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Quartz Daily Brief—Europe Edition—Canada’s central banker, India’s rates, Warren Buffett’s tweets, Intel’s new CEO

By Leo Mirani


Published This article is more than 2 years old.

Good morning, Quartz readers!

What to watch for today

Reserve Bank of India to cut rates again. Trying to revive the economy, India’s central bank is expected to cut rates to 7.25%, even though it admits that previous rate cuts have done nothing.

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.

Glencore-Xstrata start trading today. After months and months of trying to get together, the two companies are finally united and start life as a new entity today. But “not one glass of champagne will be opened,” according to the CEO; lots of job cuts are coming.

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 Boston bombers wanted to strike on July 4. But they finished making their bombs faster than expected, investigators have discovered.

Canada got a new central banker. Stephen Poloz, head of Canada’s export development agency, will be the next governor of the Bank of Canada. The present boss, Mark Carney, will move to London in June to run the Bank of England.

Twitter got a head of corporate development. With the hiring of Morgan Stanley’s Cynthia Gaylor, Twitter set off renewed speculation about a possible market debut.

Verizon pressured Vodafone to sell its stake in their joint venture. The American company said it may not pay a dividend for the next two years, seen as a way to push Vodafone into exiting Verizon Wireless for a possible $100 billion.

Signs the US economy is doing all right. Truck sales are up! Jobless claims are down. But the sequester—aka America’s austerity program—is still a problem, says the Fed.

BlackBerry is secure enough for the US Department of Defense. The devices can now be used on the DoD’s networks. Apple has not yet been cleared.

The ECB rate cut is already having some positive benefits. Stocks are up in Asia this morning on the news that the European central bank’s headline interest rate is now 0.50%. America’s jobless figures helped too.

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?

Early adopters of Google Glass are damaging its brand. Google has to reign in these guys—and they’re all guys—before they make “Segway for your face” into a pejorative with teeth.

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?

Surprising discoveries

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.

Our best wishes for a productive day. Please send any news, comments, recommendations for the best phone-finding app, and love letters for the Fed to You can follow us on Twitter here for updates during the day.

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