Skip to navigationSkip to content

The proposed Biden-Putin summit is off

The US and its allies have put in place a range of economic sanctions against Russia.

U.S. President Joe Biden and Russia's President Vladimir Putin meet for the U.S.-Russia summit at Villa La Grange in Geneva, Switzerland, June 16, 2021.
This story was published on our Quartz Daily Brief newsletter, The concise, conversational rundown you need to start your day.
  • Liz Webber
By Liz Webber

Deputy email editor

Published

Good morning, Quartz readers!

Was this newsletter forwarded to you? Sign up here. Forward to the friend who is all about self-improvement.

Here’s what you need to know

The proposed Biden-Putin summit is off. The US and its allies have put in place a range of economic sanctions against Russia as a full-scale invasion of Ukraine—and the US president is already calling it that—appears closer.

Volkswagen is considering a Porsche IPO. The German automaker hopes to spin off its profitable luxury sports car division as a way to raise cash for investment in electric vehicles.

Barclays withheld its former CEO’s bonus. Jes Staley won’t receive $22 million as an investigation into his links to Jeffrey Epstein continues. The bank also announced profits of $8.4 billion in 2021.

The US women’s soccer team reached a $24 million settlement over equal pay. The USWNT’s fight brought the longstanding issue of pay discrimination in professional sports to the fore, but its achievement remains rare, for now.

Hong Kong will start covid testing for all residents in March. Everyone will be required to take three rounds of PCR tests and daily rapid tests. The city will also shut schools to turn them into covid response centers.

Sponsor content by Alumni Ventures
Sponsor content by  Alumni Ventures
Your on-ramp to venture investing. Your on-ramp to venture investing. High-growth companies are staying private longer, so getting in pre-IPO is more important than ever. But how do you get started?

Alumni Ventures makes professional venture capital investing accessible to millions of accredited investors. One of the most active venture firms in the U.S.(Pitchbook 2021), Alumni Ventures builds smart, simple venture portfolios for individuals like you, not just the ultra-wealthy.

Join the over 600,000 experts, innovators, investors, and subscribers who make up the Alumni Ventures network. Are you ready to be a venture investor?

Get Started Today

What to watch for

A group of people holds up beers in a pub.
Image copyright: John Rensten/Getty Images

From tomorrow, all legal covid-related restrictions in England will be gone: no more masks, self-isolation, routine contact-tracing, and some financial support. Free testing will also phase out from April 1.

The UK government is aggressively pursuing a “living with covid” strategy, emphasizing common sense and personal responsibility over large-scale state intervention for what’s left of the pandemic.

The government insists it’ll continue to protect the most vulnerable, and the vaccine booster program will be stepped up again. But critics say this policy, the first of its kind in any rich country, is reckless. To a large extent, however, official covid policy in England has only followed what people are doing anyway.

Oil prices aren’t so back to normal

As economic activity has picked up with the easing of pandemic lockdowns, the demand for oil has led to a steady climb in prices.

But after Russia ordered troops to enter two breakaway regions in Ukraine, oil prices jumped to a seven-year high. The price of a barrel of Brent crude briefly touched $99.38, the highest since September 2014.

A line chart showing the change in brent crude oil price from December 2021 to February 2022. In December, the pricer per barrel was less than $80, but it's since grown to nearly $100.

Western countries are responding to Russia’s incursion on eastern Ukraine with a series of economic sanctions, with Germany suspending certification of the Nord Stream 2 gas pipeline from Russia and jeopardizing a potentially vital natural gas supply.

No such thing as too much fanfare

Indian male headgear decorated with elaborate jewelry
Image copyright: Photo by Eric Helgas, styling by Alex Citirin-Safadi

Indian weddings are as varied as the religions, castes, communities, and tribes that host them. But the big, spectacular Indian wedding—a combination of Hindu tradition and Bollywood influence—has withstood the test of time, social reform, and a pandemic.  🎧 Learn more about the staying power of these pricy parties with this week’s episode of the Quartz Obsession podcast.

🥻 Listen on: Apple Podcasts | Spotify | Google | Stitcher 

Sponsored by Alumni Ventures

Handpicked Quartz

📰  National news consumption in the US is down—especially among Democrats

🇳🇬  What happens to the 4,000 Nigerians studying in Ukraine?

🇮🇳  Thousands of Indian medical students are still in Ukraine, too

🪄  5 Google docs shortcuts that will make you more productive

💸  South Asian migrant workers lost $25 million in wage theft during the pandemic

📺  Roku’s market decline is tied to big tech’s streaming success

Sponsor content by Alumni Ventures
Sponsor content by  Alumni Ventures
Your on-ramp to venture investing. Your on-ramp to venture investing. High-growth companies are staying private longer, so getting in pre-IPO is more important than ever. But how do you get started?

Alumni Ventures makes professional venture capital investing accessible to millions of accredited investors. One of the most active venture firms in the U.S.(Pitchbook 2021), Alumni Ventures builds smart, simple venture portfolios for individuals like you, not just the ultra-wealthy.

Join the over 600,000 experts, innovators, investors, and subscribers who make up the Alumni Ventures network. Are you ready to be a venture investor?

Get Started Today

Surprising discoveries

Scientists think it rains liquid precious gems on this exoplanet. And the clouds are made of metal.

Colombia is done with Pablo Escobar’s hippos. Descendants of the drug lord’s herd will be named an invasive species.

Miami street gangs have given up on drugs. Online identity theft is much more lucrative.

A group of Australian magpies helped each other remove their tracking devices. Most were free within hours.

The US rejected an algorithm’s copyright claim. The Copyright Office said the AI-created art didn’t meet its standard for protection.

Our best wishes for a productive day. Send any news, comments, liquid gems, and AI art 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, Samanth Subramanian, Courtney Vinopal, Liz Webber, and Morgan Haefner.

📬 Kick off each morning with coffee and the Daily Brief (BYO coffee).

By providing your email, you agree to the Quartz Privacy Policy.