Good morning, Quartz readers!
What to watch for today
A tense NATO summit begins. The European Council president Donald Tusk has warned US president Donald Trump to “appreciate your allies” in Europe after Trump hinted he would play agitator at the meeting, which comes just days before he meets with Russian president Vladimir Putin.
Typhoon Maria heads to China and Taiwan. Destruction caused by heavy rains and mudslides racked up a growing number of dead, injured, and missing in Japan, forcing prime minister Shinzō Abe to postpone today’s EU-Japan summit until July 17 in Tokyo. Maria is expected to pass close to northern Taiwan this morning, and slam into China’s eastern coast tonight.
Moon Jae-in stops in Singapore. The South Korean president continues his journey through Southeast Asia to promote his “New Southern Policy,” following a visit to India. Moon has long had his eye on Singapore as a key component in his plan to step up economic and business cooperation in the region.
While you were sleeping
The final rescuers in the Thailand cave mission are safely removed. All 12 boys and their soccer coach were rescued, relatively unharmed, though some had to be carried in stretchers. With the emergence of the last three Thai Navy SEAL divers and one doctor, the operation was declared complete.
Tesla officially agreed to build a “gigafactory” in Shanghai. With the support of China’s government, the new factory will supposedly double Tesla’s global production capacity by manufacturing 500,000 vehicles per year. The deal comes just as Tesla prices began to rise due to the US-China trade war.
PepsiCo’s earnings exceeded expectations. The company’s fiscal second-quarter earnings beat analysts’ forecasts as its Frito-Lay snacks offset lagging beverage sales, which CEO Indra Nooyi plans to revive with increased advertising spending.
Morgan Stanley promoted two potential CEOs. In a move that narrows CEO James Gorman’s likely successors (paywall) to just two, the bank gave trading chief Ted Pick control over half the company’s revenue, while investment banker Franck Petitgas was put in charge of international business.
RAICES offered $20 million to reunite migrant families in the US. The Refugee and Immigrant Center for Education and Legal Services will present the US government enough “bond” money to get 2,500 immigrant mothers—the estimated number of children still separated from their parents—out of detention centers. The symbolic gesture highlights the US government’s failure to reunite families by its Tuesday deadline.
Quartz Obsession interlude
Natasha Frost on the tiny tool that holds it all together: “Sure, paper clips may not be flashy or glamorous, but they’re very good at the very specific thing that they do. It’s been well over 100 years since a patent was issued to William Middlebrook for a paper-clip-making machine—yet despite a century of innovation, this very early piece of stationery tech has proven virtually unimprovable.” Read more here.
Matters of debate
Flossing might as well be fun. A luxury floss brand illustrates the allure—and maybe even the health benefits—of aspirational consumption.
Being emotionally mature improves soccer skills. Empathy, positive thinking, and reframing emotions are just as important as physical prowess.
Alexa is destroying freedom of choice. Smart speakers don’t deliver on their promise to bring consumers more options.
Surprising discoveries
One third of caught seafood doesn’t get eaten. While fishing is becoming more sustainable, food waste is problematic.
The first interstellar object was finally identified. The speeding cosmic object named Oumuamua is a comet, not an asteroid.
NASA is partnering with “Peanuts.” Charlie Brown and Snoopy have been tasked with getting kids excited about space exploration and STEM again.
Trump’s got a present for “Rocket Man”. The president plans to give Kim Jong Un a signed CD of the Elton John song.
“Novichok” vodka is in bad taste. The 75% ABV liquor, named after the toxic nerve agent, was heavily criticized.
Our best wishes for a productive day. Please send any news, comments, extra seafood, and musical barbs 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 David Wexner and Aisha Hassan and edited by Susan Howson.