Good morning, Quartz readers!
WHAT TO WATCH FOR TODAY
The Bank of England starts buying corporate debt. It’s part of its plan to support economic growth following the nation’s decision to leave the EU. Over the next 18 months it will buy 10 billion pounds (about $13 billion) worth of sterling corporate bonds from companies making significant contributions to the British economy. Investors will watch the markets for reactions.
Najib Razak escapes the heat in Malaysia and visits Angela Merkel. The embattled Malaysian prime minister will meet with the German chancellor in Berlin to discuss trade and investment. Hisitinerary also includes face time with executives from BMW, Daimler, and Infineon, among other companies.
Nike posts a rare earnings drop. The shoe maker is expected to report a 16% year-over-year decline in first-quarter profit as sales disappoint and competitors turn up the heat. It would mark Nike’s first earnings decline in four years.
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Japan will invest $30B across 20 African states. The Tokyo International Conference on African Development (TICAD6) brought public and private leaders together in Nairobi to discuss partnership opportunities between Africa and Asia. Investment from 22 Japanese entities will prioritize health care systems, infrastructure development, and human resource development.
WHILE YOU WERE SLEEPING
Hillary Clinton won the first US presidential debate. A CNN/ORC poll of debate watchers found that 62% felt Clinton won, versus 27% who thought Trump did. One of Clinton’s best lines: “I think Donald just criticized me for preparing for this debate. And yes, I did.” Trumpbragged about not paying any federal income tax, saying it would be “squandered.”
Colombia’s president signed a peace deal with Marxist rebels.Juan Manuel Santos and rebel leader Timochenko used a pen made from a bullet to sign an agreement ending a 52-year war. The deal also allows the FARC guerrillas to become a political party, making their case through voting instead of violence.
Disney joined the list of potential suitors for Twitter. Other companies reportedly interested in a takeover include Salesforce, Alphabet, and a joint venture between former Microsoft CEO Steve Ballmer and Saudi prince Alwaleed bin Talal. Twitter’s share price has shot up in the wake of the acquisition rumors.
China’s industrial profits jumped the most in three years. Theyrose 19.5% from a year ago to 534.8 billion yuan ($80.2 billion), according to the National Bureau of Statistics. The data suggests further stabilization in manufacturing and a greater ability of companies to pay off debts.
QUARTZ OBSESSION INTERLUDE
Tim Fernholz on whether SpaceX is a victim of its founder’s ambitions. “In a few days, SpaceX CEO Elon Musk will unveil his plans to explore Mars at a global space conference in Mexico. The event has been widely anticipated by fans of the billionaire entrepreneur and SpaceX. But an enormous fire that consumed a SpaceX Falcon 9 rocket during a pre-flight test on Sept. 1 has dampened the positive mood. Now, critics are asking if SpaceX is taking on too much, too fast.” Read more here.
MATTERS OF DEBATE
Modern activists shouldn’t be in awe of Nelson Mandela.Losing faith in yesteryear’s heroes is a positive sign of dismissing false “civil religions” and embracing honesty.
Donald Trump made a great case against electing a businessman as president. In the debate he boasted of his focus on personal enrichment, but that’s not the best place from which to lead a democracy.
Major fashion brands are toying with their customers’ psyches. Their approach to sizing can set women on an unhealthy path to weight loss.
Venetians are dressing up as pirates to chase away cruise ships. The sinking city, where tourists outnumber locals, couldbecome endangered if big boats keep passing through.
Hollywood actors can now have their ages erased from IMDb.California passed a law that’s meant to fight ageism in the film industry.
A devil frog puked up a new ant species. The neon-orange, poisonous frogs get their toxic secretions from the ants, which feed on alkaloids from plants.
Roller coasters can defend against kidney stones. A rocky ride can dislodge the small mineral deposits before they become a bigger problem.
Apple spends an estimated $225 on the parts for each iPhone 7. And it charges customers three times that amount to buy one.
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