Johannesburg apartment fire kills 73

Plus, how Evergrande's downfall signaled China's property crisis.

View in Browser Sign up for Reuters newsletters Daily Briefing A fire in Johannesburg kills at least 73 people, a newly released video shows Prigozhin talking about his security only days before his death, and Florida's Gulf Coast begins a cleanup from Hurricane Idalia.   Plus, how Evergrande's collapse foreshadowed China's property crisis.   By Edson Caldas Today's Top News Firefighters work at the scene of a deadly blaze in the early hours of the morning, in Johannesburg, South Africa, August 31, 2023. REUTERS/Shiraaz Mohamed Scores were killed overnight when fire tore through a Johannesburg apartment block occupied by homeless people, officials and local media said, as emergency evacuations from the building continued. Tim Cocks, our chief correspondent for Southern Africa, shares the latest on today's Reuters World News podcast. Gabon awaits the next move by its new military junta one day after it overthrew the government, named a new leader and detained long-standing President Ali Bongo in his residence. The coup is the eighth in West and Central Africa since 2020, and the second - after Niger - in as many months. A newly released video of Russian mercenary boss Yevgeny Prigozhin purports to show him only days before his death, addressing speculation about his wellbeing and possible threats to his security. On Wednesday, the Kremlin said his plane may have been downed on purpose. North Korea conducted a simulated "scorched-earth" nuclear strike on targets across South Korea, in reaction to allied exercises that it said amounted to plans for a preemptive nuclear attack by the US. State media spelled out in unusual detail how the North envisions a potential war. Chinese President Xi Jinping is likely to skip a summit of G20 leaders in India next week, with Premier Li Qiang expected to represent Beijing instead, sources familiar with the matter told Reuters. EXTREME WEATHER Cleanup and recovery from Hurricane Idalia began along Florida's Gulf Coast, where property damage, loss of life and power disruptions paled in comparison to the last major hurricane that struck the state nearly a year ago. Still, insurers were expected to face claims for billions of dollars. China issued the highest typhoon warning as Saola, packing winds of more than 200 kph (125 mph), headed towards the southeastern coastline, threatening Hong Kong and other major manufacturing hubs in nearby Guangdong province. Keep an eye on our environment coverage for the latest. Business & Markets China's manufacturing activity contracted for a fifth straight month, maintaining pressure on officials to provide support to shore up economic growth. The official purchasing managers' index rose to 49.7 from 49.3 in July, staying below the 50-point level demarcating contraction from expansion. Some coal producers are having to set aside tens of millions of dollars to cover their own risks as they are cut adrift by insurers, making it more difficult and costly to do business. Reuters spoke to five coal mining executives who said that the industry is increasingly moving towards self-insurance and self-finance. UBS plans to cut 3,000 jobs in Switzerland in the next couple of years, as it offered the first glimpse of how it plans to achieve more than $10 billion in cost savings after taking over Credit Suisse. UBS also announced it would be keeping Credit Suisse's domestic bank. Workers at a major Tokyo department store went on strike after talks with management over the planned sale of their company broke down, marking the first major walk-out the country has seen in decades. They are seeking job and business continuity guarantees. Microsoft will unbundle its app Teams from its Office product, in a move aimed at staving off a possible antitrust fine. The proposed changes came a month after the European Commission launched an investigation into Microsoft's tying of Office and Teams after a complaint by messaging app Slack in 2020. How Evergrande's collapse foreshadowed China's property crisis An aerial view shows the 39 buildings developed by China Evergrande Group, in Danzhou, Hainan province, January 7, 2022. REUTERS/Aly Song/File Photo Evergrande's story reveals the inner workings of a Chinese property giant, from the heady days of rocketing real-estate prices to the precipitous decline of the company when incensed retail investors stormed its offices. The company's arc also traces the fortunes of China's broader property market, a key driver of growth of the world's second-biggest economy – but now an anchor tugging that economy down. Read our special report here. And Finally... Remnants of an ancient channel network of ducts which the Israel Antiquities Authority says were in use around 2,800 years ago, REUTERS/Ronen Zvulun An almost three millennia-old network of ducts unearthed in Jerusalem has baffled archaeologists, given the lack of comparable biblical finds, or obvious links to an ancient Jewish temple and palace that once stood nearby. The knee-deep channels are located outside Jerusalem's walled Old City and stand in two clusters, which were discovered 10 meters (30 feet) apart. Read more here: Archaeologists find 'mystery' ducts near biblical Jerusalem relics Sponsors are not involved in the creation of newsletters or other Reuters news content. Reuters Daily Briefing is sent 5 days a week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here.   Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. Reuters Terms & Conditions and Privacy Statement © 2023 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036

Gabon officers say they seized power

Plus, what to expect when Hurricane Idalia hits Florida.

View in Browser Sign up for Reuters newsletters Daily Briefing Military officers in oil-producing Gabon said they had seized power, Idalia is set to hit Florida as a major hurricane, and Ukrainian drones strike six Russian regions.   Plus, at Taser maker Axon, ex-staffers say loyalty meant being tased or tattooed.   By Edson Caldas Today's Top News Gabonese military appear on television as they announce that they have seized power, in this screengrab obtained by Reuters on August 30, 2023. Gabon 1ere/Handout via REUTERS A group of military officers in Gabon claimed they had seized power after the country's election body announced that President Ali Bongo had won a third term. The officers said the election results were canceled, all borders were closed and state institutions were dissolved. Ed McAllister, our Chief Correspondent for West and Central Africa, shares what this means for the region. A US judge will consider today whether to impose the steepest sentence yet on two former leaders of the right-wing Proud Boys convicted of seditious conspiracy and other crimes for the Jan. 6, 2021, assault on the Capitol by Donald Trump supporters. Millions of Florida residents secured boats and properties and fled to higher ground as Idalia intensified to an "extremely dangerous" Category 4 hurricane and threatened a direct hit on the state's Big Bend region. Here are the most important things to know about its projected impact. A wildfire burning in northeastern Greece has destroyed an area larger than New York City, according to the European Union-backed Copernicus Climate Change Service. Copernicus said last week the fire was the largest on European soil in years, and authorities said the fire was still highly dangerous. UKRAINE WAR Ukrainian drones struck targets in at least six regions in Russia, in one of the broadest volleys yet of Ukraine's campaign to turn the tables on Moscow. The attacks came as authorities in Kyiv reported at least two people killed in what they described as the heaviest air strikes on the city for months. Russia has informed Brazil's aircraft investigation authority that it will not probe the crash of the Brazilian-made Embraer jet that killed Yevgeny Prigozhin under international rules "at the moment". In St Petersburg, followers of the mutinous Russian mercenary laid flowers, messages and poetry at his grave. Business & Markets US Commerce Secretary Gina Raimondo, left, talks with Shanghai Party Secretary Chen Jining, in Shanghai, China, August 30, 2023. Andy Wong/Pool via REUTERS China has defended its business practices after US Commerce Secretary Gina Raimondo said American firms had told her it had become "uninvestible," highlighting a trend of global investors turning away from assets in the world's second-largest economy. Guangzhou became the first major Chinese city to announce an easing of mortgage curbs as the government ramps up efforts to revive the property sector and shore up the sputtering economy. The decision comes as some state-owned banks are expected to lower interest rates on existing mortgages. Nvidia's shares have more than tripled this year in a rally fueled by excitement over the prospects for artificial intelligence. Yet many funds hold less of the stock in their portfolios compared with Nvidia's weight in key equity indexes, making it tougher for them to beat their benchmarks. Toyota is ramping back production at its Japan-based factories after a computer system processing orders for vehicle parts broke down, forcing the closure of 14 assembly plants. The disruption shut down a system that is at the core of Toyota's lean manufacturing. A US judge has rejected Burger King's bid to dismiss a lawsuit claiming that it cheated customers by making its Whopper sandwich appear larger than it actually is. The judge said the company must defend against a claim that its depiction of Whoppers on in-store menu boards mislead reasonable customers. At Taser maker Axon, ex-staffers say loyalty meant being tased or tattooed Axon employee Ross Blank lies face down from his tasing at a company event in January, in a screenshot of a video he posted on LinkedIn. Axon Enterprise is best known for its electroshock Taser device that immobilizes criminal suspects. Less familiar: what one-time staffers describe as an all-in culture, in which some felt pressed to be tased before onlookers, get permanently inked with company tattoos, or join a stock plan that left some in the lurch. Axon says it never pressures employees to do any of these things. Read our special report here. And Finally... A man walks past a poster for the film "The Killer" on the eve of the opening ceremony of 80th Venice Film Festival, in Italy, August 29, 2023. REUTERS/Yara Nardi The Venice Film Festival opens its doors to a stack of highly anticipated movies but less star power than usual, as a Hollywood actors' strike keeps many A-listers off the red carpet. The festival's artistic director Alberto Barbera is putting a brave face on the expected disruption and has managed to attract one of the strongest line-ups in recent years, defying predictions of a no-show by big studio productions. Read more here: Venice hopes strong film line-up eclipses missing stars Sponsors are not involved in the creation of newsletters or other Reuters news content. Reuters Daily Briefing is sent 5 days a week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here.   Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. Reuters Terms & Conditions and Privacy Statement © 2023 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036