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New York City is on high alert after a suspicious device in neighbouring New Jersey exploded. The blast took place as a bomb squad was attempting to disarm one of five devices discovered in a backpack close to a train station in Elizabeth, New Jersey. The incident came after an explosion rocked Manhattan just hours before President Barack Obama and other world leaders were due to arrive in the city for annual meetings at the United Nations.

Over the weekend there was also a mass stabbing at a mall in Minnesota that has been claimed by Isis, although police say there is no evidence the group actually planned the attack.

The three incidents have raised fears of a terrorist campaign but police and officials remain cautious. Andrew Cuomo, New York governor, said early indications suggested the New York attack was not linked to Isis or any other international group. Here's what we know and do not know about the blast. (BBC, Guardian, FT, NYT)

In the news

Pro-Putin party poll sweep The ruling United Russia party has strengthened its hold on the Russian parliament. With 93 per cent of the vote counted, the party controlled 76 per cent of the seats in the Duma. The poll was marred by irregularities and the lowest turnout in President Vladimir Putin’s 17 years in power. (FT)

The threat to EM growth Demand for emerging market exports has hit a new post-crisis low, with US imports from China dropping sharply in July in the latest sign that the engine of growth for the world’s developing economies is sputtering. (FT)

Asia’s killer haze Toxic smog that spread across Southeast Asia from Indonesian forest fires last year killed about 100,000 people across the region, according to an academic study. Researchers at Harvard and Columbia universities found the majority of the deaths were in Indonesia and were caused by cardiovascular disease. (Guardian)

Syria’s collapsing ceasefire A shaky ceasefire in Syria’s brutal civil war has expired after aerial attacks on rebel-held areas of Aleppo and a US-led coalition air raid on Syrian military forces. It is unclear if the week-long truce will be renewed, with both sides accusing each other of violating the ceasefire agreement. (Al Jazeera)

Too much wheat A change of import rules by Egypt, the world’s biggest wheat importer, has brought its wheat trade to a halt and left the world’s wheat market groaning under excess supply. (FT)

It’s a big day for

The Clinton Global Initiative Bill and Hillary Clinton’s family foundation holds its final annual meeting — the family has vowed to dismantle and revamp their philanthropic organisation if Mrs Clinton wins the presidency. (HuffPo)

GE Healthcare The company is set to announce a €150m investment in a biopharmaceuticals manufacturing operation in Ireland in the latest sign that the global healthcare industry is rushing to new ways of developing and producing drugs. (FT)

Keep up with the important business, economic and political stories in the coming days with the FT’s weekahead.

Food for thought

The decline of the Strand Once home to the great mansions of the aristocracy, the street described by Dickens as London’s “greatest thoroughfare” has become subsumed by a “welter of Pret-a-Mangers, Costa Coffees and other chain stores”. (FT)

Fifty days that will shake the world Hillary Clinton is all that stands between the world and the Trumpian abyss and her success is predicated on Mr Trump’s indiscipline, which cannot always be relied upon, writes Ed Luce. Meanwhile, the New York Times looks at how Mr Trump’s empire was built on a foundation of political connections and a relentless pursuit of tax subsidies that have cost taxpayers nearly $1bn. (FT, NYT) Keep track of the 2016 race with our daily US politics newsletter. Sign up here.

Samsung in crisis After reading that Apple’s new iPhone had few significant innovations, Samsung executives spotted an opportunity and accelerated the launch of their Note 7 in the hope of upstaging their rivals. But far from dazzling customers with new technology, the device has a habit of bursting into flames. Now the company is struggling to pay for its mistake. (Bloomberg)

Wells Fargo’s insincere regrets Lucy Kellaway takes issue with the bank’s attempt at an apology after it was fined $185m for setting up 2m fake customer accounts. “I’d be bridling at Wells Fargo’s cheek in telling me that they have always been ‘passionate’ about my trust, when I’d just been taken for a ride.” (FT)

Xi Jinping navigates treacherous waters Although he has amassed overwhelming political power, Chinese President Xi Jinping is probably feeling vulnerable. Numerous challenges, both at home and abroad, are tumbling toward him simultaneously. (NAR)

Video of the day

China’s ports suffer from world trade dip Seven of the world’s 10 largest ports are in China. With global trade facing a dip, both ports and shipping companies are struggling with overcapacity. The FT’s Ben Bland reports. (FT)

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