🌍 High times in Russia

Good morning, Quartz readers!

Here’s what you need to know

Russia is now a “high-income” country because of its military spending. The upgrade from the World Bank puts it on the same standing as the U.S. and western Europe.

Samsung stock hit a three-year high. The South Korean tech giant is riding a high of solid profits thanks to AI and chip demand.

On the note of AI: China’s homegrown models are expanding. Quartz put together a list of the country’s top artificial intelligence competitors and firms.

Amazon’s algorithm came under scrutiny in Europe. The European Union asked the company to provide information on how it’s complying with transparency and safety standards.

JPMorgan Chase might start charging customers for checking accounts. That is, if new federal rules curtailing overdraft and late fees go into effect.

Shell’s green energy bet is costing it $1 billion. The write down involves a biofuels plant in the Netherlands that was supposed to go live this year but isn’t even close to being ready.

Tesla’s stock turnaround has been Titanic

Better-than-expected second quarter deliveries have done wonders for Tesla — so much so that the worst-performing stock in the S&P 500 isn’t that anymore.

The meteoric rise in the EV-maker’s stock has all but reversed its poor performance this year, and padded CEO Elon Musk’s pockets with a cool $10 billion in share value.

“In a nutshell, the worst is in the rear-view mirror for Tesla as we believe the EV demand story is starting to return to the disruptive tech stalwart… with the bears now heading back into hibernation mode and their caves,” Wedbush analyst Dan Ives wrote in a research note Friday. Things are even looking up for Musk in Germany, where Tesla is one step closer to making its dream of producing 1 million EVs at its gigafactory a reality.

Parent-influencers can’t pocket all the cash

At least that’s what a new law in Illinois is trying to avoid.

It requires parent-influencers to pay their kids if they’re featured in at least a third of paid content. That money has to go into a trust fund that the child can access once they’re 18, per the new law.

The legislation was inspired by a high schooler — and a 1939 law. Ben Kesslen has the latest about the measure for Quartz.

More from Quartz

💉 Ozempic and other GLP-1 drugs could reduce risk of cancer for diabetes patients

😡 Airport complaints hit a near-record high last year

💰 Nvidia CEO Jensen Huang sold $169 million worth of stock last month — the most ever

🍺 Foreign beers are beating domestic heavyweights in the U.S.

🐶 A third of millennials and Gen Z-ers would take a pay cut for more time with their pets

💻 Crypto hacking heists have doubled to $1.4 billion in the first half of 2024

Surprising discoveries

Scientists may have created a blood substitute that actually works. At least it definitely works better than milk (yeah… milk transfusions were a thing).

The core of the Earth likely has a 70-year spin cycle. Right now, it has slowed down so much that it’s going in reverse.

Half of Americans don’t have enough money to take a vacation this summer. One destination in particular is really feeling the pain of inflation: Disney World.

The world’s oldest known picture story was found in Indonesia. The tale was painted on a cave about 51,200 years ago

The Caesar salad is 100 years old. Its birthplace has nothing to do with Julius Caesar and everything to do with Tijuana, Mexico, and it was originally called the aviator salad.

Did you know we have two premium weekend emails, too? One gives you analysis on the week’s news, and one provides the best reads from Quartz and elsewhere to get your week started right. Become a member or give membership as a gift!

Our best wishes on your day. Send any news, comments, ancient picture stories, and aviator salads to [email protected]. Today’s Daily Brief was brought to you by Morgan Haefner.