Good morning, Quartz readers!
What to watch for today
China hits North Korea with sanctions. Responding to US pressure, Beijing will implement a ban from today on several key North Korean products including coal, iron ore, and seafood as it complies with UN sanctions announced earlier this month.
India celebrates 70 years of independence. The usual pomp and circumstance will mark the event, with prime minister Narendra Modi giving a speech at Delhi’s Red Fort followed by a military parade. Amid a rising tide of Hindu nationalism, Islamic schools in Uttar Pradesh have been ordered to film their celebrations, with all students asked to recite a patriotic oath.
The US releases retail data. Economists predict a small increase (paywall) in July’s retail sales figures, a measure that has been volatile in recent months. Home Depot, one of the sturdiest retailers in America, will also report earnings to wary investors, following a string of lackluster earnings (paywall) by department stores last week.
While you were sleeping
North Korea is not going to nuke Guam, for now. North Korea’s state news agency said leader Kim Jong-un would hold off on any military action against Guam while he waits for signs that the US is willing to “ease tensions.” US defense secretary Jim Mattis said yesterday that a North Korean missile attack aimed at US territory “could escalate into war very quickly.”
More high-profile CEOs abandoned Trump. Under Armour boss Kevin Plank and Intel CEO Brian Krzanich both quit Trump’s manufacturing council in protest of the president’s response to the white nationalist rally in Charlottesville. Merck CEO Ken Frazier, who was the only person of color on the council, announced he was stepping down earlier on Monday.
The Brexit secretary defended Britain’s transitional trade plan. The UK has unveiled a proposal for a “temporary customs union” agreement to allow for a continuation of friction-free trade with the EU immediately following Brexit. David Davis said it was in the EU’s best interests, too, but EU officials aren’t so sure.
The German juggernaut is firing on all cylinders. The German economy grew robustly in the second quarter, powered by consumption and the construction industry. That’s good news for chancellor Angela Merkel, who hit the campaign trail this week with her “steady as she goes” message ahead of the Sept. 24 election.
Iran warned the US against further sanctions. President Hassan Rouhani said he would abandon the country’s nuclear agreement “within hours” should the US slap more sanctions on the country. Iran said recent sanctions breach the 2015 agreement in which the country would curtail nuclear work in return for fewer embargoes.
Quartz obsession interlude
Oliver Staley on how Mars’s secretive nature is becoming a talent problem. ”That secrecy served the company well in the cut-throat world of confectionery… (But it’s) a disadvantage for any company competing against employers in far more glamorous fields such as tech or finance, and an especially big hurdle for Mars as it embarks on the biggest workforce expansion of its 100-year history.” Read more here.
Matters of debate
Accountants are ruining the theater. Their increased influence in the world of drama stunts creativity and risk-taking (paywall).
There’s an art to comparing yourself to others. Doing it the wrong way can wreak psychological havoc, generate envy, and lead to depression.
Index funds are strangling the global economy. The diversified funds for thrifty investors might actually reduce competition.
Surprising discoveries
Researchers are growing mini-brains in petri dishes. “Cerebral organoids” are pea-sized blobs of neural cells could revolutionize our understanding of the brain.
Antarctica is riddled with hidden volcanoes. That’s cause for concern since an eruption would mean even faster melting of the ice caps.
Women prefer the body odor of men who eat lots of fruits and vegetables. A study found that men who ate more bread and pasta gave off a smell that was less appealing.
The inventor of the Slinky ran off to Bolivia to join a religious cult. His wife took over as president of the Pennsylvania company responsible for one of the most iconic American toys.
Vikings figured out how to freeze-dry fish 1,200 years ago. Norwegian cod may have appeared in Germany way earlier than scientists thought.
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