China

Greece returns asylum-seekers under EU deal, a spy reveals all and the Taliban's failed app

Migrants board a Turkish-flagged passenger boat to be returned to Turkey, on the Greek island of Lesbos, April 4, 2016.

Greece has signed an EU deal to return failed asylum seekers to Turkey. Image: REUTERS/Giorgos Moutafis

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A huge leak of documents from a Panamanian law firm has provided an unprecedented insight into the use of offshore financial centres by the rich and powerful, which could have reverberations from Russia to Iceland to Fifa.

“I think the leak will prove to be probably the biggest blow the offshore world has ever taken because of the extent of the documents,” said Gerard Ryle, director of the International Consortium of Investigative Journalists, which was involved in the year-long investigation.

Here are some key findings, as well as an interactive graphic exploring the activities of 140 world leaders and politicians named in the leak. (FT, ICIJ)

In the news

Deutsche Bank loses top 3 slot Germany’s biggest lender has lost its position as a top three global investment bank — an accolade it has held since before the financial crisis — after the weak euro and the bank’s restructuring relegated it into fifth place in a benchmark industry league table. (FT)

Finding Orwell in China The country is rolling out a nationwide system of social control known as “grid management” in a revival of state presence in residential life that had receded as society liberalised during recent decades. (FT)

Trump brands Nato ‘obsolete’ Donald Trump has stepped up his attack on Nato, saying he would force member nations to leave the transatlantic security organisation unless they contributed more money to what he said was an “obsolete” defence alliance. (FT)

Tesla’s Model 3 bonanza Fans continued to deluge the electric car maker with pre-orders for its new, lower-cost Model 3 over the weekend, with estimates pointing to a potential $10bn in sales. The order count — which on Saturday stood at about 276,000 — is more than double the number of Model S cars Tesla has sold since introducing its luxury electric sedan in 2012. (FT)

A spy reveals all A previously unseen video of one of Britain’s most infamous spies describing his career as a Soviet agent has been uncovered by the BBC. It is the first time that ex-MI6 officer Kim Philby can be seen talking about his life as a spy from recruitment to escape. (BBC)

It's a big day for

Virgin America, which is set to announce its sale to Alaska Air in a deal valuing the US carrierat about $2bn. (FT)

Refugee crisis Greece is preparing to return a group of failed asylum-seekers to Turkey amid fears of further unrest at detention centres on the Aegean Islands, where almost 6,000 refugees and migrants are awaiting deportation. (FT)

The battle against dengue Pharmaceuticals group Sanofi is set to launch the world’s first mass vaccination programme for dengue fever in the Philippines, bringing to fruition a 20-yeardevelopment process in which the French drugmaker has invested €1.5bn. (FT)

Food for thought

The self-induced twilight of the west If there were any doubt Barack Obama’s priorities lay beyond Europe (and the Middle East), they have been put to rest in the past year, writes the FT’s Edward Luce. And there are two big obstacles to reviving the west as we knew it: the crisis in Syria and surging populism. (FT)

The asset seizure will not be Instagrammed The young heirs of the world’s super-elite have garnered worldwide envy and derision for flaunting their lavish lifestyles on social media. But these self-styled rich kids of Instagram are, often unwittingly, revealing their parents’ hidden assets and covert business dealings, providing evidence for investigators to freeze or seize assets. (Guardian)

Rules for composing your LinkedIn summary Lucy Kellaway lays down some vital lessons for putting together your personal pitch: no jokes, stick to the point, don’t be a twit. “As for the rest of it, I am still chewing my pencil. But that might be because I don’t know what the site is really for.” (FT)

The Taliban these days The Afghan fundamentalist movement launched an app to spread its propaganda digitally, but quickly hit a snag. ‘Technical issues’ forced the program off Google’s app store soon after it arrived. (Quartz)

Workers of China unite The country’s Communist party has long used economic growth as the justification for its one-party rule. However, this model is beginning to falter as the economy loses steam and worker demonstrations proliferate. (NAR)

Blackstone: the new property barons For years after Blackstone entered the property business in 1993, there was no single dominant player in the industry. Now it dwarfs every other firm. (FT)

Video of the day

Tracey Emin on ambition and ageing On the opening of a new exhibition in Hong Kong — her first in greater China — the former YBA discusses love and loss, ambition and ageing, with the FT’s Griselda Murray Brown. (FT)

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