Good morning, Quartz readers!
What to watch for today
The Bank of England meets. The UK’s central bank is expected to leave interest rates at 0.5%, a surprise move from two weeks back (paywall) when markets saw a much higher probability of an increase to 0.75%.
US economic data is released. The US consumer price index is expected to show a slight increase of 0.3% in April, after a downturn in March caused by a drop in gasoline prices (paywall).
Argentina discusses a loan with the IMF. Economy minister Nicolas Dujovne is due to meet with International Monetary Fund head Christine Lagarde in Washington to discuss a financial aid package, as the country undergoes a bout of market turbulence that has rocked its currency, stocks, and bonds. The country paid off its debt to the IMF in 2006 and cut ties with the institution.
While you were sleeping
Malaysia’s opposition party won a shocking victory. The nation’s 92-year-old former leader, Mahathir Mohamad, led a coalition of opposition parties to win a majority of parliamentary seats, ousting prime minister Najib Razak and ending the Barisan Nasional coalition’s 60-year grip on power.
North Korea released three US prisoners. The men, who will return to the US with secretary of state Mike Pompeo on Thursday (paywall), were allegedly detained for “hostile acts” toward Pyongyang. The move is a diplomatic sweetener ahead of North Korea’s meeting with Donald Trump, who will be meeting the three men later today.
The Chinese tycoon who bought the Waldorf Astoria is going to prison. Wu Xiaohui, former chairman of insurance group Anbang, was sentenced to 18 years in prison and fined $1.65 billion by a Chinese court for fraud and abuse of power. China’s insurance regulator seized control of the conglomerate in February.
Iran launched an attack on Israeli-controlled territory. Iranian forces in Syria fired about 20 rockets (paywall) into the Golan Heights, according to the Israeli military. If confirmed, it would be the first direct attack by Iran against Israel. Israel launched missiles into Syria in retaliation.
Trump’s CIA director nominee faced a tough Senate hearing. Gina Haspel answered questions about her controversial role in the agency’s interrogation program and the destruction of tapes. She needs votes from both parties to be confirmed, but her promise to “never, ever take CIA back to an interrogation program” may have swayed members on both sides of the aisle.
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Matters of debate
New language policies show how far Taiwan has come since Chinese rule. Making indigenous Taiwanese a national language honors a pluralistic society.
The market is clinging to LIBOR. The unsecured rate that banks charge each other is supposed to be dying out, but customers and investors might be smart to keep using it (paywall).
The high seas should be closed to fishing. Managing fishing rights in exclusive economic zones will help rebuild fish stocks, and help underdeveloped coastal nations that rely on fishing.
Surprising discoveries
Bears can’t just go out for ice cream. A Canadian zoo is being fined for taking a bear to Dairy Queen, and then posting it to social media.
South Korea is cracking down on walking-and-texting. It’s developing a program that locks people’s devices after detecting that they’ve been walking for more than five steps while using their phones.
Dr. Dre lost a trademark battle with a gynecologist. The rap legend argued that Dr. Drai would cause confusion among fans, but the judge ruled in favor of the actual doctor.
Scotland’s favorite drink is banned from Trump’s golf course. Irn-Bru, the bright orange fizzy drink, won’t be served anymore at Turnberry as staff fear spillage would stain carpets.
The oldest virus ever found is an STI. Researchers stumbled across fragments of DNA from hepatitis B dating back nearly 4,500 years.
Our best wishes for a productive day. Please send any news, comments, ancient viruses, and bear photos 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 Isabella Steger and edited by Alice Truong.