Good morning, Quartz readers!
What to watch for today
An ECB decision on interest rates. Investors are evenly split on whether the European Central Bank will cut its key interest rate today or wait until Sept. 12. They’ll also be looking for hints that president Mario Draghi intends to revive the bank’s large bond-buying program.
Nissan reports results from a difficult quarter. The troubled Japanese carmaker confirmed yesterday that its quarterly profit dropped around 90% year-on-year, with a weak performance in the US being a major factor. It’s also expected to announce more than 10,000 job cuts.
South Korea talks to Russia about a wayward reconnaissance plane. The country says an incident Tuesday marked the first time since the end of the Korean War that a foreign military plane violated its airspace. The aircraft was on a joint patrol with Russian and Chinese bombers.
While you were sleeping
Resumed US-China trade negotiations got a date. Top-level representatives from each side will meet face-to-face next week for the first time since Donald Trump and counterpart Xi Jinping last month agreed to restart negotiations, the White House announced. The talks will be held July 30 in Shanghai.
Boeing posted its biggest-ever quarterly loss. The planemaker cited the spiraling costs of resolving issues with its best-selling aircraft, the 737 Max, warning it might have to stop production of the jet completely if global regulators erect new hurdles.
Boris Johnson assembled his team. In a major cull, the UK’s new prime minister changed all the main cabinet positions, naming Sajid Javid chancellor, Priti Patel home secretary, and Dominic Raab foreign secretary, among others. He also promised, in his first speech as premier, that the UK would leave the EU by Oct. 31.
US regulators gave Facebook a sweetheart deal over alleged user privacy violations. Critics blasted the $5 billion settlement announced by the Federal Trade Commission, noting the amount is less than 25% of the social media giant’s 2018 revenue and that no executives were held accountable, among other problems.
GOP lawmakers grilled Robert Mueller. Republicans questioned Mueller’s competence, motives, and patriotism at a hearing purportedly about his investigation into Russian interference in the 2016 US presidential election.
The Jell-O market is unstable. First a savory treat, then a dessert, the wiggly centerpiece of 20th-century meals has been on a slide for years. But gelatin has found new favor with high-end chefs, who have returned it to its old use of sealing up meat in dishes like artisan head cheese. Dig in at the Quartz Obsession.
Matters of debate
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Theresa May has advice for working women. When working with men who aren’t fit for their posts, stick to your vision and soldier on.
A Republican damaged Trump most at the Mueller hearing. Congressman Ken Buck didn’t expect Mueller to answer that the president could be charged for obstruction of justice after he’s left office.
The next 18 months will be do-or-die for the planet. We can stop rising temperatures, but we have to do it before the end of 2020.
A British MP’s communications chief resigned using his boss’s Twitter. Jared O’Mara’s feelings notwithstanding, the very public tweetstorm is the best quitting story in recent memory.
The man who found the Titanic is coming for Amelia Earhart. Robert Ballard will use the E/V Nautilus in his underwater search for the aviator’s downed plane.
We waste a dangerous amount of seafood. The world might be overfishing, but we’re still throwing away 50 million tons annually.
Forever 21 apologized for sending diet bars with orders. Critics said Atkins products send the wrong message to a vulnerable audience.
Birds need hot wings. Dark feathers heat up the air around them to increase flow and make flying more efficient.
Our best wishes for a productive day. Please send any news, comments, quitting stories, and hearts of the ocean 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 Steve Mollman and Susan Howson.