Big banks kick off earnings season. JPMorgan, Goldman Sachs, Wells Fargo, and Citigroup all report their latest quarterly earnings, Bloomberg reports.
A white ex-cop is charged with murder. Aaron Dean shot dead an unarmed black woman, Atatiana Jefferson, through the window of her home in Fort Worth, Texas. He resigned his position with the police hours before charges were filed, the Dallas Morning News reports.
In case you missed it
In sport, society and geopolitics, we have LeBron James... The Los Angeles Lakers star has waded into the row between the NBA and China by saying Houston’s Daryl Morey “wasn’t educated about the situation at hand” when he tweeted support for the Hong Kong protesters, ESPN reports.
…and the Bulgarian prime minister. After black English players were racially abused by fans during a game in the Bulgarian capital, Sofia, Boyko Borissov has cut ties with his own country’s soccer authorities, the BBC reports.
The escalating Syria conflict
The Kurds fight back against Turkish forces in Syria. Kurdish forces launched a counterattack on Tuesday in the cities of Manbij and Ras al-Ain, the AFP reports. It follows a deal with Syrian government forces, who entered several towns to forestall a Turkish offensive after the US withdrawal.
What comes after the iPhone?
Can Apple do it again? The iPhone turned Apple from a successful computer company into the world’s most profitable consumer electronics operation. But as this Quartz member exclusive shows, its success could also spell Apple’s undoing.
I don't think apple will be able to come up with a product as influential as the Iphone was to its quarterly revenue. The focus should really be on the apple ecosystem (apple pay, music, tv...etc). This would mean selling the iphone at an even cheaper price to allow users to embrace apple services. This
I don't think apple will be able to come up with a product as influential as the Iphone was to its quarterly revenue. The focus should really be on the apple ecosystem (apple pay, music, tv...etc). This would mean selling the iphone at an even cheaper price to allow users to embrace apple services. This is the most sensible strategy in the near term while they work on the next big thing which may not be big after all.
Apple’s streaming service is surrounded by questions. We know that Apple TV+ will cost $4.99, that it’ll launch on Nov. 1 with eight original series, and that it won’t have ads. But most of the rest is still a mystery.
It is smart to offer the service at $5/month...
I am not convinced that Apple will dominate original content out of the gate. It would depend heavily upon personnel. Everyone loves to festoon Netflix and Amazon with developmental praise but from what I’ve seen, most of their best content is leftovers
It is smart to offer the service at $5/month...
I am not convinced that Apple will dominate original content out of the gate. It would depend heavily upon personnel. Everyone loves to festoon Netflix and Amazon with developmental praise but from what I’ve seen, most of their best content is leftovers from things developed elsewhere. I truly believe that unless you bring on the behind-the-scenes creatives, your front-of-house content will not have the same depth and stamina boasted by the long term heavy hitters like HBO. Not to mention half of what Netflix distributes was created entirely independent of the studio, which is cool and great but doesn’t prove that the newcomers have the secret sauce recipe. It just indicates they can recognize another’s well conceived ideas and then distribute them, which is a very smart way to build your catalogue and brand loyalty while waiting for the truly original content to resonate. Apple doesn’t have a catalogue and the current trend of pulling libraries is likely to continue.
Apple did right to bring over some great industry heavy hitters but imagining yourself as a direct competitor of HBO is a bit like me taking my first novel to Random House.
Trump’s Italy connection
The Trump administration’s probe into the Russia probe crosses the Atlantic. US attorney general William Barr has already visited Italy and Britain, in a very hands-on approach to his inquiry into the origins of the Russia investigation, the FT says. Meanwhile, Trump himself has pressured the Ukrainian president to help Barr.
The US attorney general's inquiry into the origins of the Russia probe gets Italy’s leader into trouble. Bloomberg reports that Italian prime minister Giuseppe Conte is suspected of bending the rules to help William Barr's inquiry. Conte will have to testify in front of parliament next week.
Two winners... For the first time in more than 25 years, the prestigious literary award will be shared—by British author Bernardine Evaristo and Canadian novelist Margaret Atwood. Evaristo is the first black woman to win the award.
Economics Nobel prize
The Nobel prize for economic sciences was announced. The joint winners are Abhijit Banerjee, Esther Duflo, and Michael Kremer, for their work in alleviating global poverty.
In India, where he was born and completed his early studies, the praise for Banerjee might be grudging, at best. He is not a supporter of the current government and has been a dissenting voice on several key issues. As I write this, the prime minister, so prolific on social media, is yet to offer any
In India, where he was born and completed his early studies, the praise for Banerjee might be grudging, at best. He is not a supporter of the current government and has been a dissenting voice on several key issues. As I write this, the prime minister, so prolific on social media, is yet to offer any congratulations to only the tenth Nobel laureate of Indian origin.
The last Nobel for poverty alleviation went to Muhammad Yunus, the Bangladeshi social entrepreneur, banker and economist, for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. But he didn’t get an economics Nobel. He won the Peace Prize. It seems significant that
The last Nobel for poverty alleviation went to Muhammad Yunus, the Bangladeshi social entrepreneur, banker and economist, for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. But he didn’t get an economics Nobel. He won the Peace Prize. It seems significant that the work of Esther Duflo and her longtime collaborator and partner Abhijit Banerjee (as well as Michael Kremer) has been recognised in this way. That too, just days ahead of the UN’s International Day for the Eradication of Poverty, a rather anodyne designation, but now given a new focus. A different-strokes-for-different-folks approach that truly tries to understood how the poor make decisions about housing, healthcare, hygiene products even.
Why did Banerjee, Duflo, and Kremer win the Nobel? Good economic theory can show the causes of poverty and the best policies to combat it. But it can’t say exactly how effective measures will be in practice. That’s where Banerjee, Duflo, and Kremer come in.
Nobel laureate Esther Duflo becomes a target of sexism. She’s being repeatedly described as “the wife of Abhijit Banerjee”, one the other laureates. Duflo is only the second woman to win the economics Nobel.
Completely agree with Barkha. On top of this, ageism is creeping into Indian society and women in their 40s or 50s— by the time they have leadership roles in politics or other spheres—-are called “menopausal”
Two ideas for greener travels
Frequent flyers should pay more. A new report commissioned by the UK government suggests an update to miles programs that makes them suitable to the climate change era: add up the miles traveled by tourists and apply increasingly severe taxes the more they fly.
Hotels should ban tiny shampoo bottles. Many chains have already committed to phasing out bottles of shampoo, body lotion, and shower gel, but a new law in California will force hotels to stop using them starting in 2023, Quartz’s Natasha Frost reports.
China’s culture wars
A disputed China map gains a global audience. An obscure map used by China to claim ownership of virtually the entire South China Sea, but rejected internationally, is finding its way into global media thanks to US firms.
read qz's steve mollman for a deeper dive into China's nine-dash line (including how it was once an 11-dash line, but China relinquished two dashes "as a courtesy") https://qz.com/705223/where-exactly-did-chinas-nine-dash-line-in-the-south-china-sea-come-from/
China’s propaganda app can snoop into users’ phones. The Chinese Communist Party bills its app as a fun educational tool. But it can learn the habits of more than 100 million users.
Funny, you’d figure the CCP would have co-opted Weibo to do exactly the same thing - but with a great many more users. Of course, there is nothing that says it hasn’t done that also. More of the same from China’s all glorious, just and far seeing Communist Party.
Come back soon
In the age of farm-to-table, only a small fraction of US farmers are profitableQuartz
Influencers are changing the face of commerce for goodQuartz
Ancestry’s genetic tests can now tell you about your healthQuartz
There are three types of climate change denier—and most of us are at least oneQuartz
Puerto Rico’s future is now in the hands of the US Supreme CourtQuartz
Nirmala Sitharaman and Nobel laureate Esther Duflo have one thing in commonQuartz India
Rats in rooms, poor service, and now electrocution: OYO’s billions haven’t helped it muchQuartz India
Indian executives are too overworked to deal with cybersecurityQuartz India
Nobel winner Abhijit Banerjee and former RBI chief Raghuram Rajan on India’s economic challengesQuartz India
Guess how many Indians earned over Rs500 crore last financial yearQuartz India