Tuesday Morning Briefing: Trump, Kim agree on denuclearization, but deal seen symbolic

U.S.-NORTH KOREA SUMMIT HIGHLIGHTS

U.S. President Donald Trump and North Korean leader Kim Jong Un pledged to work toward complete denuclearization of the Korean peninsula while Washington committed to provide security guarantees for its old enemy. The joint statement signed at the end of their historic summit in Singapore gave few details on how either goal would be achieved but Trump fleshed out some details at a news conference.

Residents of the Chinese city that stands to benefit the most from a positive outcome from today’s historic U.S.-North Korea summit in Singapore said they were hopeful that it would lead to peace and bolster cross-border business.

Breaking down the body language: Kim Jong Un and Trump met at their historic summit in Singapore. Reuters spoke with a body language expert to analyse Kim’s and Trump's movements during their initial meet.

Soyoung Kim  @SoyoungSays

Instant View: Trump and Kim pledge to work towards denuclearization at historic summit https://reut.rs/2y2bTj6

4:43 AM - Jun 12, 2018

World

Trump’s blistering attack on Canadian Prime Minister Justin Trudeau has driven bilateral relations to their lowest point in decades and left Ottawa with few options for averting a trade war with its much bigger neighbor.

British Prime Minister Theresa May faces a showdown with lawmakers who want power to force her government to go back to the negotiating table if they reject a Brexit deal, testing her plans for leaving the European Union.

Commentary: The battle to determine the composition of the next Iraqi government has not yet been won, writes Nussaibah Younis. However, Iran could secure a strategic victory in the face of lackluster engagement by the United States. “Senior U.S. foreign policy officials are distracted by the upcoming summit with North Korea, while those assigned to push back against Iranian influence are solely focused on re-imposing sanctions – failing to appreciate the significance of this potential turning point for Tehran’s regional influence.”

Sponsored by Barclays: Automation’s delayed economic impact Workplace automation is increasing, yet key economic indicators seem unaffected. Why aren’t unemployment, wages and productivity responding? Find out.

Soccer World Cup

They may not have qualified for the tournament, but travelers from the United States are among those most gripped by World Cup fever in terms of flight bookings to Russia, with bookings up 66 percent, data showed.

Eight years after South Africans blared away on their plastic vuvuzela horns when they hosted the contest, Russians are hoping fans at the tournament it hosts starting on Thursday will celebrate by clacking their “lozhkas” - spoons that beat out an insistent, but quieter rhythm.

Business

Second jobs, once rare in Japan, are reshaping attitudes about work

Japanese workers are signing up for second jobs in record numbers to earn extra cash as wages stagnate, stirring hopes of a rise in consumer spending but adding to fears of overwork in a society notorious for long hours. For more world at work stories.

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OPEC will squeeze oil buffer to historic lows with an output hike

The oil industry will face the biggest squeeze on its spare production capacity in more than three decades if OPEC and its allies agree next week to hike crude output, leaving the world more at risk of a price spike from any supply disruption.

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Louboutin wins EU court battle over trademark red soles

Christian Louboutin’s battle to protect his trademark red soles was given a lift when the European Union’s top court said they did not consist exclusively of a shape, which are usually not protected under EU trade mark law.

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