Good morning, Quartz readers!
What to watch for today
Shanghai Disney’s grand opening. The entertainment giant has been working for decades to open its $5.5 billion theme park. The event may be partially overshadowed by tragedy in Orlando, where a young boy was killed by an alligator at a Disney resort, and a horrific mass shooting recently took place.
China’s Midea goes public with its bid for a German robot maker. Midea will publish the details of its $5 billion offer for Kuka, which makes industrial robots. German politicians have opposed the deal, complaining that Beijing does not allow western companies the same opportunities to invest in Chinese firms.
Art Basel opens in Switzerland. The world’s largest modern and contemporary art fair will showcase the work of more than 4,000 artists.
While you were sleeping
A Chinese internet giant is about to buy a Finnish videogame company. Tencent is reportedly in late-stage talks to buy a majority stake in Supercell, maker of the “Clash of Clans” mobile game, from Japan’s SoftBank Group. The deal would value Supercell at about $9 billion.
Didi Cuxing raised another $7 billion. The Uber rival now has over $10 billion in cash to cement its lead in China’s massive ride-hailing sector—including a $1 billion investment from Apple. Didi is now valued at more than $25 billion.
The World Health Organization announced a link between hot beverages and cancer. Researchers have concluded that drinks hotter than 65°C (149°F) can increase the risk of esophageal cancer. But don’t sweat it too much: Most coffee and tea is served at a lower temperature.
SpaceX’s rocket landing ended in a bang. Elon Musk’s company delivered two communications satellites to orbit, but the attempted landing on a floating ocean platform ended in a “rapid unscheduled disassembly.” SpaceX is trying to perfect reusable rockets to slash 30% from the price of a typical launch.
The Fed held interest rates steady. The US central bank decided that it’s still not time for a rate hike, and also pared back expectations for future US economic growth. Federal Reserve chair Janet Yellen signaled that she still expects to carry out two interest rate hikes this year.
Quartz markets haiku
Barely audible
Over the noisy market
A dove is cooing
Quartz obsession interlude
Ana Campoy on how “the old Cuba” has already disappeared. “A Canadian traveler I met in Cuba’s uber-touristy enclave of Varadero told me she had made a point of booking her trip for this year, so she could catch a last glimpse of the Communist-ruled island before it changes. She got there too late. Our mojitos already had mint.” Read more here.
Matters of debate
Orlando was not the US’s deadliest mass shooting. There is a long US history of violence against minorities and gays that was just as bad, or worse.
Netflix is threatened by its own revolution. The streaming service may not be able to survive in the brave new world of streaming TV.
The US is failing its youngest generation. More than 20% of children live below the poverty line, including more than half of those in public schools.
Surprising discoveries
London wants to make its subway font quirky again. “Johnston” lost some of its unique sensibility when it was adapted for the digital age.
A Chinese village is under siege from wild monkeys. A plan to attract more tourists massively backfired.
The latest weight loss device is super gross. It drains your stomach contents after every meal.
Siberia has a “gateway to the underworld.” That’s the name locals have given a huge crater that opened up due to climate change.
A scammer sold phony bomb detectors to war-torn countries. The useless devices resulted in the deaths of hundreds of people.
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