It’s a packed issue this morning, so just a handful of notes to get us underway today:

Bakers across the country are in a state of panic with the looming end of flour subsidies on Tuesday, 1 August. The Supply Ministry announced over the weekend the newly approved bread subsidy system; we have full coverage of the story in Speed Round, below.

While you were in Sahel, Libor died (or at least its death warrant was signed forexecution in 2021): The interest rate benchmark will be phased out by the end 2021 “as U.K. regulators and banks look to replace the scandal-tarred indicator with a more reliable system,” Bloomberg reports. Libor is “unsustainable,” Andrew Bailey, the head of the Financial Conduct Authority, said, because of a lack of transactions providing data. The replacement is not entirely clear, but Bailey says “he could see a situation where there is more than one benchmark, with some including bank credit risk while others exclude that data.” Mourning the loss of Libor was the Financial Times’ Joseph Cotterill, who wrote a eulogy in the form of a poem worth reading, but that The Algorithms that govern our deliverability to your mailbox will not allow us to quote in here.

iSheep will be reading the tea leaves on Tuesday for any hint of when Apple may introduce its still-unnanounced iPhone 8. The company is due to report its 3Q2017 results and give guidance on the quarter ahead on 1 August.

Michiko Kakutani has is retiring. The influential, cutting New York Times book critic had been on the job for some 38 years.

In our TBR stack on Pocket this morning: Loss of Fertile Land Fuels ‘Looming Crisis’ Across Africa, by the New York Times’ very good Jeffrey Gettleman and Talk is Cheap: Automation Takes Aim at Financial Advisers—and Their Fees in the Wall Street Journal.

PSA: Several areas in Cairo — including parts of Heliopolis and Ain Shams — will go through a 24-hour water outage starting today at 4pm as a result of work on the Cairo Metro lines, Al Mal reports. Authorities have asked bakeries and hospitals to ration water, and potable drinking water will be provided to the affected areas.

Finally: Our resident nine-year-old joins this morning the community of individuals whose age is expressed in double digits.