Good morning, Quartz readers!
Here’s what you need to know
Jamie Dimon shrugged at the Fed’s interest rate cut. The JPMorgan Chase CEO isn’t convinced that inflation will just shrink away without a fight.
Novo Nordisk’s experimental weight loss pill had some concerning side effects. Digestive and mood-related issues were documented, and it sent the drugmaker’s stock down on Friday.
A nuclear reactor at the Three Mile Island plant is being revived for Microsoft. The tech giant signed a 20-year deal to get crucial energy from the source for its AI ambitions.
Analysts don’t think that Nike’s CEO switch will be a quick fix. The brand’s underlying problems include declining sales and a lack of innovation, and improving those takes time.
A movie theater revival is coming this fall — and beyond
The current decade hasn’t been kind to movie theaters. Pandemic shutdowns ground operations to a halt in 2020, only to be followed by the dual Hollywood strikes in 2023, and, most recently, a heavy dose of inflation.
But if ever there was a time for a revival, movie theaters are spending like it’s starting this fall, and betting on a comeback that will stretch far into the second half of the 2020s.
Here are some key digits to know:
$2.2 billion: Investment that eight movie theater chains are pumping into their physical spaces over the next three years
1,600: Locations those eight chains operate
21,000: Screens they operate
$11 billion: Annual box office sales the National Association of Theater Owners is expecting by 2026
Quartz’s Bruce Gil looked into the new premium experiences chains like AMC, Regal Cinemas, and Cinemark are bringing to moviegoers.
Person of interest: Lina Khan
It’s hard to find a leader in the U.S. government that’s celebrated by Bernie Sanders and Matt Gaetz. But the chair of the Federal Trade Commission isn’t surprised by her bipartisan support.
Lina Khan’s aggressive stance on antitrust has been widely criticized by corporate America, and it’s exactly what has won her support from Congressional Democrats and so-called Khanservatives.
But not everyone is on the Khan train. Some major Democratic donors have called on Vice President Kamala Harris to fire her should she be elected to the White House in November. Quartz’s Will Gavin has the latest.
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Surprising discoveries
The first-ever National Urban Rat Summit took place in New York City. “Wow, I didn’t realize we were going to get so many people showing up to talk about rats,” Mayor Eric Adams noted.
Sharks are coming back to Boston. The city’s harbor has become an unexpected nursery for the fish.
It takes the equivalent of a bottle of water for ChatGPT-4 to craft one 100-word email. That cost quickly adds up to huge energy needs for AI (paywall).
A cat traveled 900 miles to California after getting lost at Yellowstone. The journey took two months.
Online astrology is gaining some serious traction in Pakistan. YouTubers are behind the growth.
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Our best wishes on a safe start to the day. Send any news, comments, rat summit takeaways, and Boston Harbor sharks to talk@qz.com. Today’s Daily Brief was brought to you by Morgan Haefner.