Delhi’s water crisis, oil standoff in Houston, Mastercard selfie ID
Good morning, Quartz readers!
What to watch for today
An oil standoff in Houston. Saudi oil minister Ali Al-Naimi, seen as the world’s most powerful oil policymaker, comes face-to-face in Texas with the US shale producers who blame him for the collapse in oil prices. Al-Naimi’s speech at a conference in Houston is his first appearance in the US since OPEC’s controversial decision to 2014 to keep pumping oil when supplies were overflowing.
Mr. Wang comes to Washington. Chinese foreign minister Wang Yi’s three-day visit comes during a tense period, as the two countries spar over China’s militarization of disputed islands in the South China Sea. They will try to overcome their differences in order to problem-solve North Korea’s nuclear saber-rattling.
US retailers get their report cards. Home Depot’s fourth quarter results, expected to be better than the same period last time, will offer hints on the well-being of the US housing market and big-ticket consumer spending. Analysts don’t expect much good news for Macy’s, which had a terrible holiday season.
While you were sleeping
India’s capital struggled with a massive water crisis. More than 10 million people in Delhi were without water on Monday after protesters outraged by caste job quotas damaged one of the city’s major canals. The army took control of the canal, but officials said it will take three to four days to fully restore water service.
The US and Russia agreed to a limited ceasefire in Syria. Rebel groups criticized the deal because the “cessation of hostilities” starting Saturday won’t apply to air strikes against the Islamic State or the al Qaeda-affiliated Nusra Front. Free Syrian Army officials said that loophole would allow the Russian-backed Syrian regime to continue to seize territory.
Apple urged the US to start an encryption panel. The tech company suggested the White House start a commission on encryption issues, after the FBI asked for a so-called “backdoor” into a terrorist’s iPhone last week. FBI director James Comey countered by saying that his agency “can’t look the survivors in the eye, or ourselves in the mirror, if we don’t follow this lead.”
Mark Zuckerberg told mobile phone companies not to fear. The Facebook CEO told a mobile industry conference that he wants a “symbiotic” relationship between carriers and his Messenger and WhatsApp services, which have decimated the once-lucrative SMS business. Separately, Zuckerberg said Facebook is “pretty sympathetic” to Apple in its standoff with the FBI.
Honeywell is reportedly in talks to buy United Technologies. The two industrial giants have discussed a deal sometime in the last two weeks, Reuters reported. The news comes after United Tech announced a $1.5 billion plan to cut costs, citing weak growth in China, Latin America, and Europe.
Quartz obsession interlude
Tim Fernholz on what to make of Bernie Sanders’s economic proposals. “The controversial projections behind Sanders’ plan, by economist Gerald Friedman of the University of Massachusetts-Amherst, rely on the conviction that massive fiscal spending can be a huge growth engine.” Read more here.
Matters of debate
Apple has already won its battle with the FBI. Now it should comply with the agency’s request.
Illicit drugs are a market to be tamed, not a war to be won. Cartels face the same economic pressures as other businesses.
Single women are the most important voters in the US. Their hopes and dreams are are driving progressive politics.
Surprising discoveries
NASA declassified strange music from the dark side of the moon. One astronaut described it as “a whistling outer-space-type thing.”
There is a man who narrates his dreams as he dreams them. His sleep-talking is a boon to neuroscience.
The gender gap applies to eBay, too. Buyers will pay 20% more for a new item when the seller is a man.
MasterCard will soon begin accepting selfies. They are more secure than passwords for verifying online payments.
Hungary is the world’s top destination for dental tourism. To save money on expensive tooth work, fly to Budapest.
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