Quartz Daily Brief—US cyberhacks exposed, failed Greece talks, China’s housing bounce, Japan loves flip-phones
Good morning, Quartz readers!
What to watch for today
Fear and loathing in Europe’s markets. After Greece rejected a proposed ”technical extension” of its existing bailout package, the euro fell sharply. The country’s creditors said one more summit could be held on Friday; if that fails, Greece may run out of money at the end of February and have to leave the euro.
Will Ukraine’s peace deal last another day? While the fighting has stopped in much of eastern Ukraine, pro-Russian separatists are shelling Ukrainian troops in the town of Debaltseve. The rebels there have said they will not observe an internationally-brokered truce.
Vladimir Putin drops in on Hungary. The Russian president stops in Budapest to talk energy with prime minister Viktor Orban. The rare Putin visit to an EU member state is an attempt to show he still has allies in Europe, despite Russia’s meddling in Ukraine.
A look at the future of energy. BP launches its Energy Outlook 2035 with the “most likely” path for the global energy sector, based on “economic and population growth, as well as developments in policy and technology.”
UK inflation takes a dip. Consumer prices are expected to post a measly 0.4% year-on-year increase in January, due mostly to lower oil prices.
While you were sleeping
US cyber-hacking operations were exposed. Russia’s Kaspersky Lab (pdf) detailed how the NSA and other US spy agencies—referred to as the “Equation Group”—infiltrated hundreds of targets in Iran, Russia, China, and other countries over 14 years. In some cases the US burrowed deep into the code that operates hard drives and computers, even if they weren’t connected to the internet.
China’s real estate market showed signs of recovery. New home prices in 70 major cities fell 0.4% in January from the previous month—the ninth straight monthly decline. But prices in bigger cities like Beijing and Shanghai stabilized as mortgages became easier to obtain, suggesting the government’s stimulus efforts were have an effect.
A US train crash causes a fiery inferno. A train carrying crude oil through West Virginia derailed in a snowstorm, causing a massive explosion. Hundreds of residents were evacuated but amazingly no injuries were reportedly.
The GM ignition switch death toll grew. The faulty technology caused 56 deadly accidents (paywall), up from 52, and 87 injuries, up from 79, according to administrators for General Motors’ compensation fund who received new claims. The company has recalled 2.6 million cars.
An indictment in the US Muslim murder case. The man accused of shooting three young Muslims in North Carolina will be charged with first-degree murder, a grand jury decided. The police are investigating whether the killing was a hate crime.
Quartz obsession interlude
Cassie Werber on how the UK is renaming its famous sites to attract Chinese tourists. “Among the new names are Zhai Xing Ta (A Tower Allowing Us to Pluck Stars From the Sky), formerly known as the office tower The Shard; Yong Heng Zhi Ji (Wall of Eternity), once known as Hadrian’s Wall; and Wan Bo Tao Ci (Diverse Ceramics), also known as Stoke-on-Trent.” Read more here.
Matters of debate
Greece could be the next Cyprus. It risks a massive outflow unless it imposes capital controls (paywall).
George Washington gamed anti-slavery laws. He shuffled his slaves between states to avoid having to free them.
Wall Street is worried about Rand Paul. The presidential hopeful has dangerous ideas about the Federal Reserve.
Don’t count on China’s central bank. It doesn’t have much leeway to stave off an economic slowdown.
50 Shades of Grey is a hit, and that’s a good thing. It demonstrates the influence of female audiences.
Surprising discoveries
DARPA is developing a “cortical modem.” It would create a direct neural interface between brains and computers.
Japan loves flip-phones… Smartphone sales are falling and outmoded “dumbphones” are making a comeback.
…And giving back misplaced money. Tokyo residents handed in 3.3 billion yen ($278 million) to police last year.
Menopause lasts a lot longer than you think. Women may experience hot flashes for up to 14 years (paywall).
Martin Luther is still popular. An action figure of the 16th-century German theologian sold out in no time.
Our best wishes for a productive day. Please send any news, comments, vintage flip-phones, and Reformation action figures to [email protected]. You can follow us on Twitter here for updates throughout the day.