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Toyota driver Takamoto Katsuta and co-driver Daniel Barritt in action.
Image copyright: Reuters/Thomas Mukoya
Toyota surges.

Here’s what you need to know

The Biden administration announced a new eviction moratorium. Renters rejoice in 80% of US counties, while landlords despair, as the Democrat government bows to pressure from within its own party.

Joe Biden wouldn’t mind evicting Andrew Cuomo, however. The US president called for the New York governor to quit after an independent inquiry concluded Cuomo had sexually harassed multiple women.

At Tropicana, drinks are not free. Pepsi is selling its juice brands for $3.3 billion to a private equity firm.

Sanofi bought into mRNA technology. The French pharmaceutical firm spent $3.2 billion to acquire Translate Bio, a move widely interpreted as an endorsement of the tech beyond the pandemic.

A Chinese state media outlet no longer describes Tencent games as “spiritual opium.” The original piece precipitated a crash in the tech giant’s share price, which has since mostly recovered.

Olympic champions don’t own their races. Jamaica’s Elaine Thompson-Herah, the 100m and 200m gold medallist, says Instagram blocked her—citing TV rights—for posting videos of her victories.

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Markets haiku: Activision Blizzard gets an extra life

Image copyright: AP Photo/Jae C. Hong

Guess an earnings beat
Means you get an extra life
In the markets game

Shares in Activision Blizzard closed down 3.5% on Tuesday after the company’s president announced his departure amid a lawsuit alleging widespread sexual harassment and discrimination. However, those losses were largely erased in after-hours trading following a positive quarterly earnings report.

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What to watch for

Toyota’s hot streak continues. The Japanese auto giant maker posted record quarterly profits today, making more than $9 billion in the three months up to June 30. Referring to a major cost-cutting program, the company said: “We will continue these activities in the future, but the situation is still unpredictable due to the expansion of Covid-19 in emerging countries, semiconductor shortage, and soaring material prices.”

In the long run, Toyota’s success depends on its ability to produce carbon-free cars that rely on alternative fuel sources. Unlike most other automakers, Toyota originally bet big on hydrogen fuel rather than electric. (The Olympic torch in Tokyo is hydrogen powered, a nod to Toyota’s sponsorship.)

But with hydrogen-powered cars lagging badly behind electric vehicles, the company has adjusted course, slating a line of electric vehicles for release in 2025, as it struggles to catch up to the rest of the industry.

Charting how infrastructure spending affects cities

The US Senate has decided to advance debate on a $1 trillion infrastructure bill whose full text was released on Sunday. The bipartisan compromise is much smaller than the original $3 trillion legislation package proposal, but is still the largest investment in US roads, waterways, and electric utilities in a generation.

At the forefront are US metros, where the majority of US residents live. Urban cores and their surrounding suburban areas stand to benefit from road improvements and carbon emission reduction, and their future will be shaped by desperately needed public transit investment and improvements to public utilities.

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Surprising discoveries

Cities make us happy. New research found lower rates of depression in people who live in large urban areas.

As Earth’s days grew longer, bacteria released more oxygen. New research from Lake Huron explains how early organisms developed.

Germany is testing electric highways. The idea could reduce truck emissions, but it’s still in the early stages of development.

California’s bacon supply is at risk. A new law, supported by voters, will force more humane conditions for animals, but only 4% of hog farmers are currently in compliance.

An alpha female has taken charge of a Japanese macaque reserve. This is the first time in the reserve’s 70-year-history that a female is in charge.

Who run the world? Well, you’ll be a lot more prepared to do so when you read Quartz’s latest.

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