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What to watch for today
Boris Johnson and Jeremy Hunt have words. The two contenders for the UK’s top office will finally go head to head in front of a live audience on Britain’s ITV. The debate begins at 8pm BST.
Pepsi, Levi’s, and Boeing report in. The snack and beverage giant is expected to show strong growth in its second-quarter numbers after investing heavily in healthier products. In its second report since going public in March, Levi’s could be an example of how global trade spats are affecting the denim business. Meanwhile, Boeing’s order and delivery update is expected to show a significant drop in both.
The US and Qatar have a sit-down. Donald Trump will host emir Sheikh Tamim bin Hamad Al-Thani for talks on regional politics and counter-terrorism cooperation. Saudi Arabia and other US-backed allies have imposed sanctions on Qatar over its support for Iran, but the US hopes that stronger ties will put pressure on Tehran. (British ambassador Kim Darroch was disinvited from the meeting after making dismissive comments about Trump.)
While you were sleeping
Deutsche Bank lost investor confidence. Once they were able to scrutinize the details of the German bank’s restructuring plan—which will involve 18,000 layoffs—an initial surge collapsed and sent prices falling nearly 6%.
Greece returned power to the New Democrats. The center-right party won 40% of the vote in Sunday’s election, and its leader Kyriakos Mitsotakis was sworn in on Monday as Greece’s new prime minister. This will be the third leadership stint in 15 years by New Democracy, which is inheriting an economy that is a fifth smaller than it was a decade ago.
Wall Street got skeptical about interest rate cuts. A historically strong June was buoyed by hopes that the US Federal Reserve would slash rates, but strong jobs numbers mean the Fed is likely to reconsider. Tech and health led Monday’s downward slide.
Jeffrey Epstein pleaded “not guilty.” The financier was arrested Saturday and formally charged on Monday on counts of sex trafficking conspiracy and sex trafficking. New York prosecutors are asking for the multimillionaire to be detained, raising concerns that Epstein might flee or tamper with witnesses or evidence.
New York got US Democrats closer to Trump’s tax returns. Governor Andrew Cuomo signed a tax law amendment that requires the state’s taxation and finance commissioner to comply if certain congressional committees request state income tax returns.
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Data brokers and the race to find out everything about you. The amount of information we share is expanding at a rapid rate, and with it, an entire new industry designed to harvest, analyze, and sell your information to the highest bidder. Quartz reporter Olivia Goldhill lays out the facts in her field guide on the data boom. And in the first of a members-only video series, Brandless co-founder Tina Sharkey explains how to imbue your company with a sense of mission.
The war on khat. Chewed (or smoked, or drunk as tea) in moderation, the plant can stimulate sociability and boost alertness like coffee. But too much can launch a manic state followed by a hangover-like crash—or worse. Western countries are cracking down, leading to a culture clash with impacts on the farmers who quite profitably grow it. Chew on this at the Quartz Obsession.
Matters of debate
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Podcasts should stick to proving people innocent. There’s no reason for true-crime journalists to finger an alternate suspect.
Ghana should ditch the IMF. Years of economic aid have left the country saddled with debt.
Disney is bowing to Chinese nationalism. Its Mulan remake transforms the movie into patriotic propaganda.
Nursing moms are swapping breastmilk on Facebook. Some altruistically donate to families in need, while others charge hefty fees.
iPhones are good for the environment. By combining a dozen gadgets in one, they allowed us to manufacture fewer devices.
Starbucks wants you to be excited about its tie-dye drink. The coffee chain is trying to recreate the viral success of its Instagram-friendly unicorn frappuccino.
Pokémon Go can help fight loneliness. Social workers in Spain are prescribing the game to help patients get out, connect, and collect.
Doordash workers don’t get to keep all of your in-app tips. They’re counted towards workers’ basic pay—unless you slip them cash off the books.
Our best wishes for a productive day. Please send any news, comments, Pikachus, and under-the-table tips to firstname.lastname@example.org. Join the next chapter of Quartz by downloading our app and becoming a member. Today’s Daily Brief was written and edited by Susan Howson and Nicolás Rivero.