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Hillary Clinton and Bernie Sanders clashed on trade, jobs and the 2008 bailout of the car industry as the Democratic candidates woo voters in the US rust belt ahead of a string of delegate-heavy primaries in the region.
Mr Sanders beat Mrs Clinton in the Maine caucuses, the latest contest in the battle to be the Democratic presidential candidate. In the Republican race, Marco Rubio easily won Puerto Rico's primary, beating billionaire Donald Trump. (FT, BBC)
In the news
Negative interest rate warning The longer central banks in Europe and Japan venture into unconventional monetary policy, the greater the risk it will backfire, warns the Bank for International Settlements. “The viability of banks’ business model as financial intermediaries may be brought into question,” they said. (FT)
Iran sentences tycoon Iranian billionaire Babak Zanjani has been sentenced to death for corruption. He was arrested in December 2013 after accusations that he withheld billions in oil revenue channelled through his companies. He denies the allegations. (BBC)
China-related bankruptcies rise in Japan Turmoil in the Chinese economy is rippling towards Japan and the rest of the world, triggering a wave of bankruptcies among companies dependent on the Asian giant. Between April 2015 and February 2016, Japan saw 80 such bankruptcies, with liabilities totalling more than Y230bn ($2bn). (NAR)
Uber in sexual assault controversy BuzzFeed News has leaked internal data on complaints lodged via Uber’s customer service system. In one, screenshot “sexual assault” returns 6,160 Uber customer support tickets, while “rape” returns 5,827 tickets. The company says only five reports of rape and no more than 170 claims of sexual assault from the leaked data were valid allegations. Even if Uber's numbers are taken at face value, it's a significant number. However, it is difficult to put the figures in perspective, as data for traditional taxi companies is not well-recorded.(BuzzFeed, The Verge)
Nancy Reagan dies The former first lady was a devoted and fierce protector of her husband Ronald and his legacy. She died at age 94. (FT)
It’s a big day for
EU refugee policy Brussels will propose centralising control of asylum claims in the EU as part of a radical overhaul of refugee policy in response to Europe’s biggest migration crisis since the second world war. A crucial deal between the EU and Turkey to send all non-Syrian migrants back to Turkey from Greece, expected to be finalised at today's talks, is likely to be illegal, the UN’s refugee agency and other refugee groups have warned. (FT)
Korea tensions The US and South Korea are carrying out their largest ever military drills. Approximately 17,000 US forces are participating in the annual exercises, alongside about 300,000 South Korean troops. North Korea has threatened "indiscriminate" nuclear strikes on the US and South Korea in retaliation. Such rhetoric is not uncommon, and experts doubt the North's ability to put nuclear warheads on its missiles. (BBC)
Food for thought
Race and the US election Martin Luther King said that Sunday morning church was the most segregated hour in America. Nowadays it is the polling booths, writes Edward Luce. Black voting in the south is an almost exact mirror of that of whites, who vote Republican by similar margins. Though a minority of Mr Trump’s supporters are racist, and he may simply be posturing out of expediency, the dangers are very real. (FT)
Goldman’s hopeless memo Lucy Kellaway says a motivational email from a Goldman executive, however well intentioned, is likely to fail miserably. “It’s biggest problem is that it fails to heed the most important lesson of all . . . there is an inverse relationship between how many people an email is addressed to and its power to motivate.” (FT)
Food worth going to prison for InGalera, a restaurant in Milan, recently opened to rave reviews and reservations are almost fully booked for this month. But its success may have more to do with the locale than the food: it is located inside a medium-security prison and the waiters and cooks are convicted felons. (NYT)
The Corporate Jet Files An FT analysis of securities filings has found that many companies are still footing the bill for their executives to take personal flights on corporate jets, sometimes accompanied by family and friends. (FT)
Video of the day
Private air travel speed tested Chief executives say they use corporate jets and helicopters to beat gridlock. We put the theory to the test in New York — one of the world's most congested cities. (FT)