Skip to navigationSkip to content

🌎 Raid on Mar-a-Lago

It's unprecedented for law enforcement to search the home of a former president.

Former US President Donald Trump's residence in Mar-A-Lago, Palm Beach, Florida.
GIORGIO VIERA
This story was published on our Quartz Daily Brief newsletter, The concise, conversational rundown you need to start your day.
  • Sofia Lotto Persio
By Sofia Lotto Persio

Newsletter writer and editor

Published

Good morning, Quartz readers!


Here’s what you need to know

The FBI searched Donald Trump’s Mar-a-Lago residence. The unprecedented action is part of an investigation into alleged mishandling of White House documents.

Meme stocks are rising again. Shares of Bed Bath and Beyond, AMC, and GameStop are rallying despite the companies’ less-than-rosy future prospects.

The US Treasury blacklisted a cryptocurrency exchange. Tornado Cash is suspected of facilitating money laundering from entities such as North Korean hackers.

Pfizer agreed to buy Global Blood Therapeutics. The American pharmaceutical giant offered $5.4 billion for the sickle cell disease drugmaker.

US regulators withdrew PredictIt’s license to operate. The popular platform allowed users to bet on their political forecasts, but to the Feds this might have looked like illegal gambling.

A fire at a Cuban oil storage facility spread to a third tank. A blaze started by a lightning strike injured dozens, killed at least one person, and further strained the island’s energy supplies.

Chile promised repercussions over a massive sinkhole. As the sinkhole expands, the government plans sanctions against those responsible.


What to watch for

A portrait of a man wearing black-lens sunglasses with a navy frame. On top of the glasses are two paper cutouts of Raila Odinga. On the frames are more paper cutouts including a large, orangey-yellow letter "R" and the words "Raile Amolo Odinga." Around the man's neck appears to be some kind of giant faux-fruit (mango?) necklace. He is also wearing a red helmet.
Image copyright: Monicah Mwangi
<b>A supporter of Kenya’s opposition leader and presidential candidate Raila Odinga of the Azimio La Umoja (Declaration of Unity) One Kenya Alliance, attends his final campaign rally ahead of the General election at the Kasarani stadium in Nairobi, Kenya August 6, 2022.</b>

Kenyans vote today to pick president Uhuru Kenyatta’s successor. Leading the polls is former prime minister and opposition leader Raila Odinga, followed by deputy president William Ruto, immigration lawyer George Wajackoyah—a wildcard candidate who called for the legalization of cannabis—and lawyer and ordained minister David Waihiga Mwaure.

Voters want solutions to the rising cost of living and corruption issues. The lead up to the vote has already seen a boost in alcohol sales and a shortage of small denomination notes—both potential signs of voter bribery.

Even though recent elections in 2013 and 2017 avoided a repeat of the deadly clashes that followed the 2007 vote, their results were disputed, and the risk of political violence remains a concern. Citing an “abundance of caution,” the US embassy in Kenya has issued a security alert for Kisumu, the hometown of presidential hopeful Odinga, warning staff to avoid the area.


The biggest climate bill in US history

The Inflation Reduction Act, approved by the US Senate on Aug. 7, is considered the country’s largest and most significant bill to address climate change to date. Here’s what it entails:

📉 The legislation has provisions for healthcare and taxes, but a $369 billion investment toward transitioning to low-carbon energy has dominated headlines, as it brings the US closer to the White House goal of cutting emissions in half by 2030, compared to 2005 levels.

🔌 Consumers will get rebates on electric vehicles, energy-efficient household appliances, and solar panels.

☀️ Federal loans will support manufacturers of solar panels and large batteries.

🌱 Farmers who adopt practices that remove carbon from the atmosphere will get financial support.

🛢️ But the fossil fuel industry also won concessions, including $20 billion in subsidies and new land for offshore drilling.

🖋️ The House is expected to vote on the bill by the end of the week. If it passes, it’d head to president Joe Biden’s desk.


What does reader support mean to you?

At Quartz, we’re on a mission to deliver journalism that helps make business better—and make ourselves better, too.

That’s why we want to hear from you! If you’re a fan of Quartz (we’ve got an inkling you are), help us understand what you like most about our stories and analysis. We’ve got a couple questions for you to answer, and we promise it’ll only take a few minutes.

👉 Here’s the survey link.

Thank you for your support. Happy reading!


Quartz’s most popular

📈 This is the metric Elon Musk and Twitter are focusing on in court

💼 The US labor market has fully recovered from covid

🏠 Pre-selling homes in China isn’t working the way developers hoped

🎨 Artists and designers are now commanding six-figure salaries

🤔 The Feds shut down the internet’s most popular prediction market

😡 Climate activists are enraged that African leaders want to invest in fossil fuels


Surprising discoveries

All you need is a 120 second walk after a meal to feel better. We prefer cat naps, but we guess lowered blood sugar is a pretty good perk.

A hummingbird species not seen in 12 years was spotted in Colombia. It was the third ever recorded sighting of the Santa Marta sabrewing.

A World War II bomb was found in an Italian riverbed. The recent heat wave dried up the water, revealing a 450 kg (~1,000 pound) explosive.

Zoos are giving animals “icy enrichment” to beat the heat. Summer treats include pumpkin spice flavored ice blocks.

Florida is holding a snake removal competition. Eight hundred contestants are hunting down invasive Burmese pythons to claim cash prizes.


Our best wishes for a productive day. Send any news, comments, rare hummingbirds, and icy enrichment to hi@qz.com. Reader support makes Quartz available to all—become a member. Today’s Daily Brief was brought to you by Sofia Lotto Persio, Julia Malleck, and Morgan Haefner.

📬 Kick off each morning with coffee and the Daily Brief (BYO coffee).

By providing your email, you agree to the Quartz Privacy Policy.