Good morning, Quartz readers!
What to watch for today and over the weekend
US sanctions against Iran kick in. Countries have steadily been purchasing less oil (paywall) from Iran before the new sanctions come into effect at midnight on Sunday, although some big importers, such as India and China, are likely to continue buying from the country.
Imran Khan heads to China. Pakistan’s prime minister aims to negotiate an aid package during his four-day visit. Khan will likely meet premier Li Keqiang and president Xi Jinping in Beijing.
Berkshire Hathaway earnings. Analysts don’t expect hurricane-insurance claims and Kraft Heinz’s sales rut to drag too much on Warren Buffett’s empire. At a predicted $19 billion in net income from a series of prescient deals, the company could deliver record earnings (paywall) on Saturday.
More quarterly reports. ExxonMobil and Chevron are expected to show healthy ledgers today with energy prices climbing. Alibaba (paywall) will also give its first quarterly update since Jack Ma announced his retirement plans.
New Caledonia votes on independence from France. Some 170,000 voters in the Pacific island chain will take part in a referendum on Sunday to decide on its status as a French Overseas Territory. Many indigenous people are angry at what they call French exploitation of the islands’ resources, while those supporting a union with France—and they’re expected to win—say that generous funding from Paris keeps the economy and public services afloat.
While you were sleeping
Donald Trump doubled down on his threats against migrants. The US president said he would sign an executive order to restrict asylum rules next week, and that troops sent to the border to stop the thousands of migrants coming in from Central America could shoot at anyone who throws rocks at them.
Japan opened the door further to migrant workers. The cabinet approved draft legislation that would create two new visa categories for foreigners in sectors in need of workers. Parliament is likely to ratify the legislation later, as more and more businesses in Japan pressure the government to address the country’s labor shortage.
Apple’s market cap dipped below $1 trillion briefly. A combination of disappointing factors in its fourth-quarter earnings report sent Apple’s stock price plummeting in after-hours trading by 7% to $207, before recovering. It’s the first time the company’s market cap has fallen below the trillion-dollar-mark since August.
The US accused Chinese companies of stealing trade secrets. The Justice Department announced that it will be prosecuting firms in China and Taiwan—including Fujian Jinhua Integrated Circuit, which the Trump administration singled out earlier this week—for spying on Idaho-based Micron Technology.
SoftBank ordered robot pizza. The Japanese company’s Vision Fund gave Zume a $375 million investment, with another $375 million promised in the near future. The company, which uses robots to handle food preparation and delivery logistics, could be valued at $2.25 billion.
Obsession interlude
Sangeeta Singh-Kurtz on witchcraft and “mysticore” in the age of Instagram: “The mainstreaming of mysticism also overlaps with the broader interests of millennials—think yoga and meditation, mindfulness, and New Age spirituality. With that foundation, it might not be a stretch to show up for pagan holidays or new moon gatherings, or begin to explore the more serious spiritual concepts at the root of these practices.” Go down this rabbit hole with the Quartz Obsession email.
Matters of debate
People are fine with Apple making iPhones more expensive. The company’s earnings show people aren’t phased by $1,000 phones.
The cost of breeding more humane chickens is almost nothing.A projected 1% increase in prices is a small one to pay to stop some animal suffering.
Cities need more women on bikes. Angry men make urban cycling dangerous, especially in crowded cities like London.
Surprising discoveries
Japan lost an island. Esanbe Hanakita Kojima, which was only slightly above sea level, received a name four years before being swallowed by the sea.
Palau is the first country in the world to ban toxic sunscreens. Stores that sell such sunscreens will be fined up to $1,000, and bottles will be confiscated when entering the country.
AI will test truthfulness in European airports. Virtual border guards will look more skeptical and use different tones of voice if they think passengers are lying.
Girls are building Kyrgyzstan’s first satellite. It’s part of the country’s plan to crowdfund its space program.
India’s top science university had caste-segregated dining halls. Attempts to combine them were met with protests until the 1950s.
Our best wishes for a productive day. Please send any news, comments, lost islands, and ocean-friendly sunscreen 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 Isabella Steger and edited by Alice Truong.