Decision day for Greece, Bill Gates bends the curve, and Japan jobs

The daily briefing “FirstFT” from the Financial Times.

It really is the last-chance saloon now – at least that’s what EU leaders say. Saturday will beAthens’ final chance to strike a deal or trigger a “plan B” that would attempt to prevent a Greek default from damaging the rest of the eurozone. Talks failed for a fourth time this week and from the looks of the leaked plans, negotiations haven’t moved much at all.

Greek stocks are pricing in the hopes of differences being resolved, something that could trigger a summer to remember for bond markets. China, meanwhile, is watching warily after seeing how quickly its foreign investment strategies can be upended by electoral politics overseas. Greek businesses , for their part, will be happy when this is all over – 59 have closed down each day since the start of the year. (FT)

In the news

Bill Gates doubles down on renewables The philanthropist plans to double his personal investment in innovative green technologies to $2bn over the next five years in an attempt to “bend the curve” in combating climate change. He talked to Lionel Barber about robots, Uber and the role of government, and Izabella Kaminska was struck by how fast he thought the pace of innovation was moving. (FT)

Va-t’en, Uber! Hundreds of French taxi drivers burnt tyres and clashed with police, declaring an indefinite strike in protest against competition from the upstart California-based transport service. Francois Hollande waded in to call for Uber’s “dissolution”. (FT)

Obamacare victory The US Supreme Court upheld the core component of Barack Obama’s signature legislative achievement, securing his overhaul of the nation’s healthcare system and ensuring coverage for more than 6m Americans. Here’s a guide to the case – what was argued and what this means for individual states now. (FT, NYT)

China blamed for cyber attack The US director of national intelligence publicly blamed Chinese hackers for a breach at the federal human resources department that affected millions of current and former public employees. James Clapper marvelled at the sophisticated nature of the attacks: “You have to kind of salute the Chinese for what they did.” (FT)

Bernie Ecclestone’s F1 future The octogenarian’s supremo status is looking less certain after it emerged that the director of a German company that sued him last year is involved in a bid to take control of Formula One. Media magnate Dieter Hahn is likely to take a minority equity stake in F1 if the deal is done. (FT)

No EU treaty change before referendum David Cameron may go ahead with the vote before any treaty change is in force. He was met with weary disinterest in Brussels yesterday – leaders were preoccupied with the Greek debt crisis and migration across the Mediterranean. As a last resort, he could try calling Taylor Swift. (FT)

It’s a big day for

Japanese jobs Today’s data showed the unemployment rate edged down to 3.32 per cent in May from 3.34 per cent the month before. Labour market conditions are at their best since the country’s stock market bubble burst in 1990 but the BoJ will still be looking for further inflation. (FT)

Food for thought

Vice versus nice John Authers looks at whether divesting from sectors such as fossil fuels is really the best way to force companies to be more responsible. (FT)

Talking of vice… The porn industry is pushing into social media and mobile technology because, as with areas of publishing and entertainment, digital disruption has squeezed revenues. Some are still optimistic, though: “Making porn is not that expensive… If you can’t make money, you’re not very good at it.” (FT)

In conversation with Boko Haram The FT speaks to members of the terrorist group in a dusty prison compound in northern Nigeria. “I tried to join many groups. But none of them spoke to my objective. They were a group of like-minded people who were looking for paradise.” (FT)

Demolition man The New Yorker looks at Matteo Renzi, the youngest prime minister in Italian history, and his quest to remake the republic. “This year, I will change Italy or change jobs.”

Diamonds are not forever No major deposits have been discovered in about two decades, people prefer to splash their cash on expensive gadgets and retailers are consolidating to cut costs. All of which has wiped out profits. Even Japan, the second-largest buyer of diamonds less than 10 years ago, is offloading its old diamonds to India and China as the elderly population sells its jewels in preparation for death. (Reuters, Bloomberg)

Univision cuts off Trump Apparently, after claiming that Mexicans are rapists and bring drugs and crime to the US, Donald Trump’s concession that “some, I assume, are good people” did not fly. The largest Spanish-language broadcaster in the US ended its relationshipwith his Miss Universe Organisation, costing him a lucrative broadcasting deal. Trump plans to sue. (FT, Reuters)

Video of the day

Trading: full speed ahead Technology and regulation have ushered in a revolution in equities trading, wresting large parts of the daily flow from big Wall Street banks. As efficiency squeezes out profits, Nicole Bullock talks to some of the new breed about where they see the best opportunities. (FT)

This article is published in collaboration with The Financial Times. Publication does not imply endorsement of views by the World Economic Forum.

To keep up with the Agenda subscribe to our weekly newsletter.

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 girl holds a Greek flag during a parade. REUTERS/Yorgos Karahalis.