🌏 JPMorgan got there First

Plus: China’s influence on Paraguay's election Was this newsletter forwarded to you? [Sign up here](%2F%2Fqz.com%2Femails%2Fdaily-brief%2F/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/BmKHavhxUuXQSF1iB0soDUl9tTFCOh9HMqgYu46ffpA=298) [Quartz](%2F%2Fqz.com%2Femails%2Fdaily-brief%2F1850389949%2Fjpmorgan-got-there-first%2F/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/GkMs-IC2S8BdNBiSDbHY-LR1MDM5Jx6YT-7knq7deR8=298) May 1, 2023 [View in browser](%2F%2Fqz.com%2Femails%2Fdaily-brief%2F1850389949%2Fjpmorgan-got-there-first%2F/2/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/5wjqEG1jGj4ywxZYPMbq7KZpnFGp9qEyPYiisdysrPE=298) Sponsored By Good morning, Quartz readers! Here’s what you need to know JPMorgan Chase took over First Republic. The [largest bank](%2F%2Fqz.com%2Femails%2Fquartz-obsession%2F2161637%2Fa-beginners-guide-to-jamie-dimon/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/wdFI3yi_ZuLfLoMuwz8eP8ALmsEUw5ZmByTFGg3JsRA=298) in the US [acquired all of First Republic’s deposits](%2F%2Fwww.cnbc.com%2F2023%2F05%2F01%2Ffirst-republic-bank-failure.html/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/pQ28QPeWm9UYLpQbBYOA3D61GqGseWT4NCp7vISHOag=298) after it was seized by regulators, becoming the third US bank to fail since March. Google lost its bid to dismiss a wide-ranging antitrust case in US federal court. That [renews a federal investigation](%2F%2Fqz.com%2Fgoogle-antitrust-case-federal-court-loss-1850387117%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850389949/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/2TOmmXqIuGEMLhUfO4n2VzaREbQVm4Otbofe9ipjuXs=298) into the company’s dominant advertising business. Africa’s largest power firm is shedding $55 million a month. Theft and corruption are stripping Eskom of its profits and [plunging South Africa’s economy into darkness](%2F%2Fqz.com%2Fde-ruyter-says-corruption-in-south-africa-power-firm-1850385551%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850389949/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/G9hnbAvUzUmeRfjfXwjHcA0yJVRnOwOvUFJ4OrS7GTg=298). The Glazer family got an earful over its potential Manchester United sale. Demonstrators rallied against the owners yesterday ahead of their deal announcement, [which could come this week](%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2023-04-30%2Fman-u-fans-protest-against-glazers-as-club-s-sale-decision-looms/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/PfSBAcrqslrJucABIw13mxwg5e3p8j2egVzstOPBkpw=298). Sponsor content by ADP [ADP]( While business today is more unpredictable than it was yesterday, the possibilities for success are endless. At ADP, we turn unpredictability into an advantage using data driven insights to design HR solutions to help businesses of every size work smarter, so they can think beyond today and find even more success tomorrow. Learn more at Why ADP. [Learn More]( US governments are spending so much they’re propping up GDP It’s not news that government spending boosts gross domestic product. But the latest GDP numbers in the US suggest that government spending is also increasing private investment, [compounding its influence on economic growth](%2F%2Fqz.com%2Fus-federal-and-state-governments-are-spending-so-much-t-1850387189%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850389949/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/KMGtWUAJqN2xFv5eV-NSgQ52HM3l6xb6x4HIxJlh1V8=298). %2F%2Fqz.com%2Femails%2Fdaily-brief%2F1850389949%2Fjpmorgan-got-there-first%2F/3/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/LvVAIr2CgOctFLLftwTm99APadG6C5H9S-Y53URQc_c=298 Graphic: (Nate DiCamillo) For example: There’s been uncharacteristically fast investment growth in a category called special machinery equipment, which includes equipment to create semiconductors. It’s clear the CHIPs Act—a 2022 US law providing $280 billion in new funding for the domestic research and manufacturing of semiconductors—[is swaying investors](%2F%2Fqz.com%2Fwhere-the-us-semiconductor-industry-operates-1850278218%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850389949/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/muDFEDtJsWs9AMIP7en_-aPzglRLzpbfbVX1FxHNUSA=298). The sad state of sustainability 12%: Share of roughly 140 Sustainable Development Goals, set by the UN, that are on course to meet their 2030 deadlines. It’s not a great look for the [key global ambitions](%2F%2Fqz.com%2Fun-sdg-progress-2023-report-failing-2030-target-1850385592%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850389949/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/0PHiPCge-lpMNJ2mAF5e9r1L7CQ31Pt0ohftW1mUV_w=298) that were made to encourage work on a range of issues, from ending gender inequality to preserving ecosystems to eradicating hunger. But there are three areas [where at least a little progress is being made](%2F%2Fqz.com%2Fthe-worlds-made-the-most-most-progress-in-3-sdgs-1850385640%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850389949/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/ZQRUXQFeJze0Sq7o9CthCKVeo4DOuIBp1Faji4KsgC8=298). Paraguay’s presidential election is a referendum on China Paraguay, the landlocked country [bordering Brazil](%2F%2Fqz.com%2Flulas-state-visit-to-beijing-reveals-brazils-foreign-po-1850328375%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850389949/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/fuddkDgpjW7aLReRcQzLug3gIdHCYO7CiCiiwzeh0To=298) and Argentina, is the last holdout in South America to still recognize Taiwan. That has prevented lucrative agricultural exports to China, which is why Taiwan has become a key factor in Paraguay’s presidential election. %2F%2Fqz.com%2Femails%2Fdaily-brief%2F1850389949%2Fjpmorgan-got-there-first%2F/4/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/VoPTyL6c3Q1Sbrr_lBDrENdlkqEGoONMWcOcOUTBmdE=298 Illustration: (Clarisa Diaz) While China has not made any promises to Paraguay, there is a clear reason for Taiwan’s dwindling presence in Latin America: [China’s unprecedented investment in the region](%2F%2Fqz.com%2Fparaguays-presidential-election-is-a-referendum-on-chin-1850383805%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850389949/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/fvuXVt30QdRF6hUnZ2r3q7dtPiHue2yjMsTi6n9BCZs=298). 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At ADP, we turn unpredictability into an advantage using data driven insights to design HR solutions to help businesses of every size work smarter, so they can think beyond today and find even more success tomorrow. Learn more at Why ADP. [Learn More]( Surprising discoveries Don’t yell at umpires during your kids’ Little League games. It might just land you with the job of [calling the shots](%2F%2Fwww.goodmorningamerica.com%2Fliving%2Fstory%2Ftown-forces-argumentative-parents-umpires-league-games-98810329/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/Pbf8m9eZF-zaEeYZL8Pe8t3lHdbDpmobbAh61URlHc0=298) for three games. How do octopuses experience time? Since they can move in any direction and aren’t constrained by [limbs that were made for walking forward](%2F%2Faeon.co%2Fessays%2Fcan-the-liquid-motion-of-the-octopus-radicalise-our-ideas-about-time/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/s_Z6_Sl329S6jVMgaBcJpNEampXJyBcwmEOxcxjDfF4=298), probably much differently than us. Rents are going up by as much as 100% in Singapore. Price hikes [are outpacing](%2F%2Fwww.wsj.com%2Farticles%2Fthats-just-crazy-the-metropolis-where-rents-rise-60-75-even-100-b3c536df/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/snb39XuzuIkQA198HxCoaIgsN82PLu8mt0JstjmuqM4=298) those in London and New York City. A California company made a bionic eye that might help the blind see again. It could also help them [see beyond reality](%2F%2Fwww.cnet.com%2Fscience%2Fbiology%2Ffeatures%2Fa-bionic-eye-that-could-restore-vision-and-put-humans-in-the-matrix%2F/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/W6YJgpsseUZmGLQKCBKV2aDvaH7uH-5D2v3ryleD3Rw=298). The first babies fertilized by a robot were born. A [Sony PlayStation 5 controller](%2F%2Fwww.technologyreview.com%2F2023%2F04%2F25%2F1071933%2Ffirst-babies-conceived-sperm-injecting-robot-ivf-automation-icsi-overture%2F/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/05Tm7MZ6J3OXRl0aazo6KICmWhnh-9ycKxsE6KI596Y=298) was used to position a robotic needle that deposited a single sperm cell in an egg. Our best wishes for a productive day. Send any news, comments, an octopus watch, and a bionic eye to talk@qz.com. Reader support makes Quartz available to all—[become a member](%2F%2Fqz.com%2Fsubscribe%2F/1/01000187d6c71d90-a0d133ce-7a11-4576-aea0-378f2c0a16cc-000000/EctJ5NVuwluw7dHG1tRVOo9NKNcr7C8yQYxr8WqD3Mw=298). Today’s Daily Brief was brought to you by Morgan Haefner. 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