Good morning, Quartz readers!
What to watch for today
Xi Jinping begins a controversial European tour… The Chinese president is expected to sign up Italy for China’s trillion-dollar Belt and Road infrastructure project, despite warnings from Rome’s NATO allies that it will strengthen Beijing’s hand.
…while EU leaders meet in Brussels. They will coordinate positions on a series of issues related to China’s growing influence in Europe. Oh, and there’s the small matter of what to do about UK prime minister Theresa May’s request for a three-month Brexit delay.
A blue-chip, blue-jeans IPO. Denim icon Levi’s is expected to achieve a valuation of $5.8 billion while raising $550 million (paywall), the bulk of which will go to the descendants of founder Levi Strauss.
Nike swooshes up. The world’s largest athletic gear maker is expected to post a decent bump in quarterly profit, continuing a run of good news that has pushed its stock up by more than 30% over the past year. Rival Adidas, meanwhile, has been grappling with supply-chain issues.
While you were sleeping
New Zealand banned all assault rifles. Prime minister Jacinda Ardern announced a ban on all military-style semi-automatic weapons, assault rifles, and high-capacity magazines, less than a week after terrorist attacks at two Christchurch mosques killed 50 people. Legislation is expected to be enacted by April 11.
A populist party made big gains in Dutch elections. An exit poll showed that an anti-EU upstart, Forum for Democracy, siphoned support from prime minister Mark Rutte’s four-party coalition, which lost its senate majority.
US-China trade talks are set to kick off, again. US trade representative Robert Lighthizer and treasury secretary Steve Mnuchin are set to land in China on March 28 for two days of talks. The news comes a day after Donald Trump said US tariffs on Chinese goods could persist ”for a substantial period of time.”
Uber Eats got a not-so-new-rival. The ride-sharing service Bolt, formerly known as Taxify, is laying the groundwork (paywall) to expand into food delivery. The Estonian-headquartered company is looking to fill a gap in parts of eastern Europe and Africa that Uber does not serve.
Training concerns were revealed over the fatal Ethiopian Airlines crash. The airline was one of the first to set up a flight simulator for the Boeing 737 Max, but the New York Times reports (paywall) the pilot of the flight 302 crash earlier this month never trained on it. Boeing said seasoned pilots needed minimal training on the new aircraft, a claim regulators are investigating.
Quartz Obsession
Hedge funds: Capping off a decade of lackluster performance, the industry lost $88 billion in 2018. So why do the ultra-rich and endowed institutions keep investing in them? Hedge your bets with today’s Quartz Obsession, and beware our 2 and 20 fees.
Membership
Corporate boards: Not the dream gig it once was. Though still a highly coveted, prestigious, high-paying job, being a board member today also comes with enough headaches and risk that it is worth thinking twice about whether you actually want the position. We also run down the various ways regulators are cracking down on crypto speculation, in Private Key.
Matters of debate
Join the conversation with the new Quartz app!
The best social network is… the email newsletter. It provides an outlet for expression and a mode of connection without bots or trolls.
The college application process is a test of ethics. Many parents are failing it.
The world needs genderless voice assistants. Unlike Alexa or Siri, the voice of the new Q is intentionally neither female nor male.
Surprising discoveries
Smoking potent weed is linked to psychosis. A new UK study also warns that daily use makes mental illness more likely.
A drone remedy for smog. For cities exposed to high levels of pollution, drones that dispense water might provide respite.
A giant sunfish washed up on a beach in Australia. The giant, odd-looking fish—first mistaken for a piece of driftwood—has gone viral.
Texas legalized lemonade stands. Food regulators had banned the stands, often run by children, over health concerns.
A new postpartum depression treatment costs $34,000. It also requires (paywall) staying in a medical center for a 60-hour IV infusion.
Our best wishes for a productive day. Please send any news, comments, regulated lemonade, and misty drones 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 Adam Rasmi and edited by Jason Karaian.