September 10, 2018 / 11:35 AM / 2 months ago

Monday Morning Briefing

Good morning. From developments in the escalating U.S.-Sino trade war to reflections on the 2008 financial crisis, catch up on the lastest headlines. 

A man carries a girl as he walks past police officers blocking a street during a rally against planned increases to the nationwide pension age in Moscow, Russia September 9, 2018. REUTERS/Sergei Karpukhin

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 HIGHLIGHTS

China will respond if the United States takes any new steps on trade, the foreign ministry said, after President Trump warned he was ready to slap tariffs on virtually all Chinese imports into the United States. Shares of Apple suppliers fell across Asia after Trump tweeted that the tech giant should make products in the United States if it wanted to avoid tariffs on Chinese imports. 

World shares were flirting with their longest run of declines since early 2016, hit by rising anxiety about the U.S.-China trade war and another interest rate increase by the Federal Reserve later this month. 

Republicans in the U.S. House of Representatives plan to unveil another round of tax cuts this week, hoping to draw a sharp contrast between themselves and Democrats ahead of the Nov. 6 congressional elections. 

The United States will adopt an aggressive posture against the International Criminal Court, threatening sanctions against ICC judges if they proceed with an investigation into alleged war crimes committed by Americans in Afghanistan.  

WORLD

United Nations human rights chief Michelle Bachelet called for a new quasi-judicial body to collect evidence with a view to future prosecution of crimes against Muslim Rohingya in Myanmar including murder and torture.  

Several armed men attacked the headquarters of the National Oil Corporation in the Libyan capital today and blasts were heard before wounded people were ferried away from the building in ambulances. 

Sweden faced weeks of uncertainty after its mainstream center-left and center-right blocs emerged in a dead heat from an election on Sunday, while the far-right - which neither wants to deal with - made gains on a hardline anti-immigrant platform. 

THE FINANCIAL CRASH: TEN YEARS ON

As the world reflects on the frightening days of 2008, Reuters will bring you an expert guide everyday this week into what has changed since the Lehman Brothers, when nearly every morning’s market open brought worries of a bank, investment fund or insurer going under. Today, Americas Economics and Markets Editor Dan Burns remembers reporting the financial crash and discusses what has changed since.

When people forget what went awry in 2008, they risk repeating the errors of the past, writes Rob Cox for Breakingviews, which is publishing a series called ‘Ten Years After’. In an initial podcast, Columbia University history professor Adam Tooze joins the dots from the 2008 collapse to Brexit and the election of Donald Trump to the U.S. presidency.

Brian Duperreault remembers another era when American International Group was trying to blaze a trail toward greatness. Now, the insurer’s CEO is trying to restore lost shine to a company that has struggled ever since a $182 billion taxpayer bailout saved it from collapse in 2008.

BUSINESS

Leslie Moonves, the top executive at CBS since 2006 and a major figure at the broadcast network and media company for more than two decades, resigned on Sunday amid a new wave of allegations against him of sexual assault and harassment.

Jack Ma, the charismatic co-founder of China’s largest e-commerce firm Alibaba Group Holding, will step down as chairman in one year to concentrate on philanthropy and education, passing on the reins to trusted lieutenant Daniel Zhang.

REUTERS TV

With a formation of glowing drones, lasers and stadium-sized gymnastics shows, North Korean leader Kim Jong Un relaunched the “Mass Games” on Sunday in a pageant that declared that “waves” of international sanctions would break against the strength of North Korea’s self-reliance. Grace Lee reports.

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