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The Bank of England extends its spending spree. Like the US Fed, which began buying corporate bonds this week, the British central bank is expected to announce fresh support to the UK economy after its monetary policy meeting today. It is likely to add £100 billion ($125 billion) of bond buying to existing plans of £645 billion of purchases.
Canada lost out at the UN. Despite a four-year campaign that enlisted Céline Dion, Canada lost its bid for one of two rotating seats on the UN Security Council, a humbling setback for prime minister Justin Trudeau who campaigned with the slogan, “Canada is back.” Norway and Ireland got the votes to take the spots for the coming term.
The US pulled out of talks with Europe on digital taxes. The two sides had agreed in January to negotiate a way out of the dispute, after Washington threatened to retaliate against attempts by France and Britain to place levies on US tech giants’ Europe revenues. US trade chief Robert Lighthizer yesterday told Congress the talks weren’t going anywhere.
Mike Pompeo held a secretive meeting with Yang Jiechi… The US secretary of state chatted with China’s top diplomat in Hawaii for nearly seven hours—but the meeting is unlikely to do much to repair a relationship at its lowest point in decades. Meanwhile, China moved forward with a stifling security law for Hong Kong, among one of the many sources of tension in their relations.
…while John Bolton spilled Trump’s secrets. Government lawyers are trying to stop the release of the former national security adviser’s new book. An excerpt published shortly before Trump signed a law condemning China’s human rights abuses against Uyghurs, says that Donald Trump told Xi Jinping that China’s imprisonment of Uyghurs in detention camps was “the right thing to do.”
Charting distorted inflation numbers
Covid-19 has radically changed what consumers are spending money on—a lot more on food, a lot less on transportation and clothes. Those sudden shifts mean government inflation data is way off, says Harvard Business School economist Alberto Cavallo, one of the world’s leading researchers on the subject.
For a recently released study, Cavallo attempted to calculate inflation after accounting for changes in what people are buying. His adjusted inflation figures were higher than official ones in 11 out of the 17 countries he looked at.
Quiz: Are you suited for remote work?
Give yourself a point for each of these attributes that describes you:
- Conscientious
- Structured
- Considerate
- Sympathetic
- Efficient
High score: People who possess these traits are seen as dependable, strong in relationship building, and effective at self-management—all key to success in a distributed work environment.
Low score: Don’t stress if those personality characteristics don’t resonate with your own working style. As Tomoko Yokoi, a digital business transformations researcher, writes for Quartz, there are ways to adjust your behavior to improve others’ perception of you. And just remember that everybody is adjusting together. Figuring out the remote-working norms at your company will take time.
For Members: Europe’s low-cost airlines are flying high
Which European airline stock is the better bet right now? It might seem counterintuitive, but Morgan Stanley recommends low-cost carriers that didn’t receive billion-dollar government bailouts over the big national airlines.
With a large swath of European countries poised to reopen for air travel within the continent by July 1, read more on what that might mean for its airlines (✦ Quartz member exclusive).
✦ You know what’s always a good bet? A Quartz membership, obviously. Access our stories, presentations, field guides, workshops, and more with a seven-day free trial. ✦
We’re obsessed with videoconferencing
Sorry, you go ahead. Millions of us would be rather lost by now without our videoconferencing tools, which allow us to stay close to each other while also peering into the fascinating lives of our colleagues. Once a clunky technology without enough payoff, videoconferencing so quickly became an essential part of the way we live and work that it’s unlikely to go anywhere anytime soon. Unmute your eyes, it’s time to read the Quartz Weekly Obsession.
Surprising discoveries
Disposable urinals are this summer’s It item. Avoid public restrooms by using a chemical-filled bag you can throw away later.
These notepads are edible. They’re made from recycled paper waste and come with coffee-flavored pens.
A whole new meaning to card shark. A betting site now lets gamblers place bets on sharks’ migratory habits.
Queen bees quack when they’re ready to roam. They also fight to the death with other queen bees.
Long-distance pets are helping Indians beat lockdown blues. Virtual adoptions start at just $40 a month.
Our best wishes for a productive day. Please send any news, comments, edible office supplies, and long-distance pets to hi@qz.com. Get the most out of Quartz by downloading our app on iOS or Android and becoming a member. Today’s Daily Brief was brought to you by Tripti Lahiri, Isabella Steger, Dan Kopf, Susan Howson, and Liz Webber.