Good morning, Quartz readers!
We’ve just launched Power Moves, a series of stories examining the art of deal-making and conflict resolution. Over the next few weeks we’ll be launching additional stories. Check it out, and let us know what you think.
WHAT TO WATCH FOR TODAY
China conducts provocative military exercises in the South China Sea. Through Thursday, China is cordoning off a regionsoutheast of Hainan Island in defiance of last week’s ruling by an international court. China said it would continue construction on disputed islands and warned of “disaster” if rival navies continue their patrols.
Goldman Sachs struggles with the Brexit backlash. Earnings are expected to be higher, but only because last year’s results included a $1.45 billion fine. Revenue is expected to fall 15% and the bank’s outlook may be soured by the effects of the UK vote to leave the European Union.
Microsoft tries to ride high on the cloud. The software giant hopes its $26.2 billion LinkedIn purchase will boost the appeal of its Azure and Office products. But revenue will likely be flat due to theslow adoption of Windows 10 as PC sales drag.
WHILE YOU WERE SLEEPING
US Republicans held their national convention. One of the most notable speeches was from Donald Trump’s wife Melania, but for the wrong reasons: It copied from Michelle Obama’s 2008 address to the Democratic National Convention. There was also a boisterous but futile attempt by anti-Trump delegates to tweak the rules in their favor, and a scene-stealing stunt by late-night host Stephen Colbert.
Netflix plunged after its user numbers came up short. The streaming video giant added 1.7 million new subscribers in the second quarter, well below its 2.5 million target. “We are growing, but not as fast as we would like or have been,” the company said, sending its shares down 14%.
North Korea fired ballistic missiles into the sea. The show of force came days after the US and South Korea announced a final decision to implement an anti-missile system to counter threats from North Korea. The three missiles were launched early morning local time.
An axe-wielding refugee attacked passengers on a German train. Authorities said the 17-year-old attacker, an Afghan refugee, was shot dead by the police. Four passengers were injured, three of them seriously, according to local media.
SPONSOR CONTENT BY MANDARIN ORIENTAL
What is Oscar winner and intrepid sailor Morgan Freeman a fan of? The Mississippi, Nelson Mandela, fine dining… And many other unexpected things. Meet the star in this broad interview.
QUARTZ MARKETS HAIKU
Not much conviction
In the markets, as we watch
QUARTZ OBSESSION INTERLUDE
Gwynn Guilford on the exclusion of “LGBT” from the Republican party platform. “The group, which meets every four years to articulate the party’s policy agenda, was hashing out language on the Orlando terrorist attack to add to the national security section…A delegate from the District of Columbia proposed adding that the attack was ‘on LGBT people’ to clarify that fact. In those three words lay an unprecedented source of controversy for the usually deadly dull platform committee.” Read more here.
MATTERS OF DEBATE
The attempted coup won’t hurt Turkey’s economy. That’s one small reason for optimism in an otherwise grim time for the country.
Silicon Valley’s future involves more partisan politics. Peter Thiel’s support of Donald Trump is just the beginning.
There won’t be a birth control pill for men anytime soon. Not because it’s impossible, but because the pharmaceutical industryisn’t motivated to try.
Dozens of US nuclear bombs are precariously stored in a Turkish airbase. They are less than 100 miles from the Syrian border, where the US is bombing ISIL fighters.
Finally, it’s possible to serve draft beer on an airplane.Heineken and KLM took on the challenge of tapping kegs at altitude.
A mining company is saving a rare fish from extinction. The checkered pupfish can’t survive without the minerals supplied by British Gypsum.
Full-time jobs are best for young brains. Working more than 25 hours a week might impair cognitive function for people over 40.
The world is getting more exercise because of Pokémon Go.Fitness tracking data shows the mobile game triggered a massive surge in walking.
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