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Here’s what you need to know
India announced its 2022 budget. Government spending is growing by 4.6% to nearly 40 trillion rupees ($530 billion), and focuses on clean energy and infrastructure. Finance minister Nirmala Sitharaman also imposed a 30% tax on income from crypto transactions.
Sony is taking over Bungie for $3.6 billion . The Japanese electronics and gaming giant will own the studio behind Halo in a deal that boosts its competition with Microsoft.
Exxon is moving its headquarters to Houston, Texas. The oil giant’s relocation will coincide with combining its chemical and refining divisions.
The New York Times bought Wordle. Creator Josh Wardle netted a seven-figure sum for the popular word game, which he’d designed and run on his own dime.
Will Tom Brady retire? The NFL legend, whose business interests could keep him occupied for years, indicated he’s still deciding whether to continue past the age of 45, contradicting weekend reports.
What to watch for
Starbucks releases its first earnings report since two of its stores in Buffalo, New York, voted to unionize. The victory for workers has encouraged more than 50 other stores, from Baltimore to Oakland, to file petitions with the National Labor Relations Board, suggesting that baristas feel they have an upper hand.
While the giant coffee chain has positioned itself as a progressive employer, Starbucks has not been sympathetic to these organizing efforts. The company has allegedly told workers not to unionize, and flooded stores with executives to host “listening sessions.” Starbucks has also announced it will raise average wages to $17 an hour by mid-2022.
The rising tensions with employees may help explain why Starbucks is focusing its efforts on growing stores internationally (pdf)—with most of the 2,000 new locations in 2022 opening outside the US—where costs are a lot lower.
The global cost of Russian sanctions
Analysts fear financial sanctions against Russia would likely dampen exports at a time when supplies for most commodities are constrained, inflation is rising, and prices are already high.
Russia’s exports of fossil fuels, metals, wheat, and other key commodities are critical to many global supply chains; it produces 43% of the world’s palladium, for example, a metal crucial for car engines. If the US and UK follow through on their threats, the economic pain will be shared widely beyond Russia’s borders.
Are the kids alright?
Two years into the pandemic, parents and policymakers are wondering: “Are the kids going to be alright?” Experts say the answer is, mostly, yes. But the mental health of today’s kids will also depend on how we confront looming societal threats like income inequality and climate change—and how much the world invests in the slow and steady march of public health. ✦ Try a seven-day free trial of Quartz membership for access to all of our member-exclusive emails.
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🐈 China needs its population to have more kids. They’re adding pets instead.
Surprising discoveries
China’s Zhu Rong rover has a selfie stick. If you were on Mars, you’d take pictures of yourself, too.
Polar bears have moved into an unused Arctic weather station. They like to look out the windows.
Maus is topping the charts. After a Tennessee school board banned Art Spiegelman’s graphic novel about the Holocaust, it claimed the first spot on Amazon’s bestseller list.
Elon Musk is in negotiations with a Florida teenager. The Tesla owner offered $5,000 to shut down a Twitter account that tracks his private jet, but the student countered with $50,000.
You reclaim six hours a week when you work from home. Unfortunately, you spend three of those extra hours working.
Our best wishes for a productive day. Send any news, comments, polar bear window portraits, and space selfies 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 Hasit Shah, Michelle Cheng, Tim McDonnell, Lila MacLellan, Susan Howson, and Liz Webber.