Skip to navigationSkip to content

What happened on June 10, 2021

The top news stories of the day included Brexit tensions at the G7, and ride-hailing giant Didi's IPO filing.

Italy's Nicolo Barella with Leonardo Spinazzola during training for Euro 2020
This story was published on our Quartz Daily Brief newsletter, The concise, conversational rundown you need to start your day.
Published

Good morning, Quartz readers!

Was this newsletter forwarded to you? Sign up here. Our incentives aren’t as extreme as those offered by some vaccine initiatives, but our referral program is still pretty fun. (More at the end of this email.)

Here’s what you need to know

Brexit is muscling its way into the G7 summit. Tensions have risen in Northern Ireland over customs checks with the rest of the UK, but Europe’s stance is that the post-Brexit arrangement is not up for renegotiation.

More than 350,000 people in Tigray are in a famine. An Ethiopian military campaign in the country’s northern region has created the worst manmade hunger crisis in a decade, a UN analysis says.

Didi Chuxing is filing for a US IPO. The popular Chinese ride-hailing company could be valued at $70 billion in the highly anticipated listing.

Amazon faces a $425 million privacy violations fine in Europe. Luxembourg’s privacy regulator is reportedly proposing the punishment over the company’s failure to follow the General Data Protection Regulation.

China made it easier to retaliate against US and EU sanctions… Under a new law, people and companies linked to foreign sanctions against Chinese entities could be subject to punitive actions.

…and Hong Kong will censor movies on national security grounds. The government announced that a film censorship regulation, traditionally lightly used, would be given expanded powers.

The European Parliament voted in support of Covid-19 vaccine patent waivers. That’s awkward for the European Commission, which has opposed such measures.

What to watch for

German footballer Jonas Hofmann during training on June 6, 2021
Image copyright: Reuters/Angelika Warmuth
Germany’s Jonas Hofmann, Quartziest footballer

The Tokyo Olympics aren’t the only collision of sports, nationalism, money, and Covid-19 this summer in the northern hemisphere.

The European men’s soccer championships kick off Friday, with Italy vs. Turkey in Rome. There are far fewer participating athletes than in the Olympics—just over 620 soccer players, compared to more than 11,000 competitors expected in Tokyo—but the logistics are still a huge headache.

While the Olympics are in just one country whose citizens are reluctant to host it, the Euros are spread across multiple borders in Europe. The Welsh team plays in Baku, Azerbaijan; the Swedes are in Seville. The games are on TV all over the world.

Quartziest player? Germany’s Jonas Hofmann (pictured above). He runs a property company, owns three branches of Subway, dreams of going to space, and enjoys reading.

If you’re fascinated by how the Tokyo Olympics will unfold, you’ll love our newest email (this includes you, Jonas). Once a day during the Games, Need to Know: Tokyo Olympics will keep you in the loop. Unlike a ticket to the Games, it’s free (and no mask required).

Put me in the game
Subscribe with one click

Charting how used car prices affect inflation

US consumer prices saw their biggest rises since 2008 last month, and the numbers are fraying the nerves of those worried that a long period of inflation is imminent.

There are several reasons why it’s not time to worry about inflation (yet). One big one is that much of the overall price rise in May can be attributed to used car prices, which had their largest increase year-on-year in nearly 50 years. And April wasn’t a whole lot better, thanks to sluggish production due to supply and transportation challenges.

A chart showing the US year-on-year price rises of all CPI items versus used cars and trucks, with the later category showing a major spike in the second half of 2020, and then an even bigger one in 2021.

Hey, G7 countries…

it’s time for you to put up or shut up about climate change. Many of the world’s biggest carbon polluters are among the seven richest countries, who are currently having their annual G7 summit. Their governments have taken some important steps towards climate finance in the last two months, and their decisions will set the agenda for more inclusive summits later this year.

But when it comes to cash on the table, most G7 countries are woefully behind. Analysis by the Overseas Development Institute compared G7 countries’ actual climate finance commitments to what ought to be their fair share of a goal first set during the 2009 Copenhagen climate summit for rich countries to raise $100 billion annually by 2020. The result shows that some countries (the biggest culprit has a name that rhymes with Queue Knighted Plates) aren’t paying nearly enough of their fair share, while some are going above and beyond.

A bar chart of G7 countries' promised climate finance commitments versus their fair share of hitting a $100 billion target.

✦ Where are those dollars, euros, pounds, and yen going? You’ll need a membership to read the whole story. You can grab one right now for a lot less currency (see below).

Handpicked Quartz

🕹 GameStop is trying to raise $1.5 billion without revealing its e-commerce strategy

🤝 European companies have no intention of decoupling from China

How to run a feminist company

🗣 A better way to communicate with white people about racism

📶 5G is opening up a slew of new job opportunities for Indians

💉 For all its “made in India” pitch, Covaxin is the most expensive Covid-19 vaccine in India

(Psst.☝️ We took the last story out from behind our paywall because we think everyone should read it.)

Surprising discoveries

Another lost dog was reunited with its owners… The pet went missing after a car crash, but turned up two days later happily herding sheep on a nearby farm.

…and a Chinese company debuted a $2,700 robotic dog. The Unitree Go1 can carry your water bottle while you’re out for a stroll and not crash into anything!

An echidna penis has four heads, but only two become erect at one time. Researchers found that’s because of a split in the organ’s main blood vessel. (Warning: This link contains a very graphic picture.)

McDonald’s BTS meal was so popular in Indonesia, officials closed four restaurants. They were worried the Korean boy band’s fans would spread Covid-19.

Polynesians were the first to visit Antarctica in the 600s CE. Western researchers are finally recognizing indigenous tales of a trip on a “frozen sea” to a “dark place not seen by the sun.”

Our best wishes for a productive day. Please send any news, comments, SFW pics, and resilient housepets to hi@qz.com. Get the most out of Quartz by downloading our iOS app and becoming a member. Today’s Daily Brief was brought to you by Sumnima Lama, Tripti Lahiri, Tim McDonnell, Samanth Subramanian, Hasit Shah, Susan Howson, and Liz Webber.

📬 Kick off each morning with coffee and the Daily Brief (BYO coffee).

By providing your email, you agree to the Quartz Privacy Policy.