Netflix earnings, tax politics, Portuguese pastries

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What to watch for today

Egypt’s parliament votes to extend presidential term limits. Under the proposed changes, Abdel Fattah al-Sisi will be able to seek two new six-year terms starting in 2022, and the military will receive expanded powers to intervene in civil matters.

The US and Israel hold a meeting on counterterrorism. Delegations will convene in Jerusalem for the annual event, which is the US State Department’s longest-running dialogue on counterterrorism.

Netflix releases first-quarter results. With stiff competition from the likes of Amazon and Hulu and two new formidable challengers nipping at its heels (Apple and Disney), the video streaming platform can’t afford to show signs of weakness.

More earnings from blue chip companies. IBM is expected to post flat earnings, with the first quarter a typically weak one for the tech giant. Meanwhile, Bank of America is forecast to report a small rise in earnings over last year, and investors will be looking at the effect of product liability issues on Johnson & Johnson’s bottom line.

While you were sleeping

The Notre Dame cathedral fire was brought under control. The blaze, possibly ignited during restoration work, caused the 850-year-old Gothic building’s spire and roof to collapse. French president Emmanuel Macron has vowed to rebuild the church, with two of France’s wealthiest families pledging €300 million ($339 million) for the task.

Bernie Sanders released his tax returns. The Vermont senator released a decade of tax returns, which showed the democratic socialist becoming a millionaire after penning a best-selling book. Meanwhile, House Democrats subpoenaed several banks as part of an investigation into Donald Trump’s personal finances.

A US museum canceled a gala honoring Brazil’s president. The American Natural History Museum announced that it would no longer host a black-tie event that would have honored Jair Bolsonaro, a rightwing populist who has rolled back environmental and Amazon rainforest protections.

Foxconn’s chairman pivoted to politics. Taiwan’s richest person, Terry Gou, is considering a run for the presidency in 2020. He said earlier this week he would step back from daily responsibilities at the world’s largest contract manufacturing company.

Ecuador has been hit by 40 million cyber attacks since Julian Assange’s arrest. Attacks on webpages of public institutions began after the Wikileaks founder was stripped of political asylum and expelled from the Ecuadorian embassy in London last Thursday, according to Ecuador’s deputy minister for information and communication technologies.

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Senator Sheldon Whitehouse is bent on stamping out hidden money in the US. In today’s Q&A, reporter Max de Haldevang speaks with the man who doesn’t mess around. And in Private Key, we have a look at how one of the biggest VC firms in the world, Andreessen Horowitz, has approached investing in cryptocurrencies.

Matters of debate

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12-hour days are not a blessing. We should ignore Alibaba founder Jack Ma’s worship of the “996” lifestyle.

English is one of the world’s weirdest languages. It sounds strange and has odd grammar.

The US and China treat Latin America like a playground. Diplomats are trading barbs about which nation interferes most in countries like Venezuela.

Surprising discoveries

Science clickbait is being roasted on Twitter. A Boston-based researcher is using @justsaysinmice to shame coverage that conflates rodent research with implications for humans.

A humble Portuguese pastry is a global sensation. Crafty marketing and some subtle government backing (paywall) have made the pastel de nata an Instagrammable hit.

Big Weed pays big taxes. Uncle Sam took a $4.7 billion cut out of $13 billion in revenue in 2017, with many businesses paying in cash.

Yangtze turtles are nearly extinct. The death of the softshell species’ last-known female cuts the population down to three.

Private jets in India are booked up for political campaigning. The country’s vast election is being fought in the skies (paywall), where Narendra Modi has the upper hand.

Our best wishes for a productive day. Please send any news, comments, sound scientific research, and photogenic pastries to 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.