Good morning, Quartz readers!
WHAT TO WATCH FOR TODAY
Japan’s top diplomat visits the Philippines. Foreign minister Fumio Kishida begins a three-day trip in which he will meet with his counterpart Perfecto Yasay Jr. and president Rodrigo Duterte. The Philippines and Japan have a history of cooperation, and both are disputing China’s territorial sea claims.
Bad news for fashion brands. Ralph Lauren may have designedTeam USA’s Olympic uniforms, but quarterly results are expected to be grim. Michael Kors’ earnings will likely suffer from store-opening costs and the strong US dollar.
Wendy’s serves up its quarterly results. A drop in sales is expected (pdf) amid a slow-down in the fast-food industry. Investors will want to know about the company’s forecast.
WHILE YOU WERE SLEEPING
Donald Trump walked a dangerous line. The GOP presidential candidate told a rally that “second amendment people”—a reference to the constitutional right to bear arms—might need to take action against his opponent, Hillary Clinton. Threats of violence against presidential candidates are a crime in the United States.
Brazil’s senate voted to open an impeachment trial against Dilma Rousseff. It voted 59 to 21 in favor of trying the suspended president for breaking the budget law, after a late-night debate.
Intel announced the purchase an AI startup. The computer chip giant will buy Nervana Systems to help its products meet the demands of artificial intelligence. AI work is expected to become increasingly important in data centers, where Intel processors dominate.
Procter & Gamble cut back on targeted Facebook ads. The world’s biggest advertiser said it would aim for a broader audienceafter determining that its narrow approach wasn’t effective on the social network. P&G said it won’t cut on spending on Facebook advertising, but the move might signal a new dynamic between Facebook and its biggest clients.
Disney reported a strong quarter and invested in streaming.Blockbusters including Captain America: Civil War and Finding Dory helped the company beat expectations. Separately it announced it’s buying a minority stake in BAMTech, which will work with ESPN to launch a subscription streaming service for live sporting events.
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QUARTZ MARKETS HAIKU
Markets are placid
August is spent at the beach
But stormy days loom.
QUARTZ OBSESSION INTERLUDE
Mike Murphy on Google’s dream for office drones: “Almost every videoconferencing system on the market seems to be difficult to set up, unreliable, or just a hassle to use. But a device described in a new Google patent might be able to do away with choppy video and awkward camera angles, and make it really feel like the faces of your coworkers are in the office with you. If you can put up with the buzzing.” Read more here.
MATTERS OF DEBATE
Protest votes are an illusion. Just because a message is sentdoesn’t mean it’s received.
The world only loves refugees when they’re in the Olympics.Some 65 million displaced people get no love at all (paywall).
China’s old tactics won’t fix its debt problem. Economic growthisn’t a cure-all anymore.
Soylent’s hottest creation is basically caffeinated cereal. Its “breakfast bottle” combines coffee, nutrition, and supplements.
AIs can identify you without seeing your face. Your body stance and surroundings will give you away.
Ancient Romans turned to magic to cope with theft. They wrote “curse tablets” when their clothes were nabbed from the baths.
Italian police cooked pasta for an elderly couple whose neighbors called about their sobbing. They weren’t in danger, justlonely and underfed.
A Dutch gymnast was sent home after a night of drinking in Rio. Yuri van Gelder, aka “Lord of the Rings,” was kicked off his team and withdrew from competition.
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