Tesla takes questions, Messi stands trial, Twitterature

Good morning, Quartz readers!

WHAT TO WATCH FOR TODAY

Tesla holds its annual shareholders’ meeting. In addition to the usual business of voting on board directors and stockholder proposals, CEO Elon Musk will answer questions from members of the Tesla Motors Club forum. Live-stream it here.

Lionel Messi stands trial for tax fraud. The Argentinian soccer star and his father Jorge allegedly hid $11.25 million from the Spanish government in South American tax havens.

New data on US home prices. The S&P/Case-Shiller Index willupdate on residential values across the United States. With home sales and residential investments rising, the US housing market may be starting to boom.

WHILE YOU WERE SLEEPING

Japan reported better-than-expected April readings. Industrial production rose 0.3% from March, versus an expected 1.5% contraction following last month’s earthquakes. Household spending rose 0.2% from March, compared to an anticipated 0.6% drop. Still, the numbers weren’t particularly strong; a proposed sales tax hike will likely be delayed.

North Korea botched a missile test. It failed to launch an intermediate-range Musudan missile, according to South Korea’s Yonhap News Agency. Musudan missiles could theoretically reach any part of Japan or US military bases on Guam, but North Korea hasn’t successfully launch one—yet.

A second minister in Brazil’s new government quit. Fabiano Silveira, in charge of the anti-corruption ministry, resigned after a recording was made public that seemed to show him trying to derail a corruption investigation at the state oil company. Last week the planning minister stepped aside after a similar recording was released.

New Zealand got tough on tobacco packaging. New draft regulations call for cigarettes to be sold in packs with plain background colors and gruesome-looking images. Prime minister John Key said the measure was likely to be in place by early next year.

QUARTZ OBSESSION INTERLUDE

Olivia Goldhill on the dangers of overwork. “Workaholism, long-associated in some parts of the world with an industrious work ethic, can develop into a full-blown psychological addiction. Troublingly, arecently published study of 16,426 working adults in Norway found that those with workaholism are significantly more likely to have psychiatric symptoms.” Read more here.

MATTERS OF DEBATE

The UK is the most corrupt country in the world. Mafia expert Roberto Saviano says Naples has nothing on the UK’s unscrupulous financial capital.

The dress code is dead. A revolution in office culture is underway, and it values personal expression (paywall) over corporate identity.

Twitter is perfect for poetry. The social platform’s 140-character limit has given rise to a new literary art: “Twitterature.”

SURPRISING DISCOVERIES

The rich get richer. The richest families in Florence in 1427 are still the richest families in Florence today.

Poker is a great way to meet people. Hundreds of poker networking events have sprouted up across the US; meanwhile, millennials aren’t keen on golf.

The first edition of a Lewis Carroll classic was trashed. The first run of Alice in Wonderland was so poorly printed, the illustrator demanded it be recalled, to be sold “as waste paper,” Carroll wrote. Just 22 copies survive, and one will be auctioned off in June.

Swedish men now outnumber women. Thanks to immigration and rising life expectancy, the percentage of men in several European countries is rising.

Religious leaders were early adopters of abortion. When New York legalized abortion in 1970, Protestant and Jewish clergy quickly opened a clinic to model affordable, safe practices.

Our best wishes for a productive day. Please send any news, comments, poker tips, and surplus men to hi@qz.com. You can download our iPhone app or follow us on Twitter for updates throughout the day.

Weekend edition—Workaholism, Cuba’s new revolution, and the hardest spelling words in the English language

Good morning, Quartz readers!

With the northern hemisphere hurtling toward the start of another summer, it’s a natural time to think about breaks—and why some of us seem unable to take one.

What does it say to the people around us when we forgo trips to the beach or slink off to the side at the backyard barbecue to check in with work? And what are we saying to ourselves? That we are doing this because we have to? Or maybe because we want to?

Either way, there’s a growing body evidence suggesting it isn’t just drive that’s keeping us chained to our work; there might be more humbling clinical factors involved. A recent study of more than 16,000 workers in Norway found a correlation between workaholism and a host of psychiatric disorders, including ADHD, OCD, anxiety, and depression. And if we’re using work as a distraction from, or salve for, our other problems, our methods for doing so may be making things worse. In a study on students at the University of British Columbia, researchers found that the notifications and other interruptions pinging us from our smartphones make people less attentive and more hyperactive, mimicking the symptoms of ADHD.

It’s easy to blame technology for exacerbating the plight of the workaholic. Our gadgets and apps indeed make it easier for our bosses and colleagues to track us down, while making it harder to resist whatever temptation exists to tether ourselves to our work. But workaholism existed before the reign of the smartphone or the age of email, and it will likely outlive both.

In the meantime, technology’s intrusion on seemingly everything else in modern life offers a bit of cover to the workaholics among us. We may be the only people at the swimming pool this weekend negotiating deals or finishing projects, but we certainly won’t be the only people on our smartphones. —Heather Landy

Five things on Quartz we especially liked

Whither the iPhone? Apple CEO Tim Cook has met prime minister Narendra Modi, done the Bollywood party circuit, and prayed at a Hindu temple, but India still won’t let him build an Apple store. As our colleagues at Quartz India explain, a strict protectionist requirementstands in the way—and Apple doesn’t seem able meet it, not even for the sake of access to the second-biggest smartphone market in the world.

The future of software rests on one question. Keith Collins explains a question that coders and non-coders alike struggle to comprehend—let alone answer. The legal version, put before a US federal court presiding over a case between Google and Oracle, is especially thorny but it essentially boils down to this: Does code deserve the same copyright protections as a novel or a work of art? Maybe not, according to the jury’s finding this week in the case.

Cuba’s new revolution. As the Communist grip over Cuba’s economy loosens ever so slightly, a new class of consumers is forming, and they need their pets groomed. In an island nation still grappling with poverty, homegrown businesses have started peddling newly discovered luxuries from spinning classes to nail polish for dogs. Ana Campoy reports from Havana on the rise of the American Dream, Cuban-style.

The hardest words to spell in the English language. Psoriasis. Stromuhr. Scherenschnitte. Every year, the US Scripps National Spelling Bee throws English-language word nerds into a frenzy—and eventually crowns one or two particularly gifted teenagers the nation’s master spellers. What makes some words so tantalizingly hard to spell? Thu-Huong Ha looks back at the deciding words of spelling bees past.

A design solution to an obesity epidemic. America’s Nutrition Facts label is an important and underappreciated piece of graphic design—not to mention a legal requirement for many food products. But does the 20-year-old label, reintroduced by regulators this month with a handful of subtle typographic tweaks, help shoppers make healthy choices? Anne Quito quizzes its original designer on public health, the clarity of labels, and the eternal question: Why Helvetica?

Five things elsewhere that made us smarter

A television drama’s worth of intrigue at Viacom. Nonagenarian media mogul Sumner Redstone changed a few details in the trust that will one day control his Viacom-CBS empire, and launched an epic power struggle between the Redstone family and Viacom CEO Philippe Dauman. Steven Davidoff Solomon, writing in the New York Times, reveals a conflict between Viacom’s charter and bylaws that may tip the scales.

Global capitalism makes good soup. Pho, the beef-based noodle soup from northern Vietnam, has a surprising origin story. As Andrea Nguyen recounts for Lucky Peach, a meeting of beef-loving French occupiers, hungry Chinese merchants, and competitive Vietnamese street hawkers 100 years ago gave rise to the globally popular dish we know today.

Wired ❤ Thiel. Billionaire investor Peter Thiel was recently revealed to be funding former wrestler Hulk Hogan’s potentially ruinous defamation suit against Gawker. In a wickedly funny parody, Wired’s Brian Raftery highlights the near-Shakespearean heights of Thiel’slong vendetta against the gossip site.

There’s a black market for dissertations in Russia. More than 1,000 elite and respected Russians have recently been caught with plagiarism in their academic pasts, and the allegations run all the way up to the Putin administration. For Slate, Leon Neyfakh examines Russia’s boom in advanced degrees, its academic fraudsters, andthe vigilante group using digital analysis to hold them accountable.

America has given up on manifest destiny. Americans today are less likely to change jobs, move, and start new businesses than just a few decades ago. The Atlantic’s Derek Thompson investigates this mysterious decline in moxie, and identifies a nationwide problemdriving US workers away from the very jobs and opportunities they once sought out.

Our best wishes for a relaxing but thought-filled weekend. Please send any news, comments, hard-to-spell words, and plagiarized dissertations to hi@qz.com. You can follow us on Twitter here for updates throughout the day.

G7’s Brexit warning, Google beats Oracle, eco-friendly jackals

Good morning, Quartz readers!

WHAT TO WATCH FOR TODAY AND OVER THE WEEKEND

SpaceX attempts another complicated rocket landing. Elon Musk’s company will deliver a communications satellite to geosynchronous orbit and then try to land the rocket “fast and hot” on a barge ship in the ocean. Significantly, it would be the second such landing in a month.

Barack Obama heads to Hiroshima. After the G7 summit, the US president will visit a peace memorial with prime minister Shinzo Abe. He will be the first serving president to visit the city where the US dropped an atomic bomb in 1945.

Iran’s new parliament is sworn in on Saturday. Reform-minded legislators will dominate, and women will outnumber clerics for the first time. The body, known as the Islamic Consultative Assembly, is expected to support president Hassan Rouhani and the nuclear deal that ended Western sanctions.

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Is your business speaking Generation Z’s language?Companies will need to employ data and storytelling tactics to appeal to this emerging generation’s beliefs, goals, and consumption habits.

WHILE YOU WERE SLEEPING

G7 leaders warned against a Brexit. The UK leaving the European Union would “reverse the trend towards greater global trade and investment,” they said in a joint declaration. Having convened this week in Japan, they also expressed concerns about terrorism, the refugee crisis, and geopolitical conflicts.

Google won a $9 billion court case against Oracle. A jury ruled that Android smartphone software does not infringe on Oracle’s copyrights, in a case with far-reaching implications for the tech industry. Oracle is likely to appeal.

Investigators made a breakthrough in the search for EgyptAir 804. The plane’s emergency beacon was picked up by a satellite, narrowing the area that search teams were combing over for the missing plane to a three-mile radius.

China reported slowing profit growth in its industrial sector.Year-on-year growth was 4.2% in April compared to 11.1% in March, among large firms. That was in line with other April data suggesting the economy might be losing steam again, after picking up earlier in the year.

Student demonstrators clashed with police in Santiago.Thousands of protestors gathered in the Chilean capital demanding free university education. Security forces tried to stop them from walking along Santiago’s main artery, and deployed tear gas and water cannons.

QUARTZ MARKETS HAIKU

Sales at dollar stores
Are starting to gain some steam
Good sign for wages

QUARTZ OBSESSION INTERLUDE

Steve LeVine on Elon Musk’s battery challenges. “Musk has made Tesla the nascent electric car industry’s pacemaker, striking terror in the hearts of his rivals through styling and technology, all while ignoring one of the biggest questions in the business: How do you invent a relatively cheap super-battery to propel an electric vehicle?” Read more here.

MATTERS OF DEBATE

It’s OK to let babies cry themselves to sleep. Stop chastising moms who use the technique; it can actually reduce infant stress.

Want employees to be more productive? Steal their chairs. A study of call center workers found a 46% boost in performance with standing desks.

The US has a moral obligation to give Puerto Rico the vote.Residents of Washington, DC are also disenfranchised.

SURPRISING DISCOVERIES

Half of the sexist remarks on Twitter come from women. Men aren’t the only ones capable of spewing misogyny.

Surfing star Kelly Slater has figured out how to make artificial waves. They could change the sport forever.

Keep this in mind the next time you eat at a Somali restaurant:The banana is definitely part of the meal.

Golden jackals are invading Europe… But researchers say they are performing a valuable service: eating the trash.

…And invasive lionfish are being sold at Whole Foods. Selling the species as food keeps it from overrunning local reefs.

Our best wishes for a productive day. Please send any news, comments, perfect waves, and Somali food to hi@qz.com. You can download our iPhone app or follow us on Twitter for updates throughout the day.

Research & Investment | The storm is almost over

 

The storm is almost over

By Colin Twiggs
May 26, 2016 5:00 p.m. AEST (3:00 a.m. EDT)

Advice herein is provided for the general information of readers and does not have regard to any particular person’s investment objectives, financial situation or needs. Accordingly, no reader should act on the basis of any information contained herein without first having consulted a suitably qualified financial advisor.

The storm is almost over ….for now. Ably supported by the Fed’s dovish retreat on interest rates, massive stock buybacks and another stimulus program by the Chinese, markets are growing in confidence. While there are still fundamental concerns, from a technical view stocks are regaining lost strength.

Short retracement of the S&P 500 below resistance at 2100 suggests a breakout ….as does a trough above zero on 13-week Momentum. Follow-through above 2130 would confirm, offering a target of between 2300 and 2400*.

* Target calculation: 2100 + ( 2100 – 1800 ) = 2400

Europe

Germany’s DAX recovered above 10000, signaling continuation of the rally. Recovery of 13-week Momentum above zero would be a bullish sign, while a trough above zero would indicate a primary up-trend.

The Footsie respected support at 6000, suggesting another advance. Follow-through above 6400 would signal a primary up-trend. 13-Week Momentum above zero is a bullish sign.

* Target calculation: 6400 + ( 6400 – 6000 ) = 6800

Asia

The Shanghai Composite Index remains weak, headed for another test of support at 2700 despite a surge of activity in housing. Indications that the Fed may raise interest rates in Juneincrease pressure on the Yuan. 13-Week Twiggs Momentum below zero continues to indicate a strong primary down-trend.

* Target calculation: 3000 – ( 3600 – 3000 ) = 2400

India’s Sensex is bullish, testing resistance at 26000 after a short retracement. Breakout above 26000 would indicate that a bottom is forming (the down-trend is losing momentum). Although retreat below 25000 would warn of another test of primary support, support is likely to hold. Recovery of 13-week Momentum above zero is a bullish sign. A trough above zero would signal a primary up-trend.

Australia

The ASX 200 is testing resistance at 5400. We are entering the seasonal sell-off before financial year end, so expect retracement to test support at 5200. In the present bullish climate, support is likely to hold. A trough above zero on 13-week Momentum would confirm a primary up-trend.

* Target calculation: 4700 – ( 5400 – 4700 ) = 4000

G7 in Japan, space-station expansion, Taj Mahal pests

Good morning, Quartz readers!

WHAT TO WATCH FOR TODAY

G7 leaders meet in Japan. Leaders from the world’s largest industrialized democracies will discuss security threats and ways to kickstart the global economy. Japan favors a coordinated stimulus package, while Germany is pushing for structural reforms.

French nuclear workers go on strike. Their union will lead national protests against the government’s proposed labor law reforms, and 19 nuclear power plants will be affected. Three-quarters of French electricity comes from nuclear power, but no blackouts are expected.

Astronauts inflate a new kind of room at the International Space Station. They will study how the Bigelow Expandable Activity Module stands up to the rigors of space over the next few years; bigger versions could follow. NASA will provide a video stream of the event starting at 10:30am London time.

India woos China. Indian president Pranab Mukherjee is meeting with Xi Jinping and other Chinese leaders to encourage more investment in South Asia’s biggest nation. China, meanwhile, issweating over prospects of the G7’s criticism of its aggressive stance in the South China Sea.

WHILE YOU WERE SLEEPING

New Zealand said it anticipates budget surpluses for the next four years. Robust migration, construction activity, and tourism arehelping the economy, even as it faces heightened external risks, including China’s slowdown. The nation expects to post a NZ$668 million ($641 million) surplus in the year to June 2016.

US Foods notched the second-biggest US IPO of 2016. The food distributor raised just over $1 billion. It became only the third private equity-backed IPO to have raised more than $1 billion since the start of 2015.

Exxon shareholders issued a split decision on climate change.The oil giant’s investors approved a rule change that could enable a climate expert to join its board, but struck down a measure requiring it to address the business risks of climate change. Exxon banned some news organizations from the meeting for their “lack of objectivity about climate change.”

US states sued the White House over its transgender bathroom policy. Governors of 11 states argued that Barack Obama has turned schools and government offices “into laboratories for a massive social experiment” by requiring open access to bathrooms based on gender identity.

Hillary Clinton was criticized for sloppy email security. An investigation by a US government watchdog concluded that the former secretary of state did not seek permission to use a private email server. The report will add fuel to a controversy that has shadowed Clinton’s presidential campaign.

QUARTZ MARKETS HAIKU

Crude back near fifty
Moscow, Riyadh, and Tehran
All breathe easier

QUARTZ OBSESSION INTERLUDE

Josh Horwitz on Xiaomi’s drone conundrum. “If consumers flock to it for the low price it could finally popularize household drones. Xiaomi would earn some short-term profits. But once again, Xiaomi will face a wave of hardware commoditization—more players will enter the market and offer competing drones at even lower prices.”Read more here.

MATTERS OF DEBATE

One-percenters have a new weapon to silence critics. Peter Thiel’s stealth legal battle against Gawker threatens the freedom of the press.

Hip-hop is an essential tool for dissent and free expression. So said Barack Obama in Vietnam.

Bonuses should go to burger flippers, not CEOs.Straightforward jobs are much easier to evaluate (paywall).

SURPRISING DISCOVERIES

One of life’s biggest mysteries may have a solution. We mightowe our existence to the violent solar flares that warmed the young Earth.

More young Americans live with their parents than with their partners. It’s the highest percentage since the Great Depression.

Insect poop is turning the Taj Mahal green. Pollution is killing the fish that normally eat the defecating pests.

Your Zodiac sign is probably wrong. Constellations have drifted significantly over the past 2,000 years.

If you want your book to be a bestseller, make it yellow. Brightly colored covers pop for online shoppers.

Our best wishes for a productive day. Please send any news, comments, rants against astrology, and solutions to life’s mysteries to hi@qz.com. You can download our iPhone app or follow us on Twitter for updates throughout the day.

Greece’s breakthrough, Bayer snubbed, professor Angelina Jolie

Good morning, Quartz readers!

WHAT TO WATCH FOR TODAY

EU regulators take on video streaming. Netflix and Amazon would be required to devote at least 20% of their offerings to locally produced content under a new proposal, to be announced today, aimed at bolstering European film production. It could also forcestreaming companies to invest in local movies and series.

Xiaomi unveils its first drone. The device, made in partnership with FIMI Technology, will be 20% cheaper than a comparable drone from market leader DJI. Xiaomi is diversifying into other consumer gadgets as its smartphone growth has been dented by copycats.

HP reports its earnings. The printer and PC maker is expected to post (paywall) a further drop in revenue, after it recently split its hardware and enterprise businesses into two separate listed companies. Costco and Tiffany’s also post their quarterly results.

WHILE YOU WERE SLEEPING

Greece reached a debt relief breakthrough with creditors.Eurozone finance ministers agreed to extend further bailout loans to Greece, as well as debt relief, after late-night talks in Brussels. The Greek parliament recently approved another round of spending cuts and tax increases.

Peter Thiel has been secretly funding a lawsuit against Gawker. The PayPal co-founder and Silicon Valley venture capitalisthas paid the bills for wrestler Hulk Hogan’s legal action against the online media outlet, Forbes reported. Thiel has a track record of supporting press freedom.

Toyota and Uber struck a deal. They will co-develop apps and cooperate on research, and Toyota will provide a fleet of cars and make a “strategic investment” in Uber. GM and Lyft signed a similar deal recently, as carmakers align themselves with “alternative mobility” startups.

Bill Cosby’s sexual assault trial will go forward. The entertainer’s lawyers spent months trying to get the case dismissed, but a judge decided that prosecutors could move forward. The actor and comedian is charged with drugging and sexually assaulting a woman at his Philadelphia home in 2004—one of dozens of alleged attacks.

Monsanto wants Bayer to sweeten its takeover offer. The US agricultural giant rejected the German conglomerate’s $62 billion proposal but said it was still open to a deal. Monsanto executives and investors viewed the bid as too low, but Bayer’s investors may not support a higher price tag.

QUARTZ MARKETS HAIKU

Open windows, doors
Spring breezes sweep the new house
Hopes rise—also, stocks

QUARTZ OBSESSION INTERLUDE

Manu Balachandran on Narendra Modi’s masterful port deal with Iran. “On May 22, the Indian prime minister flew down to Tehran and the next day signed 12 agreements, including a deal to develop Iran’s Chabahar port. India will spend $500 million on the project, with a plan to invest an additional $16 billion in the Chabahar free trade zone. But Chabahar—located about 1,800 kilometres south of Tehran—is more than just a port with an adjoining free trade zone.”Read more here.

MATTERS OF DEBATE

World War III will be fought over water. Terrorism and conflict are fueled by competition for the increasingly scarce natural resource.

Retirement is an obsolete concept. Many seniors can’t stand the thought of spending their remaining healthy years idling in leisure parks, cruises, and retirement communities.

Rodrigo Duterte is no Donald Trump. The Philippines’ new president is terrifying in a completely different way.

SURPRISING DISCOVERIES

Angelina Jolie will be a university professor. The actress and activist will teach a course on sexual violence in conflict at the London School of Economics.

The solution to traffic jams may be a bus that straddles traffic.It would span two lanes and carry as many as 1,400 passengers.

Police and prison guards want to quash legal marijuana in California. The war on drugs is a big moneymaker for both groups.

A robot may soon be taking your Pizza Hut order. The cute/creepy humanoid named Pepper will be working at retailers around the world by the year’s end.

China has been making beer for 5,000 years. Newly discovered equipment suggests brewers used surprisingly modern techniques.

Our best wishes for a productive day. Please send any news, comments, ancient beer recipes, and adorable robots to hi@qz.com. You can download our iPhone app or follow us on Twitter for updates throughout the day.

Sudan’s nuclear deal, Spotify’s red ink, rise of the “grolar” bear

Good morning, Quartz readers!

WHAT TO WATCH FOR TODAY

Europe and the IMF spar over Greece. The euro zone’s finance ministers are expected to approve €10 billion ($11.2 billion) in new loans that will stave off a potential default in July. But they are at odds with the International Monetary Fund, which wants to give Athens “upfront and unconditional” debt relief (paywall).

Justin Trudeau meets with Shinzo Abe. The sharp-elbowed Canadian prime minister will talk with his Japanese counterpart ahead of this week’s G7 meeting. Trudeau is also expected to lobby Japanese automakers to open new factories in Canada.

A fresh batch of earnings. Best Buy, DSW, Kirkland’s, AutoZone, and Hewlett Packard Enterprise all report quarterly results.

WHILE YOU WERE SLEEPING

Spotify’s financials sent a mixed message. The streaming music company’s annual loss widened slightly last year compared to 2014, as revenues rose 77% to $2.1 billion. Almost 90% of revenue came from the 30% of users who pay for a premium subscription,highlighting the difficulties of making money from advertising.

Sudan signed a deal for its first nuclear reactor. Its electricity ministry agreed to a framework for a project with China National Nuclear Corp. Construction is slated to begin in 2021, followed by commercial operations in 2027.

Facebook said it will tweak its Trending Topics feature. After allegations that the service deliberately suppressed conservative views, the company will, among other changes, no longer rely on a top-10 list of websites to determine whether a subject is newsworthy. But it still denied the allegations.

North Korea rejected the idea of Donald Trump meeting Kim Jong-un. Last week the US presidential hopeful said he was open to talks with the North Korean leader about nuclear weapons. The nation’s UN ambassador dismissed the statement as nothing more than political posturing.

Toyota announced a recall for 1.6 million more vehicles in the US. The carmaker said the vehicles have potentially dangerousTakata air bag inflators, as with 4.7 million other vehicles it’s recalled in the US. Over a dozen other carmakers will issue reports on Takata-related recalls this week.

QUARTZ MARKETS HAIKU

Whipping in the wind,
First one way, then another
Red mountain banner

QUARTZ OBSESSION INTERLUDE

Matt Phillips on why Vietnam is globalization’s last big fan: “A 2014 survey by Pew Research noted that ‘the Vietnamese are the most enthusiastic backers of both trade and investment’ among the nations included in the Trans Pacific Partnership… Some 95% of Vietnamese respondents said that ‘trade is good,’ with high percentages concurring that trade both creates jobs and raises wages.” Read more here.

MATTERS OF DEBATE

Your brain is not a computer. The ubiquitous metaphor is based on faulty logic.

Your Facebook feed is keeping you from making the world better. Social media stymies our ability to understand others.

Breakfast is not that crucial. The cereal industry is responsible for most of the studies that claim otherwise (paywall).

SURPRISING DISCOVERIES

Climate change is creating interspecies romance for bears.“Grolor” bears are popping up where grizzly and polar bears share the same turf.

Paramount won’t sue its biggest fans, after all. The studio will let a homemade movie live long and prosper.

An ancient Indian remedy is the hot new hipster drink. Turmeric lattes are being hailed for their purported health effects.

Scientists have uncovered the genetics of nose shapes. Width and pointiness are determined by four separate genes.

Allergies might actually be a good thing. An emerging theorysuggests they protect against harmful environmental toxins.

Our best wishes for a productive day. Please send any news, comments, hybrid bears, and trendy lattes to hi@qz.com. You can download our iPhone app or follow us on Twitter for updates throughout the day.

India’s space shuttle, Obama in Vietnam, man-made meteors

Good morning, Quartz readers!

WHAT TO WATCH FOR TODAY

India launches a test version of its home-grown space shuttle.The short flight planned is a milestone toward India’s use of such reusable spacecraft, though the test model is about six times smallerthan the eventual full-fledged shuttle.

Austria learns whether it’s getting a far-right president. The office is mostly ceremonial, but the election—which is too close to call until postal votes are tallied—is considered a test of whether nationalist parties in Europe will manage to further capitalize on the migrant crisis.

Vietnam hopes the US will lift a 32-year arms embargo. But such a move by president Barack Obama during his visit to Hanoi would heighten tensions with China.

Ryanair reports earnings. Investors are focused (paywall) on the low-cost airline’s outlook amid terror jitters at European airports, uncertainty about the direction of oil prices, and the upcoming UK vote on staying in the European Union.

OVER THE WEEKEND

Tim Cook and Narendra Modi met. The May 21 visit by Apple’s CEO marked the first time India’s prime minister hosted an openly gay CEO. Cook outlined his vision for the world’s second-largest smartphone market, where Apple saw a 56% increase in sales for the fiscal second quarter, and where homosexuality remains a crime.

Japan reported a seventh straight month of falling exports.Shipments in April were hurt by a strong yen, weaker overseas demand, and supply-chain disruptions from last month’s earthquakes in the manufacturing hub of Kumamoto. A contraction in the April-June period looks likely for the nation’s economy.

The leader of the Taliban was killed. Afghanistan’s spy agencyconfirmed that Mullah Akhtar Mansour died in a US drone strike. Mansour, who assumed leadership of the group in July 2015, posed “a continuing, imminent threat to US personnel,” US secretary of state John Kerry said.

Venezuela’s food crisis intensified. Coca-Cola halted all production in Venezuela due to a sugar shortage, just the latest sign of the country’s desperate economic state.

Clinton’s lead over Trump in US polls shrank. Democratic presidential front-runner Hillary Clinton’s advantage over presumptive Republican nominee Donald Trump fell to three percentage points, from 11 in April, according to a Wall Street Journal/NBC News poll. The two would be the least-popular presidential nominees in the poll’s history.

QUARTZ OBSESSION INTERLUDE

Mike Murphy on the state of virtual-reality systems. “Apple is in a bit of a rut right now. Sales of the iPhone, Mac, and iPad are down, and so far, the Apple Watch hasn’t moved the needle in the way other recent Apple product launches have. Apple is in need of a new device that ties into its ever-growing ecosystem. But… if current consumer VR devices are anything to go by, it’s highly unlikely that Apple will be releasing a VR system anytime soon.” Read more here.

MATTERS OF DEBATE

Brexit is the biggest risk to global growth. Bank of Japan governor Haruhiko Kuroda says a UK vote to leave the EU is the most serious threat to the world economy.

A software-powered world needs liberal-arts majors. Creative intuition and a desire to break convention come in handy when writing code.

There’s a strategic reason why some women scientists look “frumpy.” Young scientists are advised that anyone who looks fashionable signals a lack of dedication to science, or worse, a preoccupation with money.

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SURPRISING DISCOVERIES

A four-armed robot can now improvise music as well as human bandmates. And it can play chord structures that would bephysically impossible for humans to hit.

The Rio Olympics organizers are giving out enough condoms for each athlete to have sex 84 times. That’s an Olympic record.

A man-made meteor shower could open the 2020 Tokyo Olympics. A Japanese startup aims to launch the artificial shooting stars by satellite.

A synthesizer has been created out of old telephone switchboards. The sound it produces is alien and scratchy, rather like the backing beats on a mid-90s Radiohead track.

Trees rest their branches at night. Scientists are studying whether the drooping can be likened to a sleep cycle.

Our best wishes for a productive day. Please send any news, comments, robot virtuosos, and frumpy fashion to hi@qz.com. You can download our iPhone app or follow us on Twitter for updates throughout the day.

Weekend edition—Farewell to “developing,” child refugees, Ukrainian scammers

Good morning, Quartz readers!

“Minister,” said Humphrey, “I beg you not to refer to it as a tin-pot African country. It is an LDC.”

In the 1980s British comedy Yes, Minister, the hapless minister learns from his smooth-talking civil-service mandarin that poor countries used to be called “underdeveloped,” but this was deemed offensive; then “developing,” but that was patronizing. Now they were Less Developed Countries, or LDCs. And as soon as this started causing offense, they would be renamed Human Resource-Rich Countries, or HRRCs.

The joke, of course, was that the words might change, but the mindset did not. The world was forever divided into rich and poor, mature and immature, civilized and savage.

That’s why the World Bank’s decision this week to ban the term “developing countries” from its World Development Indicators is so important. It’s not replacing it with a new, less patronizing name, but abolishing the “developed/developing” distinction altogether.

As Quartz’s Tim Fernholz explains, this is in part because the distinction is just no longer statistically useful. Over time, “developing” countries have, in fact, developed. On key health indicators like infant mortality, the world is a lot more homogeneous than it was. In income terms, some “developing” countries are closer to the West than to their erstwhile peers. There are still gigantic gaps in both wealth and wellbeing, but increasingly, it is the gaps not just between countries but also within them that statisticians, and policy-makers, should attend to.

Broad groupings of countries are useful. But they can become crutches for simplistic thinking, and have a habit of lingering long after they become outdated. (Remember the BRICs?) In abolishing “developed/developing” from its data sets, the World Bank is signaling that it’s time to let go of a widely-held but greatly antiquated view of the world. Perhaps other agencies that still retain such distinctions should follow its lead.—Gideon Lichfield

SPONSOR CONTENT BY HPE

Formula E brings the speed to Berlin’s Strausberger Platz “I’m looking forward to the schnitzel,” quips DS Virgin Racing driver Sam Bird, referring to the team’s next race in Berlin. Facing a new course in a city with a wild auto-racing history, the team is relying on Hewlett Packard Enterprise data for its race prep and race-day competitive advantage.

FIVE THINGS ON QUARTZ WE ESPECIALLY LIKED

Britain has turned its back on child refugees. Nine months before the start of the Second World War, Britain saved 10,000 child refugees from certain death in a remarkable humanitarian program, the “Kindertransport.” Aamna Mohdin describes the dangerous journeys children fleeing conflict face today, and why the idea of giving them sanctuary in the UK now has become so controversial.

The Bayer-Monsanto deal is a merger 4,000 years in the making. Centuries of productivity gains in farming, combined with a finite amount of arable land, has led to a push for efficiency in modern agriculture, writes Oliver Staley. It’s also meant diminishing returns for the industry. As a result, consolidation between crop science companies is one of the few ways for the agriculture industry to wring out future growth.

US immigration data should not be for sale. At a time when US border policy is under close scrutiny, Quartz’s David Yanofsky asked the government for data about the flow of people into the country. The government offered to sell him five years of statistics for almost $175,000. So now Yanofsky is suing. He explains his case for why the data should be freely available.

It’s time to retire the “plus-size” label. A growing number of women are boycotting “plus-size” clothing, arguing that it is exclusionary and marginalizing. If retailers are smart, argues fashion reporter Marc Bain, they would kill the category and include a greater range of sizes in their core lines instead.

How a single word can cause a diplomatic row. Chinese officials are extraordinarily sensitive to language, as Zheping Huang explains in two recent cases. One was the inaugural speech by Taiwan’s new president, in which she omitted a crucial word that hints at China-Taiwan unity; the other, Beijing’s use of “inspection” to describe a visit by high-ranking official to Hong Kong.

A PODCAST WE LIKE, AND THINK YOU’LL LIKE TOO

In this episode of Actuality, we visit an auction house to see how a billion dollars of contemporary art can be sold in just a week. But this bubbling avant-garde market isn’t just for the global elite—public museums are now housing more recently-made art than ever before. Is this a chance to educate the masses about billionaire-level aesthetics, or a risky gamble on fickle tastes?

FIVE THINGS ELSEWHERE THAT MADE US SMARTER

Germany is very, very tired. All of Europe’s problems—the refugee crisis, economic malaise, Russian belligerence—seem to land on Angela’s Merkel lap, observes John Micklethwait of Bloomberg. He predicts a vicious cycle: “As Germany gets ever more frustrated with Europe’s inability to change, it gets ever less likely to lead, so the change it wants becomes ever less likely to happen.”

The Ukrainian hacker who scammed the FBI. Lured to the US in a sting operation, a young Maksym Popov became a valued collaborator, helping the FBI catch other hackers. But it turned out he was playing a longer and cleverer game. From Kevin Poulsen in Wired, a remarkable true-life story of cyber-intrigue.

Why the TSA is so terrible. The US Transport Security Administration is trying to ramp up security even as it hemorrhages staff, and the result is long, long lines. Bloomberg View columnist Megan McArdle says the problem is bureaucratic psychology: Career-minded TSA officials have no incentive to admit their methods are inefficient, while the security staff serving eight-hour shifts have little reason to speed things up.

What we once wore. New York Magazine reminds us that “street style” is a centuries-old art in a city where clothing is the common language. Archival photos, essays, and remembrances from notableNew Yorkers show how the city’s residents have used clothes to explore, express, and expose themselves—from the hat-topped three-piece suits of the 1800s to the coveted North Face parkas of the 1990s. (Plus: that time Margaret Trudeau went commando at Studio 54.)

Life as a heroin-addicted sex worker. For the newish (and to some, controversial) drug lifestyle site The Influence, Caty Simon, a former heroin-using sex worker, offers a brutally matter-of-fact portraitof the trade, based her own experiences and interviews with others, and argues for decriminalizing both drugs and prostitution to prevent people getting trapped in desperate vulnerability.

Our best wishes for a relaxing but thought-filled weekend. Please send any news, comments, US immigration data, and long-lost New York fashions to hi@qz.com. You can follow us on Twitter here for updates throughout the day.

Alberta wildfires spread, Tim Cook in India, dung beetle navigation

Good morning, Quartz readers!

WHAT TO WATCH FOR TODAY

Tim Cook makes a surprise visit to India. Cook will meet with prime minister Narendra Modi, sources say, during his first trip to the country as Apple CEO. The company enjoyed a nice bump in quarterly sales in India this year, but is struggling to launch fully-owned stores in the country.

A top Chinese official drops in on Hong Kong. In anticipation of a visit by Zhang Dejiang, the chairman of the National People’s Congress, officials glued down paving stones to prevent protesters from throwing them. Zhang is the highest-ranking Chinese official to visit Hong Kong since tens of thousands demonstrated for democracy in 2014.

Fresh economic data from the US. Consumer prices likely accelerated in April, which could support the Federal Reserve’s plan to raise interest rates later this year. Housing starts and industrial production are also expected to rise.

Home Depot reports first-quarter earnings. Analysts expect a strong quarter at the bellwether for the housing and construction sectors. The home improvement chain has benefitted in recent years from falling unemployment and a boost in the sale of existing homes, leading to Americans spending more on remodeling projects.

WHILE YOU WERE SLEEPING

Twitter tweaked its messaging model. The social network plans to stop counting photos and links as part of the 140-character limit, Bloomberg reported. Currently photos count as 24 characters, and links 23. The change could roll out in the next two weeks.

The Alberta wildfires moved toward major oil sand facilities.Both Suncor Energy and Syncrude Canada confirmed they had evacuated workers from camps outside of Fort McMurray after the massive fires suddenly shifted north. Some 4,000 workers were relocated.

China cut Venezuela a break. Beijing eased the terms of its loans-for-oil deal with Caracas, ahead of a looming debt repayment. Venezuela is struggling under a recession caused by economic mismanagement and low oil prices, and owes China approximately $50 billion.

The CIA “mistakenly” erased a massive report on torture. The agency’s internal watchdog deleted its only copy of a 6,700-page Senate report on “enhanced interrogation” of terrorist suspects. Meanwhile, the Intercept is releasing the NSA’s internal version of the “Daily Brief,” which describes its surveillance programs alongside descriptions of staff members’ vacation plans.

Lending Club said it’s being investigated by the US Justice Department. Shares of the once-lauded online lender have collapsed since last week’s ouster of founder and CEO Renaud Laplanche over faulty internal controls. The company said it will cooperate with federal investigators.

QUARTZ MARKETS HAIKU

Evening marketplace
An old man buys an apple
Half off, just as sweet

QUARTZ OBSESSION INTERLUDE

Madhura Karnik on plans for a Indian space shuttle: “The Indian space agency’s track record is quite solid: In Sept. 2014, India became the first country to reach the red planet in the first attempt. The Mars Orbiter was also the cheapest-ever Mars mission, with a total expenditure of about $74 million.” Read more here.

MATTERS OF DEBATE

Beijing is on course to become Silicon Valley’s only serious competitor. Chinese startups are fast, cheap, and unconcerned with perks.

We shouldn’t think of Mars as a backup planet. Inter-planetary exploration and preservation of Earth are part of the same goal.

Corruption is a tool for Vladimir Putin. The Kremlin doesn’t want to purge corrupt elites—it wants to nationalize them (paywall).

SURPRISING DISCOVERIES

The world’s longest-servicing orchestra musician died during a performance. Jane Little, an 87-year-old bassist, was playing the last measures of “There’s No Business Like Show Business.”

A gun-toting, Trump-supporting Chinese immigrant is running for US Congress. Sue Googe is running in the state of North Carolina—and is using a font that looks a lot like Google’s logo.

An Australian pharmaceutical company is making Zika-proof condoms. They’re coated with an anti-viral gel, and will be given to Olympic athletes at the Rio Olympics.

Beyoncé’s “celebrate every woman” clothes are allegedly made in a sweatshop. Her company says its Sri Lankan factoryfollows “rigorous” ethical standards.

Dung beetles have stellar navigational skills. They use their photographic memories to store a mental map of the stars.

Our best wishes for a productive day. Please send any news, comments, dung beetle navigators, and made-in-India spaceships tohi@qz.com. And download our new iPhone app for news throughout the day.