Good morning, Quartz readers!
What to watch for today
Mike Pompeo smooths feathers in South Korea. The secretary of state will try to explain to president Moon Jae-in’s government exactly what Donald Trump promised Kim Jong Un in Singapore. Seoul and the US military were reportedly caught unaware by Trump’s pledge to halt joint military exercises.
The Fed hikes interest rates. There’s a near-unanimous expectation of a higher benchmark rate from the Federal Reserve. The central bank’s policy statement could reveal its broader macroeconomic outlook and propensity for ending the current rate-hike cycle.
FIFA decides where to hold the 2026 World Cup. There are only two candidates: Morocco and a joint bid by the US, Mexico, and Canada. The previous vote in 2010, which set this year’s tournament in Russia and the 2022 event in Qatar, was beset by bribery and vote-rigging controversies.
While you were sleeping
ZTE’s market value plunged by $3 billion in early trading. The US slapped a supplier ban on the Chinese telecoms giant in April for breaking sanctions on Iran and North Korea; it has now agreed to pay up to $1.4 billion in penalties to get the ban lifted. The Senate will vote this week on legislation to block ZTE from resuming business with the US.
Toyota agreed to invest $1 billion in Grab. According to Singapore-based Grab, the investment in Southeast Asia’s biggest ride-hailing service is the largest ever by an auto maker in the sector.
A counterintelligence official warned of World Cup phone hacking. William Evanina, director of the US National Counterintelligence and Security Center, told Reuters that US travelers to the World Cup in Russia should avoid taking their mobiles and laptops, as they are likely to be hacked by criminals or the Russian government.
The founder of Guess quit over sexual assault claims. Paul Marciano is stepping down as executive chairman of the fashion brand, in the wake of allegations, including groping and kissing. Model Kate Upton tweeted in February that it was “disappointing” Guess was still “empowering” him as its creative director.
The IEA warned of a massive oil-supply gap. The International Energy Agency said the collapse of Venezuela’s oil industry coupled with the loss of Iranian oil after the US re-imposes sanctions could hurt global oil supply (paywall) and drive up prices next year.
Quartz Obsession interlude
Ana Campoy and Youyou Zhou on Hurricane Maria’s true death toll, according to Puerto Ricans. “Nearly nine months after Hurricane Maria slammed into Puerto Rico, nobody knows how many people died because of it. Estimates range from the government’s official toll of 64—broadly seen as a gross undercount—to Harvard University researchers’ 4,645, an extrapolation that some say is wildly inflated.” Read more here.
Matters of debate
Apple killed fun. Once a pioneer of colorful designs, the company is now a bastion of boring lines and cold elegance.
The World Cup is for citizens of the world. The tournament is the perfect manifestation (paywall) of how one can at once be a proud representative of a country while being utterly global.
The new rainbow flag is a design disaster. An attempt to appease every community seeking representation results in an inclusive, but mediocre product.
Surprising discoveries
Louboutin’s red soles are ripoff-proof. An EU court ruled the color scheme belongs exclusively to the French designer.
Einstein’s travel journals contain “shocking” xenophobia. The recently translated diaries from his 1922 trip to Asia reveal a racist attitude towards Chinese in particular.
Russians are being taught how to smile. Workers are training to be more welcoming to World Cup tourists.
A Chinese vase found in shoebox sold for €16.2million ($19 million.) The owners said they’d never really liked it, but had no idea it was a rarity from the Qing Dynasty.
Facebook knows exactly how many times you’ve stalked your ex. You can delete any search query you want, but it will take about six months to completely disappear.
Our best wishes for a productive day. Please send any news, comments, high heels, and smiling Russians 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.