Quartz’s big news, Mexico’s new president, pointless pennies

Good morning, Quartz readers!

While you were sleeping, we announced some big news for Quartz: We have reached an agreement to be acquired by Uzabase, a publicly-listed Japanese media company with great success across Asia. We’re really excited about what it means for Quartz’s future and how we’ll serve you, our readers. Read more about the deal in our letter on QZ.com. —Kevin J. Delaney and Jay Lauf, co-presidents of Quartz.

What to watch for today

Angela Merkel battles to keep the government together. Unsatisfied with the migration agreement that the chancellor struck at the EU summit last week, interior minister Horst Seehofer yesterday threatened to resign. His resignation hangs on the outcome of his crisis meeting with Merkel later today.

Thyssenkrupp and Tata Steel explain their merger. On Saturday, the German and Indian steelmakers sealed the deal on their 50-50 joint venture. Their CEOs will take questions from the media today in Brussels. The new company will be Europe’s second-largest steelmaker after ArcelorMittal.

Protesters demonstrate against Walmart’s Flipkart acquisition. As many as 700,000 people will take to the streets in India to protest the deal.  Walmart announced its plan to buy the e-commerce major in May, leading to fears of predatory pricing.

The Dutch prime minister visits Donald Trump. Expect NATO and trade to be on the agenda when Mark Rutte visits the White House today.

Over the weekend

Mexico had a left-wing landslide.  Andrés Manuel López Obrador will become the first leader since 1929 who isn’t from one of the country’s two main parties. He’s vowed to put Trump “in his place,” but agrees that NAFTA should be renegotiated. He could also be the first president since 1997 to control Congress.

Canada retaliated against US tariffs. On Sunday, which was Canada Day, the country applied tariffs of 25% on US steel and 10% on a selection of 250 items, including ketchup, whiskey, and orange juice, in response to US tariffs. Mexico and China are expected to announce tariffs on US products this week.

Trump demanded cheaper oil. The president tweeted Saturday that he asked King Salman of Saudi Arabia to boost oil production by up to 2 million barrels, and that the monarch had agreed. The White House clarified that the Saudis have that much in spare capacity, not that they will raise output.

China backed a $15 billion tech fund to compete with Japan’s SoftBank. State-owned China Merchants Group teamed up with London investment firm Centricus, which helped structure SoftBank’s Vision Fund, to launch the China New Era Technology Fund. It will focus on Chinese tech companies, but also look at deals worldwide (paywall).

A notorious criminal escaped in an audacious French prison break. A manhunt is underway after Redoine Faid was sprung from prison in the town of Réau by a group of armed men, who hijacked a helicopter and made the pilot land in the jail’s courtyard. Faid was serving a 25-year sentence for a failed robbery in which a police officer was killed.

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 guide simply cannot understand the ethos that shapes the cuisine.

The US should ditch its coins. America lost $69 million last year by making pennies.

Surprising discoveries

The lobster boom is about to bust. A warming planet threatens to make the seas too hot (paywall) for the beloved crustacean.

The first person to really use email was obsessed. He lugged around a terminal weighing 30 lbs (14 kg).

Tesla is getting radical to hit its production deadlines. The company decided that some 300 spot welds that help hold the cars together were unnecessary and cut them from the process.

Google wants to dominate flip phones. It’s on a mission to get its Android software into Nokia handsets and other feature phones.

“No men allowed” is the rule at an exclusive island networking retreat. It costs $4,600 to attend the SuperShe gathering.

Our best wishes for a productive day. Please send any news, comments, feature phones, and Michelin-starred Chinese street food 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.