March 28, 2018 / 11:35 AM / 5 months ago

Wednesday Morning Briefing

Good morning. Wall Street embraces Trump’s poker face, robots care for Japan’s elderly and the Reuters graphics team assess the potential impact of Brexit on the City of London.

FILE PHOTO: U.S. President Donald Trump takes part in a forum called Generation Next at the Eisenhower Executive Office Building in Washington, U.S., March 22, 2018. REUTERS/Leah Millis

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Highlights

To Wall Street money managers who make bets for a living, Trump’s aggressive stance against China on trade looks like a high-stakes poker hand - but they believe they can play it for all it’s worth. Investors remain concerned about a trade war between the world’s two largest economies, but some big players are sanguine about their prospects to make money even as they try and dissect Trump’s strategy on trade.

A little-known former prosecutor with a doctorate in medieval history will play a central role on Trump’s legal team, as many top-tier lawyers shy away from representing him in a probe into Russia’s meddling in the 2016 election. Read our exclusive.

Middle East ride-hailing app Careem is in early talks to raise as much as $500 million in new funds from investors, sources told Reuters. Careem, Uber’s rival in the region, is checking the appetite of potential investors and hopes to secure its targeted $500 million in a new funding series.

World

Robots have the run of Tokyo's Shin-tomi nursing home, which uses 20 different models to care for its residents. The Japanese government hopes it will be a model for harnessing the country's robotics expertise to help cope with a swelling elderly population and dwindling workforce.

Months of frosty relations between China and North Korea appeared suddenly to thaw with Kim Jong-Un’s secretive trip to Beijing, which saw the Chinese capital go into security lockdown as the mysterious North Korean delegation toured the city. Kim’s visit, countering what had been growing estrangement between the Cold War allies, is likely to bolster Pyongyang’s leverage going into a planned summit between Kim and Trump. 

Sacked Australia captain Steve Smith and David Warner have both been banned for 12 months for their roles in the ball-tampering scandal in Cape Town, Cricket Australia announced today, after uncovering a web of lies told by the players after they were caught. 

Book excerpt: The untold story of Martin Luther King, Jr. and Robert F. Kennedy

As the 50th anniversary of Martin Luther King, Jr.'s assassination approaches, author David Margolick examines the untold story of King's relationship with Robert F. Kennedy during their struggle for civil rights in America. "They’d become allies, but never had they been friends,” writes Margolick in the first of three excerpts from "The Promise and the Dream." 

Brexit and the city

While London represents one of the greatest concentrations of financial wealth on earth, about a third of the transactions on its exchanges and in its trading rooms involve clients in the European Union. Is London’s position as the largest international centre of finance slipping as a result of Brexit? Reuters assesses the fortunes of the City through a series of indicators, such as applications for licences to sell alcohol and users of key underground stations.

The number of finance jobs to be shifted out of Britain or created overseas by March 2019 due to Brexit has dropped by half compared to six months ago to 5,000 roles, firms employing the bulk of UK-based workers in international finance told Reuters.

Diners are still flocking to the elegant, glass-domed dining room at 1 Lombard Street, despite uncertainty about London’s future after Britain exits the European Union next year. But the restaurant’s owner, former banker Soren Jessen, says Brexit is hampering his ability to hiring qualified staff. 

Despite Brexit dominating discussions in parliament and the pages of newspapers, voters’ views seem entrenched as ever. “People now think of themselves as Leavers or Remainers and see developments from that perspective,” Sara Hobolt, a professor of politics at the London School of Economics, told Reuters. She estimates that 80 to 90 percent of Britons have not changed their minds since 2016

 Reuters TV

An Egyptian wife carries sick husband to vote in the third day of 2018 Egyptian Presidential elections.

Egyptian woman carries her husband to vote
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