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Photo: Carl Court/Getty Images

U.S. and North Korean officials disagreed with each other on whether denuclearization talks broke down on Saturday, Bloomberg reports.

The big picture: These talks were a hopeful precursor to another summit with Trump and Kim Jong-un, after February's meeting in Hanoi left the leaders empty-handed and back to square one at the negotiating table. This week, North Korea fired at least 1 suspected submarine-launched ballistic missile for the first time since 2016.

What they're saying: The U.S., through a State Department spokesperson, says it plans to return to Stockholm in 2 weeks to continue what it frames as productive denuclearization talks — but North Korea is suggesting the talks "broke down."

  • “The negotiation did not live up to our expectations and broke down. I am very displeased,” North Korean nuclear envoy Kim Myong Gil said, according to South Korea's Yonhap News Agency.
  • "The early comments from the DPRK delegation do not reflect the content or the spirit of today's 8 1/2 hour discussion. The U.S. brought creative ideas and had good discussions with its DPRK counterparts," State Department spokesperson Morgan Ortagus said a few hours after North Korea's statement.

Where it stands: The State Department claims it previewed "a number of new initiatives" that would allow the U.S. to "make progress in each of the four pillars of the Singapore joint statement."

  • The language in the four-point document brokered between the two countries in Singapore last year is vague on the process of denuclearization, as North Korea wanted it to be.

Go deeper: The 4 pillars of Trump and Kim’s “historic” document

Go deeper

Dan Primack, author of Pro Rata
16 mins ago - World

Merkel's departure could bring influx of private investment

Christian Democratic Union (CDU) party chairman and candidate for the federal elections, Armin Laschet, in front of German Chancellor Angela Merkel in Berlin on Sept. 26. Photo: Clemens Bilan - Pool/Getty Images

Angela Merkel's departure from German government may result in a massive influx of private investment.

Driving the news: The center-left Social Democratic Party, led by chancellor candidate Olaf Scholz, clinched a narrow victory in Germany's federal elections. It now will seek to form a coalition government by year-end with the Greens and the Free Democrats.

Instagram pauses development of platform for kids

Photo: Lorenzo Di Cola/NurPhoto via Getty Images

Instagram announced Monday that it is pausing its plans to develop a version of its platform for children under 13.

Why it matters: Facebook has received backlash since the Wall Street Journal published a report that showed the company knew its Instagram app is harmful for teenagers.

Stock buybacks boom as corporate cash piles grow

The Delta variant is keeping more companies cautious about how to invest the mountains of cash they have at their disposal. That hesitancy has led, in part, to corporate spending on stock buybacks outpacing capital expenditures this year. 

Why it matters: Companies hoarded cash and raised prices over the past year — leaving them with a lot of money and decisions about what to do with it.