Good morning, Quartz readers!
What to watch for today
A fresh batch of economic data. Australia’s central bank will announce its rate decision, as investors watch to see if it lowers rates in reaction to weak inflation numbers. The EU will also release its spring economic forecast, and South Korea announces April inflation data.
The EU-Japan summit kicks off. Japanese prime minister Shinzo Abe and EU leaders Jean-Claude Juncker and Donald Tusk will hold a press conference at the start of their meeting in Brussels. They will discuss a free trade agreement that has been in the works since 2013.
Halliburton faces its shareholders. The oil services giant will have to explain what went wrong in a failed merger with Baker Hughes, as well as an expected 40% decline in quarterly revenue. CVS, Estée Lauder, Etsy, HSBC, Starwood, Zendesk, and Zillow also report earnings.
While you were sleeping
Donald Trump said China has been able to “rape” the United States on trade. The Republican presidential frontrunner said US trade deficits have resulted in “the greatest theft in the history of the world.” He was speaking to voters in Indiana before the state’s pivotal primary, which he is expected to win.
Brazil shut down WhatsApp. A judge in the northeastern state of Sergipe ordered carriers to block access to the messaging platform, used by 100 million Brazilians, for 72 hours–the second such decision in five months. The shutdowns are part of a larger battle between technology companies and governments over data encryption.
John Kerry tried to salvage the Syria ceasefire. The US secretary of state is working with Moscow to re-establish a truce in Aleppo, where violence has severely escalated in recent weeks. Meanwhile, Sky News revealed that the Assad regime has been colluding with ISIL on various battleground deals.
Puerto Rico missed a bond payment. The tardy $442 million bond from the Puerto Rico Development Bank pushed the US territory deeper into a financial crisis. Governor Alejandro Garcia Padilla said he was forced to choose between basic services and debt obligations, blaming hedge funds and the US Congress for failing to restructure territory’s debt.
Leicester City won the English Premier League against extraordinary odds. The club clinched victory after Tottenham Hotspur drew at Chelsea, ending one of the craziest seasons in football history. Leicester City were 5,000-to-1 underdogs when the season began.
Quartz markets haiku
In Puerto Rico
The first wave will soon hit shore
The storm will follow
Quartz obsession interlude
Sarah Todd on how sex education short-changes teenage girls: “As attitudes toward premarital sex evolve, many parents, teachers, and other authorities have begun to emphasize safe sex and consent. Yet despite all these changes, girls remain deeply unequal in the bedroom. Just because they’re making the choice to have protected sex with boys doesn’t mean they’re having fun.” Read more here.
Matters of debate
Apple needs Elon Musk. As its iPhone business withers and stock plummets, the company needs to rethink its business model and leadership.
Hundred-year-old lines on a map are responsible for untold human misery. It’s the anniversary of the Sykes-Picot treaty that carved up the Ottoman empire.
It doesn’t really matter who invented Bitcoin. An Australian’s disputed claim will have little impact on the disruptive digital currency.
Surprising discoveries
A Maryland dog is saving the bees. He is trained to sniff out a deadly bacterial disease.
US toddlers accidently shot 23 people this year. Tragic incidents are on the rise.
More single men means more beards. It’s an evolutionary strategy that draws women’s attention.
Expensive money transfers are bleeding Africa dry. Lower remittance costs could save $16 billion a year.
Chinese police will soon patrol in Rome and Milan. They will “reinforce the sense of safety” for tourists.
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