🌎 Twitter sues Musk

Plus: Why did the euro and the dollar reach parity? Was this newsletter forwarded to you? [Sign up here]( [Quartz]( July 13, 2022 [View in browser]( Sponsored By Good morning, Quartz readers! Here’s what you need to know Twitter sued Elon Musk in a Delaware court. Twitter doesn’t simply want to be paid in damages—the board wants the billionaire [to buy the company](. Google’s parent company became the latest tech giant to slow down on hiring. Alphabet CEO Sundar Pichai [told employees]( they need to be “more entrepreneurial.” Walmart committed to buying at least 4,500 electric vans from Canoo. The deal [offers a lifeline]( for the electric vehicle maker at a time its rivals are struggling, with Tesla shutting down a [California office]( and [Rivian mulling layoffs](. Former Trump official John Bolton admitted to orchestrating foreign coups. He [named Venezuela]( as one of the targets, a country where at least eleven Americans [are currently detained](. Sri Lankan president Gotabaya Rajapaksa fled to the Maldives. He is expected [to resign today](, becoming the first sitting Sri Lankan head of government to do so. London Heathrow Airport asked airlines to stop selling summer tickets. A daily cap of [100,000 passengers]( is needed until mid-September to cope with staff shortages. Three people were accused of plotting to sell stolen “Hotel California” documents. The files stolen from Eagles founding member Don Henley are estimated to be [worth $1 million](. Sponsor content by Fidelity This is a new way to have a professionally managed, personalized stock portfolio tailored to what matters most to you. Learn more about Fidelity Managed FidFoliosSM.[Advertisement] [Learn more]( What to watch for With [US gasoline prices]( still above $4.50 per gallon, president Joe Biden is under immense pressure to balance the global oil market. Asking consumers to use less oil is a political dead end. His best bet is to [squeeze out more barrels](, which [he hopes to do]( during a visit to Saudi Arabia and the United Arab Emirates this week. Global oil production is running practically full-steam. Production in the biggest shale oil basin in the US [hit a record]( in June. For some OPEC members, including [Nigeria]( and [Libya](, mismanagement and conflict have crippled drilling. Saudi and the UAE have a bit more drilling capacity, but it’s unclear if they would be [willing or able to put it to use]( (or if it can make a dent in gasoline prices). In a July 12 forecast, OPEC said it [expects global oil supply to lag]( behind demand well into 2023. Don’t hold your breath for a break at the pump. Why did the euro and the dollar reach parity? [A line chart shows the US dollar to euro exchange rate from July 11 to July 12. The currencies hit near-parity the morning of July 12.] For a few moments yesterday, the euro and the US dollar [were worth the same](. The parity is not a great milestone for the euro, which has been stronger than the dollar since 2003. Investors are worried about a looming economic crisis in Europe. The European Central Bank has been slower to raise interest rates, and Russia is [threatening]( the continent’s natural gas supply following economic sanctions over the war in Ukraine. And energy security continues to be a concern as the EU has agreed on a [Russian oil ban](, forcing nations to find new sources. If recession fears are dragging down the euro, what’s boosting the dollar? It’s about security. In times of economic uncertainty, many investors hold dollars because they believe the currency and the assets denominated in them are safer. The higher demand, the higher the value. Job training in the metaverse Virtual skill building has quietly become a multi-billion dollar business. It’s also already entered some treacherous terrain: the realm of workplace psychology. Training videos on bias and conflict resolution for workers and managers are often cringeworthy, but do we really want to learn how to be more emotionally intelligent humans from avatars and code? The [latest Forecast email]( looked at the benefits of donning a VR headset for training, as well as the new problems the technology presents (at least HR videos don’t make you dizzy). ✦ Become a Quartz member to get the Forecast email each week. Take [40% off]( when you sign up today! Quartz’s most popular 🌌 [Here are the first images of the universe from the James Webb Space Telescope]( 🎂 [Why Facebook took a Bengaluru-based cake shop to court]( 🤝 [For the first time, India allows global trade settlement in rupees]( 🙈 [Europe’s best defense against Russia’s gas squeeze is looking vulnerable]( 🧠[What parents—and their bosses—need to know about children’s mental health]( 💻 [The share of active crypto traders among Nigerian adults is the world’s highest]( Sponsor content by Fidelity This is a new way to have a professionally managed, personalized stock portfolio tailored to what matters most to you. Learn more about Fidelity Managed FidFoliosSM.[Advertisement] [Learn more]( Surprising discoveries Five of the world’s billionaires were turned into popsicles. Art collective MSCHF wants you to [eat the rich](, literally. The latest climate change gauge is fatty fish. Japanese fishermen fear katsuo are [plumping up]( because of warming water temperatures. Government workers in the Philippines were told to smile more. The Mulanay municipality [enacted a policy]( to stop people from grimacing while serving the public. A cobalt mine discovered intact after 200 years will be sealed again. Keeping oxygen out of the shaft is the only way to ensure its [inside remains pristine](. Sunlight boosts men’s appetite. Skin exposed to UV light was found to [secrete more ghrelin](, a hormone responsible for stimulating hunger—but only if no estrogen is present. SPREAD THE WORD Over 500k readers and counting. You already know why half a million people read the Daily Brief, so why not spread the word? [Share the Daily Brief today]( and get rewarded. Our best wishes for a productive day. Send any news, comments, popsicles, and genuine smiles to hi@qz.com. Reader support makes Quartz available to all—[become a member](. Today’s Daily Brief was brought to you by Sofia Lotto Persio, Julia Malleck, Morgan Haefner, and Tim McDonnell. 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