Good morning, Quartz readers!
Here’s what you need to know
Google is closing in on a $2 trillion market cap. Innovations in AI have sent the company’s stock up more than 15% over the past year.
Novartis wants to buy a German cancer drugmaker. In the same breath, the company said it’s also slowing trials of its own blockbuster cancer drug and slashing hundreds of jobs.
Moderna paused its plans to build an mRNA plant in Kenya. Demand for the jabs has fallen sharply in Africa, so the pharmaceutical giant is trying to cut costs where it can.
Chinese automaker Chery is starting to make cars in Spain. The move is part of a plan to launch three brands in Europe, with three new models apiece within the next two years.
A Modi-Musk meeting is on the books
Speculation is swirling that Tesla may be making an investment in the world’s most populated country, India, as its CEO Elon Musk readies a trip to talk one on one with Prime Minister Narendra Modi on April 22.
There’s a big reason why a Tesla presence in India is more likely than ever. Tesla has been lobbying New Delhi to lower import taxes on EVs for years, and finally got some leeway last month when the government reduced import levies on select EVs made by automakers under certain conditions.
But how big of a potential investment are we actually talking, and what can their first such get-together — way back in 2015! — tell us about what’s to come? Here’s what you need to know about the meeting.
Quotable: Trouble in Paramount
“If the Apollo deal is worth $21 a share, and if Skydance is getting this business from the regular shareholders at $11 a share, they’re basically stealing the company and all these extras don’t amount to anything.” — David Katz, chief investment officer of Matrix Assets Advisors, which owns more than 355,000 Paramount shares.
Matrix is distressed over reports that Paramount is considering what it deems a “sub-optimal” bid from Skydance. And that’s not the only colorful outrage shareholders have shared.
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Surprising discoveries
David Chang has started a chili crunch war. His restaurant company Momofuku has been trying to trademark the condiment with a cease-and-desist twist.
Writers from the shuttered publication DCist want to start a new news outlet and are asking for help naming it. WashRag has our vote.
Active drug shortages are at a record high this year. There are a staggering 323 medications in short supply in the U.S.
There’s a new best time of day to exercise. It’s exhausting keeping up with this stuff, but if you’re one of those who likes to: it’s evening.
A West Virginia parks cam caught footage of a “species of concern.” Don’t worry — it was just an endangered woodrat that likes to collect shiny things.
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Our best wishes for a productive day. Send any news, comments, chili crunch recipes, and things to give a woodrat to talk@qz.com. Today’s Daily Brief was brought to you by Morgan Haefner and Susan Howson.