Good morning, Quartz readers!
What to watch for today
Donald Trump addresses the UN General Assembly. The US president is expected to tout warmer relations with North Korea and call on countries to isolate Iran. His speech will likely set the stage for a tense UN Security Council meeting, which Trump will chair tomorrow.
The US and Japan talk trade. The US trade representative and Japan’s economy minister will engage in a second round of talks, postponed from yesterday, ahead of a meeting between Trump and prime minister Shinzo Abe tomorrow. Japan is hoping to avert steeper US import tariffs on its cars and fend off demands for a free-trade agreement.
Nike posts its first earnings after a high-risk ad campaign. The sportswear maker is expected to report significant gains in profit and revenue, offering its first financial update since it launched ads featuring former 49ers quarterback and social justice activist Colin Kaepernick. Nike’s comparable sales jumped 31% shortly after the campaign launched.
The Fed convenes. The Federal Reserve is widely expected to announce rate hikes at the close of the two-day meeting on Wednesday. Such an increase would signal confidence in a strengthening US economy as the labor market tightens and inflation stays on-track.
While you were sleeping
Instagram’s cofounders resigned. Kevin Systrom and Mike Krieger, respectively the CEO and chief technical officer of the Facebook-owned photo app, will leave the company in the coming weeks, reported the New York Times (paywall). Systrom said in a statement the pair were “taking some time off to explore our curiosity and creativity again.”
Brett Kavanaugh defended himself against allegations of sexual misconduct. Trump’s Supreme Court nominee described accusations from two women as “smears, pure and simple.” Kavanaugh also took the unusual step of appearing on Fox News (paywall) ahead of a hearing scheduled for Thursday, at which the judge and one of his accusers, Christine Blasey Ford, are expected to testify.
The US-China trade spat intensified. A senior Chinese official said the US had “a knife to China’s neck” on trade issues, another sign of Beijing’s increasing reluctance to negotiate with Donald Trump. Analysts suggest the superpower might wait until Trump leaves the White House to resume talks. The US slapped tariffs on $200 billion of Chinese goods this week, prompting China to respond in kind on $60 billion worth of US products.
Venezuela’s president accused Chile, Colombia, and Mexico of assisting terrorists who tried to kill him. The three countries refuted Nicolas Maduro’s accusations that they were linked to a drone attack last month. Maduro escaped unharmed after two drones carrying explosives (paywall) detonated near him as he was giving a speech at a military parade.
Oil prices hit a four-year high. Brent crude continued its rise today after crossing the $80 mark (paywall) on Monday. The gains follow OPEC’s decision over the weekend to not increase production, as the oil market surged on fears of new US sanctions on Iran and continued production problems in Venezuela.
Quartz Obsession interlude
Amanda Shendruk on how the UN gets its funding. “Nations, however, aren’t the only sponsors of the UN. The Bill and Melinda Gates Foundation has given significant amounts of money to the organization. Over the past three years, the charitable foundation has contributed almost $300 million annually, putting it 25th on the list of highest funders, just after Argentina.” Read more here.
Matters of debate
Asian-American CEOs are doomed to fail. Seen as hard-working and self-sacrificing, they’re often hired to save a company when it’s already too far gone.
The internet will split in two by 2028. Former Google chief Eric Schmidt says half will belong to China (paywall)—where Google plans to reestablish its business—and half to the US.
The famed Harvard Business School case study is out of touch. Even the man credited with establishing the method thought it was too indifferent to larger societal ills.
Surprising discoveries
HBO wants to open Westeros to tourists. Parts of Northern Ireland where Game of Thrones was shot will be turned into tourist attractions.
Desert ants are gastronomes. North African ants are able to distinguish between a dozen scents, and remember some for the rest of their lives.
When global gold prices go up, fewer baby girls in India survive. Researchers believe more expensive dowries result in families neglecting their daughters.
Mosquitoes are a fate worse than jail. A getaway driver hiding in a cornfield in Wisconsin turned himself in after being swarmed by the bloodsuckers.
Scrabble said “OK” to “yowza.” Losers will “facepalm” after a “beatdown” while victors reach a state of “zen” using newly approved words.
Our best wishes for a productive day. Please send any news, comments, deputized mosquitoes, and triple word scores 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 Cassie Werber, Sarah Todd, and Jackie Bischof.