US drops Apple case, Saudi Arabia loses oil market share and Japan's negative rate bounty

The FBI has abandoned its attempt to force Apple to help it break into the San Bernardino shooter’s iPhone, after it found another way to access the device’s contents without the company’s help.

The move ends a high-stakes stand-off between the iPhone maker and the US government but a Department of Justice statement left the door open to legal clashes with Silicon Valley over encryption and data security. (FT)

In the news

Belgian suspect released Prosecutors in Belgium have released the man they believed was the third conspirator in the Brussels airport bombing after an investigating magistrate deemed there was not sufficient evidence to tie him to the attack. (FT)

Georgia governor vetoes religious bill Following pressure from a host of US companies, as well as some of Hollywood’s biggest names, Nathan Deal has axed a bill that would have allowed faith-based organisations to deny their services and employment to people who violate their beliefs, such as those who perform same-sex marriages. (FT)

Fidel Castro lashes out at Obama The former Cuban leader warned compatriots to beware of Washington’s sweet talk less than a week after US President Barack Obama visited the Caribbean island. “We don’t need the empire to give us anything,” said the 89-year-old retired revolutionary. (WSJ)

Anbang raises the stakes One of the fiercest bidding wars in recent years took a new turn after the Chinese insurer raised its bid for Starwood Hotels & Resorts to $14bn in its latest effort to trump a rival offer from Marriott International. Anbang’s offer is the biggest potential US takeover by a Chinese company and would transform it into one of the world’s leading hotel groups. (FT)

Saudi Arabia loses oil market share The world’s biggest oil exporter lost ground to rivals in nine out of 15 top markets between 2013 and 2015, including China, South Africa and the US, even as it increased output to record levels. (FT)

Japan’s negative rate bounty Politicians in Tokyo are calling for the government to spend more than $700m in savings already locked in thanks to negative interest rates. Proponents of the plan hope such a stimulus will spur the economy ahead of elections this summer. (FT)

It's a big day for

Brazil The government’s biggest coalition partner, the PMDB, is expected to break with the Workers’ party in a move that could turn the odds against President Dilma Rousseff when Congress meets to vote on her impeachment, possibly as soon as next month. (FT)

Food for thought

Strains of a scandal For years, the US sought to cultivate Malaysia as a counterweight to both China and Isis. Now the mushrooming 1MDB scandal is complicating those efforts as Malaysian Prime Minister Najib Razak faces multiple investigations into claims of malfeasance at the state investment fund. (FT)

Taking care of business If you want something done ask a busy person, goes the adage, and research suggests that this might well be true, writes Emma De Vita. “The busier you are, the more likely you are to complete tasks, particularly those whose deadlines have been missed.” (FT)

Valeant — the harder they fall Two years ago executives from Pfizer, the world’s second-largest pharmaceuticals group, sat down for dinner with their counterparts at Valeant and raised the prospect of buying the Canadian company. Had they done so, the Valeant story might be quite different: today it finds itself fighting for survival amid plummeting shares and an investigation by the US Securities and Exchange Commission. (FT)

Paid not to kill A district in California has adopted a rather unorthodox measure in a bid to reduce the homicide rate: it is paying criminals as much as $1,000 not to commit gun crimes. And cities across the country are moving to replicate the approach. (WaPo)

Myanmar’s military white paper The country’s armed forces — the Tatmadaw — took the unprecedented step last month of releasing a white paper to foreign diplomats in a move that highlights the military’s growing openness and the country’s increasing confidence inmultilateral diplomacy. (NAR)

Video of the day

Tokyo’s smart money Meet the super-smart Japanese investors who game the system and find out why the world should be watching them. The FT’s Leo Lewis reports. (FT)