Quartz Daily Brief—Malaysia Airlines whodunit, Israel invades Gaza, Fedex drug charges, diversified superheros
Good morning, Quartz readers!
What to watch for today
Who shot down Malaysia Airlines flight 17? The jumbo jet was hit with a surface-to-air missile that originated in eastern Ukraine, according to US satellite data. Early suspicions landed on pro-Russian militants, as Kiev released what it said were intercepted phone calls between rebel commanders confirming the attack. The rebels denied any role in bringing down the flight, which had 298 people aboard.
Typhoon Rammasun hits China. The storm that caused at least 38 deaths in the Philippines is due to hit the island province of Hainan, in what is expected to be the popular tourist destination’s biggest typhoon in more than 40 years.
Berlusconi faces the fire. An appeals court is due to rule on the former Italian prime minister’s convictions for abusing power and engaging a 17-year-old in prostitution. If the convictions are upheld, he faces a seven-year prison term.
A revamped GE faces the future. The industrial conglomerate’s second-quarter earnings come in the wake of the biggest acquisition in its history, to buy Alstom’s power assets for $16.9 billion. And the pending IPO of its consumer finance arm, Synchrony Financial, could be the US’s biggest public offering this year.
Americans are in a glass-half-full kind of mood. The US July consumer sentiment survey is expected to show that consumers feel more confident about the economy than they did in June.
While you were sleeping
Israel forces entered Gaza. Tanks and troops rolled through the north of the Gaza strip, in a ground operation that Israel said was focused on closing down tunnels used to infiltrate Israeli territory. Hamas vowed that Israel “would pay a heavy price.”
Google posted big numbers. Second-quarter profits climbed 6% to $3.42 billion, and sales up were up 25% to $12.7 billion after traffic-acquisition costs. But the company’s average “cost per click” fell 6% as it struggled to adjust to the shift toward mobile devices.
Buyout speculation swirled in the TV industry. US broadcaster CBS said it would consider buying Time Warner’s CNN—but only if it were put up for sale as part of a tie-up between Time Warner and 21st Century Fox. Some analysts are also speculating over Google might vie to buy Time Warner, in part to populate YouTube with higher-quality videos.
China’s GDP expectations were managed downwards… Premier Li Keqiang said the government will not be concerned if growth doesn’t quite hit the government’s 7.5% target this year.
…As its housing market cooled off. Prices in China’s top 70 cities rose by 4.2% in June from a year ago, compared to a 5.6% increase in May.
FedEx was indicted for conspiracy. US prosecutors say it earned $820 million from shipping controlled substances from illegal online pharmacies, despite repeated warnings. FedEx countered that it cannot be held responsible for the legality of the products it ships.
Quartz obsession interlude
Dan Frommer on Microsoft preparing for its new role as the underdog. “In reality, Microsoft is now an underdog, and new CEO Satya Nadella seems to get that. Sure, Windows still runs more than 90% of desktop and laptop PCs sold worldwide. But the near-term future of the computer industry isn’t just PCs—it’s also mobile devices, including phones and tablets. With that broader definition of a computer, Microsoft Windows powered just 14% of computers shipped last year, according to Gartner. In a software era defined by cross-device continuity and network effects, Microsoft doesn’t have nearly enough.” Read more here.
Matters of debate
Technology is kickstarting a new sexual revolution. But the end result may be that we won’t want to have sex at all.
Go ahead, reuse weak passwords across multiple accounts. The security wonks who say you shouldn’t are wrong.
Harry Potter played a part in Obama’s 2008 victory. Millennials who read the fantasy series were brainwashed by its Democratic values.
Surprising discoveries
The original Rickroll video disappeared. Rick Astley’s “Never Gonna Give You Up” was likely removed from YouTube for copyright violations.
Mount Fuji is getting angry. The Japanese earthquake that caused the Fukushima disaster raised pressure below the dormant volcano.
The use of f-bombs spiked during the recession. They were tolerated in the workplace during hard times.
Marvel is diversifying its superheroes. The comic book giant announced a black Captain America and a female Thor.
Stop the “this weekend” vs. “next weekend” madness. The second weekend from now should be called “oxt weekend.”
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