Good morning, Quartz readers!
What to watch for today
Norway decides whether to give its $1 trillion oil fund more flexibility. The finance ministry will rule on whether the world’s largest sovereign wealth fund will be allowed to invest in private equity to help boost returns. Skeptics fear fund managers would become less disciplined (paywall).
Mark Zuckerberg’s mea culpa to Congress. The Facebook CEO will be grilled over the Cambridge Analytica scandal and related privacy issues today and tomorrow. He’ll apologize for not doing enough to prevent the platform’s “tools from being used for harm,” including foreign interference in elections.
Donald Trump’s next move in Syria. On Monday evening, the president said he will announce within 24 to 48 hours what steps America will take in response to a chemical-weapons attack against civilians in a rebel stronghold near Damascus: “If it’s the Russians, if it’s Syria, if it’s Iran, if it’s all of them together, we’ll figure it out.”
While you were sleeping
The daughter of ex-spy Sergei Skripal was discharged from hospital. Yulia Skripal, who was poisoned by a toxic nerve agent along with her father on Mar. 4, has been taken to a secure location. The poisoning, allegedly by Russia, has led to major fallout between Western governments and the Kremlin, and the mass expulsion of diplomats on both sides.
The Russian rouble got another hammering. The rouble plunged (paywall) for a second day in a row—3.9% this morning, after a 4% drop on Monday. Russian deputy prime minister Arkady Dvorkovich said that the latest US sanctions against Russian companies have created uncertainty for investors.
Xi Jinping warned against returning to a “Cold War mentality.” Speaking at the Boao Forum for Asia, the Chinese president also said China would better enforce the intellectual property of foreign firms and lower import tariffs for cars. The remarks follow tussles over tariffs with the US.
Trump lashed out at the FBI for raiding his personal attorney’s office. He blasted the agency for raiding Michael Cohen’s office, calling it as a “real disgrace” and an “attack on our country.” On Monday, agents seized records (paywall) that reportedly included payments made in relation to Trump’s alleged affair with Stormy Daniels.
A Colombian FARC leader was arrested on a drug trafficking charge. Acting on a request from the US, authorities arrested Jesus Santrich in Bogota. Santrich, one of the heads of the now-disbanded rebel group and a former peace negotiator, is charged with planning to export cocaine worth $320 million to the US. The US has requested his extradition.
Quartz obsession interlude
Echo Huang on China investing far more in renewable energy than any other country. “China, the world’s largest emitter of greenhouse gases, is determined to rebalance its energy mix, and incorporate more clean energy. That determination is reflected in the money it put into renewable energy last year, dwarfing spending by the next biggest investor, the US.” Read more here.
Matters of debate
Government algorithms should be studied like environmental hazards. We need assessments of AI implementation similar to the environmental-impact reports now required by many jurisdictions.
Blockchain is flawed in vision and design. Regulation-free currency actually highlights the importance of regulations.
Economies of scale are on the way out. New technologies are enabling small companies to undercut their once-formidable larger competitors.
Surprising discoveries
A man was hospitalized after eating the world’s hottest chili. The 34-year-old suffered “thunderclap” headaches after munching on a Carolina Reaper at a contest.
Black Lives Matter’s biggest Facebook page was allegedly run by a white Australian man. He walked away with more than $100,000 in donations.
Nikola Tesla predicted mobile phones in 1926. He also said wireless capabilities would turn the world into a “huge brain,” and that women would surpass men.
Baby-eel smugglers were thwarted in Spain. Trade in the endangered European glass eel is hugely lucrative, with one shipment alone worth about $490 million (paywall).
The Westworld creators offered to spoil the entire second season. They said they’d post a video outlining the upcoming season if the idea got enough upvotes on Reddit.
Our best wishes for a productive day. Please send any news, comments, all the chilis, and tech predictions 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 Lianna Brinded.