Nike’s numbers, Trump’s Supreme Court plans, reindeer rows

Good morning, Quartz readers!

What to watch for today

Banks get their exam results. The Federal Reserve reveals the findings from the final stage of its 2018 stress tests at 4.30pm (paywall). Investors want to know whether Goldman Sachs and Morgan Stanley can increase payouts to shareholders, while Deutsche could be the class dunce again.

Details of the Trump-Putin summit are announced. A time and place were agreed upon yesterday in Moscow, after national security adviser John Bolton met Russian president Vladimir Putin. It’s likely to happen in mid-July, when Trump is in Europe for a NATO meeting.

Nike steps up to the plate. After three disappointing quarters, investors are hopeful Nike’s fourth-quarter earnings show a positive turnaround in its core North American market. It’s expected to post a rise in quarterly revenue and profit thanks in part to the VaporMax and AirMax270.

Healthy results from Walgreen Boots? Its third-quarter results are expected to be positive, thanks to a robust retail-prescription market and the integration of Rite Aid stores into its operations.

While you were sleeping

Trump celebrated the departure of Supreme Court justice Anthony Kennedy. At a rally in North Dakota, he said he was “honored” the judge was stepping down, and that his retirement made “Senate control one of the vital issues of our time.” Trump, who appointed justice Neil Gorsuch in 2017, will now have the opportunity to fill a second Supreme Court seat.

A plane crashed in a busy part of Mumbai. Indian police said the chartered plane came down in the Ghatkopar district of the country’s financial capital around Thursday lunchtime. Fire officials told BBC Marathi that the dead included four people on the flight and one person on the ground.

Amazon unveiled a new delivery strategy. From today, anyone with a spare $10,000 can apply to deliver Amazon Prime packages in leased Amazon-branded vans. It’s part of the online retailer’s strategy to tackle that tricky “final mile” of delivery and eat into UPS and Fedex’s territory.

H&M had a disastrous 2018 so far. The world’s second-biggest fashion retailer said pre-tax profit plunged 22% in the first half of the year, as it struggled with too much inventory and flat sales (paywall). The Swedish company has had a hard time following Zara’s lead in terms of online shopping and getting styles quickly into stores.

China rejected US requests for leeway on how to refer to Taiwan. Beijing refused to budge on its insistence that airlines refer to Taiwan as a Chinese territory on their websites, despite pleas from Delta and United for more time to make the changes. The White House called it “Orwellian nonsense” in May, and sources told Reuters that this “has definitely become a foreign policy issue.”

Quartz Obsession interlude

Corinne Purtill and Dan Kopf on how happiness doesn’t change much in long-term marriages. “After a dip in the first decades when work and family obligations consume a couple’s time, the frequency of shared activities increased. By the fourth decade of marriage, couples reported spending as much time dining, socializing, and having fun together as they did when they were newlyweds.” Read more here.

Matters of debate

Amazon Prime isn’t worth it anymore. The program is getting pricier, and its “free” shipping encourages you to spend more.

Full-time work shouldn’t start until 40. Delaying employment and retirement would free up time for education and family early in life.

Philosophy is pointless. It doesn’t work towards a specific goal and always gives inconclusive answers.

Surprising discoveries

Norway and Sweden are having a row over reindeer. Norway is threatening to cull Swedish reindeer that wander across the border.

A Gmail plugin can help you stop apologizing. It highlights phrases like “I might be wrong” and gives you tips for writing stronger messages.

The world’s fattest hedgehog is slimming down. Arbuckle, who is four times heavier than his peers, is being put on a diet and exercise program.

Underground growers are leading the global cocaine resurgence. Crackdowns on coca farming prompted Colombian farmers to try more modern, less obvious methods.

Antarctic ice sheets are testing the Earth’s limits. A reading of -98º C (-144º F) is about as low as temperatures can go.

Our best wishes for a productive day. Please send any news, comments, blanket apologies, and obese hedgehogs to 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.