Good morning, Quartz readers!
What to watch for today
Thailand celebrates its ailing king. The 70th anniversary of King Bhumibol’s accession comes only days after he had heart surgery. A military junta took power two years ago as part of the complicated political jockeying ahead of an expected succession.
Barack Obama meets with Bernie Sanders. Hillary Clinton has clinched the Democratic nomination, but Sanders has vowed to fight on. Obama has yet to endorse a candidate in the 2016 race, but is expected to encourage Sanders to bow out and unify the party as it prepares to battle Donald Trump.
A close call on New Zealand interest rates. Economists are split on whether the country’s central bank will reduce rates to a record low of 2%—a choice between strengthening the New Zealand dollar or bolstering the housing market in major cities like Auckland.
While you were sleeping
Maria Sharapova was banned from tennis for two years for doping. The five-time Grand Slam winner admitted to using a banned drug that increases blood circulation, but said she will appeal her “unfairly harsh” suspension. Nike said it would continue its endorsement deal because Sharapova did not intentionally break the rules.
Narendra Modi bashed Pakistan in a speech to the US Congress. The Indian prime minister, on a mission to solidify increasingly friendly India-US relations, received roaring applause and standing ovations from lawmakers. He singled out Pakistan as an incubator for terrorism.
Lululemon is feeling limber. The Canadian apparel company posted a 17% rise in revenues (paywall) and raised its guidance for the full year, as it cleared out excess inventory and retooled its offerings to feature more elaborate designs for its signature yoga gear.
Sweden banned M&Ms. A Swedish court ordered international candy giant Mars stop selling its famous M&M chocolate candies in a trademark dispute, ruling that Kraft’s Marabou brand has the exclusive right to the lowercase “m” on chocolate-covered candies. Uppercase M&Ms, however, are perfectly fine.
Gunmen killed three people in Tel Aviv. Two men opened fire on patrons at an open-air dining and shopping complex around dinner time, in what police called a terror attack. They were taken into custody by security forces.
Quartz markets haiku
That squirrel is straining
To reach the perfect nut
But it just might fall
Quartz obsession interlude
Jason Karaian on the hot new discussion topic at the world’s most elite conference. “The ‘precariat’ is a term popularized by British economist Guy Standing, describing a growing class of people who feel insecure in their jobs, communities, and life in general… [and] is fueling the rise of populist politicians like Donald Trump in the US and similar rabble rousers in Europe and beyond.” Read more here.
Matters of debate
The app boom is over. People aren’t downloading new apps because they already have everything they need.
The most disruptive companies are dictatorships. Ruling with an iron first is how strong leaders change industries.
China’s “shadow” banks are a looming disaster. There are disturbing echoes of the US financial crisis.
Surprising discoveries
The face of undocumented US immigration is changing. More Chinese nationals are getting caught crossing from Mexico.
Americans are obsessed with presidential hair. The fixation goes back to the nation’s beginnings, when a presidential hair was a popular souvenir.
Beehive thefts are on the rise. The obvious suspects are other beekeepers, who have the rare expertise to safely handle them.
The Playboy mansion was sold to a Twinkie mogul. Hugh Hefner has the right to live there for the rest of his life.
Uber’s CEO doesn’t have a driver’s license. Travis Kalanick wants to end car ownership—though he does have a broken BMW in his garage.
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