Quartz Daily Brief—Greece’s terms, Caterpillar’s taxes, Jeb Bush, limpet teeth
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 transparency plan. Analysts say the ECB could learn from the Fed’s lessons as it starts easing next month.
Greece asks for a loan extension. It will ask its euro-zone creditors for a four-month extension (paywall) on its €240 billion ($272 billion) bailout, but won’t commit to continuing the austerity measures that the previous government agreed to. The ECB has also reportedly approved a two-week emergency liquidity loan for Greek banks.
Wal-Mart talks about the holidays. An earnings report from the world’s largest retailer will tell us about American consumer behavior, in particular whether lower fuel prices are prompting people to spend more on other stuff. It will also reveal how Walmart did at luring online shoppers back into stores over the holiday season.
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
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 and a Senate investigation. The company is one of several under investigation for keeping profits offshore; it’s contesting the ruling.
More reports on 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.
Ukraine retreated, Russia rallied. Kyiv’s forces pulled out of Debaltseve after separatists overran the contested eastern town, in defiance of a ceasefire that’s looking less and less like one. Russian president Vladimir Putin urged Ukrainian troops in the town to surrender. Following the news, Russian stocks went up, as did the ruble.
Nigeria reported killing 300 Boko Haram fighters. The latest success against the Islamist group happened during an operation to reclaim 11 towns and villages, part of a larger push as Nigeria’s neighbors, Cameroon, Chad and Niger join the fight. Despite similarities between Boko Haram and ISIL, US officials say the two are unlikely to join forces.
Jeb Bush marked out his territory. The youngest scion of the Bush clan and possible Republican presidential candidate distanced himself from his father and brother, saying “I am my own man” in a foreign policy speech. He 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 known to man… limpets’ teeth! “Barber used a 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
Plaudits to Apple for tackling forced labor in Asia. But there’s more it could be doing.
Ukrainian anti-Semitism is complicated. But the pro-Russian rebels are among the worst offenders.
Women’s advancement in tech also depends on men. On “mansplaining” and making men part of the solution.
Racial biases affect whom you date. Maybe it’s time you examined them.
Surprising discoveries
Pussy Riot have weighed in on US police racism. It’s the Russian punk band’s first song in English.
Pot tricks your brain to think you are hungry. Scientists have discovered the neurological reason for post-marijuana munchies.
DNA can be altered to fight HIV. Scientists are working on a revolutionary vaccine.
The Niagara Falls have frozen. And they look breathtaking.
Selfies are the new marriage proposal. Yes, we’ve stooped that low.
Climate change will turn New York City into a swamp. You might want to reconsider buying that Soho loft.
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