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 the UK’s departure from the EU. MPs want amendments to ensure tariff-free access to the EU single market, and guarantee a vote on the final deal.
US tech companies talk 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 banning people from seven Muslim-majority countries from the US. Tech companies rely heavily on foreign talent and have been alarmed by the move.
Donald Trump reveals his Supreme Court pick. The president will name his choice for Supreme Court justice (paywall) on Tuesday evening. It’s expected to be either Judge Thomas Hardiman of the Third U.S. Circuit Court of Appeals in Philadelphia or Judge Neil Gorsuch of the 10th U.S. Circuit Court of Appeals in Denver.
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 immigration order—Yates said she wasn’t convinced the order was lawful. She’ll be replaced by Dana Boente until Jeff Sessions, Trump’s nominee for the post, is confirmed by the Senate, likely next week.
Deutsche Bank was punished for Russian money laundering. Another day, another whopping fine for the German bank. Now it must pay $630 million in fines and civil penalties for moving $10 billion out of Russia using a mirror trades, which allowed clients to buy local blue-chip shares in rubles in Russia, which would then be sold in London for dollars.
Germany’s unemployment level just keeps falling. The total number of unemployed fell for the fourth straight month to an all-time low of 5.9% since Reunification in 1991. However, a new study from the Institute of Economic and Social Research found that millions of people are not being paid the minimum legal wage.
India’s IT stocks got the Trump jitters. Worries that upcoming reform of the US’s H-1B visa system will make it harder for US firms to hire foreign talent caused the BSE IT index to drop by almost 4% (paywall). Infosys, which generated more than half its revenue in the US in the last financial year, suffered a 3% slump.
Shell offloaded assets to tackle its debt. The Anglo-Dutch energy group will sell oil and gas assets in the North Sea and Thailand worth a combined $4.7 billion (paywall). It needs to raise $30 billion from disposals by the end of 2017 to shrink its $80 billion debt after buying BG Group this time last year.
The Bank of Japan raised its forecast but stuck with its policy. 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.
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.
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 trying, 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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