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Here’s what you need to know
The World Bank canceled its annual “Doing Business” report. An investigation found that senior leaders at the bank allegedly put pressure on staff to improve rankings for countries including China.
A former Boeing pilot reportedly faces prosecution over the 737 MAX. According to the Wall Street Journal, US federal authorities are set to charge Mark Forkner for allegedly misleading regulators about safety issues.
Thousands of migrants are camping under a bridge on the US-Mexico border. They’re mostly from Haiti, US Border Patrol says, and are living with intense heat and poor sanitation.
Italy is implementing the toughest Covid vaccine mandates in Europe. All workers must have a valid Covid passport, or else they and their employers could face large fines.
The UK government is opening up travel. In a major overhaul of the rules, England is dropping many testing requirements for vaccinated travelers, and allowing people from more countries in, quarantine-free.
Home computing pioneer Clive Sinclair died aged 81. The British inventor’s affordable ZX Spectrum sold millions in the early 1980s; Elon Musk was among those who paid tribute.
What to watch for
It’s been a trying year for Chinese tech giant Alibaba, which held its annual general meeting today.
Shares have fallen nearly 50% since October, when its e-commerce operations were soaring. But since then, Chinese tech firms have fallen under regulatory scrutiny, and as one of the nation’s most prominent companies, the hammer has come down hard on Alibaba.
In November, regulators suspended the IPO of Ant Group, Alibaba’s fintech subsidiary, and in April, Alibaba itself was fined 18 billion yuan ($2.8 billion). The once ubiquitous Jack Ma, Alibaba’s billionaire founder, disappeared for months, and has kept a low profile since.
After decades of unprecedented economic growth, China is in the midst of an extraordinary reshuffling of its national priorities. Excessive wealth is now under attack, and industries from education to video games to casinos are feeling the heat.
Attention Shoppers…
As of today, there are fewer than 100 days between now and Christmas. Hanukkah is nearly a full month sooner, on Nov. 28. If you shop for end-of-year holidays, you may remember the cluster of delays that was Holiday Season 2020. We may be closer to the end of the pandemic this year, but brands are already warning consumers about snarled supply chains. Here’s how it all got so complicated:
🦠 March 2020: Covid put the brakes on production, but demand roared back more quickly than manufacturers could keep up with.
🚢 March 2021: The Ever Given overstayed its welcome in the Suez Canal.
😷 June 2021: An outbreak shuttered the fourth-largest shipping port in the world.
🚚 2021 thus far: Not enough people want to drive trucks.
📚Present day: The domino effect has made a whole lot of items hard to come by—and a lot of those items are frequently purchased for holiday presents.
You say Zomato, we say IPO
On July 16, food delivery company Zomato went public on India’s two major stock exchanges. By pretty much any metric, the IPO went spectacularly well.
The good news comes with a caveat. Until now, Zomato’s been able to operate in several countries, execute a handful of acquisitions, and experiment with new parts of its business away from the limelight. But it continues to operate at a loss, and its co-founder quit just two months after the IPO. As a public company, it’s bound to come under increased scrutiny.
Zomato’s IPO could open new doors for startups in India, and Ananya Bhattacharya tells you everything you need to know in this week’s issue of The Company. ✦ Don’t miss future editions—become a member now, and take 40% off with code QZEMAIL40.
What we’re reading
😎 The SpaceX Inspiration4 mission is cool as hell… but it’s not particularly inspiring.
🤳 The Met’s new fashion exhibit shows just how much Instagram is ruling the industry. The biggest influencer is the platform itself.
💪 Abortion rights are a workplace issue. And business leaders can help move the needle.
✈️ International flight attendants are suing United for discrimination. American colleagues got a better deal during the pandemic, they state.
🏢 France overcame NIMBYism to create affordable housing. The secret? Clear direction from the very top.
🚔 Porn lays bare the fact that financial firms are the creator economy’s new gatekeepers. We interviewed porn actress, model, and columnist Stoya on the perils of her profession.
Surprising discoveries
A Vincent van Gogh drawing was hiding in a private collection. “Study for Worn Out” is on display for the first time at the artist’s eponymous museum in Amsterdam.
A 37-year-old Japanese high school science project turned up in Hawaii… Students in Choshi had thrown glass bottles into the sea in 1984 to study ocean currents.
…and a 2006 fossil discovery by New Zealand campers turned out to be a new giant penguin species. Kairuku waewaeroa stood 1.4 meters (4’7 ft) tall.
Big Tobacco’s next bet is Big Asthma. Marlboro-maker Philip Morris has secured a majority stake in inhaler maker Vectura.
Martian bases could be made from bricks of human blood, sweat, tears, and urine. Well, it’s one idea.
Our best wishes for a productive day. Send any news, comments, messages in bottles, and Martian base designs 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 Hasit Shah, Oliver Staley, Liz Webber, and Susan Howson.