Quartz Daily Brief—Hong Kong’s falling stocks, ISIL’s ancient conquest, SpaceX returns, London duck lanes
Good morning, Quartz readers!
What to watch for today
The Eastern Partnership Summit convenes in Riga. European Union leaders will meet in the Latvian capital with their counterparts from Armenia, Azerbaijan, Belarus, Georgia, the Republic of Moldova, and Ukraine to discuss energy and regional security. Moscow is not invited but will loom heavily over the initiative, designed to bring the region into Europe’s orbit.
Greece’s prime minister tries to pressure the EU. Alexis Tsipras is expected to hold talks with his European counterparts on the sidelines of the Riga summit, pressing them on his country’s debt. Greece has said it will not be able to make a loan payment due on June 6.
The SpaceX Dragon capsule returns to Earth. The spacecraft delivered two tons (1.8 tonnes) of supplies to the International Space Station and will bring back some research samples when it splashes down in the Pacific Ocean.
Hewlett-Packard announces its earnings. The computer company’s profit is expected to slip, as it struggles to compete with mobile and the cloud. CEO Meg Whitman plans to split Hewlett-Packard into two companies—one that sells corporate technologies such as servers, and the other for printers and personal computers.
Who else will open their books? Best Buy, Gap, Aeropostale, Dollar Tree, and National Grid.
While you were sleeping
Lenovo narrowly missed expectations. The world’s biggest PC maker by sales reported a full-year net profit of $829 million, a 1% increase over a year earlier and short of an expected $857 million. Revenue for the period rose 20%.
David Letterman hosted his final “Late Show.” Comedians Chris Rock, Jerry Seinfeld, and Steve Martin packed the talk show set to bid fairwell to the host (link includes video) after 33 years in late-night TV. Letterman, who has recorded 6,000 broadcasts, has remained quiet about his plans for the future.
More Hong Kong stocks crashed. Mainland China-headquartered Goldin Financial and Goldin Properties both closed down 40%. There are plenty of similarities to mainland-headquartered Hanergy’s dramatic fall yesterday, and the financial company was a Hanergy adviser.
Eurozone commercial activity slowed. Markit’s preliminary purchasing managers’ index for manufacturing rose to 52.3 in May from 52 in April, while the service sector fell to 53.3 from 54.1 earlier. That’s still above the 50 mark that separates expansion from contraction.
Japan’s manufacturing rebounded. The Markit/JMMA preliminary purchasing managers’ index was 50.9 in May, indicating an expansion in activity for the first time in two months. New domestic and export orders both rose above the 50 threshold as well, which is good news after low business investment held back Japan’s first-quarter GDP.
ISIL took over the ancient Syrian city of Palmyra. The militant group claimed near-complete control of the strategic city after government troops withdrew. There are concerns about the city’s Semitic ruins, which are a UNESCO World Heritage Site.
Quartz obsession interlude
Jake Flanagin on the detrimental effects of Europe’s ban on seal hunting. “Exports of seal pelts have dropped 90% in the years since the ban was implemented. The impact on Greenland’s coastal economy has been disastrous. Though the ban included an exemption for indigenous peoples in order to protect distinctive cultures and traditions, “the market seems to be negatively affected by the EU initiative,” a 2012 report compiled by the European Bureau for Conservation and Development (EBCD) states.” Read more here.
Matters of debate
Republican candidates have no right answer on Iraq. Voters know it was a mistake, but hawkish backers still believe it was the right thing to do.
The singularity is not that near. Computers are getting smarter, but that’s very different from being conscious.
At least 62 laborers will die for each game played during the 2022 World Cup in Qatar. Where will FIFA draw the line?
Russia’s outlaw bikers are tools of the state. The Night Wolves are emblems of Vladimir Putin’s macho brand of politics.
The American cable industry is about to get a taste of some progressive French business models. And that’s a good thing.
Surprising discoveries
Google launched a satellite just for DJ Skrillex. It was named after the dubstep star’s dog.
A US man shot a rare black rhino in Namibia. He paid $350,000 for the pleasure, which he says will help the species survive.
There’s life in the driest place on Earth. The discovery has implications that are truly out of this world.
A man cross-stitched his own bank card. He was frustrated with waiting for a replacement from the bank.
London’s canal paths have special duck lanes. It’s a lesson in courtesy for humans and animals alike.
Our best wishes for a productive day. Please send any news, comments, animal crossings, and dubstep satellites to [email protected]. You can follow us on Twitter here for updates throughout the day.