8nu

Perils of digital India: A rise in cyberattacks poses a vital risk to India’s economic ambitions, with industries from manufacturing to pharmaceuticals becoming more vulnerable as they digitize operations, according to a Google subsidiary. https://t.ly/NG1U

Road to recovery: Sri Lanka cut its benchmark rate for the second consecutive meeting as faster disinflation gave policymakers the space to focus on recovery from the worst economic crisis in seven decades. https://t.ly/e_QU

Rising wealth: India will see a five-fold increase in its ‘super rich’ families by the turn of the decade and a large chunk of the growth will come from rural areas — home to the nation’s poorest, according to a study. https://t.ly/Fvhe

Slow start: India’s year-old campaign to boost the rupee’s role in cross-border payments has made little headway, sources say, underscoring the challenges for countries trying to reduce their dependence on the dollar. https://shorturl.at/cfsJ8

Food inflation: Indian tomato prices are soaring due to adverse weather, triggering a wave of social media memes comparing the cost of the essential ingredient with anything from petrol to political influence. https://shorturl.at/elKZ2

Threat to startups: One of India’s biggest venture capital firms is turning more cautious in its investment strategy, alarmed by crises at homegrown startups such as ed-tech leader Byju’s. https://shorturl.at/ctGR4

Banks to shine: Banks and consumer companies are expected to drive first-quarter earnings in India, boosted by accelerating economic activity and decade-low bad loans at lenders. https://tinyurl.com/scfea9af

Production tensions: Europe is unable to supply Ukraine with weapons fast enough, as defense contractors ask for long term government guarantees of sales. Read The Big Take. https://tinyurl.com/yc4a72kr

Economic guardrails: Treasury Secretary Janet Yellen’s two-day engagement with top officials in Beijing offered a way for the US and China to contain damage in their economies from the two nations’ intensifying rivalry. https://tinyurl.com/yc8n59xy