Greetings! Happy National Coaches Day to those celebrating.

Let’s get into today’s top stories.

🇫🇷 France’s government collapses in record time. France’s new cabinet imploded in roughly half a day, after Prime Minister Sébastien Lecornu tendered his resignation just hours after naming a government, leaving President Emmanuel Macron scrambling for a viable lineup and a legislative pathway. The speed of the unraveling highlights a thinned coalition, fractious partners, and a National Assembly where durable majorities are scarce. Investors dislike vacuums: budget timelines, EU coordination, and reform calendars now face fresh uncertainty heading into the autumn session. Opposition parties quickly framed the whipsaw as proof that Macronism has entered a lame-duck phase, even if the presidency’s formal powers remain intact. Policy continuity on pensions, migration, and climate targets now hinges on caretaker endurance and deal-making in committee rooms. The Élysée promised a rapid reset, but “rapid” is doing a lot of work in a fragmented chamber. Markets, unions, and Brussels will read the next cabinet list as a stress test of the president’s remaining leverage.

🇮🇶 Iraq’s amnesty law frees 35,000 and recovers $34.4 million per judiciary. The Supreme Judicial Council reported that a sweeping amnesty has released about 35,000 prisoners while clawing back roughly $34.4 million linked to corruption cases, positioning the move as both a decongestion measure and a governance signal. Authorities said those convicted of terror offenses remain excluded, and prosecutors continue to review dossiers for eligibility and restitution. Human-rights groups welcomed relief for low-level offenders while urging transparent criteria and post-release support to reduce recidivism. Economists note that freeing tens of thousands of working-age Iraqis could marginally lift labor participation, but only if reentry programs and local job markets can absorb them. Anti-graft advocates called the recovered funds a start, not a finish, given multi-billion-dollar leakages identified in past audits. Politically, the law gives Baghdad a short-term win on prison overcrowding, while inviting scrutiny on who qualified and for what reason. Looking ahead, the Council’s figures will frame parliamentary oversight hearings in the coming weeks.

🏛️ Trump signals openness to a health-care bargain on sixth day of shutdown. After more inconclusive Hill meetings, the White House floated a potential health-care trade: targeted cost relief in exchange for near-term funding, to tempt enough votes for a stopgap. The posture shift acknowledges mounting frictions from furloughs, paused grants, and a data blackout that complicates economic planning. Congressional leaders remain split over policy riders, especially on immigration and agency rules, limiting the odds of a clean continuing resolution. Hospitals and insurers, staring at administrative delays, warned that even a short lapse can ripple into reimbursement cycles and winter scheduling. Economists typically shave fractions off quarterly growth during multi-week shutdowns due to procurement and permitting freezes. Markets so far have treated the drama as theater with cash flow, but bill auctions and rate volatility are sensitive to duration. If a deal materializes, watch the fine print on what “health-care” means: drug pricing pilots, site-neutral payments, or insurance flexibilities.

⚖️ Chicago sues to block National Guard redeployments. The city of Chicago and the state of Illinois filed suit to stop the administration’s plan to send Guard units to Oregon under federal control, arguing the process sidestepped required consultations and risks public safety at home. The complaint tees up a constitutional tug-of-war over the Guard’s dual status and the breadth of executive authority. City lawyers say the reassignments will strain policing and emergency response, while the administration cites threat assessments to justify the shifts. Legal scholars expect expedited briefing given the operational timelines and troop rotations already in motion. Politically, the case lands inside a broader debate over how federal muscle should be used in immigration and protest contexts. Budget writers warn that even short diversions can trigger overtime spikes and training disruptions. A preliminary injunction decision will signal how much judicial appetite there is to referee intergovernmental turf fights.

🏭 OpenAI and AMD ink a multiyear chip-supply pact to fuel AI demand. The companies announced a supply partnership aimed at scaling data-center capacity for large-language models, a vote of confidence in non-NVIDIA silicon for future buildouts. The deal arrives as hyperscalers juggle power constraints, supply bottlenecks, and surging inference costs across fast-growing workloads. For Advanced Micro Devices ($AMD), guaranteed demand helps de-risk ramp cycles and fortify a roadmap that already leans on accelerator wins; for OpenAI, diversified sources reduce single-vendor exposure. Regulators are watching antitrust, export controls, and safety standards that could reshape AI economics, particularly if chip access becomes a policy lever. Analysts noted that unit costs, energy efficiency, and software stacks will determine whether second-source strategies actually lower total cost of ownership. The near-term read: more capex, more cages, and more transformers humming on the edge of the grid. Expect follow-on deals as competitors race to lock down supply.

🏈 Ex-NFL QB Mark Sanchez charged with felony after alleged parking dispute. Police said the former star quarterback faces a felony count following an altercation that left another man with stab wounds; the Rose Bowl MVP’s attorney did not immediately comment. The incident, which authorities describe as stemming from a parking argument, adds to a periodic off-field pattern where post-career headlines involve legal trouble. Prosecutors will consider surveillance footage and witness statements as they decide on additional charges. The case will test how quickly the court can move amid a clogged calendar, especially if the government shutdown slows some ancillary functions. For Sanchez, who has worked in broadcasting and coaching roles after his professional career, any conviction could affect licensing and future employment. Victim condition updates and a possible plea timeline are expected in the coming days. The arraignment will set the tone for where this story goes next.

Help better understand our audience. Take this 1-minute survey here so we can provide our community with the best content, news, and stories that matter to you most.

Feel free to reply with your feedback. PM reads and responds to every email. :)

That’s all for today!

Much obliged and many thanks for reading and sharing today’s newsletter.

See you tomorrow!