Good morning, Quartz readers!
What to watch for today
China’s premier goes Down Under. Li Keqiang’s first official trip to Australia, lasting about a week, comes as China takes a bigger role in promoting free trade. Australia is trying to maintain its alliance with the US while also courting China, its top trading partner.
Rex Tillerson hosts a global coalition on ISIL. The US secretary of state will host counterparts from 68 countries in Washington to discuss the Islamist extremist group. For NATO foreign ministers, it could be their last chance to talk to Tillerson for a while—he’s skipping a big meeting of the alliance next month, unless they reschedule it to accommodate him (paywall).
An update on US existing-home sales. In January sales increased at the fastest pace in nearly a decade, according to the National Association of Realtors. Numbers for last month are expected to show a slight slowdown, but inventories are still tight.
While you were sleeping
ING confirmed its being investigated for money laundering. The bank disclosed that it is the subject of a criminal probe over corruption and money laundering on page 232 of its annual report. ING said it could mean “significant” fines, but wouldn’t comment on a Dutch newspaper report that the probe was linked to bribes paid to the daughter of the former president of Uzbekistan.
A North Korea missile launch failed. The US military detected a missile that appeared to explode seconds after taking off, with South Korea confirming. Experts believe the rogue nation is trying to develop an intercontinental ballistic missile that could strike the US.
Hermès toasted an “exceptional” year. The French luxury goods company said the stars of “currency, growth and collections“ (paywall) aligned in 2016 to boost it to a profit of over €1 billion ($1.07 billion). Iconic handbags like the Birkin drove sales in Europe, with tourists visiting the UK taking advantage of the weak pound. The luxury-goods sector is perking up after a long slump—earnings from Tiffany and Gucci were up as well.
PPG tried again to win over Akzo Nobel. And failed. The Dutch paint company rejected the second takeover bid in three weeks (paywall) from its US rival, saying it undervalued the company and it wasn’t a good deal for shareholders, customers, and employees. PPG’s bid earlier this month valued Akzo Nobel at around $20 billion
Airbnb doubled its investment and changed its name in China. Where Uber failed, the home-sharing giant aims to succeed. The new name is Aibiying, which means “welcome each other with love.” The company’s China unit is also tripling its workforce to better compete against domestic rivals, chief among them market leader Tujia.
Dozens were killed in an airstrike on a school in Syria. The Syrian Observatory for Human Rights said at least 33 people sheltering in the school were killed in the strike, which was carried out by the US-led coalition against ISIL.
Quartz obsession interlude
Oliver Staley on how the scandal rocking Thinx shows why HR departments exist: “Agrawal encouraged a rambunctious, sexually explicit work environment where boundaries were not only crossed, but obliterated… So where was HR in all of this? Oh yeah: Thinx hadn’t bothered hiring an HR director.” Read more here.
Matters of debate
The US should stop building airports. Upgrading existing infrastructure would create more growth opportunities.
Losing weight won’t make you happy. Eating a balanced diet, however, reduces the risk of depression.
It’s time for remote workers to return to the office. Distributed workforce pioneer IBM is demanding that employees return to the mothership.
Surprising discoveries
Spain had an outbreak of cannibalism 10,000 years ago. New evidence suggests that hunter-gatherers relied on a convenient source of protein.
Bots are learning to speak their own language. There’s no way to translate it into something humans can understand.
Jane Austen faked her own marriage—twice. The author, who wrote about socially advantageous pairings, registered two phony announcements at her father’s parish.
GIFs can be a deadly weapon. A man is facing a 10-year prison sentence for allegedly sending a strobing image to a journalist with epilepsy.
A snake was really found on a plane. The pale yellow creature was forgotten by a passenger on a commuter flight to Anchorage, Alaska.
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