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Daily Briefing

It's a big week for diplomacy, with the NATO leaders gathering in the Lithuanian capital from tomorrow. Top of the agenda? The war in Ukraine. But before that, Biden meets King Charles and Rishi Sunak.

Plus, Russia's top general is shown in a video for the first time since the failed June 24 mutiny.

By Edson Caldas

Today's Top News

Biden disembarks Air Force One as he visits Britain, at Stansted Airport, July 9, 2023. REUTERS/Kevin Lamarque

DIPLOMACY

US President Joe Biden will look to deepen his relationships with Britain's King Charles and Prime Minister Rishi Sunak at separate meetings where climate change and Ukraine are expected to dominate the agenda. Biden landed in London late on Sunday to kick off a three-nation trip including the NATO summit.
The trip has been preceded by Biden's decision to supply Ukraine with widely banned cluster bombs. Listen to the Reuters World News podcast for more.
NATO leaders gather in Vilnius from tomorrow aiming to overcome divisions on Ukraine's push for a path to membership and end Turkey's block on Sweden joining the alliance. Here is a list with these and other issues to be discussed and an explainer on why the Baltic states are strategically important for NATO.
US Treasury Secretary Janet Yellen went to China with no expectations of immediately easing tensions between the two countries. There was no breakthrough. But Yellen met her objective of opening communications with her Chinese counterpart and explaining US intentions on a broad range of policies.

AROUND THE WORLD

A 25-year-old man was suspected of attacking a kindergarten in China's Guangdong province, killing six people and injuring one, triggering an outpouring of concern about violence against children at school. Media reported the attack in Lianjiang county in the southern province was a stabbing.
Torrential rain across northern India has killed at least 22 people, as well as causing landslides and flash floods in the region. Schools in New Delhi were closed, and authorities in the states of Himachal Pradesh and Uttarakhand asked people not to venture out of their homes unless necessary.
Russia's top general, Valery Gerasimov, was shown in a video released today for the first time since a failed June 24 mercenary mutiny. The footage indicates that President Vladimir Putin has kept his two most powerful military men, Defense Minister Sergei Shoigu and Gerasimov, in their posts despite demands from mercenary leader Yevgeny Prigozhin to sack them.

Business & Markets

China's producer prices fell at their fastest pace in over seven years in June, while consumer prices teetered on the edge of deflation. The worsening factory-gate price deflation and the move by consumer prices towards deflation for the first time since February 2021 bode ill for the country's economic growth.
Thailand's Siam Motors is in talks with several Chinese automakers about potential partnerships, particularly for electric vehicles. It reflects a shift underway in Thailand, where Chinese investments worth $1.44 billion since 2020 have opened a new front in a market Japanese automakers historically dominated. For more news on the industry, sign up to the Auto File newsletter.
An increasing number of countries are repatriating gold reserves as protection against the sort of sanctions imposed by the West on Russia, according to an Invesco survey. The financial market rout last year caused widespread losses for sovereign money managers who are "fundamentally" rethinking their strategies.
When it comes to taking stock of global emissions, there's an elephant in the room: the world's armed forces. Scientists and environmental groups are stepping up pressure on the U.N. to force armies to disclose their emissions and end an exemption that has kept some of their climate pollution off the books.

New twist on NIMBY: No factory in my backyard

Fred and Joan Chapman in front of their house near a land that will be home to a proposed Ford EV battery plant in Marshall Township, Michigan, June 28, 2023. REUTERS/Ben Klayman

Fred Chapman has a message for Ford, which is planning to build a sprawling factory on the outskirts of this town to make batteries for electric cars and which promises to employ 2,500 people. “We don’t need jobs,” he says.

Ford officials have run up against resistance to its plans in the latest iteration of a phenomenon known as NIMBY, which stands for "Not In My Back Yard." Not everyone wants giant projects, even in places that would seem ripe for a factory renaissance.

Read our report here.

And Finally...

Margot Robbie poses on the pink carpet for the world premiere of the film "Barbie" in Los Angeles, July 9, 2023. REUTERS/Mike Blake

"Barbie" actress Margot Robbie said she was bewildered by the love fans are showing for the movie before its worldwide release in cinemas next week. "I knew how excited we felt about sharing this movie and I had hoped that other people would feel that excitement too but it's kind of come back at us with so much enthusiasm and excitement, I'm even shocked, very shocked," Robbie told Reuters at the film's world premiere in Los Angeles.

Read more here.

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