Good morning, Quartz readers!
Here’s what you need to know
The US gave TikTok an ultimatum. China-based parent company ByteDance must sell TikTok or face a ban.
Credit Suisse got a financial lifeline... The Swiss central bank offered financial support after the bank’s shares hit an all-time low amid the fallout of two US bank closures.
…and so did Nigerian startups. Nigeria has launched a $672 million fund to support its tech startups after the collapse of major US lenders.
Toys “R” Us has shut down one of its India stores 24 hours after it opened. The American toy giant’s re-entry into the country hit a snag in the form of a non-compete clause.
Ryan Reynolds on T-Mobile vs. his mom
“We are so happy T-Mobile beat out an aggressive last-minute bid from my mom Tammy Reynolds as we believe the excellence of their 5G network will provide a better strategic fit than my mom’s slightly above-average mahjong skills.”
— Ryan Reynolds, Mint Mobile minority owner, in a statement announcing the $1.35 billion sale that will give T-Mobile more access to low-income customers
FedEx in one big number
$22.8 billion: Amount that global shipping giant FedEx is expected to report tomorrow (March 16) as its third-quarter revenue, down 3.6% from last year’s numbers.
Many look to FedEx as a bellwether of the global economy, so, fair warning, there might be a lot of 😬 around the office. Quartz’s Julia Malleck rounds up a report card.
The Federal Reserve is getting egged
Speaking of bellwethers, eggs have hatched into a rather surprising indicator of consumer prices in the US. Quartz’s Nate DiCamillo asks how companies paying 41.3% less for eggs last month than they did in January will scramble the Fed’s rate-hiking regime.
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