EU leaders in Bratislava, student property magnates and saving capitalism

‘Informal’ crisis summit aims to discuss bloc’s future without the UK

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European leaders are meeting in Bratislava for an ‘informal’ crisis summit to discuss the bloc’s future without the UK. German chancellor Angela Merkel has downplayed expectations, warning that a single meeting will not fix Europe’s ills. French leader François Hollande was more ambitious, saying that there must be a “Bratislava plan” with themes to restore Europeans’ trust in the union.

The meeting comes as calls for a drastic overhaul of EU institutions are growing louder across Europe. There are fears that the growing popularity of populist anti-EU parties is threatening the consensus that has underpinned the European project for decades, with the issue expected to dominate national elections to be held in France, Germany, the Netherlands and Austria in the coming 18 months. (FT)

In the news

Deutsche down Shares in Deutsche Bank fell sharply as Germany’s biggest bank scrambled to downplay the chances of having to pay $14bn to settle allegations from the US Department of Justice of mis-selling mortgage securities.

A tale of two tech companies Apple’s stock is on track for its best week in three years as investors’ concerns about the iPhone 7 launch ease on signs of strong demand for the new handset. Samsung, meanwhile, continues to suffer. The US on Thursday issued a formal recall notice for 1m Samsung Galaxy Note 7 smartphones after nearly a hundred reports in the country of overheating batteries. (FT)

Russia’s beleaguered opposition Russia’s opposition is fighting for survival ahead of parliamentary elections on Sunday. Members of small opposition parties say their campaigns are being sabotaged in the run-up to the vote. Vladimir Putin’s United Russia party is widely expected to widen its control of the 450-seat legislature. (Politico)

Duterte death squad allegations A self-confessed hitman has told a Senate hearing in the Philippines that President Rodrigo Duterte presided over a death squad while serving as mayor of the country’s third-largest city, and personally ordered a number killings. In one incident, Mr Duterte gunned down a justice department official with an Uzi, the witness claimed. (NYT)

Student property magnates An investigation has revealed that nine foreign students own CAD57m worth of property in the Canadian city of Vancouver. Despite having no income, the students were able to secure mortgages to buy the multimillion-dollar properties. Politicians allege that banks do not adequately scrutinise the income of foreign buyers. (Vice)

Test your knowledge with our week in news quiz. How many seats will there be in the UK parliament after the redrawing of England’s parliamentary boundaries?

It’s a big day for

The UK Independence Party The party which championed Brexit is choosing a leader to follow arch-Brexiter Nigel Farage, amid disarray and high-profile defections. (FT) 

Read our daily Brexit Briefing, or forward to other FT subscribers who can sign up to receive it daily by email here.

Food for thought

How to save capitalism from capitalists Philip Stephens on how the cross-border activities of big companies make it harder to map a level playing field. (FT)

Typecast as a terrorist British actor Riz Ahmed on how, as his acting career developed, he was no longer cast as a radical Muslim — except at the airport. (Guardian)

Lessons from death row As superintendent of the Oregon State Penitentiary, Semon Frank Thompson planned and carried out that state’s only two executions in the last half century. He used to support the death penalty. He doesn’t any more. (NYT)

Asian soccer wars England’s premier league teams are in a cut-throat race to win the biggest share of the growing soccer market in Asia. The popularity of the game has skyrocketed in recent years, with Asian countries paying a total of $1.47bn for the rights to show EPL games from 2013 to 2016. (NAR)

How much do parents matter Robert and Sarah LeVine have spent 50 years studying parenting across the globe with a view to answering the ultimate question: do parents matter? For any father or mother, their conclusion is simultaneously reassuring and deflating. (The Atlantic)

Video of the day

The power behind Hinkley Point The approval of the power station injects new energy into the UK’s nuclear sector. The FT’s Giles Wilkes and Alan Livsey explain what is at stake. (FT)

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