Crunch moment for migrant crisis, Argentina strikes $4.7bn deal with holdouts and Beijing boosts banks

EU leaders are preparing for an emergency migration summit against the backdrop of desperate scenes at the Greece-Macedonia border, where crowds of migrants were beaten back from storming a fence with a salvo of tear gas.

The migration crisis faces a potential turning point this month, with the pillars of the EU’s policy under sustained assault and German Chancellor Angela Merkel facing the first electoral test of her refugee policy. (FT)

In the news:

Judge backs Apple in test case

The US tech group has defeated a US government attempt to force it to unlock an iPhone as part of a criminal investigation into a drugs case, handing it an important victory in the first test case on the issue. The decision comes two weeks after Apple sought a showdown with the FBI over a separate demand in California. (FT)

Mahathir Mohamad quits Umno

Malaysia’s influential former premier said he is quitting the ruling party in protest at alleged “corruption” under the leadership of Najib Razak. Mr Najib is facing mounting pressure over a scandal related to payments of almost $700m to his personal bank account. (FT)

EU denies targeting US companies

Margrethe Vestager, the bloc’s powerful competition chief, has rebuffed claims from Washington that a series of tax probes she has launched into multinationals including Apple and McDonald’s amounts to unfair discrimination. (FT)

Argentina strikes $4.7bn deal with holdouts

The country is set to return to international capital markets after a 15-year ban as it finally reached an agreement with a group of creditors led by Paul Singer’s Elliot Management. (FT)

Beijing boosts banks

China moved to inject cash into its banking system — freeing up banks to lend more — in its latest effort to boost flagging economic growth. Economists said the decision to cut the reserve rate ratio by 0.5 percentage points risked putting downward pressure on the renminbi at a time when economic growth has fallen to a quarter-century low. (FT)

US and Japan urged to bolster alliance

The two nations should set up new military headquarters for missions to defend Okinawa and other islands as part of a broad revamp of their alliance, according to a group of top foreign policy experts. Such headquarters could further embroil the US with the disputed Senkaku Islands, a chain in the East China Sea controlled by Japan but claimed by China. (FT)

It’s a big day for:

The Republican establishment, which is rapidly rallying behind Marco Rubio in an eleventh-hour attempt to derail Donald Trump, amid fears that this week’sSuper Tuesday primaries could seal the outspoken former reality TV star’s gripon the party’s nomination. It may also be Ted Cruz’s last stand. Sign up for our daily US election email here. (FT)

Food for thought:

Booby-trapped meals a bad way to hire

When Walt Bettinger, chief executive of Charles Schwab, is thinking about hiring someone, he invites them out to breakfast. He arrives early, takes the waiter to one side, hands over a large tip and tells him to mess up his guest’s order. He then sits back and watches the candidate’s response. Not only is his trick in bad faith, it is at odds with Charles Schwab’s business model — based on honesty and transparency. To practise it is a bit off, but to boast about it is insane, says Lucy Kellaway. (FT)

China state enterprises: Zombie economy

Beijing has been seeking to steer its economy away from an overdependence on heavy industry and construction. But state-owned enterprises are clustered in smokestack industries such as steel, coal, shipbuilding and heavy machinery, all tied to the old growth model. (FT)

The perils of parenthood

Empathetic parents typically instil in their kids a host of well-documented traits, including lower levels of depression and aggression. However, the positive parenting may have a hidden cost: research has found that while the children of empathetic parents are better off physically and emotionally, the parents may suffer physiologically. (Quartz)

Dating: transatlantic relations

Tired of looking for love in London? Try New York. High-end matchmakers are reporting a rise in London-based clients asking for dates in New York, and vice versa. “There is a crisis in New York — a shortage of single, straight men,” said one would-be Cupid. (FT)

How Millenials almost killed the wine cork

A new generation of wine drinkers came of age with screw caps and plastic bottle stoppers. Now, cork producers are mounting a campaign to win their loyalty. (The Atlantic)

Video of the day:

Oil industry fight for survival

Leaders from the global energy community who gathered in Houston for the Cera Week conference have few choices about how to survive “brutal” market conditions if the price remains capped at around $50 a barrel in the medium to long-term. (FT)