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The US threatened renewed sanctions after Myanmar’s coup. But Myanmar’s military can likely count on support from China.
India’s budget relies on big spending—and borrowing. The government set a fiscal deficit target of 9.5% for the financial year ending in March, and is planning massive expenditures on healthcare (though still less than anticipated).
The UK formally asked to join the Trans-Pacific Partnership. The move was welcomed by Japan, which serves as president of the TPP’s decision-making body.
Japan will extend its state of emergency. Prime minister Yoshihide Suga will make a final decision today, but reports indicate a one-month extension is likely.
Robinhood raised another $2.4 billion. The investing app central to the GameStop saga has raised more from shareholders in the past week than it has over its entire existence.
Nintendo leveled up (again). Nintendo Switch sales drove the company’s best quarter since 2008, and Nintendo raised its annual forecast for a second time.
What to watch for
Three of the biggest names in tech report earnings today. Rosy numbers are expected all around, thanks to pandemic-driven shifts to e-commerce and cloud computing. For some, however, it won’t be all “great quarter” backslapping:
🛍 Alibaba’s extended Singles’ Day sales likely paid off financially, but the threat of a Chinese regulatory crackdown looms. No word on whether Jack Ma will make an appearance.
☁️ Alphabet’s overall numbers are expected to be strong, but the company is for the first time reporting costs and operating profit for Google Cloud. Analysts believe that business is much weaker than Amazon’s Web Services.
🛒 Amazon caps off an already stellar year with a report that includes its Prime Day sales and the holiday season.
Charting sub-Saharan Africa’s 2021 growth
Sub-Saharan Africa will see moderate but positive GDP growth of 2.7% this year, a welcome rebound from the region’s first recession of 25 years in 2020, when GDP shrank by an estimated -3.7%.
But growth won’t be especially strong for oil producers and other extractive-reliant economies, including the region’s largest economies: Nigeria and South Africa. More diversified economies including Kenya, Côte d’Ivoire, and Tanzania will recover better.
Presenting the beauty industry’s makeover
Beauty is all dressed up and going places. Despite an unexpected 2020, the beauty industry is thriving. That’s in part because brands with social media mastery are appealing to an eager customer base willing to spend. In our latest presentation, we explore the forces that are creating beauty’s glow up.
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Surprising discoveries
The GameStop saga is getting a movie. MGM acquired the rights to adapt Ben Mezrich’s GameStop book proposal, The Antisocial Network.
20,000 honey bees took over a tech company’s empty office during lockdown. They produced 10 gallons’ worth of honey, beeswax, and pollen.
AI resurrected a dead singer’s voice. A new cover mimics the sound of deceased South Korean folk rock artist Kim Kwang-seok.
Everyone’s buying Kamala Harris’s favorite shoes… Sales of women’s Chuck Taylors doubled during inauguration week.
…and more books, but not to read. It’s all for the Zoom background.
Our best wishes for a productive day. Please send any news, comments, office bees, and Converse sneakers to hi@qz.com. Get the most out of Quartz by downloading our iOS app and becoming a member. Today’s Daily Brief was brought to you by Yinka Adegoke, Chika Dunga, Liz Webber, and Jordan Lebeau.