Good morning, Quartz readers!
What to watch for today
Pokémon Go comes home to Japan. The mobile gaming sensation will finally launch in its home country, where part-owner Nintendo’s stock has been more than doubled since its debut earlier this month. McDonald’s has reportedly locked up a deal to turn over 3,000 Japanese locations into virtual gyms for Pokémon collectors.
The latest provocation in the South China Sea comes from Taiwan. Lawmakers will board military planes to disputed Taiping Island to promote their claim of sovereignty. Fishermen will also launch a flotilla to protest a recent international ruling rejecting territorial claims.
Intel’s cloud business could grow. The chipmaker’s quarterly revenue is expected to dip to $13.5 billion, from $13.7 billion a year ago, but it could still exceed expectations if restructuring efforts offset the effect of shrinking PC sales. Qualcomm and Morgan Stanley also report quarterly results.
While you were sleeping
Labour rebels united behind Owen Smith. British member of parliament Angela Eagle dropped out of leadership contention and gave her support to Smith, who is now the sole challenger to embattled party boss Jeremy Corbyn. Their contest is expected to intensify ahead of a Sep. 21 voting deadline.
Monsanto rebuffed Bayer. The American agricultural giant refused the German chemical company’s sweetened $55 billion takeover offer, calling it “financially inadequate.” Bayer competitor BASF is waiting in the wings as a potential Monsanto partner.
Goldman Sachs tightened its belt. The firm reduced its operating costs by 26% last quarter—including a 40% cut in bonuses, to a mere $73,000 per employee—as trading revenues continued to shrink. Profits were higher due to lower legal fees.
Turkey tried to convince the US to extradite Fethullah Gulen. Presidents Erdogan and Obama talked on the phone, and Obama promised to help investigate last week’s attempted coup. The White House said it is still examining documents from Turkey that make the case for giving up Gulen—a Pennsylvania-based cleric who’s accused of orchestrating the coup attempt.
Quartz markets haiku
Netflix got hammered
As a price increase dented
Subscriber growth. Ouch
Quartz obsession interlude
Allison Schrager on how sex workers keep people honest online: “Once the bill comes, clients might turn violent, or turn out to be cops. That means trust commands a large premium and that’s the centerpiece of Rita’s business model: watertight background checks on would-be johns.” Read more here.
Matters of debate
Workers displaced by robots deserve compensation. French philosopher Bernard Stiegler believes that “time saved through automation must be granted to the people.”
There’s good news to be found in the global economy, if you know where to look. About 1.5 billion people are no longer living in extreme poverty.
It’s too darn hot to work. Climate change will cost the global economy $2 trillion by 2030 as extreme heat curbs working hours, especially in Asia.
Surprising discoveries
It’s hard to be diplomatic around Boris Johnson. US secretary of state John Kerry couldn’t suppress a smile as a reporter listed some of BoJo’s most outrageous lines.
Malawi mounted an enormous operation to relocate 500 elephants. Helicopters, trucks, and cranes were used to move them to a park with more space.
The Republican National Convention is making people sick. About a dozen delegates are infected with a suspected norovirus, which causes intense vomiting.
The New York Public Library has a “human Google” phone service. Call 917-ASK-NYPL and a librarian will answer questions using 120 years worth of archives.
Sandals with socks are in this year. The longstanding fashion taboo is being violated in this summer’s menswear shows.
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