š Chips on the side
Good morning, Quartz readers!
Hereās what you need to know
A new Huawei phone runs on an unexpectedly advanced chip. China has been barred by sanctions from accessing the latest semiconductor technology, but its own industry is making chip breakthroughs.
Saudi Arabia and Russia agreed to extend oil production cuts. US president Joe Biden warned of consequences if the former partnered on cuts with the latterāand everything that relies on transport will most likely see costs rise.
Arm is looking for a smaller IPO than initially reported. At $4.87 billion, the chipmakerās debut on the New York Stock Exchange would still be the yearās biggest.
The Munich auto show demonstrated Germanyās blind spot. China has left the former industry leader in the dust by investing into EV technology.
Revenge is an insurance policy best shopped for in Hong Kong
After three years of pandemic travel restrictions, Hong Kongās borders are open once again. And mainland Chinese visitors are flying to the city on shopping sprees for, you guessed it, insurance policies.
Buying insurance plans in Hong Kongāwhere, unlike in mainland China, the local currency can trade freely in international marketsāhas long been a workaround to Beijingās capital controls. By buying Hong Kong insurance policies, mainlanders can transfer capital overseas.
After years of chaotic covid management and amid a shaky economic situation, there are a lot of reasons why Chinese people might want to take life and health protection into their own hands, Mary Hui explains.
Elon Musk is blaming the Anti-Defamation League for Xās financial problems
Musk says he has no choice but to sue the prominent Jewish civil rights group for encouraging advertisers to pause their spending on Twitter (now X). ADL claims hate speech was spreadĀ on the platform, which Musk denies.
Letās take a look at just the last year (not to mention the last decade or so) of accusations of hate speech on Twitter/X:
Jan. 24, 2023: A lawsuit filed in Germany accuses the platform of mishandling Holocaust denial
Feb. 9, 2023: The Center for Countering Digital Hate reveals Twitter stands to earn $19 million annually from ads on just 10 toxic reinstated accounts
April 5, 2023: Germany threatens to fine Twitter ā¬50 million ($54 million) per case for failing to act on antisemitic speech takedown requests in the country. At the time, there were around 600 cases.
That just gets us to spring. Ananya Bhattacharya flips through the rest of the calendar.
Canada burned through an annual wildfire record twice over
The number of fires burning isnāt much bigger than normal; itās that theyāre just so much worse than they should be. Clarisa Diaz explains what happenedāand whatās going to keep happening for weeks to come.
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Surprising discoveries
More and more American executives are hanging around the office way too long. Wasnāt early retirement supposed to be the goal?
Smuckers knows Uncrustables are really for adults. People outside of the USāconsider getting on board with weird frozen PB&J empanadas.
Be proud that you stick your tongue out while your hands are busy using tools. It means your brain is functioning properly!
A lot of space is taken up by unused solo office desks. The people want small collaborative spaces in their offices.
Chinese construction workers drove through the Great Wall. Shortcut: achieved. Damage: irreversible.Ā
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