Good morning, Quartz readers!
What to watch for today
The UK gets a new prime minister. David Cameron will submit his resignation to the Queen and move out of 10 Downing Street to make room for Theresa May. She is building her cabinet and has vowed to carry out Britain’s exit from the EU.
Yum Brands tries to heat up lukewarm results. The owner of KFC, Pizza Hut, and Taco Bell is struggling with intense global competition as it prepares to spin off its Asian operations later this year.
Japan gets even gloomier about the economy. Reuters reports that President Shinzo Abe’s government is planning to cut its inflation forecasts to 1.4% for the year, well below its 2% target. That could raise the likelihood of expanded stimulus efforts by the Bank of Japan.
While you were sleeping
A UN court dismantled China’s claims in the South China Sea. The Permanent Court of Arbitration painted the country’s Communist Party as an environmentally destructive, dangerously aggressive government that has no legal jurisdiction for its actions. China, as expected, vowed to ignore the ruling; the Philippines and Japan announced plans to send warships there.
Two trains collided head-on in Italy, killing 23 people. The passenger trains crashed on a single-track line between the coastal towns of Bari and Barletta at 11:30am local time. Investigators suspect human error is to blame; dozens more were injured.
Bernie Sanders finally endorsed Hillary Clinton. A month after effectively losing the Democratic presidential primary campaign, Sanders appeared at a joint campaign rally with Clinton to put an end to their rivalry and unite the party against Donald Trump.
Venezuela put its military in charge of the food supply. President Nicolas Maduro is using the armed forces to monitor rations amid severe food shortages. The military will also be able to force private businesses to sell food to the government.
Airbus slashed its A380 delivery target. The aerospace giant only expects to deliver 12 planes in 2018—half of this year’s total—due to a glut of unsold planes. Airlines have largely opted for smaller, more efficient two-engine planes, putting the future of the super-jumbo A380 in doubt.
Quartz markets haiku
The Fed wants to run
The economy hot, and
Markets have noticed.
Quartz obsession interlude
Alison Griswold on why hotels should really start worrying about Airbnb: “People who booked on Airbnb, the argument went, were casual vacationers… But partnerships with AmEX GBT, BCD Travel, and Carlson Wagonlit Travel show that Airbnb for Business, if still young, is on its way to being taken seriously by the corporate community.” Read more here.
Matters of debate
Social media has ushered in a post-fact era. In the digital age, opinions and rumors masquerade as truth.
Your personal chatbot is actually a human. Low-paid workers, not AIs, are powering popular services from Facebook and other companies.
What’s up with the rise of female politicians? One theory: They tend to be non-ideological, compromise-oriented leaders.
Surprising discoveries
The Faroe Islands are using “SheepView” for mapping. They strapped cameras and GPS sensors to their plentiful livestock.
College-educated mobsters make more money. When wiseguys become even wiser.
Chemists accidentally created a brilliant new color. YInMN, a unique shade of blue, will be sold as paint this month.
Saudi Arabia is opening a winter amusement park. The “snow city” will feature a ski hill, snowmobile area, and “ice bumper cars” in the scorching desert kingdom.
Dinosaurs probably didn’t roar—they cooed. Fossils of their vocal organs resemble those of birds.
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