Good morning, Quartz readers!
What to watch for today
Will Japanese markets wake up with a hangover? The spring holiday, extended by Emperor Naruhito’s ascension, was the longest period without active trading since World War II, leaving investors to digest a bellyful of mixed economic and trade news.
Google’s annual I/O showcase reveals new hardware. The company is expected to show off new devices that fold, from Samsung, Huawei, and Motorola, along with an expanded smart home line.
UK-EU Brexit negotiations start back up again. British prime minister Theresa May is reportedly preparing plans for a second referendum, in case parliament forces a vote.
While you were sleeping
The US said it would raise tariffs on Chinese goods. US trade representative Robert Lighthizer said the new duties would take effect at 12:01am ET on Friday (paywall), as he accused Beijing of backtracking on previous promises to rewrite its forced technology transfer laws. Chinese negotiators said they still planned to attend talks in the US this week, though it’s not clear if that includes high-level representatives like vice premier Liu He.
…While global stock markets went on a wild ride. The Dow Jones Industrial Average fell 450 points at the open of trading, before roaring back to close nearly even. Around the world, oil prices, the Chinese yuan, and European and Asian stocks all showed sharp spikes in volatility.
Israel and Hamas agreed on a ceasefire after the worst violence since 2014. Three days of missile strikes resulted in the deaths of 25 Palestinians and four Israelis, after Gaza-based militants launched hundreds of rockets and the Israel Defense Forces responded in kind.
The White House missed a Mueller report deadline from Congress. House Judiciary chair Jerrold Nadler said he would move to hold US attorney general William Barr in contempt of Congress, after Barr missed a deadline to provide an unredacted version of the report on Russian interference and the Trump administration.
Prince Harry and Meghan Markle produced a new royal. The Duke and Duchess of Sussex welcomed their baby boy, whose name has not yet been announced. The child’s birth marks the first time in recent history that a baby born into the British monarchy has been multiracial.
Membership
Ant Financial is what you get when you rebuild consumer finance for the digital age. The eight-year-old Alibaba spin-off now has ambitions that span the world. Find out more about the $150 billion fintech giant in our latest field guide. Plus, in a new episode of our members-only video series, Because China, we look at how the short-form video app TikTok is changing the way we find, listen to, and interact with music.
Quartz Obsession
The Met gala is going to be even campier than usual. The annual fashion extravaganza is going with the so-bad-it’s-good aesthetic made famous by Susan Sontag and John Waters, now embraced by designers like Balenciaga and stars like Lady Gaga. But for all its showiness, camp is a sophisticated, subtle concept. Take a peek at the Quartz Obsession.
Matters of debate
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Women are 75 years from child-raising parity. Dads are still happy to sit back while moms manage the complex balancing act of running a household.
AirPods are dangerously expendable. Their assembly exploits workers, they can’t be repaired, and they’ll never decompose.
Financial advice shames women. Men are encouraged to take risks, while women are told to cut back on lattes.
Surprising discoveries
Campbell’s soup changed tomato DNA. An attempt to genetically engineer a hardier fruit backfired, showing that gene editing can have unexpected consequences.
Netflix thinks torture is great TV. Contestants on the game show Flinch will face electrocution, dunkings in cold water, and more.
Japan could be drunk dry by rugby fans. As it prepares for its first World Cup, beer vendors are frantically stockpiling.
There’s apparently a Starbucks in Westeros. Game of Thrones fans were quick to notice an anachronistic coffee cup among drinking horns and goblets.
An ancient star collision gave us precious metals. The violent meetup of two neutron stars 4.6 billion years ago showered our solar system with gold, platinum, and plutonium.
Our best wishes for a productive day. Please send any news, comments, Winterfell frappucinos, and designer soup tomatoes to hi@qz.com. Join the next chapter of Quartz by downloading our app and becoming a member. Today’s Daily Brief was written and edited by Adam Pasick and Susan Howson.