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What to watch for today
Democrats hold a final debate before the Iowa caucuses. The six top candidates will take the stage at 9pm ET on CNN, with Joe Biden and Bernie Sanders in the center because they topped an average of polls released in January.
Boeing releases catastrophic numbers. The world’s top airplane maker is expected to announce a fall in orders and deliveries in 2019, following the Max 737 crisis and the subsequent demise of its CEO. Boeing could lose its position to Airbus, giving its new boss a mountain to climb.
The US bank earnings week begins. Citigroup, JPMorgan, and Wells Fargo report fourth-quarter results today, and Bank of America, Goldman Sachs, and Morgan Stanley report later this week. Analysts expect an aggregate drop in profit, or as the Wall Street Journal put it, numbers will be more “blah.”
While you were sleeping
Muji shares fell 19% after it posted bad results. The owner of the Japanese retailer disappointed investors with a lower quarterly profit than expected. It also lowered its full-year profit forecast. The company is now planning to reduce store openings in Asia.
Iran arrested suspects in the downing of the Ukrainian airplane. A spokesperson announced the detention of “some individuals” after “extensive investigations,” without giving more details. Iran had initially denied shooting down the aircraft.
China’s carmakers had a second consecutive year of poor sales. The trade association said sales fell more than 8% in 2019, compared to the year before, when sales had dropped for the first time in almost three decades.
The UK considered extreme measures to save a failing airline. The government is thinking about cutting air passenger taxes on all domestic flights to help Flybe, an airline that operates about two of every five flights in the country. A year ago, a consortium led by Virgin Atlantic saved Flybe from collapse.
Bang & Olufsen sales fell by nearly a third. The high-end Danish electronics brand reported a loss of $6.7 million for the quarter. The company is suffering from a consumer shift towards more portable devices and accessories.
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The Big Four accounting firms now get the majority of their revenue from consulting, not their core auditing businesses. But can an auditor remain independent when it’s competing for lucrative consulting contracts? Discover what can go wrong in this week’s field guide.
Quartz daily obsession
Are you doing something else while you’re reading this? Researchers say that’s a bad idea. Even though many of us believe we’re exceptional multitaskers, only a fraction of us can actually do two things at once without bungling them both. Focus for a moment with the Quartz Daily Obsession.
Matters of debate
Netflix dominates the Oscars. The shift in power is clear at a studio level, but individual awards are still dominated by the usual suspects.
China blames everyone else for Taiwan’s presidential election result. Beijing’s strategy towards the territory isn’t working, but it just doesn’t want to hear about it.
It’s hard for prominent Indians to criticize Modi’s government. Microsoft CEO Satya Nadella, born and raised in India, has been branded “anti-national” there for his comments about immigration.
Surprising discoveries
Go to a concert on your own. Hip-hop and K-pop gigs sell the most single tickets, so you wouldn’t actually be alone.
Nitrous oxide is nearly 300 times stronger than carbon dioxide at trapping heat. Our maps show the worst emissions of this potent greenhouse gas.
Researchers are trying to preserve smells. Olfactory archivists say they’re an important part of our cultural heritage.
The British government secretly funded Reuters during the Cold War. An anti-Soviet propaganda unit paid the wire agency to expand its Middle East and Latin America coverage.
The oldest material on Earth has been found in a meteorite. It contains stardust that formed between five to seven billion years ago.
Our best wishes for a productive day. Please send any news, comments, stardust, and anti-propaganda funds 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 Luiz Romero and Hasit Shah.