Good morning, Quartz readers!
What to watch for today
It’s UK budget day. Chancellor Philip Hammond is expected to give an “upbeat assessment” of the UK’s prospects when he unveils his first full budget statement since the country’s vote to leave the EU last June. As the economy is performing well, Hammond, a.k.a. “Spreadsheet Phil,” isn’t expected to deliver any big-spending surprises (paywall).
Women across the US go on strike. “A Day Without a Woman,” a follow-up to the anti-Trump Women’s March in January, aims to demonstrate economic solidarity, which is, of course, easier for the more privileged. Today is also International Women’s Day, which in China is all about shopping.
The ADP National Employment Report is released in the US. Economists expect it to show (pdf) that private employers added 190,000 jobs last month. Traders will use it to fine-tune expectations ahead of the March 10 US jobs report. If the positive numbers hold up the Fed will likely raise interest rates next week—creating worldwide ripple effects.
While you were sleeping
Trump reportedly picked his NATO ambassador. It will be Richard Grenell, a former US spokesperson at the United Nations, according to Bloomberg. In 2014, Grenell pushed for Ukraine to join NATO, a proposal that enraged Russia. If confirmed, he’d be the highest-ranking openly gay member of Trump’s administration.
China warned the US not to provoke Pyongyang. Chinese foreign minister Wang Yi said Wednesday that by holding military drills with South Korea, Washington is creating a “looming crisis” in the Korean peninsula. He fears a “head-on collision” between North Korea and the US. Beijing is furious that the US started delivering its THAAD missile system to South Korea this week.
Adidas celebrated an energetic 2016. The German sports goods giant posted a 40% increase in net income for the year—which saw the Olympics in Rio and the European soccer championship in France—thanks to double-digit sales in its Adidas Originals (paywall), Reebok Classics, and Sports Performance brands.
Strong US growth boosted G4S. The world’s largest security firm, now getting back on track after a series of scandals, booked a 14% rise in pre-tax profits to £352 million ($428 million) in 2016. Its CEO, Ashley Almanza, said he expects Donald Trump’s policies to be “good for business generally.“
Japan revised its fourth-quarter GDP upward. The economy grew at an annualized 1.2% during the period, better than earlier estimates. Surprisingly strong capital expenditure helped, increasing 2% from the previous quarter, the biggest quarterly gain since early 2014.
Quartz obsession interlude
Leah Fessler on the subtle office cues that signal if employees are happy: “If you have the opportunity to check out the communal kitchen, take it. Dirty dishes and clogged sinks are obvious evidence of employee laziness and disregard for common areas. The fridge culture, meanwhile, is more nuanced.” Read more here.
Matters of debate
Is Nevada the Greece of America? Its economy is still reeling from the financial crisis (paywall), even as most other states have recovered.
Bitcoin’s boom might not be a fluke. The cryptocurrency does not show most of the telltale signs of a financial bubble.
A four-day workweek could be bad for your health. Compressing hours has serious implications for mental health, stress levels, and fatigue.
Surprising discoveries
Jimmy Buffett is opening a real-life Margaritaville for the olds. Residents can waste away in the singer’s new Florida retirement community.
Nike is making a performance hijab. It’s for female Muslim athletes who have had few options for their workouts.
Women make up less than 5% of Fortune 500 CEOs. That frustratingly small number is even lower than last year.
Netflix is making choose-your-own-adventure shows. New interactive storylines will give viewers control over how plots unfold.
IKEA’s new furniture could save your relationship. Snap-together designs may eliminate the fight over who misplaced the pesky hex-wrench.
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