Job cuts, a Facebook ‘dislike’ button and executives under pressure

The daily briefing “FirstFT” from the Financial Times.

Hewlett-Packard disclosed on Tuesday that it is planning to slash another 25,000 to 30,000 jobs to put its new enterprise business on a stronger footing as a standalone company.

The swingeing cuts come on top of 54,000 jobs that have already gone over the past three years as chief executive Meg Whitman has fought to turn round one of Silicon Valley’s iconic companies. (FT)

In the news

Pope v Trump On his maiden visit to the US next week, Pope Francis is expected to weigh in on an issue that has propelled presidential hopeful Donald Trump to the front of the Republican pack: immigration. But in contrast with the real estate magnate, the pope has a “very soft spot in his heart for immigrants”. (FT)

China keeps dredging Beijing has continued to carry out land reclamation work in contested waters in the South China Sea, more than a month after saying it had stopped such activity. The evidence of continued dredging could complicate a visit to the US by Chinese President Xi Jinping next week. (Reuters)

Keeping Europe open David Cameron’s plans to clamp down on EU migration suffered a setback on Tuesday, as a European court ruled against the UK prime minister’s demand to limit how long EU jobseekers can stay in Britain. (FT)

Pyongyang’s nuclear reboot North Korea says it has revamped and restarted its main nuclear complex in Yongbyon and is working to improve its nuclear weapons “in quality and quantity”, a move likely to rekindle tension with South Korea and the US. (FT)

Corbyn anthem imbroglio New UK Labour leader Jeremy Corbyn has been criticised for his “lack of patriotism” after standing silently as the national anthem was sung during a service to mark the 75th anniversary of the Battle of Britain. (FT)

It’s a big day for

The US Federal Reserve, which begins a two-day meeting that will see a decision on whether or not to raise US interest rates for the first time in a decade. Here is everything you need to know about what is happening and how it will affect you. (FT)

Ahead of the big decision, fastFT asked several economists and strategists for one chart that offers the most powerful argument for either raising rates or not. Follow the charts as they are released here or join the conversation on Twitter with the #chartsforJanet hashtag. (fastFT)

Food for thought

Execs under pressure The collapse of BMW boss Harald Krüger at the Frankfurt motor show on Tuesday highlights the pressure on executives to push on with work, despite exhaustion or illness. In business, if not in entertainment, the show need not always go on, says the FT’s Andrew Hill. (FT)

America’s most admired lawbreaker Over the course of 20 years, Johnson & Johnson created a powerful drug, promoted it illegally to children and the elderly, covered up the side effects and made billions of dollars. This is the inside story. (HuffPo)

You might dislike this Mark Zuckerberg has heralded a “special day” in Facebook history with plans to launch a ‘dislike’ button. The move comes after years of complaining and lobbying by users for a “thumbs down” button to complement the website’s now-ubiquitous “thumbs up” symbol. (FT)

‘The Few’ fly again About 40 Spitfires and Hurricanes took to the skies above England to commemorate the 75th anniversary of second world war’s Battle of Britain. The clash in 1940 was considered a vital moment in British history when pilots of the RAF, who became known as “The Few”, stood up to wave after wave of German fighters and bombers. (BBC)

Spider-like choppers Military researchers in the US are experimenting with adding robotic legs to helicopters, so they can land on uneven or moving surfaces. (Mashable)

Video of the day

An inexplicable bond sell-off Two-year Treasury yields have hit their highest yield in more than four years, on an apparently quiet day. John Authers explains why reduced liquidity has fuelled fears over what might happen when the US Federal Reserve raises rates. (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 man goes up the stairs at Tokyo’s business district. REUTERS/Yuya Shino.