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Here’s what you need to know
Red Lobster’s new owners found the next CEO at P.F. Chang’s. Fortress Investment Group is putting 35-year-old Damola Adamolekun in charge of the seafood chain.
Mpox is a $135 million problem. The World Health Organization says it will need that much to combat an outbreak of the virus in the Democratic Republic of the Congo and neighboring countries.
Canada says no cheap EVs if they’re Chinese. The former plans to slap 100% tariffs on battery-powered exports coming from the latter.
A major messaging app CEO just got a brutal notification. Telegram’s Pavel Durov arrested in France as part of a mysterious criminal inquiry into the service.
Ozempic could soon have a “pretty amazing” competitor. Viking Therapeutics has a weight-loss pill on the horizon that many investors consider the category’s holy grail.
IS A NEW IPHONE ON THE WAY?
Apple has put a big announcement event — tagline “It’s Glow Time” —on the docket for September 9, which means that new gadgets from the tech giant are likely to soon be on their way.
The headliner is definitely a potential iPhone 16, but industry observers are also on the lookout for updates throughout the Apple product tree, from new charging ports on the AirPods Max Pros to new cases for the Apple Watch.
WHICH WILL BE THE LAST STORE STANDING POST-INFLATION?
The American shopper is down but not out. Though retailers have been glum lately about a retrenchment in spending, the tap isn’t completely dry yet.
Instead of doing their best to cope with rising prices in every facet of their lives, people are still spending — but are now much more mindful about doing so to fulfill big needs instead of little wants. That has big ramifications for companies dropping prices to get back into their customers’ wallets and good graces.
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SURPRISING DISCOVERIES
Half of New York bus riders don’t pay the fare. The MTA is trying to figure out what to do about it, because the agency is in the middle of a big funding crunch.
Arms manufacturers are raking in record dough. “Geopolitical tensions” from Ukraine to Gaza has governments around the world building up their arsenals.
Ghost jobs continue to haunt the labor market. One expert says that for every 10 job listings online, only four people are getting hired.
Crayola really cranks things up for back-to-school season. The iconic crayon manufacturer is pumping out 13 million of the little wax sticks a day this time of year.
Elon Musk spends more time posting about politics than Tesla. The Wall Street Journal analyzed 300,000 of the X owner’s words on the platform to chart his transformation into a Trump fanboy.
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Our best wishes on a safe start to the day. Send any news, comments, crayons, or Apple product guesses to talk@qz.com. Today’s Daily Brief was brought to you by Melvin Backman.