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Here’s what you need to know
US senators voted to proceed with Donald Trump’s second impeachment trial… The former president’s legal team and House prosecutors will present their opening arguments of the case today.
…and reintroduced a refugee bill for Hong Kong protesters. The Hong Kong Safe Harbor Act would make it easier for those fearing persecution to obtain refugee status in the US.
The UK will punish quarantine rule-breakers. Travelers lying about having been to Covid-19 hotspots to avoid hotel quarantines, which start Feb. 15, could face £10,000 ($13,800) fines and up to 10 years in jail.
Twitter had a strong fourth quarter. The social media giant reported net income of $222 million and record revenue.
The WHO presented its findings from China. The team said SARS-CoV-2 was highly unlikely to have leaked from a Wuhan lab, but the investigation didn’t “dramatically” change its picture of the pandemic
Huawei challenged the US over national security designation. The Chinese telecom giant filed a lawsuit against the Federal Communications Commission, which last year placed restrictions on buying the company’s gear.
What to watch for
In the war over who will power the world’s vehicles, the battle between South Korean rivals LG Chem and SK Innovation will be decided by the US International Trade Commission today, nearly three years after proceedings began.
LG, the world’s fourth largest electric battery maker, is accusing SK of stealing trade secrets and wants to block production of battery cells in SK’s US factory. SK says LG Chem’s batteries spark fires and explosions. Whatever the verdict, we can expect more tussles between battery makers anxious to supply the massive—and growing—electric vehicle (EV) market.
A snapshot of the electric battery situation, by the digits:
4: Number of top players in the battery market (China’s CATL, Japan’s Panasonic, China’s BYD, and LG Chem)
$570 billion: Amount the global EV market will be worth by 2025, with China enjoying a market share of 60% or more
$17.9 billion: SK’s estimated order backlog for automakers, about half the value of its global battery deals between 2017-2019
Charting China’s birth rate problem
For all the complex problems facing the world’s superpowers, China has one that’s very simple yet very serious: its citizens aren’t having enough children.
Around 10 million newborns were entered into the Hukou, China’s household registration system, this past year. Down 1.8 million from 2019, the 15% drop is seen by many as a sign of China’s failure to handle its impending population crisis. If one demographic expert’s prediction is correct, China’s 2020 birth rate will be its lowest in 20 years.
The phone trade trap
Did you gain a pretty penny on GameStop’s rise, only to lose it during dogecoin’s brief moment in the spotlight?
Chances are, you made those trades on your phone.
According to a new paper by German and American business school professors, retail investors trading on their phones tend to buy riskier assets than they would if they traded on computers, chasing hot streaks and exhibiting riskier habits that persisted even when they returned to their laptops.
The paper states that immediate market access gives investors more opportunity to observe stocks and invest in streaking companies, with individual apps being less to blame than our mood shift when we’re holding a phone. This is particularly so in after-hours trading, the paper states—mix this happy-go-lucky attitude with a relaxed mood, and the result is a wild ride for your stock portfolio.
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Surprising discoveries
A lawyer put on a cat filter during a Zoom court hearing. “I’m here live, I’m not a cat,” the panicked Texas attorney told judges on the call.
New US Coca-Cola bottles will be made from 100% recycled plastic. The company said the move will reduce its use of new plastic by 20% in North America.
Another monolith appeared (and disappeared) in Turkey. This one was surrounded by armed guards.
Olympians won’t be able to high-five in Tokyo. The athlete rulebook also discourages hugs.
Welcome to the People’s Republic of Google. A Nevada bill aims to lure tech companies by letting them form their own local governments.
Our best wishes for a productive day. Please send any news, comments, Olympic elbow bumps, and tiresome monoliths 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 Jane Li, Mary Hui, Liz Webber, and Susan Howson.