🌍 Nuclear fears
Good morning, Quartz readers!Read more……
Good morning, Quartz readers!
Here’s what you need to know
The UN’s nuclear watchdog is alarmed about a power station in Ukraine. The Zaporizhzhia plant, Europe’s largest nuclear power station, shut down one of its reactors after being shelled over the weekend.
China ran long-range airstrike drills near Taiwan. The drills are thought to be some of the last extensive ones the country will launch in response to US house speaker Nancy Pelosi’s visit to the island.
More grain left Ukraine. Four ships are bringing 160,000 metric tons of food and goods to Europe, Asia, and the Middle East via the Black Sea.
Antony Blinken landed in Africa. The US secretary of state was in South Africa yesterday, and will head to the Democratic Republic of the Congo and Rwanda in a tour that’s seen as a counter to growing Russian influence on the continent.
A ceasefire is being negotiated in Gaza. A truce would end a weekend of violence between Israeli and Palestinain militants that left more than 40 people dead.
India’s newest airline took off. Budget carrier Akasa Air began its commercial flights yesterday with an inaugural leg between Mumbai and Ahmedabad.
What to watch for
Japanese conglomerate SoftBank, which runs the world’s largest tech venture capital funds, releases first quarter earnings today and is expected to report billions of dollars in losses amid a slipping tech market and defecting top executives.
The firm has already burned through over 60% of the capital it committed to a $7.5 billion buyback launched last November, and has now raised $22 billion by selling about a third of its stake in Alibaba through prepaid forward contracts.
A potential IPO for Arm, the SoftBank-owned UK chip maker, could bring some financial relief, especially as SoftBank’s private investments are also predicted to drag down profits. In the meantime, SoftBank CEO Masayoshi Son is likely to take a more cautious approach to portfolio investments as his firm weathers the storm.
Turning up the heat on UPS
This June, 24-year-old United Parcel Service driver Estaben Chavez died delivering packages in the Los Angeles area. His family believes it was due to the heat inside his truck. More reports of UPS drivers hospitalized and collapsing on the clock are rolling in, with some sharing photographs of the terrifying temperatures they experience.
The Teamsters union that represents 350,000 UPS workers across the US is campaigning for better protections with the $169 billion delivery company. The fight is emblematic of increasing concerns about how climate change will impact workers’ health and safety.
Here’s a look at how things stand, by the digits:
0: UPS trucks with air conditioning
161°F (71.7°C): One internal UPS truck temperature allegedly recorded by a driver
$260 million: Amount UPS spends annually on safety training programs, including those focused on heat issues
A challenge to the starving artist myth
When you think of creative professions, do you think of six-figure salaries? Well, a new industry survey from the job matching platform Creatively suggests that designers working for American companies are now commanding an average wage of $88 per hour or $156,000 a year—around a 40% bump compared to last year’s rates.
There’s a crucial nuance to Creatively’s findings though. Because the creative sector encompasses so many fields, the title “creative” is used very broadly, and one’s income is highly dependent on one’s specialization. For instance, designers adept in emerging technologies such as Web 3 and metaverse can earn an average of $312,000 a year, but visual artists, singers, copywriters, graphic designers, and editorial directors earn much less.
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