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Five police officers have been killed in Dallas during a march to protest the killing by police of two African-Americans this week.

Dallas police said they had three suspects in custody and a fourth, who had been engaged in a stand-off with police is reported to have killed himself. Police chief David Brown described the shootings as an “ambush-style” attack, and said those responsible appeared to have “planned to injure and kill as many officers as they could”. President Barack Obama condemned the shooting as a “vicious, calculated and despicable attack on law enforcement”. 

The African-American community has long complained of discrimination by the police. Fatal shootings by police in the US are up in the first six months of 2016, according to the Washington Post. (FT, Guardian, WaPo)

Brexit briefing

Treasury made no plans for Brexit Tom Scholar, the new permanent secretary to the Treasury, told MPs on Thursday his department had not made any preparations for a vote to leave the EU. (FT)

How low can the pound go? With sterling appearing set for one of its biggest falls in the modern era, the FT sought the views of market commentators on what happens next to the currency. (FT)

May and Leadsom face off in PM race Home secretary Theresa May and pro-Brexit campaigner Andrea Leadsom are the final two contenders in the race to be the next Conservative leader, after Michael Gove was eliminated. (FT)

Find our full coverage of the aftermath of Brexit here and in our new daily Brexit Briefing.

In the news

Merkel: Russia damaging Europe’s security German chancellor Angela Merkel has blamed Russia for undermining European security. Speaking to Nato leaders on the eve of the Nato summit she said eastern European leaders needed assurances from the alliance. (FT, Politico)

UN race heats up Christiana Figueres, the UN official who helped steer the Paris climate change accord to success in December, has entered the race to succeed Ban Ki-moon as the organisation’s next secretary-general. (FT)

The power of Pokémon Nintendo shares jumped as much as 10.9 per cent this morning after a smartphone game based on its popular Pokémon series topped iOS and Android mobile charts within its first 24 hours of release. Pokémon Go is an augmented reality game, meaning players can capture, battle and train the various pocket monsters, which appear in the real world. (FT)

Olympics overspend Brazil’s Olympic Games are running 51 per cent over budget with an expected cost blowout of $1.6bn, even as the country is sinking under its second year of recession, a study from Oxford university has found. (FT)

Isis Eid strike At least 37 people have been killed and 62 injured in an Isis attack on a Shia mausoleum north of Baghdad, the latest in a series of attacks around the world. The group has increased its terror attacks as it loses territory it controls in Iraq and Syria. (Sky News)

It’s a big day for

Digital privacy Brussels is set to sign off on a crucial new data transfer arrangement between the US and EU despite heavy criticism of the deal from data protection agencies and lawmakers. (FT)

US economy Here are five things to watch for in the June jobs report. (FT)

Food for thought

North Korea’s burgeoning tech scene Don’t get too excited. The nation’s first start-up fair was notable for its absence of start-ups and investors. There were some interesting pitches, though, including one to sell chemical and radioactive protective gear made out of crab and shrimp shells because “only the crabs and shrimps survived” Hiroshima and Nagasaki. (FT)

Medina wake-up call? The terror attack in Islam’s second holiest city has shocked Muslims around the world. Analyst HA Hellyer asks if it can galvanise them to take action against jihadi violence. (The National)

Eni: A pipeline to profit In addition to dealing with the collapse in crude oil prices, Italy’s largest oil and gas company has confronted increasing political tension and even violence in countries where it operates. The result has been some of the most testing times in its corporate history. (FT)

City v reserve in Canada Indigenous Canadians are the fastest growing segment of the country’s urban population as they move off reservations and reclaim their cities. (Guardian)

The battle for VR supremacy The virtual reality era has arrived, and three major players — Sony, Facebook and Taiwanese smartphone maker HTC — are aiming to woo customers with one-of-a-kind experiences. (NAR)

Video of the day

IMF’s Lagarde on Brexit uncertainty The FT’s Shawn Donnan talks to IMF chief Christine Lagarde about Brexit and how global growth has been affected by the UK’s vote to leave the EU. (FT)

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