Pope Francis makes his case, a new perspective on online video and the health benefits of fidgeting

The daily briefing “FirstFT” from the Financial Times.

Martin Winterkorn resigned as chief executive of Volkswagen amid mounting pressure over an emissions scandal that has wiped more than 30 per cent off the company’s market value since Monday. “Volkswagen needs a fresh start,” he said. “I am clearing the way for this with my resignation.”

In a podcast, the FT explores how VW’s diesel cheat was uncovered.(FT)

In the news

London to the fore The English capital has leapfrogged New York to become the world’s leading financial centre, according to a detailed study of 86 cities. The top ranking was attributed to reduced uncertainty over taxation following the general election in the UK earlier this year. (FT)

A £6m handshake Standard Chartered has awarded chief executive Bill Winters shares worth more than £6m for income he forfeited by leaving the hedge fund he founded. The upfront payment comes as StanChart shares have hit new six-year lows amid fears of an economic slowdown in emerging markets and a sharp drop in commodity prices. (FT)

Tech chiefs put on brave face When the biggest names in US technology gathered near Seattle for an address from Chinese President Xi Jinping, they were hoping for an open discussion on cyber security and intellectual property. Instead, they found themselves on thereceiving end of a lecture. (FT)

Swelling the ranks of the poor The World Bank will make the largest change to its global poverty line in 25 years, raising its measure by a half to about $1.90 per day in a move likely to add tens of millions to the ranks of the world’s poor. Meanwhile, the challenge of ending global poverty grows more daunting every day. (FT)

Pope Francis makes his case The pontiff made clear his priorities during his first full day in the US, using two speeches to emphasise tackling global poverty, confronting climate change, caring for migrants and creating a more welcoming Church. “Climate change is a problem which can no longer be left to future generations,” he said on the South Lawn of the White House”. (NYT, FT)

It’s a big day for

Narendra Modi, who heads to New York following a visit to Ireland – the first by an Indian prime minister in 60 years. After touchdown in the Big Apple, Mr Modi is scheduled to discussUN Security Council reform with Brazil, Germany and Japan. (Quartz)

Food for thought

Japan’s ‘Golden Bolt’ A 105-year-old, self-declared “medical marvel” has raced into the Guinness World Records book by clocking 42.22 seconds in the 100 metre dash. However, Hidekichi Miyazaki said he was not happy with the time. “I started shedding tears during the race because I was going so slowly. Perhaps I’m getting old!” (Yahoo)

A new perspective on online video Facebook has launched a new type of video that will take its users one step closer to the immersive experience of virtual reality. The new video, dubbed “360 video”, allows users to change perspectives within a video by moving their cursor or finger on the image as the video plays. (FT)

Putin’s closest ally and biggest liability Ramzan Kadyrov’s Instagram page is filled with pictures of his pet tiger or celebrities such as Elizabeth Hurley and Gerard Depardieu. One image shows a man’s legs and lower torso lying in a pool of blood, with the caption: “Dogs will die like dogs”. The Chechen leader is vulgar, vicious, very rich and Vladimir Putin’s protégé. (The Guardian)

In cash we trust Bank of England chief economist Andy Haldane thinks banning cash and switching to digital money would be a “great technological leap forward”. But his words have more than an unfortunate rhetorical echo of Maoist China, says the FT’s Chris Giles. “It is illiberal and prioritises a skewed view of theory over public acceptability.” (FT)

The health benefits of fidgeting You’ve likely heard the dire warnings about how our sedentary lifestyles and long hours spent sitting in the office will result in early death. Well, here is some positive news: a new study has found that fidgeting while you work may helpoffset the negative health effects of sitting for hours at a time. (Forbes)

Video of the day

Emerging markets and institutions Some doubt whether it still makes sense to talk about emerging markets as one asset class. Teresa Barger of Cartica Capital tells John Authers that developing countries’ institutions remain an important point in common. (FT)

This article is published in collaboration with FirstFT. 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: Pope Francis looks on during an audience with the diplomatic corps at the Vatican. REUTERS/Tony Gentile.