Quartz Daily Brief—European interest rates, Russia’s threat, Iraq’s genocides, monkey selfies
Good morning, Quartz readers!
What to watch for today
Nothing new in European interest rates. Despite the threat of deflation and signs that the Ukraine crisis is hurting growth, Mario Draghi and Co. at the European Central Bank aren’t likely to take any measures (paywall) to boost recovery. And the Bank of England probably won’t raise rates from a record low 0.5% until early 2015.
Colombia’s president gets sworn in. Juan Manuel Santos begins his second four-year term—which he won on the strength of his negotiations to reach a peace accord (paywall) with the leftist rebels after 50 years of conflict—two days after explosions around the capital that police blamed on one rebel group.
Thailand’s first step back towards civilian government. A new legislature, dominated by army and police officers, meets. Its first job will be to pick a new government and prime minister—most likely the army officer who led the coup in May.
The Bank of Japan gets really, really interested in exports. The bank’s two-day policy meeting starts, and a key question for Abenomics-watchers will be whether it thinks exports are recovering. If it says they’re not, that will cast doubt on the efficacy of Japan’s aggressive rounds of quantitative easing and economic stimulus.
A final sporting event for the season. The PGA championship kicks off at the Valhalla Golf Club in Louisville, Kentucky, and features the top 100-ranked players in the world and 29 former major winners, marking the final major sporting event to watch this summer.
While you were sleeping
The Gaza ceasefire held. Egyptian mediators continued shuttling between Israeli and Palestinian negotiators in a Cairo hotel (while a wedding went on next to them). Israel said it was ready to extend the 72-hour ceasefire beyond the Friday morning deadline, but so far there’s no sign of a longer-lasting truce.
Russia sparked fears it might invade Ukraine. After banning all fruit and vegetable imports from Europe and all food imports from the US in retaliation for Western sanctions, Russia massed around 20,000 combat-ready troops on Ukraine’s border, leading NATO to warn of a possible ground assault.
Ebola picked up its pace again. A Nigerian nurse became the country’s second fatality and five other cases were confirmed in Lagos, as the total death toll jumped to 932. A Saudi man who had been to Sierra Leone died in Jeddah with suspected Ebola, though a patient in New York has tested negative. The World Health Organization said it would consider exploring experimental treatments (paywall).
Bank of America inched closer to a settlement. The bank and the US Justice Department are close to a $16-$17 billion settlement (paywall) over mortgage-related misconduct, including $7.5 billion to help struggling homeowners. That would set a record for fines and damages in a civil settlement between the US and a company.
Sprint walked away from T-Mobile and got a new CEO. The US’s third-largest mobile carrier dropped its bid to acquire T-Mobile, the fourth-largest, hindering its plan for growth. But its newly appointed CEO, Marcelo Claure, could bring some excitement to the brand.
Quartz obsession interlude
Bobby Ghosh on the tragedy the world has been ignoring in Iraq. “The poignant lament of an Iraqi named Karim… captures the helpless frustration of many minorities facing existential danger in areas controlled by ISIL, the terrorist group, while much of the world has been transfixed by the war between Israel and Hamas. While both Israelis and Palestinians have carelessly bandied about the word ‘genocide,’ it is a real threat for the communities in ISIL’s crosshairs.” Read more here.
Matters of debate
Lego could get more girls to go into science. Its new female scientist figurines will help shape both boys’ and girls’ atttitudes.
Snowden’s copycat should come as no surprise. The fact that there’s another person leaking NSA secrets is a sign the US needs to clean up its act.
There should be more Hispanic actors in Hollywood movies. It would make economic sense for the studios to appeal more to an under-represented and growing group.
Samsung should give up selling phones. It should just sell parts to other phone-makers instead.
Thailand’s coup will lead to economic stagnation. Abandoning democracy will not improve the lives of ordinary Thais.
Surprising discoveries
America Online still has 2.3 million dialup internet subscribers. And they’re very profitable.
Can a monkey own copyright? A legal battle has broken out over who owns the rights to a macaque’s selfie.
The number of texts sent in the UK is set to double this year. Mostly because of young people flirting.
A former Apple store employee is auctioning his gear on Ebay. His name is Sam Sung.
Shenzhen has a new punishment for careless drivers. If you drive with your headlights on high-beam, you will have to stare into bright headlights for five minutes.
California residents are painting their lawn green. It’s the perfect solution to three years of the worst drought on record.
Our best wishes for a productive day. Please send any news, comments, flirty texts, and old Apple gear to [email protected]. You can follow us on Twitter here for updates throughout the day.