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Quartz Daily Brief—Asia edition—Trade pact, FIFA scandal, the falling British empire and bee suits

Published Last updated This article is more than 2 years old.

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What to watch for today

US-EU trade pact faces a test in the EU parliament.  The Committee on International Trade will vote on recommendations for the Transatlantic Trade and Investment Partnership, or TTIP. Any decision will be closely parsed for clues on whether the EU will eventually sign up for the transatlantic deal.

The African Development Bank chooses its new president. Eight candidates are up for the job, and it’s a tight race. Under the outgoing president, Rwandan Donald Kaberuka, the bank became the continent’s main financial institution, instrumental in many development projects in Africa.

GameStop shows its cards. The world’s largest video game retailer is expected to report below average estimates, hurt by sluggish demand for the new Xbox and PlayStation 4 consoles and a changing market where mobile games are increasingly important. It is hoping to see some pick-up with the release of the new Mortal Kombat and Batman games.

Abercrombie & Fitch continues to tumble. The clothing company has been hurting for eight straight quarters, and is expected to report a fall in revenue once again. Customers have turned away from its logo-heavy apparel toward competitors. The company is also looking for a new CEO.

Other earnings: Avago Technologies, BanColombia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, Flower Foods, Splunk.

While you were sleeping

There were more revelations in FIFA’s fraud scandal. After 14 sports marketing executives and officials from soccer’s global governing body were arrested on allegations of widespread corruption, the US Department of Justice revealed details of what it called the World Cup of fraud. Attorney general Loretta Lynch said bribes made up as two-thirds of the cost of one tournament, and one third of another. The government is seeking more arrests.

Tony Blair said he will resign as Middle East envoy. The former UK prime minister will step down next month from his role as an envoy to the region for the so-called Quartet, a group working towards a resolution of the Israel-Palestine conflict. He has represented the bloc of the US, UN, EU and Russia since 2007, when he left Downing Street.

Eighty were killed in the deadliest airstrikes of the Yemen war. The bombings carried out by the Saudi-led coalition killed at least 40 people—civilians, according to a local who spoke with Reuters—near Saudi Arabia’s border and another 40 in the country’s capital, Sanaa. The coalition has been bombing the Iran-backed Houthi rebels since March 26. Iran’s foreign minister urged Saudi Arabia to end its campaign.

Amnesty International said Hamas killed and tortured Palestinians in Gaza. The human rights organization reports that Hamas forces committed serious abuses, including kidnapping, torture, and extra-judicial killings, during Israel’s 50-day offensive in the Gaza Strip in 2014. The victims were mostly accused of collaborating with Israel. The abuses have gone unpunished, Amnesty says.

The world’s hungry population dropped below 800 million. The UN’s Food and Agriculture Organization says the number of hungry people in the world has dropped by 216 million since 1990-1992. Much of the success has been in the developing world, where the percentage that’s undernourished has fallen from 23.3% to 12.9% over a quarter century.

Quartz obsession interlude

Shelly Banjo has proof that women are better investors from Betterment, a financial advisory firm. “Using data from its own customer base, the company found that female customers were more likely to stay the course and keep a long-term mindset than their male counterparts.” Read more here.

Matters of debate

Follow the money. FIFA sponsors are not without blame in the corruption scandal.

The British empire retreats… As its power diminishes, a new identity is formed.

…and it should take its cup of tea along with it. The beverage is a relic of the country’s colonial past.

Russia has a patriarchy problem. And it took a Chechen wedding to reveal it.

Quit it with the “processed foods” hysteria. They’re not all evil—even a bag of spinach is technically “processed.”

Surprising discoveries

Herpes can help kill cancer. It’s a more targeted approach than chemotherapy.

We have a new ancestor. Scientists discovered a new human species.

Now you can look up the meanings of “emoji,” and “WTF” in the dictionary. Merriam Webster added 1,700 new entries to its dictionary.

Facebook is the new tool for ambulance chasers. Law firms now use social media to find medical lawsuit plaintiffs.

Some people like to wear suits made of bees. A man in China beat the world record by covering himself in 1.1 million bees.

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