Good morning, Quartz readers!
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What to watch for today
China reports its fourth-quarter economic growth figures. The country’s GDP is expected to have risen 6.7% over 2017’s fourth quarter, down slightly from its third-quarter figure. Analysts believe steady domestic demand and an improved global economy may have canceled out potential setbacks (paywall) from slowing investment.
France and the UK talk European defense and immigration. French president Emmanuel Macron will visit British prime minister Theresa May in London to urge the UK to accept more refugees. France’s hope is that the UK will invest more in French border policing in addition to easing the country’s refugee strain, which has been a particular issue at migrant camps in Calais.
IBM releases numbers, which could finally show growth. For the first time in six years, the technology giant is predicted to show gains in revenue, with profits also on the rise. If IBM can keep up its momentum, it could forecast a rosy future (paywall) for investors in its cloud-based, security, and artificial intelligence areas.
While you were sleeping
Bitcoin’s price plummeted to half its peak. As tightening regulations loom in South Korea, Japan, and China, investors in cryptocurrency are jumping ship. Bitcoin fell below $10,000 on the Luxembourg-based Bitstamp exchange, with Citi analysts predicting a further—and more rapid—plunge to around $5,600.
Steve Bannon avoided a grand jury testimony. The former chief strategist to Donald Trump struck a deal with FBI special counsel Robert Mueller’s team, saying he’ll cooperate fully without invoking executive privilege. Bannon reportedly stayed quiet in a closed-door session with the House Intelligence Committee on Tuesday, aided by a White House lawyer who related questions to his client.
Goldman Sachs reported its worst numbers since 2008. Revenue for the bank is down 50%, which drove down share prices accordingly. For the first time in the company’s history, investment bankers performed better than fixed-income traders (paywall), whose $5.3 billion in revenue was nearly five times greater in 2009.
Twitter, Facebook, and YouTube put their weight behind net neutrality. Executives from all three platforms spoke in front of a US senate committee to show their support for a resolution to restore net neutrality. The measure can’t be formally introduced until new rules officially cancel Obama-era net neutrality policy, but it has the support of 49 Democratic senators and one Republican senator.
Italy will send more troops to Libya and Niger. The Italian parliament approved an increased military presence in the countries in order to curb migration and trafficking to Europe. Prime minister Paolo Gentiloni reopened parliament to vote on the move, which will relocate 470 troops from Afghanistan and Iraq.
Quartz obsession interlude
Olivia Goldhill on how the left is also guilty of unscientific dogma: “In areas where left-wing opinions contradict scientific evidence, there’s an unfortunate tendency to suggest that such scientific research is morally problematic. This speaks to a common trope on the left: their views aren’t simply accurate, but moral. Though those on the left are quick to point to right-wing scientific illiteracy, they’re often steadfast in their refusal to recognize their own dogma.” Read more here.
Matters of debate
The flu shot is mostly ineffective, but you should get it anyway. When more people are immune, the chances of contagion diminishes for everyone.
A legal weed market could be its own border wall. The legalization of marijuana in some US states has helped reduce crime in states bordering Mexico.
The accusations against Aziz Ansari are more an instance of bad sex than sexual assault. And they’re harming the #MeToo movement (paywall).
Surprising discoveries
Alexa is now more feminist. When asked explicit questions, she answers: “I’m not going to respond to that” or “I’m not sure what outcome you expected.”
California separatists are trying to create a new state. The proposed state, “New California,” would cover mostly rural, non-coastal counties, like Fresno and Chico.
A major UK pharmacy chain sold real fur instead of fake. Pressure from animal rights activists on social media convinced Boots to test and then recall the product.
Trailer parks are gaining popularity in the US. More affordable than single family homes, mobile communities are attracting retiring baby boomers and millennial families.
Students do better on standardized tests if they’re paid. Researchers paid students $25 before the test and charged $1 for each mistake—and they performed better than the unpaid control group.
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