Listen to this article
Sign up to receive FirstFT by email here.
The Syrian city of Aleppo is being subjected to a fifth consecutive day of bombing as an international outcry grows over Russia's role in the conflict. The Syrian Observatory for Human Rights, a UK-based monitoring group, reported that 213 civilians had died in Aleppo since the ceasefire collapsed last week. There have been some reports that napalm was used on rebel-held areas of the city.
The US accused Russia of supporting “barbarism” over the bombing as the west stepped up diplomatic pressure on Moscow at a stormy security council meeting at the United Nations. The ambassadors of the UK, the US and France walked out of the meeting at the UN after charging Moscow with sabotaging a ceasefire agreement. Samantha Power, US ambassador to the UN, said Russian and Syrian forces were “laying waste to what is left of an iconic Middle Eastern city”. (Guardian, Times, FT)
In the news
Alarm over Brexit bluster Leading bankers from the City of London have expressed alarm and consternation at the growing political momentum behind a so-called “hard Brexit” they fear will erode confidence and trigger corporate departures. Meanwhile, Germany is growing increasingly exasperated with Britain’s bravado over Brexit, prompting a rethink over how hard to push London during negotiations on leaving the EU. (FT)
Deutsche share slide Shares in Deutsche Bank dropped to their lowest level in more than 20 years on Monday morning, as Germany’s largest lender slumped to the bottom of Europe’s banking index. The sell-off, which spread to other European banks, came after the German magazine Focus reported that Chancellor Angela Merkel had ruled out providing any state aid for the bank. Ms Merkel’s spokesperson on Monday said there was “no reason for speculation” about possible state aid for the bank. (FT, Reuters)
Goldman Sachs swings the axe in Asia The bank is making cuts as it grapples with a regional slowdown and intensifying pressure to improve returns to shareholders. The move could mean as many as 90 investment bankers across the region will be laid off over the next few months, according to people familiar with the bank’s plans, with the bulk in Hong Kong and Singapore. (FT)
Swiss back new surveillance law Switzerland has voted to adopt a new surveillance law that allows intelligence agencies to tap phones, snoop on email and deploy hidden cameras and bugs. The vote shows how concerned the Swiss have become about a potential militant attack. (BBC)
Modi ratchets up the rhetoric Indian prime minister Narendra Modi has vowed to internationally isolate Pakistan following a deadly attack on an Indian army base in Kashmir this month. Mr Modi addressed the people of Pakistan directly, saying they should ask their leaders why, “when India and Pakistan got freedom in the same year, India exports software and your leaders export terrorists”. (FT)
It's a big day for
Oil The world's biggest producers head to Algiers today for talks on how to end a two-year glut that has seen prices plunge. (FT)
Colombia A peace deal between the Farc guerrillas and the Colombian government will be officially signed before the accord is voted on in a plebiscite. (Reuters)
Hillary Clinton and Donald Trump The two candidates meet for the much-anticipated first presidential debate, with the outcome expected to have a major impact on tightening polls. The Clinton camp is urging the debate moderator to call Mr Trump out on what they say is his serial lying (more on that below). (FT)
Keep up with the important business, economic and political stories in the coming days with the FT’s weekahead.
Number of the day
3mins 15sec The average interval between the 87 falsehoods Mr Trump espoused in the course of five hours of remarks. (Politico)
Food for thought
Japan gaming: levelling up When Prime Minister Shinzo Abe emerged at the Olympics closing ceremony wearing the iconic dungarees and red cap of Super Mario, it was seen as good pantomime. But for the $100bn games industry, there was an unmissable message that Japan is back and ready to take on the world again. The big question is whether ability can match ambition. (FT)
Viking cats The largest genetic study of cats reveals that the Vikings helped felines spread out across Europe. Cats play a prominent role in Norse mythology but it seems they weren’t an object of sentimentality as they are today: by the late Viking age people commonly used their skins as clothing. (ScienceNordic)
The art of defrauding America Ed Luce on how the former reality TV star has turned liberal media values and voter cynicism to his advantage. (FT) Keep track of the 2016 race with our daily US politics newsletter. Sign up here.
Waltzing Australia Since 1994, shifting tectonic plates have moved the continent 1.5 metres northward. That is an annual journey of about 6.9cm, which — by geological standards — is incredibly fast. And the movement poses all kinds of problems for GPS-reliant tech and, in particular, self-driving cars. (Quartz)
From country of fear to land of opportunity A growing number of young Viet Kieu, or overseas Vietnamese, are becoming successful businesspeople in Vietnam — often against the will of their parents, who fled in fear a generation ago. (NAR)
Video of the day
A look at the week ahead Daniel Garrahan previews some of the big stories the FT is watching in the coming days, including Clinton and Trump going head-to-head in their first US presidential debate, UK services sector figures and Opec countries meeting in Algeria. (FT)