July 16, 2018 / 11:06 AM / 3 months ago

Monday Morning Briefing

Good morning. From Trump’s meeting with Putin in Helsinki to a highway that lies at the heart of an intense debate about Chinese influence in Europe, catch up on the global headlines.

Fireworks explode in the sky around the Eiffel Tower, in a picture taken from the Montparnasse Tower Observation Deck, at the end of Bastille Day events in Paris, France, July 14, 2018. REUTERS/Pascal Rossignol

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HIGHLIGHTS

Hours before he was due to sit down for his first ever summit with Vladimir Putin, U.S. President Donald Trump blamed “U.S. foolishness” for bad relations between Washington and Moscow, while the Kremlin said it expected a tough meeting. Ahead of the meeting in Helsinki, Reuters Graphics analyzed which foreign leaders the two men have each spoken to and met with most frequently since January 2017. 

As November’s U.S. elections approach, Republicans in the House of Representatives and the Trump administration are planning another deficit-financed tax-cut plan, but one widely seen as a vote-getting exercise with little chance of becoming law. 

EUROPE

Perched atop massive cement pillars that tower above Montenegro’s picturesque Moraca river canyon, scores of Chinese workers are building a state-of-the-art highway through some of the roughest terrain in southern Europe. The road is at the heart of an intense debate about Chinese influence in Europe, both within EU member states and countries aspiring to join the bloc such as Montenegro and its Western Balkan neighbors Serbia, Macedonia and Albania. 

Prime Minister Theresa May will face the anger of Brexit supporters in her party today when they try to force her to change course on her strategy for leaving the European Union.  However, there's an upside to the chaos over Brexit negotiations and Trump's undiplomatic comments during his UK visit, writes John Lloyd for Reuters Commentary. 

BUSINESS

The FANGs have gotten their bite back, and they are helping Wall Street erase the wrenching correction that beset it in February.

Bank of America reported quarterly profit above Wall Street expectations as the second-largest U.S. lender kept a tight leash on expenses and benefited from growth in loans and deposits.

Flying robots that can travel dozens of kilometers without stopping could be the next big thing for power companies.

Boeing said it won an order for 14 freight aircraft for a value of $4.7 billion, firing the opening salvo against rival Airbus in a contest for business on day one of the Farnborough Airshow. See more headlines from the show.

Canadian government customs provisions are expected to soften the blow on the country’s powerful automotive industry from retaliatory tariffs on U.S. steel, according to trade lawyers and industry leaders bracing for higher costs.

REUTERS TV

After a diplomatic snub, North Korea is making firm commitments to help the U.S. restart the search for its fallen Korean War soldiers. Joel Labi reports.

U.S., North Korea to resume search for war victims
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