The Fed’s decision, beating malaria and more than just a stimulant?

The daily briefing “FirstFT” from the Financial Times.

It’s decision time for the Fed, and whether the central bank will raise rates at its meeting today remains a mystery. Just under half of 30 economists surveyed by the FT expect a rise from the current near-zero band for overnight rates. Goldman Sachs chief Lloyd Blankfein is among those calling for the Fed to hold fire.

Here is everything you need to know about what is happening and how it will affect you. (FT)

In the news

China’s phantom growth Doubts about the country’s official GDP figures are growing, with global investors now basing decisions on a rate of about 5 per cent. This compares with Beijing’s claim that the economy grew at an annual pace of 7 per cent in the second quarter. (FT)

An anti-Uber alliance The rapid expansion of ride-hailing start-up Uber might soon hit a roadblock. Two of its biggest competitors, Lyft and the Beijing-based Didi Kuaidi, have formed a global alliance that would allow each company’s customers to use the other’s services. (FT)

Migrants tear-gassed Violence broke out on Wednesday between police and migrants trying to enter the EU through Hungary’s now-closed border with Serbia. As Budapest stepped up its efforts to halt a flow of people that its government has labelled a threat to the country’s “Christian values”, riot police at the crossing fired tear gas and used water cannon to disperse crowds. (FT)

Fighting talk from Obama The US president has warned that his administration is preparing measures to counter Chinese cyber commercial espionage. “We are preparing a number of measures that will indicate to the Chinese that this is not just a matter of us being mildly upset, but is something that will put significant strains on the bilateral relationship,” said Obama just a week before Chinese President Xi Jinping visits the US. (FT)

Beating malaria Nearly 700m cases of malaria have been prevented in Africa as a result of concerted efforts to tackle the disease since 2000, according to a new report in the journal Nature. The study showed the overall number of infections fell by 50 per cent across the continent. (BBC)

It’s a big day for

General Motors Federal prosecutors in the US have reached an agreement with the company to resolve a criminal investigation into how it broke the law by concealing a deadly problemwith small-car ignition switches. The deal is set to be formally announced today. (ABC)

Food for thought

Corbyn’s questions The new Labour leader transformed prime minister’s questions into an entirely different affair on Wednesday by airing crowdsourced inquiries from members of the public. The new exercise showed both the attraction and flaws of his “new politics”. (FT)

The end of war Why CJ Chivers, perhaps the greatest war correspondent of his generation, suddenly had to stop. “What no one could have known was that the experience Chivers has had at war would be a mirror for the experience of the United States over the same period. Only for him, that experience — and its damaging effects — has been far more personal.” (Esquire)

More than just a stimulant A cup of coffee may be keeping you awake for more reasons than you realise. A new study has found that consuming caffeine before bed slows the body’sinternal clock by delaying the production of the sleep hormone melatonin. (BBC)

Paradise lost, mobile games found Japan’s video games industry is shifting focus towards a lucrative segment of the market: men whose jobs, marriages and children stop them from playing console games. These mostly white-collar men aged between their late 20s and 45 spend about $50 per month on smartphone games, stealing their gaming time from the working day. (FT)

The news at when, again The BBC could be forced to change the time of its 10pm news programme. Culture secretary John Whittingdale raised the prospect as part of a review of the corporation’s impact on commercial rivals. (The Guardian)

Video of the day

Soon we’ll know For one last time, John Authers discusses speculation that the Federal Reserve will raise rates on Thursday. The case for tightening is not as strong as it was before the last rate rise, in June 2006. (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: The United States Federal Reserve Board building is shown. REUTERS/Gary Cameron.