Mourning for Boris Nemtsov, China’s rate cut and Greece’s warning

The daily briefing “FirstFT” from the Financial Times.

Tens of thousands of people marched through Moscow yesterday in memory of Boris Nemtsov, the slain liberal politician. In the largest opposition demonstration the city has seen in three years, people marched towards the spot where he was murdered on Friday on his way home from a restaurant near the Kremlin. Marchers held placards saying, “Boris, I’m not afraid” and “They killed you, they are killing freedom”. (FT)

In the news

Markets galvanised by Chinese rate cut The Chinese central bank cut interest rates for the second time in three months in an effort to prop up the slowing economy and stave off the threat of deflation. The decision spurred an equity rally across the Asia-Pacific region. (FT)

Greece warned to hurry up Jeroen Dijsselbloem, Dutch finance minister and the eurozone’s chief negotiator, said emergency funds could be transferred to the Greek government as early as this month so long as it immediately adopts some of the economic reforms demanded by its creditors. In an interview with the FT, he explains how a deal was done to extend the Greek bailout.(FT)

Berkshire Hathaway succession talk Warren Buffett’s golden anniversary letter prompted speculation about who might succeed him as chief executive. There are suggestions that reinsurance chief Ajit Jain or Greg Abel, who runs the utilities division, might be lined up. The Sage of Omaha also lamented how long it took to sell shares in Tesco: “I made a big mistake with this investment by dawdling.” (FT, Bloomberg)

A milestone in Chinese drug development A Hong Kong-based company is moving towards producing the first modern drug developed in China for decades. Hutchison China MediTech, a company backed by Li Ka-shing, will submit its first medicines for regulatory approval next year – a sign of the country’s potential to become a force in the pharmaceuticals industry. (FT)

Airbnb financing The San Francisco company’s latest round of financing could value theroom-sharing service at $20bn or more. It would join the ranks of the most highly valued private US tech companies, including Uber and SpaceX. (Bloomberg)

It’s a big day for

European and US data We’ll get a last look at unemployment and consumer prices in the eurozone before the ECB starts its bond-buying programme. The jobless rate is expected to stay at 11.4 per cent and core inflation is expected to stay near zero. Meanwhile, US personal incomes are expected to have risen in January. (NYT$)

Mobile devices The Mobile World Congress opens today in Barcelona. Samsung has unveiled two versions of its Galaxy S6 phone, which it hopes will help claw back some sales from Apple. Huawei is also taking on Apple with its new luxury smart watch. (FT, Bloomberg)

Food for thought

Down with the thirdpartybrag Stop retweeting praise about yourself, says Lucy Kellaway. Stroking egos is not what the internet is for – that’s your mother’s job. And Twitter is not your mother. (FT)

End the madness of King George III The FT says the UK’s non-domicile regime should be scrapped. “More than two centuries after the introduction of income tax by Mr Pitt, his successors should end the egregious situation where the wealthiest enjoy the privileges of UK residency without paying their fair dues to the exchequer.”

Homelessness in SimCity When Electronic Arts introduced homelessness as a feature of its game, the way that players treated the issue reflected how real-life governments try to deal with homeless people – and not in a good way. “Some of the problems with the way that many people approach the homeless is that they are dehumanised… they become a problem to be solved like traffic or potholes.” (The Kernel)

Mad men and behavioural economics Rory Sutherland, the vice-chairman of PR companyOgilvy and Mather, talks about how behavioural research can be employed to stop people from cancelling their newspaper subscriptions and to get them to buy that plane ticket. (Freakonomics podcast)

Under the Dome A documentary about air pollution in China released over the weekend has inspired unusually passionate public discussion. The new minister of environmental protection, Chen Jining, has compared it to Silent Spring , a documentary that created an uproar over the use of pesticides. (NYT$)

The most hated rally in history Good news in the stock market has typically meant good times for banks but this hot streak has come during another disappointing bonus season for investment banks. The mood reflects larger changes that have kept big banks from enjoying the benefits of a strong equity market. (FT)

Video of the day

The rosewood carve-up The FT’s Michael Peel follows the escalating war between rangers in the parks of Thailand and poachers who come to steal the giant rosewood trees growing there. The illegal logging and a booming luxury timber market is devastating Mekong habitats.

This article is published in collaboration with The Financial Times. Publication does not imply endorsement of views by the World Economic Forum.

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Author: FirstFT is the Financial Times’ editors curated free daily email of the top global stories from the FT and the best of the rest of the web.

Image: Construction cranes are seen behind the St. Basil’s Cathedral and the Kremlin walls in the capital Moscow. REUTERS/Maxim Zmeyev.