G7 leaders say Brexit poses ‘serious risk’ to global growth - FT.com

G7 leaders say Brexit poses ‘serious risk’ to global growth

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Obama to Visit Hiroshima With Disarmament Goals in Doubt

Nearly 71 years after U.S. forces dropped a devastating nuclear bomb on Hiroshima, President Barack Obama is set to be the first American leader to set foot on the soil where so many people died.

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Bloomberg TV on Twitter

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CNNMoney on Twitter

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World without Nehru

WHEN a great man dies in office, there is often a tendency to measure his greatness by the scale of the ensuing alarm and uncertainty. This is a fallacious measure. Indeed, it is a mark of weakness, not of strength, if a national leader fails to bequeath a smoothly working structure of leadership to a clearly designated successor. Mr Nehru failed to do this. If he had succeeded in doing it, both India and the world could have received the news of his death with a calmer grief; and his greatness would have been not diminished but enhanced. As it is, the hasty induction of Mr Gulzarilal Nanda, the home minister, as head of a caretaker government, was taken as signifying the beginning, not the outcome, of the battle of the succession.

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A farewell to Kurt Wallander (probably)

When Mankell wrote the first Wallander novel—“Faceless Killers”, in 1991—he had already achieved success as a playwright and author. He decided that “a detective was the right instrument to write about society. Crime holds up a mirror to the contradictions in society, between human beings, and inside human beings.” In crime fiction, readers experience the worst of what is going on in the world from the comfort of an arm chair. “The world is a horrible place, it’s as simple as that,” said Mankell.  Human trafficking, rape and murder are just some of the subjects that Mankell investigates through his character. An individual who struggles with his emotions doing a job that does not encourage you to to express them, detective work takes its toll on Wallander. Krister Henriksson, who played him in the second Swedish series, says that “he has trouble relaxing, so he takes the quickest route, a drink.” He is divorced, at one point resigns from his job, suffers depression, and is estranged from his daughter Linda. Kenneth Branagh, who plays him in the British series, has said that “Wallander has an open wound…he seems to feel everything, he bruises very easily”.

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Already indicted

Yet if it may be possible to take a tolerant view of how this started, there is no excusing the mess Mrs Clinton has made of it. A more agile politician would immediately have recognised the scandal’s potential to exacerbate the poor trust ratings that are her biggest weakness. She would then have taken urgent measures to confess her carelessness, express remorse and make a fulsome display of handing over whatever materials the investigators required. Instead Mrs Clinton obfuscated, denied and watched the scandal grow. The most significant indictment to arise from it may well concern her skills as a politician. But with the latest polls giving Mr Trump a narrow lead, that is not at all reassuring.

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Oil Prices Poised to Hit Sweet Spot for Global Economy

The most powerful oil rally in seven years pushed crude prices above $50 a barrel on Thursday, a level that eases pressure on producers while being low enough to keep consumers happy at the gas pump.

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‘Hot money’ flows into Argentine peso spook President Macri - FT.com

‘Hot money’ flows into Argentine peso spook President Macri

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Clinton Took to State Department Hallways to Check BlackBerry

“The crux of the issue was that BlackBerrys and iPhones are not allowed in the secretary’s office suite, so the question was: How is the secretary going to be able to check her e-mails if she’s not able to have the BlackBerry at her desk with her?” the official, Lewis Lukens, said in a deposition released Thursday by the conservative government transparency group Judicial Watch.

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Silicon Valley faces fear and loathing in Europe - FT.com

Silicon Valley faces fear and loathing in Europe

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Stocks Near Three-Week High Amid Yellen Countdown as Oil Falls

Global equities held near a three-week high and the dollar rose versus most peers before a speech by the head of the Federal Reserve. Oil fell toward $49 a barrel and gold snapped a seven-day losing streak.

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The next 100 years in the Middle East are likely to be worse than the last 100 years

The unpleasant reality is that today’s Middle East is what it is because its people and leaders have done such a bad job in shaping it. Sykes and Picot cannot be blamed for the region’s pervasive lack of tolerance and political freedom, poor schools, or the unfair ways in which girls and women are treated. Other parts of the world (including those without enormous reserves of oil and gas) have emerged from colonialism in much better shape.

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CNNMoney on Twitter

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France Girds for Security Challenges at Euro 2016 Soccer Championship

PARIS—When soccer fans set off smoke bombs and firecrackers at the Stade de France last Saturday, the explosions did more than add to the drama of a French cup final between bitter rivals. They exposed gaps in France’s efforts to tighten security just two weeks before hosting Euro 2016, the continent’s largest sporting event.

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Bloomberg on Twitter

What a difference a month makes - gold has fallen more than 6% in May http://bloom.bg/25oWtzk  pic.twitter.com/sGcXmmvR8M

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Facing history: Obama in Hiroshima

America’s president has made little progress toward the goal he set in 2009 of a world free of nuclear weapons. But that will not diminish his welcome in Hiroshima today, as the first sitting president to visit since America dropped an atom bomb on the city in August 1945. Mr Obama will not apologise for it, or for the bombing of Nagasaki three days later. For most survivors, who are dedicated to eradicating nuclear weapons, his presence is enough. But the visit will spark controversy in America, where questioning the use of the atomic bomb is still a political taboo. Speaking near the ruined Genbaku Dome memorial, Mr Obama must strike a careful balance: between empathy for the victims, his own aspirations for a nuke-free world, and an acknowledgement that the bombings helped curtail the Asia-Pacific war’s mass slaughter. Next up: will Japan’s prime minister, Shinzo Abe, visit Pearl Harbor?

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Universal basic income: Money for nothing - FT.com

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Oil’s Brief $50 Breach Doesn’t Mean Much Unless It Sticks Around

West Texas Intermediate for July delivery touched as high as $50.21 Thursday before settling at $49.48 a barrel on the New York Mercantile Exchange. Brent for July settlement closed at $49.59 on the London-based ICE Futures Europe after earlier touching as high as $50.51. The global benchmark sank to the lowest since 2003 in the first quarter and has since surged about 80 percent on signs the world’s oversupply will ease.

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One in three ATMs in India doesn’t work

"Incidentally our teams have recently undertaken a survey of almost 4000 automated teller machines (ATMs) across the country with sample size fairly representing geographies and bank categories. Almost one-third of the ATMs were found to be not working at that point," RBI's deputy governor S S Mundra said at a banking event in Mumbai.

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Whether Trump or Clinton, Anxiety Creeps Into U.S. Stock Outlook

While it’s almost impossible to ascribe changes in options prices to a single catalyst, strategists see increasing evidence the presidential race is having an impact. As Democrat Hillary Clinton and Republican Donald Trump look like they are headed to a showdown, it will only get more expensive for investors to protect their portfolios from damaging swings that can come without warning as the campaign rhetoric heats up.

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The Economist on Twitter

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Will 'X-Men: Apocalypse' suffer from superhero fatigue?

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer . Morningstar: © 2016 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2016. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2016 and/or its affiliates.

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Financial Times on Twitter

Brexit 'Plan B', the new wave of UK nanobreweries and more. Sign up for #FirstFT here: http://on.ft.com/1TG4x9B  pic.twitter.com/aoFznUjjzL

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The boy who escaped Trump country - FT.com

‘The Donald’ received his highest share of the vote in Buchanan County, a place of shuttered mines and collapsing property prices. Edward Luce meets some of Trump’s most passionate supporters — and a 22-year-old swimming against the tide

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Activist William Ackman, Valeant Investor, Tries Life as an Inside Man

Valeant Pharmaceuticals International Inc. Chief Executive Michael Pearson was wrestling with a lot of problems in mid-March, but activist investor William Ackman wasn’t one of them. The two men had remained allies even after the drug company’s slumping stock had dropped 51% on a single day, March 15. Mr. Ackman, a big Valeant investor, demanded to talk with the company’s directors. He insisted bankruptcy was a possibility and...

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Battle Inside OPEC Eases as Saudi Oil Strategy Finally Pays Off

Saudi Arabia has been fighting with fellow OPEC members since the oil rout started two years ago. For the first time next week, it can argue convincingly that its strategy of squeezing rival producers is succeeding.

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Scientists say men with one intriguing characteristic are more attractive to women

View photo.(Strelka Institute for Media, Architecture and Design/Flickr) Men who can spin a yarn are seen by women as more attractive and of higher status. Take a look at a bunch of women's OkCupid profiles and you'll be hard pressed to find one that says, "I'm looking for a guy who makes me laugh, loves trying new foods, and — oh! knows how to spin a mean yarn."

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London First-Time Homebuyers Need Record Deposit Savings: Chart

Want to buy your first home in London? Better get saving. A debut homebuyer needs to have a record 131 percent of their annual income for a down payment because property prices are so high, according to an analysis of Council of Mortgage Lenders data by Savills Plc.

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The Economist on Twitter

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Japan Fails in Bid to Have G-7 Warn of Global Crisis Risk

Japanese Prime Minister Shinzo Abe failed in his bid to have Group of Seven leaders warn of the risk of a global economic crisis in a communique issued as their summit wraps up Friday in central Japan.

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Apple stock could be due for ‘long grind sideways’

Barrow doesn’t recommend people short Apple’s stock because the company’s strong cash position—it had more than $230 billion in cash, cash equivalents and marketable securities at the end of last quarter—give it a fair valuation. But he views Apple as a “lumbering sleepy giant that churns and grinds sideways for years and years,” akin to Microsoft Corp. MSFT, -0.44%   in the years following the bursting of the dot-com bubble.

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U.K. Vote on Europe Poses Dilemma for Scotland

GLASGOW—Peter Fleming, an electrical-engineering student here, said he backs Scottish independence but intends to vote next month for the U.K. to stay in the European Union, even though an exit could spark a renewed clamor in Scotland for secession.

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Apple contemplates a push into media - FT.com

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China Swaps Troupes for Troops

BEIJING—One military unit in China’s northeast has racked up some notable international victories. They’re just not the kind President Xi Jinping wants as he undertakes the biggest restructuring of the People’s Liberation Army since the 1950s.

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Microsoft, Facebook Build Undersea Cable for Faster Internet

Microsoft Corp. and Facebook Inc. are teaming up to build an undersea cable in the Atlantic Ocean to deliver fast online and cloud services to customers of both companies.

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Security at Euro 2016 Might Need to Check Your Sandwich

France is still in a state of emergency imposed after terrorists killed 130 people in and around the capital Nov. 13, shooting at diners in cafes, attacking a concert hall and detonating bombs at the Stade de France outside Paris during a match between France and Germany. Camouflage-clad soldiers wielding automatic weapons are a common sight around central Paris, its train stations and tourist attractions such as the Eiffel Tower, and the president wields extraordinary powers to uphold law and order.

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Here's who actually owns the stock market

The other startling finding was the growth in foreign investment in the US stock market. What was once a small sliver of the makeup now accounts for a quarter of all stock ownership at $5.5 trillion. Part of this may be due to increasing wealth in foreign countries, but, as the researchers noted, it could also be influenced by corporate inversions, in which foreign-domiciled firms have large direct holdings of US-based stock.

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Facebook Wants to Help Sell Every Ad on the Web

To that end, the social network and online advertising company said Thursday it will now help marketers show ads to all users who visit websites and applications in its Audience Network ad network. Previously Facebook only showed ads to members of its social network when they visited those third-party properties.

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CEO Bonuses: How Pro Forma Results Boost Them

Earnings before the bad stuff can do good things for executive pay. Last year was tough for many companies, so many asked investors to imagine what things would have looked like if the tough things had never happened. This led to the biggest divergence since 2009 between pro forma results, which exclude items such as restructuring charges and stock-based compensation, and results under generally accepted accounting principles, or...

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How much should I give to my church’s collection plate?

I recently joined a church and each week they pass a basket for collection. Some weeks, half of what’s collected goes to a local charitable organization or food drive, and other weeks it’s for the upkeep of the church. The minister says give what you can. On the one hand, I could technically give $100 a week and not go bankrupt. On the other hand, that seems excessive. When I was growing up, people would unload their spare change into the basket and you’d be lucky to see a $5 bill in the basket. At my church, I can’t help but notice quite a few $20 and even $50 bills in the collection plate. How much should I give? Is there an (un)acceptable amount?

43 5 Things to Know About Obama’s Trip to Japan

U.S. President Barack Obama is arriving in Japan on Wednesday to attend the annual summit of the Group of Seven leaders and make a historic visit to Hiroshima. Here are five things to know about the president’s trip.

44 5 Things to Know About China’s Yuan Policy

Nine months ago, China’s central bank announced a surprise policy shift in how it sets the yuan’s value, pledging to make it more market-based. Interviews with officials and minutes from previously undisclosed meetings show how it has abandoned the policy . Here are five things on what the backpedaling means.

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Book-publishing’s naughty secret

The good news for publishers is that romance readers are singularly voracious and loyal. A recent Nielsen study reported that around 15% of the genre’s fans buy new books at least once a week; 6% do so more than once per week. Mills & Boon, the venerable British romance publisher that celebrated its centenary in 2008, capitalises on readers’ appetites by having a monthly subscription service for both e-books and hard copies. In turn, the publisher is highly responsive to changing and niche tastes. Their stable contains over 20 different series, from Historical, Medical and Kimani, which features African-American protagonists, to Blaze—“sizzling sexual adventures”—and Nocturne, for those who like their literary liaisons seasoned with paranormal activity. And although shame is perceived to be a significant factor in the romance genre’s success in e-book format, this could be changing. Last year Bea and Leah Koch opened America’s first romance-only bookstore in Los Angeles using $100,000 they raised from the genre’s fans on Kickstarter. The Ripped Bodice is open for business.