Good morning, Quartz readers!
What to watch for today
The Fed releases minutes from its May meeting. The central bank’s notes will be examined for hints of how many rate hikes can be expected this year. It left interest rates left unchanged this month.
Japan and China call on Donald Trump. Chinese foreign minister Wang Yi and his Japanese counterpart Taro Kono will visit the White House to discuss the US-North Korea summit. During his meeting with South Korean president Moon Jae-in yesterday, Trump said the summit could be delayed.
Target, Ralph Lauren, and Tiffany deliver first-quarter reports. Analysts expect a profit bump at Target, thanks to increased US consumer spending, but the opposite is expected at Ralph Lauren. Tiffany’s cheaper jewelery range may have added some sparkle to its quarterly sales.
While you were sleeping
The US moved one step closer to electing its first black female governor. Stacey Abrams made history after she won the Democratic primary for governor in Georgia. If she pulls off a victory in November, the former state House minority leader could become the first female governor in Georgia, the first black governor of the state, and the first black woman elected governor in the US.
Barclays is reportedly mulling a merger. According to the Financial Times, a merger with Standard Chartered (paywall) is one option on the table for the British bank. Barclays and StanChart declined to comment, and a source later told Reuters that Barclays wasn’t looking into a merger.
Philip Roth died. The author of The Plot Against America and American Pastoral, who frequently chronicled Jewish American life in his novels, died at the age of 85. Roth, who retired from writing in 2012, was a vocal critic of Trump.
SoftBank is offloading its Flipkart stake to Walmart. Walmart is reportedly buying its 20% stake in the Indian e-commerce company—the first-known divestment by the Japanese tech giant’s Vision Fund. SoftBank didn’t say why it was bailing on FlipKart.
Euro zone growth hit a one-and-a-half year low. IHS Markit data showed that the activity and orders across euro zone companies slowed sharply in May, with Germany and France hardest hit. A Markit spokesperson said some of it was down to May being full of bank holidays in Europe.
Quartz Obsession interlude
Sarah Todd on the most beautiful corn in world. “The rise of industrial agriculture has made the world’s crops increasingly homogenous, which poses risks of everything from food shortages to economic crashes. And so glass gem corn is more than just a sexy social-media star—it’s a way to get people interested in the myriad benefits of cultivating diverse crops.” Read more here.
Matters of debate
Incels should blame the economy, not women. A tough job market and rising real estate costs means more men and women are living with their parents and getting married later.
Watching experts gives people confidence they don’t deserve. You can’t do what they do without years of practice.
The UK’s largest clothing store’s troubles reflect the health of the entire sector. Bellwether retailer Marks & Spencer’s latest results suggest bricks-and-mortar stores are nearly dead.
Surprising discoveries
A sinkhole opened on the White House lawn. Washington’s swampy origins and a phenomenon called “forebulge collapse” are to blame.
A Ponzi scheme has nearly wiped out China’s giant salamanders. A misguided attempt to encourage farming led to the species’ devastation.
Eight years ago, someone bought two pizzas with 10,000 bitcoins. At current prices, that works out to about $4 million a slice.
Huge predatory worms from Asia are invading France. The giant exotic hammerheads can grow up to 10 inches long, and appear to reproduce asexually.
Starbucks is beating Apple and Google in mobile payments. More than 23.4 million customers use the Starbucks app at least once every six months.
Our best wishes for a productive day. Please send any news, comments, pizza regrets, and early birds 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 Jill Petzinger and edited by Lianna Brinded.