"Trump’s hostility to globalization is ruining the United States’ attractiveness as a place to do business."

"Trump’s hostility to globalization is ruining the United States’ attractiveness as a place to do business."

Marc Ross Daily
July 24, 2018
Curation and commentary from Marc A. Ross

Reporting from Alexandria, Virginia

Marc Ross Daily  = Business News at the Intersection of Global Politics + Policy + Profits

Subscribe here: https://goo.gl/bSQKwA

TOP FIVE

✔️ Singapore may use drones to deliver medicine

✔️ China unveils measures to boost economic growth

✔️ Mexico is redoubling efforts to reach NAFTA agreement by end of August

✔️ Tariffs are the greatest!

✔️ Tesla is asking suppliers for refunds

GEOECONOMICS

AFP: Singapore may use drones to deliver medicine, for security

Australia becomes exhibit A for countering China's influence: Nikkei reports, as Canberra weighs blocking Huawei's 5G bid, other governments watch and learn. https://s.nikkei.com/2Ly512M

The Times: Washington goads China with promise of military help for Taiwan

China unveils measures to boost economic growth: FT reports, China has announced a mix of tax cuts and infrastructure spending citing “uncertainty”, as it ramps up efforts to stimulate demand and counteract a weakening economy. The move, announced late Monday, came the same day as an injection of $74bn into the banking system by the People’s Bank of China through its Medium-term Lending Facility — the central bank’s largest ever, single-day cash injection using that tool.

Bloomberg: China unveils new measures to aid growth amid trade uncertainty

SCMP: China’s yuan falls to 13-month low after cabinet’s growth support remarks

AP: China insists US airlines describe Taiwan as part of China

Adam Posen: How Trump is repelling foreign investmenthttps://fam.ag/2uKzuRz

"Trump’s hostility to globalization is ruining the United States’ attractiveness as a place to do business."

Hot: Japan set a dubious record on Monday, recording the country’s highest ever temperature — 41.1 degrees Celsius, or 106 degrees Fahrenheit

Russian hackers reach US utility control rooms, homeland security officials say: WSJ reports, blackouts could have been caused after the networks of trusted vendors were easily penetrated.

The Economist: Amid tensions with America, China is turning to Europe

May’s Message to the North: Bloomberg reports, May traveled to Britain’s pro-Brexit industrial heartland to sell her plan to keep close ties to the EU, telling workers that carmakers based in the region depend on trade with the bloc that she’s trying to protect.

“My real concern is that it will change British public attitudes to Europe for a generation — and it will lead to a fissure to relations which would be highly damaging for that great partnership that we’ve had for so many years.” -- UK Foreign Secretary Jeremy Hunt  

NAFTA: Mexico is redoubling its efforts to reach an agreement with the US and Canada by the end of August.

Reuters: Israel shoots down Syrian warplane as Golan frontier heats up

AMERICAN POLITICS

Delay: Paul Manafort is now set to face a jury next week in the first trial from special counsel Robert Mueller’s investigation.

Today: Trump addresses the Veterans of Foreign Wars of the US national convention in Kansas City

WV-SEN: Don Blankenship has signatures to rejoin race for US Senate

AP: Georgia GOP governor’s runoff tests loyalty to Trump

"Georgia Republicans decide a bruising gubernatorial runoff Tuesday that is testing the loyalty of conservative voters to President Donald Trump and their frequent rejection of the establishment in favor of outside, bare-knuckled politics."

VA: The Senate has confirmed Pentagon official Robert Wilkie to be secretary of Veterans Affairs.

Trade war winners and losers grapple with Trump tariff chaos: FT reports, as application for requests on tens of thousands of products have flooded in, many companies said they were finding the bureaucracy frustrating and the decisions bewildering. Winners and losers are being chosen seemingly arbitrarily by the government, they complain, distorting markets and disrupting supply chains. Meanwhile, a backlog of decisions continues to grow.

Business council to Trump: Not too late to change your mind: Politico - Morning Trade reports, Erin Ennis, vice president of the US-China Business Council, appealed to the Trump administration to back off its tariff action, which she said was unlikely to persuade China to change its behavior but could do “significant damage to US economic interests, both in preventing necessary imports as well as through retaliatory tariffs.

@realDonaldTrump: Tariffs are the greatest!

It’s getting harder for companies to escape Trump's China duties: Bloomberg reports, more than 80 witnesses are scheduled to testify during the two-day hearing starting Tuesday on the $16 billion in Chinese goods targeted for 25 percent duties, which could be imposed after a comment period ends July 31. The administration imposed tariffs on $34 billion of products on July 6, after similar hearings in May.

NYT: Tariffs trim a factory’s profit, but loyalty to Trump endures

Chicago Sun-Times Editorial: Trump’s trade war with China is beating Illinois silly

Products made in America will make America great again, Trump claims: WP reports, Trump touted the economy Monday at a White House event showcasing American-made merchandise, even as some members of the manufacturing industry worried that the president's trade policies threaten recent progress. At the second annual "Made in America" event, the president strolled among snowboards from Colorado, cowboy boots made in Texas and campers from Indiana — all required to be “ ‘all or virtually all’ made in the U.S.” Trump toured an RV camper manufactured by Indiana-based Newmar Corp. and looked at Ford's Model T to the F-150, which he said were beautiful.

Politico: Trump: US ready to ‘do something’ about EU auto imports

The Hill: Paul Ryan would be 'perfect fit' to lead AEI, Republicans say

Trump advisers quietly begin thinking about 'life after Sarah': Politico reports, the press secretary says she has no plans to step down, but a shortlist of potential replacements is starting to take shape.

Replacements at the top of the list: Heather Nauert, the current State Department spokeswoman and former Fox News host; Bill Hemmer, a Fox News reporter; Kimberly Guilfoyle, a former Fox News host who recently left the network to join a pro-Trump outside group; Treasury Department spokesman Tony Sayegh; and White House deputy press secretary Raj Shah.

Home prices: The median sale price for an existing home in June was $276,900, or 5.2% higher than last year.

CNBC: A Republican group is digging up dirt on business leaders who could take on Trump in 2020 White House race

"A super PAC dedicated to doing critical research against Democrats is gearing up for battle against potential 2020 candidates such as Dallas Mavericks owner Mark Cuban and former Starbucks executive chairman Howard Schultz, according to people familiar with the plan." 

ENTERPRISE

Apple’s China ties make it vulnerable if trade fight gets worse: WSJ reports, China has been integral to Apple’s remarkable success. But the iPhone is a Chinese export—one that could be subject to tariffs in an escalating trade dispute with the US.

Nikkei: Huawei aims to launch world's first folding smartphone

HTC is building a smartphone that it wants to pitch as a secure repository for cryptocurrencies such as Bitcoin.

Bitcoin surpasses $8,000 to hit a two-month high.

Tesla is asking suppliers for refunds.

Bloomberg: Norwegians quietly revolt against Tesla

"Slow repairs in Norway hint at troubles as the automaker grows"

Nike has announced raises for around 10% of its workforce.

New York Daily News staff was cut by 50 percent yesterday.

Google found even more marketing dollars from advertisers, propelling it to another strong quarter despite costly regulatory trouble in Europe.

Bloomberg: Whirlpool sinks with raw material costs climbing around the world

Meg Whitman has invested in and joined the board of Immortals, the competitive videogame organization that fields teams in games such as Rainbow Six Siege and Arena of Valor. 

TRENDS

Fortnite is 1 year old: 

125 million players
11 million mobile downloads
69% of players spend £ on the game
58.9% of purchases made were of skins (18% gliders, 13.5% harvesting tools, 9.5% emotes)
Avg £ players spend: $58.25

CULTURE

Abby Huntsman, a co-host of 'Fox & Friends Weekend', is in talks with ABC to join their daytime show 'The View.'

HBD: Jennifer Lopez, singer and actress, 49

HBD: Elisabeth Moss, actress, The Handmaid’s Tale (2017-18), 36

HBD: Gus Van Sant, film-maker, Good Will Hunting (1997), 66

SPORT

AP_Sports: Four-time champion Chris Froome was among riders whose eyes needed treatment for tear gas sprayed by police when a farmers' protest interrupted the 16th stage of the Tour de France on Tuesday.

Tim Tebow will have hand surgery, ending his hopes of playing in the majors this year.

All or Nothing Manchester City - watch the trailer here: http://bit.ly/2NH7K7q

"It's not a lie if you believe it."

"It's not a lie if you believe it." 

Marc Ross Daily
July 19, 2018
Curation and commentary from Marc A. Ross

Reporting from Alexandria, Virginia

Marc Ross Daily  = Business News at the Intersection of Global Politics + Policy + Profits

Subscribe here: https://goo.gl/bSQKwA

TOP FIVE

✔️ Europe and Asia move to bolster global systems

✔️ Johnson issues battle cry to block ‘botched’ Brexit

✔️ China makes US companies foreign-policy tools

✔️ Trump struggles to explain Putin posture

✔️ Human-driven cars to disappear says SoftBank's Son
 

GEOECONOMICS

NYT: Europe and Asia move to bolster global systems that Trump has attacked

“From trade to regulation to security, America’s traditional allies are accelerating their efforts to buttress a global system that President Trump has seemed prepared to tear down.”

EU readies new trade retaliation list before Trump visit: Reuters reports, the European Union's trade commissioner said on Thursday she hopes an EU mission to Washington will ease a transatlantic trade dispute but the bloc is preparing a list of U.S. imports to hit if the United States imposes tariffs on EU cars.

‘Not too late to save Brexit’, says Johnson in resignation speech: FT reports, former foreign secretary makes a thinly veiled attack on Eurosceptic colleagues loyal to the prime minister.

Johnson issues battle cry to block ‘botched’ Brexit: FT reports, former UK foreign secretary makes a thinly veiled pitch for Conservative party leadership.

May to woo grassroots Tories on Brexit tour: The Times, Theresa May will go on a tour of Britain this summer in an attempt to convince skeptical Tory members to back her plan for Brexit. The scale of unrest among grassroots Conservatives emerged yesterday as Boris Johnson used a resignation speech to galvanize the party’s membership against the prime minister’s Chequers plan. 

HBD: Nicola Sturgeon, first minister of Scotland and leader of the Scottish National Party, 48

Erdogan, flush with victory, seizes new powers in Turkey: NYT reports, in a flurry of decrees since his inauguration last week, President Recep Tayyip Erdogan of Turkey has made clear that he will wield unchecked authority in all walks of life.

AFP: Israel passes controversial 'nation-state' law

WSJ: China makes US companies foreign-policy tools

"The People’s Republic of China is targeting international airline companies, threatening to “take disciplinary actions” against them unless they start referring to Taiwan as part of China by the end of July. Directing this type of intimidation at private companies marks a new and dangerous trend in the Chinese government’s push to marginalize and isolate Taiwan."

Economist: In its trade war with America, China dials down the hype

"Xi Jinping is worried that anti-Trump rhetoric could be counter-productive. Keep calm and carry on. Accentuate the positive."

China has 487 electric-car makers, and local governments are clamoring for more: WSJ reports, in June, the National Development and Reform Commission and China Construction Bank announced a new $47 billion fund for EVs and other high-tech industries. Regional governments are making similar funding commitments. Direct government subsidies on electric-vehicle sales have totaled $15 billion over the last five years. The Ministry of Industry and Information Technology, which oversees the auto sector, declined to comment.

A government picking winners and losers of the economy never ends wells for companies and consumers. Enjoy the ride.

The Chinese Communist party entangles big tech: FT reports, even after four decades of market-based economic reforms, the party places a high priority on maintaining state control over the strategic uplands of the economy — from finance to energy and media. Given the party’s chequered history with the private sector, the global prominence of some of the big tech groups could become a source of considerable tension in the future, say observers.

Team Xi wants to control the new commanding heights of the economy. Enjoy the ride.

As Russians describe ‘verbal agreements’ at summit, US officials scramble for clarity: WP reports, officials at the most senior levels across the U.S. military have been attempting to determine what President Trump may have agreed to on national security issues in his one-on-one with Russian President Vladimir Putin in Helsinki.

Outrage erupts over Trump-Putin conversation about letting Russia interrogate ex-US diplomat: WP reports, White House press secretary Sarah Huckabee Sanders declined to rule out the Kremlin’s request to question former ambassador Michael McFaul and other Americans that Russia suspects of interfering in its affairs.



AMERICAN POLITICS

NYT: From the start, Trump has muddied a clear message: Putin interfered

"Trump’s shifting narratives this week underscore the degree to which he picks and chooses intelligence to suit his political purposes. Two weeks before his inauguration, he was shown highly classified intelligence showing that President Vladimir Putin of Russia had personally ordered efforts to disrupt the 2016 election. But since then, Mr. Trump has sought to spread the blame for the meddling."

Toronto Star: Trump has said 1,340,330 words as president. They’re getting more dishonest, a Star study shows http://bit.ly/2zSZgYB

US-MX: Trump said the US and Mexico are "getting closer" to a bilateral trade deal and he might prioritize that over a separate one with Canada.

The peso jumped on the news.

Trump’s foreign policy will not outlast his tenure: Janan Ganesh of the FT writes, American voters are with him on many subjects, but they are not anti-western. https://on.ft.com/2LrxnZe

White House struggles to contain outcry over summit: Reuters reports, Trump adopted his usual defiant posture two days after a summit with Vladimir Putin. The American leader also called his critics deranged.

Bloomberg: Trump struggles to explain Putin posture

US crude oil output hit 11 million barrels per day for the first time.

CNBC: Trump trade advisor Peter Navarro: 'Zero-sum game' between China and the rest of the world: "We have to defend ourselves," Navarro said, citing Chinese theft of U.S. intellectual property on technology. "They're attacking our crown jewels. They make no bones about it."

Trump threatens auto tariffs despite broad opposition: WSJ reports, Trump stood by his threats to levy sweeping tariffs on automobile imports as a way to extract concessions from trading partners, despite industry opposition and discontent in Congress with the plan.

Tariffs imperil BMW in South Carolina. People aren’t happy. NYT reports, the automaker became the No. 1 exporter of American-made cars, transforming Spartanburg, SC. But a global trade battle threatens the town’s livelihood.

‘We’re fighting against our own country’: Trump’s tariffs on Mexico are causing layoffs in the US: WP reports, trade restrictions aimed at preventing U.S. jobs from heading elsewhere have instead hampered one Missouri company’s effort to create jobs in the United States. Officials at Mid Continent say that without relief, the nail plant could be out of business by Labor Day — or that remaining production could move to Mexico or another country.

Today: The Commerce Department is to hold a hearing today on whether imported cars and car parts harm national security.

China dominates many US supply chains. In fact, China is the dominant supplier in the top import categories (telecom equipment, computers, toys, furniture, computer parts, footwear, electrical machinery), and in most cases dwarfs the second-largest supplier. -- Thomas Costerg - Pictet Wealth Management

Reuters: US housing starts hit nine-month low; permits drop

WP: Oprah could be the biggest threat to Trump in 2020, Bannon says

3,362,431 acres: More than 3 million acres, an area nearly the size of Connecticut, have burned in wildfires in the U.S. so far this year.

ENTERPRISE

Amazon said this year's Prime Day was its "biggest in history," with more than 100 million products purchased during the event.

Petco has created a new store format called PetCoach, which devotes the majority of its space to services including veterinary care, dog walking, training, and grooming.

Human-driven cars to disappear says SoftBank's Son: Nikkei reports, tech mogul slams Japanese government for its ride-sharing ban.

HBD: Howard Schultz, chairman emeritus, Starbucks, 65

Comcast drops Fox bid.

TRENDS

@SocialMedia411: Samsung rumored to be releasing a folding screen smartphone in early-2019

Why hiring the ‘best’ people produces the least creative results http://bit.ly/2zXFhYK

Entrepreneurship lessons from hip-hop http://bit.ly/2LuDQT5

* They just start
* Accept that we’re in a “noise arms race”
* High volume to cut throughnoise
* Tapping into platforms (yes, Kanye-as-a-Service)

Midwest rising: Midwestern success stories show that innovation ecosystems are taking root in the heartland. https://tcrn.ch/2zZes6S

@Forbes: 5 of the biggest startups in ag-tech today http://on.forbes.com/6014DqDEo

BBC: Google's Loon brings internet-by-balloon to Kenya

A timely reminder that using data to make decisions can go very wrong http://bit.ly/2zRcFAq

CULTURE

Today: Comic-Con International San Diego takes over the San Diego Convention Center.

LAT: The Brady Bunch house is for sale. Its broker expects an 'avalanche' — of lookers, at least

30 new badges: The Girl Scouts introduced 30 new badges, meant to help girls tackle “some of society’s most pressing needs,” according to the organization.

Where Denmark’s elite go to (modestly) summer: Homes in Skagen, about five hours from Copenhagen, often lack luxury amenities. Still, heiresses and CEOs attracted to its artsy history and sea views keep residences. https://on.wsj.com/2zRPQwv

Hipster heartbreak as curfew looms over London bars: The Times reports, clubs, bars and restaurants in one of London’s most vibrant boroughs will be forced to close at 11pm under controversial licensing laws voted in last night.

@Gizmodo: The Joker origin movie is now simply called 'Joker', and is out next year http://gizmo.do/d70aDeo

Stephen Curry takes a shot at a new game: Producing for Hollywood http://bit.ly/2LzwM7y

The prettiest fall fashion, shot in Lake Como: Explore the sun-soaked romance of Italy's Lake Como in the season's most effortless and unexpected pieces. http://bit.ly/2zUvenA

SPORT

OTD: In 1996 Muhammad Ali lit the flame to open the Olympic Games in Atlanta, Georgia.

Video: Jim Kelly accepts Jimmy V Award for perseverancehttp://bit.ly/2LwoGwD

F1: Lewis Hamilton finally ended speculation over his future on Thursday as the four-time world champion signed a blockbuster two-year contract extension with Mercedes. Hamilton's deal is worth a reported £40 million ($52 million) per year, cementing the British star's status as Formula One's highest-paid driver and his country's top-earning sportsman.

ESPN: UNC's Larry Fedora says the game of football is 'under attack'

Guardian: UNC coach says softening of football could bring down America and military

"Our game is under attack," Fedora told reporters. "I fear the game will be pushed so far from what we know that we won't recognize it in 10 years. And if it does, our country will go down, too."

@SInow: The 141 survivors of Larry Nassar’s abuse presented a “new vision of courage” as they accepted the Arthur Ashe Courage Award

Video: The 2018 Hockey Night In Canada season-ending montage http://bit.ly/2LwyKWs

Would I lie to you? Would I lie to you honey? Now would I say something that wasn't true?

Would I lie to you? Would I lie to you honey? Now would I say something that wasn't true?

Marc Ross Daily
July 18, 2018
Curation and commentary from Marc A. Ross

Reporting from Alexandria, Virginia

Marc Ross Daily  = Business News at the Intersection of Global Politics + Policy + Profits

Subscribe here: https://goo.gl/bSQKwA

TOP FIVE

✔️ May’s Brexit plan narrowly survives in parliament

✔️ Frankfurt losing edge in Brexit race as Paris gains ground

✔️ Chinese consumers ready to boycott US goods in trade war

✔️ Besieged Trump says he misspoke on Russia

✔️ Stripe is getting into book publishing

GEOECONOMICS

"The International Monetary Fund is keeping its forecast for global economic growth unchanged at 3.9 percent this year"

Mexico: Andres Manuel Lopez Obrador, the landslide winner of Mexico’s elections, may not take office until December, but he plans to start advancing his agenda immediately.

May’s Brexit plan narrowly survives in parliament: WSJ reports, Prime Minister Theresa May’s Brexit plan narrowly passed in parliament, a struggle that casts doubt on whether she can negotiate an exit deal with the European Union that is acceptable to British lawmakers.

The Times: Back me or we hold an election, May told Brexit rebels

Hague says no to number two: Former Tory leader William Hague writes in the Telegraph that a second referendum is a “beguiling idea” that would prove “completely disastrous” for Britain.

Bloomberg: Frankfurt losing edge in Brexit race as Paris gains ground

160: A stockpile of gold estimated to be worth $160 billion is locked away in Hindu temples across India.

QOTD: “On the question of whom to believe, whom not to believe, and whether it’s possible to believe at all: you cannot believe anyone." -- Valdimir Putin

Reuters: Greenland plans office in Beijing to boost trade ties with China

Many Chinese consumers ready to boycott US goods in trade war: FT reports, the survey found that 54 percent of 2,000 respondents in 300 cities across China would “probably” or “definitely” stop buying US-branded goods “in the event of a trade war”.

USA Today - China's US Ambassador Cui Tiankai OpEd: Donald Trump's trade war is unjustified and unfair

"Donald Trump's plan to levy tariffs on China is unjustified and will not be effective. There will be no winner in this trade war. Only losers."

Latest sign of China’s slowdown: A technology cash crunch: NYT reports, China is struggling with weakened investment and household consumption and increasing corporate and local government defaults. It could present Xi Jinping with his most difficult problem since he became the country’s top leader in 2013. Will China’s 40 years of continuous economic expansion stop under his rule? If so, how will 1.4 billion Chinese react when they realize that the country’s upward trajectory is coming to an end?

China built an army of influence agents in the US: The Russians may be getting all the attention for influencing American opinion and policy. But Beijing has been at it for decades. https://thebea.st/2utVbVA

AMERICAN POLITICS

‘She was like a novelty’: How an alleged covert Russian agent gained access to elite conservative circles: WP reports, Maria Butina, who was indicted this week, befriended leaders of the National Rifle Association and the Conservative Political Action Conference, and sidled up to Republican presidential candidates. But by August 2016, the FBI was watching, officials said.

Facing heavy criticism, Trump now says he misspoke over Putin-friendly remarks: LAT reports, in his attempt to walk back his remarks, Trump said he accepts the consensus of American intelligence agencies that Russia interfered in the election.

WSJ: Trump reverses on election meddling, backs US intelligence findings

NYT: Besieged Trump says he misspoke on Russia

Trump says he accepts evidence of Russian meddling: FT reports, president says he misspoke when he sided with Putin over US intelligence.

George Will: This sad, embarrassing wreck of a manhttps://wapo.st/2zJnx3r

"America’s child president had a play date with a KGB alumnus, who surely enjoyed providing daycare. It was a useful, because illuminating, event: Now we shall see how many Republicans retain a capacity for embarrassment."

Bloomberg: As cost of trade war grows, farmers remain with Trump-for now

Auto industry pushes White House to back off tariffs: WSJ reports, automakers, parts suppliers and dealers are joining forces to push back against plans to apply tariffs of up to 25% on vehicles and components imported into the US.

Treasury struggles with House GOP on foreign investments: Bloomberg reports, the White House last month decided against the harshest measures to restrict Chinese investment through invoking a national emergency law and instead rallied support for existing legislation to strengthen the Committee on Foreign Investment in the US, or CFIUS. US lawmakers from the Senate and House of Representatives are negotiating a compromise for two separate bills that they aim to pass with an annual defense spending bill later this month.

Consumers considering replacing big-ticket items such as washing machines and televisions are shopping now to avoid tariffs set to take effect on imports in the coming months. 

Fed speaks: Federal Reserve Chairman Jerome Powell told Congress trade wars are bad for economic growth and bad for wage growth.

Lawmakers to take aim at urban, rural broadband divide: The Hill reports, lawmakers in the House are trying to tackle the "digital divide" - the disparity between internet access in highly connected urban areas and rural areas that lack fast broadband - or broadband at all. 

OTD: In 1969 US Senator Edward Kennedy’s car careered off a bridge on Chappaquiddick Island killing his passenger, Mary Jo Kopechne.

I watched Chappaquiddick this weekend - powerful and well acted by Jason Clark and Ed Helms. See the trailer here: http://bit.ly/2uy68Wn

ENTERPRISE

WSJ: Google hit with record $5 billion EU fine in Android case

HBD: Steve Forbes, editor-in-chief, Forbes magazine, and two-time GOP presidential candidate, 71

Chinese VC funds pour $2.4bn into Silicon Valley start-ups: FT reports, Chinese venture capital funds inked $2.4bn in deals between January and May this year and are on track to double the record they set last year on US investments, according to data from independent research house Rhodium Group. The success of the venture funds, whose main focus has been communications technology and biotech.

Salesforce has signed an agreement to acquire Datorama, a marketing tech company whose platform connects and consolidates data from different sources, for $800 million.

HBD: Sir Richard Branson, founder and chairman, Virgin Group, 68

The Verge: Lyft will offer discounts to people who use bikes and scooters to connect to transit

NYT: MGM sues victims of shooting, seeking to avoid liability

Didi Chuxing Technology is looking to spin off its car services unit in a deal worth up to $1.5 billion ahead of its expected initial public offering.

Axios: Payments company Stripe is getting into book publishing

SCMP: BMW is the envy of carmakers as first with 75 percent stake in China

OTD: In 1955 Disneyland opened in California

50 years after Concorde, US start-up eyes supersonic future: AFP reports, A US start-up is aiming to revive commercial supersonic flight 50 years after the ill-fated Concorde first took to the skies. Blake Scholl, the former Amazon staffer who co-founded Boom Supersonic, delivered the pledge this week in front of a fully-restored Concorde jet at the Brooklands aviation and motor museum in Weybridge, southwest of London.

Swatch announced an all-time record in half-year sales saying it has millennials to thank for bringing wristwatches back.

TRENDS

Ending one-use plastic waste: Starbucks and McDonald’s team up to rethink cups.

American homes keep getting bigger: In 1920, the average floor area was 1,048 square feet, which rose to 1,500 by 1970 and today sits at around 2,657 square feet.

VC RMB: Chinese venture capital investment in the US came close to $2.4 billion in the January through May period.

QOTD: “If companies are not looking ten years ahead in the future, then they are in denial about where they are going.” - Amelia Kallman, futurist and entrepreneur, on the future of work and employment.

CULTURE

This is your brain on Cirque du Soleil: The beloved entertainment giant is working with a neuroscientist to try to measure the emotion of awe. It’s all in the name of designing better shows. http://bit.ly/2zLu5hR

CHN BO flop: Asura is a Chinese epic fantasy film that cost 755 million yuan ($113 million) to produce. In its opening weekend, it made a mere 49 million yuan, or about $7 million. Movie flops can happen on both sides of the Pacific.

Thom Browne makes a play for soccer superstardom with FC Barcelona http://bit.ly/2zPMgTO

The best burgers in Los Angeles, according to top chefshttps://bloom.bg/2uwGjpN

SPORT

The Open = current odds from Oddsshark.com:

Dustin Johnson +1200
Justin Rose +1600
Rickie Fowler +1600
Rory McIlroy +1600
Jordan Spieth +2200
Jon Rahm +2200
Tommy Fleetwood +2200
Justin Thomas +2200
Brooks Koepka +2200
Tiger Woods +2200
Henrik Stenson +2800
Sergio Garcia +2800

World Cup US viewers: Nielsen Media gives Fox's coverage of the France-Croatia final 11.8 million viewers, off significantly from the 17.3 million viewers who tuned into ABC and ESPN for the 2014 match. In fairness, the 2014 World Cup final had traditional world soccer powers Germany vs. Argentina.

World Cup expectation rankings: Who over- and under-performed in Russia? https://on.si.com/2uwuhMQ

NBA: The Toronto Raptors have agreed to a deal to acquire All-NBA forward Kawhi Leonard in a larger trade package that includes All-Star forward DeMar DeRozan, league sources told ESPN.

@AP_Sports: Record 10 homers as AL wins All-Star Game 8-6 in 10 innings