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What to watch for today
An impeachment vote on Dilma Rousseff. After months of wrangling, the Brazilian senate will vote on whether or not to impeach the country’s embattled president. National media polls show she’s likely to lose and face trial on charges she broke national budget laws. Today could effectively be her last on the job.
The World Economic Forum on Africa kicks off. The conference will focus on using digital technologies to accelerate the continent’s development. It convenes in Rwanda, which has become a regional tech hub, earning comparisons to Switzerland, but still struggles to host huge events like this.
Macy’s investors prepare for disappointment. The US department store is expected to post lower earnings and revenues as its business struggles against online retailers (paywall).
While you were sleeping
Sanders beat Clinton as Donald Trump marched on. The presumptive Republican presidential nominee easily won primaries in West Virginia and Nebraska on Tuesday. Democratic candidate Bernie Sanders defeated Hillary Clinton in West Virginia, but the last-minute win doesn’t dent Clinton’s lead.
Unions called strikes after France forced through labor reforms. François Hollande’s government resorted to a constitutional measure that allows them to pass laws without a vote. Unions have called for two days of strikes next week and the government faces a no-confidence vote tomorrow.
Toyota warned of a bad year. The Japanese carmaker said its net income will fall for the first time in five years, by as much as 35%, for the fiscal year ending in March. Its bottom line has been dragged down by the fallout from the Takata airbag recall, the impact of a strong yen and slowing demand in the US market.
Staples and Office Depot gave up on their merger. The office-supplies giants announced their decision after a US federal judge ordered a temporary halt to the $6.3-billion deal because of antitrust concerns. Staples will pay Office Depot a $250-million break-up fee.
Germany’s biggest energy provider enjoyed a Russian boost. Eon’s 8% rise in first-quarter operating profit to $3.5 billion was largely due to a fresh deal (paywall) on long-term gas-supply contracts with Russia’s Gazprom, which added around $455 million to Eon’s earnings.
Quartz obsession interlude
Anne Quito on how procrastination is essential to creativity. “The purpose of procrastinating, said Konnikova, is ‘to make sure to have perspective before you start working.’ … [When] we’re developing an original idea, a pause gives our brains time to form creative associations, and recognize patterns, or simply see things from a different angle.” Read more here.
Matters of debate
We need to know who invented bitcoin. The real Satoshi Nakamoto could settle crucial disputes about the future of the crypto-currency.
Denmark isn’t the utopia it seems to be. The country has the highest levels of household debt in the developed world.
Legal pot isn’t living up to its promise. Cops are still more likely to go after young black men for possession of marijuana.
Surprising discoveries
Mercenaries are Uganda’s biggest export. Its private military contractors can be found around the world’s trouble spots.
The queen called Chinese officials “very rude.” The British monarch was caught talking on camera about president Xi Jinping’s UK visit in 2015.
Hikers have been warned to avoid the “Lord of the Rings” volcano. Mount Ruapehu, the backdrop for Mordor, is showing signs of increased volcanic activity.
Silicon Valley is saying goodbye to perks. Free shuttles and laundry services are the first to go when VC money dries up.
Germany had so much renewable energy that it paid people to use electricity. The wind and solar surplus was brief, but a sign of things to come.
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