Tsipras prevails, US economic rebound and Abenomics

The daily briefing “FirstFT” from the Financial Times.

Greek prime minister Alexis Tsipras fended off a mutinous far-left faction of his governing Syriza party after a day of tense negotiations over a new EUR86bn bailout.

The Greek leader’s proposal to hold a special party congress in September to examine the package was approved by Syriza’s 200-strong central committee early on Friday. (FT)

In the news:

Sky-high tensions

Nato fighter jets have been scrambled to intercept 22 Russian aircraft inmultiple formations over the past week. It brings Nato’s total number of emergency deployment so far this year to more than 250 – the highest number for an equivalent period since the end of the cold war. (FT)

The East is Red

A slew of the world’s biggest companies have sounded the alarm about the slowdown in the Chinese economy, saying that weaker growth would hit profits later this year. Car companies, in particular, have cut forecasts, while industrial goods groups have spoken out on the gloomy outlook. (FT)

The great drone in the sky

Facebook has revealed plans about how it hopes to bring internet access to people in some of the world’s most remote locations. The idea: a solar-powered drone the size of a Boeing 737 that would fly lazy circles about the Earth, providing internet to all below. (USA Today)

US economic rebound

Growth accelerated in the second quarter to an annualised 2.3 per cent after a stronger start to the year than previously estimated, according to the latest figures that point to a steady if not quite robust recovery. (FT)

Amazon shifts into ‘Top Gear’

The world’s largest online retailer has signed a blockbuster $250m deal with Jeremy Clarkson, Richard Hammond and James May to present a series that will premier in 2016, as it seeks to compete with streaming group Netflix. The BBC sacked Mr Clarkson earlier this year after he punched a Top Gear producer, an incident that followed earlier complaints against the presenter for making racist and homophobic remarks. (FT, Guardian)

It’s a big day for:

The 2022 Winter Olympics, which will be awarded to either Beijing or Almaty in Kazakhstan. The former lacks snow. The latter is an unknown “stan”. Both are human-rights nightmares. (Guardian)

Abenomics Japan’s cabinet is to hold a conference on the state of the economy, a day after the central bank chief warned it must be cognisant of the risk that its massive stimulus programme could sow the seeds of an asset bubble, though no immediate signs were present. (Reuters)

Food for thought:

An end to invasive insertions

A new “x-ray pill” may do away with the need for colonoscopies – a daunting, yet important, procedure to check for colorectal cancer, which involves less-than-enjoyable prior preparation. (Quartz)

The faecal Olympics

Athletes competing in the 2016 summer games in Brazil should prepare to get down and dirty: the waters in which they will be swimming and boating are so contaminated with viruses and bacteria they are essentially raw sewage. (AP)

Courting controversy

The restriction of Ai Weiwei’s UK travel visa drew gasps of disbelief from Britons worldwide, who saw the move as London pandering to Beijing. But the decision not to grant the Chinese dissident artist his full requested visa was just the latest incident as David Cameron seeks to curry favour with the Chinese government. (FT)

Fatherly expectations

Millenial men – aged between 18 and 30 – want it all. They want to be hands-on fathers as well as breadwinners. Yet such lofty ambitions are proving difficult, according to new research that suggests these young men struggle to achieve their goals oncethey start families. (NYT)

Silicon Valley v DC

The pro-privacy tech industry and the, let’s say, not-so-pro-privacy US intelligence apparatus are engaged in a battle over the encryption software that uses secret keys to protect credit card details, private emails and corporate secrets from cybercriminals. (FT)

Video of the day:

Best of times, worst of times

As the sell-off of emerging markets stocks and metals continues, there are hopes that the bottom is in sight. Peter Atwater of Financial Insyghts tells John Authers that social sentiment suggests that the worst is drawing close. (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: Delegates cross the street after a plenary session of the National People’s Congress at the Great Hall of the People. REUTERS/Claro Cortes IV.