Good morning, Quartz readers!
What to watch for today
Apple’s big update: Investors will get their first numbers on a slew of new products, including the MacBook Pro, iPhone 7, and AirPods. But no matter how good the figures might be, Apple is unlikely to break its streak of quarterly declines in revenue and profit.
The UK parliament debates the Brexit bill. The opposition Labour party is deeply divided over whether to support the 137-word legislation that will trigger Article 50 and officially begin the UK’s departure from the EU. MPs are seeking amendments to ensure tariff-free access to the EU single market, and guarantee a vote on the final deal.
US tech companies meet to take on Trump. Brought together by GitHub, a group reportedly including Google and Netflix will discuss filing an amicus brief in support of a lawsuit challenging Donald Trump’s recent immigration order. The order restricts citizens from seven Muslim-majority nations from entering the US. Tech companies rely heavily on foreign talent and have been alarmed by the move.
While you were sleeping
Donald Trump fired the acting head of the US justice department. The White House accused Sally Yates of having “betrayed” the department by refusing to enforce Trump’s order to temporarily ban refugees from around the world and immigrants from seven majority-Muslim countries. Yates said she wasn’t convinced the order was lawful.
US stocks plummeted after Trump’s refugee crackdown. The Dow and S&P 500 had their worst day since the presidential election, on fears and uncertainties over the Trump’s decision to single out Muslims for his immigration crackdown. Markets had previously surged on hopes that the US president would prioritize economic growth.
The Bank of Japan kept its policy intact and raised its forecast. The central bank opted to maintain its loose monetary policy and negative benchmark interest rate. Despite weakness in consumption and investment, it upgraded its growth forecasts, citing signs the world’s third-biggest economy is gaining momentum.
Mylan is under an antitrust investigation over EpiPen. The US Federal Trade Commission has requested information from the drugmaker over its allegedly anti-competitive practices. The price of the company’s injection devices has climbed more than 500% over the past few years.
Quartz obsession interlude
Steve LeVine on the ExxonMobil that Rex Tillerson left behind: “Exxon is, and will long continue to be, foremost an oil company. Never mind possible disruptions from a change in social tastes. Exxon is doubling down on tradition, with a zeal that harkens back to a time when oil was the undisputed commodity of the moment and the future.” Read more here.
Quartz markets haiku
Stocks spiraling down:
Momentary correction
or something darker?
Matters of debate
“No one leaves home unless home is the mouth of a shark.” A British-Somali poet argues that people become refugees out of desperation, not by choice.
America’s mess is Australia’s opportunity. Universities, corporations, and governments can recruit talented people who would’ve otherwise emigrated to the US.
Facebook is failing in its attempts to woo China. Despite years of effort, Mark Zuckerberg is no closer (paywall) to regaining access to the world’s biggest smartphone market.
Surprising discoveries
Fish communicate with urine. Researchers discovered that one species sends messages of male aggression in its pee.
There’s a method to Ikea’s naming madness. Kitchen accessories, for example, are all named after Swedish fish, mushrooms, and adjectives.
Office “cake culture” will kill you. The UK health authority is warning against it, citing diabetes, obesity, and poor oral hygiene.
Japanese grownups are being swaddled in cloth as a form of stress therapy. Otonamaki, which literally means “adult wrapping,” takes you right back to your mother’s womb.
Women are ruling Turks & Caicos. The tiny Caribbean island elected its first female premier, and women hold many other positions of power.
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