4 Things You Need To Know (29/8/17)
Welcome to our daily update, where we summarise the key talking points from the last 24 hours.
The flood situation in Houston, Texas, stemming from Storm Harvey, continues to have disastrous consequences.
Texan officials are reporting that a reservoir is beyond capacity, and nearby communities are under threat. Thousands of people have already been forced to flee their homes.
2. North Korea
North Korea has fired a missile over Japan, with the weapon eventually landing in the Pacific Ocean. A UN emergency meeting is set to take place in regards to the firing, and US President Donald Trump has said “all options” are on the table.
However, Russia and China have backed North Korea’s position that the strike was provoked by US and South Korean military exercises in the region.
3. Boris Johnson
Prime Minister Theresa May has responded to a report in The Times which alleged that UK Foreign Secretary Boris Johnson is viewed as “a joke” by diplomatic officials in the Trump administration and ministers in Europe.
Downing Street has said Mrs May has “full confidence” in Mr Johnson.
4. House price growth
House price growth has slowed to an annual rate of 2.1%, down from 2.9% in July, Nationwide has reported.
The lender believes that demand remains subdued as a result of the squeeze on household budgets. Inflation is currently outperforming wage growth.