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The immediate impact of any trade war between the US and China would be worse for Beijing, according to export data analysed in a new report on multinational companies’ exposure to the Chinese market. And Beijing should not take too much comfort from the departure of China hawk Steve Bannon from the White House — it will only provide temporary relief. (FT)

In the news

Thousands protest in Hong Kong
Huge crowds took the streets to protest the jailing of three young democracy activists, which raised major questions about the independence of the Chinese-ruled city’s judiciary. The three men in their twenties — leaders of the Occupy movement that is pushing for universal suffrage — were jailed for six to eight months for “unlawful assembly”. (Reuters)

War games in Korea
US and South Korean authorities are bracing for fury from North Korea as the allies kick off annual military exercises that have a history of enraging Pyongyang. (WSJ)

Mattis on Trump’s new Afghanistan plan
Donald Trump has been accused of dragging his feet on Afghanistan by lawmakers, but defence secretary Jim Mattis said the US president had settled on a new strategy after a “rigorous” review. Mr Mattis declined to provide details, but said that Mr Trump was expected to announce them in the coming days. The plan is also expected to address ways to pressure Pakistan to shut down sanctuaries for the Taliban and other jihadi groups maintain on its territory. (NYT)

Barcelona terror manhunt continues
Spanish press on Saturday said that there was a growing belief that Moroccan-born Younes Abouyaaqoub, 22, who lived in the town of Ripoll, north of Barcelona, was now the main suspect and the driver of the van in the attack that killed 13 people and injured 130 — he may have crossed into France. An internal police document from Friday, seen by the Financial Times, lists four suspects who were being sought. Mr Abouyaaqoub is the only one who has not been identified as killed or captured. After finding more than 100 tanks of butane gas at a house that exploded, police believe the group behind the attack was planning more attacks with explosives in Barcelona. (FT, Reuters, AP)

The day ahead

Total eclipse of the sun
Americans will turn around with bright eyes on Monday, to see a total eclipse. The 70-mile swathe — stretching from Oregon to South Carolina — that will experience the total eclipse is known as the path of totality, and is expected to draw millions of visitors for the chance to see the corona of the sun for two minutes. Here’s how the eclipse will impact the energy grid and what it means for solar power. Here’s why scientists are so excited. Here’s Nasa’s live stream of the eclipse. (NYT, FT, Vox, Nasa)

Keep up with the important business, economic and political stories in the coming days with the FT’s Week Ahead.

What we’re reading

The rise — and rise — of China’s tech trinity
Baidu, Alibaba and Tencent, collectively known as BAT — along with ecommerce group JD.com, microblogging-turned-livestreaming platform Weibo, and online gaming group NetEase — are riding a wave of Chinese online consumption: shopping, gaming and watching videos on their phones. Here are five charts putting the numbers into context. (FT)

How to get away with murder in India
Ellen Barry stumbles upon the murder of a young bride in rural India in a story about how small-town politics allows the — admitted — killer to go free while revealing much about modern India. (NYT)

Why China is Apple’s biggest hope and greatest headache
The tech giant risks losing traction in the world’s biggest phone market as users shift to domestic players with more aggressive distribution strategies. (FT) 

Carl Icahn’s failed raid on Washington
Was Donald Trump’s richest adviser focused on helping the country — or his own bottom line? A long look at the billionaire investor’s time in Washington. (New Yorker)

RIP Dick Gregory
The pioneering black satirist began as a standup comedian before throwing himself into social activism. He was a major influence not only on generations of standups, but on the Civil Rights movement. He died at age 84. (NYT)

Video of the day

The week ahead
The FT’s Vanessa Kortekaas highlights the key stories to watch in the coming week, including French president Emmanuel Macron marking 100 days in office and touring Europe, ECB president Mario Draghi speaking at the Jackson Hole Economic Symposium and results from advertiser WPP. (FT)

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