Good morning, Quartz readers!
What to watch for today
Massive protests are planned against Walmart’s Flipkart acquisition. As many as 700,000 people could take to the streets in India to protest the deal, according to trade body Confederation of All India Traders. Many smaller trade unions and farmers groups are expected to join in.
The third quarter begins. In an eventful last three months to June 30, tech stocks led the Nasdaq to an eighth straight quarter of gains, far outpacing those of other US stock indexes. The benchmark 10-year US Treasury bond yield reached 3% for the first time in seven years. But many emerging-market stocks, bonds, and currencies fell sharply on the back of a strengthening US dollar and global trade turmoil (paywall).
Wimbledon 2018 kicks off. The premier tennis tournament begins in West London with Roger Federer on Centre Court against Serbia’s Dusan Lajovic. Later in the day, Serena Williams faces low-ranked Dutch player Arantxa Rus in her first match back since giving birth.
Over the weekend
Mexico voted for a new president. Andrés Manuel López Obrador is expected to become the first leader not from its two main parties since 1929. The man known as AMLO has vowed to put Donald Trump “in his place,” yet agrees that NAFTA should be negotiated. The leftist could be the first president to control Congress since 1997.
The world’s most powerful woman is walking a thin line. German chancellor Angela Merkel seems unable to cinch a deal (paywall) within her own coalition government over illegal immigration. Reports suggest that her interior minister has offered to resign over a deal she agreed at the European level, putting the 70-year-old alliance between the Christian Social Union and Merkel’s Christian Democratic Union parties in jeopardy.
Canada retaliated against the US. On Sunday, which is Canada Day, the country applied tariffs of 25% on US steel products and of 10% on a selection of 250 items, including ketchup, whiskey, and orange juice, in response to US tariffs. More tariffs are coming on US products from Mexico and China this week.
Donald Trump demanded cheaper oil. The US president tweeted on Saturday that he asked King Salman of Saudi Arabia to increase oil production by 2 million barrels. “He has agreed!” Trump tweeted. The White House quickly clarified that meant the Saudis have have that much in spare capacity, not that they will raise output. Oil prices have been rising since Trump withdrew from the Iran nuclear accord.
An audacious prison heist took place in France. A group of armed men took a helicopter instructor hostage and ordered him to fly into the courtyard of a prison in the town of Réau, where they picked up notorious criminal Redoine Faid and flew away. He was serving a 25-year sentence for a failed robbery in which a police officer was killed. A manhunt is underway.
Quartz obsession interlude
Ashley Rodriguez on the biggest revolution in US movie-ticket prices in decades. “The shift to subscription services is part of a revolution that began more than a decade ago, as DVDs, on-demand video, and nascent streaming services like Netflix made it more convenient to watch movies at home than in theaters. Cinemas began searching for ways to make the moviegoing experience better than viewing at home.” Read more here.
Matters of debate
Television shows have better queer characters than movies. TV is cheaper to produce, so it’s easier to find niche audiences.
Michelin has no authority to rate Chinese street food. The system is simply out-of-step with the ethos that shapes the cuisine.
The US should ditch its coins. America lost $69 million last year by making pennies—and for what?
The lobster boom is about to bust. A warming planet threatens to make water too hot (paywall) for the beloved crustacean.
The first person to really use email was obsessed. He lugged around a 30-lb (13kg) terminal.
Tesla’s solution for making more cars is to remove parts. The company found 300 spot welds that help hold the cars together unnecessary.
Google wants to dominate flip phones. So it’s on a mission to get its Android software into Nokias and other feature phones.
A lot of Brits are giving up fish and chips for bratwursts. British people looking for EU stability are increasingly looking to get German citizenship.
“No men allowed” is the rule for this exclusive island networking retreat. Thing is, it costs $4,600 to get invited.
Our best wishes for a productive day. Please send any news, comments, feature phones, and Michelin-starred Chinese street food to email@example.com. You can follow us on Twitter for updates throughout the day. This Daily Brief was written by Chase Purdy and Kabir Chibber.
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