Good morning, Quartz readers!
What to watch for today
A top North Korean official lands in New York to revive peace talks. General Kim Yong Chol—the highest ranked North Korean to visit the US since 2000—will meet with US secretary of state Mike Pompeo. Preparations for a June 12 summit that was nominally cancelled by Trump are once again underway.
Martin Sorrell begins his comeback. The ousted CEO of ad giant WPP is expected to announce that he has taken over as executive chairman of Derriston Capital, a UK-listed shell company, and he will reportedly attempt to build a new marketing services company. Sorrell, forced to resign under mysterious circumstances six weeks ago, is still a major WPP shareholder.
Vietnam rules on the country’s biggest-ever fraud case. The Ho Chi Minh City People’s High Court will decide whether a VietinBank manager who stole 4.9 trillion dong ($215 million) is responsible for the theft, or if the bank itself should reimburse victims.
While you were sleeping
The US moved forward with 25% trade tariffs against China. Despite assurances from Treasury secretary Steven Mnuchin last week that a trade war was “on hold,” the Trump administration said it was advancing plans to tax unspecified Chinese products, including “industrial significant technology” and goods related to Beijing’s “Made in China 2025” plan.
Bayer finally won US approval for its $66 billion Monsanto acquisition. After two years of review, the German drug and chemical giant agreed to divest $9 billion in assets (paywall), including some seed and chemical units, due to competition concerns. The deal is expected to close ahead of a June 14 deadline.
Researchers released a staggering new estimate of Puerto Rico’s hurricane death toll. The official tally of people killed by Hurricane Maria is only 64, but a new study put the total at a minimum of 4,645—more than were killed by Hurricane Katrina or in the Sept. 11 attacks. Most of those killed were elderly and chronically ill Puerto Ricans who suffered from disruptions to health care and basic services after the storm.
Canada bought a troubled oil pipeline for C$4.5 billion (US$3.4 billion). Finance minister Bill Morneau said the acquisition of Kinder Morgan’s Trans Mountain pipeline and related infrastructure “was an investment in Canada’s future.” The project, which connects oil reserves in British Columbia to Alberta, is fiercely opposed by environmental groups and the BC provincial government.
ABC cancelled a hit sitcom after its star’s racists tweets. After Roseanne Barr likened former Obama advisor Valerie Jarrett to the offspring of the Muslim Brotherhood and Planet of the Apes, the Disney-owned network quickly pulled the plug on her rebooted TV show, Roseanne. Disney CEO Bob Iger publicly backed the decision.
Quartz Obsession interlude
Marc Bain on Balenciaga’s $1,290 t-shirt shirt: “You can wear the t-shirt on your body and have the other shirt droop bib-like down your chest, or you can slide into the button-up part and have the t-shirt draped on your back, like a very feeble cape … maybe it’s enough to know that Balenciaga’s artistic director, Demna Gvasalia, clearly enjoys toying with people’s notions of what fashion, luxury, and beauty should be.” Read more here.
Matters of debate
Democracy’s days are numbered. The 21st century could see an alternative form of government that’s more inclusive of fringe politics.
Belief is not a right. Asserting belief in the face of contradicting facts rejects the pursuit of truth.
Ethiopia is the China of Africa. The two ancient nation-states share (paywall) a grand vision for the future.
Surprising discoveries
Japan killed 120 pregnant whales for “research”. Gathering samples is a fishy business when you’re selling the whale meat.
The first cyberattack used the telegraph. Shady bankers wired false information to get a bond market advantage back in 1834.
A man fled Pompeii…only to be crushed. His skeleton was found pinned and decapitated by a stone block hurled skyward by the Vesuvius eruption.
Don’t roast marshmallows over lava. It’s insanely dangerous—even with a very long stick—and would taste terrible anyway.
A million French people quit smoking last year. An ad campaign caused a record-setting drop in cigarette smokers, to 12.2 million.
Our best wishes for a productive day. Please send any news, comments, Victorian hackers, and lava-free marshmallows 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 Adam Pasick and Susan Howson.