ITK Daily | July 26

Ukraine spies ‘offered Russian pilots $2m to deliver warplanes’: The Times reports a plot to persuade Russian fighter pilots to fly their aircraft to Ukrainian-controlled territory and surrender has emerged after a tussle between the two countries’ spies, involving promises of millions of dollars in bribes and an alleged agent masquerading as a pilot’s lover.

+ Slovakia is prepared to send 11 MiG-29s to Ukraine

+ Ukrainian forces are preparing for what is one of the most ambitious and significant military actions of the war: retaking Kherson

The new J.Crew: At its peak, J.Crew might have been the most important menswear retailer in America. Then it went bankrupt and tasked downtown New York designer Brendon Babenzien with bringing it back. In a world that’s gone crazy for streetwear and high fashion, can he make oxford shirts and khaki pants cool again? GQ

‘She’s very charismatic’: Could Giorgia Meloni become Italy’s first far-right leader since Mussolini? Guardian

+ Brothers of Italy leads far-right alliance in pole position for a snap summer election

Young adults tend to stay close to the nest: WSJ reports census data indicate local wage gains go largely to workers from the area. In a research paper released Monday from the Census Bureau in collaboration with Harvard University, the paper found that 80% of young adults at age 26 had moved less than 100 miles from where they grew up, and just 10% moved more than 500 miles away.

Chess world champion Magnus Carlsen won’t defend his title: WSJ reports after a decade-long reign, the 31-year-old from Norway will step aside, leaving Russia’s Ian Nepomniachtchi to face Ding Liren of China next year.

Caracal ITK Daily is global business news at the intersection of globalization, disruption, and politics.