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The STAR market turns one. The first year of Shanghai’s tech-focused answer to Nasdaq has seen its listings pop by over 200% on their way to raising over $25 billion, but questions still linger over whether the numbers add up ahead of some high-profile IPOs.
A packed day in Washington, DC. While Congress debated a blossoming coronavirus relief bill now tipped to top $2 trillion, the Senate banking committee approved US president Donald Trump’s controversial Federal Reserve board of governors nominee Judith Shelton. Meanwhile, pharmaceutical executives updated the House Energy and Commerce Committee on vaccine efforts.
Speaking of vaccines… North Korea is working on a booster shot of its own despite officially reporting zero cases of the disease and the US Justice Department has accused Chinese hackers of targeting American companies researching Covid-19.
In response, US Secretary of State Mike Pompeo is using his UK trip to push for a new global coalition to counter China’s “disgraceful” behaviors. Some new behaviors from China include requiring a negative Covid-19 test to enter the country and a push at the World Trade Organization to rewrite rules around fisheries.
US west coast firms deliver. Disappointing user numbers from Snap sank the company’s stock in extended trading and earnings reports are due later today from Microsoft and Tesla. Over in Silicon Valley, Apple has pledged supply chain carbon neutrality while Nike, Unilever, and Microsoft released their own “Transform to Net Zero” manifesto.
Ergonomic solutions
“We’re certainly expanding our thinking about what is a great-looking ergonomic solution.”
That’s what Meghan Dean, the director of ancillary partnerships at Steelcase, the world’s largest office furniture manufacturer, told Quartz reporter Anne Quito on her quest to answer on the question on nearly every modern workers’ mind…Why doesn’t the perfect work-from-home chair exist yet?
Charting the return of the boomerang generation
Young adults in the US are moving home. Covid-19 has clobbered the job market for young Americans. As a result, the share of those in their 20s living with parents or grandparents jumped to 35% in June, up from 30% in January. Research from real estate company Zillow suggests it could depress rental markets in some cities.
For Members: Making antiracism work
This week we’re expanding our field guide on building an antiracist company with more examples of how organizations can create just and equitable workplaces.
- Diversity is a competitive advantage. S’More, an NYC-based dating startup, assembled a team of people from a variety of backgrounds to build an app with cross-cultural appeal.
- International principles can promote inclusivity. Lessons from the field of conflict resolution have helped inform companies looking for better ways to manage diversity.
- Open hiring gets results. A recruiting approach that avoids questions about education, experience, or criminal records can promote radical change.
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Surprising discoveries
We’re going to need a bigger boat. The famous gondolas of Venice are limiting ridership due to a growth in tourists.
Venus spits hot fire. The next closest planet to the sun is riddled with active volcanoes.
Paging Dr. Dada. An overlooked hospital storage room was found to be full of artwork by post-war masters including Willem de Kooning and Alexander Calder.
The hottest new accessory is a soccer team. Natalie Portman and two-year-old Alexis Ohanian headline a list of investors in Los Angeles’s nascent National Women’s Soccer League club.
You can’t pay Japanese people to travel. The country’s Go To Japan campaign that provides subsidies for internal tourism is wildly unpopular.
Joaquin Phoenix fans are intense. A hostage situation de-escalated only after the president of Ukraine recommended a little-known film about animal rights.
Our best wishes for a productive day. Please send any news, comments, giant gondolas, and the spoils of store(age) 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 Dan Kopf and Max Lockie.