Good morning, Quartz readers!
What to watch for today
Kobe Steel releases the results of its external probe. Japan’s third-largest steelmaker is accused of a string of scandals involving corporate governance, quality control, and data falsification. CEO Hiroya Kawasaki is rumored to be considering stepping down.
Australia’s central bank meets. The Reserve Bank of Australia is expected to keep interest rates unchanged at a record low 1.5%, even as other developed economies raise their benchmark rates.
The Falcon 9’s 50th take-off. The SpaceX rocket carrying a Hispasat communications satellite will lift off from Cape Canaveral, Florida, at 12:33 am local time (1:33 pm in Hong Kong).
While you were sleeping
Donald Trump hinted that new tariffs may be negotiable. The US president tweeted that the controversial steel and aluminum levies he’s threatened to impose may be lifted if NAFTA is renegotiated. House speaker Paul Ryan warned the White House to drop the plan due to fears of a trade war (paywall).
The US asked Qualcomm to delay its shareholder meeting. Regulators want to review whether a $117 billion takeover attempt by Singapore-based chipmaker Broadcom is a threat to US national security (paywall).
Trump’s brand was removed from a Panama hotel. The 70-story Trump International Hotel and Tower, the only Trump-branded hotel in Latin America, is no more (paywall), after a contentious battle by hotel’s majority owner to end management by the Trump Organization.
Amazon may begin offering financial services. According to the Wall Street Journal, Amazon has begun talks with banks including JPMorgan Chase and Capital One about providing a checking-account-like product (paywall) for younger customers and those without bank accounts.
Russia reportedly pressured Trump over his secretary of state pick. A New Yorker report details the allegation—found in a previously undisclosed memo by ex-MI6 spy Christopher Steele—that the Kremlin successfully lobbied Trump not to appoint Mitt Romney, a prominent Russia critic, to lead the US state department (paywall).
Quartz obsession interlude
Zheping Huang on what Xi Jinping wants with all that power: “Xi must accomplish the two centennial goals inherited from earlier leaders. The first involves building a ‘moderately prosperous society,’ wiping out poverty and reaching a per capita GDP of $10,000 by 2021, the 100th anniversary of the party’s founding, which is almost certain to be achieved. The second and more challenging goal is to turn China into a ‘fully developed nation’ by 2049, the 100th anniversary of the founding of the People’s Republic. If it succeeds, China’s economy would be triple the US’s.” Read more here.
Matters of debate
The US economy is one tunnel away from collapse. A decrepit link between New York and New Jersey directly affects 20% of GDP.
Silicon Valley is over. Bay Area tech investors think Rust Belt cities could form a tech hub (paywall).
The workplace drug test is heading for the trash heap. Faced with legalized marijuana and a tight job market, companies are relaxing (paywall) corporate drug policies.
Surprising discoveries
A British “Big Cheese” festival ran out of cheese. The festival that promised “a plethora of the finest international cheesemakers” is now offering refunds.
A cauliflower-picking robot is filling in for humans. GummiArm, a soft-handed robot, could make up for the shortage of human pickers.
The secret to Amazon logistics is embracing chaos. The company’s vast warehouses organize their inventories randomly.
Pets don’t make humans all that happy. Data show people, family, food, work, and exercise bring us more joy day-to-day.
Our best wishes for a productive day. Please send any news, comments, spare cheese, and pets to hi@qz.com. You can follow us on Twitter for updates throughout the day or download our apps for iPhone and Android. Today’s Daily Brief was written by Sangeeta Singh-Kurtz and Preeti Varathan and edited by Adam Pasick.