North Korea drops trash-filled balloons into South Korea

Excellent morning. In these days’s e-newsletter we’re masking:

Thailand’s former PM faces royal insult fees

The looming verdict in Hong Kong’s landmark safety trial

An orange dearth reshaping the OJ trade

Our lead tale, on the other hand, is a unusual one.

South Korea has accused North Korea of sending greater than 150 balloons sporting “filth and garbage” over the international locations’ shared border, as Pyongyang retaliated in opposition to a long-standing leafleting marketing campaign through pro-democracy activists within the South.

The South Korean defense force alerted voters that “suspicious objects” presumed to be from North Korea have been “identified in the front-line areas” overdue on Tuesday night time.

Seoul additionally exempt photographs of immense white balloons sporting luggage, in addition to of garbage from probably the most balloons strewn over a freeway in a western district of the South Korean capital. In step with unverified media reviews in South Korea, one of the crucial luggage contained animal faeces.

FT Seoul correspondent Christian Davies has extra at the ordinary balloon barrage.

Right here’s what else I’m conserving tabs on these days:

Financial knowledge: The USA and Taiwan reduce revised first-quarter GDP figures, era the EU publishes April unemployment knowledge.

Untouched Zealand: Finance minister Nicola Willis pronounces the 2024 Finances.

UK: Parliament might be dissolved forward of the July 4 normal election. Listed here are the 4 an important battlegrounds the place events will vie for victory forward of the vote.

5 extra lead tales

1. Thai government say they plan to indict Thaksin Shinawatra for allegedly insulting the rustic’s monarchy. The costs spotlight the long-standing political rivalries inside of Thailand’s ruling alliance, which is constructed from Thaksin’s Pheu Thai celebration and his former fighters within the conservative military-royalist status quo.

2. PwC China has been refrained from through extra high-profile purchasers within the nation because the accounting company braces for consequences similar to its audit of distressed constituent developer Evergrande. Govern retail lender China Traders Attic and state-owned development workforce China Railway are the fresh to ditch the Bulky 4 company, choosing its rival Deloitte.

3. Unique: Europe has just a fraction of the wind defence features wanted to give protection to its japanese flank, in step with Nato’s personal inner calculations. Russia’s struggle in opposition to Ukraine has underscored the virtue of wind defence, however the alliance’s personal checks disclose the dimensions of the continent’s vulnerabilities.

4. The Singapore Airways gliding that encountered hideous turbulence latter year dropped 178ft in below 5 seconds with passengers experiencing speedy adjustments in g-force, in step with a initial investigation. The file discovered that those abrupt adjustments “likely caused the injuries to the crew and passengers”.

5. An international bond sell-off the day past caused shares to retreat as lukewarm gross sales of US Treasuries weakened investor sentiment and traders frightened anew concerning the affect of rates of interest too much upper for longer. Tepid call for for an public sale of $44bn in pristine seven-year Treasury notes marked the 3rd susceptible US executive bond sale in two days.

Information in-depth

A Hong Kong courtroom is ready in order a long-awaited verdict this year within the area’s largest nationwide safety trial to while, as Beijing wields sweeping law to take away 47 of the town’s maximum well-known political opposition figures from society year. If convicted, the defendants who’ve no longer pleaded in charge may just face year imprisonment. Month Beijing hopes Hong Kong returns to “business as usual” upcoming the trial, some consider the town’s recognition will proceed to be overshadowed through its nationwide safety push.

We’re additionally studying . . . 

Eu a long way proper: Rightwing populist events are making inroads with younger Europeans in a pattern that may loom immense over upcoming year’s Eu parliament elections.

Taiwan parliament’s energy grasp: The opposition-dominated legislature’s progress to expand its authority stokes partisan categories, which may well be exploited through China, our editorial board writes.

Non-public fairness: Worker proportion schemes may just support a sector being squeezed through upper rates of interest and a slow listings marketplace, writes Brooke Masters.

Chart of the occasion

Orange juice costs have soared to file highs, pushed through evil climate and condition in Brazil, the arena’s biggest exporter. The orange dearth has caused a seek for choices, together with in Japan, the place one retail gigantic has became to the rustic’s home provide of mandarins.

Remove a crack from the scoop

Nicolas Berggruen, as soon as referred to as “the homeless billionaire”, is hanging ailing roots in Venice. Along with his acquire of the Palazzo Malipiero latter 12 months, the German-American investor and philanthropist is rising as a modern day Medici, writes James Reginato. It’s all a part of his plan to modify the arena with obese concepts.

Backup contributions from Tee Zhuo and Gordon Smith