Good morning, Quartz readers!
What to watch for today
Janet Yellen faces the House Financial Services Committee. The plan is for the US Federal Reserve chairwoman to testify on the regulation of big banks. But the hearing is not expected to stay on topic. Yellen, who was attacked by Donald Trump during the presidential debate for keeping interest rates low, may address the central bank’s outlook on the issue.
Philippines president Rodrigo Duterte visits Vietnam. He’ll meet with his counterpart Tran Dai Quang, and is expected to discuss Vietnam’s role in the South China Sea dispute.
Yes, Blackberry is still around. In its latest earnings report, analysts expect a 20% slump in revenue during the second quarter from a year ago (paywall) at the embattled Canadian smartphone maker. The rumor is that CEO John Chen may pull the plug on the company’s once-dominant handset business.
While you were sleeping
Former Israeli leader Shimon Peres died. The statesman served once as president and twice as prime minister, and won the Nobel Peace Prize in 1994 for his role in the Oslo peace accords. He was 93 years old. His coffin will lie in state in the Israeli parliament, the Knesset, ahead of his funeral on Friday.
Wells Fargo’s CEO kissed goodbye to $41 million in bonuses. John Stumpf is at the core of a corruption investigation (paywall) into how the bank opened over two million bank accounts without customers’ permission. He will face more questions before the House Financial Services Committee on Thursday.
SABMiller’s merger with Anheuser-Busch InBev was agreed. On Wednesday, shareholders from both companies voted to approve the $100 billion deal, which would create an unprecedented giant in the global brewing industry.
Elon Musk revealed SpaceX’s plans to take humans to Mars. He compared the idea to building the first railroad to California: it seemed absurd at first, but eventually became a key factor in the US’s growth. SpaceX will need fully recyclable rockets, ships that refuel while in orbit, and a way to produce fuel on Mars. The trip could take as little as 80 days.
Tui got a long-haul boost, led by Brits. The world’s biggest tour company reported a 26% jump in long-haul bookings over the last 12 months, with sun-seeking Brits driving demand. This helped offset a dip in tourists traveling to Turkey and spurred the company to underlying profit growth of 13%.
Deutsche Post DHL snapped up a British rival. The $313 million acquisition of UK Mail allows Europe’s biggest delivery company to gain a stronger foothold in the British parcel market. UK Mail directors urged shareholders to back the deal, and the company’s share price shot up 43% (paywall) in early trading in London.
Quartz obsession interlude
Abdi Latif Dahir on the tourists visiting Somalia to see the ruins of a two-decade civil war. “Somalia is not your everyday vacation spot. It is one of the world’s most dangerous countries, plagued by political infighting, violence, and terrorism. The United Nations World Tourism Organization has never recorded the number of people who visit the country since it started collecting data on tourism in 1995…But that isn’t stopping tourists like Matzenauer from flying there every year.” Read more here.
Matters of debate
Donald Trump isn’t a master businessman. He’s just greedy.
We are approaching the ”death of style.” And for that, US Vogue blames bloggers.
The tool most commonly used to measure China’s economy doesn’t work. Trusting GDP figures leaves investors open to considerable risks.
Surprising discoveries
Fish can be smarter than primates. The tiny frillfin goby, for example, escapes predators by memorizing the exact topography of the area around it.
All of our astrological signs are wrong. Earth’s axis has shifted since the Babylonians created star signs 3,000 years ago.
There’s a Tinder-style app for finding a sperm donor. The London Sperm Bank lets women filter donors by traits.
Bad news if you like anchovies. Invasive jellyfish in the Adriatic Sea are wreaking havoc on the tasty little fish.
Google is out to prove it really knows languages. It claims its forthcoming translation software is basically as good as human translators.
Our best wishes for a productive day. Please send any news, comments, smart fish, and accurate horoscopes to hi@qz.com. You can follow us on Twitter for updates throughout the day or download our iPhone app.