Ukrainian forces broke a months-long stalemate and seized thousands of square kilometres of territory in the northeastern part of the country over the weekend.

Why it matters: The rapid advance is the first significant progress made by either side in recent months and represents a major setback for Russia.

It’s the first day on the job for the UK’s new prime minister, but we’ll be bold and assume there are no swag bag pick-ups or icebreaker activities on the docket this morning.  

What happened: Liz Truss has formally taken over as the country’s leader after winning 57% of the vote for Conservative Party leadership, a job previously held by Boris Johnson.

If you’re planning to buy an iPad any time soon, you may want to act fast. The Chinese manufacturing hub of Chengdu (where most of Apple’s tablets are made) is locking down to contain a COVID outbreak, threatening to disrupt supply chains around the world. 

What’s that scary-looking chart of European energy prices? Well, it shows you exactly why officials are looking to implement sweeping changes to lower the region’s electricity prices.

It’s not all gelato and smiles in Europe these days…. economists and business leaders worry that slowdowns in the region’s leading economies could send the eurozone into a recession. 

There’s so much important China news today but our job is to get you up to speed fast, so we’ve put together a rundown of what’s happening in the region and why it matters for the global economy. 

If there’s anything we can learn from Nancy Pelosi’s jaunt to Taiwan–specifically, the criticism surrounding it–it’s that the world is pretty freaked out about China right now.