Good morning, Quartz readers!
What to watch for today
Donald Trump sits down with Mahmoud Abbas. The Palestinian president says a “historic” deal is possible, as he seeks US support for an Arab League peace plan.
Can Facebook extend its earnings streak? The social media giant has beat expectations every quarter since March 2013. Investors will be keenly looking at Instagram’s revenue growth as the Facebook news feed loses steam.
The Fed sets the table. The US central bank isn’t expected to make a move on interest rates, but its read-out on the economy will give a strong signal for June’s widely anticipated rate hike.
While you were sleeping
Apple’s iPhone sales fell short. The company made a ton of money—$11 billion in profit on $52.9 billion in revenue—but it posted a surprise decline in smartphone sales as consumers waited for a major upgrade later this year. Shares in the world’s most valuable listed company fell more than 1% in after-hours trading.
Aung San Suu Kyi passed on a trip to Washington. Myanmar’s leader said she would not attend a gathering of Southeast Asian leaders this week to meet US secretary of state Rex Tillerson. Her decision will bolster perceptions that the ASEAN region is tilting towards China.
An FBI translator married an ISIL pitchman. Daniela Greene was supposed to be investigating Denis Cuspert, a German rapper turned Islamic State operative. Instead, she traveled to Syria and became his wife, before returning to the US and spending two years in prison.
US lawmakers chastised United Airlines. United CEO Oscar Munoz apologized repeatedly to an angry House committee, saying that the violent deplaning of a passenger was a “turning point” for the company. Congressmen used the hearing to complain about the “terrible experience” of flying—despite their ample perks.
Putin and Merkel had a chilly meeting. The leaders “barely looked at each other,” according to Reuters, as the German chancellor said talks must continue in spite of “serious differences of opinion” on Syria, Ukraine, and LGBT rights. The Russian president “bristled” at allegations of meddling in Western elections.
Quartz obsession interlude
Jo Meacham on virtual-reality worlds as a promising alternative to painkillers. “Burn patients have to undergo regular wound-care sessions so painful that they can be excruciating even with high doses of painkillers. SnowWorld was designed as a kind of souped-up distraction … it creates the experience of flying through a virtual ice canyon while exchanging snowballs with penguins and snowmen.” Read more here.
Markets haiku
Apple profits? Up/ Revenue? Up. iPhone sales?/Down. And with them, shares.
Matters of debate
Don’t stress about robots replacing humans. Worry instead about machines replacing high-paid positions and leaving cheap drudge work behind.
Humans are biased about being biased. The more we convince ourselves we don’t have certain prejudices, the likelier we are to exhibit them.
Your economy isn’t normal. Unless, that is, you’re in Azerbaijan.
Surprising discoveries
The US is prosecuting a woman who laughed at Jeff Sessions. The US attorney general’s confirmation hearing was allegedly disrupted when she guffawed “very loudly.”
Factory workers are crafting poetry on their phones. It pairs traditional Chinese imagery with the harsh realities of employment.
Chinese tech giants are investing in a luxury pig farm. NetEase’s Weiyang subsidiary sells pampered black pork for up to $40,000 at auction.
An upcoming solar eclipse will cost California a ton of energy. The state’s increasing reliance on solar polar will cause some complications on Aug. 21.
Shaving accessories caused a World War I anthrax outbreak. Common horsehair brushes carried bacterial spores that infected dozens of soldiers.
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