Emerging market warning, poverty down and mega tsunamis

The daily briefing “FirstFT” from the Financial Times.

Moscow has in effect scuppered US coalition plans for a no-fly zone over Syria, with the deployment of advanced military assets, including four Su-30 “flanker” jets and a naval cruiser capable of striking down all but the most sophisticated stealth aircraft.

“The Russian forces now in place make it very, very obvious that any kind of no-fly zone on the Libyan model imposed by the US and allies is now impossible, unless the coalition is actually willing to shoot down Russian aircraft,” said one analyst.

Meanwhile, Syrian President Bashar al-Assad said that Russian support for his regime in a coalition with Iran and Iraq was key to saving the entire Middle East from catastrophe. The four countries would achieve “practical results,” said Mr Assad. (FT)

In the news

EM warning for global economy Emerging economies risk “leading the world economy into a slump”, with lower growth and a rout in financial markets, according to the latest Brookings Institution-Financial Times tracking index. The report paints a much more pessimistic outlookthan the IMF is likely to outline later this week during its annual meeting. (FT)

First Libor brokers stand trial The six men face prosecution in London over allegations theyhelped traders manipulate the interbank lending rate by acting as middlemen. All are accused of conspiring with Tom Hayes, the former Tokyo-based trader for UBS who later joined Citigroup, and others to rig Libor tied to the Japanese yen. (FT)

Poverty down by a quarter since 2012 Extreme global poverty has fallen by more than 25 per cent since 2012, with 200m people rising above a new line of $1.90 a day and more than 130m fewer people living in poverty than previously thought. (FT)

The gun-buying rush Business has been brisk for US gun retailers following the Oregon community college shooting last week that left 10 people dead. “Once the public hears the president on the news say we need more gun controls, it tends to drive sales,” said one vendor. “People think, if I don’t get a gun now, it might be difficult to get one in the future. The store is crowded.” (FT)

Hear no evil, see no evil Nuclear power plants around the world are harbouring a “culture of denial” about the risks of cyber hacking, with many failing to protect themselves against digital attacks, a review of the industry has warned. A focus on safety and high physical security means that many nuclear facilities are blind to the risks of cyber intrusions, according to think-tank Chatham House. (FT)

It’s a big day for

The British Conservative party, which will set out its agenda on the second day of its annual party conference in Manchester. Prime Minister David Cameron yesterday made security a centrepiece of the forum, while chancellor George Osborne today is to outline his plans for improving the nation’s infrastructure. (FT)

Food for thought

No more painful workouts Researchers are working on creating a pill that could one day do away with the need for exercise. The scientists behind the study have already created a blueprint of the molecular reactions to working out and are now looking to identify the most important changes, so they could be replicated using drugs. (Quartz)

It’s still the middle class, dumbo Anyone puzzled by the sustained popularity of Donald Trump and Bernie Sanders in the US should look no further than the country’s latest jobs report. The share of prime age males in work is markedly lower and that idle population is fuelling the angriest bout of populism in decades. (FT)

The ill wind of deflation Economic convulsions in Asia signal changes that imperil global fortunes. Deflation is flowing like a draught of cold air from the region’s powerhouse economies, casting a chill over Japan and Europe, while also endangering US recovery efforts. (FT)

Execs got off lightly Or at least so says Ben Bernanke, the former chairman of the Federal Reserve, whose new memoir argues that more corporate executives should have gone to jail for their roles in the global financial crisis. “It would have been my preference to have more investigation of individual action, since obviously everything that went wrong or was illegal was done by some individual,” he said. (USA Today)

The prospect of a mega tsunami It may seem the stuff of Hollywood thrillers, but tsunamis the size of skyscrapers are all too real a possibility. Scientists say that 73,000 years ago, an island off the coast of Africa was hit by a wave that – literally – moved mountains. (CS Monitor)

Video of the day

Big Game, Big Money Filmed in Vietnam and South Africa, the FT’s Alec Russell investigates the multibillion-dollar illegal trade in rare animal parts and reports on the latest efforts to crack the criminal networks that are driving endangered animals to extinction. (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: A man walks past buildings at the central business district of Singapore. REUTERS/Nicky Loh.