Skip to navigationSkip to content

🌍 UK inflation tops 10%

Energy and food prices are soaring.

A woman with a cart of groceries stops to talk to a man in a suit.
Justin Tallis
Britain's Chancellor of the Exchequer Nadhim Zahawi speaks with a customer during a visit of an ASDA supermarket in July 2022 as food prices soar.
This story was published on our Quartz Daily Brief newsletter, The concise, conversational rundown you need to start your day.
  • Susan Howson
By Susan Howson

News Editor

Published

Good morning, Quartz readers!


Here’s what you need to know

UK inflation hit 10.1% in July as food and energy prices soared. In response, British bond yields jumped to their highest point since 2008.

Apple may make products in Vietnam. The US tech giant is reportedly in talks to produce Apple Watches and MacBooks in the country, further distancing itself from China.

Tencent’s quarterly revenue dipped for the first time. The Chinese tech giant’s results were chilled by strict gaming regulations, covid lockdowns, and fewer ad sales.

Ships were delayed on the Rhine. Traffic jams affected about 20 vessels on the German river, due to one boat’s engine failure, not water levels. 

North Korea resumed weapons testing. The country fired two missiles yesterday morning, the first since a covid outbreak started in June.

India did a U-turn on Rohingya aid. An official had promised Muslim refugees housing in New Delhi, but India’s home ministry later said Rohingya will be held in detention centers and deported to Myanmar.



What to watch for

Two Pokemon characters riding a Pokemon-themed sleigh and wearing scarves, only they are also a giant balloon flying over a city building.
Image copyright: Eugene Gologursky

The Pokémon World Championships begin in London today, bringing together—in person and via Twitch streaming—players of all types, be they console, mobile, or card enthusiasts. One must catch ‘em all.

The colorful creatures’ franchise is managed by The Pokémon Company, founded by Nintendo and game developers Game Freak and Creatures two years after the first video games took the world by storm in 1996. Valued at around $92 billion, the Pokémon universe includes films, all sorts of merchandise, figure stickers, trading cards, mobile games—media Nintendo can leverage with every new game release. Console and games sales remain Nintendo’s revenue cornerstone, but in a quarter affected by semiconductor supply chain disruptions, it was playing cards that provided a sole, albeit minor, area of revenue growth.

Nintendo’s last major release ahead of the all-important holiday season is a Pokémon game for the Switch, so summoning all Pokémon masters a few months beforehand is a great hype opportunity.


China’s house party

China is desperate to revive its faltering real estate sector, which for years has contributed a sizable share of national GDP growth.

Attempts thus far include:

🏡 Lowering down payments

🏡 Issuing subsidies for home purchases

🏡 Allowing for bigger loans from the state-sponsored housing fund

🏡🏡🏡🏡 Leaning on party officials to buy many fancy apartments (??)

That last one was brought up in a speech by a party secretary, who said “If you’ve bought one, buy two. If you’ve bought two, buy three. If you’ve bought three, buy four.” That sure sounds like speculation, which president Xi Jinping has expressly criticized.

“Houses are for living in, not for speculation,” has become policy and a key part of Xi’s “common prosperity” program. More likely, the Chinese government will have to step in to support the struggling property sector, repair market sentiment, and do the hard work of reconfiguring the entire real estate industry.


Is a comic retelling of Elon’s life a Musk-see?

Among the thousands of shows at the Edinburgh Fringe, one of the world’s largest arts festivals, a particular performance caught the eye of Quartz’s Amanda Shendruk: “00:01 to Elaunch: the Immersive Muskperience.”

So, obviously, Amanda volunteered for a free trip down the memory lane that is Elon Musk’s life, which includes yachting with Peter Thiel, the cave-trapped Thai kids, and sleeping Tesla drivers. She emerged onto the streets of Edinburgh, pondering questions about the comedic value of an eccentric, absurdly wealthy CEO’s life. Is it funny by default?

✦ If you find that you absolutely Musk have Quartz in your life most days, consider becoming a member. Your support helps keep Quartz stories free and accessible to all. Daily Brief readers can take 40% off!



Quartz’s most popular

🙈 Did India hide the Russian origin of oil shipped to the US?

💳 With lower gas prices, Americans opened up their wallets in July

🌊 The world’s coastal cities are sinking, but not for the reason you think

🧳 Holders of the world’s most powerful passports are among the least likely to travel

🛒 How sustainable are the contents of your shopping cart? A new database has answers

👋 How to resign from a job you just started



Surprising discoveries



A fiery red and orange ball with some eruptions happening on it against a black background.
Image copyright: NASA handout
<b>Not a chorizo</b>

No, the pic above isn’t chorizo. It’s the sun releasing plasma bursts, which it did twice this week in an event that could send striking auroras as far south as New York.

A new date spot will help you weed out climate change deniers. The 18 holes at Brooklyn’s Putting Green mini-golf course are filled with themes of recycling and, you know, saving the planet.

China is blasting iodine rods into the air to make it rain. Authorities are trying to seed clouds as drinking water in rural areas dries up.

An 8-year-old chatted up an astronaut aboard the International Space System. It was apparently a blast, and we didn’t know licensed radio amateurs do this all the time?

Japan wants its people to please, please start boozing. The country’s alcohol tax revenue has slowed to a trickle.


Our best wishes for a productive day. Send any news, comments, aurora borealis photos, and ham radios to hi@qz.com. Reader support makes Quartz available to all—become a member. Today’s Daily Brief was brought to you by Susan Howson, Mary Hui, Sofia Lotto Persio, 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.