Good morning, Quartz readers!
What to watch for today
The European Parliament takes a turn at grilling Mark Zuckerberg. The Facebook CEO’s meeting with MEPs, focused on the company’s Cambridge Analytica scandal and its impact on up to 2.7 million EU citizens, will be live-streamed at 6:15pm Brussels time.
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 the June 12 summit in Singapore.
Shell’s annual general meeting. The Anglo-Dutch oil giant will face its shareholders in The Hague. The company is under pressure from activist investors pushing for oil companies to reduce their carbon footprints.
While you were sleeping
Sony said it will buy out EMI Music Publishing. The Japanese giant wants to boost its music portfolio, and the record label has some 2 million songs by the likes of Queen, Alicia Keys, and Pharrell Williams. Sony will get a controlling stake for about $2.3 billion (paywall). CEO Kenichiro Yoshida noted “the music business has enjoyed a resurgence.”
Najib Razak faced questions by an anti-corruption commission. The former Malaysian prime minister, defeated in this month’s landmark elections, was ordered to explain a suspicious transfer of over $10 million into his bank account—just a fraction of the billions allegedly siphoned from state fund 1MDB during his years in power.
Netflix signed a production deal with the Obamas. The former US president and first lady will create programs for the streaming-video giant, “potentially including scripted series, unscripted series, docu-series, documentaries and features.” The first will land in 2019, and are not expected to be about politics; terms were not disclosed.
An Australian court convicted an archbishop for concealing child sex abuse. Philip Wilson, the archbishop of Adelaide, faces a maximum penalty of two years in jail. The offense dates back to the 1970s, when a teenager told Wilson he’d been abused by another priest, James Fletcher, who was found guilty in 2004 of nine counts of child sexual abuse.
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 more worrisome 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.
American’s CEO won’t admit if he’s flown economy. That isn’t sitting well with passengers who are forced to squeeze into the airline’s newly downsized seats.
Hermès Birkin bags are a better investment than gold. Over the past 37 years they’ve outperformed both the precious metal and the S&P 500 stock index.
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, and low harvests elsewhere in the world.
Our best wishes for a productive day. Please send any news, comments, airline upgrades, and used Birkin bags 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 Steve Mollman and edited by Devjyot Ghoshal.