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Hereâs what you need to know
Amazon won a big battle against Reliance Industries in India. The Indian supreme court upheld the US firmâs complaint about a major e-commerce deal involving Mukesh Ambaniâs conglomerate and Future Group, another Mumbai-based giant.
Joe Biden is pushing for the end of the great American gas-guzzler. The US president announced he will reinstate Obama-era fuel efficiency standards, and ordered that 50% of new cars should be electric by 2030.
A town in California burned down. Greenville, in the north of the state, fell victim to the raging regional wildfires. Meanwhile, parts of Greece and Turkey are also on fire.
Moderna is buying back $1 billion of its stock. The Massachusetts-based pharma company had another bumper quarter, and also recommended a booster for its Covid-19 vaccine.
The US offered Hong Kong residents safe harbor. The temporary program affords those who qualify a 18-month work permit, and a guarantee of no deportation.
Is Lionel Messi leaving Barcelona? The Argentine soccer player is still a free agent more than a month his contract expired, and the team now says the leagueâs financial rules mean they canât afford to re-sign him.
What to watch for
The Tokyo Olympics draws to a close this weekend with medal events in track and field, basketball, volleyball, rhythmic gymnastics, and the modern pentathlon, which began on Thursday (Aug. 5) and runs, jumps, fences, and swims through Sunday.
The sport is an ode to the original pentathlon of the ancient Olympics: a set of skills that any Greek soldier would need. Today, the sport is one of the most financially prohibitive, particularly due to the amount of equipment involved. Instead of gearing up for one sport, youâre outfitting yourself for fiveâand everything is expensive when thereâs a horse involved.
If you find yourself wallowing in Olympic withdrawal after the closing ceremonies on Sunday night, remind yourself that the Paralympics are around the corner and the 2022 Winter Olympics in Beijing are just six months away.
Charting Robinhoodâs market capitalization
After starting out as a dud, Robinhoodâs newly minted public shares are giving traders on Reddit plenty of meme material. The stock perked up after initially drooping below the IPO price, with some 176 million shares changing hands on Wednesday, more than the previous three days combined, according to FactSet data.
Robinhoodâs trading momentum pushed its market capitalization to about $59 billion, nearly double that of industry stalwart Nasdaq, the exchange operator, and to roughly the same as Swiss bank UBS, which has roots going back to the 19th century.
The brokerageâs stock lost steam after investors announced sale plans on Thursday, but its market cap still towers over Nasdaqâs.
More remote work = more remote learning
At least thatâs what Jeff Maggioncalda, CEO of online education platform Coursera, predicts. In our member email The Company, we chart Courseraâs massive growth during the pandemic, explain its history and how it makes moneyâand share the 10 most popular courses on its platform.
The Company and three other exciting new emails are available exclusively to Quartz members. Get 40% off a membership with code QZEMAIL40.
Handpicked Quartz
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đł Nigeriaâs awful Tokyo Olympics made Puma cancel a $2.7 million deal
đ US government agencies are failing to meet even basic cybersecurity standards
đĄ Why is the south the epicenter of anti-abortion fervor in the US?
𦿠An amputeeâs company will help Paralympians run and jump in Tokyo
Surprising discoveries
The US State Department is missing a $5,800 bottle of Japanese whisky. The liquor was gifted to former secretary of state Mike Pompeo andâpoofâit vanished.
Netflix tapped Paris Hilton for a cooking show. The only caveat is Paris Hilton doesnât know how to cook.
A new Barbie doll is based on a Covid vaccine developer. Sarah Gilbert led the Oxford University effort with AstraZeneca.
Machu Picchu is older than we thought. The Inca fortress was occupied between 1420-1530 CE, several decades earlier than previous estimates.
Wildcats have returned to the Netherlands. The cats were absent for centuries but have re-entered the forests in the southern part of the country.
Our best wishes for a productive day. Please send any news, comments, socialite recipes, and that missing whiskey, Mike, to hi@qz.com. Get the most out of Quartz by downloading our iOS app and becoming a member. Todayâs Daily Brief was brought to you by Hasit Shah, John Detrixhe, Scott Nover, and Susan Howson.