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What to watch for today
The US releases its fourth-quarter GDP figures. Economists expect fairly stable growth, in line with the last quarter’s 2.1%. Yesterday, the Commerce Department reported that the US goods trade deficit rose sharply in December.
Amazon and Coca Cola post their quarterly results. The e-commerce giant’s investors will be hoping for better news than in the previous quarter, when it fell short of expectations, while the drinks company expects another strong, perhaps even caffeinated, performance.
The World Health Organisation holds another emergency coronavirus meeting. The UN body is still deciding whether to declare the outbreak a global emergency. It had previously classified the risk as “moderate.”
While you were sleeping
Deutsche Bank reported a fifth-straight annual loss. Germany’s biggest bank lost €1.6 billion ($1.8 billion) in the fourth quarter, far more than some analysts expected, and recorded a €5.7 billion loss for the year. DB plans to halve 2019 bonuses for board members, and delay salary raises for employees.
H&M announced a change at the top… Karl-Johan Persson, one of the Swedish company’s founding family members, is stepping down as CEO, and replacing his father as chairman. Helena Helmersson becomes the new chief executive. The fast-fashion retailer delivered its first annual rise in profit since 2015.
… as did Jaguar Land Rover. German Ralf Speth, originally an engineer, will stand down in September after ten years in charge. He remains involved in the business as a vice-chairman. The company returned to profit last year after Speth implemented a major cost-cutting strategy.
Evacuations of foreign-nationals from Wuhan continued. But 200 Brits were unable to take off as planned today, while Australians and New Zealanders can look forward to quarantine in island detention centers. Meanwhile, new cases have been confirmed in Japan, India, and the Philippines.
Japan issued more arrest warrants in the Ghosn case. There was a fresh one for Ghosn himself, along with warrants for three men thought to have helped smuggle him out of Japan in late December.
Quartz Membership
“If you had to describe the state of the economy in an emoji, it’d be: 🤷,” writes Quartz’s Walter Frick. Uncertainty is everywhere. From US-Iran relations to an ongoing Brexit, Quartz breaks down which global disputes could bring down global markets.
Quartz Daily Obsession
The sea-unicorn was an unlikely discovery. Narwhals, found in 1577 during an explorer’s expedition, have a protrusion that can grow up to 10 feet long. It’s actually a tooth, and it can sense changes in water pressure, temperature, and salinity. Narwhals also use their giant tusks to hunt prey, of course. Take a swim with the Quartz Daily Obsession.
Matters of debate
Midi 2.0 could profoundly change the way music sounds. The original was launched in 1983, and has had a huge influence on what we listen to.
The Super Bowl is one of TV’s last weapons against streaming. Until live sports move over to the new services, they can help sustain regular broadcasting.
Private messaging is the future of Facebook. The iconic blue News Feed is not drawing as many eyeballs as it used to.
Surprising discoveries
China is building a hospital for coronavirus patients extraordinarily fast. It broke ground on Jan. 24, and is scheduled to be operational on Feb. 3.
No US city fines people like Washington fines people. Residents in DC fork out an average of $261 each, way more than in any other place.
Tesla is becoming the cheaper electric car. Its luxury rivals are still too expensive, while the entry-level competitors aren’t attractive enough.
Russian bots and trolls are successful because we know about them. They can now achieve their goal of chaos and disorder without doing much at all.
Trump coins are advertised all over Facebook and Google. It’s not clear exactly what’s going on.
Our best wishes for a productive day. Please send any news, comments, petty fines, and unemployed CEOs 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 Ali Griswold and Hasit Shah.