Emerging market outflow, US jobs data and the risks of being tall

The daily briefing “FirstFT” from the Financial Times.

Emerging markets will suffer a net outflow of capital this year for the first time since the 1980s as their economic fortunes darken and the Fed prepares to lift interest rates.

The projection heightens concerns about the fate of leading emerging economies including China and Brazil, which have slowed dramatically, as central bankers and finance ministers prepare to meet in Lima next week for the IMF and World Bank annual meetings. (FT)

In the news

Russia escalates Moscow carried out a second day of air strikes against anti-government forces in Syria and ruled out joining the US-led coalition against Isis as it steps up its military intervention. The actions have blindsided the US – but Mr Putin is taking risks of his own. He has attracted the ire of the world’s jihadis and plunged Russia into the centre of a bitter sectarian conflict. (FT)

Glencore lifts the curtain The UK-listed miner revealed key details of its trading operations and told investors its plans to cut debt were on track in an effort to reassure traders nervous about the impact of falling commodity prices. Shares closed up 3.46 per cent on the news. (FT)

No place for tech competition Apple and Google may have come up with new internet TV devices in the fight for the upper hand in the living room, but in at least one place their rivalry will not play out — Amazon. The world’s biggest ecommerce company has barred sales of the two companies’ streaming TV devices from its store. (FT)

… and the rivalries don’t end there General Motors has thrown down the gauntlet, with plans to take on Google and Apple in the race to develop self-driving cars. GM said its leading position in the US meant it was well-placed to be the “disrupter” that shook up the market. (FT)

Oregon shooting prompts gun plea US President Barack Obama has urged Americans to challenge the gun lobby after 10 people were reported killed in a shooting at a community college in southwestern Oregon. “We are the only advanced country on earth that sees these kind of mass shootings every few months,” he said. (FT)

It’s a big day for

Fed watchers US employers probably added more jobs in September than August, while the jobless rate probably held at a seven-year low of 5.1 per cent. The jobs data will be key to whether and when the Fed decides to raise rates later this year. (FT)

Food for thought

Why it was easier to be skinny in the 1980s Millennials may have their youth and their hair and the attention of marketers and TV executives. But they’re also, apparently, fatter than their parents were – and there isn’t much they can do about it. According to a new study, a given person eating the same amount of calories and exercising the same amount as a person in the 1980s would be about 10 per cent heavier. (Atlantic)

Jerusalem: City of ruins Jerusalem’s historic quarter houses too many people in too little space, with many of its culturally significant buildings now showing collateral damage. The problem is not funds — but the strains on ancient buildings from a large population, most of whom have more pressing needs than historic preservation. (FT)

The benefits of being bearded Despite the hefty price tag, baby-faced men across the US are driving a surge in demand for beard transplants – a process that gives them a “stronger, manlier look”. “A lot of guys go through a midlife crisis and they buy the sports car. I just got a beard,” said one patient. (NYT)

And the risks of being tall A major study has shed light on the link between height and cancer. According to researchers in Sweden, the risk of women developing cancer of any kind rose by 18 per cent for every extra 10cm of height, while for men the risk rose by 11 per cent – although height is not as great a risk for the disease as smoking, obesity and a poor diet. (The Guardian)

Meet the most virile man in Europe Ed Houben is a “natural inseminator,” meaning he and the women who seek him out to get pregnant do it the old fashioned way. He has more than 100 children and goes by the nickname The Babymaker. (GQ)

Video of the day

Bit late to be bearish Being cautious has helped British mutual funds investing in Europe, but it’s now a bit late to turn defensive, suggests FT investment editor James Mackintosh. (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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Image: The United States Federal Reserve Board building is shown behind security barriers in Washington. REUTERS/Gary Cameron.