Good morning, Quartz readers!
What to watch for today
Italy releases its budget outline. Financial markets are counting on economy minister Giovanni Tria to water down some of the ruling coalition’s big-spending plans. After Greece’s, Italy’s public debt is the highest in the euro zone.
Christine Blasey Ford takes center stage. The California psychology professor will testify before US lawmakers that Supreme Court nominee Brett Kavanaugh sexually assaulted her when they were both in high school. An additional two women have come forward with allegations of misconduct; Kavanaugh has denied wrongdoing.
India starts new tariffs. In a protectionist move designed to take pressure off the weakened rupee, the government is upping tariffs on 19 items deemed non-essential, among them footwear, refrigerators, and air conditioners. The measure will hit Chinese and South Korean imports in particular.
While you were sleeping
Donald Trump accused China of election meddling. The US president said Beijing is helping Democrats with the Nov. 6 congressional elections because of his administration’s tough stance on trade. He made the statement during an unrelated UN Security Council meeting; China quickly denied the accusation.
A third woman came forward with allegations against Brett Kavanaugh. Julie Swetnick alleged the US Supreme Court nominee was, in his high school years, involved in gang rapes of teenage girls. Kavanaugh said the accusation was “ridiculous,” while Democrats called for further investigation into his background.
Uber reached a settlement with US states over a data breach. In November 2016 the ride-hailing giant learned hackers had accessed the personal data of drivers and riders, yet it failed to notify authorities of the breach. The company agreed to pay $148 million and tighten its data security.
The Fed hiked interest rates. The US central bank upped the benchmark interest rate a quarter point to 2.25%, its eighth increase since it began normalizing policy in December 2015. It projected one more rise before year’s end and three in 2019.
Stripe is now among the world’s most valuable private startups. The payments firm recently closed a $245 million funding round (paywall) that values it at $20 billion, according to Bloomberg. Stripe helps companies set up online billing and payment systems, and now counts Google and Uber among its customers.
Quartz Obsession interlude
Akshat Rathi on the $1 billion energy fund led by Bill Gates: “It’s not often that the world’s richest people get together, agree on a goal that’s for the public good, and then set about finding ways to achieve it. But that’s what Bill Gates has achieved with Breakthrough Energy Ventures (BEV), which aims to invest $1 billion into radical energy startups capable of drastically cutting global emissions.” Read more here.
Matters of debate
All adults should have a bedtime. Sticking to a sleep routine is the bedrock of a good night’s rest because humans thrive on routine.
Apple’s flagship product is privacy. The tech giant is willing to go further than its competitors to ensure that users aren’t being constantly tracked or tricked into handing over data.
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
Thomas Edison thought gold would be worthless. The famed inventor believed “the secret of transmuting metals” would soon be unlocked, allowing scientists to turn iron bars into gold.
The former French prime minister is running for mayor of Barcelona. Manuel Valls is taking advantage of a rule allowing all EU citizens to run in a member state’s municipal elections.
Beyoncé and Jay Z have a mortgage, as do most billionaires. The power couple spends $200,000 a month on their mortgage, freeing up other funds for money-making investments.
Soccer fans can soon show love for their favorite team with crypto. French club Paris Saint-Germain will sell supporters a token backed by the blockchain startup chiliZ.
Sweden’s ad ombudsman ruled the “distracted boyfriend” meme sexist. It said the image portrays the two women as objects.
Our best wishes for a productive day. Please send any news, comments, transmuted gold, and improbable candidates 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 April Siese and Steve Mollman.