Good morning, Quartz readers!
What to watch for today
EU regulators take on video streaming. Netflix and Amazon would be required to devote at least 20% of their offerings to locally produced content under a new proposal, to be announced today, aimed at bolstering European film production. It could also force streaming companies to invest in local movies and series.
Xiaomi unveils its first drone. The device, made in partnership with FIMI Technology, will be 20% cheaper than a comparable drone from market leader DJI. Xiaomi is diversifying into other consumer gadgets as its smartphone growth has been dented by copycats.
HP reports its earnings. The printer and PC maker is expected to post (paywall) a further drop in revenue, after it recently split its hardware and enterprise businesses into two separate listed companies. Costco and Tiffany’s also post their quarterly results.
While you were sleeping
Greece reached a debt relief breakthrough with creditors. Eurozone finance ministers agreed to extend further bailout loans to Greece, as well as debt relief, after late-night talks in Brussels. The Greek parliament recently approved another round of spending cuts and tax increases.
Peter Thiel has been secretly funding a lawsuit against Gawker. The PayPal co-founder and Silicon Valley venture capitalist has paid the bills for wrestler Hulk Hogan’s legal action against the online media outlet, Forbes reported. Thiel has a track record of supporting press freedom.
Toyota and Uber struck a deal. They will co-develop apps and cooperate on research, and Toyota will provide a fleet of cars and make a “strategic investment” in Uber. GM and Lyft signed a similar deal recently, as carmakers align themselves with “alternative mobility” startups.
Bill Cosby’s sexual assault trial will go forward. The entertainer’s lawyers spent months trying to get the case dismissed, but a judge decided that prosecutors could move forward. The actor and comedian is charged with drugging and sexually assaulting a woman at his Philadelphia home in 2004—one of dozens of alleged attacks.
Monsanto wants Bayer to sweeten its takeover offer. The US agricultural giant rejected the German conglomerate’s $62 billion proposal but said it was still open to a deal. Monsanto executives and investors viewed the bid as too low, but Bayer’s investors may not support a higher price tag.
Quartz markets haiku
Open windows, doors
Spring breezes sweep the new house
Hopes rise—also, stocks
Quartz obsession interlude
Manu Balachandran on Narendra Modi’s masterful port deal with Iran. “On May 22, the Indian prime minister flew down to Tehran and the next day signed 12 agreements, including a deal to develop Iran’s Chabahar port. India will spend $500 million on the project, with a plan to invest an additional $16 billion in the Chabahar free trade zone. But Chabahar—located about 1,800 kilometres south of Tehran—is more than just a port with an adjoining free trade zone.” Read more here.
Matters of debate
World War III will be fought over water. Terrorism and conflict are fueled by competition for the increasingly scarce natural resource.
Retirement is an obsolete concept. Many seniors can’t stand the thought of spending their remaining healthy years idling in leisure parks, cruises, and retirement communities.
Rodrigo Duterte is no Donald Trump. The Philippines’ new president is terrifying in a completely different way.
Surprising discoveries
Angelina Jolie will be a university professor. The actress and activist will teach a course on sexual violence in conflict at the London School of Economics.
The solution to traffic jams may be a bus that straddles traffic. It would span two lanes and carry as many as 1,400 passengers.
Police and prison guards want to quash legal marijuana in California. The war on drugs is a big moneymaker for both groups.
A robot may soon be taking your Pizza Hut order. The cute/creepy humanoid named Pepper will be working at retailers around the world by the year’s end.
China has been making beer for 5,000 years. Newly discovered equipment suggests brewers used surprisingly modern techniques.
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