The European Central Bank kept rates on hold as expected and downgraded its inflation and growth forecasts, as Mario Draghi adopted a more dovish tone in his press conference.


Europe’s borders under strain
Europe is facing its biggest refugee crisis in decades, with Germany assuming the greatest burden for absorbing the asylum seekers. Gideon Rachman talks to Jeevan Vasagar, FT correspondent in Berlin, and Tony Barber, FT Europe editor, about the political strains caused by the crisis.

By Gideon Rachman
The gigantic military parade that will pass through Beijing on Thursday is meant to be all about the past. But, inevitably, many in the Asia-Pacific region will see it as a disturbing message about the future.

How risky is China’s volatility for the global economy?
The impact of China’s stock market volatility has been felt around the world this week. Martin Sandbu is joined by the FT’s economics editor Chris Giles, and US economics editor Sam Fleming, to discus show risky this is for the health of the global economy.

Conductor and pianist Daniel Barenboim

Not content with threatening to cut off funding for artists she deems disloyal to Israel, Miri Regev, Israel’s far-right culture minister, is apparently seeking to project power onto her country’s preeminent foreign policy issue: the recently signed nuclear deal with Iran. Read more

Ukraine faces battles on two fronts
Rising violence in eastern Ukraine has prompted the leaders of France, Germany and Ukraine to convene an emergency summit to try to halt the fighting; at the same time Kiev’s negotiations with its creditors are reaching a critical point. Ben Hall discusses the twin crises with Neil Buckley and Elaine Moore.

In recent days North and South Korea have resurrected the practice of blasting threats and propaganda at each other across their shared border. But last weekend, amid all the sabre-rattling, one South Korean turned some of his country’s border loudspeakers to a more harmonious use.

Won Hyung-joon, who has been trying to organise a cross-border concert for seven years, deployed them on Saturday at a concert in which Antoine Marguier, conductor of the UN Orchestra, led South Korean instrumentalists through Beethoven’s Ninth Symphony and the Korean folk song ArirangRead more

Marco Rubio

Marco Rubio’s star may be rising and Tony Abbott’s falling among senior News Corp executives, a Sydney speech on Thursday night by chief executive Robert Thomson suggested. Read more

China’s renminbi devaluation
China this week stunned financial markets with the biggest devaluation of the renminbi in two decades, only to intervene to stop the slide. Was it a move towards liberalisation or a desperate bid to halt the country’s economic slowdown? Ben Hall discusses the move and its consequences with James Kynge and Gabriel Wildau.

GOP Presidential Candidates Debate In Myrtle Beach

It was the showdown that has had US political junkies on the edge of their seats for weeks: bombastic billionaire Donald Trump squaring off against nine rivals for the Republican presidential nomination. 

For the first time, at midday today, the Bank of England is publishing simultaneously its decision on interest rates, the minutes of the rate-setting meeting and its quarterly inflation report. Mark Carney, the governor, is holding a press conference 45 minutes later. Key things to look out for include whether the vote on rates was unanimous and the Bank’s inflation prediction.


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Flexibility is a prized trait for leaders in a world of uncertainty, constant change, and unpredictable competition. So it is hardly surprising that leaders should seek the same flexibility from their own staff.

Administering such a system of shorter-term or temporary contractors is ostensibly easy, using shift-management software that matches hours required to hours on offer. The economic advantages look attractive.

But if companies treat temporary workers as factors in an equation rather than as individuals, they will undermine the benefits of a less rigid labour system. It is training that will make the difference between a flexible but durable approach, which is of mutual benefit to employer and employee, and one that eventually disadvantages both company and worker.

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Barack Obama’s climate plan
President Barack Obama this week unveiled America’s most far reaching action so far on climate change by imposing stringent emissions cuts on the power sector. Orla Ryan asks Pilita Clark and Barney Jopson about the significance of the move.

  • Owning a top English football club used to be every tycoon’s dream, but five stalled sales this summer suggest the asset appears to have lost some of its lustre
  • Fears are growing that Ukraine’s Right Sector, the only big volunteer battalion Kiev has not brought under regular army control, could turn its fire on the government itself
  • The desire to avoid a power struggle within the Taliban and the Pakistan military’s push for peace talks in Afghanistan explain the silence around the death of Mullah Omar, writes Ahmed Rashid
  • Ankara is organizing Syrian rebels for an assault on the Islamic State’s last stronghold along the Turkish border and could even use its warplanes to support their advance (Foreign Policy)
  • Rohingya female migrants from Bangladesh and Myanmar seeking to escape turmoil and poverty are often tricked or forced into marriages to pay smugglers for their freedom (New York Times)

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Monitors check-in: The Athens Hilton

During Greece’s first and second bailouts they were known as the “troika”: three bureaucrats in suits endlessly following each other into a Greek government ministry in local television news clips.

Then they began slipping into buildings by a side door, protected by security guards to avoid anti – austerity protesters blocking the main entrance

Then they vanished altogether, banned from visiting Athens by the leftwing Syriza-led government.

Even their name was officially deleted: the troika became the “institutions” after their employers – the European Commission, the International Monetary Fund and the European Central Bank.

Now, after six months of being non – persons in Greece, the bailout monitors are back. Read more

Turkey steps up its battle on terror
Nato allies have welcomed Turkey’s decision to step up its fight against Isis. But its decision to include Kurdish opponents as the target of its attacks is causing some to question Ankara’s true motives. Siona Jenkins discusses Turkey’s strategy with Daniel Dombey and Alex Barker.

Behind Turkey’s volte-face on Isis, President Recep Tayyip Erdogan is fishing for nationalist votes by tarring as terrorists the pro-Kurdish coalition, argues David Gardner

Something is rotten with the eurozone’s hideous restrictions on sovereignty, writes former Greek finance minister Yanis Varoufakis, in response to allegations he planned to hack Greece’s tax system Read more

Few sporting spectacles compare to the Tour de France. Towns and villages along the route, en fete for the race, shut up shop to enjoy le pique nique by the roadside. Ever-greater numbers of foreign fans have joined the party too. Saturday’s stage, finishing atop the famous Alpe d’Huez, showed this in all its crazy glory as Chris Froome was unofficially crowned the race winner with only Sunday’s largely ceremonial ride into Paris to navigate.

Froome is about to triumph over his rivals and 3,360km of road including Europe’s highest mountains, not to mention the sheer mental and physical effort of remaining on top of his game for three weeks. But he will not have succeeded in vanquishing his critics who want more data on his performance to assure themselves he did not dope. Team Sky, who Froome races for, is reluctant. However both sides are missing the real question: what will it take to restore trust in such a drug-tainted sport?

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Once again, it was an agonisingly long piece of Greek parliamentary theatre. But once again, in the early hours of Thursday morning, Alexis Tsipras came out on top.

For the second time in a week, the prime minister survived a mini-rebellion in his radical leftist Syriza party and, with the help of opposition parties, passed a set of reforms required to secure a new, €86bn financial rescue from Greece’s international creditors. Read more