Good morning, Quartz readers!
What to watch for today
Donald Trump heads to the southern border. He will visit Texas, meeting with two Republican lawmakers and border patrol agents. Accompanying him is White House counsel Pat Cipollone, who’s expected to offer legal advice to the US president in his quest to free up billions for a proposed border wall.
When the Fed speaks, markets listen. Federal Reserve chairman Jerome Powell will address The Economic Club of Washington, DC in the afternoon, before vice chair Richard Clarida speaks at New York University later in the evening. Markets rallied last week when Powell said the Fed will be “patient” with rate hikes, so investors may expect more of the same.
Nicolás Maduro is inaugurated. The start of a second term for the president of Venezuela represents a deepening of the South American nation’s isolation (subscription) from the rest of Latin America and the world. Maduro faces a serious humanitarian and economic crisis at home, as well as charges that his re-election was illegitimate.
Shinzo Abe meets Theresa May. Japan’s prime minister visits the UK (subscription) to meet with his counterpart in Westminster, days before the British parliament votes on Brexit. Japan is a big investor in the UK and wants the country not to crash out of the EU in a disorderly fashion.
While you were sleeping
An election winner was announced in the Democratic Republic of Congo. Opposition candidate Felix Tshisekedi was provisionally declared the new president of the African country. His victory could still be challenged, but if things go smoothly it will be the first democratic transition of power since the country gained independence from Belgium in 1960.
Major job cuts in Europe were flagged at Ford and Jaguar. Ford said it will reduce “surplus” labor in Europe, implying thousands of job losses in the region, where it employs 54,000 people and profit dropped by more than 80% last year. Meanwhile, according to Reuters, expected layoffs at Jaguar Land Rover, which employs 40,000 people in the UK, come amid reduced demand in China and a drop in diesel sales.
UK retailers recorded the worst Christmas sales since the global financial crisis. Retail sales in December showed no year-on-year growth, with chains Debenhams and Marks & Spencer among those reporting declines. John Lewis is considering suspending staff bonuses for the first time since the 1950s. Tesco bucked the trend, however, delivering better-than-expected sales over the holiday period.
A German banking startup became Europe’s most valuable fintech firm. A new round of fundraising valued Berlin-based N26 at $2.7 billion, three times what it fetched less than a year ago (subscription). The digital bank plans an “aggressive” expansion in the US this year.
A Korean taxi driver died after self-immolating in protest against ride-sharing. The man set his taxi on fire in central Seoul on Wednesday. He’s the second Korean cab driver to commit suicide in this way to protest plans by tech behemoth Kakao to launch a car-pooling service.
Quartz obsession interlude
The 1MDB heist was one of the largest kleptocracy scandals in history. Complete with heads of governments, leading banks, a 300-foot (91-meter) super-luxury yacht, and Britney Spears jumping out of a cake, it was also one of the most readymade for Hollywood. Read all about it in today’s Quartz Obsession.
Matters of debate
Join the conversation with the new Quartz app!
Don’t reply to every email. It’s more effective to stay in touch with those who matter in your life than to strive for inbox zero.
US Democrats should elevate new candidates. Older white men are still the challengers of choice to Donald Trump.
iMessage should be available on all devices. Apple could put its belief in privacy as a human right into practice by allowing wider use of its proprietary messaging service.
Quartz Membership
What does the future hold for Goldman Sachs? Clues can be found in the bank’s 19 letters to shareholders since it went public in 1999 and in data points like its revenue, number of employees, and stock price over time. Read more of the new Quartz membership report on what’s next for Goldman, which marks its 150th anniversary this year. You can sign up here for a 30-day free trial.
Surprising discoveries
Mona Lisa isn’t looking at you—but at your right ear, or somewhere above your shoulder. German researchers found that the painting’s gaze is 10 degrees off from looking at viewers head on.
Gamblers made $270,000 off Trump’s border-wall address. Those who bet the president’s speech would include 11 falsehoods were rewarded handsomely.
Scientists are creating super healthy, gene-edited spicy tomatoes. The fruit contains nutrients that promote weight loss and provide anti-inflammatory and antioxidant benefits.
Mites that ate llama poop offer clues to the history of the Inca Empire. Scientists are researching llama dung washed into a lake in Peru, where it fed oribatid mites.
Arborists are bringing the “dinosaur of trees” back to life. They’re cloning saplings from the stumps of the world’s largest and longest-lived trees to create redwood “super groves” that can help fight climate change.
Our best wishes for a productive day. Please send any news, comments, Mona Lisa smiles, and political betting tips to hi@qz.com. Join the next chapter of Quartz by downloading our app and becoming a member. Today’s Daily Brief was written by Amanda Shendruk and edited by Jason Karaian.