Good morning, Quartz readers!
What to watch for today
Beijing’s top economic policymaker goes to Washington. Liu He will discuss US-China trade disputes (paywall) as the Trump administration ramps up criticism of China’s trade policies.
Daimler’s biggest shareholder continues his German goodwill tour. Li Shufu, founder of Chinese automaker Geely, ruffled some feathers by investing $9 billion in Mercedes-Benz’s owner. Today he’ll sit down with Lars-Hendrik Roeller, economic adviser to chancellor Angela Merkel, amid fears of German expertise falling into Chinese hands.
Jerome Powell makes his congressional debut. The new chairman of the US Federal Reserve may signal that he’s willing to accept slightly higher inflation—say 2.5%, versus the current 2% target—in order to extend the economy’s winning streak.
The world’s biggest chemicals company reveals its full-year earnings. Germany’s BASF is expected to report (paywall) strong growth in sales and profit. One concern: The company said earlier this month it could incur up to $74 million in extra costs annually due to Brexit’s impact on customs duties and supply-chain logistics.
While you were sleeping
Apple is making an extra-large iPhone. The company is reportedly prepping a new smartphone lineup to reverse sluggish sales of the expensive iPhone X, according to Bloomberg. Meanwhile, bullish comments from investor Warren Buffett drove Apple shares close to an all-time high.
Amazon launched fulfillment services for third-party traders in Australia. Small merchants selling on Amazon Marketplace can now use the e-commerce giant (paywall) to store, pack, and ship orders nationwide and overseas, and handle returns. Amazon launched in December in Australia, where the “tyranny of distance” has long shaped the economy.
New Zealand’s opposition party picked a new leader. The youngest of the National Party contenders, 41-year-old Simon Bridges promises generational change. He’ll likely challenge prime minister Jacinda Ardern—even younger at 37—in the 2020 election. Part Maori, Bridges is the first member of the country’s indigenous people to lead a major party.
Two Airbnb hosts in Singapore pleaded guilty to unauthorized rentals. It was the first such case under rules on short-term property letting introduced last year. Charged with renting four condo units for less than six months without permission from authorities, the hosts face fines of up to $152,000 for each offense.
GE plunged as it overhauled its board. The embattled conglomerate said three outsiders would replace some of its longest-serving members, as it shrinks its board (paywall) and many of its sprawling businesses. Its shares plunged to the lowest level since July 2010 after the company revealed that federal regulators are examining its accounting practices.
Quartz obsession interlude
Josh Horwitz on the anti-Marxist intellectual gaining a following in China. “Jordan B. Peterson, a Canadian psychologist and author with a large following on YouTube… is fed up with cultural signals and institutional measures that aim to, in his view, maximize ‘equality of outcome’ for women, minorities, and other groups. Yet much of Peterson’s commentary runs parallel to a movement that has long been gestating in China.” Read more here.
Matters of debate
Companies shouldn’t cut ties with gun owners. Warren Buffett argues against imposing his personal views on his employees and shareholders.
We’re entering the age of human climate migration. Extreme weather from climate change displaced more than 1 million people in 2017.
Taiwan needs to preserve its history. A push to modernize is destroying crucial artifacts.
Surprising discoveries
Teen sexting is more common than you think. One in seven kids from ages 12 to 17 has sent a sext, and one in four has received one.
American psychopaths are different from Dutch psychopaths. The most salient qualities in the US are callousness and a lack of empathy; in the Netherlands they’re irresponsibility and neediness.
Snowball fights broke out in the Vatican. Rome, and some of the world’s top tourist destinations, are coated in several centimeters of snow.
Apple uses Google’s cloud for iCloud. Executives confirmed that it uses the Google Cloud Platform to store photos, videos, and other files.
Infants expect people to be prejudiced. Babies expect a woman doling out cookies to favor those who look more like her.
Our best wishes for a productive day. Please send any news, comments, psychopath profiles, and snowy Colosseum pics hi@qz.com. You can follow us on Twitter for updates throughout the day or download our apps for iPhone and Android. Today’s Daily Brief was written by Steve Mollman and edited by Alice Truong.