Apple revamp, evidence of Alzheimer’s transmission, and a report for rugby fans

The daily briefing “FirstFT” from the Financial Times.

China has tightened its capital controls in a sharp reversal of its market liberalising rhetoric, as it struggles to contain the fallout from last month’s devaluation of the renminbi.

The State Administration of Foreign Exchange, the unit of the People’s Bank of China in charge of managing the currency, has ordered financial institutions to step up checks and strengthen controls on all foreign exchange transactions. (FT)

In the news

Apple’s radical revamps Among the key features announced at the tech company’s latest shindig: a supersized, 12.9-inch tablet including a keyboard case and an upgrade to the Apple TV remote that ensures it may not immediately get lost every time you somehow manage to find it. The iPhone also got an update, with a faster processor, better camera and new touchscreen features. (FT)

Evidence of Alzheimer’s transmission A study by University College London has found the first evidence that clinical features of Alzheimer’s disease, the most common cause of dementia, can be transmitted between people. (FT)

Hackers look to the skies One of the world’s most sophisticated hacking groups, linked to Moscow, has been accused of hijacking vulnerable commercial satellite communications, using hidden receiving stations in Africa and the Middle East to mask attacks on western military and governmental networks. (FT)

Abu Dhabi hunts for $1.4bn payment A corruption scandal that is engulfing Malaysia’s government and prime minister has pulled in a high-profile Abu Dhabi investment fund over more than a billion dollars that appears to have vanished. (FT)

Brazil cut to junk Embattled Brazilian President Dilma Rousseff received another blow on Wednesday when rating agency Standard & Poor’s cut the country’s prized investment grade credit rating to junk. S&P attributed the move to government backpedalling on its deficit targets and divisions over fiscal policy. (FT)

It’s a big day for

The Bank of England The UK central bank is expected to keep its key interest rate at a record low 0.5 per cent at its latest meeting. (FT)

Food for thought

China sets it sights on the Moon The country is planning the first ever landing of a lunar probe on the far side of the Moon sometime before 2020. (BBC)

North Korea’s fine art scene A look at the Mansudae Art Studio, one of the world’s largest centres for art production, with 700 artists and 4,000 staff members working on a campus just north of Pyongyang. (HuffPo)

One for rugby fans With kick-off for the Rugby World Cup less than two weeks away, the FT launches a special report looking at the leading teams and important issues surrounding the game. Contributors include Will Carling, who discusses the pressures of being a World Cup captain, and leading sportswriter Matthew Engel on his reading of the odd-ball game. (FT)

The dangers in Delhi’s dream The idea that India will effortlessly float above Chinese growth levels is hopelessly smug, says the FT’s David Pilling. Officials should stop gloating about statistics and start enacting meaningful change. (FT)

Japan does corporate comms Coffee vending machines that greet people in the voice of the company boss are being rolled out at a number of businesses across the country. The beverage maker behind the machines said it would help improve work communications. (The Japan Times)

Video of the day

US economy: on the road to recovery? America’s economy is motoring again, and the Federal Reserve is expected to raise interest rates for the first time since 2006 — but the timing is uncertain. Is the real economy ready for a rate rise? (FT)

This article is published in collaboration with FirstFT. 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: A woman uses her Apple iPhone. REUTERS/Lucas Jackson.