Good morning, Quartz readers!
What to watch for today
Jerome Powell makes his congressional debut. The new Federal Reserve chairman 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.
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.
Macy’s reports its results. The department store is expected to post a fourth-quarter profit, and investors will be keen to see if its cost-cutting is helping it compete with online retailers.
While you were sleeping
Comcast put in a $31 billion bid for Sky. Comcast went up against Rupert Murdoch’s 21st Century Fox with a cash offer to acquire the British broadcaster, sending Sky shares up by 20% on Tuesday morning. Comcast, the biggest cable firm in the US, said its bid was 16% higher than Fox’s—which is still awaiting approval from UK regulators.
The world’s largest sovereign wealth fund had its biggest year ever. The $1-trillion Norwegian fund returned almost 14% in 2017, making 1,028 billion kroner ($131 billion). Most of the gains came from hefty stock returns, particularly in tech companies. The fund, which owns around 1.4% of the world’s listed stocks, said last year it was looking to get out of oil and gas.
Apple is launching medical clinics for its employees. It is advertising for doctors, health coaches, and health program “designers” at its AC Wellness clinics. Apple is reportedly also looking at the clinics as a way to test out its health services and products for consumers.
Prosecutors demanded a 30-year jail term for South Korea’s former president. Park Geun-hye was ousted last year in a corruption scandal that engulfed the country’s huge family-owned conglomerates. They also asked the court to fine Park over $100 million for soliciting bribes from South Korean companies. The verdict in Park’s trial is expected before April.
Amazon launched fulfillment services for Australian third-party traders. Small merchants selling on Amazon Marketplace can now use the e-commerce giant (paywall) to store, pack, and ship orders nationwide and overseas. Amazon launched in Australia in December, where the “tyranny of distance” has long shaped the economy.
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’ve entered the age of human climate migration. Extreme weather from climate change displaced more than 1 million people in 2017.
We should stop chasing economic growth. But that doesn’t mean giving up a capitalist economic system.
Surprising discoveries
Infants expect people to be prejudiced. Babies expect a woman doling out cookies to favor those who look more like her.
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.
Hong Kong the best place to live if you want to be your own boss. It was ranked as having the best transport system, second-best access to credit, and one of the three lowest income tax rates.
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.
Apple uses Google’s cloud for iCloud. Executives confirmed that it uses the Google Cloud Platform to store photos, videos, and other files.
Our best wishes for a productive day. Please send any news, comments, psychopath profiles, and Hong Kong startup ideas to 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 Jill Petzinger and edited by Eshe Nelson.