Good morning, Quartz readers!
What to watch for today and over the weekend
France celebrates Bastille Day. This year’s military parade, which marks the 100th anniversary of America’s entry into WWI, will be led by US troops for the first time. US president Donald Trump’s attendance follows an amiable meeting with his French counterpart Emmanuel Macron in Paris, where Trump hinted at a possible renegotiation of the Paris climate accord.
China takes a bird’s-eye view of its financial system. Chinese leaders convene for two days in Beijing for the National Financial Work Conference, held every five years, to consider ways to improve the country’s complex financial system. On the agenda this year: handing regulation responsibilities over to China’s central bank.
The US reviews June economic activity. The commerce department releases June retail sales data—the struggling sector (paywall) is expected to grow only 0.1% after a 0.3% drop in May. Also due today: inflation data and industrial production figures.
While you were sleeping
The Trump administration prepared new sanctions on China. US officials said the White House could impose sanctions on small Chinese banks, shell companies, and other “low-hanging fruit” within two weeks, in retaliation for China’s failure to rein in North Korea.
Honda recalled 1.2 million vehicles. Engine compartments in Accords from the 2013 to 2016 model years can catch fire, the company said. The problem has cropped up in US states where winter roads are cleaned with salt, which corrodes and possibly shorts out inadequately sealed battery terminals. The recall follows Honda confirming this week the 11th customer death in the US tied to faulty Takata airbags.
Trump offered details on the proposed US-Mexico border wall. In his most definitive statements yet on the matter, the US president said the wall—a key campaign promise—could run for just 700 to 900 miles (1,448 km), and not the entire length of the border (about 2,000 miles). The wall, he added, should be see-through for security reasons.
Robot thriller Westworld scored 22 Emmy nominations. The sci-fi drama helped HBO rack up the highest number of nominations, at 111. Netflix followed with 91, nearly doubling last year’s nods. HBO’s Game of Thrones, which won best drama for the past two years, was ineligible due to a later start date. The awards will be presented by talk show host Stephen Colbert—also up for an Emmy—in September.
Quartz obsession interlude
Oliver Staley on “chiefiness” taking over the corporate world. “As the proliferation of chiefs spreads, the title has become less a position of authority, and more a reflection of a company’s current culture. To stress its pizzas are made with fresh ingredients, Papa John’s promoted a senior vice president to chief ingredient officer. Mars, the candy and food company, is making a push toward sustainability, so it named a chief agricultural officer.” Read more here.
Markets haiku
The pollyanna / Street. It finds only good news / Amid the chaos
Matters of debate
Universal basic income is bad for everyone except billionaires. It’ll help Silicon Valley sleep better, while compounding social inequality.
Nobody really believes in free-market health care. If they did, they’d be willing to forego saving some patients (paywall).
There’s a right and wrong kind of popularity. Likability, not status, is a more meaningful trait for people to pursue.
Surprising discoveries
Our perception of time is warped by the number of important events we remember. That’s why the Trump presidency already feels like a lifetime.
A Chicago library is seeking a witch translator. Volunteers are needed to help make sense of a mysterious 17th-century book of charms.
Some narcoleptics hallucinate their own death. A lesser-known aspect of the sleep disorder prevents sufferers from distinguishing between dreams and reality.
People miss almost 10% of their faces when they apply sunscreen. UV photos reveal that they’re especially lax around their eyes.
A Google search helped the US SEC nab an insider trader. He was allegedly looking for tips on “how sec detect unusual trade.”
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