Good morning, Quartz readers!
Here’s what you need to know
Apple won’t back off on stock buybacks. The tech giant authorized another $90 billion in share buybacks this year, flexing its financial muscle in the face of declining revenue.
HSBC shareholders will share their two cents about restructuring. A potential spinoff of the British lender’s Asia business is on the table, and one activist investor in particular is being very, very vocal about it all.
China says its domestic tourism packed an extra bag. Tourists made 274 million trips throughout mainland China over the May Day holiday break, its travel ministry said, up 19% over the same period in 2019.
French oil giant Total is getting petty. In a lawsuit against Greenpeace France and climate consulting company Factor-X, Total sought $1.10 in damages over a report that claimed it significantly underestimated emissions.
Tesla, on the other hand, is finally disclosing the full extent of its carbon emissions. For the first time, the EV maker is accounting for some of the impact its supply chain is having on the climate.
Indian media companies are hurting. A global downturn in advertising revenues has squeezed the quarterly profits of flagships such as Hindustan Times, New Delhi Television, and Zee.
What to expect from the coronation of King Charles III
11:00: Time the coronation service begins on May 6, British Summer Time
2,000+: Estimated number of guests attending the coronation
£100 million ($125 million): The estimated coronation price tag
Quartz reporter Julia Malleck found four other big numbers to know about the coronation, including how much the Stone of Scone weighs (that’s a real thing), and the number of individually-wrapped chocolates used to create a lifesize King Charles III sculpture.
How to drink mezcal sustainably
For decades now on Cinco de Mayo, Americans have consumed thousands of liters of tequila and Mexican beer—sometimes more, in fact, than they do on Super Bowl Sunday. The holiday, which was never a major Mexican celebration to begin with, has been crafted by American party and liquor companies into an occasion for celebratory drinking.
But increasingly, mezcal has joined tequila as the Mexican spirit of choice, and all that demand has wiped out wild agaves (article also in Spanish). But there’s a way to enjoy the spirit more sustainably, and Quartz’s global news editor Samanth Subramanian has your how-to guide.
Quartz most popular
🚀 How much more money can SpaceX spend on Starship?
😲 Once valued at $5.7 billion, Vice may now be headed for bankruptcy
🪙 Balaji Srinivasan lost $1 million in a bizarre bitcoin bet
🤥 The Murdoch media empire has been lying in Australia as well
🎈 Private satellites spotted a new Chinese military blimp
🤑 Activist investor Carl Icahn is Hindenburg Research’s latest short-selling target
Selfie stupidity at Yosemite isn’t a new phenomenon. As far back as 1890, photo-chasers were balancing on one leg at the cliff’s edge, and even rolling up a car to the mouth of a 3,000-foot-drop.
Climate change means fewer chicks. The worrying trend is particularly affecting birds that migrate.
In the US, there are more Subway stores than Starbucks. Is it any surprise then that the banking sector’s white knight is also helping out the country’s largest restaurant chain?
Indian jewelry is getting less shiny. But moving away from gold and silver is all in the name of sustainability.
Grapefruits aren’t natural. They’re bred, and they were showcased at the World’s Fair as a food invention. Hear what other foods were invented and flaunted at the global exhibition in the latest episode of the Quartz Obsession podcast.
🎪 Subscribe today, wherever you get your podcasts: Apple Podcasts | Spotify | Google | Stitcher | YouTube
Our best wishes for a productive day. Send any news, comments, sub sandwiches, and palomas to email@example.com. Reader support makes Quartz available to all—become a member. Today’s Daily Brief was brought to you by Morgan Haefner.