Good morning, Quartz readers!
What to watch for today and over the weekend
The world greets its most expensive soccer player. Superstar Neymar will appear today at a press conference at 7:30AM ET, after Paris St-Germain bought the Brazilian forward from Barcelona for a record-breaking €222 million ($261 million). The 25-year-old—who will now earn €865,000 per week—won seven major trophies in his four seasons at Barcelona. He makes his debut against Amiens at Parc des Princes on Saturday.
Rwanda goes to the polls. President Paul Kagame, seeking his third term, is expected to receive more than 90% of the vote after a change to the country’s constitution that waived a two-term limit. Amnesty International has warned of a “climate of fear” in Rwanda under Kagame’s authoritarian rule.
It’s US jobs day. Economists expect July’s employment report to add 183,000 jobs, with unemployment ticking down to 4.3%.
While you were sleeping
A Toyota-Mazda hookup promised US jobs. Japan’s most profitable company announced it was taking a 5% stake in Mazda, and the two will build a $1.6 billion US plant—estimated to create 4,000 jobs—and develop electric vehicle technology. Domestic demand for Toyota’s new models offset a slowdown in the US and net profit for the quarter surged 11% to $5.6 billion.
RBS eyed Amsterdam as its new European home. RBS wants to set up its trading base in the Netherlands after Britain exits the EU. The bank, which received a £45 billion ($59 billion) bailout during the financial crisis and hasn’t turned a profit since 2014, emerged from the doldrums in 2017’s first half. Today it posted a profit of £939 million for the six months ending in June.
Dubai’s Torch Tower caught fire—again. The flames spread rapidly through dozens of floors in the world’s 32nd tallest building, but authorities said no injuries were reported and the fire was put out. The blaze resembled the 2015 fire, which involved flammable panels. Similar cladding contributed to the deadly June at London’s Grenfell Tower.
UK car sales skidded into a ditch. Brexit uncertainty (paywall) is the fall guy for a 9% drop in new car registrations in July from the same time a year ago. That’s the fourth month of falling sales in a row. Meanwhile in the used car market, a surge in credit card borrowing and personal loans has driven up second-hand vehicle sales.
Donald Trump held a rally for his staunchest supporters. The president appeared to mock the Russian investigation to crowds at a West Virginia rally, saying, “Are there any Russians here?” News emerged earlier in the day that special counsel Robert Mueller was setting up a grand jury to examine evidence of collusion between Trump’s camp and the Kremlin during the 2016 presidential campaign.
Quartz obsession interlude
Isabella Steger and Soo Kyung Jung on the South Koreans gingerly embracing the “YOLO” lifestyle: “Korean youth experience the same bleak feelings about their futures as people in other countries… But pressure from families and society at large to succeed is particularly grueling in Korea, and young people are starting to push back against these strict conventions in a serious way—by staying single and seeking more ‘me’ time.” Read more here.
Matters of debate
Why do women bully each other at work? “Queen bee” behavior is more common when the deck is stacked against women.
Trump-Russia collusion is not off the table. Two former CIA agents say the evidence thus far is highly suspicious (paywall).
Swapping beef for beans could save the planet. It could get the US a long way toward meeting ambitious emissions targets.
Surprising discoveries
Cyberheist proceeds are being laundered at the baccarat table. A Chinese duo that stole a cool $81 million from Bangladesh’s central bank took their loot to a casino.
A potato cartel jacked up the price of US french fries. A collective of growers used drones and satellites to create “an OPEC of potatoes.”
Apple owns more T-bills than Mexico or the Netherlands. The company’s US Treasury holdings are worth $52.6 billion.
Researchers are using vibrators to determine the sex of turtles. The devices quickly create a visible reaction in males.
A cannabis startup wants to buy an entire California town. American Green, a self-described “seed-to-sale innovator,” thinks it can turn Nipton into a stoner’s paradise.
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