🌎 Raid on Mar-a-Lago
Good morning, Quartz readers!
Here’s what you need to know
The FBI searched Donald Trump’s Mar-a-Lago residence. The unprecedented action is part of an investigation into alleged mishandling of White House documents.
Meme stocks are rising again. Shares of Bed Bath and Beyond, AMC, and GameStop are rallying despite the companies’ less-than-rosy future prospects.
The US Treasury blacklisted a cryptocurrency exchange. Tornado Cash is suspected of facilitating money laundering from entities such as North Korean hackers.
Pfizer agreed to buy Global Blood Therapeutics. The American pharmaceutical giant offered $5.4 billion for the sickle cell disease drugmaker.
US regulators withdrew PredictIt’s license to operate. The popular platform allowed users to bet on their political forecasts, but to the Feds this might have looked like illegal gambling.
A fire at a Cuban oil storage facility spread to a third tank. A blaze started by a lightning strike injured dozens, killed at least one person, and further strained the island’s energy supplies.
Chile promised repercussions over a massive sinkhole. As the sinkhole expands, the government plans sanctions against those responsible.
What to watch for
Kenyans vote today to pick president Uhuru Kenyatta’s successor. Leading the polls is former prime minister and opposition leader Raila Odinga, followed by deputy president William Ruto, immigration lawyer George Wajackoyah—a wildcard candidate who called for the legalization of cannabis—and lawyer and ordained minister David Waihiga Mwaure.
Voters want solutions to the rising cost of living and corruption issues. The lead up to the vote has already seen a boost in alcohol sales and a shortage of small denomination notes—both potential signs of voter bribery.
The biggest climate bill in US history
The Inflation Reduction Act, approved by the US Senate on Aug. 7, is considered the country’s largest and most significant bill to address climate change to date. Here’s what it entails:
🔌 Consumers will get rebates on electric vehicles, energy-efficient household appliances, and solar panels.
☀️ Federal loans will support manufacturers of solar panels and large batteries.
🌱 Farmers who adopt practices that remove carbon from the atmosphere will get financial support.
🛢️ But the fossil fuel industry also won concessions, including $20 billion in subsidies and new land for offshore drilling.
🖋️ The House is expected to vote on the bill by the end of the week. If it passes, it’d head to president Joe Biden’s desk.
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🤔 The Feds shut down the internet’s most popular prediction market
😡 Climate activists are enraged that African leaders want to invest in fossil fuels
Surprising discoveries
All you need is a 120 second walk after a meal to feel better. We prefer cat naps, but we guess lowered blood sugar is a pretty good perk.
A hummingbird species not seen in 12 years was spotted in Colombia. It was the third ever recorded sighting of the Santa Marta sabrewing.
A World War II bomb was found in an Italian riverbed. The recent heat wave dried up the water, revealing a 450 kg (~1,000 pound) explosive.
Zoos are giving animals “icy enrichment” to beat the heat. Summer treats include pumpkin spice flavored ice blocks.
Florida is holding a snake removal competition. Eight hundred contestants are hunting down invasive Burmese pythons to claim cash prizes.
Our best wishes for a productive day. Send any news, comments, rare hummingbirds, and icy enrichment to [email protected]. Reader support makes Quartz available to all—become a member. Today’s Daily Brief was brought to you by Sofia Lotto Persio, Julia Malleck, and Morgan Haefner.