Good morning, Quartz readers!
What to watch for today
Narendra Modi speaks to the US Congress. The Indian prime minister will address a joint session during his visit as he meets Barack Obama. Modi and Obama have enjoyed an unlikely friendship as the United States looks for a counterbalance to China in Asia.
The US and China wrap up tense talks. US treasury secretary Jack Lew is pressing China to lower barriers to foreign business and cut excess steel production, with limited success. China called on the US to do more to help poorer countries fight climate change.
A pivotal Valeant earnings report. Despite recent turmoil, analysts expect a relatively drama-free quarterly report (paywall)—the first since Joseph Papa took over as CEO. He faces the difficult task of stabilizing Valeant’s business without drug price hikes or splashy acquisitions.
The World Bank’s Global Economic Prospects report for 2016. The report, due at 4pm ET, predicts 2.9% global growth this year, with modest recovery in advanced economies, that could still be held back by a more drawn-out slowdown in large emerging markets.
While you were sleeping
Hillary Clinton clinched the Democratic presidential nomination. With a Puerto Rico win and support from superdelegates, she reached the 2,383 delegates needed to become her party’s presumptive nominee, according to the AP. Bernie Sanders disputed counting the votes of superdelegates before the upcoming convention.
A bomb attack on a police bus in Istanbul killed 11. The bomb was remotely detonated as the bus drove through the busy neighborhood of Veznecile, near the touristy Beyazit Square. Istanbul governor Vasip Sahin said four civilians and seven police officers were killed; no group has claimed responsibility so far.
Verizon submitted a second-round bid for Yahoo’s core business. According to the Wall Street Journal, the telecom company planned a $3 billion offer (paywall) in this round—Yahoo is expected to hold at least one more round of bidding. Private-equity firm TPG was also expected to submit its second bid for the assets before Monday’s deadline.
Goldman Sachs is being probed over Malaysia’s 1MDB. US law enforcement officials are trying to determine whether the bank violated money laundering laws after failing to flag a transaction related to the Malaysian state investor 1Malaysia Development Bhd., the Wall Street Journal reported.
Shell said it was pulling out 10 countries. The Anglo-Dutch company plans to sell 10% of its oil and gas production to cut costs after its $54 billion acquisition of BG Group in February. It’s also reducing its capital expenditure from a planned $35 billion down to $29 billion and focusing short-term growth on deepwater projects in Brazil and the Gulf of Mexico.
Quartz obsession interlude
Sarah Leberstein on how Uber turns its drivers into modern-day sharecroppers. “As exploitative as arrangements like this are, they get even worse when the cost of business essentials like gas spike, or when Uber unilaterally lowers fares. Shawn Hofstede leased a 2016 Toyota Corolla from Xchange in November, paying $155 a week. When Uber slashed fares two months later, Hofstede went from making $200 to $140 in a weekend.” Read more here.
Matters of debate
Disgust was the driving force behind civilization. The need to escape parasites created a system of moral behavior.
Smart homes are still too dumb. The failure of Nest underscores the difficulty of connecting appliances to the internet.
Universal basic income is universally misunderstood. It’s actually about tax reform.
Surprising discoveries
There’s a robot that can check your bags at Geneva’s airport. It can navigate from the curb to the check-in desk all on its own.
“Hello Kitty” cantaloupes are coming to Japan. The melons have the cartoon character’s face grown on their skin.
“Gaokao nannies” are doing a roaring trade in China. The university graduates move in with schoolchildren and help them stay up to cram for their national exams.
A tiny Arctic tern clocked the longest migration ever recorded. It flew 59,650 miles—more than twice the circumference of the planet.
McDonald’s is giving away a special McNugget in Japan. Made from 18-karat gold.
Our best wishes for a productive day. Please send any news, comments, tired Arctic terns, and Japanese cartoon melons to hi@qz.com. You can download our iPhone app or follow us on Twitter for updates throughout the day.