Arsenal have completed the signing of Declan Rice from West Ham United for a club and British player record transfer fee. The Gunners will pay £100m for the England international, plus an additional £5m to come in bonuses. It also marks the biggest fee received by the Hammers for a single deal. Enzo Fernandez cost Chelsea £105.6m earlier this year in what will remain the most expensive signing for a British club, but Rice’s fee eclipses that of Jack Grealish last summer to make him the most expensive British player ever. Rice, aged 24, becomes the second major midfield arrival of the summer for Mikel Arteta’s side after the capture of Kai Havertz from Chelsea late in June and will wear No 41. It is expected that the new pair, along with captain Martin Odegaard, will form a new regular midfield trio for Arsenal, as they attempt to go one better than last season when they finished Premier League runners-up behind Manchester City. Rice was briefly linked with the champions, though they fell out of the running once the Emirates Stadium club raised their bid to record levels. He will now carry the burden of expectation at the Emirates heading into the new campaign, both due to the size of the fee to sign him and also because he’ll be operating at the base of a midfield which appears decidedly attack-heavy. The role could therefore also be a departure from the one that he operated in at West Ham, where he had more licence to roam forward as a ball-carrier. Having won 43 caps for England, Rice was already a key player under Gareth Southgate at international level and will now hope to elevate his game even further with a step up on the club stage His final match for the Hammers saw him lift the Europa Conference League trophy after defeating Fiorentina in the final. Rice had earlier penned an open letter to Hammers fans confirming his departure from the club for which he made 245 appearances. He said: “I want you to know how tough a decision it has been for me to leave an environment that I have loved and cherished so much. This club and its supporters will always be in my heart, and forever a part of who I am. “Ultimately, though, it has only ever been about my ambition to play at the very highest level of the game. “Playing on the opposite team to West Ham for the first time will be an unusual experience. I’m not sure yet exactly how I will feel, but I also know you will all understand and respect that my professional loyalties have to now lie with my new club.” Arsenal manager Arteta stated his excitement at the signing, saying: “We’re really happy that Declan is joining us. He is a player with tremendous ability, who has been performing at a high level in the Premier League and for England for a number of seasons now. Declan is bringing undoubted quality to the club and he is an exceptional talent who has the potential to be very successful here. “Declan has great experience in the Premier League at only 24 years old. He has captained a very good West Ham team and as we all saw, he recently lifted a European trophy. The responsibility and role he has taken on has been very impressive and we are really excited that he is joining us.” Read More How Declan Rice’s move to Arsenal compares with other big-money transfers Declan Rice leaves West Ham for record fee with Arsenal move imminent The eye-watering sums behind Declan Rice’s record transfer to Arsenal Arsenal complete signing of Ajax defender Jurrien Timber Frank Lampard reveals he wanted to sign Declan Rice when he was Chelsea boss Kai Havertz, Declan Rice and Jurrien Timber – this is Mikel Arteta’s Arsenal now

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US treasury secretary Janet Yellen is back in India for the third time in nine months, this time to meet finance ministers from the Group of 20 nations about global economic challenges like the increased threat of debt defaults facing low-income countries. Ms Yellen will use her time in Gandhinagar to try to foster warming relations between the US and India. She also plans a stop in Hanoi, Vietnam, to address supply chain reliability, clean energy transition and other matters of economic resilience. Ms Yellen's goals for her time in India: press for debt restructuring in developing countries in economic distress, push to modernize global development banks to make them more climate-focused and deepen the ever-growing US-India relationship. Ms Yellen’s frequent stops in the country signal the importance of that relationship at a time of of tensions with China. India’s longstanding relationship with Russia also will loom as the Kremlin's invasion of Ukraine continues despite US and allied countries’ efforts to sanction and economically bludgeon Russia's economy. India has not taken part in the efforts to punish Russia and maintains energy trade with that country despite a Group of Seven agreed-upon price cap on Russian oil, which has seen some success in slowing Russia's economy. Still, the US increasingly relies on India and has courted its leaders. President Joe Biden hosted a White House state visit honoring Indian prime minister Narendra Modi in June, designed to highlight and foster ties. The two leaders pronounced the US-India relationship never stronger and rolled out new business deals between the nations. Raymond Vickery Jr, a policy expert on US-India relations at the Center for Strategic and International Studies, said Ms Yellen's coming to India shortly after visiting China is meaningful in that Indian officials “are going to want to know in great detail what happened in the meetings with her Chinese counterparts and see where it fits with their perspective on economic relations with China.” “They’re going to want to know whether or not the United States is serious about moving some of its sourcing activity from China to India.” A senior Treasury official, speaking on condition of anonymity to preview Ms Yellen’s trip, said there was hope that debt treatments for Ghana and Sri Lanka will be discussed and completed quickly at the meetings. Sri Lanka and Ghana defaulted on their international debts last year, roughly two years after Zambia defaulted. And more than half of all low-income countries face debt distress, which hurts their long-term ability to function and develop. Last month, Zambia and its government creditors, including China, reached a deal to restructure $6.3bn in loans, on the sidelines of a global finance summit in Paris. The agreement covers loans from countries such as France, the U.K., South Africa, Israel and India as well as China – Zambia’s biggest creditor at $4.1bn of the total. The deal may provide a roadmap for how China will handle restructuring deals with other nations in debt distress. Ms Yellen’s trip comes shortly after she spent a week in China, meeting the nation’s finance ministry and discussing mutual trade restrictions and national security concerns. Harold W Furchtgott-Roth, a senior fellow at the Hudson Institute, said Ms Yellen's trip to India “is a reflection of a naturally developing alliance.” “India has a great deal of tension with China – they have constant border disputes,” he said. “And India wants to develop and has developed into sort of an Indian Ocean naval power, which is also a region that China wants to develop." Read More What Britain needs is a ‘grown-up’ relationship with China US Treasury Secretary Janet Yellen visits China as part of efforts to sooth strained relations Yellen says Washington might 'respond to unintended consequences' for China due to tech export curbs Janet Yellen expresses hopes her Beijing visit has put US-China ties on a ‘surer footing’ Janet Yellen highlights record US-China trade and talks ‘fair rules’ during Beijing visit Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide

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