đ Nigeria's new oil era
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Africaâs largest oil refinery began production in Nigeria. The $19 billion Dangote Petroleum Refinery, which can churn out 650,000 barrels a day, aims to reduce the countryâs reliance on imports.
Former US president Donald Trump won the Iowa caucus. The vote kicks off the primary season for the 2024 US presidential election, with Republican voters set to choose their nominee in New Hampshire next week.
Lai Ching-te of Taiwanâs Democratic Progressive Party was elected president. Itâs the ruling partyâs third consecutive victory and will maintain the status quo, whereby the island governs itself but doesnât formally declare independence from China.
Microsoft will offer individuals and small businesses subscriptions to its AI Copilot. The company is attempting to grow its sales beyond large corporations with the $20-a-month offer.
A US companyâs lunar lander will soon burn up in Earthâs atmosphere after a failed moonshot. Astrobotic Technology is working with NASA to track the landerâs path, which should end Thursday.
The biggest Gates Foundation budget yet
The Bill & Melinda Gates Foundation approved its largest annual budget ever, committing $8.6 billion to help plug gaps in overall aid for health programs in the worldâs poorest countries.
Bill Gates and other representatives of the Gates Foundation are in Davos, Switzerland, this week for the World Economic Forum. There they will press the case for accelerating the production of health innovations that are already in the development pipeline, and making portable equipment and medicines more available in places with poor access.
To drive the point home, theyâll be wearing backpacks around Davos containing kits of life-saving productsâa one-dose HPV vaccine that prevents common cervical cancers, patches that can deliver vaccines without needles, and diagnostic test strips for identifying cases of malaria, to name a few. Find more of Quartzâs Davos coverage here, and sign up for our Need to Know: Davos 2024 newsletter to have dispatches delivered straight to your inbox.
Big fast food has some sizable advertising problems
If you think the burgers and fries you pick up in the drive-thru lane donât look like the ones in advertisements, youâre not alone. A Florida lawyer is getting at least 100 calls a month from people who want to sue the biggest names in fast food for just that reason.
Anthony Russo has taken on a handful of such cases in the past two years against McDonaldâs, Wendyâs, Arbyâs, Burger King, and Taco Bell for putting less meat than advertised in peopleâs burgers, sandwiches, and tacos (hereâs just a few examples, according to customers).
The cases have garnered both high-fives and eyerolls, with some fast food patrons clamoring for meatier dishes and others dismissing such lawsuits as the epitome of pettiness. In an interview with Quartz, Russoâever the cynic when it comes to large corporationsâsays not even lower inflation will change companiesâ behavior.
One big number: $90 billion
JPMorgan Chaseâs record net interest incomeâbank-speak for profit on its loansâfor 2023.
Thatâs a record not just for JPMorgan but for any bank, ever. To put it in context, the 31st-largest bank in the USâSalt Lake City, Utah-based Zions Bankâhas about that much in total assets. JPMorgan ended last year with nearly $4 trillion in its vaults.
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Surprising discoveries
Even if you think your burger is smaller than you expected, Burger King wants you to feel royal. Workers are now required to offer patrons cardboard crowns and tell them âyou rule.â
The US cut back on emissions last year. But not nearly fast enough to meet climate change goals.
The US Federal Highway Administration doesnât think signs should be fun. It says references like âO-H-I-WHOA! Watch your speed!â can be distracting to drivers.
Lush vegetation in the Amazon hid an ancient lost city for thousands of years. The civilization had a sophisticated network of roads and home structures.
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Our best wishes for a productive day. Send any news, comments, Burger King crowns, and highway sign suggestions to [email protected]. Todayâs Daily Brief was brought to you by Morgan Haefner.