Good morning. It's Thursday, Feb. 20, and we're covering charges against Brazil's ex-president, a potential breakthrough in quantum science, and much more. First time reading? Join over 4 million intellectually curious readers. Sign up here.
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Brazilian authorities charged former President Jair Bolsonaro and 33 others yesterday with orchestrating a coup after the 2022 presidential election, among other crimes. The country’s Supreme Court will now decide whether to accept the charges in the coming weeks. The indictments mark the first time in the nation’s history that military leaders have been charged with coup-related crimes (listen to history).
After ruling from 2019 to 2023, Bolsonaro lost reelection to current President Luiz Inácio Lula da Silva. The indictment charges the former army captain with overseeing a plan to poison the president-elect, his vice president, and Supreme Court Justice Alexandre de Moraes. Four major generals and dozens of aides are accused of planning to assume power amid the storming of government buildings by Bolsonaro supporters Jan. 8, 2023, days into the new administration’s term (how it happened).
The 69-year-old and his codefendants face decades in prison if found guilty. In 2023, the Supreme Court banned Bolsonaro from public office until 2030 for casting doubt on the country's electronic voting system ahead of the election. |
(Potential) Quantum Breakthrough |
Microsoft unveiled a quantum computing chip it says is powered by topological qubits, an exotic state of matter that some scientists said wasn't possible to harness for such applications. The Majorana 1—named after the physical phenomenon harnessed in the device—marks the culmination of close to two decades of research on the application.
Quantum computers that can be used for practical applications are considered a "Holy Grail" for many scientists and engineers (learn how they work). While most approaches use ultracold atoms or tiny superconducting qubits, Microsoft's chip relies on many electrons moving in unison as if they were a single particle. The technique would provide qubits that are much more resilient against noise—a central challenge for quantum computers—and would allow qubits to be quickly scaled for use in the real world.
Some said the company's results, published in a paper yesterday, did not provide explicit confirmation of calculations carried out by topological states of matter. |
Electric vehicle startup Nikola filed for Chapter 11 bankruptcy protection yesterday following a dramatic decrease in sales, a fraud scandal, and the incarceration of its founder.
Launched in 2015, the company made promises to revolutionize the industry by developing long-haul semi-trucks powered by hydrogen and electricity. The zero-emissions pitch sparked enthusiasm among investors until 2020, when Nikola was targeted in a short-seller report alleging that founder Trevor Milton had exaggerated claims about his business’s technology and production (read report). Milton was ousted and later convicted of fraud in 2022 for misrepresenting Nikola to investors, including sharing a promo video of an electric truck rolling downhill. He received a four-year prison sentence, which he is now appealing.
The automaker reported having $47M in cash to fund its bankruptcy proceedings and provide limited service for trucks on the road. See 1440's overviews of electric vehicles and how bankruptcy works. |
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Sports, Entertainment, & Culture |
> Team USA hockey takes on Canada in 4 Nations Face-Off Final tonight (8 pm ET, ESPN) (More) | Hockey great Bobby Hull had Stage 2 chronic traumatic encephalopathy at the time of his death in 2023, reports suggest (More) |
> Former Vice President Kamala Harris signs with talent firm Creative Artists Agency; CAA signed former President Joe Biden to a similar deal two weeks ago (More) | "Wicked" star Cynthia Erivo tapped to host 2025 Tony Awards (More) |
> Seven men charged for roles in a string of robberies at athletes' homes, including Patrick Mahomes, Travis Kelce, and Joe Burrow (More) | Los Angeles Chargers tapped to host Week 1 matchup in NFL's second-ever game in São Paulo, Brazil (More) |
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In partnership with Pendulum |
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> Nvidia and the Arc Institute release largest-ever AI model for biology, trained on the genomes of more than 100,000 animals; platform may identify disease-causing mutations, design new genomes, and more (More) |
> Static electricity buildup in different materials depends on their history of being touched, study reveals; despite being a well-known phenomenon, the physics behind charge buildup in regular materials remains elusive (More) |
> Paleontologists discover 120-million-year-old fossils of apex carnivores previously found in South America in Australia; the landmasses were connected in the early Cretaceous via Antarctica (More) |
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> US stock markets close up (S&P 500 +0.2%, Dow +0.2%, Nasdaq +0.1%) as investors digest Federal Reserve's meeting minutes; S&P 500 notches another record close (More) | Palantir shares close down 10% on reports the Trump administration is eyeing defense budget cuts (More) |
> Tapestry to sell footwear brand Stuart Weitzman to Caleres—owner of brands like Sam Edelman and Famous Footwear—in $105M all-cash deal; sale allows Tapestry to focus on its handbag brands Coach and Kate Spade (More) |
> Europe’s largest lender HSBC announces share buyback of up to $2B, reports annual profit in 2024 rose 6.5% (More) | Buybacks 101 (More) |
Death taxes 101: This week's 1440 Business & Finance newsletter takes a deep dive into inheritance and estate taxes. It comes out this morning at 8:30 am ET—sign up here to receive! |
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> Transportation Department rescinds approval of New York City’s congestion pricing program, which went into effect in January (More) | Judge hears arguments in Justice Department-led request to dismiss corruption charges against NYC Mayor Eric Adams (D) (More) |
> Tensions rise between President Donald Trump and Ukrainian President Volodymyr Zelenskyy as the two leaders trade barbs over Ukraine-Russia war (More) | See war updates (More) |
> Pope Francis has pneumonia in both lungs and remains hospitalized in Rome after suffering from bronchitis and a mix of respiratory infections, Vatican says (More) |
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> We Live Like Royalty
The New Atlantis | Charles C. Mann. The average person today enjoys a lifestyle that would have been the envy of historical elites. This article explores what we take for granted and why it matters for the future of our society. (Read)
> Baseball's Unlikely Alliance
Washington Post | John W. Miller. After the death of Martin Luther King Jr., baseball resumed with an unexpected alliance in Baltimore between then-manager Earl Weaver and Frank Robinson, ultimately leading to Robinson becoming MLB's first Black manager in 1975. (Read) |
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Time’s running out to become an early investor in this breakthrough technology—Frontieras' public offering is closing on March 13th. Become a shareholder while you still can.* |
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