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Nikki Haley’s out. The US ambassador to the UN became the third senior member of Donald Trump’s national security team to resign in the past seven months. Unlike others who have left before her, such as former secretary of state Rex Tillerson, Ms Haley had enjoyed a close rapport with the president. 

The FT’s Edward Luce says her departure leaves just one man standing in the so-called axis-of-adults Mr Trump originally appointed. 

Here’s who could replace her when she leaves. Yes, Mr Trump did flag his daughter Ivanka Trump as being more than capable. (FT, Atlantic, CNN)

In the news

Dispatch from Bali
US Treasury secretary Steven Mnuchin has fired another salvo in the country’s economic war with China, warning Beijing in an FT interview not to engage in competitive devaluations of the renminbi. He was speaking ahead of the IMF-World Bank meetings in Bali, where the Fund has introduced a new way to measure countries’ balance sheets. The approach looks at net worth as a measure of fiscal health, and puts Japan’s net worth above Germany’s. (FT)

The Bank of England has warned up to £41tn of derivatives contracts that will mature after Brexit are at risk. Confused about what that means? Here’s our explainer. On a more positive note, the EU and the UK seem to be edging closer to a deal on Brexit. It might help that a number of UK opposition MPs are considering voting for Theresa May’s plan. (FT, WSJ)

Dangerous times for journalists
International calls to explain the disappearance of a Saudi journalist in Turkey are mounting. Riyadh has allowed Turkish authorities to search the Saudi consulate in Istanbul as part of the investigation into Jamal Khashoggi’s disappearance. For more, here is the mysterious incident explained. Journalists face growing threats, intimidation and violence, in Europe and around the world. A summary of 2018 shows how. (WaPo, Vox, Independent)

Suicide is not painless
On World Mental Health Day, Lady Gaga has co-authored an opinion piece on what needs to be done to reduce the 800,000 suicides every year. In the UK, the prime minister has appointed a minister for suicide prevention as the government hosts the first ever global mental health summit. (Guardian, BBC)

The Swift effect
According to Vote.org, there was a significant increase in voter registration in the US after singer Taylor Swift waded into politics. The site received 65,000 registrations in a single 24-hour period after she endorsed the Democrats in an Instagram post. By comparison, 56,669 new voters were registered via Vote.org nationwide in August. Below is Banx on news of the celebrity’s political plea. (CNN, FT)

Burger King’s African expansion
Burger King is in talks to open restaurants in sub-Saharan African countries, including Nigeria, as the US fast-food group accelerates its international expansion in order to compete better with rival McDonald’s. (FT)

ExxonMobil gives $1m to carbon tax campaign
The company has become the first large oil group to support a US campaign to introduce a relatively high carbon tax in place of existing regulations on greenhouse gas emissions. The chart below shows why US action is seen as necessary. (FT)

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The day ahead

Hurricane Michael hits the US
Alabama, Florida and Georgia have declared states of emergency in all or parts of the states as the storm prepares to make landfall in the US today. (BBC)

Let’s talk about space, baby
The heads of Nasa and Roscosmos, its Russian counterpart, meet to discuss boosting their (strained) co-operation. One matter likely to be discussed was a hole found in August in one of Russia’s spacecraft carrying personnel from both countries. Both sides have accused the other of sabotage. (Foreign Brief)

What we’re reading

Avoiding a repeat is the big lesson of the financial crisis
What can we learn from the 2008 crisis and the resulting recession? In studying the lasting damage, Martin Wolf offers up three remaining tasks and a final lesson. (FT)

The Guggenheim game
A must-read on how Alan Schwartz, the last chief executive of Bear Stearns, turned the small broker-dealer arm of Guggenheim Partners, a Chicago money manager, into one of the biggest investment banks by offering huge bonuses to the best rainmakers. (FT)

Britain’s new puritans
Underage drinking has dropped sharply in Europe, especially in Britain. Despite a lot of surveys about the trend, nobody is quite sure why. (NYT)

Europe’s extreme-right terror scene
Populism and xenophobia are fuelling a Europe-wide expansion of rightwing terror, as seen in the German town of Chemnitz this summer. “Every now and then there’s been an individual motivated by that rhetoric who has committed a terrorist act but we’ve not had an organised rightwing threat like we do now,” one expert said. (FT)

Something’s in the scent
Wildlife authorities in India trying to catch a tiger thought to have killed at least nine people say they are considering the use of an unconventional weapon: Calvin Klein’s Obsession cologne. (NYT)

FirstFT readers: Do you feel addicted to social media or your smartphone? Have you ever been reprimanded at work or even fired for excessive use? The FT is looking to interview people for an upcoming Health at Work special report. Email jbl@ft.com to anonymously tell your story. 

Video of the day

Philippine city rebuilds after battle against Islamist insurgency
One year after insurgents loyal to Isis took over Marawi, on the southern island of Mindanao, residents fear a Chinese-led reconstruction project could turn into a “debt trap”. (FT)

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