Good morning, Quartz readers!
What to watch for today
Donald Trump heads to South Korea. The next leg of the US president’s Asia trip takes him to Seoul, where he will meet with president Moon Jae-In after delivering a speech to the nation’s legislature. North Korea’s nuclear program will top the agenda; despite flirting with the idea, Trump will not be visiting the demilitarized zone between North and South Korea.
Shinzo Abe announces new North Korea sanctions. Japan’s prime minister plans to freeze the assets of 35 North Korean groups (paywall) in response to the nation’s escalating nuclear program.
Nissan resumes production in Japan. The carmaker suspended domestic production and recalled 1.2 million vehicles last month after discovering that safety inspections had been carried out by uncertified technicians for decades.
While you were sleeping
Broadcom made an unsolicited $103 billion bid for Qualcomm. A successful takeover would combine two of the world’s major chipmakers in the largest deal the tech industry has ever seen. Qualcomm is reviewing the proposal, but is leaning towards rejecting it due to price and antitrust concerns, Reuters reported.
21st Century Fox is reportedly in talks to sell its studio to Disney. Rupert Murdoch’s media company is considering selling off its Hollywood properties to focus on news and sports, according to CNBC. Fox News and the Fox broadcast channel would not be part of the deal, though the status of Murdoch’s large European business—including a major stake in satellite broadcaster Sky—is unknown.
New information about the Texas shooting surfaced. Devin Patrick Kelley’s mother-in-law, who attends the church he allegedly attacked, received threatening texts from the 26-year-old shooter, leading police to believe he may have been targeting her church. Kelly is accused of killing 26 people in the deadliest mass murder in Texas history.
Saudi Arabia’s anti-corruption crackdown intensified. The kingdom arrested top businessmen Nasser bin Aqeel al-Tayyar, the latest of a series of detentions of Saudi princes and business elites by crown prince Mohammed bin Salman. Many detainees—collectively worth $33 billion—are being held in the lavish Ritz-Carlton Hotel in Riyadh.
The Paradise Papers leaked details about Apple. According to documents obtained by reporters, Apple secretly began funneling part of its international revenue to the island of Jersey, a UK crown dependency with a 0% corporate-tax rate for foreign companies. The move—which included a detailed questionnaire for potential tax havens—came after the EU began cracking down on Apple’s arrangement with Ireland.
Quartz obsession interlude
Allison Schrager, Christopher Groskopf, and Scott Cunningham on how the internet changed prositution. “Classical economics often assumes transparent pricing and a market where buyers and sellers can easily find each other. Needless to say, this did not apply for illicit sex work. The internet has enhanced transparency and made it easier to match buyers with sellers. In many ways, it makes some women safer and better off, though it also comes with a dark side.” Read more here.
Matters of debate
Activist investors make corporate boards less diverse. With a stated aim of lifting the bottom line, they’re less likely to appoint women or minorities.
Trump left Japan empty-handed. Abe didn’t give the US president any of the trade concessions he was seeking.
Successful startup founders quickly hire businesspeople. Technical skills are required to get a company off the ground, but they’re not enough to sustain growth.
Surprising discoveries
A US woman was fired for flipping off Trump’s motorcade. Government contractor Akima dismissed Juli Briskman for violating its social-media policy with her new profile photo.
Some iPhone X users can’t type “I.” The $999 smartphone’s buggy predictive-text keyboard is replacing the letter with an exclamation mark and a mystery character.
Ford is making a trucker cap that can save lives. The SafeCap monitors movements associated with sleepiness and alerts dozing drivers.
T. Rex’s tiny arms were vicious weapons. While scientists have long debated their use, new research suggests that the Tyrannosaurus’ forelimbs, armed with four-inch claws, slashed prey.
Amazon is paying for extra discounts out of its own pockets. The lowered prices are designed to undercut competitors, but may run afoul of merchants’ pricing policies.
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