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Here’s what you need to know
Huawei has a new chip center in China. With mounting pressure from U.S. sanctions, the Chinese company opened a new $1.4 billion center in Shanghai to drive its tech ambitions.
The Dow surged more than 700 points to a record high yesterday. Investors have high hopes that interest rate cuts are coming as soon as September.
United Airlines flight attendants might strike. Workers are calling on a vote to approve a mass work stoppage as management stalls on negotiations for the fourth year.
General Motors’ EV goals got murky. The car maker’s CEO Mary Barra doesn’t think the company can manufacture 1 million of the eco-friendly cars, in part because it’s an undeveloped market.
Netflix reports earnings on Thursday. Even with a dip in subscribers, the streaming giant has outperformed most streamers — and even the stocks of some tech giants.
Big banks had a big, big quarter
Six major U.S. banks reported second-quarter earnings to close out last week and begin this one, and the firms collectively showed signs of resilience that glided past Wall Street’s expectations.
Banks such as Morgan Stanley and Goldman Sachs pointed to an industry-wide rebound in investing banking as positive signs. Meanwhile, Bank of America said it was optimistic about net interest income, and even plans to dole out roughly $4 billion on new tech, including AI.
Will the good times keep rolling? Quartz’s Rocio Fabbro looked at the results.
High schoolers aren’t eyeing Big Tech jobs like before
The heydays of Google, Amazon, and Apple being flooded with bright-eyed, eager job applicants may soon be a thing of the past.
According to a survey by the National Society of High School Scholars, Gen Z job seekers (those between the ages of 12-27) are looking to other industries for that coveted big paycheck.
Quartz’s Britney Nguyen has more on where young workers could be applying to in droves.
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Surprising discoveries
Drug sniffing dogs in Ecuador found 6 tons of cocaine in a banana shipment. The K9s tipped off officials, stopping the $224 million package from reaching Germany.
Speaking of snow, Philadelphia’s airport got (actual) snow during a heatwave. The National Weather Service recorded the peculiar pattern over the weekend.
Many Americans don’t ever think they’ll quit their side hustle. According to a Bankrate survey, 1 in 3 people feel like one job doesn’t come close to cutting it.
An asteroid bigger than the Eiffel Tower will skim past Earth in 2029. Scientists say if the skies are clear, it should be visible to the naked eye.
Africa has a “sky island” rainforest with dozens of new dung beetles. Scientists who discovered the area say it has an odor “impossible to ignore,” but that with new species, it’s worth saving.
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Our best wishes on a safe start to the day. Send any news, comments, asteroid binoculars, and sky islands to talk@qz.com. Today’s Daily Brief was brought to you by Francisco Velasquez and Morgan Haefner.