Sign up to receive FirstFT by email here
Test your knowledge with the week in news quiz.
At least 84 people were killed in the French Riviera city of Nice late on Thursday when a truck driver ploughed into a large crowd watching fireworks on France’s national holiday.
Witnesses said the driver deliberately mowed people down along the seafront Promenade des Anglais. He was later shot dead by police. The Mayor of Nice said the truck was loaded with firearms and grenades.
Earlier this month, a French parliamentary committee called for an overhaul of security in France and called for the creation of an anti-terror agency. In an address to the nation on Friday, President François Hollande said that all of France was “under the threat of Islamist terrorism”. He extended for three months the state of emergency that was imposed after November’s Isis-inspired attacks on Paris. (FT, The Local)
In the news
May heads north On her second full day in office, UK prime minister Theresa May is heading to Edinburgh to highlight her commitment to Scotland remaining inside the United Kingdom. Scots voted overwhelmingly to remain in the EU and in the wake of the vote, First Minister Nicola Sturgeon hinted that she might hold a second independence referendum. (Guardian)
Rates on hold The Bank of England held benchmark rates as it waits for more evidence of the negative impact of Brexit, despite noting the likelihood of a “significantly lower path for growth”. One man who agrees about that lower path: BlackRock’s Larry Fink, who warned that the UK’s decision to leave Europe will trigger a recession in the British economy, trimming two points off GDP. (FT) Read our new daily Brexit Briefing, or forward to other FT subscribers who can sign up to receive it daily by email here.
Investors Line up Line, the Japanese rival to WhatsApp, surged on its debut in New York and Tokyo amid a dearth of technology listings this year and hopes for explosive growth. (FT)
EU builds case against Google The search group’s regulatory woes in Europe deepened on Thursday when Brussels stepped up its antitrust case against the US tech group. (FT)
Brexit uncertainty dents Asian growth forecasts Economists are trimming their growth forecasts for several Asian countries for 2016 and beyond, with the UK’s vote to leave the EU clouding global prospects, a new survey shows. (NAR)
It’s a big day for
China The economy grew 6.7 per cent in the second quarter, unchanged from the previous three-month period, as a buoyant property market and government spending on infrastructure softened the blow from a slowdown in manufacturing. (FT)
Keep up with the important business, economic and political stories in the coming days with the FT’s week ahead
Food for thought
Fear and loathing in the GOP Ed Luce takes a look at the deep sense of foreboding accompanying next week’s Republican convention and coronation of Donald Trump. (FT)
Ginsburg‘s remorse The spectre of a Trump presidency has pushed outspoken Supreme Court judge Ruth Bader Ginsberg over the edge, prompting her to tell an interviewer that she “couldn’t imagine” what the US would be with Mr Trump in office. But her candour put her at odds with the judicial code of ethics, which calls on judges to avoid public opposition or endorsement of political candidates. She has now expressed regret for her criticism. (Economist, NYT) Keep track of the 2016 race — and all of the action next week — with our daily US politics email. Sign up here.
How the CIA hoodwinked Hollywood The intelligence agency’s efforts to mould public opinion are more vast and varied than ever before. And one of its foremost assets? Tinseltown. (The Atlantic)
Putting Pokémon on the map John Hanke, the man behind Google Earth and Pokémon Go, tells the FT’s Tim Bradshaw how he went from a state department posting in Myanmar to running what analysts say could be the biggest mobile game in US history. (FT)
Manifest destiny in the swamps of Siberia With a close eye on the sizeable population in neighbouring Manchuria, Russia is offering would-be pioneers free land across its sparsely populated Far East. However, the inclement weather, complex bureaucracy and sad history of the region are making it a hard sell for all but the most ardent patriots. (NYT)
An easy way to influence people It’s simple: watch what your associates are eating. Researchers have found that when people see each other eat the same thing, it makes them more willing to trust their co-eaters with money and quicker to negotiate an agreement. (WSJ)
Video of the day
Bank of England rate hold explained The Bank of England has held interest rates despite concerns it has raised about the impact of Brexit on the UK economy. The FT’s Chris Giles says we should expect “fireworks” at the central bank’s next rate-setting decision in August. (FT)