Good morning, Quartz readers!
What to watch for today
South Africa’s oil workers go on strike. Roughly 23,000 employees in the petrochemical and pharmaceutical sectors are planning to walk out to demand higher pay. Refineries run by Shell, BP, Chevron, and Sasol may face shortages.
Peru’s new president is sworn in. Pedro Pablo Kuczynski clinched his narrow election victory last month by promising to reduce corruption. But the Oxford- and Princeton-trained economist doesn’t have many allies in Congress: His party holds only 13 of 130 seats, while his rival’s party holds 73.
Earnings: Alphabet, Amazon.com, CBS, Cigna, the New York Times, Royal Dutch Shell, and Volkswagen are among the many firms reporting quarterly financial results.
While you were sleeping
US Democrats bolstered Hillary Clinton. At the Democratic National Convention, president Barack Obama praised Clinton’s toughness. Vice president Joe Biden said Trump doesn’t have a clue about the middle class. Clinton’s running mate Tim Kaine spoke Spanish, including “somos américanos todos” (“we’re all Americans”), to create a sharp contrast to Trump’s divisive rhetoric.
Facebook extended its impressive winning streak. The social media behemoth demolished quarterly revenue and profit expectations, as daily users hit 1.1 billion and its dominance of mobile advertising grew. Earnings nearly tripled, even as spending on R&D increased sharply.
The Fed is feeling more confident. The US central bank said risks to the economy are on the decline, as the labor market improves and prices get closer to its 2% inflation target. That makes it much more likely that chairwoman Janet Yellen will hike interest rates in the next few months.
Donald Trump asked Russia to hack Hillary Clinton. He made the startling declaration in a press conference: “Russia, if you’re listening, I hope you find the 33,000 emails” that he says are missing from Clinton’s server. Many reacted with alarm at the apparent request for Moscow to meddle in the US presidential election.
Apple sold its billionth iPhone. That’s about one smartphone for every three people on the planet with access to the internet. Since the iPhone launched nine years ago, Apple has shed the “Computer” from its name and helped bring about a revolution in the way we communicate and share information.
Quartz markets haiku
“Near-term risks to the
economic outlook have
diminished.” Super!
Quartz obsession interlude
Jenni Avins on the fetching fashion choices of Hillary Clinton’s husband. “Bill’s stately-but-approachable appearance and middle-of-the-road fashion choices make him a terrific candidate for the supporting role of first spouse of the United States. (He was also the 42nd president of the United States.) He may lack current first lady Michelle Obama’s upper arm strength, but he makes up for it with a nice head of hair.” Read more here.
Matters of debate
Trump’s loose talk on Russia could undo a century of hard-won geopolitical gains for the US. He’s a dangerously naive political amateur being snookered by Russian president Vladimir Putin.
The Philippines’ South China Sea problem isn’t just about China. It has one of the “weakest and rustiest” navies in southeast Asia.
Autonomous cars should follow the lead of autopilots. That means making sure drivers recognize the limits of technology (paywall).
Surprising discoveries
You can actually see “coolness” in the brain. It lives in the medial prefrontal cortex, which governs social emotions such as pride and embarrassment.
Scientists are looking everywhere for new antibiotics. Turns out they were right under (or in) our noses all along.
Americans can finally order a high-end meatless burger that “bleeds.” The magic ingredient is plant-based heme, an iron-rich molecule that makes blood red.
Jupiter’s Great Red Spot is incredibly noisy. Sound waves from giant thunderstorms are so intense that they heat the entire planet.
Two fearsome ants were named after Game of Thrones dragons. Size isn’t everything for Pheidole drogon and Pheidole viserion.
Our best wishes for a productive day. Please send any news, comments, ant repellent, and Red Spot remixes to hi@qz.com. You can download our iPhone app or follow us on Twitter for updates throughout the day.