September 14, 2018 / 11:14 AM / 8 days ago

Friday Morning Briefing

Good morning. From debt-logged home mortgages in America to the next TV streaming battle on the Emmys stage, catch up on the latest headlines.

A model presents a creation from the Marc Jacobs Spring/Summer 2019 collection at New York Fashion Week, New York, U.S., September 12, 2018. REUTERS/Andrew Kelly

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TEN YEARS AFTER

Heavily-mortgaged homeowners are still facing painful choices a decade on from the financial crisis, as nearly one in ten owe more to their lenders than their houses are worth.  

Ten years after the financial crisis and millions of Americans like Michael Payne of Pennsylvania are still trapped in mortgages that carry balances exceeding the value of their home.

Since the fall of Lehman Brothers, the number of millionaires in the U.S. rose from three to five million, in Europe the number grew by roughly the same amount and China also doubled its millionaires. In the latest installment of our multimedia series, Reuters correspondent Karolina Tagaris explains how wealth has been distributed ten years since the 2008 crash.  

UNITED STATES

Some 8,000 people were driven from their homes in the Boston suburbs by a series of gas explosions, and it was unclear when they could go back.

Trump’s former campaign chairman Paul Manafort is nearing a plea deal with U.S. prosecutors to avoid a second criminal trial, according to sources.  

Growing in size despite its weakening winds, Hurricane Florence crept closer to the U.S. East Coast as disaster mobilizations expanded south from the Carolinas into Georgia to counter the deadly threat of high seas and floods. Reuters Graphics mapped the latest developments.  

The First Amendment, gun litigation, President Donald Trump’s impact on the judiciary: The hurricane of daily legal news seems to never let up. A new podcast series from Reuters columnist Alison Frankel goes right into the eye of the storm, talking about law and precedent with experts who know their stuff inside and out. Listen to episode two: Is America actually safer because you can’t sue gunmakers over mass shootings?

WORLD

Next week’s inter-Korean summit will test whether South Korean President Moon Jae-in can pull off his role of mediator and salvage stalled nuclear talks between Pyongyang and Washington.  

U.S. Ambassador to the United Nations Nikki Haley described Suu Kyi’s remarks on the imprisonment of two Reuters reporters as “unbelievable,” in what appeared to be the sharpest direct public rebuke of the Myanmar leader by a U.S. official. Read the latest on their case. 

COMMENTARY

Were some Russian oligarchs also a target in the poisoning of former Russian double agent Sergei Skripal and his daughter Yulia? Steven E. Halliwell, former corporate finance head of Central and Eastern Europe for Citibank N.A., writes that Vladimir Putin may have hoped that the Salisbury attack would prompt British authorities to put pressure on rich London-based Russians to explain the source of their wealth.  

BUSINESS

Indian refiners will cut their monthly crude loadings from Iran for September and October by nearly half from earlier this year as New Delhi works to win waivers on the oil export sanctions Washington plans to reimpose on Tehran in November.

The next battle in the streaming TV wars will unfold on Monday’s Emmys stage, where Netflix aims to end HBO’s 16-year streak as the night’s biggest winner and earn bragging rights for its marketing.

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