Germany moves to tighten migrant benefits, key Singapore election issues and revolt brewing in the Vatican

The daily briefing “FirstFT” from the Financial Times.

Germany’s governing coalition has moved to tighten benefits for migrants as Chancellor Angela Merkel displayed a sharper tone towards those drawn to the country for economic reasons.

Following criticism from her conservative allies, Ms Merkel suggested there were limits to the generosity the country has shown migrants. (FT)

In the news

Glencore to cut debt The London-listed natural resources group announced plans to slash its $30bn debt pile by shelving dividends, selling assets and issuing new shares, as it wrestles with a slump in commodities that has battered its share price. (FT)

No deal, says Rosneft chief Russia will not work with Opec to curb a global oil glut even after prices hit the lowest level since the financial crisis, according to the chief executive of Rosneft. Igor Sechin’s comments damped speculation that recent communications between Moscow and Saudi Arabia could yield a supply agreement. (FT)

Briton killed by drone Reyaad Khan, a 21-year-old Isis recruit from Cardiff, has become the first Briton to be targeted and killed by his own government in a drone strike. (FT)

Ride-sharing rivalry in China Uber is focusing more funds and firepower on beating local competition in China, with the ride-hailing app confirming it has raised $1.2bn in a round that included investment from Chinese search engine Baidu. The money was raised shortly after it was reported that local rival Didi Kuaidi had raked in $3bn in a recent fundraising. (FT)

A ‘Kafkaesque’ nightmare A Thai-British academic has been released from custody in Bangkok after being detained over a historical dispute with a Thai official who plagiarised his work on asparagus. Wyn Ellis described the bizarre saga as “Kafkaesque.” (FT)

Key Singapore election issues Singaporeans head to the polls on Friday in what some observers have suggested is the city-state’s most important election since independence. Here are the five key issues looming in voters’ minds. (FT)

It’s a big day for

The Late Show Comedian Stephen Colbert takes over from David Letterman as the host ofThe Late Show – one of the most important slots in America’s TV schedule. (FT)

Toyota , which is set to unveil the 2016 Prius in Las Vegas. The new model will have at least 10 per cent greater fuel efficiency than its predecessor, according to company executives. (Yahoo)

Food for thought

Revolt brewing in the Vatican Pope Francis’s progressive allies have heralded him as a revolutionary, a man willing to upend deeply ingrained church convention. However, his reforms are not popular with everyone, with conservative clerics pushing back against changes they say have left the Vatican hierarchy more polarised than at any point since the 1960s. (WaPo)

ECB quantitative easing: Failure to spark Despite cheap credit and low interest rates, many companies say it is still too early to spend. (FT)

Attendant suspended for not serving alcohol A Muslim flight attendant has filed a discrimination report in the US after she said she was suspended for refusing to serve alcohol on a flight – a practice that is against her religious beliefs. (USA Today)

Ten years of the City Much has changed in the Square Mile over the past decade. From the rollercoaster stock exchange to the soaring skyline, this infographic visually charts the highs and lows of the City of London. (City AM)

All out of antivenom The world is running out of one of the most effective snakebite treatments, according to Médecins Sans Frontières. Stocks of the most potent antidote will expire next year and there is no comparable replacement. (BBC)

Video of the day

Refugees test European compassion Gideon Rachman, chief foreign affairs commentator, discusses the limits of Europe’s policy response to the escalating migrant crisis with Frederick Studemann, comment and analysis editor. (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 German national flag is seen atop the Reichstag building. REUTERS/Fabrizio Bensch.