Good morning, Quartz readers!
What to watch for today
A peek at European Central Bank discussions. Minutes from the ECB’s most recent meeting will show what its governing members really thought about the Brexit vote when they decided to leave interest rates at record lows last month.
Walmart’s summer report card. Walmart’s second-quarter earnings will indicate just how much competition from e-commerce and discount rivals is hurting the company. Analysts don’t expect any year-over-year revenue growth this quarter, but are optimistic about investments in online retail, including the company’s recent acquisition of Jet.com.
Rio 2016. There’s a strong chance the US will finally snag an Olympic gold today in female wrestling, with the grappling power of Maryland-born world champions Helen Maroulis and Adeline Gray. Also watch out for the men’s 200m final—the second of three events Usain Bolt needs to achieve his planned “treble treble.”
While you were sleeping
Brazil detained US swimmers. Authorities stopped Gunnar Bentz and Jack Conger from boarding a flight at Rio airport, taking them for further questioning after their accounts of being robbed at gunpoint in the city on Sunday didn’t match CCTV evidence. Teammate James Feigen is also staying in Brazil, but Ryan Lochte had already left the country.
Nestlé had a distinctly average first half. The Switzerland-based maker of Kit-Kat candy and DiGiorno frozen pizza reported first-half revenue of $45 billion, and 3.5% organic growth, buoyed by healthy sales in North America (paywall), but fell short of analyst’s profit predictions.
Lenovo had a stellar first quarter. The world’s biggest PC maker enjoyed a 64% leap in profit from the same time a year ago, boosted by $132 million from the sale of some Beijing real estate. It’s not all sunshine: Lenovo reported a 30% slowdown in global smartphone sales, and doesn’t expect its mobile division, which includes Motorola handsets, to make a profit before October 2017.
Samsung’s stock hit an intraday record. While smartphone sales may be slowing at companies like Lenovo, the success of the Samsung Galaxy brand has driven a 30% rally in shares at the Korean company, which set a new record of 1.585 million won ($1,433.73) per share in early trade on Thursday.
Cisco is cutting 7% of its workforce. The California-based networking equipment company said it will let go around 5,500 people, as it shifts its focus from switches and routers to fast moving sectors such as software for security and the “internet of things.” It’s the second major tech layoff this year, after Intel in April announced plans to lay off 12,000 people.
Quartz obsession interlude
Lynsey Chutel on how a gold-medal win in Rio turned into a race debate in South Africa. “While the term ‘coloured’ seems antiquated and cringe-worthy in some social contexts, it is still a recognizable identity and culture in South Africa. Somewhere else, Wayde van Niekerk would probably have been black. In South Africa, his racial classification remains a key identifier as he moves through the world.” Read more here.
Matters of debate
Donald Trump’s merger with the Republican Party has failed. The nominee has abandoned any attempt at a traditional campaign.
Brazilians are rewriting the rules of fandom by booing everyone. It may have something to do with Brazil’s relative isolation from the world.
Your political rants on Facebook aren’t doing much. More than 90% of Republicans and Democrats say they’ve never been swayed by a partisan post.
Surprising discoveries
The US Navy is naming a ship after Harvey Milk. It will be first US naval vessel to be named for an openly gay person.
The touchpad of the future will be on your skin. A smart gold-leaf tattoo developed by MIT can be used to control your phone or track yourself.
The blimp is back. The helium-filled Airlander 10, the world’s largest aircraft, spent 20 minutes in the air above rural England.
England is scouting for ”hedgehog officers,” who are obliged to dress like the spiky creatures. “It gets them to think about what it’s like to be a hedgehog” (paywall).
Eight female TV hosts in Egypt could lose their jobs if they don’t lose weight. The state broadcaster gave them a month to diet their way to an “appropriate appearance.”
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