Good morning, Quartz readers!
What to watch for today
Reserve Bank of India to cut rates again. Trying to revive a moribund economy, India’s central bank is expected to cut rates to 7.25%, even though it admits that previous rate cuts have done nothing for the economy.
US jobs report. Consensus prediction is 148,000 jobs created in April, but it could be lower, due almost entirely to actions by the US federal government.
European Commission releases its forecast for growth and unemployment in the EU. Perhaps you’ve heard that France and Spain have problems with debt.
Berkshire Hathaway hoedown. Come on down to Omaha, y’hear? For the annual shareholder’s meeting hosted by Warren Buffett, featuring, what else, a cookout. The main event is Saturday. You might also follow Buffett on Twitter—he just started tweeting this week.
Earnings today: Berkshire Hathaway, Royal Bank of Scotland, BNP Paribas, Man Group, Air France KLM, Adidas, Westpac.
While you were sleeping
The European Central Bank cut rates for first time in 10 months. Mario Draghi, ECB president, says he is “ready” to fight a recession.
Earnings: LinkedIn’s sales were up 72%, but shares fell after hours as its forecast disappointed investors. Online reviews company Yelp continued to lose money, but its shares were up sharply because it raised its earnings forecast. Beam Inc. had its best quarter ever, as consumers hoarded Maker’s Mark bourbon on fears that the company planned to water it down. (Beam abandoned those plans in the face of an uproar.)
Quartz obsession interlude
Josh Meyer on how a Mexican drug lord is the master of global supply chains. “Initially, Guzman went outside of Mexico in response to the crackdown by former president Felipe Calderon that led to all-out war on the streets and more than 70,000 deaths. But, emboldened by success, he embraced a strategy of expansion and domination based on the principles of ‘deviant globalization.’” Read more here.
Matters of debate
If you want to improve working conditions in Bangladesh, boycott the Gap. They’re one of the manufacturers who refused to sign labor protection agreements.
Is the mobile industry failing theft victims? It would be pretty simple to shut down or locate stolen phones, but if you’re a phone manufacturer, why bother when it just means another sale?
Is Iraq falling apart again? Killings hit a peak not seen since June of 2008.
Fracking is not going to get the US out of the Persian Gulf. Let’s get over “energy independence,” shall we?
China has troops in India and no one knows why. In their defense, the border they crossed is unmarked.
79% of Americans get less than the recommended 2.5 hours of exercise a week. File this under unsurprising discoveries.
Many lipsticks contain lead. The average lipstick user is getting 20% of their daily recommended intake of heavy metals.
Commenters on federal regulations are exactly like internet commenters. At least this guy is short and to the point.
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