MH370 debris confirmed, For sale: City airport and a Martian mystery

The aircraft part that washed up on Reunion Island last week is definitely from MH370, Malaysian prime minister Najib Razak said on Thursday. Investigators “conclusively” linked the piece to the Boeing 777 jet that vanished 17 months ago with 239 people on board.

Here’s how the missing jet’s debris could have washed up on the island off the coast of Madagascar, far from its intended route from Kuala Lumpur to Beijing. (FT, NYT)

In the news:

Stormy waters

In a move apparently aimed at defusing tensions with its neighbours, China’s foreign minister announced that Beijing had already halted its island-building efforts in the South China Sea. The claim was greeted with scepticism by US officials, who alongside their Asian allies, have viewed the land reclamation work with consternation. (WSJ)

Out of juice

Electric car manufacturer Tesla Motors has warned it is unlikely to meet its target of 55,000 vehicle deliveries this year. Analysts had expected a bump from the launch of the Model X – an electric SUV – but Tesla founder Elon Musk has admitted it “may be the hardest car to build in the world.” (FT)

For sale: City airport

If you happen to have a spare GBP2bn lying around, one investment option might be London’s City airport. Beloved by corporate executives for its proximity to the city’s financial district and a symbol of London’s resilience as a global business hub, the airport is up for grabs this year. (FT)

Thought police

China has further tightened its grip over the country’s 650m web users by placing police officers inside some of the country’s largest internet companies. The move is aimed at finding out “about illegal internet activity more quickly,” said a senior Chinese official. (FT)

Saudi Arabia’s $27bn bond pitch

In the starkest sign yet of the strain lower oil prices are putting on the finances of the world’s largest oil exporter, the kingdom has been sounding out demand for an issuance of about $5.3bn a month in bonds – in tranches of five, seven and 10 years – for the rest of the year. (FT)

It’s a big day for:

The residents of Hiroshima, who commemorate 70 years since the “Little Boy” atomic bomb was dropped on the city, killing as many as 140,000 civilians. The local government expected representatives from more than 100 countries to attend its annual ceremony today. (FT)

Uber, which faces a serious court battle in San Francisco. The popular ride-sharing start-up will be attempting to convince a judge that its drivers are independent contractors, rather than employees entitled to unemployment and workers’ compensation, in a case that could have huge ramifications for the wider sharing economy. (Bloomberg)

Food for thought:

Russia mulls condom ban

Protectionist measures may well leave Russians without, well, protection. The country’s trade ministry has proposed that imported condoms be on a list of products that Moscow should consider banning. One official said the move might even help the country solve its demographic problems. (Quartz)

Debt markets: After the binge

Low interest rates sparked record bond issuance. But with rates set to rise the market is anxious. (FT)

The next warzone

Global warming and melting ice caps could turn the Arctic into a 21stcentury battlefield, according to a new Pentagon study on the national security risks of climate change. The report comes amid renewed claims by Russia to vast swaths of the polar continent. (Slate)

Expiration dates are bogus

Or so say the National Resource Defense Council, a US environmental group, which believes that most expiration dates are largely made up. “Sell by” dates are simply an indication of when food has reached its “optimal quality,” it says. (Business Insider)

Flowering of the Singapore garden

Keenly pragmatic thinking lay at the heart of Lee Kuan Yew’s Singapore and its transformation from a third world city into a first. But what is needed now is a little poetry – a renewal that would allow the city’s social, cultural and political realms to flourish, says the FT’s David Pilling. (FT)

Martian mystery

An image of a crab-like object on the surface of Mars has fuelled social media chatter about the existence of alien life on the red planet. But scientists have been quick to kill the online buzz, saying the object could likely be attributed to pareidolia – the phenomenon that causes people’s brains to see shapes in clouds. (News Corp)

Video of the day:

Obama blasts critics of Iran deal

In a speech aimed at wavering Democratic Congressmen, Barack Obama said that the campaign against the Iran deal reflected the “mindset” that led to the Iraq war. (FT)

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: The new Airbus A 380 super jumbo jet airplane stands at Frankfurt airport. REUTERS/Kai Pfaffenbach.