Hello friends and Fortune readers.
The Open Championship is probably the most prestigious golf tournament in the world. On Sunday, this year’s tournament concluded in Liverpool and Rory McIlroy, a Northern Irishman, won. In his speech accepting the Claret Jug, he gained the ire of the gathered Liverpudlians by daring to admit that he is a fan of Manchester United, one of Liverpool Football Club’s biggest rivals. Honestly, they probably hate him more for that than the fact that he recently decided to represent the Republic of Ireland rather than Great Britain. One person who wasn’t booing the win, though, was McIlroy’s father, who won 100,000 U.K. pounds from a 2004 bet that his son would win the tournament within 10 years. With that, here’s what you need to know in business news today:
1. Netflix earnings in focus.
When you’re sitting alone at night watching Orange is the New Black, do you ever wonder how exactly the company that feeds your addiction makes its money? Find out later today when Netflix releases its quarterly earnings report. Netflix often goes deeper than other companies in earnings reports, so this release could include commentary on some of the recent developments in the media world, such as Rupert Murdoch’s attempt to buy Time Warner.
2. Halliburton surging.
Halliburton, the favorite liberal boogeyman of the Bush years, posted an earnings increase of 20% this quarter, according to Reuters. Contributing to the rise was increased oil drilling in the Gulf of Mexico and the United States.
3. Apple may have placed iPhone 6 orders.
Following iPhone rumors is a true great American pastime. Apparently, Apple has placed an order for the new phones with manufacturer Foxconn. Foxconn is looking to hire around 100,000 more workers to fill those orders, and the rumor is that the phone’s release date could be in September.
4. Russia wants to reduce reliance on American tech.
The situation in Eastern Europe is getting stickier and stickier. One new wrinkle is that, according to Bloomberg News, Russia is seeking to reduce its reliance on American tech companies such as Microsoft and IBM. This is in response to some of the sanctions placed on Russia throughout the course of the conflict in Ukraine.
5. Yum and McDonald’s both have problems in China.
If you thought your local fast food place was gross, wait till you see this. The meat supplier hat serves both of these fast food giants in China allegedly mixed fresh meat with expired meat, and had workers picking meat off the floor. Tasty. Both companies have apologized.