August 28, 2018 / 11:17 AM / in 3 months

Tuesday Morning Briefing

Reuters investigates the effects of deforestation on South America’s largest savanna, a federal court says North Carolina gerrymander is illegal and Russia is set to hold its biggest war games in nearly four decades.

U.S. Marines prepare to open the doors for U.S. President Donald Trump and first lady Melania Trump to welcome Kenyan President Uhuru Kenyatta to the White House in Washington, U.S., August 27, 2018. REUTERS/Kevin Lamarque

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Highlights

The United States and Mexico agreed to overhaul the North American Free Trade Agreement (NAFTA), putting pressure on Canada to agree to new terms on auto trade and dispute settlement rules to remain part of the three-nation pact. World stocks rose to a six-month high, lifted by investor optimism that a U.S.-Mexico deal to overhaul NAFTA will go some way to averting a global trade war.

A federal court ruled that North Carolina Republicans illegally drew up U.S. congressional districts in the state to benefit their party, suggesting that new lines be crafted before November’s election.

Video game maker Electronic Arts canceled three tournaments of its Madden NFL 19 football game to review safety protocols after a competitor who lost a tournament attacked with a gun, killing two gamers and wounding 11 others.

World

Brazil's Agriculture Minister Blairo Maggi attends an opening ceremony of the Grain Harvest in Caseara, Brazil February 15, 2018. Picture taken February 15, 2018. To match Special Report BRAZIL-DEFORESTATION/ REUTERS/Ueslei Marcelino

Special Report

The global warming tradeoff of Brazil’s agriculture boom: Over the past decade, an area the size of South Korea has been cleared in the Cerrado, Brazil’s vital savanna. Here’s what that means for the country – and the world.

World

Russia will next month hold its biggest war games in nearly four decades, Defence Minister Sergei Shoigu told Russian news agencies, a massive military exercise that will also involve the Chinese and Mongolian armies.

Facebook said it was removing several Myanmar military officials from the social media website and an Instagram account to prevent the spread of “hate and misinformation” after reviewing the content. Two Reuters journalists have been detained in Myanmar since Dec. 12, 2017. At the time of their arrests, they had been working on an investigation into the killing of 10 Rohingya Muslim men and boys in a village in Myanmar’s Rakhine state. Read the latest updates. 

Iran’s parliament voted to reject President Hassan Rouhani’s explanations for economic hardship after a dramatic grilling on live TV, a sign his pragmatic faction is losing sway to hardline rivals as new U.S. sanctions begin to bite.

Commentary

Over the past decade, while consolidating its status as a regional financial center and international business hub, the UAE has quietly become a rising military power in the Middle East, writes Nael Shama, a researcher and writer on Middle Eastern politics. Since the Arab Spring, the UAE has pursued an increasingly assertive and interventionist foreign policy, the effects of which are most evident in the Red Sea basin and Horn of Africa. Here, the UAE has sought to become a major political actor, maintaining a formidable military presence, handing out lavish economic aid and taking on the role of kingmaker and peace broker.

Business

Nestle and Starbucks said they had concluded their licensing deal for the Swiss food giant to market the U.S. coffee maker’s packaged coffees and teas around the world.

Elon Musk’s take-private plans for Tesla have evaporated, but the company’s looming debt needs remain. With a debt load of about $10.5 billion and the possibility of an impending cash shortfall, Wall Street expects the luxury electric carmaker may need to raise funds before long.

Aspen Insurance Holdings said certain funds affiliated to alternative investment manager Apollo Global Management will take the insurer private in an all-cash transaction valued at $2.6 billion.

Reuters TV

Reuters has learned that Saudi King Salman bin Abdulaziz demanded the government nix plans for taking the national oil company public, an idea that had been part the country’s crown prince’s ambitious reform agenda.

Exclusive: Saudi king quashed son's Aramco IPO plan
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