February 5, 2018 / 12:49 PM / 4 months ago

Monday Morning Briefing

Good morning. There is a sporting flavor to today’s headlines that are largely focusing on Philadelphia’s underdog win at the Super Bowl and plunging temperatures in Seoul as South Korea gears up to host the Winter Olympics.

NFL Football - Philadelphia Eagles v New England Patriots - Super Bowl LII - U.S. Bank Stadium, Minneapolis, Minnesota, U.S. - February 4, 2018. Philadelphia Eagles’ Patrick Robinson celebrates winning Super Bowl LII. REUTERS/Chris Wattie

Highlights

“We’ve been doubted since Day One,” said Philadelphia Eagles tight end Zach Ertz, who caught what proved to be the game-winning touchdown that wrested the Super Bowl title away from the New England Patriots yesterday. The Eagles were underdogs throughout the NFL playoffs, and just as most expected little from fictional Philadelphia boxer Rocky Balboa, few onlookers outside the City of Brotherly Love expected them to beat the defending Super Bowl champions.

Stock markets were routed around the globe today, with European indexes opening lower and bond yields rising as resurgent U.S. inflation raised the possibility central banks would tighten policy more aggressively than had been expected. 

The kind of pay raises for which American workers have waited years are now here for a broadening swath of the country, according to a Reuters analysis of state-by-state data that suggests falling unemployment has finally begun boosting wages. 

World

Samsung Group heir Jay Y. Lee left a South Korean jail a free man after a panel of judges suspended his sentence, a surprise decision that sent shockwaves through the country’s political and business establishments. The ruling reignited an intense public debate over widespread corruption just days before the country hosts the Winter Olympics. On Friday, when the Games will be officially launched at the opening ceremony, spectators fortunate enough to have got a ticket will have to wrap up at the outdoor stadium at the Olympic Plaza where sub-zero temperatures will be hard for spectators to sustain.

To investigate whether Britain’s impending departure from the European Union would help or hurt the country’s fishing industry, the Reuters graphics team navigated an ocean of data. Read the latest Backstory on how the team waded through sets of information that had more than 80,000 rows of data to visualize the story. 

Commentary

A bill passed by Poland’s senate that would establish prison terms for anyone who suggests that Poles were culpable during the Holocaust, has backfired badly, writes Alex Storozynski, president emeritus of The Kosciuszko Foundation. "Giving archivists authority to defend a country’s reputation will not suppress painful realities or opposing views. It will do the opposite. It already has."

Business

Broadcom plans to unveil a new approximately $120 billion offer for Qualcomm, aiming to ratchet up pressure on its U.S. semiconductor peer to engage in negotiations. The move comes ahead of a Qualcomm shareholder meeting scheduled for March 6, when Broadcom is seeking to replace Qualcomm’s board of directors by nominating its own slate for election. 

Mick Mulvaney, head of the Consumer Financial Protection Bureau, has pulled back from a full-scale probe of how Equifax failed to protect the personal data of millions of consumers, according to people familiar with the matter. The CFPB effort against Equifax has sputtered since Mulvaney’s appointment in November, said several government and industry sources, raising questions about how Mulvaney will police a data-warehousing industry that has enormous sway over how much consumers pay to borrow money.

The experiences of three of Amazon’s first customers in Australia reflect what analysts see as the main challenge to capitalizing on a lack of serious online competition and winning over the world’s 12th-largest economy: its geography

Boeing may express interest in a jet fighter competition in Canada despite a recent trade row, but is still studying the matter, a senior executive said today ahead of the Singapore Airshow.

Top stories from Reuters TV

Russia steps up air raids after jet shot down in Syria

South Carolina governor: Amtrak train on wrong track

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