Good morning, Quartz readers!
What to watch for today
South Korea’s president visits the White House. Moon Jae-in will meet with Donald Trump to discuss North Korea’s predictably unpredictable about-face, which sparked concern that Pyongyang might cancel an upcoming summit.
The European parliament takes a turn grilling Mark Zuckerberg. The Facebook CEO’s meeting with MEPs, focused on the company’s Cambridge Analytica scandal and its impact on 2.7 million EU citizens, will be live-streamed at 6:15 pm Brussels time (12:15 am in Hong Kong).
Shell’s annual general meeting. The Anglo-Dutch oil giant will face its shareholders in The Hague. The company is facing pressure from activist investors pushing for oil companies to reduce their carbon footprints.
While you were sleeping
The US supreme court ruled that employers can force workers into arbitration. The court, by a 5-4 margin, said a 1925 law justified “take-it-or-leave-it” contracts that banned class-action lawsuits by workers. The ruling could affect the cases of employees who experience workplace discrimination and sexual harassment.
Tesla surged on news of a premium Model 3. The automaker’s shares rose by as much as 4% after it said the supposedly mid-priced car, which starts at $35,000, could be configured in a luxury package for up to $78,000. Meanwhile, Consumer Reports gave the Model 3 a thumbs-down after its braking system failed to meet basic standards, and criticized its complicated user interface.
The Obamas scored a production deal with Netflix. The former US president and first lady signed a multi-year contract to create a slew of programs for the streaming video giant, “potentially including scripted series, unscripted series, docu-series, documentaries and features.” The first programs will land in 2019, and are not expected to be about politics; terms were not disclosed.
GE offloaded its railroad business. The conglomerate agreed to merge its struggling rail division with the transportation firm Wabtec (paywall) in a big move by new GE chief John Flannery to shed struggling businesses. GE will get $2.9 billion in cash, and its shareholders will own 40% of the combined firm.w
Political novice Giuseppe Conte became Italy’s prime minister-delegate. The little-known lawyer and academic was nominated by the populist Five Star Movement and Northern League, who are uneasy coalition partners. Conte, who has never been elected to parliament, still must be approved by Italian president Sergio Mattarella.
Quartz Obsession interlude
Katherine Ellen Foley on why the pharmaceutical industry isn’t searching for an Alzheimer’s cure. “In theory, the best way to treat Alzheimer’s disease would be to stop the brain-cell destruction before it starts. The problem is that during the earliest stages of Alzheimer’s, people have no way of knowing that anything is wrong. For all their capabilities, our brains don’t feel anything … when cognitive symptoms do show up, it’s too late.” Read more here.
Matters of debate
Ignoring older workers is scarier than job-killing robots. Mobilizing and deploying older employees is a crucial competitive advantage.
There is really only one Trump scandal. The White House’s endless controversies have a common thread: The corruption of government for personal gain.
Passports don’t grant freedom—they curtail it. Travel documents are symbols of governmental power to limit mobility.
Surprising discoveries
Recharging electric scooters is a cutthroat business. Companies like Bird have effectively created a lucrative scavenger hunt.
Octopuses may be from another planet. The creature’s more bizarre features can’t be found in its ancestors.
American’s CEO won’t admit whether he’s flown economy. That isn’t sitting well with passengers who are forced to squeeze into the airline’s newly downsized seats.
Bernie Madoff deserves some credit for Amazon’s creation. Jeff Bezos left a New York hedge fund because he was tired of competing with the Ponzi schemer.
Maine fishermen are selling baby eels for $2,400 a pound ($1,000/kg). The record prices reflect surging demand in Asia, where the eels are used as feedstock.
Our best wishes for a productive day. Please send any news, comments, baby eels, and alien octopuses 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.