Weekend edition—Women in power, the human cost of tea, illusory time

Good morning, Quartz readers!

If Hillary Clinton, now officially the Democratic candidate, wins election in November, she’ll make history, and not just as America’s first female president. It would mean that for the first time ever, three of the world’s most powerful democracies would be led by women: the US, the UK, and Germany.

What might that mean? Management experts studying leadership saywomen are more collaborative, more inclusive leaders. They build teams; in Clinton’s words, they understand it “takes a village” to run a country, and the world. They do not believe, as Donald Trump does (and not just him: many men do), that they “alone can fix it.”

The US, UK, and Germany all face the big challenges of the rich world today: immigration, terrorism at home and abroad, and a revolt against the one percent. It’s easy to imagine Clinton sitting down with Britain’s Theresa May and Germany’s Angela Merkel to hash out solutions to shared problems.

It’s also easy to see this troika of women developing a cohesive approach towards Russia, Iran, China, Syria, and other countries whose interests often run counter to those of the West. A Trump in that mix? He and his associates look uncomfortably cosy with Russia, and a Trump-Putin axis would be a lot more dangerous for the world than a Clinton-Merkel-May one.

Gender should not be the deciding factor in electing someone to the world’s most powerful office. But the female leadership style Clinton espouses seems more attuned to the needs of the world now. One thing’s for sure: She’s unlikely to brag about the size of her hands, or anything else.—Janet Guyon


The horrendous human cost of Assam tea. No decent tea shop in the world is complete without its pungent fragrance. But as Devjyot Ghoshal discovers, the Assam region’s 100-year history—from being set up by the British to the Indian government’s mismanagement—has stopped it from taking care of its own people. Thousands of expectant mothers who labor in its plantations have died as a result.

The neuroscience of cool. Marc Bain traces the fascinating evolution of the concept of “cool,” from its introduction (via jazz culture and James Dean) as a symbol of outsiderism, to its mainstreaming, codification, and quantification by marketers and even neuroscientists, who can map in the brain the emotional reactions evoked by looking at cool things.

How the US screwed up chip cards. Decades behind some other countries, the US finally introduced credit and debit cards with chips for added security last year—and it’s been a disaster. Ian Kar explains the muddle of mixed incentives and poor decisions that caused it.

China’s lethal floods and its lethally incompetent officials. For the second time in a month flooding in rural China has killed people, and excessive, unregulated building is being blamed for making towns vulnerable to extreme weather. Echo Huang and Zheping Huang unpick how it came about in Hebei province.

The Clintons and their “pantsuits.” Jenni Avins deliciously skewers the convention of writing about political wives’ wardrobes with a button-by-button dissection of Bill Clinton’s navy-blue two-piece. And Marc Bain on the long feminist historical legacy of the white suit Hillary Clinton wore to accept her nomination.


Malaysia’s stolen billions. A Swiss banker and a muckraking British journalist helped crack open a global financial scandal that has engulfed Malaysia’s prime minister. Randeep Ramesh details for The Guardian how the unlikely duo brought a cache of documents to light that exposed the billions stolen from 1MDB, the Malaysian sovereign wealth fund.

For better policing, add female cops. The vast majority of mass killers, domestic abusers, and sexual assailants are male, and most of their victims female. Yet just 9% of cops worldwide are women. While racism is the undercurrent of recent unrest, writes Sarah Smarsh in Longreads, “toxic masculinity is the force that makes it lethal.”

The source of Rio’s filthy water. Guanabara Bay, which will host Olympic events such as distance swimming and sailing, is so dirty that doctors are warning athletes not to get water in their mouths. But the Sarapuí River that feeds it starts clean and drinkable. The New York Times’ John Branch describes how the river’s journey through areas rife with poverty now threatens the athletes’ health and Rio’s image.

Is Germany at the end of its golden age? Angela Merkel inherited an economy on the upswing and guided the country through a decade of prosperity and self-confidence. But immigration, terrorism and economic shocks have knocked Germany off its pedestal of well-being, and Konstantin Richter at Politico argues it may not climb back on.

The passage of time might be all in our heads. There’s a heated debate in physics over whether the distinction between past, present, and future—and our perception of moving through them—is physical or just an illusion, Dan Falk writes in The Atlantic. It hinges on the idea of a “block universe,” a static block of space-time in which any flow of time must be a mental construct.

Our best wishes for a relaxing but thought-filled weekend. Please send any news, comments, missing Malaysian billions, and historically meaningful pantsuits to hi@qz.com. You can follow us on Twitter here for updates throughout the day.


#Clinton’s big speech, #Alphabet and #Amazon soar, sheepdogs vs. robots

Good morning, Quartz readers!


The US releases second-quarter GDP figures. Economists expect the nation’s gross domestic product increased at an annual rate of 2.6%, the fastest in a year, thanks in large part to strong consumer spending. On the downside, they anticipate weak exports and moderate inventory accumulation.

Tesla marks the opening of its “gigafactory” in Nevada. Select Tesla owner will get a tour of the sprawling facility just east of Reno, similar to the one Quartz took earlier this week. The complex isn’t entirely finished, but it’s slated to eventually become the world’s largest building (by footprint).

Pope Francis visits Auschwitz. During a five-day visit to Poland, the pontiff will pay tribute to the victims of the Nazi death camp, in a gesture intended to improve Catholic-Jewish relations.


The US’s Democratic party wrapped up its national convention. Retired general John Allen gave a bombastic endorsement of Hillary Clinton for president. The father of a Muslim US soldier who died in action asked Donald Trump, through the cameras, if he’d ever actually read the US constitution. Clinton, in the night’s main speech, warned against electing “a man you can bait with a tweet.”

The Bank of Japan opted for a modest dose of monetary stimulus. Confounding expectations, the central bank neither decreased its main interest rate nor altered its targets for buying government bonds, but it will significantly increase its purchases of exchange-traded stock funds. In February the bank surprised markets by setting interest rates below zero for the first time.

Alphabet and Amazon turned in excellent quarters. The Google parent’s earnings and revenue easily topped expectations, sending shares up by 5% in after-hours trading. Amazon posted its third straight quarterly profit, thanks to its rapidly growing, if rather unsexy, cloud computing unit.

Syria’s Nusra Front militants announced their split from al-Qaeda. Leader Abu Mohammed al-Julani said in a video message that the move was intended to remove the pretext for bombings by the US and Russia. Washington called it a “rebranding exercise” that would do nothing to change its plans.

Microsoft announced jobs cuts. The software giant will lay off 1,850 workers in its struggling smartphone business, mostly in Finland, where in 2014 it bought Nokia. The acquisition was supposed to help Microsoft better compete against Apple and Samsung, but the results have fallen well short of expectations.


Good Google earnings
But the market seems to be
So very sleepy.


Akshat Rathi on the science or spin behind a new Alzheimer’s drug: “To understand the hype around TauRx’s ‘breakthrough’ drug we must understand just why Alzheimer’s is such a hard disease to treat… The drugs that exist to treat Alzheimer’s only relieve symptoms temporarily and they don’t work in all patients.” Read more here.


Hacking the vote could be next on Russia’s to-do list. US voting machines and election systems are woefully vulnerable.

3D printing is a “new industrial revolution.” New design techniques and on-demand manufacturing could change everything.

Voting with your heart is immoral. Fervent idealism makes voters value loyalty to a candidate over the consequences of their choices.


Add sheepdogs to robot hit list. SwagBot, designed for farms, can herd animals on its own or with the help of drones.

The ice bucket challenge worked. The social media stunt funded a breakthrough in ALS research.

Silicon Valley banks are handing out no-money-down mortgages. That could spell trouble if the intertwined tech and real estate bubbles burst.

A skydiver is jumping out of a plane without a parachute. After falling 25,000 feet, he plans to land in a giant net.

African startups are taking advantage of Google’s blind spot.They’re creating sophisticated apps for dumb phones.

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

CWS Market Review – July 29, 2016

CWS Market Review

July 29, 2016

“If markets were rational, I’d be waiting tables for a living.” – Warren Buffett

Fortunately for us and for Warren, the market ain’t so rational. In fact, sometimes I think it’s defiantly anti-rational.

Consider that for the last 11 days, the stock market has closed up, down, up, down, up, down, up, down, up, down and up. I can almost sense a trend. This is one of the longest “alternating” streaks on record.

Not only that, but the market has reverted to its pre-Brexit somnolence. The daily spread between highs and lows has nearly vanished. Ryan Detrick notes that over the last 11 days, the S&P 500 has traded within a tiny range of just 0.92%. For 11 days, that’s one of the narrowest ranges in decades.

Most of the headlines this week have been dominated by the Democrats’ convention in Philadelphia, but it’s been an eventful one for Wall Street. We had six more Buy List earnings reports. I’ll go over all of them in a bit. We also had a Federal Reserve meeting. The central decided, again, to forego raising interest rates. I’ll also preview three more Buy List earnings reports for next week. But first, let’s look at this week’s batch of earnings.

Wabtec Guides Lower, Express Scripts Guides Higher

On Monday morning, Wabtec (WAB) reported Q3 earnings of $1.05 per share. That was three cents below Wall Street’s consensus. This was a tough quarter for railroad-services company. Quarterly revenue came in at $723.6 million, which was below estimates of $806.48 million. WAB’s overall business is doing well, but their freight business is under some pressure.

Raymond T. Betler, Wabtec’s president and chief executive officer, said: “Our Transit business is performing well, with revenue growth, improved profitability and a strong backlog. Our Freight business, however, continues to be affected by overall rail-industry conditions and the sluggish global economy. In this environment we are focused on controlling what we can by aggressively reducing costs, generating cash and investing in our growth opportunities, including acquisitions. As demonstrated by our first-half operating margin of 18.4 percent and cash from operations at 14 percent of revenues, we are managing the business well in these market conditions.”

Wabtec lowered its full-year guidance range to $4 to $4.20 per share. The previous range was $4.30 to $4.50 per share. The stock dropped below $66 during Monday’s trading, but has since gained back some lost ground. This is a disappointing report from Wabtec, but I’m not ready to throw in the towel. This is a solid company. This week, I’m lowering my Buy Below on Wabtec to $75 per share.

After the closing bell on Monday, Express Scripts (ESRX) reported Q2 earnings of $1.57 per share. That matched Wall Street’s consensus on the nose. It was also in the dead center of Express’s own range of $1.55 to $1.59 per share. The company didn’t have an update on its acrimonious lawsuit against Anthem.

I was pleased to see optimistic guidance from Express. For Q3, they expect earnings between $1.72 and $1.76 per share. Wall Street was at $1.72. Express also bumped up the low end of its full-year forecast by two pennies. True, it’s not much, but we’ll take it. The pharmacy-benefits manager now expects 2016 earnings to range between $6.33 and $6.43 per share. That means the stock is going for about 12 times this year’s earnings. That’s not a bad deal. I’m raising my Buy Below on Express Scripts to $81 per share.

CR Bard Raises Guidance but Ford Disappoints

CR Bard (BCR) gave us another very good earnings report. For Q2, the medical-devices company made $2.54 per share. That beat the Street by seven cents per share. They also topped their own guidance. which was for $2.43 to $2.47 per share. Quarterly sales rose 8% to $931.5 million. Not including forex, sales were up 9%.

Timothy M. Ring, chairman and chief executive officer, commented, “We continue to see strong results as we prioritize product leadership across the globe. Our commitment to innovation and product differentiation, along with a focus on delivering economic benefits to the healthcare system, have driven global demand for our products, and our targeted investments in emerging markets continue to expand our presence internationally. We believe this investment approach positions us well to continue to provide attractive returns to our shareholders.”

Now for guidance. For Q3, Bard sees earnings between $2.51 and $2.55 per share. They see full-year earnings coming in between $10.10 and $10.20 per share. That’s an increase from the previous guidance of $10.05 to $10.18 per share. Bard is clearly moving in the right direction. I’m keeping my Buy Below on Bard at $231 per share.

On Thursday, we had a big disappointment from Ford Motor (F). For Q3, the company earned 52 cents per share, which was eight cents below Wall Street’s forecast. The automaker also warned that the second half of this year might be weak.

To its credit, Ford is standing by its previous forecast, which is to beat last year’s pre-tax profit of $10.8 billion. To be fair, this quarter wasn’t so bad, but it was helped by generous incentives. That’s useful short-term strategy, but it’s not a long-term fix.

“We’re committed to meeting our guidance, but it is at risk,” Chief Financial Officer Bob Shanks told reporters Thursday. The company now says it’s unlikely that U.S. vehicle sales will break last year’s record, and Shanks predicted further contraction in 2017. “We don’t see growth, at least in the near term.”

After a record streak of six straight years of annual U.S. auto-sales growth, Ford is joining analysts who are skeptical that the record set in 2015 will be topped this year. Consumer demand has gone slack, forcing automakers to dial up deals to lure buyers to showrooms. For the first six months, industry-wide light-vehicle sales rose just 1.5 percent, while incentives jumped 13 percent, according to researcher Autodata Corp.


The U.S. auto market slowed sooner than Ford anticipated, Shanks said. The automaker now sees U.S. auto sales of 17.4 million to 17.9 million vehicles, down from an earlier forecast of about 18 million. Excluding medium and heavy trucks, the new projection translates to a light-vehicle market of 17.1 million to 17.6 million, compared with last year’s record 17.5 million.

“We do think the U.S. is coming down from what we expected,” Shanks said. “We saw higher U.S. incentives — that was for the industry and for us. The industry increased, and we increased in line with the industry.”

On Thursday, shares of Ford dropped 8.2% to close at $12.71. Frankly, this was a bad showing from Ford. I’m going to drop my Buy Below price on Ford down to $14. Don’t worry that the dividend is at risk. The stock currently yields 4.7%.

The Strong Yen Lifts AFLAC

I’m happy to see that AFLAC (AFL) had another stronger quarter. For Q2, the duck stock earned $1.71 per share in operating earnings. (Remember, with insurance companies, it’s often better to look at operating earnings rather than net earnings.) That beat estimates by three cents per share.

Once again, the stronger yen helped AFLAC’s bottom line, which is a welcome change from what we’ve experienced the last few years. Last quarter, the strong yen added nine cents to AFLAC’s operating earnings. Not counting currency, operating EPS rose by 8% last quarter.

AFLAC stood by its full-year operating EPS guidance of $6.17 to $6.41, but that’s based on last year’s average yen, which was 120.99 to the dollar. The yen is now at 104! The company said that if the yen stays between 100 and 110, they see Q3 coming in between $1.58 and $1.86 per share. That’s a very large range.

AFLAC is usually a straight shooter (or quacker?) when it comes to their guidance, so maybe they’re as confused as the rest of the currency market. Either way, this is a good company. I’m lifting my Buy Below on AFLAC to $75 per share.

After the bell on Thursday, Stericycle (SRCL) reported Q2 earnings of $1.18 per share. The medical-waste company matched Wall Street’s estimate. Revenues came in light, and the stock took a dive in the after-hours market.

Frankly, I haven’t had enough time to scrutinize the earnings. Their press release doesn’t contain a lot of information, and I’d rather listen to the earnings call before I offer more specifics. But I’ll say that the numbers are largely what I expected from Stericycle. I promise to have more info on SRCL next week.

Three Buy List Earnings Reports Next Week

This year looks to be Fiserv’s (FISV) 30th straight year of double-digit earnings growth. The company made $3.87 per share last year, and they see 2016 coming in between $4.32 and $4.44 per share. That works out to a growth rate of 11.6% to 14.7%. Fiserv reports after the close on Tuesday, August 2. Wall Street’s consensus is for $1.07 per share.

Cerner (CERN) didn’t start off as a strong performer for us this year, but it has rallied in the last few weeks. For Q2, the healthcare IT company said it expects earnings between 56 and 59 cents per share. For all of 2016, Cerner’s guidance is $2.30 to $2.40 per share. TheStreet said that Cerner might be an acquisition target for IBM. Cerner also reports on Tuesday afternoon. Wall Street expects 57 cents per share.

Cognizant Technology Solutions (CTSH) will be our final Buy List stock to report this earnings season. Q2 earnings are due out on Friday morning, August 5. Cognizant said they expect Q2 earnings of 80 to 82 cents per share. Wall Street expects 82 cents per share. For all of 2016, CTSH expects $3.32 to $3.44 per share.

That’s all for now. Our first look at Q2 GDP comes later today. Next week, earnings season for our Buy List wraps up. We’ll also get some of the key turn-of-the-month econ reports. The July ISM report comes out on Monday. Personal income and spending are on Tuesday. Then on Friday, we’ll get the jobs report for July. Be sure to keep checking the blog for daily updates. I’ll have more market analysis for you in the next issue of CWS Market Review!

– Eddy

Named by CNN/Money as the best buy-and-hold blogger, Eddy Elfenbein is the editor of Crossing Wall Street. His free Buy List has beaten the S&P 500 eight times in the last nine years. This email was sent by Eddy Elfenbein through Crossing Wall Street.
2223 Ontario Road NW, Washington, DC 20009, USA

#Apple’s iPhone slump, Kerry in Manila, #Starbucks fedoras

Good morning, Quartz readers!


The Philippines and the US talk about the South China Sea. In Manila secretary of state John Kerry will encourage Philippine president Rodrigo Duterte to engage in dialog and negotiations with Beijing over the contested waterway. Tensions have increased after an international tribunal ruled heavily against China’s sweeping claims to the strategic waterway.

The Federal Reserve holds off on a rate hike. Market volatility and uncertainties around Brexit will play a role as the US central bank is expected to keep interest rates stable. A rate hike could still happen as early as September.

Facebook’s quarterly results. Platforms like Instagram and Messenger are expected to drive the social media giant’s revenue and earnings. Analysts expect user growth of 15.3% from a year ago. Soft drink companies Coca-Cola and Dr Pepper Snapple also report earnings.


European households have accumulated more than €10 trillion in savings accounts. However, many investors fail to take advantage of the highest interest rates available and earn virtually no return on their money. Increased awareness around European interest rates could help optimize savings and increase returns for savers. Here are a few ways investors can benefit from higher interest rates.


Hillary Clinton officially became the Democratic nominee for US president. Her husband Bill called her the “best change-maker I have ever known” on an historic night that saw a woman nominated to lead a major-party presidential ticket for the first time in the nation’s history. Now comes the hard part.

Apple’s iPhone slump got worse. Quarterly profit plunged by 27% and revenue was down by 14.6% as smartphone sales slowed, especially in China. But the results weren’t quite as ugly as Wall Street expected, sending Apple shares higher in after-hours trading.

Twitter disappointed investors again. The social media firm (remember when it was called a “microblogging” service?) missed quarterly revenue targets and warned of more trouble to come. Twitter shares were down 9% in after-hours trading, and if CEO Jack Dorsey can’t end this slump a sale may become inevitable.

LeEco bought Vizio for $2 billion. The Chinese streaming video company will operate the California-based flatscreen TV maker’s business as a subsidiary, but will spin off its data business into a new private company. LeEco’s billionaire founder Jia Yueting wants his company to be the Netflix, Apple, and Tesla of China.


Apple earnings plunged
iPhones aren’t selling well
But better than feared


Ananya Bhattacharya on the robot that’s helping the disabled feed themselves: “Obi includes a placemat with a dinner-plate-sized dish with four compartments on top, which mount onto a white platform. Attached to one side of the sleek, white platform is a robotic arm fitted with a spoon. Once placed on a table in front of the recipient, a caregiver can grasp the arm and teach Obi the delivery location.” Read more here.


Russia will field the cleanest team in Rio. The International Olympic Committee is subjecting Russian athletes to a rigorous testing program.

America shouldn’t drop the Trans-Pacific Partnership. Despite opposition at home, Asian allies would see it as a betrayal.

China’s anger at the treatment of its journalists in India is stunningly hypocritical. Beijing has a long history of expelling and censoring foreign journalists.


Lufthansa is selling airline tickets on Airbnb. The airline is willing to try just about anything to turn its business around.

Latvian women and Dutch men are the tallest people in the world. The US has been dropping in height rankings, suggesting a major public health problem.

Political turmoil is good for pizza delivery. Civil unrest and protests are making Americans more interested in ordering in.

The US Navy used Pokémon Go as a recruitment tool. It later retracted the ads, admitting they weren’t quite in line with its mission.

Starbucks baristas are now allowed to wear fedoras. It’s part of a corporate move to improve employee morale.

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

Feuding Democrats, Japan mass stabbing, cockroach milk

Good morning, Quartz readers!


John Kerry meets with Rodrigo Duterte. The US secretary of state is visiting the Philippines for two days for talks with the controversial Filipino president, focused on the dispute between China and its neighbors over South China Sea claims. Duterte has long been suspicious of the US over an explosion in Davao City when he was mayor there in 2002.

Policymakers at the US Federal Reserve discuss interest rates.The Federal Open Market Committee begins its two-day gathering. With strong employment data, more members will argue for a rate increase hike this year. Others will urge a more cautious approach and warn against stoking rate hike expectations.

Apple tries to beat very low expectations. Analysts are feeling quite gloomy about the tech giant, which is expected to post a 15% decline in revenue from a year ago as iPhone sales dip and business in China slows. Twitter also reports earnings, and indications are pointing to yet another weak quarter.


The Democratic National Convention opened in Philadelphia.In support of Hillary Clinton, senator Elizabeth Warren accused Donald Trump of trying to divide people with hate and fear. Bernie Sanders urged his supporters—many angry after leaked emails suggested the party undermined him—to unite behind Clinton. Michelle Obama said Clinton would create a better future for America’s children.

Solar Impulse 2 completed its journey around the world. The Swiss-engineered aircraft landed back at the starting point, Abu Dhabi. It has traveled some 40,000 km (25,000 m) powered by 17,000-plus solar cells in the day and lithium polymer batteries at night since it took off in March 2015. “The future is clean,” said pilot Bertrand Piccard after landing. “Let’s take it further.”

Nineteen people were killed in a horrific mass stabbing in Japan. Police say dozens were also injured in the attack, which occurred at a facility for disabled people in the city of Sagamihara. The attacker reportedly said he wanted people with disabilities to disappear. Officials ruled out a link to terrorism.

South Sudan president Salva Kiir found a new first vice president. Former peace negotiator Taban Deng Gai replaces former rebel Riek Machar, a fierce rival of the president who acquired his post as part of a peace deal. Supporters of the two men clashed a few weeks ago, leaving hundreds dead and threatening to revive a civil war.


There’s just too much oil
It’s piling up everywhere
And that’s why it’s cheap


Devjyot Ghoshal on the pregnant women dying in India’s tea plantations: “Assam teas are also supplied to makers of major global brands such as Liptons, Twinings and Tetley… Yet Assam’s prized tea industry has turned into a veritable death trap for thousands of expectant mothers. Most of them belong to tribal communities that were brought to work in the tea gardens over a century ago.” Read more here.


Yahoo is a cautionary tale about waiting too long to sell. The company turned down a $45 billion Microsoft offer, then sold its operational business for a mere $4.8 billion.

Counterpoint: Yahoo shareholders actually got a pretty good deal. Marissa Mayer couldn’t turn around a dying business, but in the end it was worth far more than zero.

“Hustle stats” at work would recognize the contributions of women. Simply “leaning in” isn’t for everyone.


Boeing thinks airlines will need 30,000 new pilots a year. Asia in particular is expected to drive global demand.

All life can be traced back to one single-cell bacterium. LUCA (the Last Universal Common Ancestor) lived in deep sea vents(paywall) four billion years ago.

Kids are accidentally ingesting marijuana in Colorado. Calls to the regional poison center were up over 500% from 2009.

Human breast milk isn’t just for humans… Moms create complex sugars solely to feed bacteria in the baby’s microbiome.

…And cockroach milk could be the next superfood. One breed produces a protein-rich “nourishing secretion” that could besynthesized for humans.

Our best wishes for a productive day. Please send any news, comments, cockroach milk samples, and universal common ancestors to hi@qz.com You can download our iPhone app or follow us on Twitter for updates throughout the day.

Hillary’s convention, Japan’s export woes, cuteness studies

Good morning, Quartz readers!


The US Democratic National Convention kicks off. First lady Michelle Obama and senator Bernie Sanders will both give speeches at the convention in Philadelphia, where the first day will carry a “United Together” theme. Later this week Michael Bloomberg will speak, endorsing presumptive nominee Hillary Clinton.

The Arab League summit meets in Mauritania. The organization, which brings together over 20 Arab countries, will focus on terrorism and national security. Egyptian president Abdel Fattah al-Sissi and King Salman of Saudi Arabia are both expected to attend, as will Sundanese president Omar al-Bashir, despite the warrant for his arrest issued by the International Criminal Court.

Verizon acquires Yahoo for $4.8 billion. The US wireless carrier has been expanding online content and advertising since last year’s AOL deal, and sees value in Yahoo’s billion users, even though other investors do not. The deal will be announced before markets open in New York.


The head of the Democratic National Committee resigned over embarrassing emails. Debbie Wasserman Schultz said she will leave her post as DNC chairwoman after the US Democratic party’s convention this week. Emails leaked on Friday suggest the party undermined Vermont senator Bernie Sanders’ campaign, while aiding Hillary Clinton’s—just as he had accused it of doing.

Japan reported its export numbers for June. Shipments fell 7.9% from a year earlier, the ninth consecutive drop, suggesting a still-tepid economic recovery. The strong yen is hurting many key Japanese companies, making their products less competitively priced overseas. The Bank of Japan will meet later this week to ponder more monetary stimulus.

Nintendo’s shares plunged after it warned Pokemon Go won’t boost earnings much. The struggling gaming giant has a hit with the smartphone game, but it warned late Friday the game will have a limited impact on its earnings. Shares fell as much as 18% early on Monday, after a big rally in the weeks following the game’s debut and runaway success.

An ISIL attack killed more than 80 people in Afghanistan.Suicide bombers struck a rally by mostly Shiite Muslims in the capital Kabul on Saturday, injuring hundreds in addition to the fatalities. ISIL described the assault, the nation’s deadliest since 2001, as a “martyrdom attack” on Shiites.


Olivia Goldhill on why scientific research in behavioral genetics still makes people feel uncomfortable: “Think of someone whose political ideology leads them to ignore and groundlessly reject science. Typically, this often describes those on the right of the political spectrum, where climate change, women’s reproductive health, and even evolution are routinely dismissed. But a massive and fast growing field in science—behavioral genetics—has a huge body of conclusive evidence that, at first reading, seems at odds with left-wing ideology.” Read more here.


Donald Trump is terrifyingly similar to Vladimir Putin. Even hismannerisms and body language suggest Trump offers an American version of the propaganda, fear, and hatred put forward by Putin.

Human-like robots merit more attention than robotic humans.Changes in our technology and environment are presenting us with constant stimulus and making us behave in an increasingly machine-like way.

Celebrity gossip isn’t all bad. In 2016, the world is drowning in misery and violence, and we need a break. Taylor Swift’s latest feud is the perfect escapism.


A 15-lb lobster was rescued from being served as dinner at a Florida restaurant. Larry, estimated to be between 60 and 110 years old, is now headed to the Maine State Aquarium.

The study of “cuteness” is an emerging academic filed. There are more than 100 publications in an online “cute studies” bibliography, which combines behavioral science, cultural studies, and biology.

Russia won’t be completely banned from the summer Olympics. Though its track and field team is banned, other Russian athletes can individually apply and, if they meet strict criteria, could be allowed to attend.

Birds are communicating with humans in Mozambique.Traditional Yao honey-hunters reward birds that show the way to honey with beeswax. And scientists have now noted inter-species communication between the two groups.

An 18-year-old has invented the “Swiss Army knife” of drones.He’s been flying drones since he was 12 years old, and wrote up awish list of drone functions before making his dream a reality.

Our best wishes for a productive day. Please send any news, comments, giant lobsters, and drug-free Russian athletes tohi@qz.com You can download our iPhone app or follow us on Twitterfor updates throughout the day.

Alcuni articoli della scorsa settimana che vale ancora la pena di leggere 25-07-2016

La Storia corre, l’Europa dorme


Come sono cambiati i consumi delle famiglie in Italia

Come sono cambiati i consumi delle famiglie in Italia

Bitcoin e banche, il patto tra nemici


Rischio terrorismo e riciclaggio, i money transfer sono incontrollabili


Brexit e l’Europa «sociale»


Mps, piano anche senza lo Stato


La protezione del risparmio e le responsabilità


Dalla Brexit a Trieste, un filo rosso dissacrante spiega l’obiezione fiscale


Più leggi, più guadagni, ecco il risultato di un’interessante ricerca


Norvegia regina della sicurezza previdenziale, l’Italia è solo 28° (dopo Slovenia e Slovacchia)


Il rischio paese e la sicurezza che serve agli imprenditori


Le élite, il bene pubblico e le ragioni dell’economia


I 20 punti di Cairo per il nuovo Corriere


Meno tasse, più dazi e opere infrastrutturali: ecco la Trumpeconomy


La soluzione da trovare dentro le regole


Il veleno protezionista nutre la cattiva politica


Perché il leave piace anche ai cosmopolitan chic della City


Pubblica o privata, ma la soluzione sia definitiva


Le Business school del Regno Unito non temono i contraccolpi della Brexit


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Sofferenze e Brexit, un intreccio rischioso


Vincitori e vinti nella guerra dello shale oil


L’Europa alla conquista della Luna (grazie alla tecnologia italiana)


La cessione Npl, il nodo dei rating interni e i rischi di impatto fino a due miliardi


Banche, ecco la road map dopo gli stress test


Draghi, scrollatosi la Brexit di dosso, soffia sulle ferite bancarie italiane