Good morning, Quartz readers!
What to watch for today and over the weekend
An update on euro zone inflation. European Central Bank president Mario Draghi says the improving economy will likely drive up prices as “deflationary forces have been replaced by reflationary ones.” Yet analysts expect the June inflation rate to drop to 1.2% from 1.4% in May.
Germany’s parliament votes on same-sex marriage. The move follows a reversal from chancellor Angela Merkel, who urged lawmakers to vote according to their conscience despite a long history of opposition by her Christian Democratic party.
Delivery Hero goes public. The Berlin-based company appears set to raise over $1 billion in its IPO today, giving Germany’s venture scene a much-needed victory. Delivery Hero connects diners with restaurants through its app and operates in 40-plus countries. Startup incubator Rocket Internet owns 35% of the firm.
While you were sleeping
The US blacklisted Chinese companies for their dealings with North Korea… Among those to be essentially cut off from the US financial system are a bank, a shipping company, and a few individuals. Treasury secretary Steve Mnuchin insisted the move was not aimed at punishing China itself. A former US intelligence agent called the sanctions ”extremely long overdue.”
…And approved a $1.4 billion arms sale to Taiwan. Despite the usual outrage from Beijing, the US State Department permitted deals involving torpedoes, missiles, and early-warning radar systems. It was the first such authorization under US president Donald Trump, and the first since a $1.8 billion package in 2015.
Three Tepco executives appeared in court in Tokyo. They face criminal charges for professional negligence after the 2011 Fukushima nuclear disaster, which killed more than 40 people. All three have pleaded not guilty. The trial will likely take more than a year.
China’s manufacturing sector expanded at the quickest pace in three months. The official manufacturing Purchasing Managers’ Index hit 51.7 in June. That was up from 51.2 in May and marked the 11th straight month of expansion.
Quartz obsession interlude
Nikhil Sonnad on the “wellness” products peddled to opposite ends of the political spectrum. “Many of the alternative-medicine ingredients in Gwyneth Paltrow’s Goop products are sold—with very different branding—on the Infowars store. That’s the site run by Alex Jones, the radio show host and conspiracy theorist.” Read more here.
Markets haiku
Tough medicine for / Rite Aid. Spit out by Walgreen’s / is a bitter pill
Matters of debate
India is better at protecting cows than women. A striking photo project questions the country’s priorities when it comes to religion and gender equality.
Can China save the US economy? While Donald Trump resists globalization, Chinese investors continue to pour billions into the American economy.
You don’t have to be a jerk to disrupt an industry. Steve Jobs may have succeeded despite his abrasive personality, not because of it.
Surprising discoveries
Male cockatoos flirt by playing dramatic drum solos. Scientists have captured footage of birds doing their best John Bonham impressions with sticks and seeds.
Dating apps can make you ugly. Rating people in advance makes them seem less attractive when you meet face-to-face.
Birds use cigarette butts as chemical weapons. Urban house finches use the pesticidal properties of nicotine to keep ticks and parasites out of their nests.
The World Bank is letting investors bet on pandemics. It issued $425 million in bonds that pay out less money if there are outbreaks of certain diseases.
The UK parliament is now business casual. The House of Commons voted to reform its centuries-old dress code—including making ties optional.
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