Good morning, Quartz readers!
What to watch for today
Theresa May’s cabinet makes a key Brexit decision. Senior UK officials will decide whether parliament can cast non-binding indicative votes on options ahead of the prime minister’s European Union Withdrawal Agreement Bill, which is scheduled to be put forward on June 3.
Malawi holds elections. The country’s electoral commission expects a high turnout for sweeping elections that will determine the next president as well as members of both parliament and local government councils.
Major retailers kick off a big earnings week. Hardware giant Home Depot reports fourth-quarter earnings, alongside AutoZone, JCPenney, Urban Outfitters, and Nordstrom. Clothing retailer Kohl’s will also be reporting quarterly numbers, after announcing an expanded partnership with Amazon.
While you were sleeping
The T-Mobile-Sprint merger got a thumbs up from the FCC. Federal Communications Commission chief Ajit Pai said he would back the $26 billion mobile carrier deal (paywall), pending several key concessions. The merger still faces some possible antitrust obstacles, but shares of both companies rose on the news.
Ford slashed 7,000 jobs. The restructuring, which amounts to a 10% cut of the automaker’s workforce (paywall), is an attempt to eliminate bureaucratic redundancies and streamline operations to save $600 million each year, the company said in a statement.
Donald Trump said he doesn’t need banks. After a New York Times report on Sunday claimed that Deutsche Bank employees flagged shady dealings by Trump-controlled entities, and that other banks refused to work with his private businesses, the US president defended himself, saying that he simply didn’t require help from financial institutions.
Instagram influencers suffered a data breach. Phone numbers and other personal information from more than 49 million celebrity, influencer, and brand accounts was found to have been exposed without even a password in place. The breach was traced to Chtrbox, a Mumbai-based social media marketing firm account-holders claim they never worked with.
Oil gushed sky-high. An OPEC decision to continue with production cuts combined with deepening tension in the Middle East helped boost oil prices to their highest in weeks. The market corrected itself slightly later in the day.
Quartz Obsession
Relativity is how we understand the universe… to a point. In 1905, Albert Einstein demonstrated the relativity of time. A decade later, he showed us how time and space are one. His findings illuminate black holes and the big bang, and they keep the maps on our phones accurate, but they don’t explain quantum mechanics—in fact, they conflict with the fuzzy foundations of matter. Get a good frame of reference at the Quartz Obsession.
Membership
A guide to the new rules of management. While company cultures may still vary wildly by employer, new technology over the past two decades has bent the arc of the modern workplace toward transparency, collaboration, and a democratization of ideas. This week we dive into the new expectations of workplace leaders, including what every manager should know about giving feedback.
Matters of debate
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IPOs flop because nobody’s making money. Industry disruptors like Uber and Lyft are exciting to watch, but have no clear path to profitability.
Want to feel better? Get a haircut. Spending time on self-care could provide the confidence boost you need to break out of a rut.
Splashy philanthropy distracts us from systemic problems. Billionaires may occasionally volunteer to pay off student debt, but their businesses still exacerbate inequality.
Surprising discoveries
An AOC-Wonder Woman crossover met a villainous foe. DC Comics issued a cease and desist letter after a comic book cover came a little too close to the company’s intellectual property.
US millennials are worse off than every living generation. They have less wealth and property—and fewer spouses and children—than any group born since the Great Depression (paywall).
Green jobs pay well. Most US jobs related to environmental protection pay better than the national median.
Bonobo mothers are nature’s best wingmen. The monkey moms help their sons find sexual partners and ward off competitors.
Google developed an AI radiologist. The machine detected lung cancer in CT scans more accurately than six human doctors.
Our best wishes for a productive day. Please send any news, comments, rogue comic covers, and wingmoms 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 Susan Howson and Nicolas Rivero.