Negative rates stir bank mutiny, Chinese wealth set to soar and a message of hope in Africa’s statistics

A senior Tory MP has abandoned the Leave campaign in the first major political defection of the referendum debate.

The move by Sarah Wollaston, a doctor and the chair of the Commons Health select committee, is a blow for the credibility of Vote Leave, which has argued leaving the EU would free up funds for the National Health Service.

Meanwhile, former prime ministers John Major and Tony Blair are set to travel to Northern Ireland today to warn that the peace process and the future of the UK could be jeopardised if Britain votes to leave the EU. (FT)

Negative rates stir bank mutiny Lenders in Europe and Japan are rebelling against their central banks’ negative interest rate policies, with one big German group going so far as to weigh storing excess deposits in vaults. (FT)

The beautiful (and lucrative) game Footballer Cristiano Ronaldo is the world’s highest earning athlete, gathering $88m from wages and endorsements over the past year. The striker topped Forbes’ annual list, beating Lionel Messi’s $81.4m and LeBron James’s $77.2m. (FT)

The 700,000-year-old hobbits Researchers on the Indonesian island of Flores have reported finding tiny fossils and tools dating back 700,000 years. The remains are believed to belong to the ancestors of a three-foot tall “hobbit” species which lived on the island 60,000 years ago. (FT)

Amazon raises India stake Amazon has revealed plans to invest $3bn in its Indian subsidiary, doubling down on a push to establish itself as the leading player in one of the world’s fastest-growing ecommerce markets. (FT)

Maria Sharapova gets 2-year ban The former world tennis number one was given the sentence after testing positive for a banned substance earlier this year. Sports firms Nike and Head said they would stand by Ms Sharapova and continue their sponsorship. (FT, BBC)

Chinese wealth set to soar Financial wealth held by global retail investors is estimated to reach $224tn by 2020, up over 30 per cent from 2015, the Boston Consulting Group said. Wealth is expected to surge in the Asia-Pacific region, excluding Japan, with private wealth in China expected to rise by 80 per cent. (NAR)

The Democratic party Bernie Sanders is set to meet Barack Obama and Senate minority leader Harry Reid. Is the Vermont senator ready to drop out and unite the party? Gideon Rachman, for one, salutes Mr Sanders, but believes it is time for him to give it up. (FT)

North Sea oil: The £30bn break-up Next year, the Pioneering Spirit, a catamaran the length of five jumbo jets, will sidle up against a Shell oil platform in the North Sea and in a single motion lift the 24,000-tonne platform off its legs before carrying it back to shore. Thus begins an expected wave of decommissioning across the North Sea, as oil companies struggling with low prices shut down production and pack up one of the UK’s most successful industries of the past 50 years. (FT)

The maze deep beneath London The Chislehurst Caves, 22 miles of tunnels and caverns that riddle the ground beneath Bromley, have been many things: a bomb shelter, concert site, mushroom farm and even maternity ward. But there is one thing they haven’t been: caves. The caverns were entirely hand-dug. (NYT)

Sorry JPMorgan, smart guys still wear suits In a memo to its 237,000 staff this week, the banking institution announced a relaxation in its dress code — staff are now allowed to wear “business casual.” Robert Armstrong takes a moment to consider why anyone should botherwearing a suit. (FT)

A message of hope in Africa’s statistics Many African countries have lagged behind in terms of translating economic growth into improved health, writes David Pilling. But despite that lag, the trend line is obvious: things are getting better. (FT)

Hollywood’s millennial problem This year is on pace to be the worst for movies — by tickets bought per US adult — since the 1920s. Tinseltown is losing its grip on young people. (The Atlantic)

Hitman turned YouTube star He was Pablo Escobar’s most feared enforcer. He killed around 300 people, ordered the murder of thousands more and masterminded hundreds of car bombings. Now, after two decades in prison, John Jairo Velásquez — aka Popeye — is back and has recast himself as a YouTube star. (Guardian)