Good morning, Quartz readers!
What to watch for today
Earnings from the Agricultural Bank of China. The country’s third-largest lender is expected to post dismal annual results, just like its peers. After years of growth, the “Big Four” state-run banks are seeing flat-to-declining profit growth and carrying high levels of non-performing debt.
Tesla unveils its latest model. The Model 3 is a $35,000 sedan that will go at least 200 miles (320 km) on a single charge. It’s the mass-market electric car that Elon Musk has always promised—and he has essentially bet the company on its success.
Obama hosts a big nuclear summit. Officials from 56 countries, including the leaders of China, Great Britain, Canada, France, India, and Mexico, descend on Washington to talk about nuclear security issues. The US president has only one private meeting scheduled, with Chinese president Xi Jinping.
While you were sleeping
Lululemon worked up a sweat. The athleisure company posted better-than-expected quarterly profits and same-store sales, thanks to new designs and expansion in Asia.
Spotify tapped investors for more cash. The music streaming startup secured $1 billion in convertible debt financing, which gives it more cash for acquisitions and international expansion. The terms of the deal, which give the private equity and hedge funds a bigger stake over time, may hasten its initial public offering.
The UN urged countries to take in 480,000 Syrian refugees. Secretary general Ban Ki-moon criticized leaders who have demonized refugees. He called for “an exponential increase in global solidarity” and said it’s time for more countries to step up.
The US is sending more troops to eastern Europe. Combat teams will conduct military exercises with Russia’s neighbors beginning in February 2017. Their presence is part of a wider effort to counter Moscow’s aggression in Crimea and Ukraine.
Researchers warned that Antarctica’s sea ice is not stable. A collapse could double the expected sea-level rise to two meters by 2100, assuming carbon emissions aren’t cut. That would spell disaster for many low-lying cities.
Quartz markets haiku
Foolish bull chasing
A dove up the mountainside
Careful, you can’t fly!
Quartz obsession interlude
Akshat Rathi on the science behind autonomous robots that can repair their own circuits. “Such tiny repairs could help modern electronics have a longer shelf life, but these proof-of-concept, autonomous nanobots have bigger potential. They could one day soon be used for self-healing materials and delivering drugs inside the human body.” Read more here.
Matters of debate
The US could have a 10-second tax return. An automated return may sound like a fantasy, but plenty of countries do it.
Virgin America may be too friendly for its own good. Richard Branson’s bet on more legroom and free Wi-Fi has failed to make a profit.
Political filters on dating apps are a dangerous development. But an exception may be needed for Donald Trump supporters.
Surprising discoveries
The cherry blossoms of spring are all about sex. Yet the brightest-blooming trees may be the ones that are sick or dying.
There’s a universal expression called the “not face.” The scowling expression of disapproval is found across all human cultures.
Microsoft’s racist AI bot made a bizarre reappearance. “Tay,” deactivated last week, briefly reappeared to tweet about smoking weed.
The future of art is a drone with a Sharpie. Michelangelo could have finished the Sistine Chapel so much more quickly.
You’re more likely to yawn around people you know. The contagiousness of yawning is a measure of empathy.
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