Quartz Daily Brief—Greek reform, US port strike ends, Oscar rundown, speed TV
Good morning, Quartz readers!
What to watch for today
Greece presents a reform agenda. Greek officials have been working round-the-clock to outline new policies the indebted country’s creditors will approve, part of the deal reached to extend its bailout.
HSBC reports on the year. Expect the numbers to be overshadowed by questions about allegations of money laundering at its private Swiss bank and chief executive Stuart Gulliver’s own finances. An investigation into 100,000 of its clients turned up a roster of politicians, royals, and arms dealers, including Gulliver, who allegedly hid over $7 million.
BHP Billiton shows its wounds. The Anglo-Australian mining firm is expected to report falling profit in its petroleum and iron ore businesses. Investors will also be looking for an update (paywall) on a $15 billion spin-off of aluminum, nickel, and other “non-core” assets.
Over the weekend
Valeant made its biggest acquisition yet. The Canadian pharmaceuticals giant will pay $10.1 billion in cash for Salix Pharmaceuticals, best known for making a drug to treat irritable bowel syndrome. Valeant, which tried to buy the maker of Botox last year, recently said it would slow down its acquisition spree and pay down debt.
Prada fell short of expectations. The Milan-based luxury goods maker reported €3.55 billion ($4 billion) in revenue in 2014, down 1% from a year earlier and below an expected €3.57 billion. Prada blamed a global slowdown in demand for luxury goods for its lack of sales.
US dockworkers ended a nine-month strike. US labor secretary Tom Perez negotiated an end to the strike that reduced productivity at some ports by almost half, and led to spoiled goods and a shortage of french fries in Japan.
Hollywood celebrated its own. The 87th Academy Awards winners include Whiplash (for cinematography) and Patricia Arquette (for best supporting actress). Check here for the full rundown.
Al-Shabaab encouraged more mall attacks. The Somali militant group released a video calling for terror attacks on shopping centers in the US, Canada, and Britain. The group claimed responsibility for a mall attack in Nairobi in 2013 that left more than 60 people dead.
The cease-fire in Ukraine began. Ukrainian troops and pro-Russian rebels exchanged dozens of prisoners under an agreement brokered by European leaders on Feb. 12. Last week the rebels violated the deal by seizing a strategic town.
At least 65 people died in a Bangladesh ferry accident. A ferry carrying more than 140 people capsized on the Padma River after it was hit by a cargo vessel on Sunday.
Quartz obsession interlude
Gwynn Guilford on how China’s island-building spree is about more than just military might. ”Shallow reefs in the Spratly Islands have sprouted white-sand outcrops, sporting what look to be Chinese military facilities, according to satellite imagery published this week by IHS Jane’s Defence Weekly, a consulting company. The Spratlys are more strategic than they are substantial; under international law, the archipelago could have exclusive claim to the bounteous fishing grounds in the surrounding seas, and to the potentially oil-rich seabed.” Read more here.
Matters of debate
It’s sexist to ask “Who are you wearing?” on the red carpet. Actresses grilled about their outfits don’t get asked about their careers.
Don’t make goals, make habits. Goals only make you feel like you’re not good enough yet.
Robot workers are creating human jobs. The president of one robotics firm says the industry needs more skilled workers to develop and operate them (paywall).
Lenovo doesn’t deserve consumers’ trust. Installing adware on its laptops is not only annoying, it is unsafe.
Facebook was right to spend $19 billion on WhatsApp. Messaging apps are central to all smartphone use.
Surprising discoveries
Cable companies speed up their TV shows to fit in more ads. Doing so raises actors’ voices, and cuts up to two minutes from each episode.
Reddit tricked Google. Users tricked Google’s algorithm into showing a picture of a potato when people searched for “gaming console.”
Americans aren’t studying European languages. But the availability of Chinese, Arabic, and Korean classes is rising.
Someone bought Warren Buffett’s old car for $122,500. A customized 2006 Cadillac DTS sold for $115,000 more than its model-expected resale value.
America is looking for a humane way to execute people. Botched lethal injection rates are rising.
Our best wishes for a productive day. Please send any news, comments, custom Cadillacs, and slightly-worn Oscar outfits to [email protected]. You can follow us on Twitter here for updates throughout the day.