Fed chair bullish on US economy, TPP targets hacking and the Bank of England’s monetary policy decision

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The UK has suggested the Russian plane crash in Egypt may have been caused by a bomb, pre-empting the findings of an investigation and grounding British aircraft at a Red Sea resort.

The government said it was suspending all flights between the UK and Sharm el-Sheikh for the foreseeable future, after holding an emergency meeting of Cobra, its security committee. It also changed its travel advice and warned British citizens against travelling to the area. Three flights set to depart the Red Sea tourist resort for the UK were grounded on Wednesday evening while a team of British aviation experts carried out a security assessment of the airport. (FT)

In the news

Fed chair bullish on US economy Janet Yellen said in a congressional hearing that policymakers might consider raising rates at their December meeting because downside risks from global economic and financial developments had diminished since September. (FT)

TPP targets Chinese hacking Pacific Rim countries will be required to criminalise cyber attacks on companies as part of the landmark trade deal. The rule is aimed at countering Chinese cyber theft, which has become a major source of tension between Beijing and Washington. (FT)

Big bitcoin and the Russian fraudster The price of the cryptocurrency surged to its highest level in more than a year on Wednesday following a wave of glowing Chinese testimonials for an online investment scheme, which requires investors to buy bitcoins to join. However the project bears the hallmarks of a pyramid scheme. (FT)

More woe for VW The German carmaker told dealers to stop selling thousands of vehicles amid fresh allegations from regulators that they contain emissions-cheating software. The news comes as a growing chorus of investors and governance experts calls on VW to rip up itscomplex corporate structure in the wake of the emissions scandal, which knocked a further 10 per cent off its share price on Wednesday. (WSJ, FT)

Nato boosts Mediterranean presence The alliance will outline proposals next month for a new southern strategy in response to mounting instability across the Middle East and a growing Russian military presence south of the Bosphorus. (FT)

It’s a big day for

The Bank of England The central bank will give traders a lot to chew on when it publishes meeting minutes and its monetary policy decision. It is expected to hold rates at a record low of 0.5 per cent. (FT)

You can see more upcoming events here. (FT)

Food for thought

China’s Limit-up Kamikazes The loose-knit group of fund managers thrived in the wild-west Chinese stock market but one of their number was brought down for alleged insider trading after a dramatic manhunt over the weekend. To industry insiders, his downfall was just a matter of time. (FT)

Perhaps you will read the smallprint now? A cartoonist has produced a 94-page graphic novel version of the iTunes terms and conditions with all the dialogue coming from the agreement. (The Verge)

Paradise Lost In South Korea, statistics indicate that a startling number of defectors from the North end up taking their own lives.(BBC)

A colourful solution Meditation on the allure of adult colouring books, with one writer describing how she was converted to the latest technique for stress relief. (The Atlantic)

Growing up too fast A look at life for unaccompanied refugee minors living in tents in Calais. Many say they have no support from the French state and that have been harshly treated by police. (Guardian)

Video of the day

Reasons to worry as US stocks soar As the S&P 500 reaches within a percentage point of its all-time high, John Authers looks at surveys of investors, who are worried about China still, but not about the Federal Reserve.

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 United States Federal Reserve Board building is shown behind security barriers. REUTERS/Gary Cameron.