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Hillary Clinton raised $63m for her campaign and $26m for the Democratic party in July, bolstering her financial firepower against Donald Trump as the two candidates move into the general election.

The figures suggest that Mrs Clinton has enjoyed a significant bump in fundraising against the backdrop of last week’s Democratic convention, and is attracting more campaign contributors following the Democratic primary.

Meanwhile, Barack Obama said Mr Trump was “ unfit to serve as president”, and urged Republican lawmakers to withdraw support for their party’s candidate amid the furore over his attacks on the parents of a slain Muslim-American soldier. Mr Trump has hit back at senior Republicans who condemned his stance on the family. He has withheld his endorsement from Paul Ryan, the speaker of the house, who is standing in a primary election next week.

His comments came as Richard Hanna became the first Republican congressman to announce that he would vote for Mrs Clinton. (FT, Politico, HuffPo)

Keep up with the 2016 race by signing up for our daily US politics email here.

In the news

HSBC profits plunge Europe’s biggest bank reported a 45 per cent slide in second-quarter profits and has abandoned its return on equity targets amid economic uncertainty. Bank head Stuart Gulliver said HSBC would nonetheless continue buying back up to $2.5bn of shares, facilitated by the bank’s Brazilian unit this year. (FT)

The body count More than 420 drug suspects have been killed since Philippine president Rodrigo Duterte took power just over a month ago, promising to get tough on narcotics trafficking. Most were killed in confrontations with the police, while 154 were killed by unidentified vigilantes. The killings have since prompted 115,000 people to turn themselves in. (NYT)

Pressure mounts on Nicolás Maduro Venezuela’s opposition will continue to push for a referendum this year that could oust the unpopular president, after the national electoral council said they had successfully collected the 1 per cent of voter signatures needed to activate the next phase of the process. (FT)

Erdogan overhauls Turkey’s military The Turkish president is using the state of emergency following last month’s attempted coup to transform all facets of Turkish society, from universities to the military. Even football referees are not safe — 94 were sacked on Tuesday. The scale of the purge is unprecedented and is the equivalent of firing every police officer in Philadelphia, Dallas, Detroit, Boston and Baltimore. (FT, AP, NYT)

Taxing the foreigners Vancouver has slapped a 15 per cent tax on foreign housebuyers to try to stem spiralling property prices. The city has been popular with Asian buyers, mainly from China, looking for a safe haven for their money. The land registry crashed twice last week as buyers tried to register sales before the new rules went into effect. (Vancouver Sun)

It’s a big day for

South Africa Municipal elections today are expected to give a damning verdict on the ruling ANC and its scandal-ridden leader, Jacob Zuma. (The Times South Africa)

Bitcoin Prices of the digital currency slid as much as 15 per cent on Wednesday after one of the largest exchanges trading the digital currency informed the market it had been hacked. (FT)

Food for thought

The hidden costs of crime JPMorgan Chase this week settled a class-action lawsuit brought by former inmates who were stung with a string of unusual fees for using debit cards supplied by the bank. Ex-convicts had to pay $10 to get money from a teller window and 45 cents just to check their balance. There was also a $1.50 charge if the account was inactive for a month. (FT)

South Africa: Losing faith in the ANC The ruling African National Congress is in trouble. Unable to bring jobs, economic growth, decent education or even hope to the black majority in whose name it struggled against apartheid, the erstwhile freedom fighters face an electoral turning point. (FT)

The politics of parkour Running, jumping and climbing through urban environments around the world remains a subversive activity, as traceurs (those who practise parkour) reclaim cities as diverse as London, Gaza and Tehran. (The Conversation)

Bugs like wealth Research in the US shows that higher income houses host more insects than their poorer counterparts. The counterintuitive findings are thought to be down to greater biological diversity in richer, leafier neighbourhoods. (Guardian)

Reform in the Kingdom Plans for sweeping economic reform in Saudi Arabia might expand employment and transparency, but there would also be losers — which could have political consequences. (Carnegie Endowment)

Video of the day

Crossing the new Silk Road China is trying to redevelop the old Silk Road trading routes from east Asia to the Middle East and Europe. The FT’s Jack Farchy travels with a container train from Kazakhstan to Azerbaijan that crosses the Caspian Sea by boat. (FT)

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