August 25, 2017 / 11:35 AM / a month ago

Friday Morning Briefing

Hurricane Harvey is seen in the Texas Gulf Coast, U.S., in this NOAA GOES satellite image on August 24, 2017. NOAA/Handout via Reuters

Hurricane Harvey intensified, President Donald Trump picked a new fight with his fellow Republicans and North Korea revealed new rocket designs for the most powerful intercontinental ballistic missile it has ever tested.

Hurricane

Hurricane Harvey intensified into potentially the biggest hurricane to hit the U.S. mainland in more than a decade, as authorities warned locals to shelter from what could be life-threatening winds and floods. Harvey is set to make landfall late Friday or early Saturday on the central Texas coast where Corpus Christi and Houston are home to some of the biggest U.S. refineries. Oil and gas operations have already been affected and gasoline prices have spiked. 

Graphic: Harvey’s projected path 

Port of Corpus Christi closed as Texas braces for hurricane 

U.S.

President Donald Trump picked a new fight with his fellow Republicans, saying congressional leaders could have avoided a “mess” over raising the U.S. debt ceiling if they had taken his advice.In the latest in a stream of criticisms that could undermine his aims to cut taxes, pass a budget and rebuild infrastructure, Trump sought to blame party leaders if Congress fails to agree to raise the cap on how much the federal government may borrow. 

U.S. Interior Secretary Ryan Zinke said he has sent recommendations from his review of more than two dozen national monuments to President Donald Trump, indicating that some could be scaled back to allow for more hunting and fishing and economic development. 

U.S. state election officials still in the dark on Russian hacking

Asia

With photographs obliquely showing a new rocket design, North Korea has sent a message that it is working on an intercontinental ballistic missile (ICBM) more powerful than any it has previously tested, weapons experts said on Thursday.  

At least 32 killed in Myanmar as Rohingya insurgents stage major attack

Thailand's ousted PM Yingluck has fled abroad: sources

Samsung

The billionaire head of South Korea’s Samsung Group, Jay Y. Lee, was sentenced to five years in jail for bribery in a watershed for the country’s decades-long economic order dominated by powerful, family-run conglomerates. After a six-month trial over a scandal that brought down the then president, Park Geun-hye, a court ruled that Lee had paid bribes in anticipation of favours from Park. 

Downfall of ex-Samsung strategy chief leaves 'salarymen' disillusioned

Supporters of ousted South Korea leader outraged over jail for Samsung chief

 

Gorillas sit next to a ruler during a photocall for the annual weigh-in at London Zoo in London, Britain August 24, 2017.

Gorillas sit next to a ruler during a photocall for the annual weigh-in at London Zoo in London, Britain August 24, 2017.

 

Business

Amazon said it will cut prices on a range of popular goods as it completes its acquisition of Whole Foods Market, sending shares of rival grocers tumbling on fears that brutal market share battles will intensify. Amazon’s $13.7 billion purchase of Whole Foods, which will be completed on Monday, has been hanging over a brick-and-mortar retail sector unsure of how to respond to the world’s biggest online retailer. 

In wake of Foxconn deal, Wisconsin and Illinois vie for jobs 

Cash is king for U.S. fund investors wary of stocks 

Breakingviews - Infosys founders get second chance on succession  

Markets

World stocks drifted toward their best week in six, as a near three-year high in emerging markets shares and a roaring rally in metals bolstered the year’s global bull run.

Low world inflation dogs central bankers, even as economies grow 

Reuters TV: Populist sentiment weights on Fed meeting

Autos

Fiat Chrysler said it would evaluate any inquiries about potential transactions, but did not have anything to add to its previous comments on reported interest from China’s Great Wall Motor in its Jeep brand. 

Exclusive: Tesla's 'long-haul' electric truck aims for 200 to 300 miles on a charge

Sales at Toyota's Lexus brand slide in first-half as sedans suffer

World

Danish inventor Peter Madsen denies a new charge of abuse of a corpse, which police have put to the court investigating whether he killed Swedish reporter Kim Wall on board his submarine. Police said that the body had been weighted down with metal and an attempt had been made to remove gas and air from inside to keep it on the seabed. 

Russian hackers feel the heat as Trump seeks warmer Moscow ties

Kushner stresses Trump's Mideast peace optimism but details scant

NATO says Russia should be transparent about its military drills

U.S. Navy recovers second body in search for sailors missing after collision

Britain heads back to the Brexit table, plans in hand, economy in decline

Commentary

Beyond regular security measures, there's another way to prevent extremist attacks, writes columnist Paul Hockenos. European countries need to ramp up programs to make immigrants like those who killed 15 people in and around Barcelona last week feel wanted in their adopted countries. "New integration measures in the aftermath of the carnage in Spain and other European cities are imperative," says Hockenos. "They might not be a silver bullet, but anything that could reduce the chances of further Barcelona-style attacks is worth a try."

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