TPP sealed, IMF forecasts and the secret world of London’s luxury hotels

The daily briefing “FirstFT” from the Financial Times.

The US and 11 Pacific Rim nations have struck the largest trade pact in two decades, in a huge strategic and political victory for President Barack Obama and Japanese Prime Minister Shinzo Abe. The Trans-Pacific Partnership covers 40 per cent of the global economy and will lower trade barriers to the flow of everything from beef and dairy products to textiles and data.

Here are seven things you need to know about the deal.

It’s a big win for Mr Obama. But the battle to make TPP a reality is far from over as he faces another showdown with the Republican-led Congress. (FT)

In the news

Tensions high around Syrian skies Nato has accused Moscow of “irresponsible behaviour” after Russian jets violated Turkish airspace over the weekend. The Turkish army reported that two of its jets were harassed and placed under radar lock by a Russian MiG for nearly six minutes. (FT)

The battle to boot Bloomberg Alphabet, Google’s renamed parent company, is set to become the latest investor to back Symphony, joining a host of big banks in their attempt todislodge Bloomberg’s dominant position in Wall Street messaging. (FT)

Air France bosses left shirtless The carrier’s executives were forced to flee following a scuffle with demonstrators, who stormed a room at Charles de Gaulle airport where management was announcing 2,900 job cuts. The head of human resources and a director had their shirts ripped off in a chaotic scene that saw them climbing fences to escape. (FT)

The spooks are listening UK intelligence agency GCHQ has the power to take “total control” of smartphones, US whistleblower Edward Snowden has said. In his latest interview, the former intelligence contractor said the British spy organisation has the ability to turn smartphones into listening tools, as well as control the power function of the devices. (BBC)

Let’s get this vote over with Business is pressing David Cameron to accelerate plans for an EU referendum, warning that delaying the vote to 2017 would leave the “in” campaign more vulnerable to a “whack the political elite” message. The UK prime minister’s negotiating team is still aiming to secure EU reforms and call an early referendum, but concerns are rising in Brussels that talks have stalled amid the refugee crisis. (FT)

It’s a big day for

Global growth The IMF is set to release its World Economic Outlook report ahead of the fund and the World Bank’s annual meetings in Lima. In July the fund cut its forecast for global growth this year from 3.5 per cent to 3.3 per cent. (FT)

Food for thought

A very 21st-century job title When it comes to impressive business cards, few people can compete with Nasa’s Catharine Conley. Her job title: planetary protection officer. Her mission: saving Mars from human bacteria. (NYT)

The Swedish situation Thousands turned out on the streets of Stockholm last month in a show of support for refugees from Syria and the wider Middle East. However, despite remaining resolutely pro-immigration, Sweden has found it is not immune to the challenges migrants bring, particularly with distributing, educating and housing the new residents. (FT)

David Cameron: the accidental radical When the prime minister first took office, it looked like he was going to be another Harold Macmillan – a Tory grandee elegantly steering his country to no particular destination. Instead, he is turning out to be a disruptive leader, who will probably leave the state substantially smaller than he found it, says the FT’s Janan Ganesh. (FT)

The world’s emerging voices The most inventive and creative fiction writers, filmmakers and artists from more than 100 emerging market countries were recognised last night at theinaugural Emerging Voices Awards in New York. Among the prizewinners was Chigozie Obioma, whose critically acclaimed The Fishermen tells the tale of how an ominous prophecy comes to fracture a Nigerian family. (FT)

The secret world of London’s luxury hotels The best place to watch the world’s money pouring into the UK is neither the London Stock Exchange nor the offices of the City’s law firms, but holding a cup of tea in one of a handful of high-end hotel lobbies. These foyers are public spaces with privacy designed in – and are just one reason why the city’s luxury hotels have become so popular with the global super-rich. (The Guardian)

Video of the day

Revival of the weakest John Authers analyses an impressive rebound for global stock markets where the stocks and currencies that were most heavily sold have enjoyed the biggest bounce. (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 container ship departs. REUTERS/Andy Clark.