Good morning. In recent weeks, Bangladeshi garment-factory owners have been on the phone with Western clothing brands, making the case that their country is a stable link in their supply chains. It has been a tricky sell.

• Change in government: On Sunday, deadly clashes killed at least 85 people, after weeks of tumultuous demonstrations that led the government to impose curfews and cut off the internet. Prime Minister Sheikh Hasina resigned and fled the country. Muhammad Yunus, a Nobel laureate and economist who pioneered microcredit, took charge of a caretaker government Thursday and appealed for calm.
   
• Impact on clothing industry: This time around, an industry body for the $38 billion clothing-export sector estimates the exporters have lost six days of production because of unrest that erupted in mid-July, though other factory owners say the loss is closer to twice that much time.
   
• Improving conditions? With the situation now stabilizing, many factory owners say they have managed to get their factories back up and running, and workers have been eager to return to work and earn their paychecks.
   
• Longer-term issues: Industry analysts say that the combination of recurring bouts of instability, higher wages and long-term problems—such as Bangladesh’s infrastructure being significantly worse than rivals like China and Vietnam—are gnawing at the country’s competitiveness.

Elon Musk’s wild week in the name of free speech.

It’s not OK to yell “fire” in a crowded theater. But what about tweeting “civil war” during a moment of U.K. unrest on your social-media platform X? That’s the question for Elon Musk this past week.

The chief executive of Tesla and SpaceX has fashioned himself as something of a modern day Larry Flynt: a rich guy willing to spend his own fortune as a defender of free speech even if it is offensive to many. 

As governments around the world pursue social-media content regulation, Musk is fighting back on free-speech grounds. But sometimes he doesn’t seem to help his cause, for example when he amplifies incorrect information or embraces messy memes and social-media characters with their own baggage.

Foreign TikTok networks are pushing political lies to Americans.

Intelligence officials have warned that the 2024 presidential contest could face an unprecedented flood of fake news, fueled by AI, from foreign actors. A Journal analysis of videos on TikTok has found it’s already happening.

These viral foreign networks are hijacking TikTok’s well-honed engagement machine with false and sometimes incendiary claims, and their intent or who’s behind them isn’t clear. TikTok says some are looking for profits. Cybersecurity experts say such groups often aim to cause chaos.

U.S. adds to Belarus sanctions, targeting 19 officials.

The U.S. Treasury Department on Friday said it is ratcheting up sanctions on Belarus in response to President Alexander Lukashenko’s continued support for Russia's war in Ukraine.

The U.S. Treasury Department announced new sanctions against 19 officials in Lukashenko’s regime, along with 14 entities, including several companies that support Belarus's defense industry. The U.S. measures follow similar sanctions from the European Union, the U.K. and Canada.

“As Belarus marks another year under [Lukashenko’s] rule, the regime’s blatantly corrupt, destabilizing and anti-democratic acts—along with its continued support for Russia’s illegal invasion of Ukraine—have only further ostracized Belarus from the global community,” said Acting Treasury Undersecretary Bradley Smith.

• Intelligence officials have warned that the 2024 presidential contest could face an unprecedented flood of fake news, fueled by AI, from foreign actors. A Journal analysis of videos on TikTok has found it’s already happening.
   
• Death of a former Green Beret at Bank of America is sparking an outcry about the all-nighters and 100-hour weeks that grind down young investment bankers.
   
• Crypto fans have an idea to burnish the stature of digital tokens: Establish a U.S. bitcoin reserve, similar to the country’s gold reserve.
   
• Canada’s labor-relations board again opened the door to a possible work stoppage at the country’s two big rail operators after determining a strike or lockout doesn’t pose an immediate or serious danger to safety or public health.
   
• Three Columbia University deans, who were placed on indefinite leave last month over insensitive text messages they sent during a panel about Jewish life on campus, are resigning, a university spokeswoman said Thursday.
   
• The Food and Drug Administration turned down an ecstasy-based drug.

China’s nightmare: A second trade war with Trump.

China was bruised by its trade war with the U.S. under President Donald Trump, but ultimately bounced back. If Trump wins the White House in November, round two will be much tougher.

The Republican nominee has said he would raise tariffs on Chinese imports to 60% or more if he wins this year’s presidential election. The economic damage to China would be much steeper than in Trump’s first term because the tariffs would be higher and China’s economy is much more vulnerable.

A lot was riding on this wind farm. Then giant shards washed up in Nantucket.

This summer was supposed to be a breakout season for the faltering offshore wind business in the U.S. Instead it may be defined by an ill-timed break.

A large project off the coast of Massachusetts, called Vineyard Wind, remains at a standstill following an accident that dropped a massive turbine blade into the ocean last month and washed chunks of debris onto Nantucket beaches.

The blade broke at the height of summer and at a pivotal moment for the U.S. offshore wind industry, which has struggled with rising costs, political opposition and a wave of canceled and renegotiated contracts. Efforts to launch the sector in the U.S. are considered key to President Biden’s climate aspirations but would be especially vulnerable if former President Donald Trump returns to office.

• Targeted killings of Hamas leaders revive the debate on whether they help end violence—or worsen it.
   
• Iran and its allies are weighing how to retaliate forcefully for a pair of killings attributed to Israel in Beirut and Tehran without igniting an all-out war none of them want.
   
• American commandos are scrambling to contain a resurgence of Islamic State where the militant group once imposed its violent religious fervor on vast territories and millions of people.
   
• Finance chiefs are issuing debt in the commercial paper market to save on interest costs and prepare their balance sheets for a likely rate cut from the Federal Reserve.
   
• Behind the market tumult of the past month was the rapid unwinding of several popular trades and the heavy use of leverage.
   
• Ukraine’s surprise invasion of Russia’s Kursk province has quickly gobbled up territory. The dilemma for Ukraine’s leadership is whether the quest for further gains is worth wagering significantly more troops and military equipment that are sorely needed on the eastern front in Ukraine.

• The U.S. is pursuing a long-shot bid to push Venezuelan President Nicolás Maduro to give up power in exchange for amnesty as overwhelming evidence emerges that the strongman lost last month’s election, people familiar with the matter said.
   
• Kamala Harris stopped in San Francisco on Sunday to fundraise from the big donors of the liberal city, which has become a crucial source of tech money as well as a target for Donald Trump’s campaign.
   
• Disney announced plans to invest billions of dollars into its Experiences unit, which includes theme parks, cruises and video games.
   
• Companies are pulling back on hiring for hourly roles—such as retail workers and airport cleaners—that were once in demand.

Follow us on X at @WSJRisk. Follow Risk & Compliance editor David Smagalla @DSmagalla_DJ and reporters Mengqi Sun @_MengqiSun, Dylan Tokar @dgtokar and Richard Vanderford @VanderfordRich.

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