In This Story
Good morning, Quartz readers!
Here’s what you need to know
Nvidia (NVDA+3.31%) hits back at Biden’s new AI chip controls. The chipmaker criticized the “country cap” policy, warning it could push global markets toward alternative tech.
U.S. job growth surged past expectations to close out 2024. The Federal Reserve, however, anticipates a rise in inflation and a dip in employment this year.
Delta’s (DAL-1.64%) stock surged after its CEO said 2025 would be historic. Ed Bastian expects booming travel demand to drive the airline to its strongest financial performance ever.
Trump’s tariff plan fueled a surge in imports, despite a port-strike resolution. Retailers rushed to beat potential tariff increases, but the long-term effects remain unclear.
Sonic is up next in the value wars, joining McDonald’s (MCD+0.04%), Starbucks (SBUX+0.03%), and others. The chain is offering a mix of price points and food options throughout the month of January.
The RTO battle
Office vacancy rates in major U.S. metro areas hit a record 20.4% in the fourth quarter of last year, up from 19.6% the previous year, according to financial firm Moody’s (MCO+1.81%).
Moody’s attributes this ongoing shift to the widespread adoption of hybrid and remote work, signaling a long-term decline in office space demand. Offices designed for collaboration have fared better, as businesses reconsider the need for traditional cubicles.
Still, companies including Amazon (AMZN+2.46%), AT&T (T+0.73%), and JPMorgan Chase (JPM+2.26%) are pushing employees to return to the office. But what’s behind these major firms mandating in-person work? Quartz’s Bruce Gil has the details.
The hottest housing markets of 2025
The housing market will remain tough for buyers, as high prices and limited supply continue to fuel competition, leaving many cities stuck in a “seller’s market,” where demand outpaces available properties.
With mortgage rates and home prices expected to stay high, many buyers may struggle to find affordable options. That said, Realtor.com predicts the market could shift toward a more even playing field this year.
Zillow (ZG+4.85%) has ranked cities based on home prices and job growth to help buyers see where competition will be the fiercest. Which ten markets made the list? Quartz’s Roccio Fabbro has more.
More from Quartz
👷 Wayfair eyes physical retail as it slashes over 700 jobs
💼 Trump’s rhetoric forces investors to wonder what’s real policy, strategist says
🎢 The Dow plunges 600 points as a strong jobs report and inflation fears crush rate-cut hopes
🛠️ What can blockchain do beyond crypto?
🥶 The best ways to save money on energy bills this winter
Surprising Discoveries
Sports streaming service Venu was cancelled before its debut. ESPN (DIS+0.15%), Fox (FOX-0.71%), and Warner Bros. (WBD+1.03%) abandoned plans for the midpriced sports option for non-cable TV subscribers.
Delta Airlines is under investigation after an apparent engine issue led to an aborted takeoff. Four people were injured, and passengers exited onto a snow-covered runway at Atlanta’s airport via emergency slides.
50-pound fish that can live over 100 years could be in trouble. Scientists are worried that Bigmouth buffalo fish populations are dropping, partly because younger fish haven’t reached adulthood in years.
Grapefruit warnings for prescription users might soon be a thing of the past. Scientists in Israel found a way to crossbreed mandarins with grapefruits to create a version without the potentially harmful compounds.
Did you know we have two premium weekend emails, too? One gives you analysis on the week’s news, and one provides the best reads from Quartz and elsewhere to get your week started right. Become a member or give membership as a gift!
Our best wishes on a safe start to the day. Send any news, 50-pound fish, grapefruits, or comments to talk@qz.com. Today’s Daily Brief was brought to you by Francisco Velasquez and Harri Weber.