South Korea

Statues of North Korea's founding president Kim Il-sung (L) and his son Kim Jong-il are unveiled during a ceremony in Pyongyang on April 13 (Getty)

North Korea likes to celebrate on a monumental scale and the 100th anniversary of the birth of Kim Il-sung, North Korea’s founder, was supposed to be no different. But the long-range Eunha-3 rocket launched on Friday blew apart about 90 seconds into its flight.

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The euro has fallen to a 16-month low below $1.27 – run, run for your lives! Or recognise that it’s still around the trade-weighted average for the past decade and only slightly weaker in real terms than when it launched, that a weaker currency is just what a stricken economy needs and that there isn’t much sign that the fall is disorderly and hence generally hitting confidence in eurozone assets. (The eurozone authorities are doing that.) Read more