Johannesburg apartment fire kills 73

Plus, how Evergrande's downfall signaled China's property crisis.

View in Browser Sign up for Reuters newsletters Daily Briefing A fire in Johannesburg kills at least 73 people, a newly released video shows Prigozhin talking about his security only days before his death, and Florida's Gulf Coast begins a cleanup from Hurricane Idalia.   Plus, how Evergrande's collapse foreshadowed China's property crisis.   By Edson Caldas Today's Top News Firefighters work at the scene of a deadly blaze in the early hours of the morning, in Johannesburg, South Africa, August 31, 2023. REUTERS/Shiraaz Mohamed Scores were killed overnight when fire tore through a Johannesburg apartment block occupied by homeless people, officials and local media said, as emergency evacuations from the building continued. Tim Cocks, our chief correspondent for Southern Africa, shares the latest on today's Reuters World News podcast. Gabon awaits the next move by its new military junta one day after it overthrew the government, named a new leader and detained long-standing President Ali Bongo in his residence. The coup is the eighth in West and Central Africa since 2020, and the second - after Niger - in as many months. A newly released video of Russian mercenary boss Yevgeny Prigozhin purports to show him only days before his death, addressing speculation about his wellbeing and possible threats to his security. On Wednesday, the Kremlin said his plane may have been downed on purpose. North Korea conducted a simulated "scorched-earth" nuclear strike on targets across South Korea, in reaction to allied exercises that it said amounted to plans for a preemptive nuclear attack by the US. State media spelled out in unusual detail how the North envisions a potential war. Chinese President Xi Jinping is likely to skip a summit of G20 leaders in India next week, with Premier Li Qiang expected to represent Beijing instead, sources familiar with the matter told Reuters. EXTREME WEATHER Cleanup and recovery from Hurricane Idalia began along Florida's Gulf Coast, where property damage, loss of life and power disruptions paled in comparison to the last major hurricane that struck the state nearly a year ago. Still, insurers were expected to face claims for billions of dollars. China issued the highest typhoon warning as Saola, packing winds of more than 200 kph (125 mph), headed towards the southeastern coastline, threatening Hong Kong and other major manufacturing hubs in nearby Guangdong province. Keep an eye on our environment coverage for the latest. Business & Markets China's manufacturing activity contracted for a fifth straight month, maintaining pressure on officials to provide support to shore up economic growth. The official purchasing managers' index rose to 49.7 from 49.3 in July, staying below the 50-point level demarcating contraction from expansion. Some coal producers are having to set aside tens of millions of dollars to cover their own risks as they are cut adrift by insurers, making it more difficult and costly to do business. Reuters spoke to five coal mining executives who said that the industry is increasingly moving towards self-insurance and self-finance. UBS plans to cut 3,000 jobs in Switzerland in the next couple of years, as it offered the first glimpse of how it plans to achieve more than $10 billion in cost savings after taking over Credit Suisse. UBS also announced it would be keeping Credit Suisse's domestic bank. Workers at a major Tokyo department store went on strike after talks with management over the planned sale of their company broke down, marking the first major walk-out the country has seen in decades. They are seeking job and business continuity guarantees. Microsoft will unbundle its app Teams from its Office product, in a move aimed at staving off a possible antitrust fine. The proposed changes came a month after the European Commission launched an investigation into Microsoft's tying of Office and Teams after a complaint by messaging app Slack in 2020. How Evergrande's collapse foreshadowed China's property crisis An aerial view shows the 39 buildings developed by China Evergrande Group, in Danzhou, Hainan province, January 7, 2022. REUTERS/Aly Song/File Photo Evergrande's story reveals the inner workings of a Chinese property giant, from the heady days of rocketing real-estate prices to the precipitous decline of the company when incensed retail investors stormed its offices. The company's arc also traces the fortunes of China's broader property market, a key driver of growth of the world's second-biggest economy – but now an anchor tugging that economy down. Read our special report here. And Finally... Remnants of an ancient channel network of ducts which the Israel Antiquities Authority says were in use around 2,800 years ago, REUTERS/Ronen Zvulun An almost three millennia-old network of ducts unearthed in Jerusalem has baffled archaeologists, given the lack of comparable biblical finds, or obvious links to an ancient Jewish temple and palace that once stood nearby. The knee-deep channels are located outside Jerusalem's walled Old City and stand in two clusters, which were discovered 10 meters (30 feet) apart. Read more here: Archaeologists find 'mystery' ducts near biblical Jerusalem relics Sponsors are not involved in the creation of newsletters or other Reuters news content. Reuters Daily Briefing is sent 5 days a week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here.   Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. 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