Russian-meddling hearings, Sessions suggested resigning, Trumpspeak troubles translators
Good morning, Quartz readers!
What to watch for today
US Senate intelligence hearings kick off. Top brass from the FBI, NSA, and Justice Department will testify in both public and closed-door hearings today about the probe into Russia’s involvement in the US election. This will set the scene for the biggie tomorrow: testimony from fired FBI director James Comey.
Can artificial intelligence help the world’s poor? UN representatives, AI experts, policymakers, and industrialists will discuss whether artificial intelligence can help with sustainable development at the AI for Good Global Summit in Geneva.
The EU unveils its multi-million-euro defense fund. Earmarking a budget for military equipment and joint-defense initiatives is a first for the bloc—and an idea that was often blocked by the departing UK. Donald Trump’s skepticism about the US’s role in collective defense has also unsettled EU leaders.
The Federal Reserve releases consumer-credit figures. For April, the increase is expected to be around $15.5 billion (pdf)—less than the $16.4 billion rise in March.
While you were sleeping
Gunmen attacked the Iranian parliament. Reports say up to seven people have been killed after a suicide bomber and several gunmen opened fire at the parliament and at the mausoleum of Ayatollah Khomeini, the founder of the Islamic Republic of Iran. There are reports of an ongoing hostage situation inside the parliament. ISIL has claimed responsibility.
Santander bought Banco Popular for €1. The Spanish bank rescued its smaller rival from almost-certain collapse—the ECB described it as “failing or likely to fail.” Santander now needs to raise about €7 billion in capital to pour into the troubled Banco Popular—Santander shareholders didn’t much like the news: shares fell by almost 3% (paywall) in early Wednesday trading.
Jeff Sessions suggested resigning. ABC News reported that friction between the attorney general and Donald Trump over Sessions’s sudden decision to recuse himself from the Russia investigation became so bad that Sessions offered to resign at one point recently. Both a Justice Department spokesperson and White House spokesman Sean Spicer wouldn’t comment.
Trump suggested solar panels could help pay for a US-Mexico border wall. The US president floated the idea while meeting with legislative leaders, according to Politico. Many lawmakers from his own party have balked at the idea of using taxpayer dollars to fund construction of the wall, which is expected to cost billions.
Nearly 10 million Chinese students picked up their pencils. The gaokao, China’s annual two-day national college entrance exam, began today. Seen as a ticket to a well-paying job, the highly competitive test demands months of rigorous preparation—and creative means of cheating and catching cheats.
Quartz obsession interlude
Oliver Staley on how J.Crew’s iconic boss couldn’t adapt to the internet. “CEO Mickey Drexler was an Apple board member who helped Steve Jobs create the first Apple stores. Yet despite his front-row seat to the marriage of technology and retail, he admitted he was unprepared for the changes wrought by online shopping.” Read more here.
Matters of debate
The Gulf state feud is all about natural gas. Qatar’s massive reserves allowed it to challenge Saudi Arabia for regional dominance.
Canada doesn’t need the United States. Foreign minister Chrystia Freeland says it’s time to step out of its neighbor’s shadow.
The days of $1 billion box-office hits are almost over. Changing viewer trends will make blockbuster films a rarity.
Surprising discoveries
A Siberian gardener found a massive pair of mammoth tusks. They date back about 400,000 years.
There was no $110 billion US-Saudi arms deal. The highly touted sale is mostly letters of interest and pre-existing contracts.
Mark Zuckerberg’s dream for education is for kids to teach themselves. He wants “a billion students” to be able to learn via software that his company helps build.
Scientists found the hottest planet ever. KELT-9 has temperatures so high (7,820°F, 4,326℃) that it’s rapidly evaporating.
Japanese interpreters are struggling with Donald Trump. They’re complaining about his garbled syntax and colloquial style.
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