Good morning, Quartz readers!
What to watch for today
The Senate Intelligence Committee interviews Donald Trump Jr. The president’s eldest son will privately face questions about a Trump Tower project in Moscow, and a 2016 meeting with a Russian lawyer believed to have damaging information on Donald Trump’s then-presidential opponent, Hillary Clinton.
Renault’s shareholder meeting attracts a bumper crowd. Investors are seeking an update on the partnership with Japanese car maker Nissan (paywall), and on the failed merger talks with Fiat-Chrysler. It’s the first such meeting since former chairman Carlos Ghosn’s arrest.
Shinzo Abe makes a historic trip to Iran. The Japanese prime minister will meet with president Hassan Rouhani (paywall) in Tehran today, and Supreme Leader Ayatollah Ali Khamenei tomorrow, in an attempt to help soothe tense Iran-US relations (paywall).
Macron tries to get back on track. With his popularity ratings up and protests subsiding, the French president will send his prime minister to parliament to present the government’s proposals to reform the French economy.
Lululemon reports first-quarter earnings. The athletic wear retailer has been focused on expanding outside of the US and Canada, particularly in Asia. Chinese e-commerce sales jumped 150% in its previous financial year, which ended Feb. 3, and the company recently opened its first store in Osaka and its first airport store in Hong Kong.
While you were sleeping
Demonstrators occupied Hong Kong streets. Thousands faced off against riot police to continue protests against a controversial bill that could lead to suspects being extradited to mainland China. The government has refused to shelve the bill, but today’s actions forced lawmakers to postpone a debate on the topic.
China’s consumer prices grew at their fastest pace in a year. Food prices sent the index up 2.7%, the highest pace of growth since February last year. Pork and fruit prices have risen due to a swine flu outbreak and weather conditions.
KKR wants to buy a piece of Axel Springer. The US private equity group’s offer values Axel at €6.8 billion ($7.7 billion) (paywall), and could provide resources to acquire rivals and transition to digital formats. The publisher of brands including Bild and Business Insider also lowered its profits and sales outlook for 2019.
Bookie fave Boris Johnson launched his leadership bid. Conservative MPs begin voting to whittle down the ten candidates for party leader, and thus prime minister, tomorrow. Investors are trying to gauge the former foreign secretary’s willingness to take the UK out of the EU without deal, with some financial executives preferring his rival (paywall), Michael Gove.
Fast fashion sales flew off the rack. Zara owner Inditex said first-quarter profits rose 10%, partly as a result of foreign-exchange conversions. Constant exchange-rate sales increased 9.5% as buyers snatched up spring collections. The world’s largest clothing retailer also got a boost from its Zara brand going online in Brazil.
Membership
We continue our tour of Israel’s food startup landscape with a visit to a startup that is trying to reinvent sugar. By using silica, DouxMatok has found a way to use 40% less sugar in food products while delivering the same level of sweetness. And in our members-only video series on how to start and build a digital community, Strava CEO James Quarles shares how to turn the things that motivate people into an actual business.
Quartz Obsession
Why is mayonnaise such a controversial condiment? Mayo’s versatility has made it a hard-to-top staple. But this straightforward spread has a complicated place in culture—raising an emulsion of questions about authenticity, access, and who gets to decide what’s delicious. Dive in at the Quartz Obsession.
Matters of debate
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Conversing is a crucial parenting skill. An adorable viral video demonstrates how a spirited back-and-forth can help babies’ brains develop.
The fashion industry needs to chill with luxury outdoor gear. It’s expensive, difficult to manufacture, and often unsustainable.
Silicon Valley is copying Asia now. Uber is reportedly pivoting to fintech, a maneuver that was pioneered by Asian companies years ago.
Surprising discoveries
Black-and-white film is making a comeback in Japan. A year after discontinuing the offering, Fujifilm has yielded to consumer pressure to bring it back.
More than 400 people competed “virtually” in the last New York City marathon. This year, organizers aim to attract thousands of participants from all over the globe.
Fish can be heartbroken too. Researchers say that female central American convict cichlids that lose their mates are gloomy.
Food labels aren’t the best way to tell if food has gone bad. The FDA wants consumers to learn the difference between quality and safety.
Hackers stole 18 hours of Radiohead outtakes for ransom. The band responded by putting the unreleased recordings up for sale, and pledging to give away the proceeds.
Our best wishes for a productive day. Please send any news, comments, heartbroken fish, and praise for mayonnaise to hi@qz.com. Join the next chapter of Quartz by downloading our app and becoming a member. Today’s Daily Brief was written by John Detrixhe and edited by Jackie Bischof.