Good morning, Quartz readers!
What to watch for today
China and the US begin trade talks. US president Donald Trump says he doesn’t “anticipate much” from meetings with Chinese negotiators, who are scheduled to visit Washington today and Thursday to discuss the ongoing tariff war between the two nations. Chinese foreign ministry spokesman Lu Kang is more optimistic, telling Beijing reporters there could be a “good result.”
The US stock market sets a bull-market record. Since March 9, 2009, the S&P has been on an upward trajectory, lately powered by economic growth and better-than-expected corporate earnings. Today marks the 3,453rd day of the bullish run, making it the longest one in US market history, but not the fastest growing.
Japan braces for two typhoons. The storm-tossed country prepares for yet another extreme storm, with Typhoon Soulik expected to cause heavy rains and damaging winds in the Kyushu area before moving onto South Korea, and Typhoon Cimaron approaching from the south later this week. Flooding and mudslides in Western Japan killed more than 220 in July.
While you were sleeping
Paul Manafort was found guilty… A jury found Donald Trump’s former campaign manager guilty on eight counts of tax evasion, bank fraud, and hiding foreign assets, but deadlocked on an additional 10 counts. The verdict is special counsel Robert Mueller’s first major court victory related to his investigation into Russian interference in the 2016 presidential election.
…And Michael Cohen cut a deal. In another seismic Trump-related legal development, his former fixer and attorney pleaded guilty to tax evasion, bank fraud, and “violating campaign law at the direction of a candidate”. Cohen, who once said he’d “take a bullet” for Trump, arranged for payments to two women who claimed to have had affairs with the president.
SoftBank invested heavily into Getaround. The conglomerate expanded its transportation portfolio by leading a $300 million round of funding for the peer-to-peer rental-car app, who also counts Toyota as one of its investors. Startups like Getaround indicate the growing impatience with the added costs found with traditional rental-car companies.
Inmates in the US started a two-week strike. Prisoners in at least 17 states will refuse to eat, work, or spend commissary money, and some are demanding a fair minimum wage for prison-related jobs. The inmates are protesting forced labor, and have likened prison conditions to modern-day slavery.
Uber will pay $1.9 million to settle a harassment scandal. A total of 56 current and former employees who filed sexual harassment claims will receive an average of just under $32,000 (paywall). Another 500 female and minority engineers will also get just short of $11,000 on average for a 2017 class-action lawsuit alleging pay discrimination.
Quartz Obsession interlude
Tim Fernholz on the world’s biggest plane that, arguably, no one needs: “The disconnect between Stratolaunch’s goals and the actual needs of satellite operators have given rise to another theory about the company: that it is a secretly funded project of the US military to develop some very specific launch capability, perhaps even for anti-satellite weapons.” Read more here.
Matters of debate
Bitcoin’s energy consumption isn’t the issue. What matters more is who produces the energy, and whether they’re using renewable sources to do so.
Ranking countries in terms of “most liveable” is problematic. Researchers are using prejudiced metrics—and who determines if Lagos has less culture than Vienna, anyway?
Career advice for women is a form of gaslighting. The reality of flawed workplaces and subtle biases aren’t fully considered when women are told how to succeed.
Surprising discoveries
Kids don’t play enough. For children who have busy, activity-filled schedules, making time for play aids healthy development.
The first customer complaint is 3,800 years old. The text, housed in London’s British Museum, is inscribed on a clay tablet and bemoans an incorrect copper delivery.
Crazy Rich Asians could have had a white lead actress. Kevin Kwan, author of the original book, said one producer’s offer was contingent on re-writing the main character as Caucasian.
China’s electric vehicle startups can’t make their own cars. Out of almost 500 EV makers, only eight have the two key licenses to start manufacturing.
The US deported a former Nazi guard decades after finding him. Germany only recently agreed to take in Jakiw Palij, 95, who worked at a concentration camp in Poland.
In yesterday’s Asia Brief, we incorrectly identified India’s defense minister, Nirmala Sitharaman, as male. As many of you pointed out, Sitharaman is a woman. We regret the error.
Our best wishes for a productive day. Please send any news, comments, ancient support tickets, and clueless producers 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 Susan Howson and Aisha Hassan.