Say what you like about the European Union, but it forced the mighty Apple to ditch one of the most annoying iPhone features.

The iPhone 15 launches today and it’s expected to swap out the Lightning port for USB-C charging. That follows an EU law requiring all phones sold in Europe to support the technology in a bid to do away with that jumbled snakes nest of cables we all own.

Now if the EU could just find a way to block my friends from texting their exes on a night out, then I’d be really impressed.

The lowdown

• 📱 Apple is set to launch its iPhone 15, replacing its Lightning charge port with USB-C.

• 💸 Arm closes its IPO order book a day early after being 10 times oversubscribed.

• 🏠 Shares in China’s largest property developer Country Garden soar following a deal with its creditors.

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JPMorgan’s Dimon warns of pain for the US economy

Americans have never been richer.

US household wealth hit a record $154.3 trillion in the second quarter, according to federal data. That means consumers have now bounced back from the recent inflation-driven drop in stock and real estate prices.

But if you ask JPMorgan CEO Jamie Dimon, the future may not be as rosy. Speaking at a financial conference in New York, Dimon said it would be a “huge mistake” to believe the US economy will keep booming. He pointed to a number of risks, including central banks reducing money supply, the war in Ukraine, and governments spending like “drunken sailors”.

That said, Dimon is a bit of a negative Nancy. Last year he sounded off about an incoming “economic hurricane”, which we’re still waiting for.

The content we're consuming today

• New Yorker: How Elon Musk went from superhero to supervillain

• Bloomberg: Fried-chicken-sandwich mania forces Popeyes to redo its kitchens ($)

• The City: Big Weed is on the brink of a multi-million dollar surge into New York’s cannabis market

Off-balance sheet items

• Are you reading this from behind bars? Then the Economist has your back. Here’s its guide on how to escape from jail.

The bottom line