Good morning, Quartz readers!
What to watch for today
China bans too-good-to-be-true real estate investments. As of midnight Thursday, companies will no longer be able to promise “limitless price gains” or mention “feng shui and other feudal superstitions” in their ads.
US bank earnings season begins. JP Morgan Chase, Wells Fargo, and Citigroup are expected to report higher quarterly profits compared with last year, when low oil prices took a toll. But analysts are still wary of slowing economic growth and wondering if the Trump administration’s promised deregulations will actually materialize.
NASA unveils new discoveries about “ocean worlds.” The US space agency will discuss findings based on data from the Hubble telescope and Cassini probe of Saturn. Of particular interest is the Jovian moon Europa, which could be harboring life in its giant salt-water ocean, and will be visited by a NASA probe in the 2020s.
While you were sleeping
Donald Trump said he wouldn’t label China a “currency manipulator.” Going back on a signature campaign promise, the US president said he didn’t want to risk jeopardizing talks with Beijing about how to handle North Korea. He added that the US dollar was “too strong,” sending the currency to its lowest level since November.
The US and Russia discussed their trust issues. US secretary of state Rex Tillerson sat down with Russian president Vladimir Putin in Moscow, but failed to find common ground on much of anything. That includes who was responsible for a chemical weapons attack in Syria, which the US has blamed on Russian ally Bashar al-Assad.
The Borussia Dortmund bus bombing was linked to Syria. Authorities found an unsigned letter near the scene of the attack on the football team, which called for Germany to scale back its military involvement in Syria. A second document, posted online, suggested that a far-left group was responsible for the attack.
United will no longer allow cops to remove passengers from overbooked flights. CEO Oscar Munoz blamed a “system failure” that led to airport police violently dragging a passenger from a crowded plane. Dr. David Dao, the passenger in question, has launched a legal action and is holding a news conference on Thursday.
China approved the massive ChemChina-Syngenta merger. Beijing authorities gave their blessing for the $43 billion acquisition of the Swiss seeds and pesticide maker. The last thing standing in the way is approval from Indian antitrust authorities.
Quartz obsession interlude
Chase Purdy on the lab-grown meat company that’s about to go global. “The Good Food Institute has rapidly made a name for itself by offering strategic support to and lobbying on behalf of meat alternative companies. GFI thinks Brazil offers an opportunity to strike while the iron is hot, thanks to a recent scandal at Brazil-based JBS, the world’s largest meat packer.” Read more here.
Markets haiku
Trump: dollar’s too strong/ It makes it hard to compete/ The market responds.
Matters of debate
Stronger privacy laws could save the advertising industry. The status quo is a disaster for readers, publishers, and advertisers alike.
It’s increasingly difficult to defend active fund management. A new analysis finds that more than 90% of active funds trail their passive benchmarks over the last 15 years.
It’s time to start worrying about the Balkans. Ethnic tensions and territorial disputes are flaring up once again.
Surprising discoveries
The FBI created accidental pop art after a Warhol heist. The agency’s “wanted” poster embodies the true spirit of the artist’s work.
Tesla’s biggest challenge is employee parking. A rapidly growing workforce has led to old-fashioned chaos at the futuristic carmaker.
Italian gelato is going to the dogs. A shop in a southern seaside town has customized canine recipes to promote adoptions at a local shelter.
Ants have been farming for 65 million years. They long ago figured out how to domesticate a nutritious strain of fungus.
Jeff Bezos isn’t the best-paid Amazon employee. Amazon Web Services boss Andrew Jassy pulled in more than $35 million in stock and salary last year.
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