Good morning, Quartz readers!
What to watch for today
Big banks kick off earnings season. JPMorgan, Goldman Sachs, Wells Fargo, and Citigroup all report their latest quarterly earnings, which are expected to be soft. Investors will look for clues about profit prospects in 2020, as some worry that market expectations may be too optimistic.
The IMF adds fuel to recession fears. The organization is expected to cut its global growth forecast for 2019 at its annual meeting, lowering the already-modest estimate of 3.2%. The IMF’s recently appointed chief, Kristina Georgieva, warned in her first big speech a week ago that the global economy is in a “synchronized slowdown.”
Mozambique holds tense elections. President Filipe Nyusi and his Frelimo party will likely hold on to power, but opposition leader Ossufo Momade is favored to win a key governorship and become the first provincial official from a party other than Frelimo. Observers worry violence could taint the results.
US Democrats take to the stage in Ohio. Twelve presidential candidates are heading to the podiums for the fourth debate of the campaign, and the first since the start of a House impeachment inquiry of Donald Trump.
While you were sleeping
The US hit Turkey with sanctions and tariffs. In response to Turkey’s deadly incursion into northeastern Syria, Trump imposed sanctions on Turkish officials and increased tariffs on Turkish steel of up to 50%. He also put discussions over a $100 billion trade deal on hold.
WeWork could strike a deal with JPMorgan. Bloomberg reported that the embattled office-sharing giant could choose a high-risk $5 billion debt package led by the investment bank over a bailout by Japan’s SoftBank, in order to avoid diluting the stakes of top private shareholders.
LeBron James waded into the China-NBA spat. The Lakers player said upon his return (paywall) to Los Angeles from China that Houston Rockets manager Daryl Morey “wasn’t educated about the situation” when he tweeted his support for the Hong Kong protests, setting off a backlash in China. James’ comments could reignite blowback in the US against the NBA, shortly after China tried to de-escalate tensions.
The Booker Prize was awarded. For the first time in more than 25 years, the prestigious literary award will be shared—by British author Bernardine Evaristo’s Girl, Woman, Other and Canadian novelist Margaret Atwood’s The Testaments. Evaristo is the first black woman to win the award.
London police banned Extinction Rebellion protests in the city. The Metropolitan police also moved to clear protesters from their main camp in Trafalgar Square, hours after dozens of protesters were arrested for blocking traffic. Protesters said the ban was an infringement on their right to protest.
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Apple’s iPhone sales may be stagnating, but the company has some bold new plans up its sleeve. This week’s field guide offers deep dives into two areas where Apple is betting big: Ananya Bhattacharya explores the strategies that Apple is using to make inroads in India’s Android-dominated smartphone market, while Adam Epstein unpacks the Cupertino giant’s plan to take on Netflix with the Apple+ streaming service, set to debut next month.
Matters of debate
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Jetsetters should pay more to fly. Frequent flyers should be penalized, not rewarded.
Investors are tired of founder-gurus. The recent string of high-profile CEO departures shows that patience with the leaders of big, buzzy, controversial startups is wearing thin.
“Break up Big Tech” is starting to sound tired. Political leaders must think beyond yesterday’s solutions to rein in Silicon Valley’s giants.
Surprising discoveries
Cows need friends to be happy. Research shows that bovines form close individual bonds—but large dairy farms often split up pals.
The world’s first novel has a new chapter. A manuscript of the 11th-century text The Tale of Genji, discovered in a Tokyo family home, includes a missing portion of the epic tale.
A new California law says schools can’t start earlier than 8am. Proponents say the new rule will improve sleep-deprived teens’ physical and mental health—not to mention their grades.
There’s a term for the aesthetic of brands like Glossier and Reformation. Researchers describe the slightly imperfect, Instagram-friendly marketing as “aspirational realness.”
Africa has the fastest-growing number of people immigrating to the US. The ranks of African migrants grew almost 50% from 2010 to 2018.
Our best wishes for a productive day. Please send any news, comments, friendly cows, and lost manuscripts 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 Isabella Steger and edited by Tripti Lahiri.