A US appeals court has opened the door for more claims against the big banks for rigging benchmark interest rates, by overturning a three-year-old ruling which threw out a host of private antitrust-related lawsuits.

The decision by the 2nd US Circuit Court of Appeals in Manhattan could be a setback for the likes of Bank of America, JPMorgan Chase and Citigroup, which had hoped that most of the wave of post-crisis litigation was behind them. (FT)

In the news

Temer’s first crisis Brazilian interim president Michael Temer suffered his first casualty less than two weeks after taking office when a senior minister stepped down on Monday night for allegedly plotting to curb corruption investigations. (FT)

Austrian rightwinger concedes defeat The country voted narrowly against electing a rightwing nationalist as president after a closely fought campaign that highlighted the political fallout from Europe’s immigration crisis. The tight election outcome fits the current mood in Europe, in which illiberal and nationalist politicians have seen their popularity soar. (FT)

A rare look inside China's central bank The WSJ got its hands on minutes of closed-door meetings which show how leaders lost interest in making the renminbi's value more market-based. (WSJ)

The shrinking number of triple As The coveted rating is nearly extinct, with just a handful of companies in the world retaining Standard & Poor's seal of approval after ExxonMobil was downgraded last month. The demise of the triple A rating reflects a dramatic rise in the use of debt to help bolster shareholder returns and fund takeover activity. (FT)

Fed bet boosts dollar The greenback is headed for its best month in half a year as Fed officials talk up the prospect of a summer interest rate increase, forcing investors to sharply reappraise their outlook for US monetary policy. (FT)

US lifts arms embargo on Vietnam The US has lifted its 41-year-old arms embargo on Vietnam, President Barack Obama announced on Monday. The move marks a significant shift in his foreign policy amid China's growing military might. (NAR)

It's a big day for

Cyber security The head of Swift will a present a plan to fight back against a wave of recent cyber thefts against members of the global bank payment messaging network. (FT)

Greece EU finance ministers will discuss the country's bailout programme and debt relief. The meeting comes as the IMF confronts Germany over Greece’s unsustainable debt burden, issuing a bleak assessment of its financial future. (FT)

David Cameron, who flies to Japan amid speculation he will try to add the G7 to the growing list of endorsements by global bodies of his efforts to keep Britain in the EU. (FT)

Food for thought

Gangs of El Salvador Savage turf battles between rival gangs have made murder mundane in El Salvador. Now the government, which credits its tough anti-gang task forces in ski masks for helping cut the murder rate by 42 per cent in April compared with March, has promised to bring the gangs to their knees in a year. (FT)

Angelina Jolie joins the LSE The Hollywood actress is to join the London School of Economics as a visiting professor on a new masters course. Expect packed classes. (BBC)

The American retreat from greatness If the US starts pulling back from its international role, other powers, such as China and Russia, will move to fill the vacuum, writes Gideon Rachman. “Mr Trump’s foreign policy ideas actually amount to a headlong American retreat from ‘greatness’ on the world stage.” (FT)

The great Swiss bank heist How an Italian computer technician exposed a Swiss bank’s darkest secrets at the onset of the global financial crisis. “It used to be that when people thought of Switzerland it was chocolate, watches, and rich people. Now it is also corruption.” (New Yorker)

The factions behind the fight against Isis In the two years since Isis shocked the world by seizing Mosul and large swaths of Syria and Iraq, the US-led coalition battling the group has made progress. But the regional rivalries bolstered by the fight are getting in the way of some of the most critical battles against the jihadi group. (FT)

A tour of tech HQs Facebook has WiFi-enabled wildflower meadows, LinkedIn an in-house pastry chef, and Samsung tai chi in the cactus garden. But they’ll all be left behind by Amazon’s jungle biospheres. (Guardian)

Video of the day

Transforming Tate Modern: an exclusive preview The world’s most visited museum of modern and contemporary art will open a £260m extension next month. The FT’s architecture critic Edwin Heathcote takes a tour of the building with its architect, Jacques Herzog, and meets Tate director Nicholas Serota. (FT)