Good morning, Quartz readers!
What to watch for today
Paul Manafort goes on trial. Donald Trump’s former campaign manager is the first major figure to face a jury (paywall) in special counsel Robert Mueller’s investigation. He is charged with bank and tax fraud pertaining to his lobbying work in Ukraine, prior to the campaign.
Apple updates investors on the iPhone’s staying power. The company’s fiscal third-quarter results tend to be sleepy, but investors will watch closely for any indication about upcoming smartphone releases, which typically happen in September. Analysts expect the Apple Watch and audio accessories to perform strongly (paywall).
Pfizer reports its second-quarter earnings. Investors will look for comments on the drugmaker’s consumer health unit, which it had been trying to sell. Earlier this month the company postponed price hikes on its medicines after being criticized by the Trump administration.
While you were sleeping
Britain’s car industry warned a no-deal Brexit is “not an option.” It’s increasingly worried about the uncertainty around how Britain will exit from the EU, cautioned a key trade body calling for continued membership in the single market and the customs union. Car exporters could face damaging EU import tariffs should the UK leave the bloc without a deal.
Fresh activity was detected at a North Korea missile plant. Work on new missiles is underway at a site outside Pyongyang, according to the Washington Post, citing unnamed US officials familiar with intelligence reports. The same facility, in Sanumdong, previously produced intercontinental ballistic missiles capable of reaching anywhere in the US.
The Bank of Japan kept its monetary policy steady. It decided inflation remains too far below target to justify any major shifts. But the central bank said it will add more flexibility around its practice of fixing the yield on the 10-year government bond.
Vivendi is cashing out of the music business. Capitalizing on strong streaming revenue, the French media conglomerate is selling up to half of Universal Music Group, which is valued at about $24 billion. The company aims to sell to one or more “strategic partners” instead of taking the subsidiary public.
CBS kept Les Moonves on the job. The media firm said it would hire an outside law firm to investigate allegations that the longtime CEO sexually harassed various women. CBS shares fell 5% in the first day of trading since the New Yorker published an exposé (paywall) describing the allegations.
Quartz Obsession interlude
Nikhil Sonnad on the banal evil of Facebook. “The imperative to ‘connect people’ lacks the one ingredient essential for being a good citizen: Treating individual human beings as sacrosanct. To Facebook, the world is not made up of individuals, but of connections between them… There are certain things you do not in good conscience do to humans. To data, you can do whatever you like.” Read more here.
Matters of debate
Today’s young billionaires are boring. Their foundational stories lack character-building hardship.
The secret to a good vacation starts the day before. Transition days help you fully unplug.
Water on Mars is a double-edged sword. The invaluable resource could enable human exploration, but accessing it could compromise alien life-forms.
Surprising discoveries
Schools in India are offering happiness classes. Courses in meditation and personal well-being aim to bolster mental health.
A McDonald’s worker stole millions by cheating at Monopoly. The employee rigged the company’s promotional game.
Banks are targeting rich kids at summer camp. They want to win the loyalty of very wealthy families as early as possible (paywall).
A Florida man brought his gator shopping. A viral video shows him chasing customers for laughs.
Kangaroos are taking over Canberra. The Australian capital is overrun due to food shortages caused by unseasonal weather.
Our best wishes for a productive day. Please send any news, comments, pet gators, and intriguing young billionaires 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 Alice Truong.