Good morning, Quartz readers!
What to watch for today
Will a tax-avoiding mega-merger succeed? Despite tough new US rules on corporate inversions (paywall), shareholders of Milwaukee-based conglomerate Johnson Controls and Ireland’s Tyco will vote on a possible $16 billion partnership. The deal would create one of the largest industrial companies in the US by market capitalization.
Fed minutes. Low interest rates have helped stocks perform well so far this year, but the main US stock indexes closed lower overnight ahead of today’s release of the US Federal Reserve’s July meeting minutes. Analysts will look for hints of a rate increase, which could come as early as September.
Rio 2016. The women’s golf—back for the first time since 1900—kicks off with a rivalry at the top between two teenagers—Brooke Henderson and Lydia Ko. American Ashton Eaton starts his two-day quest in the decathlon as favorite to become the first two-time gold medalist since Daley Thompson in 1988. The table-tennis men’s double final, taekwondo women’s and men’s final and basketball men’s quarter-final also happen today.
While you were sleeping
Donald Trump hired the Breitbart News chairman. Steven Bannon, known for his populist stances, will be Trump’s CEO for the remaining 82 days of his presidential election campaign. The shakeup puts an end to campaign chairman Paul Manafort’s efforts to temper Trump’s presentation rhetoric—Manafort has now been effectively demoted.
Turkey freed up prison space. The authorities are releasing 38,000 prisoners who had been jailed before the failed military coup in July, and served half their sentences. The government denied the action had anything to do with making more room for the 23,000 people who have been arrested in connection with the coup.
Cathay Pacific’s profits took a nosedive. The Hong Kong flag carrier reported an 82% fall in first-half profit as the economic slowdown (paywall) in mainland China hit corporate travel and sales of premium class seats on long-haul routes. Its shares fell the most in a year—over 7%—on the announcement.
Wildfires forced mass evacuations in California. Around 82,000 people were ordered to leave their homes on Tuesday evening as uncontrolled fires swept across San Bernardino County. It began early on Tuesday and by evening had spread to 15,000 acres (paywall), forcing authorities to declare a state of emergency.
Univision acquired Gawker Media for $135 million. The US’s largest Spanish-language broadcaster beat out Ziff Davis in an auction for the troubled online publisher. An invasion-of-privacy lawsuit by former pro wrestler Hulk Hogan pushed Gawker into bankruptcy in June.
Quartz obsession interlude
Oliver Staley advocates for a one-mile Olympic race. “The symmetry of the four laps makes the mile easy to follow, and is particularly useful when watching elite runners capable of challenging the four-minute mile. Cheering athletes against the clock, knowing each lap has to be run in under a minute, is one of the great spectacles in track, a sport that has far too few of them.” Read more here.
Matters of debate
Brexit is an opportunity to re-shape the concept of citizenship. Let’s stop treating it as a birthright, and make it more democratic.
Apple’s squirt gun emoji infantilizes users. It shouldn’t mess with people’s ability to express their views (paywall).
You can tell a lot about a company by its motto. Too many words, too much complexity, and too little substance are sure signs of trouble.
Surprising discoveries
Bahrain’s track-and-field team is made up almost entirely of Africans. Athletes switch allegiances for better pay or better training programs.
Kite flying in India can be deadly. Three people had their throats slit by kite string this week.
The 1980 Olympic Village was turned into a prison. The facility in upstate New York was intentionally built to house inmates after the Winter Games ended.
Keanu Reeves is building $78,000 motorcycles. Buying a custom-made Keanu bike involves multiple measurement sessions.
A rare Afghani deer was spotted for the first time in 45 years. The Bactrian deer, which scientists thought was locally extinct, has survived two huge wars.
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