Good morning! Here’s what you need to know.
1. North Korea has produced a nuclear warhead small enough to fit inside its missiles, the Washington Post reported Tuesday, a major development sure to further inflame tensions. The Post cited parts of an analysis conducted by the Defence Intelligence Agency that says the intelligence community thinks North Korea has “nuclear weapons for ballistic missile delivery” — including in intercontinental ballistic missiles.
2. Bahrain and the United Arab Emirates have agreed to open up flight corridors for sanctions-hit Qatar’s state-owned flag carrier Qatar Airways, the world aviation agency said. The Montreal-based International Civil Aviation Organisation has been working with “various Middle Eastern states to ensure equitable access to airspace for Qatar-registered aircraft” since sanctions were announced on June 5.
3. US job openings jumped to a record high in June, outpacing hiring, the latest indication that companies are having trouble finding qualified workers. The monthly Job Openings and Labour Turnover Survey, or JOLTS, released by the Labour Department also underscored labour market strength that will likely encourage the Federal Reserve to continue tightening monetary policy.
4. US trade officials have agreed to investigate Qualcomm’s allegations that Apple Inc infringed on patents with its iPhone7 and other devices. The ITC will make its decision “at the earliest practicable time” and will set a target date for completing its investigation within the next 45 days, the commission said in a statement.
5. British enterprise software startup Huddle is selling to San Francisco-based private equity firm Turn/River, after months of financial struggles left the firm urgently seeking a buyer or a new round of funding. The company offers collaboration software and competes with Silicon Valley rivals like Box and Dropbox.
6. Emmanuel Macron will host other major European leaders this month for talks on migration, the economy and defence. His popularity waning at home, Macron will hold talks with Germany’s Angela Merkel, Spain’s Mariano Rajoy and Italy’s Paolo Gentiloni on Aug 28, a French official said on Tuesday.
7. Igor Sechin, the chief executive of Russia’s largest oil company Rosneft, will appear as a witness in the trial of former Russian Economy Minister Alexei Ulyukayev.Ulyukayev was dismissed and put under house arrest in November over allegations he extorted a $US2 million bribe from Rosneft. He denies the charges.
8. Saudi Aramco said it has awarded the first major contract in the planned construction of a $US5.2 billion shipyard complex designed to reduce Saudi Arabia’s dependence on oil exports. The national oil company awarded the contract for dredging, reclamation and marine structures to a consortium comprising Saudi Archirodon and Huta Hegerfeld AG Saudia.
9. Fashion accessories maker Michael Kors posted a better-than-expected quarterly profit and revenue on Tuesday and lifted its annual revenue forecast. The company, which agreed to buy luxury shoemaker Jimmy Choo last month, said the deal would add about $US275 million to Kors’ revenue in the second half of the year ending March 2018, assuming the acquisition is completed by the third fiscal quarter.
10. China is worried it could face fresh criticism over its actions in the South China Sea when Singapore becomes chairman of the Association of South East Asian Nations next year, and is putting pressure on the city-state to make sure that doesn’t happen, Reuters reported. They say that Chinese representatives have told Singapore counterparts in private meetings over recent months that they don’t want trouble for Beijing when Singapore takes over the annual leadership of the 10-nation group in 2018.