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What to watch for today
The European Central Bank publishes its June meeting minutes. Investors will be looking for clues on the bank’s policy plans, as potential rate cuts and bond purchases could put pressure on the euro.
Germany and the US discuss aircraft subsidies. The German economy minister will meet with US Trade Representative Robert Lighthizer to try and settle an ongoing dispute over claims that the US and EU give illegal subsidies to their respective planemakers, Boeing and Airbus.
The EU discusses sanctions on Turkey. The country insists its oil-and-gas drilling off Cyprus is legitimate, but EU ministers are threatening sanctions including cuts in aid and lending and the suspension of political talks.
Donald Trump hosts a social media summit. Facebook, Twitter, and Google have not been invited to the meeting at the White House, while various conservative groups and fringe figures have confirmed their attendance. The US president has accused large tech companies of an anti-conservative bias.
VW discusses deepening its alliance with Ford. At a supervisory board meeting, German auto giant Volkswagen will likely agree to share with Ford the cost of developing autonomous vehicles and making electric cars.
While you were sleeping
Iran tried to seize a British oil tanker. Five Revolutionary Guard gunboats approached a British Heritage tanker as it sailed out of the Persian Gulf and ordered it to stop in waters close by, but withdrew after a warning from a British warship, according to US officials.
Amnesty International called on South Korea to end discrimination against gay soldiers. In a newly released report, the human rights group urged the country to repeal a law that criminalizes same-sex relationships for men in the military.
The US launched a probe into France’s plan to tax tech giants. A new law expected to be passed by the French parliament today would slap a 3% levy on firms like Google and Facebook for revenue made in France. The Trump administration says the tax may “unfairly target American companies.”
The US is investigating Deutsche Bank over 1MDB deals. The inquiry is part of a broadened probe into Malaysia’s investment fund, and seeks to determine whether the German bank violated foreign-corruption or anti-money-laundering laws as it helped 1MDB raise $1.2 billion in 2014.
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Our week-long examination of the data boom looks today to Oregon senator Ron Wyden for an explanation of why those in power aren’t protecting your privacy. We also continue our week-long series of insights from Brandless founder Tina Sharkey, who addresses how to get employees to care about your company’s mission.
Quartz Obsession
A matter of standards. Despite low inflation and the scorn of economists, gold standard fans are moving into the mainstream. Some politicians tout it as a common sense approach to monetary policy, and since 2011, at least six states in the US have passed laws recognizing gold and silver as currency. Another three are presently contemplating bills of their own. But is all that glitters really gold? Find out in the Quartz Obsession.
Matters of debate
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Lady Gaga is Amazon’s ticket to beauty domination. Her platform-exclusive brand Haus will force the cosmetics industry to accept Amazon as a worthy competitor.
Mulan didn’t just want to be a man. She strove to embrace her female identity as equal to that of a man.
Twitter needs a pause button. A break from instantaneous communication reduces the risk of disinformation.
Surprising discoveries
Scientists are looking for moons on the run. “Ploonets” are exomoons that have escaped their planets to orbit their stars instead.
An entire city will be exorcized via helicopter. The bishop of Buenaventura, Colombia, will sprinkle holy water from the sky in an attempt to banish its demons.
China’s elite lost $530 billion in 2018. The plunge in wealth last year was due to a slowing economy.
Lehman stocks are worth something again. Owners of the hapless lender’s paper certificates are making big bucks on eBay.
Jacinda Ardern’s neighbor admitted to killing her cat. A man named Chris finally broke his silence, a year after he ran over the first cat of New Zealand.
Our best wishes for a productive day. Please send any news, comments, Lehman memorabilia, and holy rain 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 Mary Hui and edited by Isabella Steger.