What to watch for today
Russia and the US will discuss Syria “as soon as possible.” Military officials have agreed to hold talks to reduce the chances of a clash after Russia began airstrikes and struck targets in Syria. At least one of the Russian airstrikes apparently targeted CIA-backed rebels, not ISIL fighters.
The People’s Republic of China celebrates its 66th birthday. President Xi Jinping will make a televised address, giant floral bouquets will be arranged, and the nation’s stock markets will be closed for a week to celebrate the National Day holiday.
Will markets rebound after the worst quarter in four years? Investors begin anew after September capped off global stocks markets’ worst three months since 2011. Markets fell between 7-15% in that period, with Shanghai stocks down 25% as much of the panic was driven by a sell-off in China. A rally yesterday across most share indexes should give traders hope for the new quarter.
Hurricane Joaquin approaches the Bahamas. The tropical storm intensified to a category one hurricane yesterday (Sept. 30), but meteorologists are forecasting wildly different paths. It may avoid landfall entirely, or wreak havoc on the eastern United States.
The Obama administration issues a new ozone regulations. The US Environmental Protection Agency will publish a final rule concerning surface-level ozone, or smog. Republicans are likely to fight the new restrictions while green groups are expected to simultaneously defend the agency and sue it for more stringent rules.
Jack Dorsey is to take over at Twitter, officially. The Twitter co-founder has been serving as interim CEO for three months—while also running financial-payments startup Square—and the board is now prepared to make it official, according to Recode. Twitter’s directors had previously insisted they would only consider candidates who could make a “full-time commitment.”
While you were sleeping
Wal-Mart is planning hundreds of job cuts. The US supermarket chain is likely to let go of up to 500 staff from its headquarters, according to the Wall Street Journal (paywall). Increasing competition led to a 15% fall in second-quarter net income compared to last year; its shares have declined by 24% so far this year.
Volkswagen started preparing cost cuts. The German auto maker is assessing ways to generate cashflow so that potentially massive fines do not hurt its credit rating, according to Reuters. VW admitted to cheating on emissions tests, and has already set aside €6.5 billion ($7.3 billion) for penalties, but a lower credit rating could increase its borrowing costs, making a recovery even more difficult.
Manufacturing growth slowed in the euro zone. The Markit purchasing managers’ index for the economic bloc fell to 52 in September, from 52.3 in August, bringing the figure closer to the 50 level that separates expansion from contraction. Greece’s factory activity unexpectedly rose in the month, while Italy’s took a surprise dip.
Afghan forces “regained Kunduz.” Government officials say that its military has taken control of the city after the Taliban took it over on Monday—but a Taliban spokesperson claims it is still in charge. The struggle to retake and hold Kunduz is putting pressure on president Ashraf Ghani, who came to power one year ago this week.
Nigeria celebrated 55 years of independence. President Muhammadu Buhari called on citizens to end their ”unruly” ways and to be “law-abiding citizens,” in a reference to his attempts to tackle corruption. Buhari also pointed to Nigeria’s economic crisis caused by the low oil price, and defended taking months to appoint a cabinet after gaining power in May.
Chinese manufacturing appeared to bottom out. The official purchasing managers’ index rose to 49.8 in September, from 49.7 in August, signaling a slower rate of contraction in the manufacturing sector (a level above 50 signals expansion). That suggests recent interest rate cuts and other stimulus measures might be having a positive impact.
Quartz obsession interlude
Katherine Whittaker on what’s missing from the United Nations General Assembly’s agenda. “While the UNGA plans to discuss many important global issues over the next few weeks—notably the new goals regarding climate change and peacekeeping reforms—there is one glaring omission: Nowhere among the Assembly’s over 170 items is the Syrian or European refugee crisis specifically mentioned.” Read more here.
Matters of debate
VW’s scandal erased 55 years of spectacular advertising. It may take decades to regain trust.
Vladimir Putin has no interest in attacking ISIL in Syria. Russia’s real targets are moderate forces that oppose Bashar al-Assad.
Tesla’s new SUV is made for moms. Women buy 53% of sport utility vehicles.
Indoor toilets are a step backward for civilization. Flushing uses up valuable water and spreads pathogens to rivers and oceans.
Parasites are threatened by climate change, too. We need to save nature’s least sympathetic creatures.
Surprising discoveries
It was easier to be skinny in the 1980s than it is today. Chemicals and prescription drugs may be making us fatter, even if we eat the same amount as a few decades ago.
Japan promised to pay companies for promoting women to senior jobs. Not a single firm responded to the offer.
Beijing researchers are selling genetically engineered micropigs. The pets go for 10,000 yuan ($1,600).
A 4,000-year-old poem just got 20 lines longer. A newly discovered stone tablet adds to the Epic of Gilgamesh.
Danish moms are being asked to send their adult kids on baby-making vacations. Anything to reverse a demographic death spiral.
Our best wishes for a productive day. Please send any news, comments, genetically-engineered micro pigs, and vintage VW ads from a simpler time to hi@qz.com. You can follow us on Twitter for updates throughout the day.