Quartz Daily Brief—Apple’s car batteries, Uber’s extra billion, ISIL’s organ farming, Vice’s Vegas splurge
Good morning, Quartz readers!
What to watch for today
The European Central Bank drops the veil. It releases minutes of the January meeting that took the historic decision to go ahead with quantitative easing. The update will also be the first of its kind under ECB’s new push for transparency.
Greece asks for more time. It wants euro-zone creditors to grant a four-month extension (paywall) on its €240 billion ($272 billion) bailout, but won’t commit to continuing austerity measures. The ECB has also reportedly approved a two-week emergency liquidity loan for Greek banks.
The world according to Wal-Mart. Quarterly results from the world’s largest retailer will reveal whether lower fuel prices are prompting people to spend more on other stuff, and if Walmart managed to lure online shoppers back into stores over the holidays.
More earnings and data. Nestle, Danone, Nordstrom and Swiss Re are among those announcing earnings. There’s also inflation data from France, trade data from Japan, and consumer confidence for the euro zone.
While you were sleeping
An electric battery maker sued Apple. The lithium-ion battery firm A123 Systems, which received a $249 million US government grant before filing for bankruptcy in 2012, said Apple has poached a number of its senior engineers, adding to evidence that Apple is building its own electric car. Apple has also reportedly hired more than 60 former Tesla employees.
Uber decided to raise another $1 billion. Who needs an IPO? The on-demand car company expanded its latest fundraising round, which now totals $2.8 billion. And that comes on top of $4 billion that Uber has already raised, including $1.6 billion in convertible debt financing from Goldman Sachs.
A pared-down Sony predicted profits. The struggling electronics maker announced the partial spin-off of its video and sound units as it focuses on games and camera sensors, with the fate of the TV and smartphone business yet to be decided. CEO Kazuo Hirai predicted 500 billion yen ($4.2 billion) in annual earnings by 2018, sending Sony shares up more than 5%.
New Year’s fireworks turned Beijing’s blue skies in a toxic haze. The year of the sheep got off to a smoky start after thousands of pyrotechnic explosions combined with windless weather to cause hazardous air quality conditions.
The US taxman got tough on Caterpillar. Authorities told the heavy-machinery manufacturer it owes $1 billion in back taxes, after a review of Caterpillar’s Swiss subsidiaries prompted by a corporate whistleblower. The company—one of several under investigation for keeping profits offshore—is contesting the ruling.
New allegations of ISIL atrocities. The Iraqi ambassador to the UN said that the Islamic State is harvesting human organs for money, citing reports of bodies in mass graves missing kidneys and other parts. A local police chief also told the BBC that the group burned 45 people to death in the Iraqi town of al-Baghdadi.
Jeb Bush marked out his territory. The scion of the Bush clan and possible Republican presidential candidate distanced his foreign policy stance from his father and brother, saying “I am my own man“—although his advisors look awfully familiar. Bush took a hard line on Iran, stood firmly behind Israel, and criticized Obama for indecisiveness.
Quartz obsession interlude
Gwynn Guilford on the strongest natural substance in the world: limpet teeth. “Barber used a new technique involving atomic force microscopy to yank apart a sliver of toothy material nearly 100 times thinner than the breadth of a human hair. The substance he found is made of what he calls ‘an almost ideal’ mix of protein reinforced by fine mineral nanofibers called goethite—creating a structure so sturdy it outperforms spider silk, which scientists had believed to be the strongest biological material.” Read more here.
Matters of debate
Hong Kong is becoming just another Chinese city. It’s no longer a safe haven from mainland Chinese politics.
Ukrainian anti-Semitism is complicated. But the pro-Russian rebels are among the worst offenders.
Closing the tech gender gap requires men’s help. Tech bros are part of the solution as well as the problem.
Racial biases affect whom you date. Negative stereotypes could prevent you from meeting your soulmate.
Surprising discoveries
Vice’s CEO spent $300,000 on a Vegas steak dinner. The outsized tab was mentioned on the MGM earnings call.
Martin Luther King Jr. was a Star Trek fan. Or so says actress Nichelle Nichols, who played Uhura.
Pussy Riot is singing about US police racism. It’s the Russian punk band’s first song in English.
How pot give you the munchies. Chemicals in marijuana send “hungry” signals to the brain, even on a full stomach.
Climate change will turn New York City into a swamp. You might want to reconsider buying that Soho loft.
Our best wishes for a productive day. Please send any news, comments, Vice dinner menus, and unlikely Trekkies to [email protected]. You can follow us on Twitter here for updates throughout the day.