Opportunities in Iran, debt market revival and Grexit redux?

The daily briefing “FirstFT” from the Financial Times.

Days after Greece appeared to escape crashing out of the euro, hawkish German finance minister Wolfgang Schäuble has put Grexit back on the political agenda, raising tensions in Berlin and across the EU. Speaking before a key Bundestag vote on Friday, Mr Schäuble said voluntary departure from the eurozone “could perhaps be a better way” for Greece than a proposed EUR86bn bailout package. Mr Schäuble’s manoeuvre makes clear he is leaving open a Grexit option, even as he is formally backing the latest rescue plan to keep Greece in the eurozone.

Meanwhile, Mario Draghi, head of the European Central Bank, affirmed his faith in Greece remaining in the euro as the central bank raised its limit on emergency loans to Greek banks by EUR900m. (FT)

In the news:

Hope for smaller US banks

Fed chair Janet Yellen has signalled she would be open to raising the asset threshold at which banks are subject to tougher supervision. The $50bn threshold is deeply unpopular with many medium-sized lenders. (FT)

Samsung saga

Samsung C&T’s shareholders have voted in favour of its controversial acquisition by sister company Cheil Industries, despite a vocal campaign against the merger by US activist fund Elliott Associates. (FT)

Goldman profits lose shine

Second-quarter profits at Goldman Sachs more than halvedfrom a year earlier as a resilient performance from the investment bank was offset by choppy bond trading and a big provision for litigation. (FT)

Debt revival

After three weeks of near silence amid political turmoil in Greece, European debt markets were swinging back into activity on Thursday, with nearly EUR7bn of deals pricing, according to Bloomberg. (FT)

MH17 one year on

When Malaysia Airlines flight MH17 fell over eastern Ukraine last year, the villagers below soon had to turn from grieving for the victims and dealing with the aftermath to domestic conflict. But reminders of the crashed airliner are never far away. (WSJ$)

It’s a big day for:

The German Bundestag, which will vote on the most recent bailout package for Greece. German Chancellor Angela Merkel celebrates her 61st birthday on Friday, although it is doubtful she will have much time for personal celebrations.

Food for thought:

Too good to ignore

Lifting sanctions on Iran should open the way for major oil and gas groups to return to the country, but negotiations for deals will be tough. (FT)

Donor fatigue

A look at the way charities raise funds – and in particular on the pleas for donations that arrive through your letterbox. Is the method effective or a nuisance? (BBC)

Not home alone

In a country where 97 per cent of young singletons still live at home, Singapore’s millennials are escaping mum and dad for a night at a local Airbnb (Bloomberg)

Now what?

The story of two ex-convicts who now pick up inmates on the day they are released from prison and guide them through a changed world. (NYT$)

End of the bucket list

A meditation on the appeal of returning to the same place again and again, with itineraries for Cape Town, Sydney and Peru for first-time as well as return visitors (WSJ$)

Video of the day:

Martin Sandbu, FT economics writer, and Jonathan Ford, chief leader writer, debate whether the EUR86bn bailout agreement between Athens and its international creditors makes economic sense for Greece.

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: A man looks a screen outside a United Overseas Bank (UOB) branch in Singapore’s financial district. REUTERS/Vivek Prakash.