Good morning, Quartz readers!
What to watch for today
The Bank of England mulls its next move. The central bank is expected to keep interest rates steady. But could signal a likely hike in the first quarter of next year, despite the growth-dampening effects of Brexit.
The US may crack down on trade with China. The Trump administration is reportedly preparing to unveil an investigation of alleged violations of US intellectual property. The move comes amid Washington’s growing frustrations about Chinese restrictions on US businesses, and Beijing’s reluctance to confront North Korea.
Venezuela’s opposition protests the country’s new assembly. The demonstration coincides with the inauguration of new legislators, picked in a lopsided election to rewrite the country’s constitution. Two opposition leaders, taken in pre-dawn raids on Monday night, remain in custody.
While you were sleeping
Trump begrudgingly signed a Russian sanctions bill. The US president, faced with a veto-proof majority in Congress, approved legislation that limits him from making future changes to sanctions while also turning old sanctions into law. He called the measure “flawed” and “unconstitutional.”
A US scientist announced a gene-editing breakthrough. Shoukhrat Mitalipov of Oregon Health & Science University used the tool known as Crispr to correct a genetic mutation that causes a life-threatening cardiac disease. The procedure created apparently healthy embryos, raising the prospect of one day eradicating many hereditary ailments.
Qatar Airways abandoned its plans to invest in American Airlines. The airline scrapped an attempt to buy up to 10% of its rival’s shares in the face of stiff opposition from American’s CEO, who called the overture “puzzling at best and concerning at worst.’’ Qatar Airways said the purchase “no longer meets our objectives.”
Tesla results were better than expected. The company posted a net loss of $336.4 million, from $293.2 million a year earlier, ahead of analyst projections. Revenue more than doubled, to $2.79 billion from $1.27 billion, on higher sales of the its Model S and Model X vehicles.
Germany agreed to overhaul 5.3 million diesel vehicles. Politicians urged carmakers to focus on consumers in the revamp of emissions software, as many German cities continue to call for outright bans of diesel vehicles. Lawmakers and carmakers met on Wednesday to discuss the plan, considered a first step in reducing emissions and repairing the auto industry’s battered reputation.
Quartz obsession interlude
Akshat Rati on overblown fears about genetic engineering. “We don’t yet understand the sheer number of genes involved in the creation of traits [such as higher intelligence or greater strength] … even if you think it’s an ethical hazard to the Crispr to provide advantageous mutations, there’s no reason to worry right now; those ‘designer babies’ are decades away.” Read more here.
Matters of debate
Amazon is a public good. “Everyone uses it but it cannot seem to make any money.”
Trump wouldn’t need a trade war if he’d stayed in the TPP. The trade deal would’ve forced China to crack down on IP violations and moderate its tariffs.
Venezuela’s economic crisis is unprecedented. It dwarfs anything in American, Western European, or Latin American history.
Surprising discoveries
Nature is reclaiming Fukushima. Seven years after the nuclear reactor disaster, a photographer found a sea of green.
Switzerland has $750 billion burning a hole in its pockets. The country isn’t sure where it should invest its massive foreign reserves (paywall).
Climate change may be causing Indian suicides. A new study argues that 60,000 farmers took their own lives because of environmental degradation.
Queen Elizabeth II has an impressive cocktail schedule. The 91-year-old British monarch consumes four cocktails a day, including three before 1pm.
A Japanese chef accidently created melt-proof popsicles. “Kanazawa Ice” uses strawberry extract to remain solid, even in 28℃ degree (80℉) weather.
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