Quartz Daily Brief—Americas Edition—RBS ousts its CEO, Lululemon insider share sale, bushels for Buffett
What to watch for today
Hillary speaks. The former Secretary of State and potential presidential candidate will make the keynote speech at the Clinton Global Initiative’s meeting in Chicago. Analysts will be watching keenly for indications of her future public role.
A data-heavy day. Market-moving economic US info will include retail sales, initial jobless claims, and business inventories.
Talking Turkey. The European parliament will vote on a non-binding resolution to call on Turkey to build a “truly democratic, free and pluralist society.” Meanwhile, Prime Minister Recep Tayyip Erdoğan ordered an end to the protests in 24 hours, which hundreds of protesters ignored.
Greeks back on the streets. A 24-hour general strike began on Wednesday night in opposition to the closure of Greece’s state broadcaster and the subsequent loss of 2,700 jobs.
While you were asleep
Stock market rout. Japan’s Nikkei fell into bear territory, down 6.4%. Chinese stocks fell to a five-month low. Thai, Indonesian and Philippine markets also declined, and European stocks are falling too.
Royal Bank of Scotland dumped its CEO. Stephen Hester turned the bank around but his big bonuses won him no friends. The surprise ouster pushed the bank’s shares down about 7%, and it also announced 2,000 layoffs in its investment banking unit.
Sobey’s bought Safeway Canada for $5.7 billion.The acquisition will allow the second-largest Canadian retail chain to double the number of shops in the west of the country.
Lululemon’s chairman dumped $50 million worth of stock before the firm’s CEO unexpectedly quit. Shares dropped 15% the next market day.
A small victory for Dish. Wireless service provider Clearwire urged its shareholders to accept Dish Network’s bid for the company over Sprint Nextel’s rival offer to acquire the 51% of Clearwire it doesn’t already own.
Quartz obsession interlude
Lily Kuo on whether building more cities is the answer to China’s economic problems. “Chinese officials are calling for a kind of populist urbanization… According to premier Li Keqiang, city dwellers spend more than rural residents on services like schools, healthcare, leisure and financial advice—all things that would boost the country’s services sector and decrease its export dependence.” Read more here.
Matters of debate
Retirement will kill you. Work may be a chore, but you’ll live longer.
End compulsory paternity. There’s a feminist argument for getting rid of “forced fatherhood.”
What’s the biggest threat to the global economy? You’ll never guess: Space weather.
Internet companies should take a stand on surveillance. And not be like the telcos.
What’s Amazon going to do about 3D printing? It’s going to grab it with both hands.
Surprising discoveries
Your personal information is worth less than a dollar. Skeptical? Try the FT’s interactive calculator.
How to get a job with Warren Buffett. Tracy Britt, the 28-year-old chair of four of his companies, brought him a bushel of corn and some tomatoes when they first met.
Psyche, Popeye, Cookie, and Twelve. Why Chinese choose weird English names for themselves.
Fancy a trip to Mars? Why not go to Beijing instead? Sunsets look about the same.
India’s best shot at population control. A study finds women who watch cable TV have fewer kids.
A sea change for the US Navy. It’s going to STOP USING ALL-CAPS IN ITS COMMUNICATIONS.
Our best wishes for a productive day. Please send any news, comments, Warren Buffett gift bushels and REQUIEMS FOR ALL-CAPS to hi@qz.com. You can follow us on Twitter here for updates during the day.
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