Good morning, Quartz readers!
What to watch for today
Facebook and Microsoft earnings. Both companies are expected to show strong reports despite lingering economic worries, while Tesla has been bracing investors for a first-quarter loss. Meanwhile, America’s GDP report, originally scheduled for tomorrow, has been delayed until the Bureau of Economic Analysis catches up from the government shutdown.
The Fed’s high-wire act. Chair Jerome Powell will try to navigate the Federal Reserve’s two-day meeting without causing another market panic or signaling that the agency is preparing America for another recession.
US-China trade talks begin. Donald Trump will meet Chinese vice premier Liu He for a two-day session that likely won’t result in any deals being made—especially with tensions freshly heightened over the US government’s indictment of Huawei.
America suffers a potentially historic, dangerous deep freeze. Much of the nation will see sub-zero temperatures and wind chills, rendering certain regions even colder than Antarctica. The polar vortex (paywall) will force schools and businesses to close throughout the US Midwest, with many flights likely grounded.
While you were sleeping
Apple reported first-quarter earnings. Lowered expectations aside, Apple beat analyst estimates on earnings per share and barely edged over its revenue forecast with $84.3 billion. iPhone sales didn’t measure up, but critical services revenue pulled in $10.9 billion in sales—a 29% increase over last year.
UK lawmakers backed Theresa May’s Brexit amendment. Parliament voted to support renewed negotiations on the Irish backstop, and rejected a no-deal Brexit. European council president Donald Tusk says the EU isn’t having it, and that the existing exit agreement as written will not be changed. Still, May seeks to renegotiate the deal.
US intelligence directly challenged Trump on foreign policy. Dan Coats, director of national intelligence, said that, contrary to what the president says (paywall), North Korea isn’t likely to get rid of its nuclear program, that Iran isn’t working toward making a nuclear bomb, and that the Islamic State remains active in Iraq, Syria, and elsewhere.
Russia accused the US of ulterior motives on Venezuela. Through a spokesman, Vladimir Putin said (paywall) the US is using new oil sanctions to eliminate competition and voiced support for embattled Venezuelan president Nicolás Maduro.
Former Trump adviser Roger Stone pleaded not guilty. As part of special counsel Robert Mueller’s investigation into Russian interference in the 2016 US presidential election, Stone was charged with making false statements, witness tampering, and obstructing an official proceeding. He’s out on bond.
Quartz obsession interlude
Puffer jackets are equal parts luxury symbols and life savers. From “fill power” to brand-name recognition, the winter-guarding garment has evolved several times over the last century. Nowadays, you’re just as likely to see it on a fashion runway as you would in a biting snowstorm. Cozy up with our latest Quartz Obsession to see what makes or breaks these jackets on warmth and style.
Quartz Membership
Could McDonald’s be key to helping the environment? Cattle are the third largest emitter of greenhouse gases. Because of fast food’s reliance on beef, the industry could play a critical role in helping reduce both emissions and use of water worldwide. Today, Quartz looks at the campaign to get six food giants on board as part of a deep dive on the global water crisis.
Matters of debate
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Iran’s planned crackdown on Instagram would be a blow to feminists. Women in the country use the platform to promote their freedom as well as to get informed and connect, so losing the app could well mean losing independence and support.
Your prosecco habit is harming vineyards. The rise in popularity of the white wine is causing soil erosion. So should you cut back?
Our understanding of the fourth industrial era could be all wrong. Living in the period in question means we’re too close to it to get perspective on what it means and how it fits into human history.
Surprising discoveries
Earth is starting to feel more like Mars. Temperatures on the red planet vary widely, and, due to climate change, those on our home planet now do too. One current example: simultaneous lows of -65ºF (-54ºC) in the US and highs of 120°F in Australia.
To work better with your colleagues, get an Xbox. A study found that teams saw a 20% productivity boost after playing a video game together for only 45 minutes.
China’s failure to control methane emissions is not only bad for the climate. It’s also wasting a valuable resource that could be used for heat and electricity.
Japan is planning a massive hack in the name of cybersecurity. It plans to access connected devices in millions of homes and offices to expose weaknesses in the internet of things.
Tesla’s local police department just bought a used Model S. Fremont PD spent over $61,000 to get the first all-electric patrol car in America.
Our best wishes for a productive day. Please send any news, comments, Italian white wine, and Tesla cop cars to hi@qz.com. Join the next chapter of Quartz by downloading our app and becoming a member. Today’s Daily Brief was written and edited by McKinley Noble and Holly Ojalvo.