Quartz Daily Brief—Twitter results, Cold War redux, China probes Microsoft, dating profiles useless
Good morning, Quartz readers!
What to watch for today
Argentina procrastinates. The country’s negotiators will meet again with a US court-appointed mediator instead of sitting down with “holdout” investors directly. A day before the deadline to avoid a default, Argentina is seeking a delay of the US court ruling obliging the country to pay up.
Did the World Cup give Twitter a kick? The social network expects to report a surge in quarterly ad sales, but investors will care most about a growing user base. Twitter may have benefitted from the largest sporting event in the world.
A big day of data for the US. Although a preliminary survey showed that consumer sentiment dipped in early July, consumer confidence is likely to hit a six-year high as strong jobs reports boosted households. The S&P Case/Shiller Home Price Index for May is expected to show a smaller rise in home prices.
Pfizer offers clues on another AstraZeneca deal. The pharmaceutical company’s second-quarter earnings are likely to be flat, but investors will be paying close attention to cancer drug developments and details on another possible attempt at buying British rival AstraZeneca.
While you were sleeping
European banking giants beat expectations. Both Deutsche Bank and UBS reported second-quarter profit that surpassed analyst estimates, with the German lender revealing surprisingly strong debt-trading results, while the Swiss bank benefitted from aggressive cost-cutting.
The US-Russia stand-off got much chillier. The Obama administration alleged that Russian cruise missile tests violated a crucial nuclear treaty that helped end the Cold War. Separately, Germany, Britain, France, Italy, and the US held talks on new restrictions on Russia’s energy, finance, and defense sectors, which could be announced in the coming days.
A mixed bag for Japan’s economy. The jobless rate rose unexpectedly to 3.7% in June, from 3.5% in May, household spending fell by a less-than-expected 3%, and retail sales fell by 0.6%. All of which suggest that Abenomics isn’t working out so well for the man who invented it.
BP’s growth was overshadowed by Russia risk. Second-quarter profit rose 36% year-on-year to $3.6 billion, but the oil and gas giant warned that its near-20% stake in Russian state oil company Rosneft leaves it vulnerable to further Russian sanctions.
A US court dealt a blow to Kurdish oil sales. A judge ordered the US Marshals Service to seize 1 million barrels of Iraqi Kurdish oil from a tanker located off the coast of Texas, part of a long-running legal battle between Kurdish leaders and the central Iraqi government in Baghdad.
China probed Microsoft. Officials arrived unannounced at four of its offices across China to launch an anti-trust investigation. Regulatory pressure could mean lower prices for Chinese consumers, and a shot in the arm for China’s nascent software developers.
Israel intensified its strikes on Gaza. Israeli prime minister Benjamin Netanyahu warned of a “long operation” and said the full demilitarization of Gaza would be required for any truce. Israeli tank shells hit Gaza’s only power station, forcing it to close.
Quartz obsession interlude
John McDuling on how Major League Baseball makes the best argument for net neutrality. MLB’S Advanced Media unit ”employs about 700 people and is on track to generate $800 million in revenue this year. It runs professional baseball’s digital properties, including the websites and social media properties of MLB’s 30 franchises. But it’s best known for its online streaming prowess. It runs the league’s own streaming platform, mlb.tv, and is now even selling services to clients like ESPN and the professional wrestling organization WWE.” Read more here.
Matters of debate
Israel is fighting two wars: one against Hamas, and the other against citizens who dare to question the government.
Europe should be ruled according to beer production. Though southern member states might prefer that wine be factored in.
Parenthood is unethical. The only way to spare your children pain is not to have them in the first place.
We should take more time to nap. The three-day work week that Mexican mogul Carlos Slim advocates is worth a shot.
Surprising discoveries
Vegetables are more dangerous than meat. Leafy ones in particular are the most common carriers of illness.
There may be dinosaur fossils on the moon. Astroids could have carried them there, along with signs of life from other planets.
New York’s smallest private property is 500 square inches. It’s dedicated to not being a public space.
The US is crowdsourcing its airport security by offering $5,000 for the best idea to speed up its screening lines.
Don’t bother writing a better dating profile. OKCupid’s user experiments prove that people just look at the pictures.
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