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Here’s what you need to know
Sanofi bought an mRNA company. The French pharmaceutical firm spent $3.2 billion to acquire Translate Bio—the move is widely interpreted as an endorsement of mRNA technology beyond the pandemic.
Chinese gaming stocks tumbled. Concerns about looming regulation caused Tencent and others to suffer after a Chinese state-run outlet called video games “spiritual opium.”
Kamala Harris will go to Asia. When the US vice president travels to Singapore and Vietnam later this month, she will focus on regional security and economic partnerships.
302 people have been confirmed dead in China floods. 50 people are still missing in Henan province since heavy rainfall hit on July 20.
70% of Americans have received one Covid shot. The milestone was reached about one month after Joe Biden’s goal of July 4.
New York’s governor sexually harassed multiple women. The New York attorney general’s report found that Andrew Cuomo exhibited “unwelcome and nonconsensual touching” and made “suggestive” comments.
What to watch for
Investors expect Toyota’s hot streak to continue. The Japanese automaker reports earnings today amid a pandemic-fueled surge in car sales. Toyota hopes to continue the momentum from last quarter when it triumphantly posted a 73% year-over-year increase in sales, unseating GM as the top auto seller in the US in the process.
But in the long run, Toyota’s success depends on its ability to produce carbon-free cars that rely on alternative fuel sources. Unlike most other automakers, Toyota originally bet big on hydrogen fuel rather than electric. (The Olympic torch in Tokyo is hydrogen powered, a nod to Toyota’s sponsorship.) But with hydrogen-powered cars lagging badly behind electric vehicles, the company has adjusted course, slating a line of electric vehicles for release in 2025, as it struggles to catch up to the rest of the industry.
Charting how infrastructure spending affects cities
The US Senate has decided to advance debate on a $1 trillion infrastructure bill whose full text was released on Sunday. The bipartisan compromise is much smaller than the original $3 trillion legislation package proposal, but is still the largest investment in US roads, waterways, and electric utilities in a generation.
At the forefront are US metros, where the majority of US residents live. Urban cores and their surrounding suburban areas stand to benefit from road improvements and carbon emission reduction, and their future will be shaped by desperately needed public transit investment and improvements to public utilities.
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Handpicked Quartz
(👇As always, the first story in this list is paywall-free.)
🍆 What it takes to be the largest condom brand in sex-shy India
🔀 The best startup ideas have multiple paths to success
🔎 The IOC is investigating two Chinese medalists who wore Chairman Mao pins
🍽 Can mandatory vaccinations bring back restaurant workers?
🏑 What an Olympic medal would mean for Indian field hockey
👽 Are companies with Covid vaccine mandates alienating customers? Who cares!
Surprising discoveries
Cities make us happy. New research found lower rates of depression in people who live in large urban areas.
As Earth’s days grew longer, bacteria released more oxygen. New research from Lake Huron explains how early organisms developed.
Germany is testing electric highways. The idea could reduce truck emissions, but it’s still in the early stages of development.
California’s bacon supply is at risk. A new law, supported by voters, will force more humane conditions for animals, but only 4% of hog farmers are currently in compliance.
An alpha female has taken charge of a Japanese macaque reserve. This is the first time in the reserve’s 70-year-history that a female is in charge.
Our best wishes for a productive day. Please send any news, comments, alpha females, and bacon hoards 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 Camille Squires, Nicolás Rivero, Scott Nover, and Susan Howson.