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Good morning from the newsroom of the Financial Times.

Today is Tuesday, July 23. Good morning from the newsroom of the Financial Times.

Today is Tuesday, July 23rd,

and this is your FT news briefing.

The White House and Congress strike a deal

to raise the US debtS. debt ceiling.

Donald Trump promises major U.S. tech companies that his administration will process their

applications to supply Huawei quickly.

Washington sanctions one of China's largest state-backed oil

companies for transporting Iranian crude oil and Starbucks takes a steak in

a restaurant tech startup. Plus I'll talk with the F.T's political editor George Parker about the man widely expected

to become Britain's next Prime Minister.

I'm Mark Filipino, and here's the news you need to start your day.

The threat of a US debt default is gone, at least for the next couple of years. The White House and Democratic leaders in Congress

reached an agreement on Monday that would raise America's $22 trillion borrowing

limit. The plan was crafted by the Speaker of the U.S. House of Representatives Nancy Pelosi

and Treasury Secretary Stephen Manushin.

The deal increases the debt ceiling for two years until the middle of 2021, ensuring that the next budget standoff

would happen after the next presidential election.

Sources say the plan would increase spending levels in both defense and non-defense areas by a total of

...