August 11, 2017 / 12:29 PM / a month ago

Friday Morning Briefing

A girl looks at a barbed-wire fence decorated with ribbons bearing messages wishing for the unification between the two Koreas near the demilitarized zone separating the two Koreas in Paju, South Korea, August 10, 2017. REUTERS/Kim Hong-Ji

Chinese tourists continue to flock to North Korea as tensions between Pyongyang and the U.S. mount, Amazon explores technology to keep food fresh without refrigeration as it muscles into the grocery business and Saudi Arabia’s Aramco favors New York over London to host its foreign listing. 

North Korea

China should remain neutral if North Korea launches an attack that threatens the United States, a Chinese state-run newspaper said, sounding a warning for Pyongyang over its plans to fire missiles near the U.S. Pacific territory of Guam.

Any new military conflict with North Korea would likely escalate quickly to the use of nuclear weapons, bringing catastrophic casualties not seen since World War Two and an untold economic impact worldwide, former U.S. defense officials and experts say.

Trump: military solutions 'locked and loaded' against North Korea threat

Commentary: Why China won't stop North Korea

Undeterred by escalating tensions between Pyongyang and Washington rattling nerves globally, a steady stream of tourists from China each morning passes through the immigration checkpoint at the border trading hub of Dandong.

Interactive: How North Korea is getting closer to targeting the U.S.

Nuclear nerves wipe $1 trillion off world stocks

Breakingviews: Diplomatically challenged Trump

 
 

Business

Venture capital firm Benchmark Capital is suing former Uber Chief Executive Officer Travis Kalanick to force him off the board of the ride-services company and rescind his ability to fill three board seats, according to the lawsuit. 

Saudi Arabia favors New York for the main foreign listing of state oil giant Aramco, even though some financial and legal advisers have recommended London as a less problematic and risky option, people familiar with the matter told Reuters.

U.S. economic expansion to last another two years or more: Reuters poll

Amazon is exploring a technology first developed for the U.S. military to produce tasty prepared meals that do not need refrigeration, as it looks for new ways to muscle into the $700 billion U.S. grocery business.

The price of a single bitcoin hit an all-time high of above $3,500 this week, dragging up the value of hundreds of newer, smaller digital rivals in its wake. Now some investors fear a giant crypto-bubble may be about to burst.

Chinese aluminum prices have skyrocketed amid a crackdown on overcapacity, but traders say final demand is weak and cuts may not be as big as expected. Trading data shows some are bracing for a correction.

World oil demand will grow more than expected this year, helping to ease a global glut despite rising production from North America and weak OPEC compliance with output cuts, the International Energy Agency said.

Netflix is in "active discussions" with Walt Disney Co about keeping Marvel and "Star Wars" films after 2019 when new Disney and Pixar movies will stop appearing on the streaming service, a senior Netflix executive said.

U.S.

Tourists frolic along the Tumon beach on the island of Guam, a U.S. Pacific Territory, August 10, 2017. REUTERS/Erik De Castro

Tourists frolic along the Tumon beach on the island of Guam, a U.S. Pacific Territory, August 10, 2017. REUTERS/Erik De Castro

Singer-songwriter Taylor Swift presented an unflinching account under oath and in open court of her allegation that a Colorado DJ groped her while they posed for photos together four years ago.

China

China is investigating its top social media sites, including WeChat and Weibo, for failing to comply with cyber laws.

India

India is in talks with Bangladesh and Myanmar about its plan to deport around 40,000 Rohingya Muslims it says are living in the country illegally, a government spokesman said. 

Indonesia

Indonesia has urged officials to stand up to mob pressure after Muslim and nationalist protesters called for a 100 foot statue of a Chinese deity erected in a temple complex in an East Java town to be torn down.

Sports

Russian dopers ordered to return Olympic medals, some say no

German state broadcasters ARD and ZDF have struck a deal with Discovery Communications for the right to show the Olympic Games from 2018 to 2024, after months of tough talks.

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