š China outshines the world in solar
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Hereās what you need to know
China outpaced the U.S. in developing its solar power industry in spite of tariffs. Last year alone, China installed more solar energy capacity than the U.S. accumulated altogether.
UBS CEO Sergio Ermotti brushed off recession fears. But even so, a looming U.S. economic slowdown is possible.
The Dow rose due to a decrease in inflation and the growing likelihood of interest rate cuts. The annual rate of inflation dropped to its lowest level since 2021.
Snickers maker Mars bought Pringles maker Kellanova for $36 billion. It marks one of the biggest sweet-and-salty deals of the year.
Victoriaās Secret nabbed the CEO of Rihannaās lingerie brand, and it excited investors. Shares of Victoria Secret increased by 13% following the announcement.Ā
Elli Lilly warned companies to stop selling off-brand weight loss drugs. The pharmaceutical giant has sent multiple cease-and-desist letters to telehealth companies, wellness centers, and even medical spas.
Homeowners are rushing into refinancing
Out with the old, and in with the new rates. Mortgage refinancing applications are up as homeowners secure lower interest rates and adjust their current loan terms for better payments.
Nearly half of those applications were to refinance home loans. Quartzās Rocio Fabbro has more on why this is a signal that the housing market is showing signs of a bounce back.Ā
Food gimmicksā¦ are they more than just the hype?
The business of fast food often pushes restaurant chains to try some adventurous menu items, like a Doritos Locos taco shells, or bunless sandwiches, maybe even a pickle flavored slushie.
While the gimmicks give chainās some media buzz and lure curious foodies, it may not always mean itāll generate sales. Quartzās Francisco Velasquez has more on why chains need to strike a delicate balance between gross and genius.
More from Quartz
š Walmart Q2 earnings. What to watch as inflation coolsĀ
š Texas is suing GM for collecting and selling driversā dataĀ
āļø A hedge fund wants to take over Southwest Airlinesā board
š¬ A United Airlines Boeing plane was diverted after āa possible engine issueā
š¢ A finance CEOās $300 million Ponzi scheme funded a ālavishā lifestyle, authorities say
š¤ Ex Googleās CEO blames remote work for the company losing its AI edgeĀ
š§ Google lost a big antitrust lawsuit. Now it might get broken up
Surprising discoveries
Energy drink maker Celsius is cooling down its competition. In just over a decade, Celsius has gone from a market underdog to a $9 billion powerhouse.
Scratch the smoke break. U.S. cigarette smoking has hit a 80-year low, with only 11% of Americans taking a drag.
Coca Cola and Oreo are becoming besties. The beverage and cookie giant are teaming up to launch two limited edition treats, and some snazzy merchandise, too.
ChatGPTās catching catfish. The app is being used by women and men to estimate whether potential suitors are lying about their height.
Earthās not the only planet with water. Hidden water was discovered beneath Marsā surface, according to new data from NASAās Insight lander.
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Our best wishes on a safe start to the day. Send any news, comments, Celsius drinks, Oreos and Cokes to [email protected]. Todayās Daily Brief was brought to you by Francisco Velasquez & Morgan Haefner.