What to watch for today
Iran and the world inch toward a nuclear deal. The looming pact to ease economic sanctions on the oil-rich country could be announced as early as today. Iranian president Hassan Rouhani said there are only a “few steps” left before a deal is done.
US presidential hopeful Hillary Clinton talks economics. The front-runner for the Democratic presidential nomination outlines her economic plan for supporting “everyday Americans” as she looks to edge out her progressive rival, Vermont senator Bernie Sanders.
GM negotiates with its staff. The United Auto Workers union begins talks to set conditions for a new four-year contract between workers and the auto maker. GM is trying to keep costs low to compete with Japanese and Korean rivals.
Puerto Rico squares off with its creditors. The US territory meets creditors for the first time since governor Alejandro Garcia Padilla described the island’s $72 billion debt as ”unpayable.”
Over the weekend
Europe delivered a tough deal for Greece. European leaders demanded that the country pass several laws by Wednesday, including changes to VAT and pension payments, to qualify for more bailout funds. Greece must agree to the proposal today or face a “time out” from the euro zone.
Nintendo’s CEO died at 55. Satoru Iwata, also president of the Japanese gaming company since 2002, died on Saturday after suffering a bile duct growth. He oversaw the creation of two successful gaming consoles—the Nintendo DS and the Wii—and was greatly admired by fans.
China tried to crack down on margin lending… The securities regulator warned brokerages (paywall) not to trade with grey-market companies that lend money to investors, in an attempt to end the stock market’s speculation-fueled boom-and-bust cycle. Government intervention managed to prop up confidence in the market last week.
…And arrested dozens of human rights lawyers. More than 50 lawyers and activists were interrogated and detained in an organized crackdown, according to Amnesty International. The government has been increasingly concerned about human rights leaders using social media to organize and set agendas.
Novak Djokovic beat Roger Federer to win Wimbledon. The two tennis players, ranked number one and number two in the world respectively, have faced off 40 times, with each person winning 20 times, making it one of the most competitive and evenly matched rivalries in tennis history.
Donald Trump held an anti-immigration rally in Arizona. The US presidential candidate told an audience of thousands in Arizona that he would get the “bad ones” and ”get them out fast.” Trump has stoked controversy over immigration since he announced he is running for president.
Quartz obsession interlude
Hanna Kozlowska on the disturbing pipeline to prison for girls in the US that stems from sexual abuse. ”Some of the girls are victims of sexual trafficking. They get arrested for truancy or prostitution—at ages as young as 13—and instead of receiving support, they are placed in the juvenile justice system.” Read more here.
Matters of debate
Europe is surrendering its tradition of privacy. It is considering giving up data protection laws in the interests of corporations.
Celebrity activism doesn’t help the needy. It’s a branding exercise that can do more harm than good.
Greece should adopt the Chinese yuan. Going back to the drachma would be perilous, and China would appreciate the foothold into Europe.
An Iran nuclear deal will benefit oil consumers. Lifting sanctions on the country means even more supply.
2,500-year-old gold coils mystify Danish archeologists. Around 2,000 gold spirals were found in a field, but nobody knows what they were for.
Hiccups can’t be explained. We know what they are, but not how we get them.
Your memory can’t multitask. Scientists found that juggling several memories at once forces your brain to drop one.
This startup is getting attention for the wrong reason. ”Grexit,” launched in 2011, is an email software company.