Good morning, Quartz readers!
What to watch for today and over the weekend
The annual Shangri-La Dialogue brings together leaders from Asia and North America… Indian prime minister Narendra Modi, US defense secretary James Mattis, and top officials from Canada, Australia, China, and Indonesia will convene in Singapore. North Korea and its uncertain peace talks with the United States are expected to dominate the agenda.
…As a top North Korean official hand-delivers a message to Donald Trump. Kim Yong Chol, who just wrapped up meetings with Pompeo in New York (paywall), is due to meet with the US president in Washington as the prospects improve for revived talks .
US jobs day. Economists forecast a gain of 188,000 non-farm jobs in April, following an increase of 164,000 jobs in April. Despite fears of labor shortfalls, many expect the record-breaking streak of employment gains to continue.
While you were sleeping
The US launched a once unthinkable trade war against its closest allies. After months of threats, the US refused to renew exemptions on steel and aluminum imports from the EU, Mexico, and Canada. The allies immediately retaliated with tariffs on US goods (paywall).
Softbank invested $2.25 billion in GM’s self-driving car unit. The largest US automaker struck a deal to sell 20% of its Cruise Automation unit to the world’s largest tech fund, with a goal of launching a ride-hailing service and selling cars to consumers. Meanwhile, Alphabet’s Waymo unit expanded its Fiat Chrysler partnership with a plan to roll out some 62,000 autonomous Chrysler minivans.
A Goldman Sachs vice president was charged with insider trading. Woojae “Steve” Jung allegedly made $140,000 from illegal trades based on knowledge about several Goldman clients (paywall). He attempted to cover his tracks by opening a brokerage account in South Korea under a friend’s name.
Trump pardoned a conservative writer and hinted at pardons to come. Dinesh D’Souza pled guilty in 2014 to making illegal campaign contributions; Trump also told reporters he was considering pardons for former Illinois governor Rod Blagojevich and lifestyle maven Martha Stewart. All three were convicted by prosecutors who are among Trump’s biggest protagonists.
Two South Korean firms bought up $100 million in loans from Kushner Cos. The family real estate firm of Trump’s son-in-law and senior advisor sold the loans (paywall) on an apartment tower in Jersey City to Nonghyup Bank and trusts affiliated with IGIS Asset Management.
Quartz Obsession interlude
Zheping Huang on China’s nicknames for NBA players: “Stephen Curry: 萌神 (méng shén), or ‘Cute God,’ which echoes his English nickname ‘Baby-faced Assassin.’ Because of his relatively small size and youthful looks, fans also call him 小学生 (xiǎoxuéshēng), or ‘Primary School Student.’” Read more here.
Matters of debate
All schools need air conditioning. Higher temperatures lead to lower test scores, particularly for students of color.
“Freedom” is a gig economy myth. The employer’s algorithm is truly in control.
Stop calling white tank tops by that terrible name. Instead of trivializing domestic violence, say “wife lover” instead.
Surprising discoveries
A movie prop master was busted for possessing fake cash. The Hong Kong court ruled that the British pounds, US dollars, and Chinese yuan looked too realistic.
Cordyceps are even smarter than we thought. The insidious fungus tailors its zombie-ant strategy to work in different environments.
Vermont will pay people to work there remotely. New residents could get a $10,000 grant if their employer is out of state.
Officials busted a huge shark fin shipment on Singapore Airlines. Some 900 kg of fins—some from endangered species—were labeled “dry seafood.”
Glasses may indicate real smarts. Intelligent people are nearly 30% more likely to have genes associated with poor eyesight.
Our best wishes for a productive day. Please send any news, comments, cordyceps strategies, and IQ-enhancing specs 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 and edited by Susan Howson and Adam Pasick.