After two years of painfully high prices, inflation in the United States has reached its lowest point in more than two years — 3% in June compared with a year earlier — thanks in part to easing prices for gasoline, airline fares, used cars and groceries

It lingered on, but the deal had been all but sealed for months. Lewis Hamilton was always extending his stay at Mercedes – where he has claimed six of his seven world titles – and George Russell has joined him in parallel. Particulars of salary and contract length, with Hamilton reportedly receiving a £10m increase to £50m a year, show the gargantuan regard in which he is still held. No barren year or two is going to change that. But Hamilton’s contract announcement came with a message. A series of them, in fact. A press release hammered home the same beat. “We have never been hungrier to win”; “we continue to chase our dreams”; “unfinished business.” Words with substance behind them not just for the fans, but for the Mercedes engineers and mechanics at Brackley and Brixworth. Frankly, it may as well have read: “Give me the car to win – and I’ll make it happen.” But it was a sharp prod in the direction of Max Verstappen, his 2021 nemesis and current runaway leader, which really rippled the currents ahead of this weekend’s Italian Grand Prix at Monza, where Verstappen is chasing a record-breaking 10th win on the spin. “In my personal opinion, all my teammates have been stronger than the teammates Max has had,” Hamilton said, less an opinion and more a matter of fact. “Jenson, Fernando, George, Valtteri, Nico. Absolutely. Those guys were very strong and consistent. Max isn’t racing against anyone like that.” It is the sort of needle, a vital statement of intent, which has been missing from Hamilton’s repertoire since that infamous night in Abu Dhabi; the night a record-breaking crown was, in his words, “stolen” from his grasp. Mercedes’ hair-raising fall, coupled with Red Bull’s unrelenting ascendancy, has only exacerbated the sheer anger and exasperation which Hamilton must have experienced behind closed doors and, at times, in real time on team radio. Amid the 2022 season, it all inevitably raised bigger questions about his future. Will he retire? Is the fight still there? Can No 8 still be achieved? Throughout rumours which included a fairytale-esque switch to Ferrari, Hamilton’s response has been unequivocal. Despite the to-ing and fro-ing between representatives regarding his contract, his prophecy unmistakable. Mercedes is the place he wants to be – and he’s here to stay. The hard work for Toto Wolff – whose jadedness in the last 18 months has been obvious – and his team starts now. Wolff’s effective second in command Andrew Shovlin this week emphasised that they are targeting “challenging for a championship next year”. He added: “We’re optimistic we can do that… our entire focus is on making sure we can challenge them next year.” “Them” of course means Red Bull. A team – spearheaded by design guru Adrian Newey – who have maxed (no pun intended) out their potential during this ground-effect regulation era, creating the quickest car on the grid and one made in perfect harmony with their leading driver. A team which has won all 13 races – 16 including sprints – this season. A team which will take some catching. But in Formula One, a sport where every minute detail counts against the clock, a hefty deficit can gradually be eroded. Mercedes bungled their car philosophy last year with their unorthodox “no-sidepod” approach, before bungling once again by persevering with it at the start of this season. Only Monaco in May, race six of 2023, saw a more conventional car out on the tarmac. Yet despite brief flirtations with the top of the standings and Hamilton’s first podium in more than 18 months, their W14 remains some way off Red Bull’s RB19. This time, heading into 2024, there can be no excuses. A shift in the boardroom, with ex-Ferrari chief James Allison reverting to a more hands-on role, swapping with Mike Elliott who shifted back to base, is also an indicator of an evolving approach. For the next few months and the off-season, the priority is next year as opposed to short-term progress this season. Even then, 2024 may come too soon. Red Bull’s superiority – not just over Mercedes, but Ferrari, Aston Martin and McLaren too – is so vast that catching them will be unlikely. 2025, the last year of these current set of rules, may be a more realistic prospect. Building sustainable blocks, though, is paramount. No championships can come about without race-winning consistency first. It may explain why Hamilton, who will now race in Formula One to the eve of his 41st birthday, has once again committed to a two-year deal. The past 18 months have also shown that Russell is closely matched with his compatriot: in-house competition which should only help in the car development phase. But Hamilton has set his stall out. The 38-year-old goes by a fundamental motto: “Still we rise.” For every knockback comes a fresh challenge and opportunity to return better than ever before. Fernando Alonso’s renaissance this year, at 42, shows age is no obstacle either. His quest to be the statistical greatest of all time remains very much alive. But first, before any realistic title aspirations, Mercedes must give him the machinery to challenge. We now all wait to see how soon that could be. Read More Fernando Alonso makes Lewis Hamilton claim: ‘I’d stay with him until he’s 80 years old’ Max Verstappen shrugs off criticism: ‘They cannot appreciate dominance’ Lewis Hamilton signs new Mercedes contract Carlos Sainz fastest in second practice for Italian GP but Lewis Hamilton 17th Max Verstappen fastest in Italian GP first practice as he chases history ‘They cannot appreciate dominance’: Max Verstappen shrugs off criticism

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A bevy of possibly market-moving events are in store for investors this week.

I’m a snob about two things in life: sushi and linens. The first one is…self-explanatory, but my penchant for luxurious towels and sheets is rooted in my belief in everyday luxuries: When you spend a non-insignificant portion of your life either asleep or showering, it’s an understatement to say that those small things add up. And then there are the rarer moments in life, like a tropical vacation, where treating yourself is not the exception, but the rule. Fortunately, when it comes to both beach and bedding, Peacock Alley has you covered.

Money raised from the album will go towards creating a running water supply for a Maasai village.

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A party ally of far-right Dutch election winner Geert Wilders has quit his role in the building of a new governing coalition over a fraud allegation

Uefa will take no action on an astonishing request by the Royal Spanish Football Federation (RFEF) to be expelled over the Luis Rubiales crisis, as the federation president now faces an investigation from Spanish prosecutors for sexual assault. In other developments of a story that even Uefa officials were describing as “absurd” and “stranger by the moment”, Rubiales’ mother Angeles Bejar locked herself in a church to go on hunger strike, with police and doctors eventually intervening. Such details have stunned even the most experienced people in football, but it is the request to the European body that is being seen as the most significant, given it sums up how surreal the story has become. With Rubiales facing a series of official complaints and a government process that could yet see him banned from sport in Spain for two to 15 years – to go with his current 90-day suspension from Fifa – the federation sent a request to Uefa to be expelled for breaking Uefa’s own statutes on state interference. Expulsion would mean clubs including Real Madrid and Barcelona kicked out of European competitions such as the Champions League. The move has been interpreted as “bluster” and “brinkmanship” by the federation in order to support Rubiales, but it would still involve all of Spain’s club and national teams being removed from competition, denying them of income and – in the words of one – “setting Spanish football back years”. The Independent has been told that Uefa will not take action and that the government’s involvement does not meet the criteria for state interference. Victor Francos, the president of Spain’s Higher Council for Sport who has become a central figure in this situation, stated on Monday that all of the relevant bodies are “acting within the regulations as they stand”. Rubiales being punished according to regulations and rules is different to the government just ousting him, which it cannot do, and has created an almost Kafkaesque circus over what remains a serious issue. Underpinning it all has been this Spanish government’s willingness to take on issues of equality and sexual harassment. On that, the Spanish Prosecutors Office will ask Jenni Hermoso if she wishes to press charges against Rubialies, after she stated that the kiss was not consensual. It was that statement which led Rubiales’ mother to go on hunger strike in a church in his home town in Montril, demanding that Hermoso “tell the truth” about the incident. There have also been public accusations from one of Rubiales’ cousins that the Spanish midfielder changed her story – something that did not happen. All of this comes amid Fifa’s directive that Rubiales not contact Hermoso or her family, to go with the 90-day suspension. Spain's Administrative Court for Sports has meanwhile been meeting all Monday to examine four complaints against Rubiales. Should it decide to open proceedings, it could mean the official is suspended for even longer than Fifa's 90-day provisional punishment. In that event, the Spanish government has confirmed it would take action. “If the court upholds the complaint and begins to process that case, we can request the provisional suspension of the president of the RFEF until TAD finishes analysing it and takes their decision,” Sports Minister Miquel Iceta said on Friday. Also on Monday morning, Spanish player’s union Futpro – representing Jenni Hermoso – further clarified Hermoso’s stance while describing a “structural problem” in the Spanish federation. “Those who applauded Rubiales, [at the assembly] in my opinion, should not continue in their positions.” While Rubiales’ position as vice-president of Uefa has itself led to criticism of the European body for a lack of comment, Uefa president Aleksander Ceferin has been in constant contact with Fifa. The position is that since the events fall under the disciplinary jurisdiction of Fifa – because the World Cup was a Fifa event – it was agreed that Fifa’s disciplinary bodies would handle the case, something Uefa does not feel it should comment on. The global football representative body FifPro is meanwhile yet to receive an official response from Uefa to a letter sent on Friday requesting disciplinary action against Rubiales. Read More Luis Rubiales’ mother locks herself in church and goes on hunger strike Luis Rubiales news LIVE: Police investigate president for alleged sexual assault Spanish FA launch ‘sexual violence protocol’ against Rubiales ahead of urgent meeting Spanish football’s ‘MeToo moment’ is a mirror for the entire game Spain coaching team quits over Luis Rubiales row – but manager backs president Fifa suspends Luis Rubiales and coaching staff walk out over World Cup kiss row