Good morning, Quartz readers!
What to watch for today
Hackers and counter-hackers convene in Las Vegas. The annual Black Hat and Defcon events will focus on the risks and opportunities in the growing “internet of things,” including smartwatches, thermostats, cars, and other connected gadgets.
Indonesia hosts the 12th World Islamic Economic Forum. The three-day conference in Jakarta will cover Islamic finance and Muslim-friendly tourism. Leaders and representatives from over 100 countries will attend.
Pfizer reports its second-quarter earnings. The US’s largest drugmaker is expected to report a significant jump in sales and earnings. Shareholders will want to hear about its plans following the collapse of the $160 billion tax inversion deal to take over Irish drugmaker Allergan.
While you were sleeping
Donald Trump called Hillary Clinton “the devil.” As the Democratic presidential nominee edges ahead in the polls, the Republican’s rhetoric keeps getting more outrageous. He also said that the election would be rigged in her favor come November. “I hope the Republicans are watching closely or it’s going to be taken away from us,” Trump said. He also fired his advisor Ed Brookover on Monday.
SUV sales boosted BMW’s bottom line… The German automaker reported an almost 8% jump in second-quarter profit to $3.05 billion, beating analysts’ estimates, thanks in part to the popularity of its new X1 compact SUV and cost cutting. BMW is playing catchup with Mercedes, which overtook it to become the world’s leading luxury carmaker in the first quarter.
…while South Korea banned sales of Volkswagen. Seoul is punishing the German carmaker for its emissions cheating by halting sales of 80 VW models, de-certifying an additional 83,000 cars—including Audi models—and slapping the company with a $16 million fine (paywall) for “obtaining certification with fake documents.” The harsh moves could be a way to weaken VW as a competitor.
Australia’s central bank cut interest rates to a record low. Worried about a weakening job market and persistently low inflation, the Reserve Bank of Australia cut its cash rate by 25 basis points to 1.5% in hopes of stoking economic growth.
Typhoon Nida hit Hong Kong and moved on to southern China. Packing heavy rain and winds of 100 km per hour (62 mph), the storm caused 150-plus flight cancellations and stranded hundreds of passengers at the airport. The Hong Kong Stock Exchange called off the morning session, and authorities issued flood alerts for low-lying areas. The storm has now moved on to Guangdong province in China.
Quartz obsession interlude
Aamna Mohdin on how the Olympics allow democracies to behave like dictatorships. “There’s a long history of host cities, most of which operate in democracies, temporarily enforcing far-reaching measures to ensure the Olympic Games go ahead without a glitch.” Read more here.
Matters of debate
Uber’s defeat shows just how hard it is for a foreign company to compete in China. A conciliatory stance toward Beijing left it bruised, if not totally broken.
Compulsory voting may be the key to democracy. Citizens are more politically aware.
Millennials are apt to “confuse happiness with a sofa.” Pope Francis wants them to put down their smartphones (paywall) and engage with the world’s problems.
Surprising discoveries
The president of the European Commission has a blacklist. “I have a little black book called Le Petit Maurice where for the past 30 years I have noted when someone has betrayed me,” Jean-Claude Juncker said.
Women who’ve had their appendix or tonsils out may be more fertile. But the study’s authors said women shouldn’t go get them removed unnecessarily.
Trump and Clinton were chosen by a mere 9% of Americans. The presidential candidates will be fighting to win over 191 million Americans (paywall) who are eligible to vote.
Apple replaced the revolver emoji with a squirt gun. A rifle icon was also rejected due to sensitivities about violence.
A Japanese museum’s creepy robot uses a neural network to govern its moves. Proximity, humidity, noise, and temperature all influence what it does next.
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