Donald does Davos, ECB announcement, grumpy cat lawsuit

Good morning, Quartz readers!

What to watch for today

Donald does Davos. The US president will meet one prime minister he likes (Israel’s Benjamin Netanyahu) and one he berates with angry tweets (UK’s Theresa May). While he’ll be the guest of honor at a party thrown by the World Economic Forum, some Davos attendees are apparently planning to walk out of Trump’s speech.

The European Central Bank meets the press after its policy meeting. President Mario Draghi is unlikely to announce an interest-rate tweak. But with the euro zone doing great, investors will look for hints of a change in the timetable for withdrawing the massive bond-buying program. One concern is that the euro has become too strong.

Caterpillar’s fourth quarter provides clues on the global economy’s health. The Illinois-based maker of heavy machinery saw its stock surge last year amid signs of a turnaround in its markets around the world. Analysts expect $12 billion in revenue (paywall), up from $9.6 billion a year ago.

While you were sleeping

Trump said he’s willing to speak under oath in the Russia inquiry. The US president said he’s “looking forward” to the interview with special counsel Robert Mueller which he said could take place in “two or three weeks.” Mueller is investigating Russian interference in the 2016 election, and whether there was collusion with Trump’s campaign.

Ricardo Rossello said Puerto Rico can’t pay any of its debts for five years. The US territory’s governor projected budget gaps for the next four fiscal years, leaving nothing to pay back $72 billion in bond debt until 2022. The forecast was part of his revised turnaround plan, which assumes over $35 billion in federal aid for recovery from Hurricane Maria.

China hit North Korea where it hurts. It said that last month it sold only a small amount of jet fuel to its neighbor, but no other oil products, while importing none of its coal, lead, or iron ore. That suggests Beijing—North Korea’s biggest trading partner—is keeping up pressure on Pyongyang amid tensions over its nuclear and missile programs.

South Korea’s economy shrank unexpectedly  in the fourth quarter. The contraction from the stellar third quarter—which saw the fastest expansion in seven years—marked the worst quarterly performance since 2008. Car shipments were below target and a long holiday in October hit industrial production.

Quartz obsession interlude

Ashley Rodriguez on why a movie like Bright can bomb with critics and kill with audiences. “Netflix knows quality isn’t the only factor that attracts viewers—otherwise, Adam Sandler wouldn’t be as popular as he is on the service. Netflix nixed its old star-rating system last year because people used it to rate the quality of the titles, like critics do, rather than how much they enjoyed them.” Read more here.

Matters of debate

The biggest career mistake is getting too comfortable. Being the expert with the most experience in your field means you might have already missed valuable opportunities for reinvention.

Farmland could offset America’s entire carbon footprint. Soil carbon sequestration should please just about everyone, but it needs to be put in motion soon.

Investors should avoid high-testosterone hedge fund managers. A new paper concludes that these individuals underperform compared to their lower-testosterone counterparts.

Surprising discoveries

The internet’s favorite grumpy cat just won a $710,000 lawsuit. A US coffee company used images of the cat, whose real name is Tardar Sauce, without permission.

A 16th-century manuscript was found in an old copy of Alice in Wonderland. The 1583 land transfer deed, which was believed to have been lost in a fire, surfaced in an Australian shop.

People in Japan can pay handsome men to make them cry. Rui-katsu, or “tear seeking,” is popular with the Japanese, who are known to be infrequent criers.

Norway is leaving the fur business. New laws outlawing pelt farming represent a growing shift toward respecting animal consciousness.

Witch hunts began as a publicity stunt. Protestantism and Catholicism used Germany as their battleground, and each wanted to prove its prowess in beating back Satanic influences.

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