Good morning, Quartz readers!
Here’s what you need to know
The WTO named its first female and first African boss. Economist Ngozi Okonjo-Iweala took charge at the World Trade Organization, which has been without a leader for six months.
The founder of LVMH joined the SPAC boom. French billionaire Bernard Arnault and former UniCredit CEO Jean Pierre Mustier will buy European financial companies and take them public on Amsterdam’s stock exchange.
China was the EU’s top trade partner in 2020. The country’s quick economic recovery from Covid-19 helped propel it above the US to the top spot.
Symptomatic Covid cases in Israel fell 94% with the Pfizer vaccine. Cases considered serious also dropped 92% after two doses, according to the study, which is the largest using real-world data.
Chinese vaccines arrived in Zimbabwe. The southern African country received a shipment of 200,000 doses of the Sinopharm-made jab and plans to acquire 600,000 more. More of China’s vaccines have gone overseas than into the arms of Chinese people.
Protesters in Myanmar could face 20 years in prison. The military threatened anti-coup activists with fines and long sentences if they get in the way or incite criticism of the coup’s leaders.
Carnival is canceled. The celebration’s absence is wounding economies—not to mention moods—all around the world. In Rio alone, the holiday typically brings in around $560 million and creates 70,000 jobs.
What to watch for
Investors will get a peek into the state of the oil, restaurant, and big-data industries when these companies report their financials today:
🖥️ Palantir will share its earnings for the second time since the AI specialist went public last year. The Silicon Valley firm’s shares jumped this month on news of its partnership with IBM.
🛢️ Occidental will give us a snapshot into the rebound in energy prices. The company, which cut jobs and production last year as oil swooned, set a target for net-zero greenhouse gas emissions by 2040.
💊 CVS Health is under pressure from Amazon’s pharmacy ambitions. But it could see a boost in foot traffic thanks to Covid-19 vaccinations.
🍳 Denny’s will provide a window into the hard-hit hospitality sector. Shares in the 68-year-old restaurant chain—known for its Grand Slam pancake and egg breakfast—are down about 25% from a year ago.
Charting global emissions
China, the world’s top greenhouse gas emitter, boasts one of the world’s most ambitious long-term climate goals—net-zero emissions by 2060. While its carbon emissions dropped off during the height of lockdowns in early 2020 like most countries, by May, China was already back to pre-pandemic levels.
The country already consumes half the world’s coal, and now has plans to add 250 GW of new coal power capacity, more than the entire installed coal capacity of the US. With an economy that heavily relies on coal power, China is running out of time to alter course.
One and done
We should all be concerned about Indians not taking their second doses. On Jan. 16, India administered preliminary doses to nearly 200,000 healthcare workers. When their second-shot date rolled around, fewer than 4% returned.
This is a problem that goes beyond just India. If people skip their second doses, or even if they delay the doses beyond the recommended time frame, it gives the coronavirus more chances to mutate in a way that could lend it high resistance to the vaccines we have. If that mutant, resistant form spreads, a year’s worth of vaccine research could be overwhelmed by a fierce new wave of disease. It’s happened before—India has become a cradle for strains of antibiotic-resistant TB bacteria that have spread far beyond India’s borders.
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Surprising discoveries
Techno is terrible for relaxing. They needed a study to find that the electronic music was the least likely to lower heart rates.
Did Jupiter kill the dinosaurs? Researchers suspect the massive planet’s gravity pulled in an asteroid or comet, setting up a collision with Earth.
Hong Kong bank accounts laundered $1 billion last year. Police intercepted less than half of the money, which flowed through 10,000 or more bank accounts.
Rio de Janeiro’s Sambadrome is doing vaccines. For the first time in over a century, the Brazilian city’s stadium will not be hosting Carnival parades.
New Orleans locals turned their houses into floats. It’s socially distant “Yardi Gras,” so do whatcha wanna.
Our best wishes for a productive day. Please send any news, comments, Carnival feathers, and Mardi Gras beads 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 the krewe: Tim McDonnell, Samanth Subramanian, John Detrixhe, and Susan Howson.