🌏 Too little inflation

Plus: Apple’s tart on shareholder proposals
A man walks through the courtyard of an empty shopping mall in Beijing, China.
A man walks through the courtyard of an empty shopping mall in Beijing, China.
Photo: Lintao Zhang (Getty Images)

Good morning, Quartz readers!

Here’s what you need to know

China is struggling with too little inflation. As it emerges from its zero-covid economy, the country is facing the opposite problem of most everyone else.

Heineken got the regulatory green light to buy Distell. The Dutch brewing company will purchase South Africa’s largest wine exporter for €2.4 billion ($2.5 billion).

Australia’s Hillsong megachurch was accused of misusing funds. A parliament member claimed leaked documents show the church made $53 million more than it reported.

Japan’s largest trade union struck a wage deal. Umbrella group UA Zensen, representing 240,000 workers, secured sizable pay hikes amid high inflation.

What to watch for

An activist investor plans to challenge Apple’s racial and gender pay gap reporting at the Cupertino company’s annual general meeting, a virtual gathering scheduled for today (March 10).

Apple thinks it’s already doing enough and has called on shareholders to vote against the proposal—in fact, Apple is urging shareholders to vote against all proposals. Ananya Bhattacharya looks at what’s on the table, and who objects to Al Gore’s board seat.

Image for article titled 🌏 Too little inflation
Graphic: Ananya Bhattacharya

It’s already way too hot in India

Pop quiz: India just witnessed its hottest February in…

A. 2 years
B. 40 years
C. 93 years
D. 122 years

Find the answer in Niharika Sharma’s Quartz story, which also explains why a hot February is sparking fears of widespread power cuts this summer.

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Correction: Yesterday’s email incorrectly said that Sen. Bernie Sanders subpoenaed Starbucks CEO Howard Schultz. Sanders only threatened to subpoena Schultz.

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