Airlines tighten cockpit rules, AIIB surprise and the struggle for sand

The daily briefing “FirstFT” from the Financial Times.

Airlines are toughening up rules after French prosecutors said the co-pilot of the Germanwings plane deliberately crashed in the Alps. EasyJet, Norwegian, Monarch, Emirates and Air Canada will now require two people in the cockpit at all times. (FT)

The recordings offer no clue as to why the pilot chose to crash the plane, and he had no known links to terrorism. The possibility that he wanted to take his own life, while rare, is not without precedent. (NYT)

In the news

Bombs in Yemen raise oil price The Saudi air strikes on Houthi rebels have raised fears that the civil conflict in the Gulf state could escalate into a regional war. Fighting has also raised concerns about the vulnerability of the Bab el-Mandeb strait between Yemen and Djibouti – a potential “chokepoint” in the global oil market. (FT)

Rothschild family feud More than two centuries after the first Rothschild made his fortune in European banking, two branches of the dynasty will do battle in the French courts over the family name. Edmond de Rothschild Group, a Franco-Swiss private bank and asset manager, is about to issue a cease-and-desist order to French financial adviser Rothschild & Cie. (FT)

UK move to join AIIB a surprise – even to China When George Osborne revealed that Britain would join the China-led Asia Infrastructure Investment Bank, he didn’t just defy the US. He caught UK foreign mandarins and Beijing unawares by making the announcement five days early. He also went against the Foreign Office, which had warned that joining could alienate Japan. (FT)

Meet Petrobras’ new chairman Luciano Coutinho is a staunch government ally and his appointment is likely to enrage investors already unhappy with the corruption scandal that has engulfed the state oil company. He may only serve as an interim chairman until the next shareholders meeting. (FT, WSJ)

Microsoft wades into wage inequality debate The tech group now requires its 2,000 suppliers to give paid leave to its employees. This could affect some 30,000-50,000 contractors in the US who work on services ranging from building maintenance to campus security. Tech companies are at the centre of the controversy over workplace inequality, partly because of the massive wealth they generate for founders and shareholders. (FT)

It’s a big day for

Nigeria Ahead of the presidential election tomorrow, the two main presidential candidates have signed an agreement urging supporters to refrain from violence. Some 800 people were killed after the 2011 vote and there has already been an exodus from the Christian quarter of Kano. Ageing former South African Defence soldiers have also been hired to help government forces reclaim territory captured by Boko Haram, giving a boost to President Goodluck Jonathan who faces a strong challenge from Gen Muhammadu Buhari. (BBC, BBC, FT)

BlackBerry reports Fourth-quarter earnings are expected to show an adjusted loss per share of 3 cents on revenues of $802m. Chief executive John Chen says the next phase of recovery entails shifting revenue streams from handsets to services and software but investors appear to be losing patience. The share price has fallen about 12 per cent since the start of the year. (FT)

Food for thought

Poison as medicine A woman readying for death from Lyme disease found herself cured after being attacked by a hoard of bees. Scorpion venom is used in Chinese medicine to treat everything from eczema to epilepsy. Now researchers are hoping to use bee venom to fight HIV, cancer, arthritis and multiple sclerosis. (Mosaic Science)

The struggle for sand It’s hot stuff. In Dubai, enormous construction projects have exhausted nearby sources of sand, forcing them to ship it in from Australia. Efforts to limit the havoc wreaked by sand mining have spawned a boom in illegal mining: criminal gangs in 70 countries are dredging up tons of the stuff for the black market. Wired reports on how in India, “sand mafia” battles have killed hundreds of people in recent years.

Abe’s order of priorities Japan’s prime minister speaks to the FT and says Japan deserves more credit for its progress. (FT)

Video of the day

Can the Heinz formula work on Kraft? Lex writers discuss whether 3G can repeat the shearing process that it performed on Heinz, cutting costs and driving up its implied value. (FT)

This article is published in collaboration with The Financial Times. 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: An EasyJet aircraft comes into landing during sunset at East Midlands airport, central England. REUTERS/Darren Staples.