Securing a new EU deal for Britain, commodities bounce back and the end of the €500 bill

Eurosceptic ministers are planning to disown David Cameron’s “new settlement” for Britain in the EU at a cabinet showdown on Friday.

The British prime minister is confident he can secure a new deal for Britain at a Brussels summit on Thursday night after a week of intense diplomacy in his efforts to avoid a vote for Brexit. But at least five ministers have insisted they want to speak out immediately afterwards. (FT)

In the news:

Russo-Turkey tensions reach new peak

Moscow’s clashes with Ankara have intensified, with each country attacking rebels the other supports. Russia, accused of striking three hospitals in northern Syria, is keen to highlight the divide between Turkey and its Nato partners. Russian arms and military advisers dispatched to coup-prone Fiji are also raising concerns. (FT, NAR)

Commodities bounce back

Commodities from metals to oil rallied as the People’s Bank of China moved to ease concerns about the country’s currency, triggering a broad rally that lifted stock markets and raw materials. (FT)

Why HSBC stayed

The UK chancellor pulled out the stops to make life easier for Britain’s biggest bank and avoid its headquarters shifting to Hong Kong. The bank levy was overhauled, the tough head of the Financial Conduct Authority removed and high-level trips to China aimed to cement London as Beijing’s international financial partner of choice. (FT)

Criminals’ ‘currency of choice’ for the chop

International terrorists, money launderers and German car buyers will have to rethink their currency options after the European Central Bank moved to make the €500 bill a thing of the past. (FT)

SoftBank launches share buyback

In a show of confidence in its business, the Japanese telecoms group has revealed plans for a $4.4bn share buyback. The move follows a steep fall in its net profits and months of decline in its share price. (FT)

It's a big day for:

The global oil regime

Saudi Arabia’s powerful oil minister Ali al-Naimi will meet his Russian, Qatari and Venezuelan counterparts in Doha, as some Opec members push for co-ordination to restrict supplies and bolster the crude price. (FT)

Anglo American

The mining group is expected to unveil restructuring plans as it publishes annual financial results. Mark Cutifani, the chief executive, is under pressure to deliver on pledges to close or sell lossmaking assets amid a very pessimistic outlook for commodity prices. (FT)

Food for thought:

Malaysia: The 1MDB money trail

The growing international scandal over billions of dollars allegedly misappropriated by the country’s state investment fund raises questions over the global management of grand corruption. (FT)

Crafting the perfect email

The trick is to keep messages short and sweet — but not too short or too sweet. The optimum length for an email is between 50 and 125 words and don’t go overboard on exclamation marks! (The Atlantic)

The luxury world inside a Mexican prison

Saunas, mini fridges and fish tanks: all luxuries that would not be out of place in a fancy hotel. Yet, these were just some of the privileges granted to drug cartel leaders in Mexico’s Topo Chico prison — the site of a riot last Thursday that left 49 inmates dead. (The Guardian)

How America was lost

Once upon a time, the death of a Supreme Court justice wouldn’t have brought America to the edge of constitutional crisis, writes Paul Krugman. “But that was a different country, with a very different Republican party. In today’s America, with today’s GOP, the passing of Antonin Scalia has opened the doors to chaos.” (NYT)

Monopoly goes cashless

New rules look set to put an end to scandals involving bankers ... in the world of Monopoly anyway. The board game has done away with the wads of colourful cash in its latest edition in place of an incorruptible ATM. (Gizmodo)

The perils of office niceties

It may feel right to go easy on a new member of staff but failing to give critical feedback early on will only store up trouble, writes Emma De Vita. “By the time they receive real feedback, they may already have made substantial mistakes, damaged relationships and undermined their credibility.” (FT)

Video of the day:

Drones to the rescue

The oil and gas industry is using drones to carry out dangerous or even boring inspections, reducing the risks for staff on oil rigs and refineries and improving the chances of averting serious industrial accidents. The FT’s Anjli Raval finds out what’s involved. (FT)