Good morning, Quartz readers!
What to watch for today
Iran pressures Europe to save the nuclear deal. President Hassan Rouhani will meet with Austrian leaders, following his visit to Switzerland on Monday and Tuesday, as he continues to seek an agreement that can survive US opposition. Germany, France, and the UK are also searching for a solution.
India cracks down on shell companies. The BSE will delist up to 222 companies and ban their directors from accessing the securities market for 10 years, in an attempt to limit the flow of illicit funds.
J Sainsbury reports earnings. Some believe distractions from corporate activities—among them buying the Walmart-owned Asda in April—are why it’s been the worst-performing (paywall) of the UK “big four” supermarkets of late.
US markets will be closed for the Independence Day holiday.
While you were sleeping
The Trump administration cleared ZTE to operate… The US Commerce Department granted the Chinese telecom giant a temporary license to resume business activities while it considers ending a seven-year ban, according to a document obtained by Bloomberg (paywall). Military leaders and Republican lawmakers have opposed the administration’s stance.
….As confusion swirled around a US chipmaker in China. In the latest installment of their intellectual property dispute, Taiwan’s United Microelectronics claimed that a Chinese court has barred Idaho-based Micron Technology from selling its chips (paywall) on the mainland. Micron’s shares plunged, though it says it hasn’t been served an injunction.
The ex-Malaysian PM was charged with corruption offenses. A court charged Najib Razak, arrested at his mansion yesterday, with one count of using his position for gratification and three counts of criminal breach of trust. Billions of dollars were allegedly embezzled from the 1MDB state fund while he was in power. He continues to deny wrongdoing.
Hong Kong’s LGBT community celebrated a legal victory. The city’s top court found that authorities erred in denying a lesbian expatriate a spousal visa, putting legally recognized gay couples on equal immigration footing with heterosexual ones. Banks and law firms also rejoiced, knowing the move will help them lure global talent.
Tesla stock plummeted on production fears. Shares fell 7.2%, their biggest decline since March, after an analyst questioned the quality and pace of the automaker’s jury-rigged Model 3 production line. According to Business Insider, CEO Elon Musk ordered employees to suspend a critical safety check to save time.
Quartz Obsession interlude
Chelsea Catlett and Akshat Rathi on the aquatic nightmare with super-powered blood. “Virtually anyone who’s received an injection has benefited from the horseshoe crab. But can we break our addiction to their blood so that this ancient creature can survive another eon?” Read more here.
Matters of debate
Penalty kicks carry too much weight in soccer. When low scoring is the norm, basing it all on one kick defeats the purpose of the game.
Asking an opinion is the only way to understand someone. Putting yourself in another person’s shoes only helps you see how you would react.
The #BoycottWalmart movement misses a crucial fact about Walmart. Like other companies, it doesn’t keep track of everything sold through its online marketplace.
Surprising discoveries
A British exam board was fined for confusing Capulets with Montagues. Regulators hit OCR with a penalty of £175,000 ($231,000) for mixing up Shakespeare’s feuding families.
Trump-shaped ecstasy pills are popping up. Indiana police discovered orange tablets that feature the US president’s face and the words “great again.”
Japan’s World Cup team left a spotless locker room and a note. The one-word message thanked the Russian hosts after the Samurai Blue were eliminated.
An app is busting Chinese deadbeats. A district court made music videos with offenders’ faces and posted them on the popular app Douyin.
A notorious Canadian killer wants you to swipe right. A Tinder-like service believes that if inmates can find love, they’ll reform more quickly.
Our best wishes for a productive day. Please send any news, comments, miffed Capulets, and lonely hearts 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 Steve Mollman and edited by Tripti Lahiri.