Good morning, here’s your Tuesday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.
BRICS to band together against Trump
China’s President Xi Jinping will arrive in South Africa today for a state visit, ahead of the BRICS summit scheduled later on in the week.
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President of the United States Donald Trump’s trade tariffs are likely to be the focal point of discussions, with the world’s major emerging economies, including China, Brazil, Russia, India and South Africa, expected to form a united front against Trump.
In a bid to put “America first”, Trump has announced hefty tariffs on various goods entering the United States, which experts have warned threaten to cause serious global economic damage.
Xi Jinping met with South African president Cyril Ramaphosa at 9:40am London time this morning. The two world leaders are expected to address the press at 11:45am.
UK to get tough on foreign takeovers
Foreign investors will face increased scrutiny from the UK government when conducting deals involving British companies, under a new proposal set to be unveiled today.
Dealmakers will be encouraged to notify the government before completing a transaction in a bid to avoid potential security risks. This will be a requirement for all takeovers, regardless of the size of the company or the deal. It will involve the acquisition of assets, intellectual property or shares in a company.
Breaching these rules will be classified as a criminal offence in future, rather than a civil case as it currently is.
The change in rules is a result of increased investment from nations such as China. Some NATO allies fear that the East Asian country is buying up technology companies that could pose a threat to security, the FT reports.
Ahead of the unveiling, business secretary Greg Clark said:
“These proposals will ensure we have the appropriate safeguards to protect our national security whilst ensuring our economy remains unashamedly pro-business and open to high levels of foreign investment in the future.”
FIFA to announce best in football
Barely a week has passed since France beat Croatia to win the 2018 World Cup. That feat has had Novak Djokovic’s Wimbledon victory to compete with, as well as Francesco Molinari’s victory at The Open. But football will take centre stage again today, as football’s governing body FIFA announce the 2018 nominees for its prestigious Best FIFA Football Awards.
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FIFA will announce the shortlist for four of its awards, including the Best FIFA Men’s Player, Best FIFA Women’s Player, Best FIFA Men’s Coach and Best FIFA Women’s Coach.
The men’s category will undoubtedly dominate the headlines. Lionel Messi and Cristiano Ronaldo, widely regarded as the best in the sport, have held the trophy for over a decade. However, their lacklustre performances at the World Cup could end their run.
The ceremony to crown the winner of each award will be held in London on 24 September.