IMF urges bold action, the new billionaire capital of the world and why we need humanities

The IMF urged the world’s leading economies to join forces to take bold action in a bid to boost growth, highlighting concerns that global market turbulence is starting to hurt the real economy. The call came ahead of Friday’s gathering of G20 finance ministers and central bank governors in Shanghai, and on another day of global market turmoil. (FT)

In the news:

Sharp accepts Foxconn buyout offer

The board of Japanese electronics group Sharp hasdecided to accept a $6.2bn takeover offer from Taiwan iPhone maker Hon Hai Precision Industry — better known as Foxconn. (NAR)

The billionaire capital of the world

. . . is now Beijing. The Chinese capital has overtaken New York as home to the most billionaires, with 100 to the Big Apple’s 95. (AP)

CEO email scam costs companies $2bn

A con in which criminals impersonate executives has cost businesses more than $2bn in two years, with more than 12,000 victims affected globally, according to the FBI. (FT)

Free speech under threat in terrorised Europe

In Spain, police arrested a pair of puppeteers, locked up a woman for inciting terrorism via Twitter and charged a rap musician and a poet on similar grounds. Critics are growing increasingly alarmed that anti-terror laws are being applied in increasingly broad ways as the spectre of Islamic extremism preoccupies Europe. (NYT)

Trump eyes path to the White House

After a landslide win in the Nevada caucuses and big victories in New Hampshire and South Carolina, Donald Trump can no longer be dismissed as a contender for the White House. His results in the primaries underscore how he appears to be getting stronger as the field thins. (FT)

Johnson & Johnson to pay $72m in cancer suit

A jury awarded the money to the family of an Alabama woman who died from ovarian cancer, which she said was caused by using the company’s baby powder. (WSJ)

It’s a big day for:

Europe’s borders

EU home affairs ministers will meet to discuss potentially extending internal border checks and a proposed European coast guard, as the refugee crisis threatens passport-free travel across the continent. (CityLab)

Food for thought:

This robot can take a punch

A unit of Alphabet released a video showing a new version of its robot Atlas trudging through snow, walking out of its offices and being assaulted by its creators. (Gizmodo)

Chronicle of a Chinese crash foretold

Today, some analysts describe the Chinese real estate market as the single most important sector in the global economy — and the biggest risk factor . This is less fantastic than it sounds when you consider that in two years — 2011 and 2012 — China produced more cement than the US did in the entire 20th century, writes the FT’s Jamil Anderlini. (FT)

The British propensity to apologise

The British are famous for how frequently they say “sorry” — even when they’re not at fault. But does the data hold up this stereotype? And is apologising so often really that bad? (BBC)

Why we need humanities

Enthusiasm for the study of humanities is much diminished and our data-driven culture bears much of the blame, writes Arnold Weinstein. The arts can no longer compete with the prestige and financial pay-offs promised by studying the STEM fields — a curriculum integrating science, technology, engineering and mathematics. “These are all worthy disciplines that offer precise information on practically everything. But, often and inadvertently, they distort our perceptions; they even short-change us.” (NYT)

Coincidences and the meaning of life

The surprising chances of our lives can seem like they’re hinting at hidden truths, but they’re really revealing the human mind at work. (The Atlantic)

Video of the day:

Brexit debated: Impact on UK economy

Up for debate: ‘Brexit will boost the British economy’. Supporting the motion is John Redwood, British politician and eurosceptic. Opposing the view is Martin Wolf, the FT’s chief economics commentator. (FT)