Good morning, Quartz readers!
What to watch for today and over the weekend
Kim Jong Un’s top aide hand-delivers a letter to Donald Trump. Kim Yong Chol, who met secretary of state Mike Pompeo in New York this week, will hand the president a letter from the North Korean leader. Preparations for the June 12 US-North Korea summit continue apace.
Sergio Marchionne’s swansong. The CEO of Fiat Chrysler, who saved the bankrupt US car brand by acquiring it in 2009, unveils his five-year plan for the company today. The car chief, who will retire next year, is betting big on Jeep SUVs to carry Fiat Chrysler forward.
The Spanish prime minister will likely lose his job. Spain teeters on the edge of political chaos as a vote of no confidence this afternoon is expected to go against Mariano Rajoy, over his connection to a major corruption scandal.
It’s US jobs day. Economists forecast a gain of 190,000 non-farm jobs in May, following an increase of 164,000 jobs in April, and the unemployment rate staying steady at 3.9%.
While you were sleeping
US allies vowed to hit back in Trump’s trade war. After the US refused to renew duty exemptions on steel and aluminum imports from the EU, Mexico, and Canada, the countries said they would reciprocate with tariffs on US goods. German economy minister Peter Altmaier said Friday that the EU may coordinate its response with Canada and Mexico.
S&P downgraded Deutsche Bank. The ratings agency lowered the German lender’s credit rating from “A-” to “BBB+” based on its large, risky restructuring plans; the bank is planning to cut more than 7,000 jobs soon. Deutsche’s new CEO Christian Sewing said in a note to staff today that he was ”sick and tired” of bad news.
Italy’s bond market made a roaring recovery. A failed attempt to form a new government caused bond prices to plunge earlier this week. But they’ve made a dramatic comeback (paywall) on the news that president Sergio Mattarella has approved a government made up of the Five Star Movement and the far-right League.
Samsonite’s CEO resigned after a short-seller attack. Ramesh Tainwala made a hasty exit, less than a week after a report slammed the luggage maker’s accounting practices, and said the boss padded his resume. The firm’s stock, which had plunged last week, shot back up 12% on the CEO’s resignation.
Quartz Obsession interlude
Juwon Park on apps that outsource academic fraud in South Korea. “While plagiarism and cheating are rocking higher education in many countries… fraud in South Korea’s academia permeates all levels. Professors have been caught ghostwriting for their students. A lecturer accused a full-time professor of making him ghostwrite his papers. Politicians have been busted for hiring ghostwriters for their dissertations, while the South Korean education ministry recently said it found that some professors had listed their children as co-authors.” 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 in control.
Country music is becoming more LGBT friendly. More young people in the US are listening to the genre, prompting artists and music executives to take a stronger stance on gay rights (paywall).
Surprising discoveries
Methane was found on Pluto. Evidence of methane dunes suggests that the icy dwarf-planet’s surface is more dynamic than originally thought.
People with big brains have a different brain structure too. Bigger brains lead to smaller areas involved in processing emotion, movement, and vision.
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 employers are out of state.
Debris from Hurricane Sandy washed up in France. A real-estate sign that went missing (paywall) from a New Jersey home in 2012 was found on a beach near Bordeaux.
Our best wishes for a productive day. Please send any news, comments, one-way tickets to Vermont, and nose pegs 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.