What to watch for today
The EU announces emergency aid for migrants. It’s expected to unveil a plan to spend €300 million ($325 million) that would normally go outside the bloc for humanitarian aid within the EU. Swamped with migrants, eight of the 26-nation passport-free Schengen zone have reinstated border controls.
The UN Security Council votes on North Korea. Drafted by the US and China—which has rarely backed sanctions against its neighbor—the new measures are in response to the country’s nuclear tests. They include mandatory checks on cargo ships coming in and out of the North Korea.
Brazil’s central bank holds a somber meeting. It will likely keep its benchmark rate at 14.25% as the country’s economic outlook worsens. The economy shrank more than 4% in 2015.
Spain votes on a new parliament. Pedro Sanchez is aiming to secure the right for his Socialist Party to form a coalition, after coming second place in an inconclusive election in December. If a vote goes against the move today, there will be another on Friday (March 4).
While you were sleeping
Hillary Clinton and Donald Trump did what was expected. On “Super Tuesday,” Trump won seven of the states voting in the Republican polls, while Ted Cruz took three and urged the party to coalesce around him. Clinton took seven states—giving her almost half the delegates needed to seal the nomination—against Bernie Sanders’s four.
Welcome back, Scott Kelly. After a record-breaking 340 days on the International Space Station, US astronaut Kelly touched down in Kazakhstan with Russian cosmonaut Mikhail Kornienko. Kelly will be now be examined to see how prolonged space travel affects the body, using his identical twin Mark as a comparison.
SABMiller agreed a cheap Chinese beer sale. The brewing giant sold its 49% stake in Snow, the world’s biggest-selling beer, for $1.6 billion to the brand’s majority owner China Resources Beer Holdings, a state-backed firm. The sale, for less than expected, is part of a move to gain regulatory approval for a buyout by AB InBev.
Asian shares hit a two-month high. The region’s markets have rallied on the back of a rebound in oil prices, China’s planned structural reforms, and positive US manufacturing data. Japan’s Nikkei 225 closed up 4.1%. Hong Kong’s Hang Seng gained 3.1% while China’s Shanghai Composite rose by 4.3%.
The US slapped a 266% tax on steel from China. Six other countries were also hit by the tariffs, but China’s rate was the highest after the US Commerce Department said it sold the material at unfairly low prices. It’s the second time in three months that the US has tried to curb steel imports.
Australia’s GDP beat expectations. The economy grew by 3% in the fourth quarter, compared to a year earlier, more than an anticipated 2.5% increase. That’s despite a huge slowdown in its mining sector and concerns that other sectors aren’t picking up the slack.
Quartz obsession interlude
Josh Horowitz and Heather Timmons on how the Sharp-Foxconn deal fell apart. “Much of the blame should be attributed to the advisers to both sides, deal experts say… Despite all this high-powered advice, Foxconn reportedly got cold feet after a 100-point list of potential contingent liabilities, amounting to 350 billion yen ($3.1 billion), mysteriously emerged at the last minute. Read more here.
Matters of debate
Trump is the most consequential Republican since Reagan. His campaign is transforming his party into a populist, nativist one.
Don’t test your kids for grit. Non-cognitive skills like empathy and self-control are difficult to measure.
Your checking account might be easier to hack than your email. Banks don’t require the most secure login credentials.
Surprising discoveries
NASA wants to bring the internet to outer space. Engineers are developing plans for a high-speed network that spans the solar system.
There are a record number up for the Nobel Peace Prize. The 376 nominees include Angela Merkel, Pope Francis… and Donald Trump.
The US tax office is using a system that was hacked to protect victims of a hack. The agency confirmed it was just hacked again.
California’s Death Valley is alive with wildflowers. The rare and beautiful “superbloom“ is the result of the El Nino weather pattern.
The German gender pay gap is almost the worst in Europe. Women there earn an average $0.78 for every $1 earned by a man.
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