What to watch for today
The European Commission reports on Turkey’s progress in the migration deal. Turkey wants visa-free access to the EU for its citizens, which the bloc offered in return for Turkey taking back migrants entering Greece—and meeting over 70 conditions. The commission will likely recommend granting the access, though EU member states and the European Parliament would still need to back it.
Tesla reports its quarterly results. The electric-car maker is expected to post a loss, but sales could jump as much as 50%. Deliveries have been lagging this year due to a parts shortage for the Model X. Investors want to learn more about the company’s plans to be profitable by year’s end and increase production of its new Model 3.
Takata announces a massive recall. Under pressure from US regulators, the Japanese air bag manufacturer is expected to announce that it will recall an additional 35 million to 40 million inflators in US vehicles. That will add to what is already the biggest auto safety recall in US history.
While you were sleeping
Donald Trump will be the GOP candidate. His landslide victory in Indiana means he is now the presumptive Republican nominee for US president. His rival Ted Cruz left the race, and some prominent Republicans left the party. On the Democratic side Bernie Sanders won the state, but with Hillary Clinton’s commanding lead it was too little, too late.
Banks agreed to settle a rate-rigging lawsuit for $324 million. Seven of the world’s largest banks—including Barclays, Deutsche Bank, and Credit Suisse—faced allegations in a private US lawsuit that they conspired to rig a key benchmark rate for their own gain. Several pension funds and municipalities were behind the lawsuit.
A US Navy SEAL died in Iraq. He was hit by “direct fire” when ISIL militants overran Kurdish peshmerga forces in northern Iraq. The elite soldier was identified as Charlie Keating IV, the grandson of Charles Keating, an infamous banker who came to symbolize America’s savings and loan crisis of the 1980s.
Brazil’s president faced a new threat… The country’s top prosecutor requested that Dilma Rousseff be investigated for attempting to obstruct a corruption investigation involving state-run oil firm Petrobras. Rousseff is likely to be suspended from office on unrelated charges of breaking budgetary laws.
…While an appeals court lifted the nation’s WhatsApp ban. A lower court’s decision to suspend the messaging service for 72 hours was overturned by another judge, following an appeal from WhatsApp’s lawyers. The Facebook-owned messaging service has some 100 million users in Brazil, where the government is fighting to access encrypted data.
Quartz markets haiku
Still slowing, China
wants economists to focus
on the bright side—hmmmm.
Quartz obsession interlude
Jason Karaian on a new role model for corporate leaders. “If you haven’t heard of Claudio Ranieri, or appreciate what he achieved in his first season in charge of English soccer club Leicester City, it’s time to familiarize yourself… The 64-year-old Italian coached the 5,000-to-1 underdogs to the unlikeliest of championships in the Premier League this season, with a backstory and style perfectly pitched to the modern management zeitgeist.” Read more here.
Matters of debate
Today’s chatbots are heartless. They get things done—but the chatbots of yesterday were designed to have pleasant conversations while offering useful information.
The US has never been more ripe for tyranny. America’s expanding democracy made Donald Trump’s rise possible.
Replays have ruined watching sports. Computers are used to double-check referees’ calls, but they’ve just bred anxiety among fans.
A high-schooler grew hundreds of “mini-brains” for scientific research. He did it with a device he 3D-printed.
Entrepreneurs want to build Brazil’s first erotic theme park. But local officials are afraid it will attract “debauched individuals.”
Flying coach is bad for your mood. Passengers are more likely to fight on planes if they have to walk past first class.
It’s a logistical nightmare to remove a whale from a beach. It’s so brutal that children must be evacuated from the premises.
Scientists may have found a cure for traumatic memories. A pill commonly prescribed to treat heart disease may help patients overcome their fears.
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