Good morning, Quartz readers!
What to watch for today
The UN holds an emergency meeting on North Korea. The Security Council will convene on Monday evening (New York time) to discuss Pyongyang’s latest missile test. China, which has the most influence over its neighbor, has called for restraint to avoid escalating tensions.
Toshiba’s big bet on expensive nuclear reactors comes due. The company is set to announce a $6 billion write-down after a series of disastrous projects in the southern United States. Toshiba plans to sell part of the failed business and other assets to avoid going under.
A tiny satellite launch in India that could be huge. An Indian PSLV rocket will attempt to set a record by deploying 103 small satellites, including 88 imaging satellites owned by Planet. A successful launch would give the startup a total of 143 satellites—more than any other company.
Benjamin Netanyahu meets with Donald Trump. The Israeli prime minister is hoping for a better relationship than he had with Barack Obama. Trump was a strong supporter of Israel’s government on the campaign trail, but recently said expanded settlements in occupied territories “don’t help” the peace process.
While you were sleeping
Justin Trudeau met with Donald Trump. The leaders did not discuss Trump’s controversial clampdown on refugees and immigrants, with Trudeau arguing that Canadians don’t expect him to “lecture another country on how they choose to govern.” Talks centered on cross-border trade, in addition to a discussion panel featuring prominent female executives.
Wilbur Ross will keep some big foreign investments as commerce secretary. The private equity maven is selling at least 80 assets and funds, but is keeping an additional 11 offshore entities. That includes a massive co-investment with the Chinese government’s sovereign-wealth fund in an oil tanker company.
US oil drilling outweighed OPEC’s price cuts. Crude prices fell despite a report from the oil cartel showing that members were largely complying with last year’s landmark agreement to cut production. US shale oil output is on the rise, which would mitigate any OPEC cuts.
Prada is hopeful of a luxury retail rebound. January sales were “positive” in Asia and Europe, the Hong Kong-listed fashion company said, following full-year results where sales fell 9% and every region posted a significant decline.
Indian inflation grew at its slowest pace on record. Consumer prices rose only 3.17% in January as merchants were forced to cut prices in the wake of the country’s disruptive demonitization. The central bank recently kept its benchmark rate at a six-year low.
Quartz obsession interlude
Heather Timmons on the US customs and border agents that defy court orders as they do Trump’s bidding. “The initial ban was hugely popular among CBP officers, who backed Trump in large numbers during the election … morale among agents and officers ‘has increased exponentially since the signing of the orders.’” Read more here.
Quartz markets haiku
Apple sets records
But it’s still undervalued
Call Mister Buffett.
Matters of debate
Fake news is a Cold War tactic. Disinformation and other ”active measures” used by the United States and Soviet Union are being retooled for the digital age.
Apple’s great design is a lie. Its new $5 billion headquarters is another case of hiding internal shambles under sleek exteriors.
Renewable energy is no longer “alternative.” Fossil fuels are doomed to a shrinking slice of the energy market.
Surprising discoveries
Chinese couples are taking out wedding insurance policies. If they tie the knot within 10 years, they get 10,000 roses.
Drones are carrying passengers in Dubai…The China-made craft can carry a 100 kg (220 lb) passenger and a small suitcase.
…And battling golden eagles in France. The winged predators are being tested by the air force as a drone countermeasure.
A French man sued Uber for exposing his infidelity. His wife was able to track his affair thanks to notifications on her phone.
There’s growing evidence that butter is actually good for you. Vegetable oil is linked to higher rates of death from heart disease.
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