Greece talks collapse, Ukraine ceasefire and cybercrime

The daily briefing “FirstFT” from the Financial Times.

A crucial meeting over the future of Greece’s bailout broke down in acrimony after Athens angrily rejected the idea of prolonging its bailout and implementing the reforms required as part of it.

It is the second time in five days that negotiations between the new government and its eurozone creditors have collapsed. Athens, with its fast deteriorating public finances, could soon be left with no European financial backstop. (FT)

In the news

Ukraine ceasefire already crumbling Just 48 hours after the ceasefire took effect, the battle for Debaltseve intensified and Kiev refused to surrender a strategic railway hub where thousands of government troops were surrounded and faced attack by Russia-backed separatists. (FT)

Transocean’s dividend slash One of the world’s largest offshore drilling contractors is cutting its dividend 80 per cent – another sign of oil prices battering the industry. The company said the reduced payout would help it retain an investment grade credit rating. (FT)

Prostitutes give up claim on Strauss-Kahn The four prostitutes who participated in sex parties organised for the former IMF head have given up their claim of damages, saying it would be too hard to prove the pimping charge against him. The case against him and 13 other defendants will continue with the women as civil parties. (Reuters)

Egypt bombs Isis branch in Libya Egypt launched air strikes against jihadi targets in Libya to avenge the slaughter of Egyptian Christian workers in Libya. Egypt and France have called for an urgent meeting of the UN Security Council to discuss the deterioration in Libya , which is beginning to suck in its neighbours. (FT)

European tech row Barack Obama suggested over the weekend that efforts to restrain Silicon Valley companies were a form of protectionism. The European Commission hit back, saying Mr Obama was “out of line” and “regulation should make it easier for non-EU companies to access the single market”. (FT)

It’s a big day for

Cyber crime US authorities will hold a news conference on Vladimir Drinkman, a Russian hacker charged with the largest data breach in history. He was extradited while on holiday in Amsterdam and will stand trial in New Jersey. (Bloomberg)

Food for thought

After several years of flat markets, falling profits and declining margins, oil traders are enjoying the most favourable trading conditions they have seen since the global financial crisis. The market rout and high level of volatility may be a boon for 2015. (FT)

China’s blood famine Rising demand for healthcare has exposed a chronic shortage of blood. With supplies tight, patients are turning to agents known as “blood heads” who have created a black market for certificates giving access to state blood banks. (Reuters)

Beijing big brother China faces a problem in trying to simultaneously gather information for itself and keep it out of the hands of the public. James Palmer looks at whether big data will deliver the perfect surveillance state. (Aeon)

Sir Jonathan Ive The New Yorker profiles the senior vice-president of design at Apple – one of the most powerful people at the world’s most valuable company. It looks at how his relationship with Steve Jobs developed and reveals that he had some influence over the design of the Star Wars lightsabres.

Biotech company BGI started out as part of China’s scientific establishment but has since distanced itself from Beijing and developed a reputation for rigorous research. Its fortunes hint at a new model for China’s tech industry. (FT)

Video of the day

Biology meets robotics The FT’s Andrew Ward explores how bionics is being applied in healthcare – from guiding surgeons to cancerous tissue to helping paraplegics to move on their own feet.

This article is published in collaboration with The Financial Times. Publication does not imply endorsement of views by the World Economic Forum. 

To keep up with the Agenda subscribe to our weekly newsletter.

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: A European Union (E.U.) flag (front) and a Greek flag flutter in front of the monument of Parthenon on Acropolis hill in Athens. REUTERS/John Kolesidis.