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Here’s what you need to know
A US federal grand jury indicted a former Boeing pilot. Prosecutors say Mark Forkner lied about the automated system that’s been blamed for the deaths of 346 passengers in the company’s 737 MAX planes.
The Texas abortion ban is back in place. A federal appeals court backed the state after a judge temporarily suspended restrictions last week.
Bank of America’s quarterly profits rose 58%. It’s a further sign of economic resurrection in the US, with the bank able to release more than $1 billion of its reserves for pandemic loan defaults.
LinkedIn is shuttering its networking platform in China. The country’s regulations around content became too much for the Microsoft-owned site, which will replace its current offering with a job board.
TSMC will build a new chip factory in Japan. It won’t help the global shortage anytime soon though, as the plant won’t begin construction until late 2024.
What to watch for
Instacart workers are planning to strike—i.e., log off the grocery delivery app—starting Saturday until the company agrees to a series of demands. It’s not the first time they have protested during the pandemic, and they’re not alone: Employees at Nabisco and John Deere are also on strike. In a tight labor market, workers feel they have the power to ask for more.
Here’s a look at the digits:
>500,000: Number of Instacart workers (which Instacart calls “shoppers”)
$7 base pay: The lowest base pay floor, which can cover up to three orders at once. Instacart workers are demanding an increase.
5: Total demands of the strike, including occupational death benefits and a 10% default tip (instead of 5%)
$1.5 billion: Instacart’s reported revenue last year
45%: The share of the US grocery delivery market held by Instacart, just behind Walmart, as of July
European wine is in trouble
In an attempt to safeguard Europe’s vineyards, the European Commission’s contribution to harvest insurance for wine will increase from 70% to 80% for the next 12 months. Additionally, the government is doubling its support for setting up mutual funds for vintners.
Vineyards are recovering from a particularly harsh season—on top of the pandemic. In April alone, frost caused damage at 80% of French vineyards. That’s troubling for wine drinkers now and in the years to come. Over 70% of wine exports by value come from the EU, according to data from the International Trade Centre.
Netflix binging knows no borders
As they’ve long done with wine, global consumers are beginning to appreciate the specific terroir of entertainment grown on foreign shores. ​​In 2014, Netflix gambled its audiences would watch content produced in countries around the globe. Fast forward to 2021, and there’s a very good chance that, if you’re a Netflix subscriber, you’ve seen the South Korean apocalyptic drama Squid Game, no matter where you live or what language you speak.
The Squid Game phenomenon underscores a fundamental change taking place in the viewing habits of western audiences, largely fueled by the broad, location-agnostic Netflix catalog. Though some viewers have started entire web forums around trying to get the platform to stop recommending foreign cinema, the reason Netflix’s algorithm includes content from all over is not some sort of kumbaya-like mission to unite the world. It’s simply discovered that investment in non-Hollywood movies and shows pays off, because people like them.
Coming up, we’ve got a whole edition of The Company focused on Netflix, so you’re going to want to add it to your queue. You’ll need a membership, though—sign up today and get 40% off with code QZEMAIL40.
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Surprising discoveries
A Boeing 720 sat idle at an Indian airport for 24 years. How it got there became something of a legend.
The North Korean won is stronger than ever. It’s a bit of a head scratcher, given the country’s economic troubles.
The Wizard of New Zealand is out of a job. Christchurch City Council has paid Ian Brackenbury Channell​ NZ $368,000 (US $259,000) since 1998 for his mystical services.
Criminals faked a company director’s voice to steal $35 million. The “deep voice” audio clone helped convince a bank manager a series of money transfer requests were legitimate.
The plot of Armageddon may not have been that farfetched. Nuking an incoming asteroid could actually save the Earth from complete disaster.
Our best wishes for a productive day. Send any news, comments, wizard CVs, and stray airplanes 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, Adario Strange, Michelle Cheng, Clarisa Diaz, Susan Howson, and Liz Webber.