Good morning, Quartz readers!
What to watch for today
Hillary Clinton lays out her economic plan. The US Democratic presidential candidate will give a speech in Detroit, three days after Republican Donald Trump made his big economic pitch there. In the course of her speech, she is unlikely to suggest assassinating him.
The DEA on marijuana regulation. The Drug Enforcement Administration is expected to publish its response to a congressional petition on reclassifying marijuana, which is currently listed under Schedule I, meaning it has no medical value. Marijuana is now legal in some form in 24 of the 50 US states.
Alibaba and Macy’s release earnings. China’s e-commerce giant is breaking earnings out into five categories in an effort to provide more transparency (paywall), and will likely report solid revenue growth driven by its cloud computing business. Meanwhile, America’s largest department store is expected to post a 6% drop in year-over-year revenue as it continues to struggle against lower-cost rivals, especially online.
Rio 2016. Golf returns to the Olympics for the first time since 1904, not that most of the male golfers seem to care. Meanwhile, watch the unstoppable Simone Biles try to power her way to gold in the women’s all-round gymnastic final, maybe with her signature move—a double layout with a half twist, known in gymnastics circles as “the Biles.”
While You Were Sleeping
A ceasefire in Aleppo. Russia intends to facilitate daily, three-hour ceasefires, starting at 10 am local time, in the Syrian city, so that humanitarian convoys can bring in aid. The UN and US remain wary of the time constraints and Russia’s ability to enforce the ceasefires.
TUI held steady despite cautious vacationers. The world’s largest tour operator made up for the drop in tourists avoiding North Africa and Turkey because of terrorism fears by selling holidays to the western Mediterranean instead—and enjoyed a 1% rise in its third-quarter earnings.
Wildfires in France reached the city of Marseille. The fires sweeping across southern France have forced hundreds to evacuate their homes, as more than 1,500 firefighters try to control the rapidly spreading blaze. Marseille airport is redirecting passenger flights to allow firefighting planes to land.
Zalando put its best foot forward. Europe’s biggest online fashion retailer saw its second-quarter earnings triple to $90 million in its core markets of Germany, Austria, and Switzerland. The Berlin-based firm, which has nearly 19 million active customers, put its rise in profit down to heavy investment in logistics, technology and marketing.
Federal prosecutors began a criminal probe into Valeant. According to the Wall Street Journal, the pharmaceutical giant is suspected of defrauding insurers (paywall) by hiding its relationship to mail-order pharmacy Philidor, which is now defunct. Valeant’s shares dove 13% in late trading, wiping out gains from its positive financial forecast on Tuesday.
Quartz obsession interlude
Michael Tabb on the physics of Simone Biles’s signature move. “Try taking a Barbie or a pencil (or any object, really) and flip it in the air without having it twist at all. It’s basically impossible. But the world’s best gymnasts stay almost perfectly straight. Clearly, scientists thought, these gymnasts have some kinesthetic intelligence that Barbies don’t.” Read more here.
Matters of debate
Trying to make people less sexist is pointless. Instead, change the system so that there is less room for bias.
“Joking” about political assassinations isn’t OK. Humor can make fringe ideas mainstream.
Xi Jinping is closing off paths to power. By purging the ranks of communist youth, the Chinese president is consolidating his grip on the country.
Surprising discoveries
Michael Phelps tied a 2,168-year-old Olympic record. With 12 individual wins, the swimmer matched the record held by sprinter Leonidas of Rhodes since 152 BC.
Germany crowned its first male “wine queen.” The town of Kesten couldn’t find any women up for the job of representing the region’s Mosel wines.
Olympic boxers don’t wear headgear anymore. The International Boxing Association says helmets might actually lead to more concussions.
Franz Kafka’s manuscripts produced a Kafkaesque legal battle. The confusion was caused by Kafkaesque instructions.
UN chief Ban Ki-moon has an “American mom” in California. He met her in a Red Cross-sponsored trip when he was 18 and they’ve kept in touch ever since.
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