Good morning, Quartz readers!
What to watch for today and over the weekend
Puerto Rico’s biggest default yet. The island says it cannot make a scheduled payment of $1.9 billion due on Friday, despite the passage of legislation that will enable it to restructure some debts.
Protesters march in Hong Kong… Large demonstrations are expected in Hong Kong, where July 1 marks the anniversary of the city’s return to Chinese rule. Tensions are running high after several booksellers have been kidnapped by security forces for selling anti-Beijing texts.
…And in London. Thousands plan to march against Brexit in London on Saturday, with organizers calling on Parliament to refuse to accept the referendum “as the final say.”
Australia’s nail-biter of an election. Prime minister Malcolm Turnbull and his right-wing Liberal Party face a tough battle with the leftist Labor Party and its leader Bill Shorten in Saturday’s election. Australia, like the US and UK, has been riled by anti-establishment discontent.
While you were sleeping
Tesla reported the first human death in an autonomous car. US safety regulators are investigating a Tesla that was in “autopilot” mode when it crashed into a truck, killing the Tesla driver. CEO Elon Musk said it was a “tragic loss.”
Boris Johnson retreated. The leading campaigner for Brexit unexpectedly announced that he will not try to become the next UK prime minister. His decision leaves a wide-open race to lead Britain through EU exit negotiations, with Michael Gove and Theresa May as lead contenders.
Mark Carney diagnosed Britain with “economic post-traumatic stress disorder.” The Bank of England governor warned politicians that a post-Brexit economic downturn is imminent. The central bank plans to will unleash a round of monetary stimulus to cushion the blow.
Hershey rebuffed an offer from Mondelez. The snack giant that owns Oreo and Cadbury made a $23 billion bid to take over the US candy company. But the charitable foundation that controls Hershey’s voting shares said no thanks, adding that it sees “no basis for further discussion.”
The US lifted its transgender military ban. It’s a historic move, allowing transgender Americans to serve openly in the US armed forces. The shift was widely expected after a study found it would have no adverse effect on military readiness.
The Istanbul airport bombers were from Central Asia. The three men were from Dagestan, Uzbekistan, and Kyrgyzstan, according to a Turkish official, though their identities have yet to be confirmed. The attack killed 44 people and injured more than 200.
Quartz markets haiku
RIP first half
It wasn’t completely bad
Just terrifying
Quartz obsession interlude
Ana Campoy on how US employers found a new way to make money off undocumented immigrants. “While it’s common knowledge that immigrants in the country illegally use fake papers to get a job, in some cases it’s supervisors at the employer who provide the fraudulent documents, a study published earlier this month in the journal Anthropology of Work Review suggests. The practice is so widespread in California farming communities that immigrants subject to it have a name: ghost workers.” Read more here.
Matters of debate
Apple is stomping all over its competition. Congress is taking notice after Spotify complained about onerous terms in the App Store.
The myth of millennial entitlement was created to hide parental mistakes. The younger generation’s lifestyle isn’t a choice.
The global wave of populism can become an honest revolution. Human capital, infrastructure, and the legal system all need reforms.
Surprising discoveries
Step away from that raw cookie dough. The FDA has linked it to an outbreak of E. coli that infected a large batch of flour.
Cannabis could be the key to treating Alzheimer’s. A new study shows THC helps reduce plaque build-up and inflammation.
Nestle is bottling water in the desert. Its new plant is causing outrage in Phoenix, Arizona, which is facing a drought.
A 10-year-old girl won a PhD-level fellowship to build a beautifying robot. She wants to make the sad streets of Paris more happy.
The next great fighter pilots are likely to be AIs. They are much faster and don’t need ejector seats.
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