🌎 Bond rush

Plus: Looking beneath the surface of America's Q3 FDP figures Was this newsletter forwarded to you? [Sign up here]( [Quartz]( October 27, 2022 [View in browser]( Sponsored By Good morning, Quartz readers! Here’s what you need to know The US TreasuryDirect website struggled with demand for government I bonds. The website experienced outages as investors [rushed to buy the securities](, which pay a 9.62% interest rate if bought before Oct. 28. Elon Musk brought a sink to the Twitter headquarters. The billionaire looks set to complete the $44 billion takeover and [wants the news to “sink in.”]( Argo AI shut down. Ford and Volkswagen [pulled the plug]( on their driverless vehicle experiment, citing issues with taking it mainstream. Ye showed up uninvited at Skechers’s LA offices. The footwear company [issued a statement]( saying the rapper, who was [dropped by Adidas]( this week, was escorted out and that there’s no intention of working together. Mark Zuckerberg’s metaverse pitch failed to convince investors. Meta shares fell 20% after posting another quarter of [declining profits](. The company was also hit with [a $24.7 million fine]( for violating campaign finance disclosure laws. The world is on track for a devastating 2.5 degrees Celsius rise in temperatures by 2100. As greenhouse gas emissions [continue to rise](, climate pledges [aren’t currently meeting the goals]( set in the 2015 Paris Agreement, threatening livelihoods and species’ survival. The Miss Universe pageant will be owned by a woman for the first time. Jakkaphong “Anne” Jakrajutatip, the Thai CEO of JKN Global Group CEO and a trans celebrity, [paid $20 million]( for the organization. Sponsor content by The Bill & Melinda Gates Foundation The Future of Progress. Tackling two of the greatest challenges of our time — a broken food system and gender inequality — present enormous opportunities to improve the lives of millions of people.[The 2022 Goalkeepers Report]( explains how the world can accelerate solutions to these problems with human ingenuity, innovation, political will, and sustained funding. [Learn more]( What to watch for After recording two consecutive quarters of negative growth, the Bureau of Economic Analysis is expected to announce today that the US economy expanded during the third quarter. Various analysts have been revising their GDP growth estimates, [pointing toward a healthy, albeit momentary, rebound](. Consumer spending has not dropped (yet) and employment numbers remain robust. Amid persistent inflation and increasing interest rates, a strong GDP reading might help Democrats convince voters that they can curb economic turmoil ahead of the midterm elections on Nov. 8. One of the factors contributing to GDP growth this past quarter was a shrinking trade deficit powered by a decrease in imports, as retailers adjusted their inventory levels. But in the long run, inflation remains the beast to tame. The combination of the rising cost of living and the Federal Reserve’s ongoing attempts to tackle it by hiking interest rates—thus strengthening the dollar and hurting exports—[is still predicted]( to cause a recession. Biodiversity is a business problem On the heels of two [damning]( climate change [reports](, businesses are in a game of tug of war on protecting biodiversity. On one side are those that [want more regulation](, and on the other are those actively lobbying against it. Sweden’s IKEA and India’s Tata Steel are among 330 firms from around the globe that recently signed an open letter calling on world leaders to strengthen biodiversity rules by 2030. But there’s a long road from pledge to action—and companies aren’t great at [reaching their own goals](. If you’re skeptical, you probably should be—[greenwashing can be hard to spot](. You can bet we’ll be watching for it at the UN’s upcoming climate change conference in Sharm el-Sheikh, Egypt. Quartz reporter Tim McDonnell will be on the ground reporting, and you can get updates sent directly to your inbox with our Need to Know: COP27 pop up newsletter. [Sign up today](! RIP 🪦 YouTube’s ad revenue YouTube’s ad division saw its revenue decline for the first time since the company started separately reporting those numbers in 2019. The video streaming service, owned by Alphabet, [was the weakest link]( in the parent company’s earnings last quarter, too. But beyond YouTube, even core search ads are growing slower for fellow Alphabet subsidiary Google. It’s emblematic of a broader trend of falling ad revenue that’s affecting rivals across the industry. ✦ Want to dive into what else is floating in Alphabet’s soup? The next Weekend Brief will explain YouTube’s effect on the Google parent’s bottom line, as well as the Android-maker’s [global antitrust snafus](. Don’t miss out on the email—grab a Quartz membership at our [steepest discount yet](. Message from Our Partner Obsessed with geopolitics? We are too. Gain a deeper understanding of the world by signing up for Foreign Policy’s free Morning Brief. You’ll join thousands of readers who rely on FP’s flagship newsletter for a thorough understanding of what’s happening beyond the United States every day. [Sign up]( Quartz’s most popular 💸 [Ghana’s currency is slumping because of its dollar-buying spree]( 🍎 [Ordering groceries online for delivery is no longer a luxury]( 🏳️‍⚧️ [Behind-the-scenes of my trans transition at work]( 😮‍💨 [India’s curbs on Alphabet are a blessing for local payment providers]( 👑 [Rishi Sunak and his wife are richer than King Charles]( 💬 [Italy’s first female prime minister will use the masculine form of her title]( Sponsor content by The Bill & Melinda Gates Foundation The Future of Progress. Tackling two of the greatest challenges of our time — a broken food system and gender inequality — present enormous opportunities to improve the lives of millions of people.[The 2022 Goalkeepers Report]( explains how the world can accelerate solutions to these problems with human ingenuity, innovation, political will, and sustained funding. [Learn more]( Surprising discoveries Zombies are basically keto. Paired with a wonky hypothalamus, it’s no wonder the carb-deficient undead have a [brain fog problem](. Six new types of frog were found in the Ecuadorian Andes. One species was [named resistencia]( (resistance) to honor Latin America’s environmental activists. Each British prime minister gets a personalized podium. The speech-making accoutrement [can cost anywhere from]( $2,300 (£2,000) to $4,600 (£4,000). Video games could improve memory and motor skills in adolescents. Kids, [print out this study]( if you want to bargain for some extra screen time. Bees may be able to affect weather. Hives can [electrify the air]( to the same degree as a thunderstorm.  Our best wishes for a productive day. Send any news, comments, zombie cookbooks, and electric bees to hi@qz.com. Reader support makes Quartz available to all—[become a member](. Today’s Daily Brief was brought to you by Sofia Lotto Persio, Ananya Bhattacharya, Julia Malleck, and Morgan Haefner. 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