Good morning, Quartz readers!
What to watch for today
The European Central Bank makes a big decision. The ECB’s latest call on interest rates and stimulus measures comes after euro zone inflation has finally reached the bank’s 2% target. Analysts don’t expect bank president Mario Drahgi to announce a rate raise during the meeting, but he could drop some hints.
European Union council president Donald Tusk is up for re-election. The former Polish prime minister will likely serve another term, despite opposition from rival Polish lawmaker Jacek Saryusz-Wolski.
Theresa May has another awkward meeting in Brussels. The British prime minister will have to discuss the European fraud watchdog’s accusation that the UK failed to crack down on criminal gangs bringing illegal Chinese goods into the European market—and should be fined £1.7 billion.
While you were sleeping
The trial of Samsung’s heir started. Vice chairman Lee Jae-yong, currently in jail, faces charges of bribery and embezzlement in a scandal that began with South Korean president Park Geun-hye. Lee, who wasn’t present for the first stage of the hearing in Seoul on Thursday, denies all charges. Samsung shares have surged despite—or possibly because of—the scandal.
Akzo Nobel rejected a takeover offer from the US. The Dutch paints and chemicals maker, which owns Dulux, said the unsolicited $22 billion offer from PPG Industries was too low. The offer, however, has made Akzo think about the benefits of spinning off its chemicals business. The company’s shares jumped more than 14% (paywall) Thursday morning.
Shell offloaded Canadian oil interests. Selling off its Canadian oil sands assets will bring in around $7.25 billion and help the company reduce debt as part of its $30 billion divestment program. Extracting crude from oil sands has become less profitable as oil prices have dropped and many oppose the practice on environmental grounds.
Uber promised to stop “greyballing” local authorities. The company had used a program called Greyball to identify the accounts of local regulators trying to keep an eye on the company’s service—or conduct a sting operation against it—and do things like send them nonexistent cars. Uber said it would keep using the tool for testing new features and other purposes.
China’s producer prices surged at the fastest pace since 2008. They rose 7.8% last month from a year earlier, compared with a 6.9% increase in January. That beat expectations and lifted the outlook for global reflation. But the sustainability of such momentum is doubtful.
Quartz obsession interlude
Jenny Anderson on “adulting school” and its limited benefits: “Somehow, Gen X became the suits. Not through any superior abilities or unique confidence, but through paying a lot of bills and taking care of children—a remarkably effective adulting strategy. Their struggles were no less fraught or self-indulgent: They just didn’t feature on Facebook or Instagram.” Read more here.
Matters of debate
Marine Le Pen is luring French women to the far right. Her promise to staunchly defend women against Muslims, immigration, and globalization is gaining traction.
Alexander Hamilton was a dangerous reactionary. The current darling of American liberals thought democracy was a disease.
Blockchain will do to banks and law firms what the internet did to media companies and ad agencies. Firms unprepared for the changes will be less likely to thrive.
Surprising discoveries
It was eyes, not legs, that led fish onto land. Fossils show that the size of eyes nearly tripled before the water-to-land transition.
Malta’s “Azure Window” landmark collapsed into the sea. The rock arch was shown in Game of Thrones and many other TV shows.
The CEO of America’s biggest meat processor is betting on a meatless future. Tom Hayes of Tyson Foods believes plant-based “meats” have a place on future kitchen tables.
Americans are having much less sex than in years past… The cause is still up for debate, but it doesn’t seem to be linked to more work or internet porn (paywall).
…Except perhaps on the elite version of Tinder. The secret invite-only service is available to the ridiculously good-looking, fabulously famous, and mega-rich.
Our best wishes for a productive day. Please send any news, comments, big-eyed fish, and plant-based meats to hi@qz.com. You can follow us on Twitter for updates throughout the day or download our apps for iPhone and Android.