Good morning, Quartz readers!
What to watch for today
Earnings day for big Chinese banks. Postal Savings Bank of China has the biggest branch network in the world and has thrived despite Beijing’s crackdown on the financial sector, making it the best-performing Chinese bank stock this year. Also reporting earnings (paywall): Agricultural Bank of China and China Construction Bank.
The UN Security Council discusses a Rohingya genocide report. Investigators have called on the council to prosecute senior military leaders in Myanmar for genocide and war crimes, and to implement an arms embargo and targeted sanctions. But analysts say there is little hope of concrete action due to the veto power held by China, which has backed the actions of the Myanmar government.
Canada rushes to join US-Mexico trade talks. Foreign minister Chrystia Freeland cut short a European trip to fly to Washington for talks (paywall) that could reshape the North American Free Trade Agreement (NAFTA), after the US and Mexico reached a preliminary deal (see below).
While you were sleeping
Donald Trump touted a US-Mexico deal to replace NAFTA. In a glitchy, hastily arranged conference call, Trump said that the US and its southern neighbor would create a new trade pact, with or without Canada, though details were scarce, and any deal would require congressional approval. US auto stocks surged on the news.
Toyota is reportedly investing $500 million in Uber… The investment, which values Uber at about $72 billion, is part of an agreement between the companies to jointly develop autonomous vehicles, the Wall Street Journal reported (paywall). The driverless car sector is made up of a mosaic of shifting alliances between Silicon Valley and traditional automakers.
…And Softbank’s tech fund is investing $100 million in ZhongAn. The online insurer, launched in 2013 by Ant Financial, Tencent,and Ping An Insurance, has expanded into technology products such as artificial intelligence and blockchain. Softbank hopes to expand ZhongAn’s business beyond China to finance, insurance, and healthcare clients.
The US official overseeing student loans quit in protest of the Trump administration’s policies. Seth Frotman, a high-ranking official with the Consumer Financial Protection Bureau, accused acting CFPB director Mick Mulvaney of siding with financial services companies over struggling consumers, which “sacrifices the financial futures of millions of Americans.”
Quartz Obsession interlude
Dave Gershgorn on the ultimate workplace luxury: “Most of us don’t think much about our computer keyboards, but they can be a deeply personal and customized tool, one that can make you feel at home in the office while contributing to your productivity.“ Read more here.
Matters of debate
Advertising should be illegal. It’s an obsolete way to provide information, exists purely to manipulate customers, and could be a violation of antitrust laws.
Forget straws—ban cigarette filters. They’re by far the most common type of human litter, and they don’t make smoking any healthier.
“Change the world” is a dangerous motto for rich people. The wealthy who have caused society’s problems shouldn’t be in charge of fixing them (paywall).
Surprising discoveries
Money can buy happiness. The more money won by Swedish lottery winners, the more satisfied they are with their lives (paywall).
Breast milk carries THC. The mind-altering chemical in marijuana can be passed to babies by their pot-smoking mothers, according to new research.
Apartments are selling for half-price in Spain, pending the owner’s death. Pensioners are selling homes at a discount, provided they can live in them for the rest of their lives.
Paraguayan bandits swapped out police guns for toy rifles. An inspection of a police armory discovered 42 decoys in the place of powerful FN FAL firearms.
Apple’s first computer could be auctioned for $300,000. The Apple-1 with an unmodified motherboard and a place in technology history could fetch for 450 times its original retail price.
Our best wishes for a productive day. Please send any news, comments, Swedish lottery tickets, and apartment deeds 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 Adam Pasick.