Quartz Daily Brief—Asia Edition—US jobs data, no rate cuts in Europe, workplace bullies

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What to watch for today

Mixed signals from the US labor market. Jobs data for June could offer clues on when the US Federal Reserve will start tapering its bond purchases. Economists expect nonfarm payrolls to rise by 155,000 in June, well below the six-month average of 194,000. But, the unemployment rate is forecast to fall to 7.5% from 7.6% in May. Canada too will release its jobs report.

China looking for a greater say in the gold markets. The Shanghai Futures Exchange will start night trading hours for its gold and silver contracts. China believes the move will increase the international interest in its gold contracts and align domestic prices more closely with international rates.

Germany will report its factory orders for May. April was surprisingly weak. Spain will also publish its industrial output data.

HTC struggles to bounce back. The Taiwanese smartphone maker is expected to meet its guidance of $2.33 billion revenue in the second quarter, but will fall short of its own performance last year. Its HTC One smartphone has meanwhile gotten rave reviews.

While you were sleeping

In an unprecedented move, the European Central Bank pledged to keep rates low. President Mario Draghi said the central bank would keep rates at or below the current level for an “extended period.” The statements calmed fears that any tapering of asset purchases by the US Fed would choke Europe’s recovery. The ECB held its policy interest rates unchanged at 0.5%.

The Bank of England too broke with tradition and issued guidance. There were no rate cuts in England either, but new governor Mark Carney issued a statement saying that the market’s expectations of future interest rate rises was “not warranted.”

A breakthrough in Portugal. Political leaders agreed on a broad formula to preserve the ruling coalition. The recent resignations of the finance minister and foreign minister had triggered a political crisis and sent borrowing costs soaring.

Egyptian military cracked down on Mohamed Morsi’s supporters. Senior Muslim Brotherhood members were arrested even as the chief justice Adli Mansour was sworn in as the interim president. An alliance of Islamists has called for peaceful demonstrations on Friday to protest Morsi’s ouster.

Quartz obsession interlude

Steve LeVine on how the trend is against bribes, except in the US:  ”Global transparency watchdogs are disputing the rationale for a US federal judge’s ruling that exempts American oil and mining companies from publicly divulging their payments to foreign states and their rulers.” Read more here.

Matters of debate

The world is still divided over what to call Mohamed Morsi’s ouster. Some say it was a coupOthers disagree.

Economics should be more like other sciences. And economists should be required to replicate their findings before publication (paywall.)

The US government’s spying is straight out of the mob’s playbook. The threat of surveillance is enough to “exhort” behavior out of the masses.

Surprising discoveries

France too is spying on its citizens. But it doesn’t even want Google users to get a look at its intelligence agency headquarters.

It can pay to be a bully. Many workplace bullies receive positive evaluations and achieve high levels of career success.

Finland’s gift for UK’s royal heir. It’s a box full of baby goods that can double up as a crib.

Our best wishes for a productive day. Please send any news, comments, baby gift ideas, and bullying strategies to You can follow us on Twitter here for updates during the day.

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