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What to watch for today
Japan’s new emperor ascends to the Chrysanthemum Throne. Naruhito, 59, will take part in an age-old ceremony a day after his 85-year-old father abdicated. The country’s sole female cabinet minister will be the first woman in the modern era to attend (paywall), but Naruhito’s wife was not invited—and many are unhappy with the national 10-day holiday (paywall).
China begins its May Day holiday. Financial markets and most businesses will close for four days (paywall), after the government expanded last year’s three-day break, in a boon to the tourist industry.
Markets watch every word from the Federal Reserve. The US central bank is expected to keep its benchmark interest rate where it is. But analysts are bracing for comments from chairman Jerome Powell, who has been criticized for his “extemporaneous choices of adjectives and adverbs,” which have roiled financial markets.
While you were sleeping
Venezuela’s ruling government accused Juan Guaidó of an attempted coup. The opposition leader appeared at a military base in Caracas alongside his ally Leopoldo López—apparently released from house arrest by sympathetic jailers—and called on the armed forces to join an uprising against president Nicolás Maduro. There were reports of sporadic clashes between Guaidó supporters and the military, with dozens injured.
Apple shares soared on stabilizing China iPhone sales. The results were not pretty—profits and revenues fell, and iPhone sales dropped by 17%, their sharpest decline ever—but executives said price cuts in China led to a pickup toward the end of the quarter, sending shares up more than 10% in after-hours trading.
Facebook tried to erase years of scandals with a shiny new redesign. CEO Mark Zuckerberg unveiled the most drastic revamp to the company’s look since 2011, when it introduced the timeline, with a new Instagram-like aesthetic and focus on events and groups. It also introduced new features that make it easier for users to find new friends—and even romantic partners.
Warren Buffett picked a side in a Big Oil takeover fight. The mogul’s Berkshire Hathaway conglomerate said it would inject $10 billion (paywall) into Occidental Petroleum as it makes a $37 billion hostile bid for Anadarko Petroleum, which is considering whether to drop a lower, agreed-upon offer from Chevron. Berkshire Hathaway will receive preferred stock and warrants in exchange for the cash.
Donald Trump and congressional Democrats pledged to work on a $2 trillion infrastructure deal. Beyond the spending target, nothing has been agreed upon between the president, House speaker Nancy Pelosi, and Senate minority leader Chuck Schumer—including how the government would pay for such a deal. But it represented a rare moment of amity during increasing tension over the Mueller report.
Membership
Silicon Valley’s executives were trying to keep a low profile when Donald Trump arrived in the White House. Since then, employees, customers—and sometimes even their own beliefs—have demanded they take a stand. If you want to follow how Silicon Valley is getting involved in politics, start with these five people.
Quartz Obsession
Ellipses… A symbol that means hesitancy, apprehension, and indecision seems tailor-made for the internet. As instant chat became more popular in the ’90s, designers began to use the ellipsis to indicate another party was typing, which ended up creating anxiety instead of mitigating it. Pause to consider these three little dots in today’s Quartz Obsession.
Matters of debate
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The measles are a harbinger of doom. Governments need to step in before deadlier diseases take advantage of a drop in vaccinations.
China could overtake the US in tech. The country has already shown it can create huge domestic markets for electric vehicles.
Software shouldn’t set your interpersonal boundaries. Building up our own ability to say “no” is crucial to protecting your time.
Surprising discoveries
Mobile phones now outnumber humans. Despite widespread electricity gaps, our devices have taken over.
Fanny packs on Crocs are absurd, but smart. The brand sells more clogs when they market outrageous variations.
The Indian army says it discovered a yeti. Photos of huge footprints on the army’s official Twitter account were met with widespread scorn.
The moon is the child of Earth and a rock named Theia. The Mars-sized body collided with our magma-coated planet, expelling debris that became our lunar sibling.
Aversion to risk may be causing a millennial dry spell. The generation’s aversion to uncertainty may be getting in the way of having sex.
Our best wishes for a productive day. Please send any news, comments, creative clogs, and mythical beasts 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 Adam Pasick and Susan Howson.