Good morning, Quartz readers!
What to watch for today
Greece reopens its banks. For the first time in three weeks, Greeks will be able to withdraw money, but they will still be limited to 420 euros a week at once (instead of 60 euros a day). A tax increase on restaurant food and public transport will also go into effect. German Chancellor Angela Merkel warned that the country must move fast on implementing the new bailout terms.
Cuba and the US officially resume diplomatic relations. Their embassies will reopen for the first time since 1961, marking a new era of engagement for the long-time rivals. But tourists need not fear that “old” Cuba will disappear anytime soon: It’s worth visiting for the bustling art scene, even more than the cigars and classic cars.
UK Prime Minister David Cameron hints that Britain will expand its role in the fight against ISIL. Cameron told the US TV network NBC that his country must do more to help destroy the Islamic State group in Syria. Britain has carried out strikes against ISIL in Iraq but has so far only flown surveillance missions in Syria.
PayPal will begin trading on the NASDAQ. The online payments company will use the same ticker it traded under before it was acquired by the online auction site eBay in 2002: PYPL. It split from eBay on July 17, and eBay shareholders will receive one share of PayPal common stock per eBay share.
This will be a big week for US earnings, with more than 100 S&P 500 companies reporting results. Among the companies reporting today are Morgan Stanley, Halliburton, Hasbro, and IBM. Monetary policy decisions are also expected this week from central banks in Turkey, South Africa, New Zealand, Hungary, and Nigeria.
Over the weekend
Donald Trump finally managed to alienate the Republican base. The presidential candidate, riding high in Republican primary polls after his criticism of Mexican immigrants, mocked Senator John McCain’s harrowing and brutal five-year stretch as a prisoner of war in Vietnam. “He’s not a war hero,” Trump said. His comments drew denunciation from his party’s leadership and his rivals for the nomination.
A car bomb killed at least 90 in Iraq. The suicide attack on Saturday by the Islamic State coincided with Eid ul-Fitr, the celebration of the end of Ramadan. At least 15 children died, and a busy market north of Baghdad was left a crater. Meanwhile, more than 400 suspects were arrested in Saudi Arabia in a crackdown on ISIL.
Racial clashes broke out in South Carolina. Five people were arrested as white supremacist and African-American groups held overlapping demonstrations outside the South Carolina State House, where the Confederate battle flag was removed last week. Amid the violence, however, a moment of humanity stood out.
An Australian surfer fought off a shark during a surfing competition. Mick Fanning was uninjured after being knocked off his board during the J-Bay competition in South Africa Sunday. He and another competitor who came to his aid were quickly picked up by officials, and the competition was suspended.
An independent challenger to Hillary Clinton gathered steam. Senator Bernie Sanders, an independent from Vermont, continues to draw crowds that his rival presidential candidates from either party would envy. At a Saturday rally in Phoenix, Arizona, he drew more than 11,000 people to hear him speak on income inequality, money in politics, and climate change.
Bill Cosby described his sexual pursuit of young women, and paying them large sums. In a 2005 deposition the New York Times unearthed (paywall), the comedian, who has been accused by dozens of women of drugging and sexual assault, displayed a cavalier attitude to what he described as sexual conquests of younger women who saw him as a mentor. Cosby was interviewed for a lawsuit by brought an aspiring model, which he settled in 2006.
Quartz obsession interlude
Thu-Huong Ha on how America’s funniest women are getting raunchier while its funniest men are getting soft. “Comedy would be nothing without transgression, but who is allowed to make these violations is finally shifting. As women comics continue to enter the mainstream, there’s a new market for boundary-pushing jokes that can appeal to both genders, and increasingly it’s women who can do them well.” Read more here.
Matters of debate
Black Americans may be dying faster because they sleep less. The missing link to explain the health and mortality gap between black and white Americans could be as simple as sleep.
Capitalism is over. Technology has ushered in a postcapitalist era characterized by free time, collaborative networks, and endless information.
Rome is on the verge of collapse. A weak economy, crippling corruption, and neglect have left its monuments and public services in ruin.
Kids can’t be anything they want. Telling them they can be only sets them up to become dissatisfied adults.
Surprising discoveries
The Soviet military mapped the entire world in Google-like detail. Some of the millions of maps they created during the Cold War show features, such as individual streets and buildings, that would be useful for planning an invasion.
Amateur “hobby drones” hindered efforts to fight a California wildfire that engulfed a Los Angeles freeway. Five unmanned crafts, presumably trying to photograph or film the apocalypse-like scene, delayed firefighters’ helicopters with water buckets for up to 20 minutes.
Your phone can tell if you’re depressed. Researchers accurately predicted whether subjects showed symptoms of depression 86% of the time, just by analyzing their phone data.
Pluto’s icy heart is broken. High-resolution photos of the heart-shaped area known as the Tombaugh Region show a cold, rough surface of irregularly-shaped segments.
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