Greek deal, chipping in, and urban gardens

The daily briefing “FirstFT” from the Financial Times.

Alexis Tsipras, the Greek prime minister, returned to Athens on Monday facing a rebellion within his own government after he accepted the most intrusive programme ever mounted by the EU as the price for a new EUR86bn bailout to keep Greece in the eurozone. Mr Tsipras looks set to be forced to rely on opposition support to pass a swath of economic reform measures by a Wednesday deadline.

The ruling Syriza party’s extremist Left Platform called it a humiliation of Greece – although the FT’s Gideon Rachman argues it actually marks a capitulation from Germany. The hard-fought agreement has fended off, at least for now, Greece’s exit from the single currency and the instability that could follow. (FT)

In the news:

Chipping in

Tsinghua Unigroup, a Chinese state-owned company, has prepared a $23bn bidto buy US memory chip maker Micron Technology in what would be the largest foreign takeover by a Chinese firm, according to the WSJ. (WSJ)

Russian questions

Deutsche Bank has been asked by a US regulator to provide details of a suspected bribe offered last December to a bank employee in Moscow, part of an intensifying investigation into whether $6bn of trades made by the German lender for Russian clients constituted money laundering. (FT)

Hillarynomics

Hillary Clinton pledged to rein in risk-taking on Wall Street and to jail executives found guilty of financial crimes, in a wide-ranging speech that laid out a progressive agenda for boosting growth and wages that will form the centrepiece of her 2016 presidential campaign. (FT)

Get rich or … go bankrupt

50 Cent, the American rapper whose hit albums include the multiplatinum Get Rich or Die Tryin‘ and who pitched his background as a drug dealer as a useful guide for a business career, has filed for personal bankruptcy. (FT)

Puerto Pobre

Officials in Puerto Rico have told creditors it is premature to discuss how itsbonds will be treated as the two sides held their first formal meeting since the Caribbean island’s governor admitted that its $72bn debt pile was not payable. The US territory’s economic and fiscal woes have been building over years of economic recession and deficit borrowing. (FT)

Qatar takes Spanish steps

A Qatari investor has placed a EUR1bn bet on Spain’s economic recovery, with a deal to acquire 10 per cent of El Corte Inglés, owner of the eponymous chain of department stores. The Spanish group confirmed the sale of the stake to Sheikh Hamad bin Jassim bin Jabr al-Thani, a former Qatari prime minister, late on Monday. (FT)

It’s a big day for:

New Horizons, the Nasa spacecraft that is due to fly by Pluto. The voyage will give scientists a trove of images and data. (BBC)

Food for thought:

A taxing issue

EU authorities are investigating countries suspected of offering preferential tax deals to multinationals. The European Commission has said it will soon issue decisions on four watershed test cases, including Apple in Ireland and Starbucks in the Netherlands. (FT)

Quiet prayers

There is little outward sign of any religion other than Islam in Dubai amid crippling restrictions on freedom of speech. However the city is quietly tolerant of other faiths and rulers have ensured people with different beliefs have a place to worship. (BBC)

On the losing side

The small Indian state of Manipur lays claim to being the home ofManipuri ponies, a rare breed of polo pony, as well as the origin of the modern game. The animals are celebrated for their stamina, speed and ability to survive in harsh weather conditions but conservationists say Manipuri ponies are now so far in decline that they are critically endangered. (BBC)

Super Satoru

Satoru Iwata, president of Nintendo, led the Japanese gamemaker for 13 years before his death last Saturday. This piece explore his legacy. (Bloomberg)

Green fingers

Recent immigrants to St Louis are establishing urban gardens, to help them adapt and prosper as well as revitalise the city. (The Atlantic)

Video of the day:

In October last year US Treasuries, the bedrock of global finance, experienced a wild swing with the yield on the bonds moving from 2.2 per cent to 1.86 per cent and back to 2.14 per cent in a single day. FT reporters dissect a report by regulators into what happened.

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: Business men and women cross a street. REUTERS/Claro Cortes IV.