Good morning, Quartz readers!
What to watch for today
Brexit, Panama Papers, and an embattled prime minister. A long-awaited report calculating the costs and benefits of the UK’s membership in the European Union is due to be released. Meanwhile, David Cameron faces questions in Parliament, soon after the unprecedented publication of his tax returns. The Panama Papers had revealed he benefited from an offshore trust.
More players for Yahoo to reveal themselves. The company pushed back a deadline for core assets from today to April 18, according to Re/code. Verizon is said to be the main contender out of 40 potential buyers that includes British tabloid the Daily Mail.
Earnings season is upon us. US aluminum giant Alcoa is expected to report a third consecutive quarter of declines in earnings and revenue, although estimates of increased global aluminum demand this year might be a bright spot. Alcoa’s earnings are traditionally viewed as the opening of the US corporate earnings season.
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Over the weekend
John Kerry paid his respects at Hiroshima. He is the first US secretary of state to visit the memorial to the victims of the 1945 US nuclear attack, but he didn’t offer an official apology. Kerry and other foreign ministers also met in Japan in advance of the G7 summit in May.
Keiko Fujimori won the first round in Peru’s presidential election. Early results show Fujimori won 39% of the vote; she now looks likely to battle Pedro Kuczynski, a former World Bank economist, in a June run-off vote. Crowds took to the streets of Lima in the run-up to the elections protesting Fujimori’s links to her father, the former president jailed for human-rights abuses.
General Electric said it will float its Czech banking business. The Czech arm has an equity value of $1.15 billion, which would make this the biggest IPO in central and Eastern Europe (paywall) since 2011. It’s the latest in a series of asset sales by the US conglomerate in eastern Europe, as it pulls out of financial services and refocuses on its industrial and technology businesses.
Singapore’s premier was attacked on Facebook—by his sister. The daughter of Lee Kuan Yew, the late founder of the city-state, has accused her brother, the current prime minister Lee Hsien Loong, of abuse of power and of trying to start a “dynasty.” She decried the more than 100 activities marking the anniversary of the elder Lee’s death, which she called “hero worship.”
More than 100 were killed in a fire in Kerala. The fire at an annual temple festival was caused by illegal pyrotechnics. The building storing the fireworks caught fire, causing a massive explosion, local police said. Some 300 people were also injured in the incident.
Quartz obsession interlude
Kevin Delaney on the price of the world becoming less open. “The benefits of more open borders are significant when you consider the reduction of poverty in countries like Vietnam and China. If managed properly, the free movement of goods should be positive even for high-wage nations, making them more efficient and richer.” Read more.
Matters of debate
Life off the treadmill isn’t as fun as it once was. That’s why we work so hard.
Secret tax havens threaten the global financial system. Governments must seriously sanction those who misbehave, argues Thomas Piketty.
Sanders supporters don’t care that the senator’s details are fuzzy. His campaign is rooted in a narrative of protest.
Surprising discoveries
There’s an ecological push to put lionfish on the menu. The invasive species causes environmental havoc, and eating them could be the best way to control the threat.
Gullible employees wired huge amounts when the “CEO” asked for money. More than $2 billion has been lost to these really quite dumb scams, the FBI says.
Britain’s spy agency helped to prevent a Harry Potter book leak. “We don’t comment on our defense against the dark arts,” GCHQ said.
The world’s longest snake was caught. The 26-foot python took 30 minutes to capture.
A startup in India rents rooms to unmarried couples. StayUncle provides an affordable place to meet, safe from police and vigilante attacks.
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