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What to watch for today
South Korea tries to help the economy. The government, in coordination with the Bank of Korea, will announce measures to assist with the rising costs of raising US dollars. Other actions to address market volatility and the economic fallout from coronavirus are also in the works.
Asia prepares for travel restrictions. Japan will start asking all incoming European travelers to self-quarantine for 14 days and Vietnam will quarantine visitors from the US, Europe, and ASEAN countries, while Singapore scrambles to house Malaysian day workers before the border closes for two weeks. Hong Kong plans to quarantine all foreign visitors starting Thursday, and Indonesia will impose travel restrictions on Friday. Meanwhile, the European Union said Tuesday it would close its borders for 30 days.
Tencent looks for a turnaround. The Chinese tech conglomerate reports 2019 fourth-quarter earnings as it seeks to move past recent disappointing results. BMW and Zara parent Inditex also have investor updates.
While you were sleeping
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The US and UK outlined stimulus actions. Joining a growing list of government bailouts around the globe, US president Donald Trump asked for $850 billion of fiscal stimulus, which could include checks for every American. The Federal Reserve said it would help businesses get up to $1 trillion in short-term funding, while the UK chancellor of the exchequer announced a £330 billion package of government-backed loans and guarantees.
China expelled US journalists. The country’s Ministry of Foreign Affairs ordered American reporters and editors working for the New York Times, the Wall Street Journal, and the Washington Post to hand over their press cards in retaliation for the Trump administration’s decision to limit the number of Chinese citizens who can work in the US for Chinese state media.
The Olympics are still proceeding as planned. After a call with global sports federations Tuesday, the International Olympic Committee said it will make changes to qualifying competitions but still plans for the Games to take place in Tokyo starting July 24. Meanwhile, a member of Japan’s Olympic organizing committee has coronavirus.
The UN suspended refugee resettlement. The decision was prompted by the growing number of travel restrictions and border closures around the world.
Tesla got a big break from China during the coronavirus shutdown. While competitors were shuttered, the US carmaker got 10,000 boxes of masks, high-grade disinfectant, and other supplies that allowed its Shanghai factory to reopen quickly. Tesla is also getting a pass in California, where one of its factories will remain open despite a “shelter in place” order.
Quartz membership
Conception costs. Fertility care provides hopeful parents with a chance of conceiving a child, but it’s mostly limited to the wealthiest people in the world. We trace the paths to fertility and related costs, and the efforts to make treatment less expensive, in our field guide on the business of fertility.
Conception booms. With much of the world on lockdown, we could be looking at a spike in births…but also break-ups.
Quartz daily obsession
Oh snails, snails, snails. They may be dismissed as slimy, slow, and disease-prone, but the little creepers are also associated with luxury, from snail dye to escargot dishes and facials. Inch into the Quartz Daily Obsession.
Matters of debate
Behave like you have coronavirus. Two-thirds of Covid-19 infections could be spread by people who show no symptoms but carry the virus.
The new reality will last a lot longer than you think. Social distancing could come back at regular intervals over the next 18 months.
Show your friends your boring life. Now that social media can’t be about showing off exotic vacations, it’ll be the mundanity that brings us together.
Surprising discoveries
South Koreans are coming to the rescue of the country’s potato farmers. Shoppers have flocked online to buy boxes of spuds.
Locked down Italians are stress eating. Junk food sales are up as boredom sets in.
Chad is repaying a $100 million debt in cattle. The country will send Angola 75,000 cows over 10 years.
Coronavirus is a boon for scientific collaboration. A new Covid-19 Open Research Dataset has made 24,000 papers available in a single place.
Jupiter’s Great Red Spot is not dying. A new study argues that contrary to speculation, the planet’s famous storm is holding steady.
Our best wishes for a productive day. Please send any news, comments, snail facial slime, and cattle-based debt repayments 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 Liz Webber and Susan Howson.