Daily Briefing

China warns against a 'new Cold War', Britain will declare Russia's Wagner a terrorist organisation, and India's Tata looks to take on Pepsi.

Business leaders, scientists and thinkers are gathering in London for Reuters Impact, our flagship climate summit. You can watch the latest panels live here.

By Linda Noakes

Today's Top News

US Secretary of State Antony Blinken and Minister of Foreign Affairs of Ukraine Dmytro Kuleba visit a military section of a cemetery in Kyiv, September 6, 2023

RUSSIA-UKRAINE WAR

US Secretary of State Antony Blinken arrived in Kyiv in a gesture of support as Ukraine's counteroffensive against Russian forces grinds into its fourth month with only small gains. He's expected to announce over $1 billion of new US funding for the country.
Ukraine's military reported advances and robust defense along the front lines, with Moscow acknowledging "tension" in the southern sector but dismissing Kyiv's campaign as unsuccessful.
Arms negotiations between Russia and North Korea are actively advancing, a US official said and warned leader Kim Jong Un that his country would pay a price for supplying Russia with weapons to use in Ukraine.
The Russian mercenary Wagner Group is set to be proscribed as a terrorist organization by the British government, making it illegal to be a member or to support the group.

IN OTHER NEWS

Last month was the hottest August on record globally, the third straight month in a row to set such a record following the hottest ever June and July, the European Union's Copernicus climate change panel said.
At least five people were killed after heavy rains triggered flash floods in northwest Turkey. In neighboring Greece, at least two people died and three were missing after torrential rain flooded homes and businesses and destroyed infrastructure.
Chinese Premier Li Qiang said it is important to avoid a "new Cold War" when dealing with conflicts between countries as world leaders gathered in Indonesia amid sharpening geopolitical rivalries across the Indo-Pacific region.
A former leader of the right-wing Proud Boys group, Enrique Tarrio, was sentenced to 22 years in prison for his role in the January 6, 2021, attack on the US Capitol, the longest sentence so far in the case.
An air traffic meltdown that hit Britain last week was caused by a "one in 15 million" event, the boss of traffic control provider NATS said, after it cited a flight plan with two identically named markers as the reason for the chaos.

Business & Markets

A view shows packets of snacks on the shelves inside a Haldiram's restaurant in Mumbai, India, September 6, 2023

Tata Group's consumer unit is in talks to buy at least 51% of popular Indian snack food maker Haldiram's but is not comfortable with the $10 billion valuation sought, two people briefed on the matter said. If successfully concluded, a deal would see the Indian conglomerate directly compete with Pepsi and billionaire Mukesh Ambani's Reliance Retail.
Huawei's breakthrough in making an advanced chip underscores China's determination and capacity for fighting back against US sanctions, but the efforts are likely very costly and could prompt Washington to tighten curbs, analysts said.
Apple has signed a new deal with Arm for chip technology that "extends beyond 2040," according to Arm's initial public offering documents. Arm unveiled pricing yesterday for what it hopes will be a $52 billion IPO, which would be the largest such deal in the US this year.
Saudi Arabia's STC Group has amassed a 9.9% stake in Telefonica worth $2.25 billion, in a move to become the Spanish telecom giant's top shareholder.
The G7 and allies have shelved regular reviews of the Russian oil price cap scheme, people familiar with the matter told Reuters, even though most Russian crude is trading above the limit because of a rally in global crude prices.

EV broken? Finding a technician to fix it may take a while

An instructor talks to electric vehicle repair trainees in Ash Vale, Britain, July 19, 2023

A global shortage of technicians and independent repair shops qualified to fix electric vehicles threatens to increase repair and warranty costs for drivers, potentially undermining upcoming deadlines to cut vehicle carbon emissions.

From Milan to Melbourne to Malibu, technician training organizations, warranty providers and repairers say that independent repair shops will be vital for making EVs affordable because they are far cheaper than franchise dealers.

Read this report from our autos team on how carmakers are scrambling to train technicians.

And Finally...

Britain's King Charles is pictured during the Royal Procession ahead of the day's races at Ascot, Britain, June 21, 2023

King Charles has trodden a cautious but successful path in his first year on the British throne, friends and royal watchers say, but rifts within his family still hang over his reign.

Read more here: How has Charles done in his first year as monarch?

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