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 Here is what you need to know. 1. World stocks are rallying after a trio of central banks cut rates and China calmed investors' nerves. China fixed its daily reference rate at a stronger level than analysts expected — although it still exceeded 7 yuan to the US dollar for the first time since 2008. 2. Trump will be ready with 'pen in hand' to sign a post-Brexit trade deal with Britain, says Mike Pompeo. Pompeo made the comment following a meeting with British foreign secretary Dominic Raab, a close ally of Prime Minister Boris Johnson, who is visiting Washington this week in a bid to strengthen bilateral relations. 3. Leslie Wexner, the billionaire behind Victoria's Secret, says disgraced financier Jeffrey Epstein misappropriated at least $46 million from him. In a letter to members of his namesake Wexner Foundation, the CEO and founder of L Brands, the parent company to Victoria's Secret, claimed that Epstein "had misappropriated vast sums of money from me and my family." 4. Farmers slam Trump's China tariffs despite billions spent on aid packages — 'farmers do not want a payout'."Farmers do not want to live on government payments," a farm group said. "They want certainty in markets so they can sell their goods for a good price." 5. Instagram's lax privacy practices let a trusted partner track millions of users' physical locations, secretly save their stories, and flout its rules. The marketing firm Hyp3r has been scraping huge quantities of data off the Facebook-owned app and using it to build up detailed profiles of people's movements and interests. 6. Adidas shares slip on disappointing sales figures. "Given the recent rerating in the shares since April and narrowing valuation gap versus peers, the lack of a sales or earnings beat is unusual and brand momentum remains concerning," Credit Suisse analysts wrote of Adidas. 7. China imported Iranian crude oil in July for the second month since a US sanctions waiver ended, according to research from three data firms. The flow is hampering Trump's efforts to choke off oil exports vital to Iran through sanctions, just as tensions rise in the festering China trade dispute. 8. Global stocks are rallying today. US futures are up with the S&P 500 (+0.4%) and Nasdaq (+0.5%) both rising. Europe opened strongly, with the Dax (+0.8%) and Euro Stoxx 50 (+1%) both rising. Asia rallied on close with the Nikkei 225 (+0.4%), Shanghai Composite (+0.9%) and Hang Seng (+0.4%) all gaining. 9. Earnings season continues. Today's highlights are Uber, Dr Pepper Snapple, Kraft Heinz and CBS. 10. There's some interesting data out later. Initial and Continuing Jobless Claims is the highlight. | 
