Good morning. Federal prosecutors have recommended that Justice Department officials bring criminal charges against airline manufacturer Boeing, according to multiple news reports that have been published this morning.

Senators grilled Boeing chief executive Dave Calhoun earlier this month about the company’s safety failures, saying the aircraft maker had done too little to protect whistleblowers who have raised concerns about retaliation.

Boeing appears to have “fostered a culture that censors people who try to speak up”, said Senator Maggie Hassan, while Senator Richard Blumenthal highlighted that changes the company promised to make this year shared similarities with actions it said it would take in 2015, following a settlement with federal aviation regulators.

The recommendation is not a final decision and the details of any potential criminal action are not known, but the Justice Department must decide by July 7 whether to prosecute Boeing. Here is a report from the Reuters news agency, which broke the story.

 And here’s what else I’m keeping tabs on today:

• Monetary policy: Federal Reserve Board governor Christopher Waller gives the opening remarks at the International Journal of Central Banking Annual Research Conference 2024, in Rome, Italy. Federal Reserve Bank of San Francisco president Mary Daly speaks at an event in San Francisco and Bank of Canada governor Tiff Macklem will speak at the Winnipeg Chamber of Commerce.

• Economic data: Brazil’s central bank releases results of a weekly economic survey with more than 100 financial institutions. This will include forecasts for growth, interest rates and inflation. Mexico’s national statistics agency INEGI reports inflation data for the first half of the month, and Argentina releases first-quarter growth and employment data.

• Companies: Carnival Corp is expected to post a rise in second-quarter revenue helped by steady demand for cruise vacations and higher itinerary prices.

Five more top stories

1. Brussels has accused Apple of stifling competition on its mobile app store, marking the first time EU regulators have used new powers under landmark legislation against Big Tech. If found guilty, Apple faces a penalty of up to 10 per cent of its global annual revenue. The fines can rise to 20 per cent in the event the offence is repeated, the EU said. Brussels has also launched a new probe into Apple’s developer fees.

• More technology news: Linda Yaccarino has shaken up her inner circle at X as she faces pressure from Elon Musk to boost sales and cut costs, a year after she became chief executive.

• TikTok: Agencies representing TikTok’s biggest advertisers are drawing up contingency plans as the US prepares to ban the popular video app

2. HPS Investment Partners has raised one of the largest private credit funds on record, confirming its spot as one of the leaders in the industry as the firm debates a possible public listing or merger. The firm manages $114bn, more than double its size from the start of 2020. Here’s more on HPS’s $21.1bn fundraising.

3. At least 15 policemen and four civilians, including an Orthodox priest, have died in Russia’s southern region of Dagestan after gunmen attacked churches and synagogues in two cities, officials said, in the worst terror incident in Russia since militants attacked a concert hall in Moscow in March. The shootings are part of a rise in Islamist violence in Russia.

4. A programme created by former president Jimmy Carter to support elections in fragile democracies is increasing election monitoring in the US. The Carter Center’s Democracy Program recently carried out work in countries including the Democratic Republic of Congo, Venezuela and Sierra Leone. Here’s how it plans to get involved in November’s election.

5. Benjamin Netanyahu said the end of the “intense phase” of Israel’s war with Hamas in Gaza was “very close” and that Israel would soon redeploy forces to its northern border, where it has been trading near-daily fire with the Lebanese militant group Hizbollah. But the prime minister said this would not spell the end of the war.

The Big Read

Rishi Sunak’s Conservatives are braced for a hammering in the UK election. Many Tories now admit that defeat is inevitable in working-class, northern constituencies won under Boris Johnson in the 2019 election. But the polls also indicate Conservative losses in the wealthy heartlands to the south. As one Tory candidate grimaces: “How did we stop being the party of successful Britain?”

We’re also reading . . . 

• Oren Cass: Reality is forcing a shift in America’s tax and spend debate.

• Ukraine: Being the lender that drives Ukraine into default could be reputationally damaging, writes the FT’s editorial board.

• AI in India: Microsoft, Google and local start-ups are racing to adapt their chatbots for multiple languages in the world’s most populous country.

Chart of the day

Americans from the Midwest to the north east of the country may finally get some relief from the record-breaking temperatures that have affected nearly 100mn people in the past week, weather forecasters said. But Mexico’s extreme weather is forecast to take a different turn, with northern states such as Nuevo Leon expecting up to 25cm of torrential rain, because of Tropical Storm Alberto.

Take a break from the news

FT editors, columnists and specialists pick the books they’ve enjoyed the most so far this year and that have inspired them. Find your next read here.

Additional contributions from Tee Zhuo and Emily Goldberg