Good morning, Quartz readers!
What to watch for today and over the weekend
Malaysia’s prime minister cuts a new deal in China. Mahathir Mohamad has been critical of his predecessor’s big infrastructure contracts with China, saying they do not make financial sense. He starts a five-day trip on Friday that will include a meeting with Chinese president Xi Jinping.
Merkel meets Putin to talk Trump. The Russian president will visit his German counterpart on Saturday, with a planned agenda that includes Ukraine, Syria, and natural gas. But analysts expect the pair to also discuss the disruptive US trade war, including the ripple effects of Trump’s sanctions against Turkey.
While you were sleeping
US markets surged on China trade talks… News that Beijing would send a trade delegation next month sent equities, gold, oil, and Treasuries higher, and investors cheered a possible thaw between the world’s two biggest economies.
…And Walmart’s best results in more than a decade. The retail giant’s earnings and revenues topped expectations on a wave of eager-to-spend shoppers in its stores, along with higher e-commerce sales. Shares rose nearly 10% on the results, boosting the founding Walton family’s fortune by $11.6 billion.
Queen of Soul Aretha Franklin died at 76. The legendary singer known for hits like “Respect” and “Chain of Fools” had advanced pancreatic cancer. Her 60-year recording career made her an icon of empowerment, the first woman in the Rock’n’Roll Hall of Fame, and the greatest singer of all time, according to Rolling Stone.
Newspapers launched a counter-attack against Trump’s anti-journalist rhetoric. Hundreds of papers published editorials decrying Trump’s “dirty war against the free press,” especially his vitriolic description of journalists as “enemies of the people.” UN human rights commissioner Zeid Ra’ad al-Hussein said that Trump’s actions are “very close to incitement to violence.”
The US approved the first generic EpiPen competitor. The Food and Drug Administration cleared Teva Pharmaceutical’s version of the life-saving allergy auto-injector, which has been criticized for its extortionate pricing. Mylan Pharmaceuticals generates about $1 billion a year in EpiPen sales, after raising prices more than 100% over the last decade.
Quartz Obsession interlude
A special series by Quartz and the Texas Observer examines the fight for water in a warming world: “Managing a river shared by two countries is challenging enough. Add to that historically volatile relationships, booming populations, longer and more intense droughts driven by climate change, and the growth of industries dependent on the river for water, and you have—well, you basically have the river-border between Texas and Mexico.” Read more here.
Matters of debate
Elon Musk illustrates the paradox of power. He understood people on the way up, but his behavior at the top indicates he’s lost touch.
Recycling is counterproductive. It’s ineffective, inefficient, expensive, and legitimizes single-use items.
Give open offices another chance. With collaborative areas and enclosed spaces, the concept often works beautifully.
Surprising discoveries
A Danish boy discovered a buried WWII plane, complete with the pilot’s remains. The teenager was looking for buried family artifacts with a metal detector.
Ikea underestimated Indian demand. The flagship Hyderabad store suffered two-hour lines and traffic jams.
Humans pay through the nose, literally. Companies have figured out how to manipulate our senses of smell to keep us buying.
The best zoos house the best escape artists. A healthier, happier animal is more likely to find a creative exit.
Mathematicians solved the dry spaghetti problem. To break a noodle exactly in half, you need to twist as well as bend.
Our best wishes for a productive day. Please send any news, comments, vanishing gorillas, and noodle fragments 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 and edited by Adam Pasick and Susan Howson.