German finance minister Olaf Scholz has dismissed calls for reform of German and EU fiscal rules, saying in an interview with the Financial Times that they provide enough flexibility to overcome crises such as the coronavirus pandemic.

But Scholz, who is also the Social Democrat’s candidate for chancellor in September’s federal election, said Germany must continue its big-spending plans next year to avoid a hard economic landing.

“We fared better economically than anyone would have expected in the midst of the crisis because we pursued an expansionary fiscal strategy,” he said. “We mustn’t abruptly stop the measures we took to ensure the economic recovery.”

As the SPD candidate aiming to succeed Angela Merkel, Scholz, 63, must show his base he will not retrench spending too quickly. But he must also signal to centrist voters that he would not rip up rules that, under Merkel, delivered six years of balanced budgets and a 10-year economic boom — the longest in German postwar history.

1. Binance customers frozen out Some customers of the crypto exchange lost the ability to withdraw and deposit pounds using one of the main UK payments systems, three days after the financial watchdog banned Binance from operating in Britain.

2. Facebook antitrust lawsuits dismissed A judge has dismissed two antitrust lawsuits against Facebook, one filed by the Federal Trade Commission and another by a coalition of US states. The ruling dealt a significant blow to regulators and sent the social media group’s share price to record levels and its market capitalisation above $1tn for the first time.

3. Dido Harding unlikely to run NHS England The baroness’s chances of becoming the next head of NHS England have sharply diminished following Matt Hancock’s resignation as health secretary, according to senior government officials. Amanda Pritchard, the health service’s chief operating officer, is seen as a frontrunner.

4. Tigray forces ‘take over’ regional capital Forces loyal to the former ruling party in Ethiopia’s rebel Tigray region have entered the regional capital Mekelle in the most significant setback to the government in Addis Ababa since a gruesome conflict began in November.

5. Trump golf course dispute heads to court The Trump Organization has sued New York City for breach of contract over the termination of the company’s 20-year deal to manage a municipal golf course in the Bronx in the wake of the deadly Capitol riot on January 6, which the city said made the Trump brand “synonymous with an insurrection”.

Column chart of Change in employment since the start of the pandemic (million) showing The shortfall in UK employment relative to pre-pandemic levels

In pursuit of more interactive spaces, we have lost sight of how the human brain works, writes Sarah O’Connor. Covid-19 offers us a chance to rethink how our workplaces function. For the latest coronavirus news, follow our live blog and sign up for our Coronavirus Business Update newsletter.

Euro 2020: England vs Germany For most England fans, the second-round Euro 2020 match at Wembley today should be a friendly affair. That is because the English now define themselves more against each other than against the Germans, writes Simon Kuper.

Join senior sports leaders on July 15 as they discuss the opportunities the Africa-US football ecosystem can provide for talent development and what it means for the future of the sport globally.

G20 foreign ministers meet Although the Biden administration had pushed for a meeting between Antony Blinken, secretary of state, and Wang Yi, China’s foreign minister, at the G20 gathering in Italy, no such contact has been planned. (FT, Reuters)

Join us today for our FT/Nikkei Asia’s Technology Boom event. The pandemic has brought the power of technology into sharp focus. Today, the global tech innovation ecosystem is at its most dynamic, especially in Asia. Hear from FT editors and experts on how the industry will transform in the post-pandemic future. Register here.

How Britain’s Channel ports avoided Brexit meltdown The “reasonable worst-case scenario” for the UK’s overnight departure from the single market predicted up to an 80 per cent drop in freight flows in the first month and half of all trucks being turned away at ports for incorrect paperwork. But that is not what happened.

Iran hardliners balance social freedoms and stability Civil disobedience is rippling through Iranian society. If the schism between people and leaders continues to widen and economic malaise goes unfixed, the regime’s greatest fear could be realised: an explosion of social unrest akin to that which ousted the last shah and brought the clerics to power in 1979.

Macron’s personality politics fall short When the results of Sunday’s regional elections started to come in, it was clear French voters had delivered a humiliating rebuke to Emmanuel Macron’s party. The winners, from France’s “old political world”, sought to portray the poll as a rehearsal for next year’s presidential contest, emphasising law and order and the environment.

‘It’s like standing at the gates of hell’ Five days after a building collapse in Surfside, Florida, emergency responders are still searching for more than 150 people, with crews tunnelling under a huge pile of rubble that evoked images of 9/11 and the 2010 Haiti earthquake. (NYMag, Miami Herald)

Chinese women forced to retire Court records reveal that Chinese women sued their employers more than 1,000 times since 2019 for making them quit work at 50, the world’s lowest retirement age.

A record-breaking heatwave in the western US has intensified, as climate change and an atmospheric “heat dome” to bring about the region’s hottest temperatures on record.