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GLOBAL RISK

North Korea missiles: Trump warns 'all options' on table US President Donald Trump has said North Korea's latest missile launch signals "contempt" for its neighbours and the UN. -BBC

China must 'pressure' North Korea over weapons tests – May -BBC

Reports of Cash's Death Are Greatly Exaggerated Individuals see paper currency as a store of value and hedge against another financial crisis -Bloomberg

EUROPE RISK

SO MUCH FOR GENTLEMEN Cs >> Juncker grades UK’s Brexit papers an F Speaking to top EU diplomats, the Commission president insists divorce must be settled before discussion of future relationship. -Politico.eu

Where German electoral contenders stand on Europe All mainstream parties run on pro-European tickets but disagree on the details. -Politico.eu

France’s Macron unveils foreign policy priorities in speech to ambassadors -France24

EU to UK: Don’t use Northern Ireland as bargaining chip in Brexit talks The EU objects to what it sees as UK attempts to link Northern Ireland issue to negotiations on future trade. -Politico.eu

Britain Must Accept the Hard Truth About Brexit The interim deal it desperately needs is one it won't like. -Bloomberg View

Scorned by Europe, Greece embraces China’s patronage, but at what price? While Europe was busy squeezing Greece, the Chinese swooped in with bucket-loads of investments that have begun to pay off. -NYT

RUSSIA RISK

GO WEST LITTLE GREEN MEN >> Putin's weird war gets ever riskier September will be a nervous month in Eastern Europe. On September 14, Russia will unleash what may be its largest military exercise since the Cold War. In Poland, Ukraine, Lithuania, Latvia, Estonia and elsewhere, officials are openly concerned that the “Zapad (‘West’) 2017” drills near their borders will be used as cover for a military attack. -Reuters

Putin's Budapest Bargain Is Built on Shaky Ground (Op-ed) It may look like Moscow’s ties with Budapest are strong. But looks can be deceiving -The Moscow Times

MIDDLE EAST RISK

Iran rejects U.S. demand for U.N. visit to military sites -Reuters

Iran Building Weapons Factories in Lebanon and Syria, Israel Says Israel is using a visit this week by the United Nations Secretary-General, Antonio Guterres, to highlight concerns about what it says are Iran’s efforts to produce advanced, precision weapons in Lebanon and Syria. -NYT

UN chief Antonio Guterres: 'No plan B to the two-state solution' On his first visit to the West Bank as UN Secretary General, Antonio Guterres spoke out against Israeli settlement building. He underscored his push for a two-state solution to the Israeli-Palestinian conflict. -DW

Jordan border crossing with Iraq to reopen in major boost to ties Jordan will open its main border crossing with Iraq on Wednesday for the first time since 2015 now that Iraqi forces have gained control of the main highway to Baghdad from Islamic State militants, officials said on Tuesday. -Reuters

AFRICA RISK

EU, African states map (blurry) approach to migration crisis Leaders call for greater efforts but stop short of radical new measures. -Politico.eu

Angola's ruling MPLA party leads general election with 65% of the vote -France24

Qatar-Gulf crisis spreads to Africa The Qatar-Gulf crisis is now affecting Africa after Saudi Arabia called on a number of countries, including Somalia, to join its boycott of Qatar. However, not every country is prepared to obey orders from Riyadh. -DW

EMEA || GLOBAL MARKETS IMPACT + OPPORTUNITY

GLOBAL BUSINESS

We don’t want a Balkanized Internet, says brexiting UK -Tech Crunch

Europe’s next competition clash: Online data Monopoly watchdogs appear to want to treat tech giants like state-owned water or energy utilities, which could be legally fraught. -Politico.eu

Europe’s antitrust watchdogs and the world’s tech giants are about to join battle once more — this time, over how the likes of Google, Facebook and Amazon harvest and sell European consumers’ data when they search, shop and socialize online.

Alphabet's Google acts to comply with EU antitrust order -Reuters

Germania questions state loan for troubled Air Berlin Privately owned carrier Germania has announced it's not willing to accept a state loan that the German government has promised to grant insolvent rival Air Berlin. It took legal action to stop the credit. -DW

BUBBLE WITH CHEESE >> Burger King launches WhopperCoin crypto-cash in Russia -BBC

GLOBAL MACRO

Risk-Off Trades Shake Draghi's Policy Tightrope In two speeches last week, European Central Bank President Mario Draghi was careful not to mention how and when his institution will reduce its quantitative easing program. His reticence on this key policy issue hasn't stopped spreads on peripheral bonds climbing in the past month. -Bloomberg Gadfly

Euro rises to 18-month high against dollar The euro has hit $1.20 for the first time since January 2015 as the prospect of a US interest rate rise recedes. -BBC

What’s Next For Libya As Oil Production Slips Libya’s largest oilfield, Sharara, has not pumped new oil for a week as of Sunday, according to news emerging from the area. -OilPrice.com