The daily briefing “FirstFT” from the Financial Times.
This article is published in collaboration with FirstFT.
Brussels is to propose the creation of a standing European border force that could take control of the EU’s external frontier — even if a government objected. The move would arguably represent the biggest transfer of sovereignty since the creation of the single currency.
It comes against the backdrop of a crisis that has seen 1.2m refugees reach Europe this year and represents a last-ditch effort to save the Schengen passport-free travel zone. (FT)
In the news
Fosun International suspends shares The company, one of China’s most internationally acquisitive groups, suspended trading in its shares on Friday in the wake of reports that Guo Guangchang, its chairman, was missing. The news comes in the midst of a corruption crackdown that has seen the disappearance or arrests of several top executives in the country’s financial industry. (FT)
Donald Trump blasts ‘ungrateful’ Scots The Republican presidential frontrunner accused Scottish leader Nicola Sturgeon of failing to appreciate his greatness, after Holyrood dropped the US presidential candidate as a business ambassador. (FT)
UK storm linked to global warming The exceptional rainfall that wreaked havoc across northern England and Scotland as Storm Desmond tore through the UK last weekend can be linked to man-made global warming, scientists have claimed. Climate change increased the chance of such record rains by about 40 per cent, according to data compiled by an international team of researchers. (FT)
In the market for digital media Atlantic Media has held talks with a number of potential buyers interested in digital media about a sale of or potential investment in Quartz, the publishing group’s news site. A sale is not certain, but the talks come as valuations of successful digital media outlets are hitting fresh highs. (FT)
Ayatollah Ruhollah Khomeini’s grandson to enter politics Hassan Khomeini, the moderate grandson of the founder of Iran’s 1979 Islamic Revolution, will in February run for the Assembly of Experts — the body that will probably determine the successor to Ayatollah Ali Khamenei. Reformists say Hassan Khomeini embodies the hopes of those who want to restore the legacy of his grandfather, which they say has been hijacked by hardliners. (FT)
It’s a big day for
Mauricio Macri begins his first full day as Argentina’s new president. At his swearing-in on Thursday, Mr Macri promised to end poverty, fight drug trafficking and unite Argentines. (FT)
Indo-Japan relations India’s cabinet cleared a $15bn Japanese proposal to build the country’s first bullet train line ahead of Prime Minister Shinzo Abe’s three-day visit. (FT)
Food for thought
US history Trump-style As Donald Trump seeks to become the presidential candidate of the party of Lincoln, the Financial Times has found transcripts of the great speeches and text from US history as delivered by The Donald. “Spare me your tired, your poor, your huddled masses…” (FT)
Burning the bodies At the height of Liberia’s Ebola crisis last year, about 30 young men were called upon to do something few in this deeply religious country had ever done before: burn the bodies to help halt the spread of the deadly disease. For four months they burned close to 2,000 bodies and, it seems, helped to save the country. One year later, they have been shunned and ostracised, their lives all but completely destroyed. (NYT)
The real political danger Donald Trump is disgraceful; Marine Le Pen is dangerous, writes the FT’s Philip Stephens. “The frontrunner for the Republican presidential nomination has a flair for the outrageous . . . The leader of France’s National Front could upturn the politics of a continent.” (FT)
America’s golden oldies The US middle class is already being reshaped by its ageing population, and older citizens are set to play a swelling role in the economy as their weight in the middle and upper income brackets mounts. (FT)
A spy puzzle for the holidays Tis the season for Christmas cards and . . . cryptographic challenges. British intelligence agency GCHQ have combined the two this year and are inviting the public to try crack the code. (Quartz)
Video of the day
What South Africa minister sacking means South Africa President Jacob Zuma has removed his finance minister Nhlanhla Nene. Former South Africa FT bureau chief Alec Russell explains why investors are concerned at the move and considers whether this is a Rubicon moment for the country. (FT)
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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: An elderly couple looks out at the ocean as they sit on a park bench in La Jolla, California. REUTERS/Mike Blake.