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Friday Morning Briefing
September 22, 2017 / 11:32 AM / 2 months ago

Friday Morning Briefing

Kim Jong Un issued new nuclear test threats, London’s transport regulator stripped Uber of its license and a U.S. Department of Homeland Security report revealed critical cyber security weaknesses on the SEC’s computers were detected earlier this year.

North Korea's leader Kim Jong Un makes a statement regarding U.S. President Donald Trump's speech at the U.N. general assembly, in this undated photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang September 22, 2017. KCNA via REUTERS

North Korea

North Korea said might test a hydrogen bomb over the Pacific Ocean after U.S. President Donald Trump vowed to destroy the reclusive country, with leader Kim Jong Un promising to make a “mentally deranged” Trump pay dearly for his threats. South Korea said it was the first direct statement of its kind by a North Korean leader.  

Detonating a nuclear-tipped missile over the Pacific Ocean would be a logical final step by North Korea to prove the success of its weapons program but would be extremely provocative and carry huge risks, arms control experts said. 

Graphic: Nuclear North Korea

Iran

Iran will strengthen its missile capabilities and will not seek any country’s permission, President Hassan Rouhani said in a snub to demands from Trump. Rouhani was speaking at a military parade where an Iranian news agency said one of the weapons on display was a new ballistic missile with range of 2,000 km (1,200 miles), capable of carrying several warheads. 

Cyber

The U.S. Department of Homeland Security detected five “critical” cyber security weaknesses on the Securities and Exchange Commission’s computers as of January 23, 2017, according to a confidential weekly report reviewed by Reuters. The report’s findings raise fresh questions about a 2016 cyber breach into the U.S. market regulator’s corporate filing system known as “EDGAR.” SEC Chairman Jay Clayton disclosed that the agency learned in August 2017 that hackers may have exploited the 2016 incident for illegal insider-trading. Read the exclusive.

Breakingviews TV: SEC’s cyber failure

Hack of Wall Street regulator rattles investors, lawmakers

Business

T-Mobile is close to agreeing tentative terms on a deal to merge with peer Sprint, people familiar with the matter said, a major breakthrough in efforts to merge the third and fourth largest U.S. wireless carriers. 

London’s transport regulator stripped Uber of its license to operate from the end of the month, affecting over 40,000 drivers in a huge blow to the taxi app. “Uber’s approach and conduct demonstrate a lack of corporate responsibility in relation to a number of issues which have potential public safety and security implications,” Transport for London (TfL) said.  

Jitters over a fresh exchange of barbs between North Korea and the United States eased in Europe as strong economic data supported European stocks, and investors’ focus turned to a planned speech by Britain’s prime minister on Brexit. 

Flood, fix and flip: Houston housing investors see profit in Harvey's wake

Apple's iPhone 8 sees muted launch in Asia

Despite tough talk, Canada unlikely to walk away from NAFTA

Equifax under pressure from banks to shape up 

Federal Reserve

Backstory: The fate of trillions of dollars rests on 30 minutes with the Fed

From her early days as Federal Reserve chair, Janet Yellen has been the target of criticism from Republicans worried that the central bank’s massive bond-buying programs and near-zero interest rates engineered by her predecessor would be the ruin of the country. With little more than four months left in her term and questions swirling over whether the White House will ask her to stay on for another four years, Yellen has turned that story around.

An aerial view shows the R257 "Yenisei" federal highway in the Siberian Taiga area outside Krasnoyarsk, Russia September 21, 2017. REUTERS/Ilya Naymushin

An aerial view shows the R257 "Yenisei" federal highway in the Siberian Taiga area outside Krasnoyarsk, Russia September 21, 2017. REUTERS/Ilya Naymushin

Special Report

Meet the Nujaba militia: based in Iraq, backed by Iran, pushing across Syria. Some fight because of their strong religious beliefs, but many are poor Shi’ites from southern Iraq, tempted by payments of up to $1,500 per month from Iran. The group is loyal to Iran's Supreme Leader and is trying to forge a land route from Iran to Syria, which threatens to exacerbate tensions in the region. 

World

The United Nations estimates that $200 million will be needed over the next six months to help Rohingya Muslim refugees who have fled to Bangladesh from Myanmar in “massive numbers” to escape a bloody military campaign. 

Exclusive: Turkey to deploy troops inside Syria's Idlib - Erdogan

Breakingviews: Diplomatic fog blinds China and U.S. over N. Korea

Reuters TV: Germans to vote against a backdrop of division

Mexicans respond with faith and charity as hope fades for quake survivors

Hurricane Maria churns toward Turks and Caicos and leaves 32 dead

Commentary

Trump’s opening speech at the United Nations General Assembly on Tuesday is drawing widespread criticism for his aggressive statements about North Korea and Iran, but it is just as significant for what he didn’t mention at all, writes columnist Tania Karas.

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