Good morning, Quartz readers!
What to watch for today
Europe pushes China to open its markets. EU leaders are in Beijing for two days of discussions on economic and political relations. The EU wants its companies to have the same level of access that China enjoys in Europe. The summit is expected to ratify a $2.2 billion Chinese investment in a new EU infrastructure fund.
Bernie Sanders endorses Hillary Clinton. After months of bitterly fought primaries and weeks of negotiations, the Vermont senator is expected to formally endorse the presumptive Democratic nominee at an event in New Hampshire. His endorsement will probably ensure him a prominent speaking slot at the party convention this month.
Loretta Lynch appears before Congress. The attorney general will be questioned by the US House Judiciary Committee about the FBI investigation into Hillary Clinton, which concluded the Democratic presidential candidate shouldn’t face charges for using her private email to send classified information. Lynch is also under scrutiny for meeting with Bill Clinton days before the probe concluded.
While you were sleeping
The UN ruled that China has no “historic title” over the South China Sea. The case was brought to the Hague in 2013 by the Philippines, which challenged China’s sweeping territorial claims that it bases on a 70-year-old map. China had already vowed to ignore the ruling by the UN’s Permanent Court of Arbitration, saying it has no jurisdiction.
The British pound perked up a little. The news that Theresa May will become Britain’s new prime minister tomorrow had a positive effect on sterling (paywall), which opened up 0.7% at $1.30 in early European trading. This is its biggest one-day advance since June 28, but it’s still down 12% since the fateful June 23 referendum.
The IMF said the Italian economy won’t recover until the mid-2020s. The fund cut Italian growth forecasts, saying the country could expect “two lost decades” before it returned to levels seen before the financial crisis. By then, neighboring euro-zone economies can expect to be over 20% larger than they were in 2008.
Pokémon Go’s creator assuaged fears of snooping. Niantic, the mobile developer behind the game, stated it only collects users’ character IDs and e-mail addresses. A minor frenzy erupted when a security researcher said it might be possible for Niantic to read players’ emails and access Google Drive accounts.
Ikea recalled its dangerous Malm dressers in China. The Swedish furniture giant is withdrawing 1.7 million drawers amid safety concerns, after six children were crushed to death in North America when the dressers fell on them. Ikea already recalled 36 million Malms in the US and Canada last month.
Quartz obsession interlude
Samir Goel on loneliness in Silicon Valley. “The craze for building new co-working spaces is just a manifestation of the loneliness entrepreneurs face. Many in the industry have accepted the reality of their lifestyles and are looking for kindred spirits—people who will understand, and relate to, their priorities. Co-working spaces are a way to hang out with the kind of people who won’t be disappointed when dinner gets canceled for the fifth time in a row.” Read more here.
Matters of debate
The modern obsession with self-care masks society’s real problems. Focusing on fixing ourselves distracts us from fixing more important things.
Brexit wasn’t a revolt against the elite. It was one privileged group backstabbing another to climb a social totem pole (paywall).
Millennials will never retire, but they may be happier for it. A long professional life is associated with stronger social connections and better health.
Surprising discoveries
David Cameron hummed his way out of the job… A hot mic caught the outgoing prime minister savoring a jaunty tune after announcing the date of his departure.
…but Larry the cat is staying at Downing Street. The “chief mouser” does not belong to the Camerons and has been a fixture at No. 10 since 2011.
Everything we know about bubble tea, we owe to a typhoon. A storm-related bet prompted the internet’s crowdsourcing of favorite recipes for the sweet drink.
China has censored the name of a beetle. A researcher named the new species after president Xi Jinping, but the state was not impressed.
Taking an Uber is cheaper than going by subway in New York this summer. The cost-per-trip on the subway is $2.91, while the cost-per-ride on Uber’s monthly equivalent is $1.98.
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