Quartz Daily Brief—Netanyahu’s victory, another health-insurance hack, the Fed’s forecasts, baritone horses
Good morning, Quartz readers!
What to watch for today
All eyes on the US Federal Reserve. The central bank will publish fresh economic forecasts and issue a policy statement that should contain some hints about when it will raise short-term interest rates.
A ton of Alibaba stock hits the market. Eighteen percent of the Chinese e-commerce giant’s shares are freed from the 180-day lock-up period that followed its September IPO. The market is bracing for a significant sell-off, though about a quarter of those US-listed shares are still restricted by Alibaba’s corporate guidelines.
Exxon’s CEO pays Russia a visit. Rex Tillerson is reportedly in Moscow to meet with state oil producer Rosneft and government officials to discuss the possibility of new western sanctions. Exxon’s drilling rights in Russia increased five-fold last year.
While you were sleeping
Netanyahu won Israel’s election. Prime minister Binyamin Netanyahu’s Likud party secured a convincing victory over the center-left Zionist Union after his vow to oppose Palestinian statehood gave him a last-minute bump from ultra-nationalist voters. Likud will still need to negotiate with Israel’s many small political parties to form a coalition, including a possible unity government.
Protesters besieged the European Central Bank. Some 10,000 demonstrators burned cars and threw projectiles at the ECB’s new €1.3 billion ($1.4 billion) headquarters in Frankfurt as they tried to disrupt the building’s opening ceremonies. Anti-austerity protestors blame the bank for recession and unemployment across the euro zone.
Kraft recalled 6.5 million boxes of macaroni and cheese. The food giant is pulling the boxes of its signature dish from stores after eight customers reported finding small pieces of metal in their meals. Kraft’s CEO resigned in December with the company mired in a sales slump.
Another US health insurance company was hacked. Premera Blue Cross confirmed that hackers accessed data that may include clinical and identifying information for 11 million people. If medical information was accessed, it could be the biggest breach of medical records ever.
Zara’s parent Inditex reported healthy profits. Like-for-like sales at the world’s biggest fashion retailer rose 5% last year to €2.5 billion ($2.65 billion), buoyed by economic confidence in Europe. The company confirmed plans to close smaller stores and build larger flagships in the year ahead.
Lufthansa pilots began a two-day strike. The pilots want keep their right to retire at 55 with 60% of their pay, and are also demanding better working conditions for younger pilots. Short- and medium-range flights have been affected already; long-haul and cargo flights could be cancelled tomorrow.
China’s property prices fell at a record pace. New home prices declined by 5.7% in February from a year earlier, the largest annual drop since current records began in 2011, and the sixth consecutive month of annual falls. A credit crunch and an oversupply of homes have hurt the market, but some analysts believe new central bank stimulus measures could turn things around.
Japanese exports rose more than expected. Exports increased 2.4% in February from a year earlier, compared with an expected 0.3% rise—a rare bright spot in a struggling economy.
Quartz obsession interlude
Tim Fernholz on fashion’s newest sensation. “While you can always find next season’s most cutting-edge looks in Manhattan’s Garment District, the most futuristic outerwear in New York City wasn’t on the runways during the recent Fashion Week. Rather, it’s to be found in a small studio in Brooklyn, where an émigré Russian engineer and a US-born artist are making the ultimate in bespoke couture—the space suit—into a fast-fashion product, one-size-fits-all.” Read more here.
Matters of debate
Being white means never having to say you’re sorry. Unlike minorities, whites don’t have to apologize for the behavior of others.
Lego still doesn’t get girls. Its new girl-centric “Lego Friends” line includes insulting beauty tips for 7-year-olds.
Human-driven cars should be outlawed. Elon Musk says they’re too dangerous—though they will take decades to phase out.
Sex education needs to include pornography. Young people can learn that porn is not what sex is really like.
Hillary Clinton needs a Democratic challenger. He or she could divert some of media’s blinding gaze.
Surprising discoveries
St. Patrick’s Day had a green-tinged celestial light show. Two massive solar flares triggered an amazing display of the aurora borealis.
Basketball players are being trafficked. A group of young Nigerian men were lured to the United States with false promises.
Sea levels may rise 11 feet more than expected. Antarctica’s ice could now be melting from below.
Recalling some memories can erase others. The mind actively downgrades rarely-accessed recollections.
Having a deep voice makes you attractive—if you’re a horse. Mares prefer stallions that can hit the lower octaves.
Our best wishes for a productive day. Please send any news, comments, rarely-remembered memories, and Lego minifig makeovers to [email protected]. You can follow us on Twitter here for updates throughout the day.