Good morning, Quartz readers!
What to watch for today
Europe tentatively approves visa-free travel for Turkey. As part of the controversial refugee deal between Turkey and the EU, the Commission is expected to OK visa-free travel inside the 26-country Schengen zone. EU member states and the European Parliament could still reject it—and Turkey hasn’t fulfilled the 72 conditions that were a prerequisite to the deal.
Tesla reports its quarterly results. The electric-car maker is expected to post a loss, but sales could jump as much as 50%. Deliveries have been lagging this year due to a parts shortage for the Model X, and investors will be keen to hear the company’s plans to be profitable by year’s end and increase production of its new Model 3.
Takata announces an additional recall. Under pressure from US regulators, the Japanese air-bag manufacturer is expected to announce the recall of an extra 35 million to 40 million inflators in US vehicles—another huge number in what is already the biggest auto-safety recall in US history.
While you were sleeping
Donald Trump knocked Ted Cruz out of the race… His landslide victory in Indiana means he is now the presumptive Republican nominee for US president, with only John Kasich still challenging Trump before the Republican convention. Cruz left the race without any congratulations to Trump—and some prominent Republicans left the party.
…and Bernie Sanders kept his campaign alive for a wee bit longer. On the Democratic side, Sanders won in Indiana, but with Hillary Clinton’s commanding lead, it is likely too little, too late. She has almost double the number of delegates that he has.
Banks settled a rate-rigging lawsuit for $324 million. Seven of the world’s largest banks—including Barclays, Deutsche Bank, and Credit Suisse—faced allegations in a private US lawsuit that they conspired to rig a key benchmark rate for their own gain.
Adidas put its golf brands up for sale. The German sportswear company is looking for a buyer for its Taylormade, Adams, and Ashworth brands after slumping sales. The company will focus on clothing and footwear in its Adidas Golf line.
AB Inbev suffered in Brazil. The brewing behemoth’s first-quarter core profit rose an annual 2.5% to $3.46 billion, under the $3.73 billion analysts were expecting. Disappointing sales in recession-hit Brazil dragged down profit, but the company is pushing on to complete its $108-billion takeover of SABMiller this year.
Quartz obsession interlude
Jason Karaian on Claudio Ranieri, a new role model for corporate leaders. “The 64-year-old Italian coached the 5,000-to-1 underdogs to the unlikeliest of championships in the Premier League this season, with a backstory and style perfectly pitched to the modern management zeitgeist.” Read more here.
Matters of debate
Today’s chatbots are heartless. They get things done—but the chatbots of yesterday were designed to have pleasant conversations while offering useful information.
Ping pong can predict if the tech bubble is bursting. Sales of tables rise and fall (paywall) with the fortunes of startups.
Replays have ruined watching sports. Computers are used to double-check referees’ calls, but they’ve just bred anxiety (paywall) among fans.
Surprising discoveries
A high-schooler grew hundreds of “mini-brains” for scientific research. He did it with a device he 3D-printed.
Chanel held a fashion show—in Cuba. Guerrilla chic?
Zimbabwe is selling off its wildlife. The cash-strapped country needs to save the animals from a devastating drought.
Flying coach is bad for your mood. Passengers are more likely to fight on planes if they have to walk past first class.
Scientists may have found a cure for traumatic memories. A pill commonly prescribed to treat heart disease may help patients overcome their fears.
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