Good morning, Quartz readers!
What to watch for today
Air France negotiates layoffs. Labor unions will meet with the airline to discuss potential cost-cutting measures, ahead of the French airline’s quarterly earnings announcement next week.
A heads-up from Hasbro. The toymaker will webcast a presentationfrom the annual US Toy Fair, as investors wait to hear which toys it hopes will make it big this year.
While you were sleeping
The euro zone showed signs of life. Faster-than-expected growth in Germany and Spain overcame weakness in Italy and Greece to push fourth-quarter GDP up by 0.9% from a year earlier. The weaker euro, low oil prices, and anticipation of the central bank’s big bond-buying program were contributing factors.
Rolls-Royce issued a profit warning. The British engineering company blamed slower European and Chinese growth, as well as the low price of oil, saying it expects a maximum pretax profit of £1.55 billion ($2.39 billion), this year, down from last year’s £1.62 billion. Shares fell 3% in early trading.
Egypt sprung two Al-Jazeera reporters from a Cairo jail. Mohamed Fahmy and Baher Mohammed left prison after more than a year, following a court decision to release the pair on bail. The two reporters were jailed with Australian Peter Greste for allegedly supporting the Muslim Brotherhood, which all three men deny.
Spanish deflation deepened. Consumer prices fell for the seventh consecutive month, dropping 1.5% in January from a year earlier. Euro zone prices are expected to fall in value by 1% this year, before rising again in 2016.
Hong Kong hosted a blockbuster umbrella IPO. Jicheng Umbrella, China’s biggest umbrella exporter, saw its shares shoot up over 50%on the company’s first day of trading, just a few months after the pro-democracy Umbrella Movement paralyzed the city.
Xiaomi dipped a toe into the US market. The Chinese smartphone maker will sell earphones and fitness trackers within the next few months, but not its low-price, high-spec handsets—at least for now. Xiaomi is increasingly facing off against Apple’s iPhone, but patent issues may constrain its expansion.
Quartz obsession interlude
Matt Phillips on why women should be running the finance world.“It’s a well-established fact that pretty much everything on earth would run better if women were in charge. That dictum would seem to extend to the financial markets. Look no further than the February edition of the prestigious American Economic Review for a quick refresher on the rafts of research that lead to such a conclusion.” Read more here.
Matters of debate
Surprising discoveries
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