Good morning, Quartz readers!
What to watch for today and over the weekend
Xi Jinping recognizes Macau’s handover anniversary. The Chinese leader is attending a celebration to mark 20 years since the territory’s handover from Portugal in 1999. Xi is also using the three-day visit to herald the region as a financial hub, in what is seen as a rebuke to protest-laden Hong Kong.
Uzbekistan holds parliamentary elections. Fresh off being named 2019’s most improved country by The Economist, Central Asia’s most populous nation heads to the polls. However, this election poses little opportunity for political change as no opposition parties have registered to face off against president Shavkat Mirziyoyev.
The EU Withdrawal Bill heads to the UK parliament. Prime minister Boris Johnson is introducing an updated framework for leaving the European Union with a preliminary vote in parliament expected later today.
While you were sleeping
US markets continued to rise on positive China trade news. Treasury secretary Steven Mnuchin said an agreement has been put on paper, sending US stocks to record levels. On the security front, the two countries expressed a renewed commitment to coordinate on North Korea.
Goldman Sachs may pay $2 billion over the Malaysian financial scandal. The Wall Street bank is close to admitting guilt and settling over its role in the 1MDB corruption saga. The US Justice Department agreement may also require the installation of an independent oversight monitor.
Developing country debt reaches $55 trillion. The World Bank reports that emerging countries’ borrowing hit a record level last year, continuing a growth spell the bank called the “largest, fastest and most broad-based in nearly five decades.”
The US military was tricked into buying “American-made” equipment from China. A military contractor sold Chinese gear to the US government while falsely claiming they were made in America, according to a criminal complaint obtained by Quartz.
Apple explored acquiring James Bond and live sports rights. The Wall Street Journal reported that Apple held preliminary talks with MGM and the Pac-12 collegiate sports conference to increase its Apple TV+ offerings. Also in the streaming space, TiVo and entertainment tech firm Xperi announced a $3 billion merger.
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Quartz obsession
Speed reading can help you breeze through lengthy tomes—or can it? Despite the many pricey classes promising faster reading skills, scientists have argued for decades that people aren’t capable of reading thousands of words per minute without missing details. But some researchers say it is possible to read much faster than the average person—it just takes practice. Take a close read of the Quartz Obsession.
Matters of debate
Don’t buy a 5G smartphone yet. 5G networks are popping up left and right but they haven’t reached a key maturity level for it to make sense for users.
Pop culture conceals how hard it still is to be a working mom. Portrayals of thriving mothers don’t give an honest picture.
The corporate obsession with speed is a problem. Businesses fetishize saving time, even though it can lead to bad design and costly errors.
Surprising discoveries
Chinese banks are offering pork rewards to lure customers. An African swine fever epidemic has sent the price of the country’s favorite meat soaring.
The “world’s most powerful” passport isn’t all that popular. Japan’s is the easiest to travel with—but three-quarters of its people don’t have one.
There’s a reason gift-giving has become more practical. Blame the Society for the Prevention of Useless Gifts for that annoyingly useful present.
LCD screens are leaky. Scientists say the LCD screens found on smartphones and TVs are exposing us to toxic chemicals.
Wakanda was a free trade partner of the US—for a bit. The US department of agriculture used the fictional region from Black Panther to test a website function.
Our best wishes for a productive day. Please send any news, comments, impractical presents, and Wakandan trade deals to hi@qz.com. Get the most out of Quartz by downloading our app on iOS or Android, and becoming a member. Today’s Daily Brief was brought to you by Patrick deHahn and Max Lockie.