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FirstFT – Banks look to stockpile cash, gold medals roll in for Britain and why the world isn’t falling apart

Sign up to receive FirstFT by email hereMaster thieves take note. European banks are considering locking up piles of cash in high-security vaults as interest rates sink below zero across much of the continent. Europe’s highways are not yet jammed with heavily guarded trucks transporting money to top-secret locations but if it becomes financially sensible for banks to hoard cash as rates are cut even further, the practice could undermine central banks’ ability to use negative rates to boost growth. (FT)In the newsRussia bombs Syrian rebels from Iran air base The bombing campaign strengthens Moscow's position in the Middle East and increases pressure on the US to co-ordinate its Syrian military campaign with the Kremlin. (FT)Britain’s gold rush It was another night of success for Britain at the Olympics, with cyclists Jason Kenny, in the keirin, and Laura Trott, in the omnium, producing record-winning performances. And the pair happen to be getting married next month. (FT) Car wars Ford is revving up plans to build the first mass-market driverless car, doubling the number of staff in Silicon Valley and teaming up with China’s Baidu search engine. Meanwhile, German carmakers led by BMW are training their sights on Tesla, pushing to catch up with the electric carmaker.

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Bryan Harris
Bryan Harris is a lead writer at Financial Times. He is a Hong Kong-based journalist with a penchant for international crime stories.

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