Vanessa Kortekaas has Tuesday’s top stories from around the world: Donald Trump calls for military spending boost, Samsung heir to be indicted in South Korea and SpaceX plans the first private trip around the moon.
Welcome to FirstFT. Here are hear today's top stories. Donald Trump is calling for a $54 billion increase in US military spending, which would be the biggest jump since 2008. Officials said the 10% rise would be offset by cuts in non-defense budgets, but it is unclear whether Congress would approve such a large increase. Samsung's de facto leader, Lee Jae-yong, is set to be indicted for bribery, embezzlement, and perjury in connection with a sprawling corruption scandal in South Korea. The country's largest conglomerate is set to announce governance reforms after four other Samsung executives were indicted on similar charges.
And SpaceX, the rocket company belonging to Elon Musk, has said it plans to fly to private individuals around the moon before the end of 2018. If successful, it will be the first trip by private astronauts out of the Earth's orbit. But analysts say the deadline may be too ambitious as the company has yet to carry out test flights of the rocket or the capsule that would be used for the trip. For more of today's top stories, go to FT.com/firstFT.