Good morning, Quartz readers!
WHAT TO WATCH FOR TODAY
The UK measures consumer price inflation. Analysts will look to the CPI for the first solid indication of how consumers have faredsince June’s vote to exit the EU. They expect a -0.1% contraction and potential inflation volatility as a result of a weaker pound, which is facing three-year lows against the euro.
Gawker’s future is decided. The bankrupt media company will be sold to the highest bidder in an effort to pay off its $140 million penalty in a privacy case brought by wrestler Hulk Hogan. Meanwhile Peter Thiel, who helped finance Hogan’s suit, argued in the New York Times that online privacy is an ongoing problem (paywall).
Home Depot reports its second-quarter earnings. The US’s biggest home improvement chain will likely show another strong performance, as consumers renovate and touch up their homes. The results could give insights into consumer confidence.
WHILE YOU WERE SLEEPING
Google rolled out a video chat app. Called Duo, it will compete with Apple’s FaceTime and others and is designed with simplicity in mind. Instead of requiring users to have a Google account, the smartphone app asks them to register and find other users via their phone number.
AIG agreed to sell its mortgage-guarantee unit for $3.4 billion.American International Group will sell United Guaranty to Bermuda-based insurer and reinsurer Arch Capital Group. The deal will help AIG—the biggest commercial insurer in the US and Canada—meet its goal of returning $25 billion to shareholders (paywall).
Donald Trump laid out his plan to combat terrorism. The Republican presidential nominee’s vision includes (paywall) an end to an “era of nation-building” and the start of joint military operations with Russia. Speaking in Ohio, Trump also called for “extreme vetting” of people entering the US.
A mass kidnapping took place in Mexico. Gunmen abducted about a dozen men from an upscale restaurant in Puerto Vallarta, popular for its beach resorts, in what authorities said was likely a gang-on-gang crime. Several drug trafficking organizations have been competing to control Jalisco state, where Puerto Vallarta is located.
The US government halted the trading of a sketchy $35 billion stock. The Securities and Exchange Commission suspended Neuromama, which trades on the unregulated over-the-counter stock market, over concerns about potential manipulation. The company’s share price has quadrupled this year, giving it a paper value above Tesla or Delta, despite the fact that it has not posted its financial results since 2013.
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Formula E’s Fanboost helps drivers get to the finish line faster.Fans can affect the outcome of a race by voting for their favorite drivers on social media and the Formula E website. The 3 drivers with the most votes are awarded a temporary boost in power,providing FanBoost winners with a competitive edge.
QUARTZ MARKETS HAIKU
Stocks keep on climbing
Banks keep on stimulating
So where does it end?
QUARTZ OBSESSION INTERLUDE
Alison Griswold on the price of the ‘Uber-for-anything’ promise. “Uber ‘disrupted’ the taxi industry by offering a better service at a lower price. It’s much less apparent whether on-demand delivery startups can do the same. Companies like Postmates and Instacart are inherent middlemen selling Uber’s speed and app-based convenience without its clear cost advantage. Most consumers are only willing to pay so much.” Read more here.
MATTERS OF DEBATE
Joining an expensive gym encourages exercise. Research shows that putting money on the line can help us follow through with our goals.
India is still plagued by its caste system. On the 70th anniversary of the country’s independence, the most oppressed class—the dalits—are not really free, and the nation’s elite can persecute them with impunity.
Running is the fairest sport. Almost half of the refugee team at this year’s Olympic Games in Rio took up the sport because a pair of donated shoes and a great deal of dedication can bring success at almost no cost.
Generosity goes hand in hand with happiness. The part of the brain that controls altruism is smaller in people with depression.
Evaluating lead levels is for the birds. High levels of lead evident in pigeons’ blood makes testing them a good proxy for children in certain neighborhoods.
There are still companies that will pay you for life. Some US firms still offer defined-benefit pension plans—just make sure you stick around for five years.
The pope planned a beach getaway—for Rome’s homeless.Participants were provided with swimsuits and beach towels andtreated to pizza by the Vatican.
Conservationists are using chili powder-filled condoms to save elephants. The condoms are being thrown at elephants in Tanzania to keep them from wandering into human settlements.
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