Good morning, Quartz readers!
What to watch for today and over the weekend
European Union leaders regroup in Bratislava. European Council president Donald Tusk is hoping to steady the ship and calm tensions, days after Luxembourg’s foreign minister called for Hungary to be kicked out of the EU.
The iPhone 7 hits store shelves, sort of. Apple’s entire inventory of the “jet black” iPhone 7 and the larger iPhone 7 Plus has already sold out in online pre-ordering, so only a few devices in other colors will be in stock on the first day of in-store sales.
Russia’s central bank is expected to cut interest rates. Economists predict a half-point rate cut, down to 10%, when the bank meets today. Governor Elvira Nabiullina has said the bank will keep monetary policy “moderately tight.”
While you were sleeping
The US fined Deutsche Bank $14 billion. The proposed amount is to settle an investigation into the German lender’s selling of mortgage-backed securities. The bank said it would fight the near-record demand, which far outstrips its expectations.
Japan said it will participate in US joint training cruises in the South China Sea. Defense minister Tomomi Inada said Japan will also join bilateral and multilateral exercises with regional navies. She didn’t suggest Japan would join US “freedom of navigation” operations—China has warned that Japan doing so would be “crossing a red line.”
Unilever is in talks to buy Jessica Alba’s Honest Co. for over $1 billion. The actress’s company has built a loyal following among young mothers by avoiding harsh chemicals in its products, among them diapers, household cleaners, and beauty products. The talks are still in the early stages (paywall).
Samsung announced a formal recall of the Galaxy Note 7. Battery cells in the new smartphone have been exploding for weeks. Samsung had started a voluntary recall, but yesterday the company, in cooperation with the US Consumer Product Safety Commission, issued a formal US recall. Customers can return the phone for either a replacement or a refund.
Donald Trump is no longer a “birther.” The Republican candidate for US president now believes that “president Obama was born in the United States,” according to a campaign statement, which blamed Hillary Clinton for raising the issue. There is no evidence that Clinton or anyone in her campaign ever suggested Obama was not born in the US.
Fiat Chrysler announced a recall of nearly 2 million cars. An air bag defect linked to three deaths and five injuries prompted the move. It’s the latest in a string of vehicle recalls related to air bags, including one by General Motors last week involving nearly 4.3 millions cars.
Quartz markets haiku
One point four billion
Is a lot of dough. Even
if you’re Nebraskan.
Quartz obsession interlude
Steve LeVine on why Silicon Valley is losing the self-driving car race. “While the valley’s most hallowed high-tech names, the self-described industry disruptors—Apple, Google, Tesla, Uber—have attracted most of the attention, they appear to be flailing at execution, and hyping their capabilities. The names to beat, at least at this juncture, are supposedly dowdy incumbent carmakers such as GM, BMW, and Volvo.” Read more here.
Matters of debate
Questions on US college applications about criminal history discourage prospective students. “Banning the box” gives felons a second chance.
Hillary Clinton’s “basket of deplorables” comment was a stroke of branding genius. The clever, catchy name turned the tables on Donald Trump.
We want our leaders to be vulnerable—until they are. The capacity to show weakness is a leadership strength, but we are quick to rebuke any visible frailty.
Surprising discoveries
If you have a fear of flying, imagine yourself in an airplane crash. Psychology shows that “disaster scripting” can help desensitize you.
There is no such thing as ugliness. Over time and across cultures, the concept has different connotations.
Some words sound the same in every language. An analysis of two-thirds of the world’s languages found that certain basic words are associated with similar sounds.
Playing video games can help you control your dreams. People who have immersed themselves in virtual reality are able to better direct and remember their dreams.
There is a school to learn how to become a weed sommelier. Refined potheads can now take classes on the nuances of different strains of marijuana and how to pair each with food.
Our best wishes for a productive day. Please send any news, comments, disaster scripts, and weed-food pairings to hi@qz.com. You can download our iPhone app or follow us on Twitter for updates throughout the day.