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Daily Briefing

Trump pleads not guilty to Georgia election subversion, Typhoon Saola grounds flights in Hong Kong, and fast fashion firms prepare for an EU crackdown.

Plus, a mass hunger strike by political prisoners in Bahrain marks the biggest challenge to the country's ruling family for years. Listen to the Reuters World News daily podcast for more.

By Linda Noakes

Today's Top News

People brave strong winds as Super Typhoon Saola approaches, in Hong Kong, September 1, 2023. REUTERS/Tyrone Siu

Hong Kong and China's neighboring populous province of Guangdong cancelled hundreds of flights as fears of powerful Typhoon Saola forced some mainland cities to shut businesses, schools and financial markets.
A federal judge will sentence two more members of the far-right Proud Boys who stormed the US Capitol on January 6, 2021. District Judge Timothy Kelly yesterday ordered two other former Proud Boys leaders to serve 17 years and 15 years in prison.
Former President Donald Trump pleaded not guilty to a Georgia criminal indictment accusing him of trying to overturn his 2020 election defeat and asked to be tried separately from some of his 18 co-defendants.
Thailand's king has commuted former prime minister Thaksin Shinawatra's eight-year prison sentence to one year, a day after the billionaire submitted a request for pardon. The former premier returned to Thailand last week in a dramatic homecoming after spending 15 years abroad in self-exile to avoid prison.
Australia recorded its warmest winter on record, its weather bureau said ahead of a widely anticipated decision over whether to declare El Nino conditions, which typically bring hotter, drier weather.
Russia's failed Luna-25 mission left a 10-meter wide crater on the moon when it crashed last month after a problem preparing for a soft landing on the south pole, according to images released by NASA.

Business & Markets

China stepped up measures to boost the country's faltering economy, with top banks paving the way for further cuts in lending rates and sources saying Beijing plans further action including relaxing home-purchase restrictions. Here's why China's economy is slowing down.
Roughly 27% of tests performed on shoes and garments collected by US Customs and Border Protection in May showed links to cotton from China's Xinjiang region, which has been banned because of concerns over forced labor, according to documents obtained by Reuters under the Freedom of Information Act.
Tesla unveiled a restyled, made-in-China Model 3 with a longer driving range, the first time the automaker has launched a new model in China ahead of the United States.
In a warehouse on the outskirts of Barcelona, women stand at conveyor belts, manually sorting T-shirts, jeans and dresses from large bales of used clothing - a small step towards tackling Europe's towering problem of discarded fashion. We look at how fast fashion firms are preparing for an EU crackdown on the clothing waste mountain.
Voluntary carbon markets have shrunk for the first time in at least seven years, as companies including food giant Nestle and fashion house Gucci reduced buying and studies found several forest protection projects did not deliver promised emissions savings.

The Week Ahead

As an awful August gives way to an uncertain September, investors hope this month will confirm that the seemingly relentless rise in interest rates will end soon, meaning respite for both stocks and bonds.
But there are a few snags. This September is chock-full of risk events, including central bank meetings, a G20 summit and make-or-break data, not to mention that it tends to be the worst month of the year for the mighty S&P 500.
Here's a look at the week ahead from our markets team.
How to finance environmental priorities and shift the focus from Africa as victim of floods and famine will be central to the debate at the continent's first climate summit next week, while activists resist plans to expand carbon markets for funding.

From War Bunker To Penthouse To Market Flop

Cars drive past an air raid shelter converted into luxury apartments in Munich, Germany, August 27, 2023. REUTERS/Leonhard Simon

It has been a tumultuous year for one prominent German property developer: his efforts to sell his penthouse atop a Nazi-era air raid shelter have stalled, and just weeks ago his firm filed for insolvency.

The one-two punch for the developer, Stefan Hoeglmaier, and his company, Euroboden, mirror the travails of the broader property sector across Europe's largest economy as it suffers its worst slump in decades.

Here's how Germany's property boom ended.

Oddest Photos Of The Week

Gravy wrestling, tomato fighting and a celebration of redheads. Take a look at the most unusual images our photographers captured this week.

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