Hong Kong woos asset managers with potential tax cuts

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  Good morning from the Financial Times.

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  Today is Friday, March 27th, and this is your FT News Briefing.

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  European bonds took a beating yesterday, and Hong Kong is considering a tax break for its asset managers.

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  Plus, London is finding a use for its trash.

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  So you have to do something with this waste, and you may as well create energy out of it.

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  I'm Mark Filippino, and here's the news you need to start your day.

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  The United Arab Emirates wants an international task force to reopen the Strait of Hormuz.

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  That's according to people familiar with the matter.

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  Separately, one source said Abu Dhabi would deploy its own navy.

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  The decision comes as the UAE bears the brunt of Tehran's retaliation to the U.S.

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  And Israel's war.

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  In markets, the idea that there is no permanent resolution in sight is wreaking havoc on government debt.

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  And yesterday, Eurozone bonds had their worst one-day sell-off in a year.

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  Late yesterday afternoon, U.S. President Donald Trump extended his deadline for Iran

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  to reopen the strait from today to April 6th.

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  He's warned that the U.S.

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