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Here’s what you need to know
Boris Johnson reshuffled his ministers. The British prime minister’s new appointees include the UK’s first female foreign minister, Liz Truss.
The EU will ban forced labor products. European Commission president Ursula von der Leyen’s state of the union speech indirectly criticized China—and encouraged the EU to assemble its own military.
Wall Street executives and Chinese regulators are attempting to find common ground. A virtual meeting today will include leaders from Blackstone, Goldman Sachs, and JPMorgan, according to Bloomberg.
The Indian government approved $3.5 billion in clean fuel incentives. The program will support manufacturers of electric and hydrogen vehicles as well as drones.
Joe Biden appealed to Disney and Microsoft CEOs for vaccine help. The US president hopes that big employers being on board with vaccine mandates will help move the needle, as the country’s Covid inoculation rate slows.
Lack of childcare support is holding the US back. A report by the US Treasury said that insufficient options and the high cost of those options were keeping parents from fully contributing to the economy.
What to watch for
Today, lawyers for Robinhood will try to get a judge to dismiss (again) Ice Cube’s claim that the brokerage misused his image and lyrics (pdf) in its Snacks newsletter in March. The rapper earlier argued that Robinhood paraphrased his lyric—“Check yo self before you wreck yo self”—without his permission. (Robinhood’s version was “Correct yourself before you wreck yourself,” referring to a correction in tech shares.)
The rapper’s complaint was frosty: he argued Robinhood’s “horrible” products and services are “the last things in the world to which Ice Cube would ever attach his image and likeness.”
The judge dismissed the rapper’s claims in June, saying a newsletter isn’t an advertisement and that Robinhood hadn’t indicated that Ice Cube endorsed the company. But the judge allowed an amended complaint, in which Ice Cube went on to argue that the newsletter is part of the brokerage’s marketing efforts.
Why are electricity bills so high in the UK and Europe?
Prices for electricity in the UK and Europe reached record highs this week, with average household bills for the month of August expected to be at least 20% higher than normal. The spike was caused by a combination of rising carbon credit prices, low output from wind farms, transmission infrastructure outages, and skyrocketing prices for natural gas.
The risk of natural gas price volatility will grow the more Europe, Asia, and the rest of the world rely on the energy source as a bridge away from coal. Frans Timmermans, the EU Commission’s top climate official, says the way to break the cycle is to accelerate the build-out of renewables like solar and wind.
Europe’s most famous mayor is running for president
On Sunday, Anne Hidalgo, Paris’s first female mayor, announced her intention to run for president. While Hidalgo has already garnered attention on the international stage and she’s the favored choice to win the nomination of her Socialist Party, she faces stiff opposition from current president Emmanuel Macron and far-right candidate Marine Le Pen.
If she’s elected, Hidalgo has indicated that she plans to expand on climate policies pioneered in Paris, turning France into a low-carbon economy while reducing inequality and bridging class divides. Here’s a quick rundown of what she’s accomplished as mayor:
20%: Decrease in car ownership in Paris since 1999
54%: Increase in bike usage from 2018 to 2019
1,000 km (620 miles): New bike lanes created
30 km/h (18 mph): The new city-wide speed limit for cars
Like Mayor Hidalgo, Quartz is obsessed with rethinking cities. ✦ Get access to all of Quartz’s coverage by becoming a member, now 40% off with code QZEMAIL40.
What we’re reading
💉 The best way to avoid new Covid variants is to delay booster shots. Everyone in the world needs to get their first doses.
👮♂️ The Democratic Republic of the Congo suspended Chinese companies over illegal activities. Beijing said it will impose sanctions on the businesses if they are found guilty.
⚽️ The US women’s soccer team got the same contract as the men. The announcement comes amid female players’ ongoing legal battle for pay equity.
💣 A Chinese property giant is a $300 billion time bomb for Beijing. Evergrande’s liabilities are roughly the equivalent of the overall public debt of Portugal.
🏭 A Nigerian oil palm startup raised $4 million to build a “smart” factory. Releaf aims to boost processing in the country to meet local demand.
👁 The new generation of contact lenses is designed to help eyes glued to screens. Millennials don’t want to switch to reading glasses.
Surprising discoveries
A sacred Native American site was auctioned off to the highest bidder. Osage Nation leaders were dismayed at the $2.2 million sale of the cave, which features ancient art.
Fireball Whiskey now comes in kegs. But just because it exists, doesn’t mean it’s a good idea.
British TV talks more about cakes than it does about climate change… A study counted the mentions.
…and the British PM got in a Twitter fight with Nicki Minaj. The American rapper’s vaccine hesitancy could be harmful to inoculation efforts.
Massachusetts called in the National Guard to drive school buses. The shortage of drivers across the US prompted the move to get Guard members trained to shuttle kids.
Our best wishes for a productive day. Send any news, comments, bus driver applications, and cake-related clips 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 John Detrixhe, Tim McDonnell, Camille Squires, Liz Webber, and Susan Howson.