Good morning, Quartz readers!
What to watch for today
Tories cast their first round of leadership votes. Ten contenders are vying to become head of the Conservatives and thus UK prime minister. Any candidate failing to get enough votes from party MPs today will be out of the race, with more elimination rounds to follow.
The leaders of China, India, and Russia talk US trade. Expect the nations to present a united front against president Donald Trump’s protectionist trade policies at the two-day 19th Shanghai Cooperation Organisation Summit. With eight member nations, the SCO represents about half the world’s population.
Broadcomm looks to connect. The US semiconductor giant is expected to post a rise in second quarter earnings from last year. But trade war uncertainties are weighing on the company, as is the recent US ban on all business dealings with Huawei, which accounts for up to 4% of Broadcomm’s revenues.
Fiverr debuts. The Israeli company, which connects freelancers with customers for as little as $5, will list shares at an expected price of $18-$20 on the New York Stock Exchange. The IPO could fetch up to $100 million for the consistently loss-making online marketplace.
While you were sleeping
Trump said he’d take foreign intel in 2020 race. In an interview with ABC News, the US president said he might not alert the FBI if offered information on campaign rivals, saying it wouldn’t amount to foreign meddling. Donald Trump Jr.’s 2016 meeting with a Russian lawyer promising dirt on on Hillary Clinton was part of special counsel Robert Mueller’s investigation.
A temporary calm was restored in Hong Kong. After a day of violent clashes against police in the city’s central government district that left more than 70 protesters injured, crowds dispersed overnight. The legislature today again postponed the second reading of an extradition bill that, once passed, would allow the city to send suspects to mainland China.
The US navy got two distress calls in the Gulf of Oman. Its Bahrain-based fleet assisted two oil tankers after receiving a call about a “reported attack,” while a shipping service run by the UK navy cited an “incident.” Oil prices jumped more than 3% on the news. The alert comes a month after similar attacks on four tankers in the region, which the US and Saudi Arabia blamed on Iran.
Alibaba reportedly filed for a Hong Kong listing… The e-commerce giant’s confidential stock listing application could raise as much as $20 billion, Bloomberg reports (paywall), five years after its record $25 billion float in New York. The company is trying to fend off fierce competition from rivals, slowing growth in China, and trade war tensions.
…while Monzo reportedly planned a US launch. The digital bank, one of a wave of fintech startups shaking up European banking, is setting its sights on the US’s $7 trillion financial sector, Reuters reports. The company has signed up 2 million customers in the UK since its 2015 launch, thanks to its slick app and pink debit card.
Membership
The rapid decline of the world’s bee population presents a major challenge to farmers. In the latest chapter of our deep-dive into next-generation food startups, we speak with Israeli technologists working on ways to support and monitor bee colonies. This week’s Private Key explains the ground rules for building a blockchain business, and in our members-only video series, Strava CEO James Quarles discusses how to grow a business anchored in an online community.
Quartz Obsession
Ampersands bring it all together. It’s not rhythm and blues—it’s R&B. It’s not Dungeons and Dragons—it’s D&D. Perhaps you’ve shopped at H&M or snacked on M&Ms, and maybe you’ve forgotten to pay AT&T because you were too busy watching Mork & Mindy. Read how this humble piece of shorthand came to be.
Matters of debate
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Logos are far from played out. Designers are borrowing from the past, evolving into new territory, and ignoring armchair criticism.
Hong Kong is a cautionary tale for the free world. China’s tightening stranglehold on the territory exposes the limits of capitalism.
Couples should decouple once in awhile. The celebrity marriage trend of occupying different spaces could strengthen relationships.
Surprising discoveries
Most Americans are on their phones while watching TV. Usually it’s to look up information or text a friend about what they’re viewing.
Elite Brazilians throw live C-section parties. Hospitals offer catering, hair, and makeup, plus viewing windows for friends and family (paywall).
The future of meat involves fewer animals. A new report estimates that most of the “meat” sold by 2040 will be lab-grown or a vegan alternative.
Elon Musk has an aquatic car design. It’s based on a James Bond vehicle, and, for some unfathomable reason, has never gotten the green light.
A donut glaze waterfall is coming to Times Square. Krispy Kreme is opening a flagship store with stadium seating for fans to watch the donut-making process from start to finish.
Our best wishes for a productive day. Please send any news, comments, industrious bees, and submarine cars 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 Adam Rasmi and edited by Jackie Bischof.