7.26.2018

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7.26.2018
All your news in a single email. We scour 100+ sources so you don't have to. Culture, science, sports, politics, business, and more - all packaged in a 5-minute read below.
 
Need To Know.
Facebook Trades Profit for Privacy.
Shares of Facebook plummeted approximately 20% in after-hours trading on Wednesday after the company said profit margins would drop over the next few years. Chief Financial Officer David Wehner said Facebook's operating profit margin - the company's revenue less costs of operation - would drop to the "mid-30s" for the next two years after coming in at 47% last year, and 44% this year. The drop is due to the costs of improving privacy safeguards following stricter European privacy rules and the Cambridge Analytica scandal. Growth has also slowed to a trickle in Facebook's primary North American market, making it more difficult to absorb the projected revenue drop. The company lost nearly $150B in market capitalization on the day (for perspective, there are only about 60 companies in the world worth $150B overall). 

On the same day, China granted - then revoked - a license for Facebook to open an innovation hub in the country. 

There's Water on Mars (Probably)!
Scientists found evidence that a large body of saltwater is present under the southern surface of Mars. Researchers used ice-penetrating radar to probe beneath the nearly 2-mile-thick ice cap that covers the planet's southern pole. If confirmed it would be the first-ever observation of liquid water, a key ingredient for life, on the Red Planet. Water has been observed before on Mars in the form of ice and gas, or trapped in rocks - the planet used to be much warmer and wetter billions of years ago. Photos taken by NASA rovers have confirmed the presence of ancient lakes on the Martian surface. Scientists believe the newly-found body of water may contain too much salt to sustain life, but the findings give hope that other subterranean bodies of water may exist. 

Explore NASA's Mars map here (best viewed on desktop). 

Trade Tensions Ease with EU.
President Trump said the US would work with the European Union to eliminate tariffs and lower barriers to trade. The announcement came after a meeting with the EU's top trade chief yesterday and puts the brakes on an escalating trade war that began when the US placed tariffs on steel and aluminum imports. Both sides reportedly agreed to hold off on any further tariffs - the administration had floated the idea of a 25% tariff on $200B in foreign-made cars ahead of the meeting. The US does about $1.1T in trade each year with the EU - in 2016 it imported just over $500B in goods and services, while exporting $592B (see stats). 

 
In The Know.

Sports, Entertainment & Culture.

2018 Kennedy Center honorees include Cher, Hamilton creator Lin-Manuel Miranda, and Reba McEntire (More)  
HBO's greenlights 2019 movie of its popular western series Deadwood (More) | 9 to 5 sequel confirmed with original cast starring Jane Fonda, Dolly Parton (More)
Dallas Cowboys owner Jerry Jones will require players to stand for national anthem (More)
 

Science & Technology.

Report says ride-sharing services increase congestion in cities and added 5.7 billion miles of driving in the nation's 9 largest metro areas (More) | Uber's self-driving cars return to the road four months after fatal accident, but only in manual mode for now (More)
Researchers use focused sound waves to open the blood-brain barrier, may help drugs pass into the brain more easily (More)
European court says CRISPR-modified plants will fall under tough European Union rules regarding genetically modified crops (More) | CRISPR 101 (More)
 

Business & Markets.

Former legendary Fiat Chrysler CEO Sergio Marchionne dies at 66 (More) | Big 3 Automakers (GM, Ford, Fiat Chrysler) provide reduced 2018 profit outlook, shares fall  (More
Toymaker Mattel to cut 2,200 non-manufacturing jobs as sales slump (More)
Pharma giant GlaxoSmithKline invests $300M in genetics testing startup 23andMe (More)

Want a daily deep dive in finance? Check out our partner, Finimize – the daily email that everyone in finance secretly reads. Founded by a Forbes ‘30 under 30’ recipient, Finimize is the perfect 3-minute cheat sheet on the latest financial news – free and without any jargon. We read it every day and think you’d like it too. Sign up here.
 

Politics & World Affairs.

Small bomb detonated outside US embassy in Beijing, no major injuries reported (More)
Warring South Sudanese leaders reach tentative power-sharing agreement, may signal end to country's five-year civil war (More)
Reps. Mark Meadows (R, NC-11) and Jim Jordan (R, OH-4) introduce bill to impeach Deputy Attorney General Rod Rosenstein over failure to respond to congressional document requests (More)
In Depth.

The Mystery Of The Tick-Borne Meat Allergy. 

The New York Times Magazine | Moises Velasquez-Manoff. Because other mammals are biologically similar to us, allergic reactions to eating their meat were once thought to be nearly impossible. Strangely, new findings show that tick bites have drastically changed the frequency of this unusual phenomenon - and it has remarkably affected the way we think about allergies
 

For My Entire Childhood, My Mom Convinced Me I Was Dying. 

Narratively | Marissa Gwidt. Her mother convinced her she had cancer. When that perception was eventually halted by numerous doctors, her mother convinced her that she had an eating disorder. Once that ailment was disproven, her mother convinced her she had pneumonia. Read the heartbreaking story of a woman who only recently realized that what she had actually survived was Munchausen by proxy syndrome.
Etcetera.
Heads Up: The longest lunar eclipse of the century kicks off tomorrow.

Terrifying photos of the devastating wildfires in Greece.  

Extensive analysis reveals America's happiest and most miserable states are...

Doctors confirm that soccer superstar Cristiano Ronaldo is not human


The 2018 Instagram rich list, or how celebs are paid to post advertisements

The best new restaurants in the US (via Eater). 

Waste some time with the 100 greatest memes ever

Clickbait: A parasite in cat poop may be the key to reducing fear of failure.  

Historybook: HBD US Post Office (1775); FBI is founded (1908); HBD Mick Jagger (1943); HBD Dame Helen Mirren (1945); RIP Eva Peron (1952).

 
"The trick in life is learning how to deal with it."
- Helen Mirren

 
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