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The European Union and China meet. Top leaders from both sides will hold video conferences to discuss cooperating on post-pandemic economic recovery, and an investment deal. Tensions between the two have been rising over Europe’s accusations that Beijing has spread coronavirus misinformation, and the bloc’s criticism of China’s security law for Hong Kong.
Wirecard withdrew its financial results. The troubled German payments company said that the missing €1.9 billion ($2.1 billion) of cash on its balance sheet likely doesn’t exist. The firm’s shares have collapsed amid the scandal, and its credit rating demoted to junk.
The US and Russia restart disarmament talks in Vienna. Washington’s arms control envoy will meet with Moscow’s deputy foreign minister after a break of more than a year in the two nuclear-powers’ arms control negotiations. The US has asked China to join, but Beijing has declined.
Serbians went to the polls. The ruling conservative Serbian Progressive Party is projected to snatch a landslide victory in Europe’s first national election since the pandemic erupted. Many opposition politicians boycotted yesterday’s vote because the election was neither free nor fair.
Hundreds of rioters tore through Stuttgart. Partygoers angry at police drug checks in the southwest German city smashed shops and attacked police Saturday night into Sunday in what police called “unprecedented” violence. At least two dozen suspects have been arrested.
TikTokkers and K-pop fans said they derailed Trump’s rally. Even as coronavirus cases are surging in two dozen US states, president Donald Trump tried to reignite his reelection campaign with an event in Tulsa, Oklahoma. It was a flop, though, and teens online claimed credit for registering tickets but not showing up. Separately, US attorney Geoffrey Berman, who has investigated numerous Trump associates, was ousted.
What to watch for
Monday: The UK introduces new rules to protect businesses critical to the pandemic response from foreign takeovers. Trump plans to announce fresh restrictions on visas for foreign workers. Apple’s annual developer conference.
Tuesday: UK prime minister Boris Johnson is set to announce re-openings. Former Trump advisor John Bolton’s explosive new book is released.
Wednesday: Mongolia holds a parliamentary election, and Russia holds a Victory Day military parade in Moscow. Thailand debuts a one-baht ($0.032) savings bond.
Thursday: The Eiffel Tower reopens after its longest closure since World War II.
Friday: ASEAN hosts its annual summit remotely.
Charting Apple’s ascent over oil
The oil-and-gas sector, once worth a combined $3 trillion, is now worth less than Apple’s $1.5 trillion market capitalization. While Apple barely eked out a revenue increase in the first quarter, oil-and-gas companies are now in uncharted territory. ”The pace and scale of the societal impact of Covid-19 and the resulting deterioration in the macroeconomic and commodity price outlook is unprecedented,” Shell told investors, predicting the effects would likely extend beyond 2020.
For Members: The future of fossil fuels
Coronavirus’s impact on oil companies, from the biggest supermajors to small independent producers, was swift and devastating. In a matter of weeks, the world’s most valuable commodity had become practically impossible to sell. Is the crisis proof of the need to accelerate a transition away from fossil fuels? Read more in our field guide to the future of fossil fuels.
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Surprising discoveries
Underwear fabric for your face. Uniqlo’s Airism face masks, made from a breathable, moisture-wicking textile, are a hot ticket in Tokyo.
Fortnite removed police cars from its game. One of the most popular video games in the world will no longer feature cop cruisers amid widespread protests against police brutality in the US.
A project to map the world’s ocean beds is going swimmingly. Nearly a fifth of the entire ocean floor has been documented, and a complete map should to be ready by 2030.
Chess is going viral on Twitch. Last month, people watched over 8 million hours of the ancient boardgame on the streaming platform.
Hong Kong residents are erasing their internet histories. Many are worried about an impending crackdown from Beijing, which will soon impose a sweeping national security law on the city.
Our best wishes for a productive day. Please send any news, comments, undie masks, and scrubbed histories 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 Mary Hui, Tripti Lahiri, Anne Quito, Heather Landy, and Michael Coren.