| Inching forward | Iran said United Nations nuclear watchdog inspectors could replace damaged surveillance cameras and memory cards at its atomic sites following "constructive" talks in Tehran. The deal stops short of restoring full access for IAEA monitors but may buy time for negotiations to revive the broader 2015 nuclear agreement, reducing the likelihood of a formal censure of Iran at an IAEA board of governors meeting that starts today in Vienna. Tax compromise | Democrats in the U.S. House of Representatives have drafted a tax increase package that falls short of Biden's target as they seek to mollify party moderates over the White House's $3.5 trillion economic agenda, sources say. Because they need the party's full support to win congressional approval of the plan, they're likely to pare the proposals down further in the weeks ahead. - Fossil-fuel defender Joe Manchin, who commands a linchpin vote in the Senate, is at the center of a lobbying crossfire over Biden's package.
 Aluminum reached $3,000 a ton in London for the first time in 13 years amid expectations that supply disruptions are here to stay while demand keeps rising. Chinese output is down as it strives to reduce emissions and conserve power, while a coup in bauxite-producer Guinea has raised concerns over a scarcity of the material used in production of the metal.
Extreme views | Marine Le Pen has made a great show of efforts to present her National Rally party as a modern political force in France purged of its more extreme views. But as Ania Nussbaum reports, her decision to entrust Jordan Bardella with the party leadership while she makes another bid for the presidency shows that controversies are just beneath the surface. Best of Bloomberg OpinionUrging action | President Xi Jinping urged cadres to act more boldly when necessary, a sign of frustration over the performance of lower-level officials in China's top-down system. "For Communists, Mr. Nice Guy is not a really good person," Xi was quoted as saying in a commentary. China has recently seen a wide-ranging regulatory crackdown on everything from big tech to after-school tutoring. - Beijing vowed to consolidate the electric vehicle industry after a decade-long nurturing of the sector led to the emergence of too many players.
Oil addiction | Norway is grappling with a dilemma in today's elections over how to reconcile environmental awareness with an economy — and a $1.4 trillion sovereign wealth fund — underpinned by fossil fuels. Even if the opposition Labor Party ousts a Conservative-led government as polls suggest, both still advocate for the nation's $40-billion fossil-fuel industry and change can come only if smaller parties are vital in forming a government. - Europe's energy crunch is deepening, with gas and power prices hitting fresh records after the U.S. warned the continent isn't doing enough to prepare for what could be potentially a dire winter.
Bloomberg TV and Radio air Balance of Power with David Westin weekdays from 12 to 1pm ET, with a second hour on Bloomberg Radio from 1 to 2pm ET. You can watch and listen on Bloomberg channels and online here or check out prior episodes and guest clips here. -
Two weeks before Germany's election, center-left front-runner Olaf Scholz fended off attacks over his track record as finance minister to consolidate his position as the most likely successor to Chancellor Angela Merkel. - Argentina's ruling coalition suffered its biggest political defeat in two years in office after the opposition won most districts in a primary election, reflecting growing discontent with President Alberto Fernandez's administration before a Nov. 14 midterm vote.
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Germany called for a $12 billion UN fund to address humanitarian emergencies, ahead of today's UN conference to rally aid for Afghanistan. -
Prime Minister Boris Johnson will unveil a new approach to tackling Covid this week that will call for a mass booster vaccination program but scrap plans for mandatory vaccine certificates in England. -
Canadian Prime Minister Justin Trudeau faces a tough fight to eke out even a narrow victory in the snap election this month he called hoping to strengthen his grip on power. -
Russians go to the polls in national and regional parliamentary elections that start on Friday and last for three days. -
Russia is mobilizing as many as 200,000 troops in wargames with Belarus, including thousands along their borders with NATO members, as Moscow tightens military links with its isolated ally. Thanks for the 35 responses to our Friday quiz question, and congratulations to Peh Chwee Hoe, who was the first to identify Guinea as the country where a unit of the military deposed the president and suspended the constitution last week. And finally ... The news from scientists is gloomy for anyone hoping to see light at the end of the Covid-19 tunnel over the next three to six months. Michelle Fay Cortez reports the race between vaccinations and new variants won't end until the virus has touched almost everyone. Outbreaks will close schools and cancel classes. Vaccinated nursing home residents will face new fears of infection. Workers will weigh the danger of returning to office as hospitals are overwhelmed, once again.  A Covid-19 victim is buried in Selangor, Malaysia, on Aug. 30. Photographer: Samsul Said/Bloomberg | 
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