The countdown is on as Vice President Kamala Harris and former president Donald Trump make their final preps ahead of their first presidential debate. An Israeli missile attack set fire to a tent camp for displaced Palestinians killing more than 40 people. Ukraine strikes Moscow in its biggest drone attack to date. We take a look at how Nippon Steel’s bid to buy U.S. Steel unraveled. The German government announces plans to crack down on immigration and impose tighter controls at all its land borders. And Huawei takes the gloves off, unveiling a $2,800 tri-foldable phone as it seeks to eclipse Apple’s new iPhone.
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Today, it's crunch time a Harris and Trump campaign HQ is ahead of tonight's debate. A look at how Nippon steals deal to buy U.S. steel buckled under political pressure from the U.S. Germany tight his border controls in an immigration crackdown. And Apple tries to compete with Huawei for China's phone market. It's Tuesday, September 10th. This is Reuters World News, bringing you everything you need to know from the front lines in 10 minutes every weekday. I'm Tara Oakes in Liverpool. And I'm Christopher Wall Jasper in Chicago. This is the sound of your ride home with Dad after he caught you vaping. Awkward, isn't it? Most vapes contain seriously addictive levels of nicotine and disappointment. Know the real cost of vapes brought to you by the FDA. Survivors of an Israeli missile attack in Gaza gather round a deep crater. Israeli missiles set a tent camp for displaced Palestinians on fire, killing at least 40, including women and children. That's according to the enclave's civil emergency service. The Israeli military says it was a strike on a Hamas command center. Some medics say the camp was an Israeli-designated safe zone. A resident of a Moscow high-rise apartment block describing a Ukrainian drone attack which damaged his building. Ukraine hit Moscow and Western Russia with one of its biggest drone attacks to date. At least 144 drones, killing at least one woman, damaging dozens of homes and forcing three of the capital's four airports to close. It's not a great start for day for either Apple or Alphabet's Google. Apple has lost its fight against an EU order to cough up more than $14 billion in backtaxes to Ireland. And Google has lost its fight against a fine levied by the EU seven years ago, meaning it's still on the hook for that $2.7 billion for anti-competitive practices. We'll have more on Apple's new launch later in the pot. Hundreds of workers at a Samsung plant in India are on strike for a second day. Union leaders are demanding higher wages and better working hours. The former partner of Ugandan marathon runner Rebecca Cheptagay has died. He was accused of killing her by dowsing her in petrol and setting her on fire, and has himself died from burns sustained during that attack. Britain's Princess of Wales, Kate, says she has finished her preventative chemotherapy for cancer after it was diagnosed following major abdominal surgery in January. "The last nine months have been incredibly tough for us as a family." And legendary actor James Earl Jones has died. The 93-year-old, best known for his deep voices Darth Vader, overcame a stutter and went on to win Tony, Emmy and Grammy Awards. Tonight is the night. Donald Trump and Kamala Harris will face off for their first presidential debate in Philadelphia, and we'll of course have post-debate coverage on tomorrow's episode. But the setting in the must-win state of Pennsylvania is also at the heart of an international business deal that's on the verge of collapse. That's U.S. Steel's potential sale to Japan's Nippon Steel. White House correspondent Alexandra Alper has the story on how the once-sweetheart deal has since unraveled. So Alexandra, where did Nippon Steel go wrong in trying to read the current American political scene? "On its surface you see a successful Japanese company from an allied nation willing to take a stake in a struggling U.S. company in a critical industry. So isn't this a win-win, isn't this a no-brainer? But obviously this happened to come about during a very tense election year, right? And as we know, U.S. Steel is headquartered in Pennsylvania, a swing state. You've got the union of U.S. Steel opposing the Nippon Steel takeover. So it just suddenly became quite the political hot potato." And did the Japanese company realize it might have a problem? So the first kind of shot across the bow in March, President Biden took the very unprecedented step of saying that he opposed the deal. Fast forward to August 31, 17-page letter comes from Siphias with no warning to the companies. In it, they say, "This deal presents a national security risk to the U.S. Steel supply chain." And in it, there is no mention of the possibility of mitigating the risk or assuaging the concerns. And that really sealed the deal. From there, the parties really felt like it was almost the deal was like on life support. And a reminder that if you need a primer ahead of the U.S. presidential debate, listen to our weekend podcast special, but we dig into what Harris and Trump have to pull off on stage tonight. And tonight's presidential debate has the potential to jolt markets. Kamal Krimans gives us the best of hype. So markets are already on tenterhooks, waiting to see what the Fed does at next week's policy meeting. But the political uncertainty is adding to the nerves. If you think about it, the last presidential debate resulted in a brand new Democratic candidate. So tonight's event could generate some volatility. Wall Street's fear gauge the VIX is elevated. It's hovering around 20. If you're interested, you can hear more about the VIX and the seasonal volatility that hits U.S. stocks this time of year in the latest episode of my podcast, Reuters Econ World. You can catch it on Reuters.com, the Reuters app, or wherever you listen to your podcasts. German interior minister Nancy Phaser announcing temporary border controls and all of Germany's land borders. The government says is in order to tackle irregular migration and protect the public from Islamist extremism. Sarah Marsh is following the story in Berlin. Sarah, how does this work in the EU? Isn't it supposed to be an area of pre-movement? Yeah, that's correct. The idea is that in the Shanghai zone, you can cross borders between countries without needing passport or being controlled by the police. But there is a provision in the EU rules allowing the reintroduction of controls and exceptional circumstances. And increasingly, as recently as they've done so with rising irregular migration. So Germany's far from the first country to do so, but in a way it had been seen as a beacon of hope, I think, from many asylum seekers because it had more of an open door policy than other countries. And in terms of context for this politically, domestically, the AFD earlier this month became the first far-right party since World War II to win a state election in Germany. Will this border move be enough for the central left government to win back voters? So the government portrayed it as a move to alleviate public services and municipalities that are overwhelmed by the number of people seeking asylum in Germany and also to ensure security, given a number of life attacks lately in which the suspects were asylum seekers. But it does seem that this is also an attempt to win back voters concerned about migration, given the strength of the far-right in recent elections. But at the same time, it could backfire basically because it could strengthen right-wing parties who say that this is what they've been advising all along. Why haven't you been taking them seriously? And ultimately, they're the ones about to see as having the expertise on migration. Apple has announced its new iPhone 16. But just a few hours after Apple's release, which included a 4K camera and AirPods that could be used as hearing aids, a Chinese competitor Huawei held its own phone release. The Chinese phone maker says it's presold more than 3 million of its new triple folding device, even before Apple's announcement. Max Tierney was at the Apple launch event in Cupertino, California. Max, how are we going to see this AI integration show up in the next generation of iPhone? So the short answer is they won't have new AI features when they roll out. Apple already has a lot of machine learning and AI features on their phone. The phones will get beta features in October, and then more features will roll out later on this year. So did Apple give a preview of what this AI might look like once it starts hitting the devices? Yeah, absolutely. One of the features that the company talked a fair bit about is writing assistant. And it can do things like proofread, the text, summarize the text. The company also has a number of AI features related to its camera that will roll out over time. What does Huawei's decision to launch their device just hours after Apple's announcement say about the state of competition in China? So Huawei is positioning itself as the biggest sort of homegrown iPhone competitor in China. And the way it's planned its event around Apple's is just another example of it attempting to ensure it gets some of the spotlight around one of the biggest consumer electronics events of the year. Today's recommended read is about the fear of a lost generation of Palestinian children. It's officially the new school year in the Palestinian territories, and every single school in Gaza is shut. Over half a million school children are missing classes, including more than 50,000 who should have started first grade. For more on that or on any of the stories from today, check out Reuters.com or the Reuters app. To never miss an episode, subscribe on your favourite podcast player. We'll be back tomorrow with our daily headline show. (upbeat music)
