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Here’s what you need to know
EU leaders reached an economic recovery deal. After four days of grueling negotiations, the 27 member states agreed on an $860-billion coronavirus stimulus package in the early hours of this morning. But poorer, harder-hit countries will have to make do with substantially reduced grants.
The UK released its report on Russian interference in its election. The long-awaited document recommends that “a continuing international consensus is needed against Russian aggressive action,” and says that the UK is one of the Kremlin’s “top targets.”
Uber is in court in London. The company is arguing, once again, that its drivers in the UK are not entitled to the minimum wage, paid holidays, and rest breaks. Two drivers filed a lawsuit in 2016, and Uber has already lost two appeals.
UBS earnings beat expectations. The Swiss bank, which is the world’s largest wealth manager, performed strongly in the second quarter of 2020, bringing in $1.2 billion thanks to its investment bank division as well as its wealth management business.
Disney fired an executive for “racially insensitive comments.” Barbara Fedida, who was senior vice-president of talent and business affairs at ABC News, had been accused last month of several instances of racist and derogatory remarks.
Trader Joe’s, meanwhile, is getting rid of “racist” packaging. A couple of thousand people signed a petition arguing that stuff like “Trader José” taco shells and “Trader Giotto” pasta are racist, and the company acted.
Screens of India, large and small
Home to the world’s largest film industry, India’s cinemas have remained shut during coronavirus lockdowns. BookMyShow, the country’s largest platform for movie tickets, has responded by hosting virtual events. In an interview with Quartz, co-founder Parikshit Dar spoke about the unprecedented economic hit, and how he’s hopeful that people will return to the movies.
Some Indians have been filling that missing movie time with the social music-streaming app Resso. When India banned 59 Chinese apps last month, the ByteDance-owned service slipped through the cracks—other platforms including TikTok, Vigo Video, and Helo weren’t so lucky. Overall, the app has been installed 10.6 million times, with about 74% of those coming from India.
Charting a hefty IPO
Ant Group announced its dual-market debut. The Alipay operator said that it will list on the Hong Kong Stock Exchange and on China’s Science and Technology Innovation Board in an IPO that could reportedly lift its valuation to $200 billion (✦ Quartz member exclusive). That would put Ant on par with Bank of America, and make it worth as much as Wells Fargo and Goldman Sachs combined.
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You asked about face shields
Can the use of face shields, without masks, successfully combat Covid-19? —Richard
While masks get most of the attention, over the last few months we’ve visited 3D face shield printers in Kenya, covered Ford’s efforts to manufacture 100,000 shields, and even offered DIY instructions to make your own. But how effective are they, really?
Unfortunately, the jury is still out. However, the CDC is clear that it does not recommend using a face shield as a substitute for a face mask. So the answer to your question, Richard, is no—face shields without masks are not a proven successful way to combat Covid-19.
Running low on masks? We’ve got you covered with a new article that explains how to make cloth face masks at home to World Health Organization specifications.
Surprising discoveries
The S&P 500 only moves after hours. The stock index has gained more than 30% since April—but it has posted all of its gains outside of regular trading hours.
TikTok witches hexed the moon. A renegade band of novice witches have angered the spiritual community through their act of irreverent magic.
London’s Beefeaters face layoffs. The iconic bodyguards are on the chopping block for the first time in their 500-year history.
Your face mask may be have been made by forced labor in China. An investigation found that masks that have been shipped all around the world were made by Uyghurs coerced into working at factories.
Uncuttable bike locks may be on the way. A new synthetic material inspired by grapefruit peels and abalone shells cannot be cut by angle grinders, drills, or water jets.
Our best wishes for a productive day. Please send any news, comments, ethical PPE, and after-hours stock tips to hi@qz.com. Get the most out of Quartz by downloading our app on iOS and becoming a member. Today’s Daily Brief was brought to you by Hasit Shah, Nicolás Rivero, and Max Lockie.