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Here’s what you need to know
CanSino’s inhaled vaccine can move ahead with clinical trials. China’s drug authority gave its approval, as well as approval for clinical trials for a standard vaccine developed by Livzon Pharmaceutical Group.
Pfizer started early clinical trials for its Covid-19 pill. The oral antiviral drug is similar to those used to combat HIV and hepatitis C.
North Korea’s military is doing something shady at the country’s southern border. South Korean officials declined to elaborate on the specifics of the “unusual activity.”
Japan tapped into another 2.17 trillion yen ($20 billion) in relief funds. The latest round will mainly benefit restaurants and bars.
Delhi and Mumbai banned Holi celebrations. A rise in Covid-19 cases has led to restrictions on public gatherings, with Mumbai also banning private celebrations of the holiday.
Pakistan bought more than 1 million Chinese vaccine doses. The country has until now been relying on donated jabs. Meanwhile, India will open vaccinations to anyone over 45 starting April 1.
Rolls-Royce can’t sell its 150 million euro ($178 million) maritime engine maker. Norway blocked the sale of Bergen Engines to Russia on national security grounds.
Buy now pay later—does it make business better? Discuss the hottest trend in consumer borrowing with senior reporter John Detrixhe, along with Affirm exec Chung-Man Tam and fintech expert Jason Mikula on Clubhouse on Thursday, March 25 at 11am eastern time.
What to watch for
Joe Biden’s next legislative battle will make or break his climate legacy. A significant share of the US president’s upcoming $3 trillion infrastructure package will be directed to the electric grid, energy-efficient affordable housing, electric vehicle charging stations, and other clean energy priorities, according to early drafts reviewed this week by the New York Times.
Biden’s goal is to decarbonize the US electricity system by 2035. The administration is betting that leading with a carrot, rather than a stick, will be the fastest, lowest-cost way to make a lasting dent in emissions, while breathing life into the post-pandemic economy.
Specific details of the package have not yet been made public, and whatever the administration proposes will have to survive scrutiny from Congress. Will it include sweeter tax credits for renewables? Incentives to retire coal plants ahead of schedule? Benefits specifically designated for minority and underserved communities?
No matter what, said John Larsen, director of climate and energy at research firm Rhodium Group, “this could be the most promising opportunity to make progress on decarbonization across the economy that the US has had in a long time.”
Charting Paytm’s losses
On Feb. 19, India’s most valued tech startup expanded its stockbroking services to include futures and options trading. While experimenting and growing new services is vital for a tech venture, Paytm may be a cautionary tale of one that spread itself too thin in a highly competitive market.
In theory, the diversification should be paying off, as Paytm has a customer base of 100 million to cash in on. But the intense competition has forced the company to pour money into cash back programs and marketing. Paytm’s gamble could still work out, but in the meantime, the company has gotten itself into a tight spot.
Is college still a good deal?
A growing number of jobs require college degrees, so students get them to increase their earning potential. But sky-high tuition and mountains of debt are causing some to reconsider, especially during the pandemic. Quartz’s latest presentation considers how college can be better, from the business model to cheaper alternatives.
✦ Quartz members have access to our field guide about how higher ed has fared in a remote-learning world. Try out a membership for free.
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Surprising discoveries
No really, there were dolphins in the Venice canals. After several false claims made by others early in the pandemic, a Venetian captured an authentic sighting.
More than 32,000 Indians fessed up about their illegal exotic pets. The government’s voluntary disclosure initiative found cockatiels and macaws were among the most popular.
Sidney Powell said no rational person would believe her election fraud statements. Donald Trump’s lawyer says a voting machine company’s defamation suit is therefore ungrounded.
A dedicated pasta fanatic created a new noodle shape. It only took three years.
Taking Viagra could lead to longer life. A new study recommends the erectile dysfunction drug for men who have survived a heart attack.
Our best wishes for a productive day. Please send any news, comments, rare birds, and dolphin sightings 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 Tim McDonnell, Prathamesh Mulye, Susan Howson, and Liz Webber.