Good morning, Quartz readers!
WHAT TO WATCH FOR TODAY
Donald Trump unveils the blueprint of his tax cuts… The US president reportedly wants to apply a 15% tax rate on both mom-and-pop companies and large corporations, which currently face a much higher rate. The slashed rate would also apply (paywall) to entities like his own real estate conglomerate—opening a line of attack for his opponents.
…And briefs the US Senate on North Korea. All 100 senators have been summoned to a rare joint meeting at the White House with the president and senior cabinet officials to discuss Pyongyang’s nuclear program.
Earnings, earnings, earnings. Among the many companiesreporting results (pdf) are Twitter, PayPal, PepsiCo, Hershey, Boeing, and Procter & Gamble. The day could be especially painful for Twitter, which is expected to report a revenue drop amid struggles to find new users and advertisers.
WHILE YOU WERE SLEEPING
China launched its first domestically built aircraft carrier. The nation could eventually have a fleet of up to six as it tries to project power further afield. For Chinese president Xi Jinping the launch was a chance to bolster his commander-in-chief credentials ahead a key Communist Party meeting later this year.
AT&T lost wireless customers for the first time last quarter.Admitting it was slow in reacting to competitors offering unlimited data plans, the US carrier said it lost 191,000 postpaid subscribers (those who pay bills monthly), versus expectations it would add about 100,000. Customers want to stream video without worrying about exceeding a cap.
McDonald’s dropped plans to sell shares in its Japan unit. It said early last year it might sell the business, which had been struggling after a series of food scandals. But last month the unit reported same-store sales rose almost 17% from a year ago. Shares in McDonald’s hit an all-time high yesterday after the company reported a strong quarter.
Australia notched its highest consumer price inflation since 2014. Petrol, education, and health care all got more expensiveDown Under. The news was welcome in a nation worried about deflation, but at just over 2% the quarterly figure still underwhelmed—meaning don’t expect to see interest rate hikes anytime soon.
QUARTZ OBSESSION INTERLUDE
Tim Fernholz on Donald Trump’s war on Canadian lumber socialism. “The lumber debate between the US and Canada began in 1982. It is driven by fundamental factors: In the US, much timber land is privately owned and competitively priced. In contrast, Canada’s vast timber reserves are mostly owned by the government and leased over the long term to producers.” Read more here.
MATTERS OF DEBATE
French politics have moved beyond left and right. Instead, the far-left and far-right are converging.
People are scared of artificial intelligence for all the wrong reasons. Robotic cars are far less dangerous than AIs making decisions about policing and health care.
The 😬 emoji is the best emoji. It allows us to acknowledge the low-key stress and anxiety we feel every day.
Astronomers are investigating an aurora named “Steve.” The purple-green streak was created by a ribbon of ionized gas over Alberta, Canada.
Researchers created an artificial womb for livestock (and soon, for humans). Fetal lambs lived in the fluid-filled sack for four weeks.
Apple wants the cool kids to hang out at its stores. Retail chief Angela Ahrendts is overseeing a revamp featuring “Genius Groves” and lots of foliage.
Brazilian bandits stole $40 million from a heavily guarded vault in Paraguay. The gang killed one police officer in its overnight raid on a cash storage facility.
A dead woman’s Fitbit led to her husband’s murder arrest. It showed she was alive after he claimed she was shot by an intruder.
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